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HC - No specific consideration paid as non-compete amount
CIT vs. Govindlal C. Mandhana (HUF)
(2014) TaxCorp(LJ) 4530 (HC-BOMBAY)
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HC - Once interest income on loan for earlier years taxed as income from other sources, loan waiver can't be "business income"
CIT vs Digiwave Infrastructure & Services Limited
(2014) TaxCorp(LJ) 4526 (HC-BOMBAY) · Section. 28(iv)
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S. 271(1)(c): Before proceeding to the Explanation below s. 271 and putting the responsibility on the assessee, it is necessary for the AO to first demonstrate that the assessee's explanation or conduct is not reasonable on human probabilities, or that it was in the nature of violating settled legal positions. If the explanation is not fanciful, baseless or unacceptable, penalty cannot be levied
CIT. Vs. Rucha Engineers Pvt. Ltd.
(2014) TaxCorp(LJ) 4511 (HC-BOMBAY) · Section. 271(1)(c), 271
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Whether when the assessee fails to bring to the notice of the AO the orders of assessments passed in the case of other AYs, it is to be construed as not full disclosure of facts and it warrants issue of notice u/s 148
ICICI BANK LTD. Vs. DCIT
(2014) TaxCorp(LJ) 4345 (HC-BOMBAY) · Income tax – Sections 36(1)(vii) & (viia), 143(3), 147, 148, 150
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The person who constructs a road on Build, Operate and Transfer (BOT) basis on land owned by the Government is not the "owner" of the road and cannot claim depreciation thereon
North Karnataka Expressway Ltd. vs. CIT
(2014) TaxCorp(LJ) 4316 (HC-BOMBAY)
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S. 145: AO is not entitled to reject books of account in a casual and high-handed manner
CIT. vs. Teletronics Dealing Systems P. Ltd.
(2014) TaxCorp(LJ) 4310 (HC-BOMBAY) · Section. 145
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S. 2(24)(x) r.w.s 36(1)(va) & 43B: Even employees' contribution to PF etc is allowable if deposited before due date of filing ROI
CIT. vs. Ghatge Patil Transports Ltd.
(2014) TaxCorp(LJ) 4277 (HC-BOMBAY) · Section. 2(24)(x)
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Advertisement expenditure incurred by agent to popularize the business of the channel run by the foreign principal is allowable as there is a direct business between the expenditure and the assessee's business as agent. The fact that the foreign principals also benefited does not entail right to deny deduction under section 37(1)
CIT. vs. N.G.C. Network (India) P. Ltd.
(2014) TaxCorp(LJ) 4267 (HC-BOMBAY) · Section 37(1)
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An Attitudal change in Judges is required. It is high time for us to change our mind set and see whether this new technology can help us to increase the speed and also we have to take into account the convenience of the parties
Suvarna Rahul Musale vs. Rahul Prabhakar Musale
(2014) TaxCorp(LJ) 4229 (HC-BOMBAY)
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Senior officers of the department summoned and strictures passed for ‘Irresponsible conduct’ of filing an appeal on a point which is admittedly covered against the department by a judgement of the Supreme Court
CIT vs. Reliance Infrastructure Ltd.
(2014) TaxCorp(LJ) 4228 (HC-BOMBAY)
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HC – Acceptance of Assessee is itself sufficient tangible material for the AO to reopen the assessment
POWERDEAL ENERGY SYSTEMS (I) PVT LTD Vs ASSTT COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 4225 (HC-BOMBAY) · Income Tax - Sections 133A & 148
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