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Income received by the assessee by way of sub-lease of a property, collection of maintenance charges, A.C., hire charges etc., has to assessed as income from house property. ITAT had rightly confirmed the AO's assessment in instant case. Further, in all cases of assessment having become time barred under the regular assessment proceedings under Section 143(2) or (3), as the case may be, proceedings under Section 147, are held to be income escaping assessment.
Rayala Corporation Pvt. Ltd vs Assistant Commissioner of Income-Tax
(2013) TaxCorp(LJ) 2426 (HC-MADRAS)
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Superannuation benefit - Removal of Retiral Benefit - No doubt that such of the employees who are otherwise eligible for superannuation benefit are removed from service in terms of clause 6(b) of the Bipartite Settlement shall be entitled to superannuation benefits. This is the only construction which would harmonise the two provisions. It is well settled rule of construction that in case of apparent conflict between the two provisions, they should be so interpreted that the effect is given to both. Hence, we are of the opinion that such of the employees who are otherwise entitled to superannuation benefits under the Regulation if visited with the penalty of removal from service with superannuation benefits shall be entitled for those benefits and such of the employees though visited with the same penalty but are not eligible for superannuation benefits under the Regulation shall not be entitled to that. Accordingly, we hold that the employee’s heirs are entitled to superannuation benefits. The entire amount that the respondent is found entitled to along with interest at the rate of 6% per annum should be disbursed within 6 weeks from the date of receipt/communication of this Order.
BANK OF BARODA vs S.K. KOOL(D)THROUGH LRS AND ANR
(2013) TaxCorp(LJ) 2425 (SC)
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S. 40A(2)(b) Interest on unsecured loan from relatives @ 18% is reasonable
Vipul Y. Mehta Vs. ACIT
(2013) TaxCorp(LJ) 2424 (ITAT-AHMEDABAD)
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Denial of Registration u/s 12A for mere unsubstantial activities not justified
COMMISSIONER OF INCOME TAX Versus SATVARA EDUCATION FOUNDATION
(2013) TaxCorp(LJ) 2423 (HC-GUJARAT)
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S. 40A(2)(b) Interest on loan @ 12% paid to related party can’t be considered as excessive
DCIT Vs. M/s.Sarjan Realities Ltd.
(2013) TaxCorp(LJ) 2422 (ITAT-AHMEDABAD)
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S. 40A(2)(b) Loan taken from relatives cannot be compared with bank loan
ACIT Vs. M/s. Raj Steel Industries
(2013) TaxCorp(LJ) 2421 (ITAT-AHMEDABAD)
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S. 260A(4) HC can hear appeal on questions other than the questions on which appeal has been admitted CIT Vs. Mastek Ltd. (Supreme Court)
THE C.I.T. -II AHMEDABAD, GUJARAT VERSUS M/S MASTEK LTD.
(2013) TaxCorp(LJ) 2420 (HC-GUJARAT)
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Services in which human intervention is not required are not covered by scope of section 9(1)(vii)
Metro & Metro Vs. Additional Commissioner of Income Tax
(2013) TaxCorp(LJ) 2419 (ITAT-AGRA)
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Disallowance u/s 14A for the period before AY 2008-09, should be restricted to 2% of dividend income
Shakuntaladevi Trade & Investments Pvt. Ltd. Vs. The ITO
(2013) TaxCorp(LJ) 2418 (ITAT-MUMBAI)
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Ratio decidendi of a judgment prevails upo the contrary obiter dicta of another judgment
The Asstt.Commissioner of Income-tax Vs. M/s. Rishti Stock and Shares Pvt.Ltd.
(2013) TaxCorp(LJ) 2417 (ITAT-MUMBAI)
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Leasehold Rights Are Eligible For Depreciation
M/s Tirumala Music Centre (P) Ltd Vs. Asst. Commissioner of Income-tax
(2013) TaxCorp(LJ) 2416 (ITAT-HYDERABAD)
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SB verdict in Merilyn Shipping on S. 40(a)(ia) tds disallowance is not good law
COMMISSIONER OF INCOME TAX, KOLKATA-XI Versus CRESCENT EXPORT SYNDICATE
(2013) TaxCorp(LJ) 2415 (HC-CALCUTTA)
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Liability Paid subsequently cannot be added to the income of the Assessee
Mr. Yusuf R Tanwar Vs. ITO
(2013) TaxCorp(LJ) 2414 (ITAT-MUMBAI)
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Assessment completed without issue of notice u/s. 143(2) was invalid
Shri Mohinder Kumar Chhabra Vs. Income Tax Officer
(2013) TaxCorp(LJ) 2413 (ITAT-DELHI)
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Reopening on the basis of vague / uncertain information on Accommodation Entry not valid
Income Tax Officer Vs. Mrs. Maya Gupta
(2013) TaxCorp(LJ) 2412 (ITAT-DELHI)
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Non-furnishing of balance sheet cannot lead to presumption that there was no cash in hand
Deputy Commissioner of Income Tax Vs. Shri Manish Kumar Aggarwal
(2013) TaxCorp(LJ) 2411 (ITAT-DELHI)
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Unclaimed liabilities Assessable As Income Despite No Write-Back on failure to prove genuineness
Income Tax Department Vs. Shri Shailesh D. Shah
(2013) TaxCorp(LJ) 2410 (ITAT-MUMBAI)
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S. 271D No Penalty for acknowledging the debt in books, if there was no cash receipt by the Assessee
Commissioner Of Income Tax-II Kanpur Versus M/S Sher Cot Leather Craft Ltd. Kanpur
(2013) TaxCorp(LJ) 2409 (HC-ALLAHABAD)
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No Disallowance u/s. 14A For Investment in shares made Out Of Commercial Expediency
CIT versus Oriental Structural Engineers Pvt. Ltd.
(2013) TaxCorp(LJ) 2408 (HC-DELHI)
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In case of Joint account only drawer of cheque liable for prosecution U/s. of N.I. Act : SC
Mrs. Aparna A. Shah Versus M/s Sheth Developers Pvt. Ltd. & Anr.
(2013) TaxCorp(LJ) 2407 (SC)
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