Archive for the ‘LEGAL DECISIONS’ Category
Apr-18th-2010
Commissioner of Income-tax v. AIMIL Ltd, December 23, 2009 (HC Delhi)
FACTS
The case relates to the assessment year 2002-03. The respondent assessee had filed its return on 30-10-2002 declaring income at Rs. 7,95,430. During the assessment proceedings, the Assessing Officer (AO) found that the assessee had deposited employers’ contribution as well as employees’ contribution towards provident [...]
Apr-5th-2010
Commissioner of Income-tax vs. Gopal Purohit, January 6, 2010 (HC Bombay)
Questions
“(a) Whether, on the facts and circumstances of the case and in law, the Hon’ble ITAT was justified in treating the income from sale of 7,59,003 shares for Rs. 5,00,12,879 as an income from short-term capital gain and sale of 3,88,797 shares for Rs. [...]
Mar-23rd-2010
Summary of Judgment
Commissioner of Income-tax, Delhi-XVII vs. Aar Pee Apartments (P.) Ltd,August 28, 2009 (HC Delhi)
Questions
(a) Whether ITAT was correct in law in deleting the addition of Rs. 19,68,881 made by Assessing Officer and adopting the figure of cost of construction of Yusuf Sarai Project at Rs. 19,99,559 as against Rs. 39,69,440 declared by [...]
Mar-22nd-2010
Summary of Judgment
Carlton Overseas (P.) Ltd. vs. Income-tax Officer, August 18 2009 (HC Delhi)
FACTS
The petitioner is a Private Limited Company engaged in a business of manufacturing and export of footwear. For the assessment year 2002-03 the assessee-company filed the return of income on 30-1-2002 declaring an income of Rs. 3,02,91,449. In this return of income [...]
Mar-22nd-2010
Summary of Judgment
Assistant Commissioner of Income-tax, Circle-I, Udupi vs. Dr. K. Satish Shett, February 22, 2008 (HC Kar)
Question
“Whether the Tribunal was correct in applying the principle laid down by the Hon’ble Supreme Court in the case of Hindustan Steel Ltd. v. State of Orissa in 83 ITR 26 to the facts of the case for [...]
