1. The Commissioner of Income Tax Vs. Shri Darius Pandole [Bombay High Court] - The question raised by the Revenue among other is “Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in not upholding the action of the AO of treating the loss on sale of shares as capital loss ignoring the fact that instead of showing the shares as “stock in trade” in the balance sheet it was shown by the assessee under the head “investments”.

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2. The Commissioner of Income Tax Vs. M/s.Common Effluent  Treatment Plant [Bombay High Court] - The questions raised in the appeal were “Whether on the facts and in the   circumstances of the case, the Tribunal was justified in holding that the  excess of income over expenditure in respect of the effluent treatment  receipts is exempt from incometax on the principle of mutuality; Whether  the Tribunal was justified in holding that interest on bank fixed deposits,  other deposits and incometax refunds is not chargeable to tax on the  principle of mutuality;

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3. M/s Kohli Brothers Colour Lab (P) Ltd. Vs. The Commissioner, Income Tax[Allahabad High Court] - By this review petition, the petitioner has assailed the order passed by this Court in ITA No. 02 of 2007 dated 5.11.2009 whereby the impugned order passed by  the Tribunal dated 4.8.2006 was set aside. The Assessing Officer was directed to take a fresh decision pertaining to bad debt after affording opportunity to the respondentassessee on the record produced.

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"Voice of CA"

CA. Sanjay Kumar Agarwal, Founder - Voice of CA
Member  Central Council - ICAI
Former Chairman - NIRC
Mob : 9811080342, agarwal.s.ca@gmail.com 
   
   
CA. Kapil Goel, Moderator-Direct Taxes
Mob:9910272806, kapilnkgoelandco@gmail.com
 
CA. Sidharth Jain, Co-Moderator
sidhjasso@yahoo.com 
  
CA. Mukesh K Bansal, Co-Moderator-FEMA
Mob:9540022533, mukbansal80@gmail.com