CIT vs Baba Saheb Kedar G and P Co-Op. Society Ltd.
Deduction: Income from letting go-down-Composite charges from processing etc and storage-The assessee was a co-op society. It was receiving composite charge for processing, ginning, and pressing and storage of cotton bales. The amount attr [LexDoc Id : 378882]
South Indian Bank Ltd. vs CIT
Interest payable on: Shortfall of advance-tax-Levy of interest in re-asstt.-AY 1999-2000. Even though interest under s.234 could be levied in first re-asstt., it was not levied. The income was again re-assessed under s.147. In [LexDoc Id : 394577]
CIT vs Ambika Cotton Mills Ltd. and Ors.
Book-profits - Computation of-Deduction under s. 80HHC and book-profits for MAT-AY 2002-2003. To determine book-profits under s.115JB, the deduction under s.80HHC has to be worked on the basis of the adjusted book-profits.
S. [LexDoc Id : 385872]
CIT vs Krishi Utpadan Mandi Samiti and Ors.
Charitable Trust-Agricultural Market Committee-The dominant object of the assessees was of the nature of general public utility. They were charitable trust for registration under s.12A.
S.2(15 [LexDoc Id : 384621]
CIT vs GP International Ltd.
Cash credits-Share application money-The identity of the person who subscribed for shares of assessee company was not doubted. The transaction could not be treated as non-genuine were if [LexDoc Id : 383161]
CIT vs Sita Devi Juneja
Remission of liability. (Trading liability)-Outstanding credits-AY 2004-2005. Certain credits were outstanding for 6 years. The amounts were not allowed as deduction in any earlier year. These were not assessable u [LexDoc Id : 378667]
ITO vs Arihant Tiles and Marbles (P) Ltd.
Manufacture or production of an article-Conversion of Marble blocks into files and slabs-AY 2001-02.
The assessee converted marble blocks into slabs and files by undertaking his process of cutting and publishing so as to make marble tiles [LexDoc Id : 377786]
Southern Foundation (P) Ltd. vs ACIT
Scope of appeal-Issue not taken in Asstt. order-AY 1997-1998. The assessee was in real estate following completion of project method. In view of this direct expenses on 4 incomplete projects were di [LexDoc Id : 392642]
HC (Chennai)
2009
CIT vs Chakiat Agencies (P) Ltd.
Penalty: Concealment of income-Disallowance deleted in appeal-AY 1996-1997. The penalty was levied since the deduction claimed under s.80-O was disallowed. Since the said deduction had been allowed in appeal, no [LexDoc Id : 392641]
