Income Tax Judgements

Income Tax - set off of the loss suffered in any of the previous year in the block period against the income assessed in other previous years in the block period is not prohibited:

Section 143, read with section 36(1)(vii), of the Income-tax Act, 1961 - Assessment - Prima facie adjustments - Assessment year 1994-95 - Whether as section 36(1)(vii) does not authorise granting of deduction of any debt unless it is written off in a

The assessee has written off 1/5th of deferred revenue expenditure in its books of account and claimed the expenditure on deferred basis in its return of income.

Case Fact: Whether, allowing exemption for children education and leave travel on the basis of declaration and affidavits given by the employees, the Tribunal was justified in law?

Income Tax Act, 1961 - Sections 17 and 192 - Free meals coupon issued to employees - Some of them misusing the same - Whether company is liable to deduct TDS from the value of such free coupons provided – Held, No.

Surcharge on block assessment cases whether retrospective from 01.06.2002 or not - matter refered to larger bench in SC.

Case Fact: Whether interest earned on share application money can be set off with Public issue expenses?

Section 11 of Income-tax Act, 1961 – Charitable or religious trust – Exemption of Income from property held under – Assessment years 1996-97 and 2001-02 – Assessee was registered under section 12A as a charitable society – While making its assessment

The IT authority does not assume any power to enter the business premises/Office of the CA/Lawyer/Tax Practitioner to conduct survey under section 133A of IT Act in connection with survey of the premises of their client unless the client state in th

Section 32, read with section 43(6), of the Income-tax Act, 1961 - Depreciation - Allowance/Rate of - Assessment years 2002-03 and 2003-04 - Whether for purpose of computing depreciation, only tax written down value of transferred assets of demerged