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“Section 10(2)(vii)”

Section References (mined)Section 10Section 10(2)(vii)6 judgments

KHANDELWAL SOYA INDUSTRIES LIMITED ,RAMPUR vs. ACIT(CENTERAL), BAREILLY

In the result, appeal of the assessee is partly allowed in the\nterms indicated hereinbefore

ITA 93/LKW/2022[F.Y.2005-06]Status: DisposedITAT Lucknow29 Aug 2025
Section 127Section 132Section 153ASection 153DSection 194H

instant case. What was decided in Nathmal\nSriniwas v. Commissioner of Income-tax, is that in order to attract the\napplication of section 10(2)(vii) the machinery or plant must be such as\nwas used for the purposes of the business for at least a part of the\naccounting ... business even though in a\nlater part of the accounting year it was not in active use.\nI, therefore, decide that section 10(2)(vii) together with the second proviso\nis applicable in the instant case and the question must be answered in the\naffirmative.\n\nITA Nos.90 to 93/LKW/2022

HAMILTON HOUSEWARES PRIVATE LIMITED,DAMAN & DIU vs. PR. COMMISSIONER OF INCOME TAX, VALSAD

In the result, appeal filed by the assessee is allowed

ITA 163/SRT/2022[2017-18]Status: DisposedITAT Surat31 May 2023AY 2017-18

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.163/Srt/2022 "नधा"रण वष"/Assessment Year: (2017-18) (Virtual Hearing) Hamilton Houseware Pvt. Ltd., Vs. The Pcit, Valsad. Plot No.49/50, Danydyog Industrial Estate, Piparia 396230, Dadra & Nagar Haveli. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcd1683Q

Section 115JSection 143(3)Section 263Section 35Section 80GSection 80I

properly included in the assessee's total income computed for the assessment year 1946-47. It was argued that the fourth proviso to section 10(2)(vii) of the Income-tax Act (inserted by the Amendment Act of 1946 with effect from May 4, 1946) under which the inclusion ... assessed after that date ; and that the assessee was not liable to pay tax on the sum because the fourth proviso to section 10(2)(vii) of the Income-tax Act under which it was sought to be taxed was not in force in respect of the assessment year

ACIT CENT .CIR6(4), MUMBAI vs. M/S. KENNETH BUILDERS & DEVELOPERS LTD, MUMBAI

In the result, the appeal of the revenue stand dismissed

ITA 2396/MUM/2021[2017-18]Status: DisposedITAT Mumbai30 Dec 2022AY 2017-18

Bench: Shri Aby T Varkey & Shri Amarjit Singhthe Asstt. Commissioner Vs. Kenneth Builders & Of Income Tax, Cc-6(4) Developers Limited Room No. 1925, 19Th 15Th Floor, Tower – 1, Floor, Air India Building, Indiabulls Finance Center Nariman Point, Senapati Bapat Marg, Mumbai- 400021 Elphistone, Mumbai - 400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aacck8268P Appellant .. Respondent

For Appellant: Rakesh RanjanFor Respondent: K. Gopal & Om Kandalkar
Section 115JSection 143(2)

being receipt capital nature. As regards taxability of the realisation against the depreciable assets, for levy a balancing charge under second proviso to section 10(2)(vii), it is absolutely necessary that the depreciable assets should have sold a agreed to between parties. But exchange there is reciprocal transfer ... sale of logs received against the depreciable assets could not be brought to tax against the assesse under the second proviso to section 10(2)(vii). Accordingly, the High Court was justified in accepting the assessee’s claim...." In the case Chheda Housing Development Corpn. v. Addl

COMMISSIONER OF INCOME TAX DEL vs. M/S ABHUINANDAN INVESTMENTS LT

Appeals are allowed

ITA - 853 / 2005HC Delhi07 Aug 2020
Section 260ASection 391Section 47

facts of that case. 10. Motors & General Stores (P.) Ltd.'s case (supra) relates to the interpretation of the word 'sale' in section 10(2)(vii). The said decision has no bearing on the present case. 11. Having regard to the principles laid down in the decisions aforementioned, it must

COMMISSIONER OF INCOME TAX DEL vs. M/S M/S JINDAL EQUIPMENT LEASI

Appeals are allowed

ITA - 935 / 2005HC Delhi07 Aug 2020
Section 260ASection 391Section 47

facts of that case. 10. Motors & General Stores (P.) Ltd.'s case (supra) relates to the interpretation of the word 'sale' in section 10(2)(vii). The said decision has no bearing on the present case. 11. Having regard to the principles laid down in the decisions aforementioned, it must

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

ITA - 961 / 2005HC Delhi07 Aug 2020
Section 260ASection 391Section 47

facts of that case. 10. Motors & General Stores (P.) Ltd.'s case (supra) relates to the interpretation of the word 'sale' in section 10(2)(vii). The said decision has no bearing on the present case. 11. Having regard to the principles laid down in the decisions aforementioned, it must