Monday, January 4, 2010

ITR ISSUE Dt 4-1-2010 Volume 320 : Part 1

INCOME TAX REPORTS (ITR) HIGHLIGHTS

ISSUE DATED 4-1-2010

Volume 320 : Part 1

 

 

SUPREME COURT JUDGMENTS


>>CBDT circular avoiding harassment in the course of enquiry/search of the air-passengers by the Air Intelligence Units/Investigation Units of the Income-tax Department : Rajendran Chingaravelu v. R. K. Mishra, Addl. CIT p. 1

>>Sawing marble blocks into slabs and tiles and polishing entitled to deduction u/s 80-IA(2)(iii) : ITO v. Arihant Tiles and Marbles P. Ltd. p. 79

HIGH COURT JUDGMENTS


>>Tribunal not justified in reviewing its order : Express Newspapers Ltd. v. Deputy CIT (Mad) p. 12

>>Exemption u/s 10(26) available to member migrating from his place of origin in one of areas specified in section 10(26) to another area also specified therein : Pradip Kr. Taye v. Union of India (Gauhati) [FB] p. 29

>>High Court not interfering with notice for reassessment but granting one week time to assessee to file explanation before AO : Mavis Satcom Ltd. v. Deputy CIT (Mad) p. 46

>>Proceeding invoking provisions u/s 179 against director justified where concurrent finding that due amount could not be recovered from company : Alex Cherian v. CIT (Ker) p. 49

>>Order of Tribunal directing assessment not be at figure higher than that determined by AO u/s 144 not sustainable : CIT v. H. P. State Forest Corporation Ltd. (HP) p. 54

>>Tribunal not justified in remanding matter to Commissioner (Appeals) where Commissioner (Appeals) ascribing reasons and dislodging order of AO on merits : Rajesh Maheshwari v. Asst. CIT (MP) p. 58

>>Actual cost to assessee to be treated as WDV for purposes of depreciation : CIT v. Hybrid Rice International P. Ltd. (Delhi) p. 63

>>Tribunal to consider claim of accumulated agricultural income on basis of books of account of assessee and documents and certificates filed by assessee : Swapna Rani Sarkar v. CIT (Gauhati) p. 70

>>Interest on interest payable only where refund is made without interest and there is delay in payment of interest : Motor and General Finance Ltd. v. CIT (Delhi) p. 88

>>S 40A(3) does not apply unless any one payment is above Rs. 2,500 : CIT v. Ashok Iron and Steel Rolling Mills (All) p. 101

>>Provision for presumptive tax applicable where processes starting with soil testing and evaluation of available data, assessment of risk involved and certification as to whether rig could be moved from one site to another : Director of I. T. v. Jindal Drilling and Industries Ltd. (Delhi) p. 104

>>Notice for reassessment valid where reasons given by AO not influenced by superior officer : Jagjit Pal Singh Anand v. CIT (Delhi) p. 106

>>Reassessment on basis of order of DVO not valid where assessment order passed on 4-12-1990 : CIT v. Leather Trends (P) Ltd. (All) p. 114

>>Court will not interfere where deletion of additions for suppressed sales based on cogent reasons : CIT v. Mascot (India) Tools and Forgings (P) Ltd. (All) p. 116

AUTHORITY FOR ADVANCE RULINGS


>>Amount paid to Institute of University of Texas not taxable in India where activities of institute not technical services : Federation of Indian Chambers of Commerce and Industry, In re p. 124

STATUTES


>>Notified scientific research association u/s 35(1)(ii) p. 15

>>Officers nominated as members of DRP p. 15

>>Specified association/territory u/s 90A, Expln. 2(a) and (b) p. 14

>>Valuation of perquisites : Rule 3 substituted p. 1

 



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