Judgements by CA.Saibaburao Nanduri

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.

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.

Held by the Hon`ble Court that, the shares were allotted to the trust and trust made the grant to the employee subject to some condition. The stock option did not amount to perquisite and not covered under "salary".

Held by the Hon`ble Court that, the commissioner has power u/s 263 of the Income-tax Act, to revise an order issued by A.O. in pursuance to the direction of the inspecting assistant commissioner u/s 144A.

Held by the Hon`ble Court that, Tribunal was not justified in law for recalling the order passed by it in toto and setting the matter for a fresh hearing just because a point was debatable could hardly provide justification for recalling.

Held by the Hon`ble Court that, amount paid was in excess of the minimum bonus prescribed under the Payment of Bonus Act. Therefore deduction is allowed in Income Tax Act.

Held by the Hon`ble Court that, as assessee merely acted as an agent and amounts repaid by the directors/managing directors including interest were not reflected in its accounts as loans or borrowing of the assessee. Therefore assessee was not a pers

Held by hon"ble court that aforesaid transaction means reliniquishment of a right in property which is transfer as defined in section 2(47). Thus the transaction was liable to capital gains tax.

Held by hon"ble court that any amount the payment of which is necessary for transferring the asset will be treated as expenditure incurred wholly & exclusively in connection with such transfer.