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Income Tax Judgements


Clubbing of Income

  Devendra    04 November 2008 at 15:09

Whether interest income on accumulated profits of minor who is partner in a firm, will be included in the total income of parent?

Posted in Income Tax |   40 Views



Whether sub-partnership is entitled to exemption under section 10(2A) of Income-tax act, 1961?

Posted in Income Tax  1 comments |   60 Views


Powers of Appellate Tribunal

  Devendra    04 November 2008 at 14:55

Whether Appellate Tribunal can recall order passed by it earlier?

Posted in Income Tax |   53 Views


Speculation Loss

  Devendra    03 November 2008 at 14:42

Whether loss on sale of share whose physical delivery not taken by the assessee is speculation loss?

Posted in Income Tax |   41 Views


Self Assessment Tax

  Devendra    31 October 2008 at 12:01

Self assessment tax paid on the next working day instead of on the date given in sec. 139 because that day was a holy day, interest levied for delay is sustainable.

Posted in Income Tax |   32 Views


Income from house property or business income

  Devendra    31 October 2008 at 11:57

Whether income from mall management and business centre under agreements with users for providing services and limited rights granted to users while owner ship remains with owner is income from business or house property?

Posted in Income Tax |   49 Views



Where the issues sought to be raised before the High Court are purely issues of fact and the Tribunal, being the final fact finding authority, has returned a certain set of facts, no perversity can be found in such findings and consequently, no quest

Posted in Income Tax |   34 Views


CIT vs. Wallfort Shares & Stocks

  Taxguy    23 October 2008 at 13:43

(i) S. 94(7) was inserted prospectively w.e.f. 1.4.2002 to disallow dividend stripping losses. If the argument of the Revenue that even transactions prior to s. 94(7) can be disallowed is accepted, it will render s. 94(7) redundant and also lead to a

Posted in Income Tax |   60 Views


CIT vs. Raval Tiles

  Taxguy    23 October 2008 at 13:39

Where the Tribunal did not pass an order on the appeal despite considerable delay and instead fixed the matter repeatedly for ‘clarifications’ and thereafter closed the matter for orders on the basis of written submissions and without hearing the ass

Posted in Income Tax |   47 Views


Interest Forgone not taxable

  Taxguy    23 October 2008 at 13:32

Where the assessee entered into an agreement for transfer of its industrial undertaking under which the buyer agreed to pay it interest on the unpaid consideration w.e.f 1.3.1977 and subsequently on 30.6.1978 the parties agreed to defer the date of c

Posted in Income Tax |   26 Views