Income Tax Judgements

challenges HC decision - ref. U/s 256

pushpendra 05 March 2008 at 23:14

This appeal challenges the decision of the Madras High Court in reference under section 256 (1) of the IT Act, 1961, in which the following question was referred by the Tribunal at the instance of Revenue which was adjudicated against it.

Posted in Income Tax | 114 Views

Computer software - revenue or capital expenditure ?

CA Sudheer 26 February 2008 at 12:57

Posted in Income Tax | 118 Views

Capital Gain on Compulsory Acquisition

Arvind Mantri 25 February 2008 at 15:42

When the award of the reference court enhancing the compensation is stayed and an interim payment is ordered as condition of such stay or otherwise and is paid, pending final decision, neither of the two conditions are satisfied. The amount received

Posted in Income Tax | 90 Views

Business Expenditure

Garima 20 February 2008 at 15:47

Posted in Income Tax | 81 Views

Unexplaines Investments

Rahul Tibrewal 19 February 2008 at 10:14

Whether the amount of unexplained cash credits are to be added in the total income of the firm even though the amount was already included in the total income of the partners.

Posted in Income Tax | 103 Views

Capital or Revenue Receipts

Rahul Tibrewal 19 February 2008 at 10:14

Whether compulsory deduction made by sugar cooperative societies on account of non-refundable and refundable deposits and other funds are revenue receipts liable to be taxed under the Income Tax Act.

Posted in Income Tax | 81 Views

Valuation of Stock

Rahul Tibrewal 19 February 2008 at 10:14

Whether A.O. was justified in invoking section 145 to value closing stock at cost or market price which ever is lower where assessee had adopted the policy of valuing its closing stock at market price only.

Posted in Income Tax | 111 Views

Interest earned by bank on dated Govt. securities-Taxability

kavita jain 18 February 2008 at 09:50

Section 2(7), read with section 4, of the Interest-tax Act, 1974.

Posted in Income Tax | 87 Views

Allowability of Business expenditure .

kavita jain 17 February 2008 at 23:05

There are a number of tests which are required to be considered while deciding whether the expenditure was revenue or capital in nature. A number of judgments have been cited before us in that regard. However, in the absence of the requisite details

Posted in Income Tax | 108 Views