Kinley Water Falls Within Water, Not Aerated Or Mineral Water, Comes Within Tax Free List: Orissa High Court

The Orissa High Court held that the sale of packaged drinking water under the brand name Kinley Water falls within the expression "water but not aerated or mineral water sold in bottles or sealed containers," which is covered under Entry No.39 of the Tax-Free List.The division bench of Chief Justice S. Murlidhar and Justice Murhari Sri Raman has observed that the packaged drinking water sold under the brand name "Kinley Water" is nothing but purified water.The respondent, Hindustan Coca-Cola...

Assesses Failed To File Affidavit Proving Repayment Of Loans: Orissa High Court Sustains Addition On “Unsecured Loan”

The Orissa High Court has sustained the addition of unsecured loans under Section 68 of the Income Tax Act, 1961.The division bench of Chief Justice S. Muralidhar and Justice M.S. Raman has observed that the direction issued by the ITAT in the first round was to the effect that the AO should verify whether the assessee had repaid the amount "by calling all the creditors". Therefore, it is the AO who should have issued a summons to them to appear. Even assuming that the AO did not do so, the fact...

Appearance Of AR Not Enough For Presuming Service On Assessee Under S. 292BB Of ITA: Orissa High Court

The Orissa High Court has deprecated the Income Tax Authority who, despite being informed that the assessee was in judicial custody, failed to serve a notice upon him through the Superintendent of the concerned jail, in the proceedings initiated against the assessee under Section 263 of the Income Tax Act, 1961. The bench of Chief Justice Dr. S. Muralidhar and Justice M.S. Raman remarked that a person in judicial custody is deprived of many constitutional rights, and thus any officer...