Judgements and Orders, Supreme Court and High courts of India

Companies must pay minimum wage

CA. Dashrath Maheshwari 10 October 2007 at 01:51

The Bombay High Court has ruled that companies are bound to pay the prescribed minimum wage

Posted in Audit | 245 Views

Section 194A of the Income-tax Act, 1961

Ravikumar.G 09 October 2007 at 17:21

Section 194A of the Income-tax Act, 1961 - Deduction of tax at source - Interest other than interest on securities - Assessment years 2000-01 and 2001-02 - Whether where assessee had borrowed money from financiers for making payment to its suppliers

Posted in Income Tax | 51 Views

Section 24 of the Income-tax Act, 1961

Ravikumar.G 09 October 2007 at 17:21

Section 24 of the Income-tax Act, 1961 - Income from house property - Deductions - Assessment years 1998-99 and 2001-02 - Assessees were co-owners of lease-hold rights in respect of a property situated at New Delhi - They had sublet said property to

Posted in Income Tax | 76 Views

Section 127 of the Income-tax Act, 1961

Ravikumar.G 09 October 2007 at 11:43

Section 127 of the Income-tax Act, 1961 - Income-tax authorities - Power to transfer cases - Block period 1-4-1987 to 10-2-1998 - Assessing Officer, Delhi, consequent to order allegedly passed under section 127 transferring assessee’s case from Bomba

Posted in Income Tax | 227 Views

Section 43B of the Income-tax Act, 1961 - Business disallowance

Ravikumar.G 09 October 2007 at 11:20

Section 43B of the Income-tax Act, 1961 - Business disallowance - Certain deductions to be allowed only on actual payment - Whether section 43B(f) is to be struck down being arbitrary, unconscionable and de hors Apex Court decision in case of Bharat

Posted in Income Tax | 50 Views

Penalty u/s 271(1) (c)

CA.Saibaburao Nanduri 08 October 2007 at 19:52

Held by the Hon`ble Court that, neither the assessee nor the Department proves anything about the loans therefore concealment was not proved and penalty u/s 271(1)(c) is not justified in law.

Posted in Income Tax | 44 Views

Rental Income

CA Nikita 08 October 2007 at 14:01

Posted in Income Tax | 57 Views

IT pros can't avoid tax on foreign earnings

CA Nikita 07 October 2007 at 21:58

Posted in Income Tax | 143 Views

Interest on Non-perfoming assets ::

CA.Saibaburao Nanduri 07 October 2007 at 20:07

Held by the Hon`ble Court that, the principle of accrual comes in to play only when income is recognised, income from non-performing assets in consonance with notification issued by R.B.I. and A.S. 9 issued by the I.C.A.I. will be taxable in the appr

Posted in Income Tax | 54 Views

Income from housing property or Income from business ::

CA.Saibaburao Nanduri 07 October 2007 at 14:42

Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".

Posted in Income Tax | 37 Views