Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Sale and a lease back transaction - the lease transactions were ...


Court Confirms Sale and Leaseback Transactions Are Genuine; No Evidence of Sham by Department Found.

September 4, 2012

Case Laws     Income Tax     HC

Sale and a lease back transaction - the lease transactions were genuine and that the Department failed to adduce any evidence to prove that the transaction was not genuine or was a sham no disallowance can be warranted - HC

View Source

 


 

You may also like:

  1. Addition u/s 68 as accommodation entries - long term capital gain on sale of shares as sham/bogus transaction - Mere suspicion cannot be a ground for treating the...

  2. This notification amends the Companies (Indian Accounting Standards) Rules, 2015 by inserting provisions related to accounting for sale and leaseback transactions under...

  3. Sale of mortgaged (scheduled) properties which was to be conducted by the Authorized Officer (Respondent No.2) of the Respondent-Bank - default in repayment of loan by...

  4. Department failed to establish that Sale and lease back transaction was really a sham and dubious transaction and was a colourable device, depreciation allowed

  5. This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

  6. Addition of bogus sales - difference in opinion between learned Members constituting the bench - The appellate tribunal (Third Member) addressed the dispute arising from...

  7. Income from undisclosed sources - Transaction of sale and purchase of shares - off market transaction - genuine or not - Although, it was an off market transaction but...

  8. The High Court held that the reopening of assessment u/s 147 did not violate the provisions of Section 148A. The respondents provided the petitioners an opportunity of...

  9. The assessee failed to discharge its initial onus to prove creditworthiness and genuineness of the transaction reflecting a sum as outstanding in its final books of...

  10. The High Court held that the Assessing Officer cannot disallow losses merely based on assumptions and surmises regarding the commercial expediency of transactions...

  11. Dishonour of Cheque - conviction of accused - The High Court upheld the conviction under Section 138 of the Negotiable Instruments Act based on the evidence presented,...

  12. The court addressed the challenge to the order of attachment and the priority of charge between the Multi-State Co-operative Bank and the Sales Tax Department for...

  13. The High Court rejected the appeal filed by the applicant due to lack of reasons for enhancing turnover, non-consideration of material evidence, and failure to obtain...

  14. Seeking grant of regular bail - Money Laundering - Allegation of indulging in paper/bogus sales and purchase of goods, even though there was no actual movement of goods...

  15. Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

 

Quick Updates:Latest Updates