high court judgments - Page 338

Despite s. 271(1B), s. 271 (1)(c) penalty is not valid if AO’s satisfaction not recorded at stage of initiation

Madhushree Gupta Vs. UOI (Delhi High Court)

In Ram Commercial Enterprises 246 ITR 568 (Del) {affirmed in Rampur Engineering 309 ITR 143 (Del) (FB)}, the Delhi High Court held that if the AO did not record his satisfaction that the assessee had concealed particulars of his income before completion of the assessment proceedings, the initiation of penalty proceedings...

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Mere retraction of the confession may not be sufficient to make confessional statement irrelevant

Meghraj Jain vs. UOI (Bombay High Court)

Pursuant to a search under FERA, the premises of the appellant were searched on 11.4.1989. Foreign currency was recovered though no incriminating material was found. In his statement recorded on the same day, the appellant confessed to indulging in various foreign exchange transactions. One Mr. Narendra Mirani also confessed that the fore...

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Expenditure incurred by a foreign company in India during period of lull in its business in India not allowable

CIT Vs Foramer France (Uttarakhand High Court)

6. Admittedly, the assessee in these appeals are non-resident companies having no permanent establishment in India. It is also not disputed that after the contract received by the assessee companies in the year 1983 and before, fresh contract was given to them by the ONGC only in the year 1999. Learned counsel for the appellant (revenue) ...

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Income Tax department can not tax research work

The Bombay High Court, in a recent order, came down heavily on the Income-Tax Department, which unilaterally injected an application for exemption for scientific and industrial research, without seeking guidance of experts on the matter. Tax authorities do not have the jurisdiction to decide on the issues pertaining to scientific research...

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Posted Under: Income Tax |

Section 271(1)(c) can be invoked only if there is a "concealment of particulars of income"

CIT Vs Haryana Warehousing Corporation (Punjab & Haryana High Court)

20. It seems to us that the revenue functions in the same manner as other departments of administration, wherein the accepted norm is, to shift the responsibility of decision making to the judiciary. In sum and substance, the judiciary not only adjudicates upon legitimate controversies between quarreling parties, but also discharges the e...

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Expenses reimbursed cannot be excluded from the amount defined in section 44BB(2)

CIT Vs RBF Rig Corporation (Uttarakhand High Court)

Whether, the ITAT has erred in law in holding that reimbursement of expenses on account of catering charges and fuel etc. to the assessee were not part of the gross receipts for the purposes of Section 44BB of the Income Tax Act, 1961? 5. Before further discussion, we think it just and proper to quote the provisions contained...

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Transfer Fees recd by Co-op Hsg Soc from members as per bye-laws or Government directions is exempt

Sind Co-operative Housing Society Vs. ITO

The society is registered with the object principally of looking after the property including building thereon. There is no trading or business transactions. The members by adopting the bye-laws agree amongst themselves that a fee for transfer of flat/tenement when it is sold would be paid to the society. It may be that both incoming or o...

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Sum due u/s 434 of the Companies Act, must mean what has fructified and can not merely be a contingent liability or deferred payment

Priyaraj Electronics Ltd. Vs Motorola India (P.) Ltd. (Punjab & Haryana High Court)

The sum due as referred to under section 434 of the Companies Act, 1956 must mean what has fructified and can not merely be a contingent liability or deferred payment; if the liability has not fructified within 21 days from the time the date of service of notice, it cannot be said to be a debt which company is unable to pay, in order that...

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Gratuity payment under the Payment of Gratuity Act, 1972 or otherwise exempt to the extent covered under the Income Tax Act

North West Karnataka Road Transport Corporation Vs Deputy Labour Commissioner (High Court of Karnataka)

No doubt, section 192 of the Income-tax Act requires the employer to deduct the income-tax from the salary and the salary is defined under section 17 of the Income-tax Act, which includes wages, any annuity or pension, any gratuity, any fees, commissions, perquisites or profits in lieu of or in addition to any salary or wages, any advance...

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Bombay High Court dismissed about 400 appeals of Income Tax department

The I-T department has lost the opportunity to recover revenues running into thousands of crores after failing to file its appeals before the Bombay High Court within the stipulated period of 120 days. The Bombay High Court has dismissed about 400 appeals recently. Section 260 A of the Income-Tax Act stipulates that an appeal against the ...

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