The Commissioner’s Order-in-Appeal dated 27.05.2008 reflects that he accepted that the efficiency of the employees of an organization would be dependent on various factors, one such being the provision of a housing colony. He further conceded that these facilities would contribute to the enhancement of the productivity of the organization. Having stated so, the appellate [...]

Assessing Officer committed an error in resorting to explanation to section 73 of the Act. The issue before him was whether the income earned by the assessee through sale of shares should be taxed as business income or should be treated as capital gain. Such issue had to be decided on the basis of the [...]

Issue of whether the petitioner fell within the category of a ‘scientific research association’ or in the category of ‘other institution’ partly doing scientific research should be considered by the central government afresh in the manner indicated above and in accordance with law. To enable this, we are setting-aside the notification dated 12.04.2007 and direct [...]

Tribunal deleted the addition made on account of difference of balances of Rs.14,03,85,459/-. The Tribunal after considering the explanation of the assessee-respondent and the findings of the CIT(A), recorded the reconciliation statement substantiated by necessary evidence which had been furnished by the respondent assessee. The remand report of the Assessing Officer was also called for [...]

Section 127 H of the Customs Act, 1962, prior to its amendment by Act No.22 of 2007, empowered the Settlement Commission to grant immunity, inter alia, either wholly or in part of any part of the interest. With effect from 1 June 2007 an amended provision was brought into force by which the Settlement Commission [...]

Period of six months as provided in Sub-section (2) of Section 12AA is not mandatory. Though the word ‘shall’ has been used but it is well known that to ascertain whether a provision is mandatory or not, the expression ‘shall’ is not always decisive. It is also well known that whether a statutory provision is [...]

Assessee is a limited company. The Government of Gujarat floated Sale Tax Deferment Scheme. For facilitating the industrial units to avail such benefit of the Sale Tax Incentive Scheme in the State, pari passu charge was to be created in favour of the Sales Tax Department, as decided by the Government of Gujarat and as [...]

We would just like to point out some observations by a prominent lawyer Shri Fali S Nariman in his book ‘India’s legal system: Can it be saved?’ At page 144, he observes: ‘We are overburdened with excessive case law and this is positively on the deficit side in our quest for the administration of speedy [...]

The Commissioner after recording cogent reasons found that the order passed by the Assessing Officer was erroneous and also prejudicial to the interest of the Revenue. He was therefore, on facts of the case entitled to exercise revisional powers under section 263 of the Act. While doing so, he remanded the proceedings before the Assessing [...]

Section 80G(5)(i)(b) provides the condition for exemption or rejection of the application for renewal, if the donation made to the institution or funds are not used by it directly or indirectly for the purpose of such business. In the present case the Commissioner did not record any such finding that the funds, which was earmarked [...]