Income Tax Judgements
CANCELLATION OF KVSS CERTIFICATE ISSUED UNDER SECTION 90(2)
CHEZHIYAN 18 September 2008 at 11:35
There is no provision under the Finance (No. 2) Act specifically conferring any power on the designated authority (CIT) to cancel the certificate so issued under section 90(2); the second proviso to section 90 only enables the CIT to amend the certif
PREREQUISITE FOR APPLICABILITY OF SECTION 35AB OF THE INCOME
CHEZHIYAN 18 September 2008 at 11:35
For the applicability of section 35AB, the nature of expenditure is required to be decided at the threshold because if the expenditure is found to be revenue in nature, then section 35AB may not apply, however, if it is found to be capital in nature,
Delhi High Court on section 147 of the Income-tax Act, 1961
CA Pawan Goswami 18 September 2008 at 11:35
Delhi High Court on section 37(1) of the Income-tax Act, 196
CA Pawan Goswami 18 September 2008 at 11:35
Supreme Court on section 5 of the Central Sales Tax Act, 195
CA Pawan Goswami 18 September 2008 at 11:35
Section 5 of the Central Sales Tax Act, 1956, read with section 5A of the Kerala General Sales Tax Act, 1963 - When is a sale or purchase of goods said to take place in course of import or export - Assessment year 1998-99 - Assessee was engaged in bu
Business Expenditure
CA Rachit K Patel 18 September 2008 at 11:35
Case Fact: Whether any payment to a Non Resident is disallowed if T.D.S. is deducted in one Financial Year and deposited in the next financial year with the Government.
Deemed dividend as per Section 2(22)(e)
CA Rachit K Patel 18 September 2008 at 11:35
Case Fact: Whether income earned by the partner from funds withdrawn from a firm, where the firm had received such funds from a Co. in which the said partner has substantial interest, as repayment of advances made earlier in the ordinary course of bu
Income from House Property
CA Rachit K Patel 18 September 2008 at 11:35
Case Fact: Whether A.O. is justified in adding interest on interest free loan given by lessee to the lessor as notinal rent to compute the Income from House Property.
VALIDITY OF REASSESSMENT PROCEEDINGS INITIATED UNDER SECTION
CHEZHIYAN 12 September 2008 at 11:42
The basis for initiating the reassessment proceedings is to be judged solely on the basis of reasons recorded by the AO and the material and information referred to by him in the reasons for initiating such action; the formation of the belief of the
ALLOWABILITY OF LOSS ARISING ON ACCOUNT OF FOREIGN CURRENCY
CHEZHIYAN 12 September 2008 at 11:42
The PSC is an independent accounting regime which includes tax treatment of costs, expenses, incomes, profits etc., it is because of the specific provision in the PSC for currency translation that loss/profit would accrue to an operator-company; ofte
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