Income Tax Judgements

Capital Gain - Sale of entire undertaking

CA. A. Kumar 07 July 2008 at 18:39

Case Fact: Whether in a sale of the entire undertaking (bakery) as a whole, if two separate documents with respect to movable and immovable (Land) assets are executed, the provision of section 50 of Income-tax Act, 1961, will be applicable?

Posted in Income Tax | 62 Views

Deduction from Income from other sources u/s 57(iii)

CA. A. Kumar 07 July 2008 at 18:39

Case Fact: Whether amount paid by the assessee to lawyer for seeking tax and legal implications of an project, for which he was retained by the company to conduct a study and render his opinion, deductible u/s 57(iii)?

Posted in Income Tax | 71 Views

Capital or revenue expenditure

CA. A. Kumar 07 July 2008 at 18:39

Case Fact: Whether amount paid to stock exchange as non-refundable deposits for acquiring OTC membership is a capital expenditure or revenue expenditure?

Posted in Income Tax | 78 Views

Concealment of Income

CA. A. Kumar 07 July 2008 at 18:39

Case Fact: Whether demonetised high denomination notes having no value be regarded as unexplained money and treated as concealment of income?

Posted in Income Tax | 68 Views

SECTION 68

CA. A. Kumar 07 July 2008 at 12:22

Posted in Income Tax | 56 Views

Capital or Revenue Receipts

CA. A. Kumar 07 July 2008 at 12:22

Case Fact: Whether compulsory deduction made by sugar cooperative societies on account of non-refundable and refundable deposits and other funds are revenue receipts liable to be taxed under the Income Tax Act.

Posted in Income Tax | 62 Views

Valuation of stock

CA. A. Kumar 07 July 2008 at 12:22

Case Fact: Whether A.O. was justified in invoking section 145 to value closing stock at cost or market price which ever is lower where assessee had adopted the policy of valuing its closing stock at market price only

Posted in Income Tax | 76 Views