High Courts Archive

Section 68 applicability to share premium or share application money upheld by Calcutta HC

Author: | Categories: High Courts, Income Tax, Judgments No comments
Section 68 applicability to share premium or share application money upheld. Section is widely worded to include capital account receipts-Calcutta High Court   ABCAUS Case Law Citation: ABCAUS 1173 (2017) (03) HC Substantial Question of Law: Whether in the facts and circumstances of the case and in law, the

Exemption us 11 can not be denied if not filled in Schedule-F when the verification clause of ITR-7 was duly filled – Allahabad High Court

Author: | Categories: High Courts, Income Tax, Judgments No comments
Exemption us 11 can not be denied if not filled in Schedule-F when the verification clause of ITR-7 was duly filled – Allahabad High Court   ABCAUS Case Law Citation: ABCAUS 1167 (2017) (03) HC Question for determination: Whether the finding of the Tribunal that Schedule-F to the return

Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

Author: | Categories: High Courts, Income Tax, Judgments No comments
Interest expenditure Disallowance u/s 36(1)(iii) for interest free loan-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law, pronounced in ignorance. ABCAUS Case Law Citation: ABCAUS 1166 (2017) (03) HC The Grievance: The appellant assessee was aggrieved by part of the Tribunal’s

No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

Author: | Categories: High Courts, Income Tax, Judgments No comments
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC In a recent judgment, the Hon’ble Allahabad High Court has held that capital gain exemption u/s 54F not allowable if construction not started within prescribed time. ABCAUS Case Law Citation:

Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

Author: | Categories: High Courts, Income Tax, Judgments No comments
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished. The judgment was delivered by the Hon’ble Allahabad High Court in a batch of similar cases. ABCAUS Case Law Citation: ABCAUS 1160 (2017) (03) HC Question for

Section 43B applicable to both employee and employer contributions. No disallowance u/s 36(1)(va) if paid before ITR due date. Allahabad HC

Author: | Categories: High Courts, Income Tax, Judgments No comments
Section 43B applicable to both employee and employer contributions. No disallowance can be made u/s 36(1)(va) if paid before ITR due date. Allahabad High Court CBDT in view of the decision of the Hon’ble Supreme Court in Alom Extrusions Ltd. has vide circular no. 22 of 2015 dated 17/12/2015 clarified

Commercial expediency-Disallowance for loan-advance u/s 40A(2).Once commercial expediency established beyond doubt no further test to be applied -Allahabad High Court

Author: | Categories: High Courts, Income Tax, Judgments No comments
Commercial expediency-Disallowance for loan-advance u/s 40A(2).Once commercial expediency established  beyond doubt no further test to be applied -Allahabad High Court   ABCAUS Case Law Citation: ABCAUS 1152 (2017) (03) HC Question for determination: In short, the question sought to be answered by the Hon’ble High Court was whether the
error: Content is protected ! Share the page link instead