Income Tax Judgements
Section 14A of the Income-Tax Act,
CA. Amit Daga 28 March 2008 at 10:09
Interest earned from income tax dept.
CA Praveen Chopra 27 March 2008 at 20:45
Interest earned from Income Tax Department & staff loans to be assessed under 'other sources'; Interest on Credit sales is business income; When profit is negative, deduction under Section 80 HHC is nil
CBDT Clarification on Amendment to Section 271 of Income Tax
CA. Amit Daga 27 March 2008 at 17:15
Excise duty and sales tax under section 80HHC(3)
CA Praveen Chopra 24 March 2008 at 18:58
Excise duty and sales tax cannot form part of 'total turnover' u/s 80HHC(3), otherwise formula becomes unworkable : ITAT Special Bench
Section 80-IA-Synco Industries vs. ITO (Supreme Court)
CA Jonu Jain 20 March 2008 at 18:14
(a) If the assessee has suffered a loss in one unit, the same has to be set-off against the profits of the undertaking eligible for deduction u/s 80IA etc and if the resultant figure is a loss, no deduction under Chapter VI-A is allowable; (b) Whe
India-Malaysia treaty- taxed in country where income accrued
CA Jonu Jain 19 March 2008 at 18:34
The Supreme Court ruled that dividend income received from a foreign company is not liable for taxation when there is a tax treaty with the country the company is based in, which stipulates that dividend is to be taxed at source. The court has endors
Section 80IB
CA Praveen Chopra 19 March 2008 at 15:28
Profits and gains from any business of industrial undertaking - no direct nexus required between activity of an industrial undertaking and profits and gains
Penalty-Concealment of income
CA Praveen Chopra 16 March 2008 at 21:04
The penalty U/s 271(1)(c)of the Income Tax Act 1961 could not be imposed on the assessee since it was under a bona fide belief that income on sale of debentures was taxable as capital gains. Further such gains had been treated ascapital gains in earl
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