Search Results for "MDS"

64 result(s) found

Scroll Down To Discover

Found 64 result(s)

© Image Copyrights Juris Services & Technology

Madras High Court Allows Appeal in Income Tax Reassessment Case — Misappropriation by Partner's Relative Not Covered Under Section 40A(2) of Income Tax Act, 1961. Reassessment based on same material held invalid as change of opinion.

The assessee, M/s.Karpaga Vinayagar Papers, a partnership firm, filed its income tax return for Assessment Year 2001-2002 admitting a total income of ...

© Image Copyrights Juris Services & Technology

Madras High Court Dismisses Revenue's Appeal in Deemed Dividend Case — Advances from Sister Concern for Software Development Held Not Deemed Dividend Under Section 2(22)(e) of Income-Tax Act, 1961. Business Transactions in Ordinary Course Excluded from Deemed Dividend Provisions.

The Revenue filed an appeal under Section 260A of the Income-Tax Act, 1961 against the order of the Income-Tax Appellate Tribunal, Chennai 'C' Bench d...

© Image Copyrights Juris Services & Technology

High Court of Madras Considers Interplay of Section 40A(7) and Section 43B for Deduction of Gratuity Provision. The Court Examined Whether Specific Provision Overrides Requirement of Actual Payment, but Final Verdict Not Available in Provided Excerpt.

The case concerned an appeal by the assessee, a manufacturer of specialty chemicals, against the disallowance of a provision for gratuity of Rs.31,24,...

© Image Copyrights Juris Services & Technology

Madras High Court Allows Revenue's Appeals in Income Tax Block Assessment Case - Upholds Addition of Unexplained Cash Credits Under Section 68 of Income Tax Act, 1961. The court held that the assessee failed to prove the genuineness of cash credits, reversing the Tribunal's order.

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, 'B' Bench, Chennai, w...

© Image Copyrights Juris Services & Technology

Supreme Court Allows Appeal in Income Tax Deduction Case for Pharmaceutical Freebies. Expenses on Gifting Freebies to Medical Practitioners Are Deductible Under Section 37(1) of Income Tax Act, 1961, as Indian Medical Council Regulations Only Prohibit Acceptance, Not Gifting, Under Explanation 1.

The dispute involved a pharmaceutical company, referred to as Apex, appealing against a High Court judgment that upheld orders disallowing part of its...

© Image Copyrights Juris Services & Technology

Bombay High Court Allows Writ Petition Challenging Transfer Order of Agricultural Officer on Grounds of Malafides and Violation of Transfer Policy. Transfer Order Quashed as It Was Not in Public Interest and Was Motivated to Accommodate Another Officer.

The petitioner, Sandeep Dashrath Shirsath, was working as an Agricultural Officer at Panchayat Samiti Paithan, Aurangabad. He was transferred by an or...

© Image Copyrights Juris Services & Technology

Supreme Court Allows Assessee's Appeal, Holding Royalty Payment for Mining Lease is Revenue Expenditure. Yearly royalty of Rs. 96,000 under mining arrangement with Government deductible under Income-tax Act as it relates to raw material obtained, not capital outlay.

This appeal arose from income tax assessment proceedings for the years 1954-55 to 1956-57. The appellant, a registered firm manufacturing lime from li...