- Wednesday, December 2, 2009, 16:46
- Income Tax Case Laws
- 23 views
The assessee filed a revision petition u/s 264 in which it claimed that the subsidy received by it from the government was a capital receipt and not chargeable to tax in view of P.J. Chemicals Ltd 210 ITR 830 (SC). The Petition was allowed by the CIT. Subsequently, the Supreme Court held in Sahney Steel and Press Works 228 ITR 253 that the subsidy received by that assessee was a revenue receipt. Pursuant to this judgement, the CIT passed a rectification order u/s 154 by ..
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- Saturday, September 26, 2009, 5:15
- Income Tax Case Laws
- 107 views
CIT vs. Exide Industries (Supreme Court) S. 43B (f) was inserted by the Finance Act, 2001 w.e.f. 1.4.2002 to provide that any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee shall be allowed as a deduction only in the year of actual payment. The [...]
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- Sunday, May 10, 2009, 15:36
- Income Tax Case Laws
- 31 views
CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCH `A’, MUMBAI In The case of: ACIT v. VIP Industries Ltd. Appeal No. : ITA No. 4524/Mum/2006 Decided on: March 20, 2009 SUMMARY OF CASE LAW Where an assessee genuinely makes claim for a particular deduction by disclosing all the necessary facts relating to the same, that [...]
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