CIT v. Narang Dairy Products

219 ITR 478Supreme Court of India1996#11292 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2019.

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Judgments citing CIT v. Narang Dairy Products

Income Tax Officer (It)-4(1)(1), Mumbai vs. Mr. Prabhakar Raghavendra Rao, Mumbai

In the result, appeal of the revenue is dismissed

ITA 3985/MUM/2018[2014-15]Status: DisposedITAT Mumbai06 Nov 2019AY 2014-15

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm Income Tax Officer (Intl. Vs. Mr. Prabhakar Raghavendra Tax) – 4(1)(1), Rao 1729, Air India Building Flat No.602, Palm Paradise Nariman Point Palm Beach Road Mumbai – 400 021 Sector-17, Sanpada, Navi Mumbai – 400 705 Pan/Gir No. Aafpr3259K (Appellant) .. (Respondent)

Section 119(2)(b)Section 143Section 143(3)Section 43B

…ngalore Electric Supply Co. Ltd. v. CIT [1978] 113 ITR 655 wherein the transfer has been discussed and not the taxability in term of DTAA. The another precedent cited by Ld. DIT (IT) of Hon'ble Supreme Court in the case of CIT v. Narayan Dairy Products [1996] 219 ITR 478/85 Taxman 375 (SC) (SC) wherein the similar word transfer was interpreted. Further, he also referred to the decision of Hon'ble Kerala High Court in the case of Blue Bay Fisheries (P.) Ltd. v. CIT [1987] 166 ITR 1/31 Taxman 393 (Ker), wherein the same issue of transfer is discussed. According to DIT(IT), transfer of shares of Moran Tea Co. (I) Lt…

M/S. R.C. Narula & Sons HUF, New Delhi vs. ACIT, New Delhi

In the result, the appeal for A

ITA 1028/DEL/2014[2009-10]Status: DisposedITAT Delhi11 Feb 2019AY 2009-10

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 48

…r, to displace from one surface to another, removal, displace. Definition of 'transfer' in section 2(47) is an inclusive one and does not exclude the contextual or the ordinary meaning of the word 'transfer' - CIT v. Narang Dairy Products [1996] 85 Taxman 375/219 ITR 478 (SC). Perusal of the above judicial pronouncements confirms that by entering an agreement to sell on 08.03.2008, the right in the property stands transferred in the hands of buyer and the date of actually receiving the entire consideration is not material. I am further fortified in my view by the decision of Hon'ble Supreme Court in the case of…

Maharashtra Industrial Development Corporation, Mumbai vs. Deputy Commissioner Income Tax (Exemptions)-2(1), Mumbai

The appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 4474/MUM/2017[2011-12]Status: DisposedITAT Mumbai07 Sept 2018AY 2011-12

Bench: Shri G.S.Pannu, Am & Shri Ravish Sood, Jm Maharashtra Industrial Deputy Commissioner Of Income Development Corporation Tax (Exemption)-2(1), बिधम/ Udyog Sarathi, Mahakali Piramal Chambers, Lalbaug, Vs. Caves Road, Andheri (East), Mumbai-400 012 Mumbai-400 093 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aaacm3560C (अऩीराथी /Appellant) (प्रत्मथी / Respondent) :

For Appellant: Shri V. Sridharan &For Respondent: Shri Purushottam Tripuri, CIT D.R
Section 143(3)Section 2Section 60Section 61Section 62

…ovisions of the MIDC Act, thus could not be construed as a transfer of the ownership of the same. The Ld. A.R in order to support his aforesaid contention relied on the judgments of the Hon‟ble Supreme Court in the case of CIT Vs. Narang Dairy Products (1996) 219 ITR 478 (SC) and State of Orissa Vs. Gouranga Prasad Gountia 1974 (40) Cuttack Law Times 237. The Ld. A.R further adverting to the compensation which was paid by the assessee, submitted that as per Sec. 33(1), 33(2), 36(1), 36(2) and 36(3) of the MIDC Act the State Government remained under an obligation to pay compensation on the acquisition of land. It…

M/S Jupitors Radios Regd vs. DCIT Special Range X

The appeals are dismissed, with no

ITA/391/2005HC Delhi14 Nov 2017

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 155Section 2Section 260ASection 32ASection 32A(5)Section 35A

…on of the said machinery, it was transferred to Raja Singh, who upon retirement, ceased to have any connection with the partnership firm. He has referred to decisions of the Supreme Court in Commissioner of Income Tax versus Narang Dairy Products, (1996) 219 ITR 478 (SC) and South India Steel Rolling Mills versus Commissioner of Income Tax, (1997) 224 ITR 654 (SC). 7. We have considered the contentions raised by both the sides and find that in the present case the Tribunal was right in denying benefit of investment allowance/development rebate to the assessee, though not exactly for the reasons stat…

M/S Trans Global Plc( Early Known As Moran Holdings Plc), Kolkata vs. D, I, T (It) 3(1), Kolkata

In the result, appeal of assessee is allowed

ITA 943/KOL/2013[2008-09]Status: DisposedITAT Kolkata15 Mar 2016AY 2008-09

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Sri R. N. Bajoria, Advocate & Sri A. K. Gupta, FCAFor Respondent: N o n e
Section 143(3)Section 263Section 28Section 55(2)(a)

…8) 113 ITR 655 (SC) wherein the transfer has been discussed and not the taxability in term of DTAA. The another precedent cited by Ld. DIT (IT) 5 M/s. Trans Global PLC AY 2008-09 of Hon’ble Supreme Court in the case of CIT Vs. Narayan Dairy Products (1996) 219 ITR 478 (SC) wherein the similar word transfer was interpreted. Further, he also referred to the decision of Hon’ble Kerala High Court in the case of Blue Bay Fisheries Pvt. Ltd. Vs. CIT 166 ITR 1 (Ker), wherein the same issue of transfer is discussed. According to DIT(IT), transfer of shares of Moran Tea Co. (I) Ltd., transferring the controlling intere…

M/S Digital Radio (Delhi) Broadcasting Ltd., New Delhi vs. ACIT, New Delhi

In the result appeal of the assessee in ITA No 1316 &1317/Del/2011 and ITA

ITA 1316/DEL/2011[2006-07]Status: DisposedITAT Delhi24 Nov 2015AY 2006-07

Bench: Sh. I.C.Sudhir, Jm Andsh. Prashant Maharishi, Am A.Y. 2006-07 Digital Radio (Delhi) Broadcasting Ltd. V Acit C/O. O.P. Sapra & Associates, S Circle-10(1) C-763, New Friends Colony New Delhi New Delhi (Appellant) (Respondent) Pan No. Aabcr7864B A.Y. 2006-07 Acit V Digital Radio (Delhi) Circle-10(1) S Broadcasting Ltd. New Delhi 401, Dakha House, 18/17, Wea Karol Bagh New Delhi (Appellant) (Respondent) Pan No. Aabcr7864B A.Y. 2006-07 Digital Radio (Kolkata) V Acit Broadcasting Ltd. S Circle-10(1) C/O. O.P. Sapra & New Delhi Associates, C-763, New Friends Colony New Delhi (Appellant) (Respondent) Pan No. Aabcr7863G

For Appellant: Sh. Sanjiv Sapra, CA, Sh. O.P. SapraFor Respondent: Sh. A.K.Saroha, CIT., DR
Section 35A

…rights there in and set of policies of government are allowing it to migrate to different methodology of payment of fees to government. 23. Before us also Assessee has relied up on several judgments of various courts as under :- a. CIT V Narang dairy products 219 ITR 478 (SC) b. Smt Anand bala Bhushan V CIT ( All) 214 ITR 144 c. CIT V AR Damodar Murlidhar & co 119 ITR 583 (Mad) d. Mangalore electric supply Co ltd V CIT 113 ITR 655 (SC) e. Kartikey Sarabhai V CIT 228 ITR 163 (SC) We have perused all those decision and we are of the view that none of them applies to the facts of the case of the assessee. In all the…

CIT vs. M/S Teletube Electronics Ltd

The appeal of the Assessee is allowed

ITA - 132 / 2002HC Delhi24 Sept 2015
Section 2Section 2(47)Section 260ASection 45Section 50

…Act. The reasons given in the order of the AO for the said conclusion were as under: (i) The definition of „transfer‟ in Section 2(47) of the Act was an inclusive one. On the strength of the decision of the Supreme Court in CIT v. Narang Dairy Products 219 ITR 478 it was held that the term „transfer‟ could not be restricted to the kinds of transfer enumerated therein and would include every possible transaction which results in destruction, annihilation, extinction, termination, cessation or cancellation by satisfaction or otherwise of all or any of bundle of rights which the Assessee has in capital as…

Teletube Electronics Ltd

The appeal of the Assessee is allowed

ITA/38/2002HC Delhi24 Sept 2015
Section 2Section 2(47)Section 260ASection 45Section 50

…Act. The reasons given in the order of the AO for the said conclusion were as under: (i) The definition of „transfer‟ in Section 2(47) of the Act was an inclusive one. On the strength of the decision of the Supreme Court in CIT v. Narang Dairy Products 219 ITR 478 it was held that the term „transfer‟ could not be restricted to the kinds of transfer enumerated therein and would include every possible transaction which results in destruction, annihilation, extinction, termination, cessation or cancellation by satisfaction or otherwise of all or any of bundle of rights which the Assessee has in capital as…

Teletube Electronics Ltd

The appeal of the Assessee is allowed

ITA/132/2002HC Delhi24 Sept 2015
Section 2Section 2(47)Section 260ASection 45Section 50

…Act. The reasons given in the order of the AO for the said conclusion were as under: (i) The definition of „transfer‟ in Section 2(47) of the Act was an inclusive one. On the strength of the decision of the Supreme Court in CIT v. Narang Dairy Products 219 ITR 478 it was held that the term „transfer‟ could not be restricted to the kinds of transfer enumerated therein and would include every possible transaction which results in destruction, annihilation, extinction, termination, cessation or cancellation by satisfaction or otherwise of all or any of bundle of rights which the Assessee has in capital as…

CIT v. Narang Dairy Products (219 ITR 478) — Cited in 9 Judgments | BharatTax