CIT and Anr. vs Mysore Intercontinental Hotels (P) Ltd.
Apportionment of income between various-Finding of fact-Ay-2004-2005, 2005-2006. The assessee had let out it’s premises with such fittings as made it possible to be used as office for carrying on software b [LexDoc Id : 394105]
CIT vs Chandni Bhuchar
Addition to Income-Actual sale consideration vis-à-vis stamp duty valuation-The value taken for stamp duty purpose could not be taken as actual sale consideration under s.48.no addition to income in the hands of purchaser of p [LexDoc Id : 384757]
HC (Punjab and Haryana)
2010
CIT vs Satinder Pal Singh
Agricultural land-Distance from municipal limit-Measuring the distance-AY 2001-2002. The distance of the impugned agricultural land from Municipal limits was to be measured in term of approach by road and not by straight [LexDoc Id : 380483]
HC (Punjab and Haryana)
2010
CIT vs SMC Credit Ltd.
Business loss vs Capital loss-Investment vs Stock-in-trade loss in dealing in shares-AY 1998-99.
The frequency with which the shares were dealt by the assessee was significant. Thus the shares were its stock-in-trade even if shown as [LexDoc Id : 379517]
CIT vs Muzaffar Nagar Kshetriya Gramin Bank Ltd.
Income derived from banking-Interest on Non-SLR Investment-Ay-2002-2003. The assessee was a co-op bank. It’s income from interest on non.SLR investment was entitled to special deduction as income from banking [LexDoc Id : 389714]
HC (Allahabad)
2010
CIT vs Sakthi Metal Depot
Capital gains on: Sale of depreciable assets-Depreciation not claimed for some years-AY 1998-1999. The assessee claimed and was allowed depreciation on a flat used for business from AY 1974-75 to 95-96. It was sold in F.Y. 97-98. The f [LexDoc Id : 388176]
HC (Kerala)
2010
CIT vs Gopal Purohit
Appeal to High court-Investment and Stock-in-trade-The Tribunal gave a finding that the assessee was engaged in (i) investment in shares and (ii) dealing in shares.It was a finding of fact.
R [LexDoc Id : 381574]
HC (Bombay)
2010
CIT vs Premier Poly Sacks (P) Ltd.
Interest on borrowed capital-Investment in other company, Commercial expediency-The assessee borrowed funds on interest and invested it in purchase of shares of 'VPL'. It was depending on 'VPL' for 80% to 90% of its orders. The in [LexDoc Id : 381522]
HC (Chennai)
2010
CIT vs Varanasi Auto Sales (P) Ltd.
Depreciation-Ownership-De facto owner-Trucks in Director's name-The assessee company was in fact the owner of the trucks though those stood in the name of it's director. The funds were provided by the company. The [LexDoc Id : 380748]
CIT vs G. Soman
Deduction on actual payment-Tax/duty/cess/fee - License fee to sell today-A.Y.1999-2000. The license fee paid to sell today under Excise Act was not hit by S.43B(a)
S.43B(a) of the Income Tax Act 1961 [LexDoc Id : 403448]
