high court judgments - Page 4

Sec.153B(2)(a) Mere Panchnama would not extend period of limitation

Pr. Commissioner Of Income Tax Central-3 Vs Ppc Business And Products Pvt. Ltd. (Delhi High Court)

The Court is not prepared to accept the plea of the Revenue that merely because a panchnama was drawn up on 15thMay, 2007 showing that the search was ‘finally concluded’ on that date, it postponed the period of limitation in terms of Section 153B (2) (a) of the Act....

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Mandatory Pre-Deposit U/s. 129E of Customs Act is Constitutionally Valid: Bombay HC

Haresh Nagindas Vora Vs Union Of India (Bombay High Court)

The Bombay High Court has upheld the constitutional validity of Section 129 E of the Indian Customs Act, 1962, that makes pre- deposit mandatory for filing an appeal before the tribunal or the Commissioner (Appeals) concerned....

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Addition based on mere statement of assessee which is retracted is not sustainable

CIT Vs Lavanya Land Pvt. Ltd (Bombay High Court)

The Tribunal considered the merits and once again, at great length. The particular argument revolving around the statement of Dilip Dherai and his answer to question No. 24 was also considered in paragraph 21 of the impugned order. Then, in paragraph 22, the Tribunal refers to the additions made under Section 69C....

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Interest on NPAs: RBI Directions U/s. 45Q of RBI Act prevail over sec. 145 of IT Act, 1961

Pr CIT Vs Shri Mahila Sewa Sahakari Bank Ltd (Gujarat High Court)

Appellant contended that section 43D of the Act itself recognises recognition of taxability of such interest and that when a specific provision in the nature of section 43D of the Act has been made, and entities like the assessee are excluded from the purview thereof, the assessee cannot indirectly claim benefit which would amount to [&he...

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Royal Buggy used by royal family for ceremonial occasions is exempt from Wealth Tax

Shantadevi p. Gaekwad Vs W.T.O (Gujarat High Court at Ahmedabad)

This appeal is filed by the assessee challenging the judgment of the Income Tax Appellate Tribunal (Tribunal for short) dated 26.9.2001. Appeal was admitted for consideration of following substantial question of law....

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Principle of Mutuality applies to Club run by a Company

Commissioner Of Income Tax Vs Karnavati Club Ltd. (Gujarat High Court)

This Tax Appeal is filed challenging the judgement of the Income Tax Appellate Tribunal dated 28.08.2006. The Tax Appeal has been taken up for consideration of following substantial questions of law: [A] “Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT(A) deleting the addition of [&h...

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Capital Gain Tax applicable on Transfers made by corporate entities under family arrangement /settlement

B.A.Mohota Textiles Traders Pvt. Ltd. Vs The Deputy Commissioner of Income-tax (Bombay High Court)

This appeal under Section 260A of the Income Tax Act, 1961 (Act) challenges the order date 23.4.2002 of the Income Tax Appellate Tribunal, Nagpur (Tribunal) relating to Assessment Year 1995- 96....

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Whether reassessment proceedings can be initiated on basis of CIT(A)’s directions

Raghunath Devchand Patil Vs Asst. Commissioner of Income Tax (Gujarat High Court)

It is the case on behalf of the petitioner that the assessment for A.Y 2008-2009 is sought to be reopen beyond the period of six years, solely on the directions issued by the learned CIT [A], which has been subsequently set-aside by the learned Tribunal. It is submitted that otherwise, the re-assessment proceedings beyond six years is not...

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No Action Can Be Taken against Tobacco Manufactures under FSSAI Act as it’s not a food product

Jayavilas Tobacco Traders LLP Vs The Designated Officer (Madras High Court)

The only submission made by the learned counsel for the petitioners is that the sale of tobacco would not attract the provisions of the enactment. He further submits that as per Rule 2.3.4 of the Food Safety and Standards (Prohibition and Restrictions on Sales) Regulations Act, 2011, tobacco shall not be used as ingredients in […]...

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No Penalty- When deeming provisions are applied for assessing income

Pr. CIT Vs. M/S Hariom Steels (P) Ltd. (Allahabad High Court)

Hon'ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income....

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