| Sunday, April 12, 2009 |
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1. BHC in the case of Advani Orelikon Ltd: Interesting/Revealing Observations on Condonation of Delay. (Click here for Full Judgment)
2. Kar. HC in the case of Bedi and Bedi Pvt. Ltd. : in context of taxability of consideration arising from property sale agreement whereby possession was transferred vis a vis deemed capital transfer u/s 2(47) of the Act, while holding that transfer technically takes place at the time of delivery of possession under subject provision, but as in present case there is no financial implication on revenue in shifting the year of taxability from one which is adopted by assessee (year when sale deed was registered) to one as per section 2(47), it is no more desirable to harp on technicalities. Similar sort of rationale in context of year of allowability of expense may be found in DHC ruling in Vishnu Industrial Gases ITR 229/1988 Order date: 6 May 2008. (Click here for Full Judgment)
"Voice of CA"
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