high court judgments - Page 10

No sec 40A(2)(b) rws 36 disallowance on Trade advance given to sister concern

CIT Vs. M/S Ghari Industries Pvt. Ltd. (Allahabad High Court)

No disallowance can be made under Section 40A(2) (b) read with Section 36 of the Income Tax Act of interest paid on borrowed funds for trade advance given out of commercial expediency to sister concerns....

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Fired from Job for being drunk on the way to duty is Shockingly Disproportionate: HC

M.G.Venu Vs Sbi Life Insurance Company Limited (Kerala High Court)

An employee wins a foreign jaunt; apart from the pleasure pursuit, the employee will undergo training abroad. On board the flight bound overseas, the employee is found drunk, too much. He is deplaned. The employer treats it as grave misconduct, punishes him —with removal from service. Is the punishment shockingly disproportionate...

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Expenditure on website is revenue in nature and is allowable

Pr. Commissioner of Income Tax Vs Zydus Wellness Limited (Gujarat High Court)

Delhi High Court in the case of CIT vs. Indian Visit Com Pvt Ltd (176 Taxman 164) held that in case of expenditure on website, there is no change in the fixed assets of the assessee and no asset has been created but it is a tool for facilitating the business of the assessee and therefore, held expenditure of website to be of revenue natur...

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Value of broken bottles need not be reduced from WDV to calculate STCG

CIT Vs M/s. Alankar Business Corporation Ltd. (Madras High Court)

Value of the broken bottles need not be reduced from the written down value for the purpose of calculation of short term capital gains arising from sale of bottles....

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Transfer of case from Delhi to Noida without disposing Appellants objection is invalid

Y. K. Gupta Vs Union of India And 4 Others (Allahabad High Court)

While scrapping an order transferring a case from Delhi to Noida, the division bench of the Allahabad High Court held that the holding of the office of a director by the petitioner and his admission to the undisclosed income are not sufficient grounds for transferring a case under section 127 of the Income Tax Act....

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HC not accepted standard excuses of dept. for delay in appeal filing

Pr. Commissioner of Income Tax Vs Diana Builders & Contractors pvt. Ltd. (Delhi High Court)

The Court finds that the standard excuse that the Department is putting forth in all such applications for condonation of delay in re-filing the appeal is two-fold. The first is regarding the budgetary constraints of the Departmen...

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Stay Application: No necessity to pre-deposit 15% of disputed demand

Jagdish Gandabhai Shah Vs principal Commissioner of Income Tax (Gujarat High Court)

High Court held that Considering the Office Memorandum F. No. 404/72/93- ITCC dated 29thFebruary 2016 as a whole, there is no such requirement of pre-deposit of 15% of the disputed demand either at the time of submitting stay application or before the stay application of the assessee is considered on merits. ...

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Bogus share capital: Source of source relevant even for period before amendment to section 68

Pragati Financial Management Pvt. Ltd Vs CIT (Calcutta High Court)

Main thrust of the appellant’s case is that the provisions of Section 68 of the Act as amended could not be given retrospective operation and if that position of law was accepted, then it was not open to the C.I.T. to direct an enquiry to ascertain the source and genuineness of the sums being projected by the appellants as capital recei...

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HC finds trial court judgment as one of worst judgment they ever seen

Raja (A3) Selvam (A4) Vs State rep by The Inspector of Police (Madras High Court)

In paragraph 24 of the judgment, the trial Court has extracted the alleged confession statement of all the accused in full ignoring the bar contained in Section 25 of the Evidence Act and has concluded that the accused 3 to 5 held the deceased and accused 2 attacked the deceased with a wooden rod and the first accused accused attacked the...

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Addition based on mere scribbling on Loose Papers cannot be sustained

Anuj Chawla Vs Commissioner of Income Tax (Delhi High Court)

This court is of the opinion that the material found was sketchy and insufficient to warrant a fresh valuation. In any case, the AO‟s order did not even go by the valuation report, but on an entirely different footing- not based on any principle at all. ...

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