Karnataka High Court

Mere provision for bad debt not entitled to deduction U/s. 36(1)(vii)

Hajee A.P. Bava & Company Vs ACIT (Karnataka High Court)

Hajee A.P.Bava & Company Vs ACIT (Karnataka High Court) After 01.04.1989 it is not necessary for the assessee to establish the fact that the debt in fact had become irrecoverable and it is sufficient if the bad debt is written off as irrecoverable in the books of accounts of the assessee. In the facts of […]...

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Rate of depreciation in case of ATM machines

CIT Vs NCR Corporation Pvt Ltd (Karnataka High Court)

CIT Vs NCR Corporation Pvt Ltd (Karnataka High Court) Whether the tribunal is correct on facts and in law in holding that ATMs and encoders are computers eligible for 60% depreciation even when they do not provide processing activity and do not contain all features of computers and such cannot be called as computers? It […]...

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RBI Responsible for Monitoring Compliance of Loan Moratorium Circular: HC

Velankani Information Systems Limited Vs Secretary, Ministry of Home Affairs (Karnataka High Court)

The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises out of the implementation or not of a Circular issued by the RBI. RBI is therefore directed to monitor the implementation of the Circular, including verification of whether there are Board-approved policies form...

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Transfer of land held as stock on HUF partition not amounts to conversion into Capital Asset

CIT Vs C. Ramaiah Reddy (Karntaka High Court)

The issue under consideration is whether land held as stock, transferred upon HUF - partition, tantamount to conversion into capital asset for the purpose of imposing a capital gain tax?...

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Amendment in Section 40(a)(ia) vide Finance Act, 2010 are retrospective

A.Y. Garment International Private Ltd. Vs DCIT (Karnatka High Court)

A.Y. Garment International Private Ltd. Vs DCIT (Karnatka High Court) Whether the Tribunal was justified in law in holding that the amendment made by Finance Act, 2010 in the provisions of Section 40(a)(ia) of the Income-tax Act, 1961 is not retrospective in operation on the facts and circumstances of the case? The issue whether the [&hel...

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Non-compete fees paid to employee is part of salary & hence Not Taxable in India as per DTAA

The Director of Income-Tax Vs Sasken Communication Technologies Ltd. (Karnataka High Court)

The issue under consideration is whether the amount paid to the employees under the non-compete agreement is covered by the expression ‘salary/profits in lieu of salary’ or not? and If not then whether the TDS will be applicable or not?...

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GST: HC cannot be made middle authority between Tax & Appellate Authority

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court)

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) Learned Additional Government Advocate Sri.Vikram Huilgol for respondent No.2 submits that the appeal under Section 107 of Central Goods and Services Tax Act, 2017 are to be filed before the appellate authority. As such the petitioner cannot be so hurry a...

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ATM is considered as Computer hence Higher Depreciation rate allowed

CIT Vs NCR Corporation Pvt. Ltd. (Karnataka High Court)

High Court states that so long as functions of the computers are performed with other functions and other functions are dependant on the functions of the computer, ATMs are to be treated as computers and are entitled to higher rate of depreciation....

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Multiple independent residential units in same building can be treated as one residential unit for section 54F Exemption

Shri. Navin Jolly Vs ITO (Karnataka High Court)

Multiple independent residential units in same building can be treated as one residential unit for section 54F Exemption and usage of the property has to be considered in determining whether it is a residential property or a commercial property ...

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Wrongful Availment of ITC – Anticipatory Bail granted on bond of Rs.10 lacs

Sri Hanumanthappa Pathrera Lakshmana Vs State of Karnataka (Karnataka High Court)

The issue under consideration is that the petitioner filed writ petition for seeking grant of anticipatory bail, whether HC allow him the grant or not?...

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