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HC - Assessee on account of having incurred heavy losses in share trading was not in a position to make payment of self-assessment tax at the relevant time and the revenue itself had granted installments to the assessee - no penalty u/s 140A(3) r.w. Section 221
COMMISSIONER OF INCOME TAX AHMEDABAD III Versus RAVI HANSRAJ GOUTHI (HUF)
(2014) TaxCorp(LJ) 4927 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=59017&Category=Judgment&CategoryType=Zip
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HC - Expenditure on IT system maintenance in respect of restructuring of company was not having enduring benefit and as no asset was brought into existence; allowable as revenue expenditure
Commissioner of Income-tax-I v. Gujarat Urja Vikas Ltd.
(2015) TaxCorp(LJ) 4916 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58230&Category=Judgment&CategoryType=Zip
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HC - Assessee was under the bona fide belief that amount received by it from different donors could be treated as corpus donation, penalty deleted
Commissioner of Income-tax v. Oshwal Education Trust
(2015) TaxCorp(LJ) 4908 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=57815&Category=Judgment&CategoryType=Zip
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HC - When loss shown by the assessee is not supported by a cogent documentary evidence, in the absence of such supporting material, loss is to be estimated
GUJARAT HEAVY CHEMICALS LTD. Versus DY. CIT
(2014) TaxCorp(LJ) 4884 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58988&Category=Judgment&CategoryType=Zip
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HC - For the purpose of interest u/s 234B and 234C, “assessed tax“ is defined to mean the tax assessed on regular assessment which means the tax determined on the application of Section 115J/115JA in the regular assessment
ACIT Versus GUJARAT STEEL TUBES LTD.
(2014) TaxCorp(LJ) 4883 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58961&Category=Judgment&CategoryType=Zip
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HC - Cinecasting/distribution of movies would be outside the purview of section 194C requiring tax deduction at source since no work is carried out by the distributor
COMMISSIONER OF INCOME TAX Versus CITY GOLD ENTERTAINMENT PVT. LTD.
(2014) TaxCorp(LJ) 4882 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58989&Category=Judgment&CategoryType=Zip
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HC - A single transaction may constitute a speculative business so as to be treated differently from other business under section 28
KANUBHAI A. PATEL Versus ACIT
(2014) TaxCorp(LJ) 4822 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58925&Category=Judgment&CategoryType=Zip
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HC - Since assessee proved identity of creditor and capacity to pay and that payment was made through banking channel, no addition could be made on account of unsecured loan
Commissioner of Income-tax, Ahmedabad – IV v. Sachitel Communications (P.) Ltd
(2014) TaxCorp(LJ) 4819 (HC-GUJARAT) · http://taxcorp.in/FileOpenDT.aspx?ID=58935&Category=Judgment&CategoryType=Zip
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HC - No TDS u/s 194C on exhibition of film in the theatre
CIT vs. City Gold Entertainment Pvt. Ltd.
(2014) TaxCorp(LJ) 4789 (HC-GUJARAT)
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HC - A single transaction may constitute a speculative business so as to be treated differently from other business under section 28
Kanubhai A.Patel vs. ACIT
(2014) TaxCorp(LJ) 4787 (HC-GUJARAT)
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Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification
Roxul Rockwool Insulation India Pvt Ltd. vs. UOI
(2014) TaxCorp(LJ) 4735 (HC-GUJARAT)
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S. 263: Failure to conduct inquiry & hear assessee before issue of notice renders proceedings invalid. Order of CIT(A) results in merger of AO's order and bars s. 263 revision
Bilag Industries Pvt. Ltd. vs. CIT
(2014) TaxCorp(LJ) 4568 (HC-GUJARAT) · Section. 263
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S. 271(1)(c) & 273(2)(a): Penalty cannot be mechanically levied. Cogent reasons have to be given
Amrut Tubewell Company vs. ACIT
(2014) TaxCorp(LJ) 4565 (HC-GUJARAT) · Section. 271(1)(c), 273(2)(a)
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S. 80-B(10): Law laid down in Radhe Developers 341 ITR 483 (Guj) on "works contract" is not affected by the law laid down by the Supreme Court in Larsen and Toubro Limited (2014) 1 SCC 708 and K. Raheja Development Corporation (2005) 141 STC 298
CIT vs. Vishal Developers
(2014) TaxCorp(LJ) 4509 (HC-GUJARAT) · Section 80-B(10)
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S. 271(1)(c): In the absence of a clear-cut finding by the AO as to whether it is a case of 'concealment' or 'furnishing inaccurate particulars', penalty cannot be levied
Mitsu Industries Ltd. vs. DCIT.
(2014) TaxCorp(LJ) 4334 (HC-GUJARAT) · Section. 271(1)(c)
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S. 80HHA/ 80-IA: Interest earned on fixed deposits placed out of business compulsion is "derived" from the undertaking
Empire Pumps Pvt. Ltd. vs. ACIT
(2014) TaxCorp(LJ) 4332 (HC-GUJARAT) · Section. 80HHA, 80-IA
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S. 28/ 37(1): Even if the business is illegal, a loss which is incidental to such business has to be allowed u/s 28 and the Explanation to s. 37(1) has no bearing
Bipinchandra K. Bhatia vs. DCIT
(2014) TaxCorp(LJ) 4328 (HC-GUJARAT) · Sections. 28, 37(1)
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No disallowance u/s 14A, where assessee have sufficient own funds for making investment
CIT. Vs. Torrent Power Ltd.
(2014) TaxCorp(LJ) 4243 (HC-GUJARAT) · Section. 14A
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Refund cannot be denied for failure on the part of Income Tax Department
Shanti Enterprise vs. ACIT
(2014) TaxCorp(LJ) 4238 (HC-GUJARAT)
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In view of retrospective amendment, s. 234D will apply to assessment orders passed after 01.06.2003
CIT. Vs. Gujarat State Financial Services Ltd
(2014) TaxCorp(LJ) 4217 (HC-GUJARAT) · Section. 234D
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