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HC - On failure of the accused to rebut belief that cheque was issued for legally enforceable debt, conviction for cheque bouncing sustained.
India Steel & Alloys v. Venkatesa Industrial Suppliers
(2015) TaxCorp(LJ) 9338 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=62220&Category=Judgment&CategoryType=Zip
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HC - Expenditure towards fixing false ceiling, painting, electrical cabling and certain civil works in rented premises is business expenditure.
Commissioner of Income-tax, Chennai v. Anush Shares & Securities (P.) Ltd.
(2015) TaxCorp(LJ) 9323 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=62208&Category=Judgment&CategoryType=Zip
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HC - In case of NBFC, additional finance charges on EMI default is taxable on receipt basis.
Commissioner of Income-tax, Chennai v. Shriram Investments Ltd.
(2015) TaxCorp(LJ) 9318 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=62207&Category=Judgment&CategoryType=Zip
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HC - Where Assessing Officer had completely overlooked stay applications, he had to consider same.
Amala Bose v. Income-tax Officer, Non-Corporate Ward 2(5), Coimbatore
(2015) TaxCorp(LJ) 9300 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=62199&Category=Judgment&CategoryType=Zip
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HC - As material facts were not disclosed in original return filed by assessee, reassessment proceedings for AY 2008-09 justified.
PVP Ventures Ltd. vs. ACIT
(2015) TaxCorp(LJ) 9169 (HC-MADRAS)
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HC - Absent no pre-existing opinion on the issue subject to reassessment, re-assessment justified where assessee failed to disclose material facts.
Sword Global India Private Limited vs. ACIT
(2015) TaxCorp(LJ) 9117 (HC-MADRAS)
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HC - Assessee having participated in reassessment proceedings, writ challenging validity can't be filed.
Mobis India Ltd. v. Deputy Commissioner of Income-tax, Large Tax Payer Unit-II, Chennai
(2015) TaxCorp(LJ) 9086 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=62031&Category=Judgment&CategoryType=Zip
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HC - DCIT justified in exercising his discretion by treating assessee as not in default only to the extent of Rs 5 crores for which stay was allowed. Writ dismissed.
Jyothy Laboratories Ltd. vs. DCIT
(2015) TaxCorp(LJ) 8985 (HC-MADRAS) · Section. 220(6)
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HC - Where one of the ventures of assessee had ended in a loss, such loss would not be treated as capital expenditure.
Commissioner of Income-tax v. Saka Marketing Services (P.) Ltd.
(2015) TaxCorp(LJ) 8756 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=60589&Category=Judgment&CategoryType=Zip
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HC - All authorities, civil, criminal and judicial, coming within the territory of the High Court, shall act in the aid of the High Court. AO not authorized to take contrary views taken by other High Courts if same issue is decided by jurisdictional High Court.
Devi Karumariamman Educational Trust v. Deputy Commissioner of Income-tax (Exemptions)-I Chennai
(2015) TaxCorp(LJ) 8700 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=61447&Category=Judgment&CategoryType=Zip
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HC - Reduction of excess provision (credited to P&L account) allowable consequent to change in depreciation method while computing book profits u/s 115JA.
Dharmapuri Paper Mills Pvt Ltd. vs. JCIT
(2015) TaxCorp(LJ) 8661 (HC-MADRAS) · Section 115JA
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HC - Not correct to hold that since the new unit set up could not run on a stand-alone basis without the support from the existing unit, deduction u/s 80IA be denied as assessee did not set-up a “new” unit.
The Ramco Cements Limited vs. JCIT
(2015) TaxCorp(LJ) 8611 (HC-MADRAS) · Section. 80IA
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HC - Assessee is entitled to claim deduction u/s 80 IA even though it have been set off losses against the profits from other sources
CIT. VS. GR Thangamaligai Firm
(2015) TaxCorp(LJ) 6844 (HC-MADRAS) · Section. 80 IA
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HC - No transfer of property takes place u/s 2(47)(vi) on mere execution of power of attorney without any consideration.
Commissioner of Income-tax, Chennai v. C. Sugumaran
(2015) TaxCorp(LJ) 6773 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58534&Category=Judgment&CategoryType=Zip
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HC - Expenditure in cash in excess of Rs. 20,000 on costumes, makeup, wig material, travelling expenses etc., at different places of shooting was to be allowed as there was reasonableness in claim of assessee (actor)
Commissioner of Income-tax, Central Circle II, Chennai v. R.S. Suriya
(2015) TaxCorp(LJ) 6646 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58513&Category=Judgment&CategoryType=Zip
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HC - Transfer of case of Trust u/s 127(2)(a) to that State wherein its chairman was running educational institutions was correct
Commissioner of Income-tax-I, Madurai v. Noorul Islam Educational Trust
(2015) TaxCorp(LJ) 6579 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=60697&Category=Judgment&CategoryType=Zip
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HC - Commission paid to NR agent for procuring export orders outside India does not fall within the ambit of ‘FTS’ as no limb of activity had taken place in India.
Commissioner of Income-tax, Business Circle IV, Chennai v. Orient Express
(2015) TaxCorp(LJ) 6389 (HC-MADRAS) · http://taxcorp.in/FileOpenINTL.aspx?ID=7967&Category=INTLDecisions&CategoryType=Zip
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HC - Power of stay governed by clause (c) of section 220 is a discretionary one.
Jyothy Laboratories Ltd. v. Deputy Commissioner of Income-tax, Large Tax Payer Unit-II, Chennai
(2015) TaxCorp(LJ) 6278 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=60580&Category=Judgment&CategoryType=Zip
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HC - No condonation of delay of over 1100 days in filing appeal considering assessee’s laziness, lackadaisical in approach and in a non-chalant manner.
Mrs. P.S. Rajeswari v. Assistant Commissioner of Income-tax, Central Circle- IV(2), Chennai
(2015) TaxCorp(LJ) 6274 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=59240&Category=Judgment&CategoryType=Zip
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HC - Since non-competition agreement with the assessee(co-founder) is only to ward off any competition, therefore non-compete fee paid to assessee (co-founder) is not salary but a capital receipt.
G. Raveendran vs. CIT
(2015) TaxCorp(LJ) 6189 (HC-MADRAS)
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