HC: Delhi HC rejects stay of tax demand on alleged 'bribe' money parked overseas

Protection under Sec 220(7) not available on ‘alleged bribe’ received from a Russian company and parked in UK bank account; Stay of tax demand rejected: Delhi High Court 

May 10,2011

HC: Untenable legal claim can’t be ground for levy of penalty  

Untenable legal claim cannot be a ground for imposing concealment penalty :   

May 06,2011

HC: Hospital an ‘industrial undertaking’, concludes HC 

Hospital engaged in commercial activities an ‘industrial undertaking’: Madras High Court 

May 04,2011

HC:  State Govt grants not taxable income of trust 

Grants and interest on FDs made out on unspent grant not taxable u/s 11- Punjab and Haryana High Court

May 02,2011

HC: HC quashes Sec 148 for re-assessment notices 

Bombay HC quashes notices u/s 148 for reopening of assessment beyond 4 years

Apr 30,2011

HC: Sec 14A to hit interest expense on dividend income

Disallowance u/s 14A towards exempt dividend upheld in case of indivisible business –    

Apr 29,2011

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