Judgements and Orders, Supreme Court and High courts of India

Section 37(1), read with section 170, of the Income-tax Act, 1961 - Business expenditure - Allowability of - Assessment year 1998-99 - Assessee-company was incorporated through conversion of a partnership firm - It claimed deduction of payment of sal

Section 115JA of the Income-tax Act, 1961 - Minimum alternate tax - Assessment year 1997-98 - Whether for purposes of computing book profit under section 115JA, provision made by assessee for bad and doubtful debt can be added back to net profit only

Case Name: Appellants:- Gestetner Duplicators Pvt.Ltd. Respondent:- Commissioner of Income Tax, Decided on: 14.12.1978 Assessee's claim for deduction under section 36(1)(iv) of the Indian Income Tax Act 1961 in respect of three sums of

Whether, different method for valuation of part of closing stock is permissible under law?

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The cost of repairs incurred by an assessee-tenant in respect of tenanted premises would have to be allowed under section 30(a)(i); the question of disallowing such an expenditure and relegating the assessee to claim depreciation under section 32 do

When on account of application of section 145A a change is per se forced upon the assessee in the valuation of its closing stock, a corresponding adjustment in opening stock has to be carried out for consistency

The cost of repairs incurred by an assessee-tenant in respect of tenanted premises would have to be allowed under section 30(a)(i); the question of disallowing such an expenditure and relegating the assessee to claim depreciation under section 32 doe

Section 80 of the Finance Act, 1994 - Penalty- Not to be imposed in certain cases -Assistant Commissioner dropped penalty proceedings against assessee on finding that certain factors created confusion in mind of assessee which was a reasonable case o