 Judiciary
Displaying 1240 - 1250 of 1440 in 144 pages
By Ravikumar.G On 15 October 2007 at 15:05
Section 65 of the Finance Act, 1994 - Cable operator - Whether if a society is a cable operator and provides cable services as understood under section 2(b) of Cable Television Networks (Regulation) Act, 1995 to a customer and to any person, it would... Continue Reading
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By CA.Saibaburao Nanduri On 15 October 2007 at 11:38
Held by the Hon`ble Court that, Though sub partnership has not been defined either in Income-tax act or in Partnership act but the pre-requisite of exemption under the provision of section 10(2A) is that the assessee must be a partner of a firm which... Continue Reading
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By CA.Saibaburao Nanduri On 13 October 2007 at 20:40
Held by the Hon`ble Court that, section 69A applies only if assessee is found to be owner of money or things found and neither possession nor the ownership is proved by slips. Therefore addition is not justified in law.
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By CA.Saibaburao Nanduri On 13 October 2007 at 14:53
Held by the Hon`ble Court that, the interest accrued or paid on accumulated profits cannot be said to be a "benefit of partnership" and section 64(1)(iii) permits adding or clubbing to the income of the assessee only the income of a minor child of th... Continue Reading
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Income Tax | 0 comments | hits
By CA. Rayan Sequeira On 12 October 2007 at 21:41
SECTION 40A(3)
Business expenditure—Disallowance under s. 40A(3)—Cash payment exceeding Rs. 2,500—Assessee
dealing in silver ornaments, if he had to do his business could not avoid paying by cash—Exceptional
or unavoidable circumstances, therefore... Continue Reading
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By CA. Rayan Sequeira On 12 October 2007 at 21:41
Recovery—Attachment—State’s right of priority—Sale proceeds of attached property taken by some
other attaching decree holder—Recovery of tax due to the Department—Prohibitory order issued by
Collector in respect of certain shares belonging to the d... Continue Reading
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By CA.Saibaburao Nanduri On 11 October 2007 at 12:07
Held by the Hon`ble Court that, under the settlement of the contract damages are paid and no physical delivery, only price difference between sale and purchase is considered. Therefore loss on sale of share is a speculative loss.
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By CA.Saibaburao Nanduri On 10 October 2007 at 15:47
Held by hon"ble court that under mercantile system of accounting assessee is entitled to deduction of loss/ expenditure in the year in which such entry is made in books of account. Hence, A.O. is not justified in disallowing deduction for amount paya... Continue Reading
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By CA. Dashrath Maheshwari On 10 October 2007 at 01:51
The Bombay High Court has ruled that companies are bound to pay the prescribed minimum wage
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Audit | 0 comments | hits
By Ravikumar.G On 09 October 2007 at 17:21
Section 194A of the Income-tax Act, 1961 - Deduction of tax at source - Interest other than interest on securities - Assessment years 2000-01 and 2001-02 - Whether where assessee had borrowed money from financiers for making payment to its suppliers ... Continue Reading
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