CIT vs India Pistons Ltd.
Valuation of closing stock-Excise and Customs duty payable-AY 1992-93. The assessee had imported certain material which was not yet cleared and was kept in bonded warehouse. The manufactured goods were not cle [LexDoc Id : 384581]
HC (Chennai)
2009
Tricom India Ltd. vs ACIT
Export of software: Income derived from export-Interest on FDRs-AY 2005-06.
The assessee provided I.T. enabled services and BPO services. The interest earned on FDRs and misc income was not entitled to deduction u [LexDoc Id : 381462]
ITAT (Mumbai)
2009
CIT, ITO and Anr. vs Sri Hariram Hotels (P) Ltd.
Computation of: capital gains-Cost of acquisition-Interest on borrowed capital-AY 2003-2004. The interest on capital borrowed for purchase of property was part of the cost of acquisition to compute the capital gains.
S.48 of [LexDoc Id : 381458]
HC (Karnataka)
2009
CIT vs Thiruvengadam Investments (P) Ltd.
Scope of fiction under s.50C-The value taken for computation of capital gains-AY 2004-05. The fiction under s.50C that value adopted for stamp duty would be taken as consideration received could not be extended to business asset [LexDoc Id : 380554]
HC (Chennai)
2009
Children's Education Society vs DCIT and Anr.
TDS: Failure to make TDS-Deductee paid the tax-AY 1994-95 to 1997-98. The assessee had failed to make TDS. The deductees had paid the tax. Therefore, the same could not be recovered from it.
[LexDoc Id : 380494]
HC (Karnataka)
2009
CIT and ACIT vs Udupi Builders (P) Ltd.
Capital investment-Subsidy to encourage hotel industry in state-AY 1994-95. The subsidy paid by the State to encourage hotel industry in the state was a capital receipt even if received after completion of the proj [LexDoc Id : 379791]
Hind Syntex Ltd. vs CIT
Validity of re-asstt.-Recomputation of: Depreciation- Full facts disclosed-AY 1988-1989. The assessee had fully disclosed the fact that it changed the method of depreciation in view of Amendment of Companies Act. The notice u [LexDoc Id : 404052]
HC (Madhya Pradesh)
2009
P. and G. Hygiene and Health Care Ltd. vs Commissioner of Commercial Tax
Limitation for filing appeal: Date of knowledge-Appeal filed within 90 days in order, Preliminary objection as to maintainability of appeal overruled-In the matter of reckoning the period of limitation prescribed in s.62 of the Kerala Value Added Tax Act 2003, the period of 90 days was to be reckone [LexDoc Id : 402156]
Travellers Choice vs ITO
Validity of: Re-asstt.-Reasons recorded not adequate to reach satisfaction-AY 1991-1992, 1992-1993 and 1993-1994. The AO recorded the following for issuing notice under s.148. I have reasons to believe that the income chargea [LexDoc Id : 394969]
HC (Karnataka)
2009
CIT and Anr. vs S.N. Murali Mohan
Unaccounted cash and valuable found in search-Manipulation of accounts-AY 1991-1992. During the search under s.132, certain unaccounted cash, diamonds and other valuables were seized along with some loose-slips. The AO co [LexDoc Id : 392797]
CIT vs Khemchand and Motilal Jain Tobacco Products (P) Ltd.
Business expenditure-Commission paid to Directors, Royalty: Use of Trademark-Ay-1992-1993.
1. The assessee paid commission to it’s Director for giving personal guarantees for loans. The commission paid was found reasonable by [LexDoc Id : 391255]
