High Courts Archive

Non-renewal of THC cannot deprive supporting manufacturer of deduction u/s 80HHC(1A)

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Non-renewal of THC cannot deprive supporting manufacturer of deduction u/s 80HHC(1A). Lgislative intent is to extend benefit either to exporter or to supporting manufacturer and not to both – High Court ABCAUS Case Law Citation: ABCAUS 2033 (2017) (08) HC Assessment Year :  1996-97 Important Case Laws Cited/relied upon

 

Important judgment on EPS payment by exempted establishment by Kerala High Court

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Important judgment on EPS payment by exempted establishment under Section 17(1)(C) by Kerala High Court in the case of cooperative bank Hon’ble High Court of Kerala has dismissed the Petition flied by an exempted establishment challenging the assessment order passed by Kannur. P.F. office. The petition was filed by

 

Peak credit theory not applicable if deposits are unexplained u/s 68. ITAT decision overruled where CA was entry provider

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Peak credit theory not applicable if deposits are unexplained u/s 68. High Court overruled ITAT decision where CA was providing accomodation entries and could not explain the deposits in his bank account. The Court held that where assessee is unable to explain the sources of deposits and the corresponding payments

 

Expression ‘derived’ is narrower then ‘attributable to’ in section 80IA or like sections – High Court

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Expression ‘’derived’’ is narrower then ‘’attributable to’’ in section 80IA or like sections. Income derived from secondary source not the effective source, falls outside deductions – High Court   ABCAUS Case Law Citation: ABCAUS 2025 (2017) (08) HC Assessment Year :  2009-10 Important Case Laws Cited/relied upon by the

 

Loss on sale of foreign cars was business loss not capital loss u/s 50 – High Court

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Loss on sale of foreign cars held as business loss not capital loss u/s 50 as the imported cars did not form part of block of assets and depreciation was not allowable – High Court   ABCAUS Case Law Citation: ABCAUS 2026 (2017) (08) HC Assessment Year :  1999-00

 

Supplying back ground sound audio to film is manufacture u/s 80-IB of Income Tax Act – High Court

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Supplying back ground sound audio to film is manufacture u/s 80-IB of the Income Tax Act. Providing audio Software to Video already shot amounts to manufacture– High Court ABCAUS Case Law Citation: ABCAUS 2024 (2017) (08) HC The Issue: Whether the activity of the assessee in editing of supplying

 

Tax Recovery Officer has no power to declare alienation of property as null and void – High Court

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Tax Recovery Officer has no power to declare alienation of property as null and void when sale is made under sale deed by alleged tax defaulter – High Court   ABCAUS Case Law Citation: ABCAUS 2023 (2017) (08) HC Brief Facts of the Case: The present writ petition had