M/S BHORUKA ENGINEERING INDS. LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Appeal is allowed

Bench: B.MANOHAR,N.KUMAR

29,08,626/- after paying Security Transaction Tax, Service Tax, etc., The sales were executed through a registered stock broker on a recognized stock exchange namely M/s Magadh Stock Exchange Association. The shares were sold to DLF Commercial Developers Limited. The assessee claimed the gain on sale of shares as exempt from taxation under Section 10

THE COMMISSIONER OF INCOME TAX vs. M/S ASSOCIATED ELECTRONIC AND ELCTRICAL

The appeal stands dismissed

Bench: S.SUJATHA,VINEET SARAN

10. We have heard Sri. K.V. Aravind, learned Counsel appearing for the Revenue as well as Sri. A. Shankar, learned Counsel appearing for the Assessee and perused the material on record. 11. Section 45 of the Act is the charging section for ‘capital gains’. Section 45[1] of the Act reads as under: “45. Capital Gains: (1) Any profits

M/S SRI BALAJI CORPORATE SERVICES vs. UNION OF INDIA MINISTRY OF FINANCE

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

10. Petitioners have contended that they are entitled to compensation under the said Act of 2013 and the impugned awards and the decisions taken by the respondents awarding compensation under the said Act of 1894 are illegal, arbitrary and deserve to be quashed and 17 that the respondents are to be directed to pass awards in favour of the petitioners

L. VENKATARAMANA RAJU vs. UNION OF INDIA

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

10. Petitioners have contended that they are entitled to compensation under the said Act of 2013 and the impugned awards and the decisions taken by the respondents awarding compensation under the said Act of 1894 are illegal, arbitrary and deserve to be quashed and 17 that the respondents are to be directed to pass awards in favour of the petitioners

THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO LTD

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

29. The memorandum explaining provisions in the Finance Bill 2003 reads as follows: “Double Taxation Avoidance Agreements- extending the scope to include agreements for developing mutual trade and investment Under the existing section 90, the Central Government may enter into an agreement with the Government of any country outside India for granting of relief in respect of income on which

M/S WIPRO LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

29. The memorandum explaining provisions in the Finance Bill 2003 reads as follows: “Double Taxation Avoidance Agreements- extending the scope to include agreements for developing mutual trade and investment Under the existing section 90, the Central Government may enter into an agreement with the Government of any country outside India for granting of relief in respect of income on which

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

10 tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recomputed the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment

PR COMMISSIONER OF INCOME TAX vs. M/S IND SING DEVELOPERS P LTD

The appeal is dismissed

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains, as an essential object for forming an AOP. However the CBDT Circular explaining the above insertion states that such insertion was only to take care of the claim of certain bodies that they did not fall within the definition of a ‘person’ for the sole reason, that they were not supposed to have any income or profits. Section

COMMISSIONER OF INCOME-TAX vs. M.R.PATTABHIRAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

10(E) [No. 9447 (F.NO.164/3/87-ITA-I)] dated 06.01.1994 issued by the Central Government submitted that agricultural lands, which fall within a distance of 8 kms from Municipal Limits in all directions from Bengaluru only, would fall within the definition of 'Capital Asset'. 15. The Assessing Officer in para 4.3.3 of his order has recorded that assessees had filed a Certificate

COMMISSIONER OF INCOME-TAX vs. M.R.PRABHAVATHY

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

10(E) [No. 9447 (F.NO.164/3/87-ITA-I)] dated 06.01.1994 issued by the Central Government submitted that agricultural lands, which fall within a distance of 8 kms from Municipal Limits in all directions from Bengaluru only, would fall within the definition of 'Capital Asset'. 15. The Assessing Officer in para 4.3.3 of his order has recorded that assessees had filed a Certificate

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

10(E) [No. 9447 (F.NO.164/3/87-ITA-I)] dated 06.01.1994 issued by the Central Government submitted that agricultural lands, which fall within a distance of 8 kms from Municipal Limits in all directions from Bengaluru only, would fall within the definition of 'Capital Asset'. 15. The Assessing Officer in para 4.3.3 of his order has recorded that assessees had filed a Certificate

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

10(E) [No. 9447 (F.NO.164/3/87-ITA-I)] dated 06.01.1994 issued by the Central Government submitted that agricultural lands, which fall within a distance of 8 kms from Municipal Limits in all directions from Bengaluru only, would fall within the definition of 'Capital Asset'. 15. The Assessing Officer in para 4.3.3 of his order has recorded that assessees had filed a Certificate

COMMISSIONER OF INCOME vs. SHRI. M.R. SEETHARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

10(E) [No. 9447 (F.NO.164/3/87-ITA-I)] dated 06.01.1994 issued by the Central Government submitted that agricultural lands, which fall within a distance of 8 kms from Municipal Limits in all directions from Bengaluru only, would fall within the definition of 'Capital Asset'. 15. The Assessing Officer in para 4.3.3 of his order has recorded that assessees had filed a Certificate

THE COMMISSIONER OF INCOME-TAX vs. M.R.ANANDARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

10(E) [No. 9447 (F.NO.164/3/87-ITA-I)] dated 06.01.1994 issued by the Central Government submitted that agricultural lands, which fall within a distance of 8 kms from Municipal Limits in all directions from Bengaluru only, would fall within the definition of 'Capital Asset'. 15. The Assessing Officer in para 4.3.3 of his order has recorded that assessees had filed a Certificate

R JANARDHANA BABU vs. THE MANAGING DIRECTOR

Accordingly, the writ petitions are allowed

Bench: The Hon’Ble Mr. Justice B. Veerappa

capital, but the workman should also be entitled to participate in it. 103 11. Learned senior counsel for the petitioners relied upon the following judgments with regard to “Transfer was malafide”: (i) The Judgment of the Bombay High Court in the case of STANDARD CHARTERED BANK LIMITED, MUMBAI .vs. GRINDLAYS BANK EMPLOYEES UNION, MUMBAI AND ANOTHER reported

SMT JOSHNA RAJENDRA vs. THE INCOME TAX OFFICER

Accordingly, it stands dismissed

Bench: ARAVIND KUMAR,SURAJ GOVINDARAJ

29,17,500/- and as such, difference in sale consideration being to an extent of Rs.2,70,17,500/-, it attracted capital gains tax as per the provisions of Section 50C of the Act. The basis for determining the capital gains tax is valuation. The market value of the property or actual sale consideration whichever is higher was required

M/S SANKHLA POLYMERS (P) LTD vs. THE INCOME TAX OFFICER WARD-12(2)

In the result, the appeal relating to the assessment

Bench: D.V.SHYLENDRA KUMAR,B.SREENIVASE GOWDA

capital gains was concerned, it was held to be at 20%, as laid down in the judgment of this court in the case of The Commissioner of Income Tax vs M/s United Breweries Ltd [ITA No 508 of 2001, decided on 26-11-2007] and therefore submits that this analogy in respect of an exempted income of an assessee

THE PR. COMMISSIONER OF INCOME TAX vs. M/S CISCO SYSTEMS

The appeals are allowed; the impugned

Bench: SATISH CHANDRA SHARMA,R. NATARAJ

capital expenditure is incurred by the assessee for the purposes of the business or profession on the 14 construction of any structure or doing of any work in or in relation to, and by way of renovation or extension of, or improvement to, the building, then, the provisions of this clause shall apply as if the said structure or work