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CIT vs. Groz Beckert Asia Ltd (P&H High Court – Full Bench)

February 19th, 2013

(140.6 KiB, 387 DLs)

Expenditure on corporate membership of club is revenue expenditure...

Is it 'Revenue' Or 'Capital'- OR NEITHER, OR BOTH ? - so the mindboggling dispute goes on , on, on , and on >>.>>>> with no solution in sight, to anyone, shortsighted or longsighted he be.

<Cr, ref. comments posted !

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Sanofi transaction not taxable in India: Court

<> "In a clear win ..."

Yes, but just for the nonce..! At best,the latest episode in the mega serial; by no means, the LAST!? In the ultimate analysis, it is always the lawyers who keep fighting the war of 'wits' to eternity, and stand to gain. Never the legislators or the government ...

A helpful Quote to ponder (at all times):

Q

The greatest illusion of our people is the infantile belief in the legal solubility of all problems. In the wise words of Lord Halisham, the former Lord Chancellor of the UK, "We might do well to remember that in the whole realm of human relations there is no field more vulnerable to corruption, dishonesty, chicanery, and sheer quackery and charlatanism than contested litigation..   real, imagined or invented”. We might also do well to consider that few of the safeguards we have achieved against these evils...”
UQ   (from  Palkivala’s published article in TOI, 1990)

CHINMAYI ARUN

Freedom of expression gagged

Day of realization of what is 'freedom of..' as enshrined in the nation's basic charter is seemingly nowhere near --except, perhaps, beyond the horizon !

Real Estate Trader also can claim u/s.54F