1.    GHANSHYAM (HUF) [SC] {Related to section 45(5)}    

The year in which enhanced compensation is received is the year of taxability. Consequently, even in cases where pending appeal, the Court/Tribunal/Authority before which appeal is pending, permits the claimant to withdraw against security or otherwise the enhanced compensation (which is in dispute), the same is liable to be taxed under Section 45(5) of the 1961 Act.

(Click here for analysis)

(Click here for judgment) 

   2. SAINT N.N.VIDYALAYA SAMITI [Rajasthan HC] {12AA}

Commissioner did not decide the application within a period of six months as prescribed by Section 12AA(2), and therefore, the application should be deemed to have been allowed.

(Click here for judgment)  

 

3. M/S. GRASIM INDUSTRIES LIMITED, MUMBAI (BHC) [Related to section      260A]

Once the Apex Court has held that the High Court has no power to condone delay in filing Appeal under Section 35 G of the Excise Act, we have no option but to hold that this Court has no power to condone delay under Section 260 A of the I.T. Act because Section 260 A of the I.T. Act is pari-materia with Section 35 G of the Excise Act.

(Click here for analysis)

(Click here for judgment)

 

(click here) for the Membership Form for becoming the Associate Member of ‘Voice of CA’.      

   

"Enthusiasm is the greatest asset in the world. It beats money and power and influence"

  

Thanks for your valuable time

    

"Voice of CA"

  

     

 CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, Mob: 9810418700, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com

Click here  for Team Voice of CA Chapters detail.