DIT vs Seaworld Shipping and Logistics (P) Ltd.
Dismissal of appeal on ground that no infirmities pointed out in order under appeal-No independent finding given by tribunal as regards order in appeal, Impugned order quashed and set aside, Matter restored-The tribunal had dismissed the revenue’s appeal on ground that the departmental representative when asked could not point out any infirmities in the o [LexDoc Id : 452387]
HC (Gujarat)
2013
CIT vs Express Securities (P) Ltd.
Head of income - sale of shares-Marinating two portfolios-A.Y. 2006-2007. The assessee a dealer in shares maintained two portfolios-certain shares were held as investment. The gains on sale of those shares wo [LexDoc Id : 452272]
Tamil Nadu Cricket Association vs DIT and Ors.
Cancellation of Registration-Receipt of income not covered by objects of trust-S.12AA(1)(b) requires satisfaction about the objects of trust as well as about the genuineness of its activities for granting registration.
S [LexDoc Id : 458940]
HC (Chennai)
2013
Tamil Nadu Cricket Association vs DIT and Ors.
Cancellation of Registration of trust-Condition precedent - Effect of later amendment to Act - Validity of: Cancellation of charitable trust-The registration granted u/s 12AA(1) could be only with reference to objects satisfying definition of "charitable purpose" u/s 2(15) as at time of gra [LexDoc Id : 457823]
Mukesh Oil Mill (P) Ltd. vs ITAT and Ors.
Rejection of accounts-Appeal to High Court-Defects in accounts and fall in GP rate - Absence of stock - register-A.Y. 2004-05.
The A.O. noticed several defects in accounts and absence of stock - register and a steep fall in GP rate. There was no proper expla [LexDoc Id : 457046]
CIT vs Bansal Abushan Bhandar
Penalty: Concealment of income-Waiver of penalty - Voluntary disclosure - Genuine hardship-A.Y. 1982-83 to 1986-87.
The assessee had filed revised returns only after it was cornered after a search u/s 132. No proper explanation offered [LexDoc Id : 455287]
CIT vs Shree Hindustan Fabricators
Disallowance under s. 40(a)(ia)-Impugned order quashed and set aside by following judgment of division bench in other tax appeal, Appeal allowed-The appellant had challenged the judgment of tribunal on certain substantial questions of law. Considering the decision of division bench of the high [LexDoc Id : 452946]
HC (Gujarat)
2013
CIT vs Income Tax Settlement Commission, (ITSC) and Anr.
Power of: Settlement Commission-Direction for further enquiry/investigation-It is not necessary for the Settlement Commission to order further enquiry or investigation by the CIT in every case.
Writ to direct the Commissi [LexDoc Id : 452257]
