Held by Ho"ble Court that the application for extension of time submitted by the assessee and the reply to the show cause notice was not considered by the AO while levying the penalty for not furnishing the wealth-tax return with in due date as evide
Held by the Hon'ble court that exemption u/s 5(1)(iv) has been provided to one house or part of the house belonging to the assessee.Cinema building and market cannot be held as a house.
Held by the Hon"ble court that two contiguous buildings in the same compound constituted a house belonging to the assessee exclusively used by him for residential purposes hence the assessee was entitled to exemption in respect of both the buildings.
Held that, let out portion not exempted, only part used for the business is exepmted.
Held by the court that any Immovable property can not be valued at reversionary value for the purpose of capitalising the net annual letting value
Held that in the absence of material on record justifying the delay in filing of returns, assessee is liable to pay penalty for the entire period.
Held by the Court that the computer software sold off the shelf comes under the purview of definition of Goods under section 2(h) of the Andhra Pradesh General Sales Tax.Therefore these can be termed as sale of goods and hence sales tax is leveivable
Held by Supreme Court that under section 56(1) (i) of the Foreign Exchange Regulation Act,although imprisonment is compulsory for not less than six months,yet the company can be prosecuted. It is clear and explicit that statute do not provide any imm
Held by Ho"ble court that liability u/s 141 is attracted if the person accused was incharge of and responsible for conduct of the company at the time of the offence. Hence the above mentioned fact has to be established before applying section 141.
'Chargeable gift'- Hindu law - Settlement of share of HUF on unmarried daughter The assessee were members of an HUF known as CD family.'C' the karta died on 29 January 1987. Due to some disputes arising among family members, a family arrangement wa