Tuesday, June 21, 2011

Some - Case Laws

Income Tax - 2009 - TMI - 32988 - HC
Power to issue warrant for search - Mere empowering certain specified Deputy Directors of Income-tax (Investigation) and Deputy Commissioners by virtue of the mere re-designation of Deputy Directors of Income-tax as Joint Directors of Income-tax, would not, itself mean that a Joint Director of Income-tax is also empowered – held that there is no notification issued by the CBDT specifically empowering any Joint Director of Income-tax (Investigation) to authorize action under Section 132(1)

Income Tax - 2009 - TMI - 32987 - HC
Whether the loss determined by the Assessing Officer, being different from the loss as claimed by the assessee in the return, can be carried forward in view of the provisions of Section 80 r.w.s. 139(3) - Whether the tribunal has erred in law in holding that the AO had exceeded its jurisdiction in not allowing the carrying forward of the loss after the tribunal had issued directions in the earlier round - Both questions of law are answered in favour of the assessee and against the Revenue

Income Tax - 2009 - TMI - 32986 - HC
Held that that interest under sections 234B and 234C is to be charged after the tax credit (MAT credit) available under section 115JAA is set off against tax payable on the total income - Tribunal was correct in law in holding that rectification could not be made by the Assessing Officer under Section 154 of the Income Tax Act, 1961 as the issue regarding charging of interest under Section 234-B of the Act without giving set off of MAT credit available to the Assessee was highly debatable

Income Tax - 2009 - TMI - 32984 - HC
Challenge to ruling of AAR – held that Authority while giving a finding of fact that none of activities mentioned in Ex. (2) to S. 9(1)(1) is carried on by the petitioner in India, it then erroneously applied the ratio of decision of SC in the case of R.D.Aggarwal and Anglo French Textile Co., to hold that the activity of liaison offices of the petitioner constituted a `business connection' in India and hence, income shall be deemed to accrue/arise in India, to petitioner in UAE

Income Tax - 2009 - TMI - 32983 - HC
Whether reopening of the assessment beyond four years is justified – reassessment order on ground that goodwill is not an intangible asset and, therefore, not eligible for depreciation u/s 32(3)(b) – since there was no failure on the part of the petitioner to disclose all facts, the reopening of the assessment after the expiry of 4 years cannot be sustained - ingredients of section 147 are not fulfilled by revenue - notice issued u/s 148 after the expiry of four years is quashed and set aside

Income Tax - 2009 - TMI - 32982 - HC
Trust – huge demands - Whether C.I.T. (A) is justified in declining to grant absolute stay of demands during pendency of appeals – CIT (A) directed the petitioner to pay 10% of the demands i.e.1.5 crore now and remaining till disposal of appeal - fact that the undisclosed income on account of donation been taxed in the hands of trust as well as the principle trustee, order of C.I.T. (A) is modified - stay of recovery shall be subjected to furnishing of bank guarantee in sum of 1.50 crore

Income Tax - 2009 - TMI - 32981 - HC
Power to issue warrant for search - Mere empowering certain specified Deputy Directors of Income-tax (Investigation) and Deputy Commissioners by virtue of the mere re-designation of Deputy Directors of Income-tax as Joint Directors of Income-tax, would not, itself mean that a Joint Director of Income-tax is also empowered – held that there is no notification issued by the CBDT specifically empowering any Joint Director of Income-tax (Investigation) to authorize action under Section 132(1)

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Dear Friends : The emails are schedule to be posted in the blog and will sent to the group on carious dates and time fixed. Instead of sending it on one day it is spread on various dates.  Regards. R R Makwana
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Tags 132 , 12, 147,AAR ,MAT,

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