Income Tax Judgements

Held by the Hon`ble Court that, nothing was produced before Tribunal and Court, therefore A.O. relied on some non existent material and the addition made by him is set aside

Section 260A of the Income-tax Act, 1961 – High Court – Appeal to – Assessee purchased certain land at a consideration as shown in sale deed executed therefor – Subsequently, certain notes on loose sheets allegedly written by assessee were found and

Section 80HHC of the Income-tax Act, 1961 - Deductions - Exporters - Assessment year 1992-93 - Whether term ‘profit’ in section 80HHC both in sub-section (1) and in sub-section (3) means a positive profit worked out after taking into consideration lo

Section 41(1) of the Income-tax Act, 1961 - Remission or cessation of trading liability - Assessment year 1984-85 - Whether an unilateral entry on part of assessee-debtor to write back amount of liability lying unclaimed on ground of limi

Rule 3 of the Income-tax Rules, 1962 read with section 88 of the Income-tax Act, 1961 - Valuation of perquisites - Assessment years 2004-05 and 2005-06 - Assessee, a public school was providing free educational facilities to children of its employee

Section 15, read with sections 10(10CC) and 17(2) of the Income-tax Act, 1961 - Salaries - Chargeable as - Assessment year 2003-04 section 10(10CC) of the Income-tax Act, 1961 - Tax on perquisites met by employer - Exemption to - Whether where employ

TDS on 'usance interest' - Payment of interest u/s 201(1A) - effective date - liability from the date of payment and not from day Gujarat HC decision given : ITAT Third Member

Section 5, read with section 9, of the Income-tax Act, 1961 - Income - Accrual of - Assessment year 1998-99 - Whether provisions of section 5(2) make it clear that under Act so far as foreign companies are concerned, taxable unit is a foreign company

Held that interest paid by the investment company on funds borrowed for purchase of shares, irrespective of the fact whether such shares were to be held as stock in trade or investment or for acquiring controlling interest in other companies, was ded

Transfer of immovable property - capital gains - To attract clause (v) of Sec 2(47), it is not necessary that full sale consideration is received by the owner : Advance Ruling