Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (7) TMI 1087 - BOMBAY HIGH COURT

2015 (7) TMI 1087 - BOMBAY HIGH COURT - [2016] 381 ITR 441 - Tax effect - monetary limit - ITAT direction to deduct the amount of prior year adjustment out of current year's net profit for arriving at the book profit for the purpose of computation of income under section 115J - Held that:- In view of the Instruction No. 5 dated 10 July 2014 read with decision of this court in CIT v. Madhukar K. Inamdar (HUF) [2009 (7) TMI 145 - BOMBAY HIGH COURT]; CIT v. Pithwa Engg. Works [2005 (7) TMI 66 - BOM .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

court in CIT v. Surya Herbal Ltd. [2011 (8) TMI 137 - Supreme Court of India ]. In view of the above, we return the reference unanswered. - Income Tax Reference No. 430 of 1997 - Dated:- 24-7-2015 - M. S. Sanklecha And N. M. Jamdar, JJ. For the Petitioner : Nirmal Chandra Mohanty For the Respondent : Pavan Ved, G. S. Rao JUDGMENT 1. This reference under section 256(1) of the Income-tax Act, 1961 in respect of the assessment year 1988-89 seeks our opinion on the following question of law : " .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f of respondent submitted that the tax effect in the present reference is less than ₹ 4 lakhs. Consequently, the reference should be returned unanswered. 3. In the above circumstances we directed the Revenue to examine the issue of the tax effect involved in the present reference application and file an affidavit indicating the tax effect. Accordingly, Mr. Kumar Rajiv Prasad Income-tax Officer at Mumbai, has filed an affidavit dated July 20, 2015, inter alia pointing out that the tax effec .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version