CIT v. E. D. Sheppard

48 ITR 237Supreme Court of India1963#25096 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 336,469 Indian tax judgments — from 2024 to 2025.

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Issues it is cited on

liable to taxsection 10appeal before the tribunalpersoncompanysection 143(3)indiatotal incomebusinessinterest

Judgments citing CIT v. E. D. Sheppard

Shrikant Anantrao Zori, Aurangabad vs. Income Tax Officer Ward 1(1) Aurangabad, Aurangabad

In the result, the appeal of the assessee is partly allowed

ITA 798/PUN/2024[2020-21]Status: DisposedITAT Pune28 Jan 2025AY 2020-21
For Appellant: Shri Nikhil Patakh &For Respondent: Shri Arvind Desai
Section 10Section 143(1)Section 143(2)Section 17(3)(i)Section 89

…holly frivolous one and the CIT was not justified in wasting public funds in filing such appeals. The point in issue here is covered by several decisions of this Court. It would suffice if we refer to the decision of this Court in CIT vs. E.D. Sheppard (1963) 48 ITR 237 (SC); (1964) 1 SCR 163. This Court has been consistently holding that the compensation of the type with which we are concerned in this appeal are capital receipts. The Supreme Court has held such appeals as frivolous & wasting of public funds & has in absolute terms held such compensation are Capital Receipts. Copy of Judgement is at pg. 120-121 o…

Economic Explosives Limited, Nagpur vs. National E Assessment Centre, New Delhi

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 242/NAG/2023[2018-19]Status: DisposedITAT Nagpur09 Sept 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…cessation of business is a capital receipt though payment may be entirely, voluntary and the recipient may have no any repeat payment has no legal right to any compensation at all. The proposition is supported by the following decisions: CIT v E. D. Sheppard (48 ITR 237) (SC); CIT v Vazir Sultan & Sons (36 ITR 175, 185) (SC); P. H. Divecha v CIT (48 ITR 222) (SC); W.A. Guff v CIT (31 ITR 826) (Bom.); Helen Rubber Industries Ltd. v CIT (36 ITR 544) (Ker.), reversed on another point CIT v Helen Rubber Industries Ltd. (44 ITR 714) (SC); CIT v Shaw Wallace (6 ITC 178) (PC); CIT v P. K. Das (34 ITR 729) (Cal.); CIT v…

Economic Explosives Limited, Nagpur vs. Assistant Commissioner of Income Tax, Central Circle 1 (2), Nagpur

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…cessation of business is a capital receipt though payment may be entirely, voluntary and the recipient may have no any repeat payment has no legal right to any compensation at all. The proposition is supported by the following decisions: CIT v E. D. Sheppard (48 ITR 237) (SC); CIT v Vazir Sultan & Sons (36 ITR 175, 185) (SC); P. H. Divecha v CIT (48 ITR 222) (SC); W.A. Guff v CIT (31 ITR 826) (Bom.); Helen Rubber Industries Ltd. v CIT (36 ITR 544) (Ker.), reversed on another point CIT v Helen Rubber Industries Ltd. (44 ITR 714) (SC); CIT v Shaw Wallace (6 ITC 178) (PC); CIT v P. K. Das (34 ITR 729) (Cal.); CIT v…

CIT v. E. D. Sheppard (48 ITR 237) — Cited in 3 Judgments | BharatTax