Judgements and Orders, Supreme Court and High courts of India

Registration of Trust u/s 12A ::

CA.Saibaburao Nanduri 12 December 2007 at 20:18

Held by the Hon`ble Court that the objects should not be considered independantly, these should be understood in their entirety. As the defending of the members against initiated actions was only one of the objects apart from indulging in charitable

Posted in Income Tax | 38 Views

BUSINESS LOSS ::

CA.Saibaburao Nanduri 10 December 2007 at 16:42

Held by the Hon`ble Bench that section 71(2) allows an assessee to set off of business loss from income under any head including capital gains, further no sequence is prescribed for set off of losses, thus it is open to the assessee to set off the bu

Posted in Income Tax | 132 Views

BEAUTY TREATMENT

Ravikumar.G 08 December 2007 at 12:39

Posted in Others | 43 Views

Income-tax Return

CA.Saibaburao Nanduri 08 December 2007 at 12:39

Held by the Hon`ble Court that the provision relating to filing of return of income within the stipulated time is applicable to a person who is required to file a return u/s 139(1), a person not having any taxable income is not bound to file the INCO

Posted in Income Tax | 31 Views

Section 147, 148 ::

CA.Saibaburao Nanduri 08 December 2007 at 12:39

Held by the Hon`ble Court that, what should be the correct net profit in the opinion of the A.O. had no relation with the formation of any opinion that assessee failed to disclosed truly and fully material facts necessary for assessment. Therefore no

Posted in Income Tax | 55 Views

TRANSFER OF ASSETS ;;

CA.Saibaburao Nanduri 02 December 2007 at 21:03

Held by the Hon`ble Court that as the transfer of asset is not one in the nature of transfer of assets from subsidiary to holding as covered by section 47(v) but is distribution of assets to the shareholders upon the liquidation of the company, hence

Posted in Income Tax | 95 Views

Deduction u/s 37(1) of liability arising for warranty ::

CA.Saibaburao Nanduri 02 December 2007 at 09:49

Held by the Hon`ble Court that as the amounts set apart by the assessee for different A.Y. are done on the basis of past experience even though the liability is to be quantified and discharged in future, the provision made for the liability against w

Posted in Income Tax | 51 Views