The Hon’ble Kerala HC in the case of Jose Kuruvinakunnel vs. CIT held that the I.T Act does not envisage double taxation and assessment should be in the hands of the right person and that there cannot two assessments for the same income.
The Hon’ble Kerala HC in the case of Beacon Projects Private Limited held that a sum paid can be termed as interest only when the same is paid in respect of a pre-existing debt obligation and there existed a debtor-creditor relationship.
The Hon’ble Kerala HC in the case of Kerala Kamudi P. Ltd. held that the assessee is allowed to follow hybrid system of accounting for different nature of transactions provided the same is followed consistently and income can be deduced from such accounting.
In case of Prabhat Chandra S Jain Vs. ACIT Pune bench of ITAT have held that where it is not established that name PC Jain of Mumbai written in the said document was in fact the assessee before us and in the absence of any evidence having been found to establish that the assessee
In the case of M/s PVP Ventures Ltd. Vs. DCIT Chennai Bench of ITAT have held that assessment could not be made in the hands of non-existing company. ITAT observed that the company, assessed at Hyderabad, has amalgamated into assessee.
A search took place on 14.02.2006 in the premises of M/s Radico Khaitan.In the course of these search proceedings, various documents including reports narrating amounts alleged to have been received or receivable from various members of the UPDA and the basis thereof were recovered.
Punjab & Haryana High Court in case of B.M.J Real Estate P. Limited held that where the consideration received or accrued as a result of transfer of capital asset being the land or building is less than the value adopted or assessed by the stamp valuation authorities
The Hon’ble Punjab & Haryan High Court in the case of Shri Krishan Gopal HUF held that the levy of interest u/s 234A , B & C is part and parcel of the of assessment process and it is open to an assessee to dispute the levy in appeal provided he challenge the very levy rather than claiming any waiver
In the case of Fifth Avenue Sourcing (P) Ltd. V/s Commissioner of Service Tax it was held BY Madras High Court that second proviso to Section 35F of the Act makes it abundantly clear that the proviso to this Section shall not apply to stay applications and appeals pending before the appellate authority prior to the commencement of the Finance Act (2 of 2014).
In the of CIT Vs. Noida Medicare Centre Ltd, Delhi High Court held that the AO erred in disallowing the capitalization of the additional customs duty in the manner claimed by the Assessee and adding the entire customs duty paid in the relevant AY to the income of the Assessee.
