Income Tax Judgements

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.

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.

Section 2(7), read with section 4, of the Interest-tax Act, 1974.

There are a number of tests which are required to be considered while deciding whether the expenditure was revenue or capital in nature. A number of judgments have been cited before us in that regard. However, in the absence of the requisite details

Section 2(7), read with section 4, of the Interest-tax Act, 1974.

In the instant case, the matter was to be remitted to the Assessing Officer for the following reasons. Firstly, in the instant case there was no factual finding recorded by the High Court as to whether the ‘sales made through the export houses by the

It was not in dispute that when the order of the Commissioner was passed, there were two views on the word ‘profit’ in section 80HHC. The problem with section 80HHC is that it has been amended eleven times. Different views existed on day when the Com

The power to levy a surcharge on income-tax is traceable to article 271 read with entry 82 of list I of seventh schedule to the Constitution of India. That power is not traceable to section 4 of the 1961 Act. Every year the Finance Act is enacted by

The assessee was engaged in the business of printing and publication of yellow pages directory. It claimed deduction under section 80Q in respect of profits derived from such business. The Assessing Officer as well as the Commissioner (Appeals) denie

There is a conflict of opinions between the judgments of the Division Bench of the Supreme Court in the case of Dilip N. Shroff (supra) on one hand and on the other in the case of Shriram Mutual Fund (supra). Secondly, the object behind enactment of