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Judgments and Orders

The enhance amount in insurance claim shall carry interest 7% from the date of application

 07 May 2012

The appellant and other legal representatives of Swaran Singh filed a petition under Section 166 of the Motor Vehicles Act, 1988 (for short, ‘the Act’) for award of compensation to the tune of Rs. 4 lacs. They pleaded that the accident was caused due..

Posted in Civil Law |   1217 hits

After filing appeal if appellant feel that the tax effect is not significant he can withdraw with prior approval

 07 May 2012

The captioned appeal is fixed for hearing before the Hon’ble ‘G’ Bench today. The appellant has received partial relief. As the tax effect of the remaining issue is not significant, the appellant does not wish to pursue the appeal. In the circumstanc..

Posted in Taxation |   1073 hits

Rule 8D is prospective and effective only from the assesseement year 2008-09

 07 May 2012

The only ground of appeal shows the grievance of the appellant against the order of the Ld. CIT(A)-39, Mumbai. who held that the interest to the tune of Rs..41,05,081/- should be considered for working out the disallowance u/s.14A of the Act. Briefly..

Posted in Taxation |   1152 hits

Quantum of deduction under sec 80HHC under the provision of sec 115JB limited to relief certified by the Chartered Accountant

 05 May 2012

On the facts and in the circumstances of the case, the learned CIT (A) has erred in law and on facts in deleting the disallowance made by the Assessing Officer on account of N deduction claimed by the assessee u/s 80HH of the Income Tax Act, 1961...

Posted in Taxation |   1531 hits

If the order under sec 263 does not survive than the assessment order made under that sec also not survive

 05 May 2012

We have heard both the sides and perused the material placed before us. The facts of the case are that the impugned appeal has originated from the assessment order dated 28.12.2010 which was passed by the Assessing Officer in pursuance to the order u..

Posted in Taxation |   1255 hits

In the absence of cooperation from assessee Ld CIT will be free to adjudicate the appeal on merit basis

 04 May 2012

Referring to the grounds of appeal, it was submitted by the learned AR that the assessee had reasonable and sufficient cause for non-appearance before CIT (A) as Shri Ajay Gupta was suffering from high blood pressure. He submitted that otherwise also..

Posted in Taxation |   1237 hits

Depreciation on computer can be claimed at 60%

 04 May 2012

The return of income in the present case was filed at a loss of Rs.19,03,733/-. The only addition made to that loss is regarding depreciation claimed on computers which is granted by the Assessing Officer @15% as against the claim of the assessee of ..

Posted in Taxation |   1685 hits

The Court can reject the application of compounding of offence under sec 147 of NI Act in the absence of settlement between parties

 03 May 2012

In the above mentioned complaint filed by the respondent, it has been averred that in the year 2007, a payment of Rs. 4,50,000/- was made to the petitioners as part payment for purchasing a flat in the project named “Shivkala SRS Glamour”, which was ..

Posted in Criminal Law |   2661 hits

AO is to be treated as in default under Rule 46A while not accepting additional evidence

 03 May 2012

The facts, in brief, are that the assessee is a Doctor by profession and also a partner in Shushrusha Hospital & ICU. During the year under consideration, the assessee filed his return of income declaring total income at Rs. 2,94,000/-. Subsequently,..

Posted in Taxation |   1537 hits

Non appearance deserve the appeal to be un-admitted as per the provision of Rule 19 and appellant can recall after explaining the reason

 03 May 2012

. In the case of Commissioner of Income-tax vs. Multiplan India (P) Ltd.; 38 ITD 320 (Del), the appeal filed by the revenue before the Tribunal, which was fixed for hearing. But on the date of hearing nobody represented the revenue/appellant nor any ..

Posted in Taxation |   1097 hits

Company engage in purchasing and selling of securities can be treated as business activity

 02 May 2012

From the observation we can find the following fact.. The assessee is a company engaged in management consultancy, implementation of internal controls, system audits, arranging finance from financial institutions and financing and advisory services ..

Posted in Taxation |   1429 hits

Tax effect should be minimum otherwise appeal deserved to be dismissed

 02 May 2012

That being so and in view of the recent CBDT Instruction No. 3 of 2011 dated 9th February, 2011 reported in (2011) 332 ITR 1 (Statutes) and the ratio of the decision of the Hon’ble Jurisdictional High Court in the case of CIT v. Madhukar K. Inamdar (..

Posted in Taxation |   1227 hits

Punishment not prescribed under the statutory rules cannot e imposed

 30 April 2012

This appeal has been preferred against the impugned judgment and order dated 19.7.2011 passed by the High Court of Judicature at Allahabad in CMWP No. 39609 of 2011, wherein the case of the appellant against the order of punishment in disciplinary pr..

Posted in Civil Law |  1 comments |   2210 hits

As per sec 23(1) deduction from house property income can be claimed only under sec 24

 30 April 2012

Analysis of the case found the following ... Ground no. 1 is regarding the disallowance of interest u/s. 14A. We have heard the learned AR as well as the learned DR and considered the relevant material on record. Both the parties have agreed that th..

Posted in Taxation |   2013 hits

Additional amount paid for custom duty can be capitalized to claim depreciation even the decision is pending

 30 April 2012

On the facts and circumstances of the case, the ld. CIT(A) has erred in overlooking the fact that though similar issue was raised during A.Y. 2005-06 and 2006-07 and decided in favour of the assessee by the Hon’ble High Court of Delhi, but the Custom..

Posted in Taxation |   2139 hits

Income from other source should be compute as per the provision of sec 57of the Act

 30 April 2012

Out of the 05 (Five) Grounds of Appeal filed by the appellant against the order of the CIT(A) dt. 01-12-2010, the following 03 (Three) Grounds of Appeal are effective. They are: “The learned CIT(A) 21 erred in upholding the adding back to the tota..

Posted in Taxation |   1742 hits

Statutory byelaws brought into effect with the approval of SEBI under sec 9 of SCR Act 1956 prevail over the limitation Act 1963

 30 April 2012

The present petition under Section 34 of the Arbitration & Conciliation Act, 1996 (‘Act’) is directed against the Award dated 25th January 2006 passed by the learned Arbitrator (‘Respondent No.2’) holding that the claims of the Petitioner in respect ..

Posted in Others |   1735 hits

Provision of sec 205A and 205C related to unpaid dividend cannot be consider as arbitrary and violative to Article 14

 30 April 2012

The Companies (Amendment) Ordinance, 1998 (No.19 of 1998) sub-section (5) of Section 205A of the Companies Act (hereinafter referred to as the „Act‟), 1956 was amended as regards transfer of unpaid dividend account of a company to the fund establishe..

Posted in Corporate Law |   2428 hits

Compensation determined by Motor Accident Claims Tribunal

 27 April 2012

Facts: Shri Swaran Singh died in a road accident when the Maruti car in which he was travelling with Varinder Singh went out of control. Varinder Singh, who was driving the vehicle also suffered multiple injuries and died on the spot. - The appell..

Posted in Civil Law |  1 comments |   7477 hits

As per the SC decision Court cannot interfere in policy matter of state unless the policy violate the mandate of constitution

 27 April 2012

In the present case also, no obligation on the part of the respondents to frame the Rules, notwithstanding the impracticality thereof, is established. It is purely a policy matter. The Supreme Court in Kanhaiya Lal Sethia Vs. UOI (1997) 6 SCC 573 hel..

Posted in Constitutional Law |   3579 hits