Judgements by CA.Saibaburao Nanduri

Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".

Held by the Hon`ble Court that, a perusal of the annual report and overview of the projects clearly shows that the projects were in consonance with the objectives sought to be achieved by the assessee, which were for the benefit of adolescent girls a

Held by the Hon`ble Court that, explanation 1 of section 32(1) does not apply in a case of construction on the land which is taken on lease by the assessee, assessee did not acquire a capital asset but had put up a construction of the building only f

Held by the Hon`ble Court that, in the absence of any definition of the word manufacture one should appreciate the meaning as commonly understood by a reasonable person, form this point of view conversion of blank disc to a software loaded disc is cl

Held by the Hon`ble Bench that, the scope of section 147 of Income-tax Act, is not for reversing the earlier order suo motu. Therefore reassessment is not permissible on the basis of change of opinion.

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

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

Held by the Hon`ble Bench that section 244A(1)(b) applies to "in any other case" which includes refund of tax as a result of payment of self assessment tax. It is further provided that interest shall be payable on the amount held and utilised by the

Held by the Hon`ble Court that, it is not necessary to establish that debt had become bad only to write it off as irrecoverable in its accounts is enough to claim deduction u/s 36(1)(vii).

Held by the Hon`ble Court that, any `forced illness` of the machinery cannot disentitle to the assessee to claim the depreciation allowance, form the director report it is clear that the assessee was prevented form using the machinery because of the