Income Tax Judgment of SC, HC and ITAT

SUMMARY OF CASE LAW Just because the members of the assessee-Mandi Parishad not elected, the status of the “Local Authority” cannot be denied  to it when all other tests laid down by the Supreme Court regarding a local authority in Ajay Hasia v. Khalid Mujib [AIR 1981 SC 487] & Union of India v. R. C. [...] Full Article

The following Benches will not function during the period from 20.07.09 to 24.07.09“A1, B1, E1, H, L, & WT”The cases hanve been adjourned to respective dates - See seprate notice.Sd/-(M.A. Bakshi)Vice-PresidentDate : 16.07.2009 Full Article

SUMMARY OF CASE LAW Payments for chartering ships on hire for doing the business outside India do not satisfy the test laid down in section 9; when section 9 is not satisfied, there cannot be a case that income is deemed to accrue or arise in India as a result of hire payments made by [...] Full Article

SUMMARY OF CASE LAW By no stretch of imagination it can be said that furnishing of bank guarantee is actual payment of tax or duty in cash; the bank guarantee is nothing but a guarantee for payment on some happening and that cannot be actual payment as required under section 43B for allowance as deduction [...] Full Article

SUMMARY OF CASE LAW An order of assessment passed by an ITO should not be interfered with only because another view is possible; when a statute provides for different hierarchies, providing for forums in relation to passing of an order as also appellate or original order; by no stretch of imagination a higher authority can [...] Full Article

SUMMARY OF CASE LAW The supporting manufacturer gets an independent right to claim deduction under section 80HHC(1A) once he gets in his favour a disclaimer certificate from the export house and there are no other conditions stipulated in the said provisions. CASE LAW DETAILS Decided by: ITAT, BANGALORE BENCH `A’, In The case of: Shamanur Kallappa [...] Full Article

SUMMARY OF CASE LAW It is not possible to ignore the statutory date embedded in the Act and adopt the conversion date as the bench mark date for finding out the FMV. CASE LAW DETAILS Decided by: ITAT, COCHIN BENCH, COCHIN, In The case of: Arun Sunny v.DCIT, Appeal No.:ITA NO. 117/COCH/2009, Decided on: APRIL 28, 2009 RELEVENT [...] Full Article

SUMMARY OF CASE LAW The Commissioner can regard an order as erroneous on the ground that in the circumstances of the case the Assessing Officer (AO) should have made further enquiries before accepting the statements made by the assessee in his return; it is incumbent on the AO to investigate the facts stated in the [...] Full Article