Income Tax Judgements

Section 41(1) of the IT Act, 1961 - Remission or cessation of trading liability

CA Nikita 23 September 2007 at 13:02

Posted in Income Tax | 61 Views

Deduction for dividend earned and distributed u/s 80M before due date of return

CA Nikita 23 September 2007 at 13:02

Posted in Income Tax | 14 Views

Deduction-Export of goods- Export of goods purchased from EOU units

CMA Gul S 22 September 2007 at 13:42

The assessee was a registered merchant exporter. On receipt of orders directly from abroad it purchased goods from various parties including some purchases made from EOU units. These units were entitled to deduction under s.10B. The benefits only und

Posted in Income Tax | 23 Views

TDS-Work contract, Job work, Sale of goods - Goods manufactured as per customers specifications

CMA Gul S 22 September 2007 at 13:42

The assessee was manufacturing and trading in consumer electronic and trading in consumer electronic and home appliances. It outsourced manufacture of these articles from various concerns referred to as OEMs. The OEMs purchased raw materials on their

Posted in Income Tax | 116 Views

CAPITAL GAIN ::

CA.Saibaburao Nanduri 20 September 2007 at 14:06

Held by the Hon`ble Court that, agriculture land is a capital asset u/s 2(14) of the act, only on ground that the cost of acquisition was nil it could not be held that capital gain was not liable to tax.

Posted in Income Tax | 34 Views

Capital or Revenue Expenditure ::

CA.Saibaburao Nanduri 19 September 2007 at 16:49

Held by the Hon`ble Court that, it was an admitted fact by the assessee that structural changes had been made therefore it is capital expenditure in nature.

Posted in Income Tax | 23 Views

Deduction of tax at source - Amendment to section 199

CMA Gul S 19 September 2007 at 16:05

Deduction of tax at source - Amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had been brought in statute book only with effect from assessment year 1997-98, with prospective effect - I

Posted in Income Tax | 24 Views

U/s 80 (O) of IT Act

Ravikumar.G 18 September 2007 at 20:38

Section 80-O of the Income-tax Act, 1961 - Deductions - Royalty, etc., from certain foreign enterprises - Assessment year 2000-01 - Whether creation of website, being a highly specialized work which includes state of art programming, technical writin

Posted in Income Tax | 22 Views

U/s 199 of the Income Tax Act

Ravikumar.G 18 September 2007 at 20:38

Section 199 of the Income-tax Act, 1961 - Deduction of tax at source - Credit for tax deducted - Assessment year 1996-97 - Whether amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had b

Posted in Income Tax | 20 Views

Section 54F of the Income-tax Act, 1961

Ravikumar.G 18 September 2007 at 20:38

Section 54F of the Income-tax Act, 1961 - Capital gains - Exemption of, in case of investment in residential house - Assessment years 1997-98 and 1998-99 - Assessing Officer denied exemption under section 54F on ground that assessee was in possession

Posted in Income Tax | 36 Views