Courts: Allahabad High Court
Find latest Allahabad High Court judgments, orders and case laws on Income Tax, GST, Company Law, Customs and other tax, business and legal matters.
Rent from Simple Letting of Property is Business Profits
Depreciation on cooling chambers of the cold storage is allowable at the rate of 25%
Sale proceeds’ in Sec 10A also means net proceeds if the goods are purchased from foreign buyers on credit and assessee is entitled to benefits u/s 10A
An order passed under sub-section (6) or (7) of s 206C is appealable under s 246 (now s 246A) of the Income-tax Act
Share transactions declared by assessee cannot be doubted merely on ground that shares were of lesser known companies and their value cannot appreciate to the level claimed by the assessee
M/s MD Overseas Limited Vs. DGIT (Allahabad HC)
After receipt of return in response to notice under Section 148, it shall be mandatory for AO to serve a notice on assessee under section 143(2) assigning reason therein.
Provisional attachment of property -Section 281B provides for attachment of property of assessee only and of no one else
Assessment of rental income- For purpose of assessment under head “profit and gains of business or profession”, it shall be necessary that property acquired and used is for commercial purpose under business activity
To avail the benefit of s.57(iii) is that investment must be proper & justified
Brief Summary of Allahabad High Court decision in Ayodhya Case
Depreciation-Allowability-Trucks in the names of directors
Expenditure for construction of hospital building for general public is expenditure incurred for charitable purposes
Section 80HH to section 80U under chapter VI-A are not independent and shall be governed by the provisions of section 80A read with section 80B(5) of the Act
Allahabad High Court judgments and orders cover a wide range of constitutional, taxation, commercial and other legal disputes. This TaxGuru page brings together Allahabad High Court case laws on Income Tax, GST, Customs, Company Law, insolvency, recovery, penalties, reassessment, writ proceedings and other matters relevant to taxpayers, businesses and professionals. Chartered Accountants, advocates, tax professionals, companies and other readers can use this page to research important rulings and understand the legal principles considered by the Court. The collection includes recent as well as significant earlier Allahabad High Court decisions published on TaxGuru. Case summaries and analysis help readers identify the issues, findings and implications of important judgments while providing access to developments in tax and commercial jurisprudence before the Allahabad High Court.
