16. In Commissioner of Income Tax v. Saraswathi Publicities

132 ITR 207High Court1981#22392 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2008 to 2022.

Judgments citing 16. In Commissioner of Income Tax v. Saraswathi Publicities

Larsen & Toubro Ltd, Mumbai vs. DCIT 2(2), Mumbai

In the result, appeals filed by the assessee are partly allowed and the appeals filed by the Revenue are dismissed

ITA 6908/MUM/2012[2001-02]Status: DisposedITAT Mumbai29 Apr 2022AY 2001-02

Bench: Shri S.Rifaur Rahman () & Shri Amarjit Singh ()

…be 6 Larsen & Toubro Asstt.Yrs 2001-02 & 2001-02 treated as revenue receipt or even as a casual receipt and hence, cannot be subjected to tax. " iv) We also place reliance on the judgnent of the Madras High Court in the case of CIT v. Saraswathi Publicities (132 ITR 207) wherein it was held that \ compensation for agreeing to refrain from carrying on competitive business constituted capital receipt not liable to income-tax, We also wish to invite your goodself's kind reference to the amendment made in section 28 of the I. T. Act, whereby subjection clause (va) has been inserted which provides for taxing the rece…

Commissioner of Income Tax Del vs. Tara Sinha

The appeal is dismissed but with no order as to costs

ITA/154/2005HC Delhi11 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 28

…asava Chand v. CIT 306 ITR 242 (Del) (hereafter, ‘Rohitasava Chand’), 6. CIT v. A.S. Wardekar 283 ITR 432 (Cal) (hereafter, ‘A.S. Wardekar), 7. CIT v. Saroj Kumar Poddar 279 ITR 573 (Cal) (hereafter, ‘Saroj Kumar Poddar’), 8. CIT v. Saraswati Publicity (1981) 132 ITR 207 (Mad) (hereafter, ‘Saraswati Publicity’), 9. Lachhman Das v. CIT 124 ITR 706 (Del) (hereafter, ‘Lachhman Das’) and, 10. Beak v. Robson (1943) 11 ITR Suppl. 23 16. Mr. Navet further submitted that the share transactions could not in any manner be held to be tainted at the instance of the Assessee, inasmuch as, the decision as to who should be the…

Rohitasava Chand vs. Commissioner of Income Tax

The appeal is disposed of

ITA/611/2007HC Delhi20 Mar 2008

Bench: HON'BLE MR. JUSTICE MADAN B. LOKUR,HON'BLE MR. JUSTICE V.B. GUPTA

…sessee‟s agency termination. We, therefore, hold that that part of the compensation attributable to the restrictive covenant was a capital receipt and hence not assessable to tax.” 16. In Commissioner of Income Tax v. Saraswathi Publicities, [1981] 132 ITR 207 the question was the nature of compensation received under an agreement to refrain from carrying on competitive business. One of the findings in Saraswathi was that no business was taken over or acquired of the assessee. On this basis, the Madras High Court considered the law applicable to restrictive covenants and receipts in connection t…