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Justice S.M.Subramaniam held that there is a failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. It is categorically stated that the initiation of assessment years is to be taken as AY 1996-97 and the assessee is eligible only for 30% payment of the deduction claim and the remaining 70% is to be taxed. Thus, the deduction under Section 80-IA should be restricted to Rs.26,18,90,989/- and an excess claim of Rs.61,10,78,973/- is to be disallowed. Thus, there is a definite ‘reason to believe that the deduction of Rs.61,10,78,973/- is an excess deduction to the tune of income chargeable to tax as an escaped assessment.
by Sekar Reporter · Published May 23, 2021
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Live law Justice Anand Venkatesh vacated an earlier interim order granted by a division bench of Justice SM Subramaniam and Justice C Kumarappan restraining the release of the movie till the petition filed by Eros against the producers of the movie was disposed of. The film is set to release tomorrow (December 12).
by Sekar Reporter · Published December 12, 2025