Income Tax Judgements
'Chargeable gift'- Hindu law - Settlement of share of HUF on unmarried daughter
CMA Gul S 24 September 2007 at 12:37
'Chargeable gift'- Hindu law - Settlement of share of HUF on unmarried daughter The assessee were members of an HUF known as CD family.'C' the karta died on 29 January 1987. Due to some disputes arising among family members, a family arrangement wa
BAD DEBTS
CA.Saibaburao Nanduri 24 September 2007 at 12:37
Held by the Hon`ble Court that, it is not necessary to establish that debt had become bad only to write it off as irrecoverable in its accounts is enough to claim deduction u/s 36(1)(vii).
Depreciation on Stand-by Spare parts ::
CA.Saibaburao Nanduri 24 September 2007 at 12:37
Held by the Hon`ble Court that, any `forced illness` of the machinery cannot disentitle to the assessee to claim the depreciation allowance, form the director report it is clear that the assessee was prevented form using the machinery because of the
Section 254
CA.Saibaburao Nanduri 23 September 2007 at 19:50
Held by the Hon`ble Court that, it is well settled law that while disposing of an appeal , the authority must record reason of its decision. Therefore it is not justified in law to dispose of an appeal without recoding any reason.
Section 41(1) of the IT Act, 1961 - Remission or cessation of trading liability
CA Nikita 23 September 2007 at 13:02
Deduction for dividend earned and distributed u/s 80M before due date of return
CA Nikita 23 September 2007 at 13:02
Deduction-Export of goods- Export of goods purchased from EOU units
CMA Gul S 22 September 2007 at 13:42
The assessee was a registered merchant exporter. On receipt of orders directly from abroad it purchased goods from various parties including some purchases made from EOU units. These units were entitled to deduction under s.10B. The benefits only und
TDS-Work contract, Job work, Sale of goods - Goods manufactured as per customers specifications
CMA Gul S 22 September 2007 at 13:42
The assessee was manufacturing and trading in consumer electronic and trading in consumer electronic and home appliances. It outsourced manufacture of these articles from various concerns referred to as OEMs. The OEMs purchased raw materials on their
CAPITAL GAIN ::
CA.Saibaburao Nanduri 20 September 2007 at 14:06
Held by the Hon`ble Court that, agriculture land is a capital asset u/s 2(14) of the act, only on ground that the cost of acquisition was nil it could not be held that capital gain was not liable to tax.
Capital or Revenue Expenditure ::
CA.Saibaburao Nanduri 19 September 2007 at 16:49
Held by the Hon`ble Court that, it was an admitted fact by the assessee that structural changes had been made therefore it is capital expenditure in nature.
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