Income Tax Judgements

Held by the Hon`ble Court that, it is well settled law that while disposing of an appeal , the authority must record reason of its decision. Therefore it is not justified in law to dispose of an appeal without recoding any reason.

The assessee was a registered merchant exporter. On receipt of orders directly from abroad it purchased goods from various parties including some purchases made from EOU units. These units were entitled to deduction under s.10B. The benefits only und

The assessee was manufacturing and trading in consumer electronic and trading in consumer electronic and home appliances. It outsourced manufacture of these articles from various concerns referred to as OEMs. The OEMs purchased raw materials on their

Held by the Hon`ble Court that, agriculture land is a capital asset u/s 2(14) of the act, only on ground that the cost of acquisition was nil it could not be held that capital gain was not liable to tax.

Held by the Hon`ble Court that, it was an admitted fact by the assessee that structural changes had been made therefore it is capital expenditure in nature.

Deduction of tax at source - Amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had been brought in statute book only with effect from assessment year 1997-98, with prospective effect - I

Section 80-O of the Income-tax Act, 1961 - Deductions - Royalty, etc., from certain foreign enterprises - Assessment year 2000-01 - Whether creation of website, being a highly specialized work which includes state of art programming, technical writin

Section 199 of the Income-tax Act, 1961 - Deduction of tax at source - Credit for tax deducted - Assessment year 1996-97 - Whether amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had b