HC:  No deduction on payment of bonus to an employee trust 

 Payment of bonus to trust not deductible u/s 40A(9): Madras High Court

Apr 28,2011

HC: Slump sale of business also results in ‘sale or transfer of machinery'

Slump sale of undertaking results into ‘transfer or sale’ of machinery; Investment allowance benefit u/s 32A not available: Calcutta High Court

Apr 27,2011

HC: Perversity of findings becomes substantial question of law

Perversity of findings of facts becomes a substantial question of law, HC can set-aside appeal: Calcutta HC

Apr 27,2011

HC:  Sec 195/197 certificate tentative in nature

 Sec 195/197 certificate tentative in nature 

Apr 26,2011

HC: MAT Credit set-off before TDS and advance tax 

 MAT credit to be set off from tax payable before TDS and advance tax –

Apr 25,2011

HC: Capital loss can be set-off against gain from depreciable assets

Set off of 'long term capital loss' against capital gains on ‘long term’ depreciable assets allowable

Apr 23,2011

HC: Sec 234B interest not payable by employee on salary

Sec 234B interest not payable by employee in case of employer default of TDS on salary:  Uttarakhand HC Full Bench

Apr 20,2011

HC:   DTA converted into STP eligible for sec 10A deduction  

 Sec 10A deduction available to DTA unit converted into STP unit –

Apr 20,2011

HC:  Karnataka HC follows Vodafone decision in Sesa Goa  

Karnataka HC follows Vodafone decision in Sesa Goa, says IT dept can lift corporate veil to look into real nature of transaction.  

Apr 20,2011

HC: Loss on exchange traded derivative speculative

Pre-2005 ‘exchange traded derivative’ transactions ‘speculative’ in nature: Bombay High court  

Apr 19,2011