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HC - Considering the fact that in respect of the earlier assessement years, in respect of the identical transaction conditional order of stay has been granted, assessee was to be granted stay on demand during relevant assessment years on identical issue
Vodafone Cellular Ltd. v. Commissioner of Income-tax (Appeals) -II, Coimbatore
(2015) TaxCorp(LJ) 5311 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58687&Category=Judgment&CategoryType=Zip
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HC - In case of doubt or ambiguity question of rectification u/s 154 does not arise.
CIT. vs. Palanquin Investments P Ltd.
(2015) TaxCorp(LJ) 5285 (HC-MADRAS) · Section. 154, 94(8)
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HC - Section 80IB(10) benefit admissible as “built-up area” includes car park for AY 2004-05.
CIT. vs. Subba Reddy
(2015) TaxCorp(LJ) 5283 (HC-MADRAS)
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HC - Assessee was under the bona fide impression that the money received was only towards allotment of shares and it is not a loan or deposit. Rigors of Section 269SS cannot be applied, penalty could not be levied under Section 271D
The Commissioner of Income Tax Chennai Versus M/s. Object Frontier Software Pvt. Ltd.
(2015) TaxCorp(LJ) 5166 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=59290&Category=Judgment&CategoryType=Zip
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HC - 'Business exigency' is reasonable cause u/s 273B for purported violation of Sec 269SS/269T for dealing in cash loans. No penalty on short term cash borrowings from friends in emergency
CIT vs. T.Perumal
(2015) TaxCorp(LJ) 5114 (HC-MADRAS)
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HC - No business loss set-off against betting income. Total winnings from betting of the assessee should be brought to tax at the rate of 40% as contemplated under Section 115BB pre-2001
CIT vs. Dr. MA.M.Ramaswamy
(2015) TaxCorp(LJ) 5102 (HC-MADRAS) · Section 115BB
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HC - Once the cheque issued by the assessee is encashed, in the light of the decisions referred supra, the payment relates back to the date of receipt of the cheque
Commissioner of Income Tax Chennai. Vs. REPCO Home Finance Ltd.
(2015) TaxCorp(LJ) 5090 (HC-MADRAS) · Section. 234
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HC - Interest under section 234C was to be calculated based on date of presentation of cheque for payment of tax and not on date of clearing of cheque
Commissioner of Income-tax, Chennai v. REPCO Home Finance Ltd.
(2015) TaxCorp(LJ) 5072 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58554&Category=Judgment&CategoryType=Zip
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HC - Bar under Sec.205 of the Income Tax Act prevents the department from demanding the TDS from the assessee who has suffered a deduction. TDS credit must be given to deductee even if deductor fails to pay to government
Executors of the Estate of S. Shanmuga Mudaliar Vs The Assistant Commissioner of Income Tax
(2015) TaxCorp(LJ) 5055 (HC-MADRAS)
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HC - Total winnings from betting of the assessee should be brought to tax at the rate of 40% (Now 30%) as contemplated under Section 115BB. No set off.
Commissioner of Income-tax, Chennai Versus Dr. MAM. Ramaswamy
(2015) TaxCorp(LJ) 5050 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=59117&Category=Judgment&CategoryType=Zip
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HC - As the assessee had not engaged in any business activity, income received from letting out of the property was rightly assessed by the Assessing Officer as 'income from property'
Keyaram Hotels (P.) Ltd. v. Deputy Commissioner of Income-tax,Company Circle II (4), Chennai
(2015) TaxCorp(LJ) 5014 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58612&Category=Judgment&CategoryType=Zip
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HC - When there is a clear and categorical admission of the undisclosed income by the assessee himself, there is no necessity to scrutinize the documents. In fact, when there is a clear admission, voluntarily made, by the assessee, that would constitute a good piece of evidence for the revenue.
B. Kishore Kumar v. Deputy Commissioner of Income-tax, Central Circle-IV (1), Chennai
(2015) TaxCorp(LJ) 4947 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58536&Category=Judgment&CategoryType=Zip
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HC - Allottee gets the title to the property on issuance of allotment letter and the payment in instalments is only a consequential act upon which delivery of possession to the property flows. Thus, development.agreement date is relevant for capital gains
CIT vs S.RJeyashankar
(2014) TaxCorp(LJ) 4790 (HC-MADRAS)
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Fee from leasing of hotel wasn't income from house property if lessee was doing hotel business in name of assessee
Tamil Nadu Tourism Development Corpn. Ltd. v. Deputy Commissioner of Income-tax, Co. Circle-II (1), Chennai
(2014) TaxCorp(LJ) 4779 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58084&Category=Judgment&CategoryType=Zip
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HC - When the assessee has hired trucks on payment of hire charges for utilizing the same in its business, such payment of hire charges would not fall within the provisions of Section 194C of the Act.
CIT vs. U.Bhaskaran
(2014) TaxCorp(LJ) 4751 (HC-MADRAS)
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HC - Investment u/s 54EC falling under two financial years and crossing limit of Rs 50 lakhs
COMMISSIONER OF INCOME TAX, CHENNAI Vs. C JAICHANDER
(2014) TaxCorp(LJ) 4657 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=4224&Category=Landmark&CategoryType=Zip
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HC -“Royalty” toward Technical Collaboration Agreement when can be treated as revenue expenditure?
CIT Vs HITECH ARAI LTD
(2014) TaxCorp(LJ) 4654 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=57900&Category=Judgment&CategoryType=Zip
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HC - Once the cheque issued by assessee is encashed, payment relates back to date of receipt of cheque
Commissioner of Income Tax Versus Repco Home Finance Ltd.
(2014) TaxCorp(LJ) 4642 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=58554&Category=Judgment&CategoryType=Zip
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HC –How to determine nature of expenditure on modernization and replacement of machinery?
CIT Vs PRABHU SPINNING MILLS PVT LTD
(2014) TaxCorp(LJ) 4640 (HC-MADRAS) · http://taxcorp.in/FileOpenDT.aspx?ID=3993&Category=Landmark&CategoryType=Zip
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HC - Order, instruction, direction issued u/s 119 can't interfere with the right of the Income Tax Authority to exercise power of transfer under Section 127
C. Krishnan vs. ITO and Anr.
(2014) TaxCorp(LJ) 4629 (HC-MADRAS) · Section. 119
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