COMMISSIONER OF INCOME TAX vs. M/S.WINTAC LTD.,

The appeal is allowed in part

Bench: B.MANOHAR,DILIP B.BHOSALE

10,22,946/-. the share purchased worth Rs.1.00 crore was also sold to the RAL within few days, for Rs.1,00,000/- and suffered the short term capital loss. The purchase and sale of the shares between the close relatives and interested parties and family members, the entire transactions are colourable device. Hence, they are not entitled to claim short

THE COMMISSIONER OF INCOME TAX vs. LATE KHOOBCHAND M MAKHIJA

The appeals are dismissed

Bench: N.KUMAR,RATHNAKALA

38,530/- in acquiring two residential houses. The balance amount unutilized was Rs.1,63,21,153/-. The assessee deposited a sum of Rs.1,70,00,000/- before 31.7.1996 in the nationalized banks for investment. The Assessing Authority was of the view that the assessee was entitled to the benefit of Section 54(1) of the Act only to the extent

SRI HARIRAM HOTELS P LTD vs. COMMISSIONER OF INCOME TAX (III)

Appeal is allowed

Bench: S.SUJATHA,VINEET SARAN

10. Heard the learned Counsel appearing for the parties and perused the record. 11. Section 115JB of the Act during the relevant period provides that notwithstanding anything contained in any other provisions of this Act, in the case of an assessee being a company, the income tax payable on the total income as computed under the Act is less than

M/S KARNATAKA STATE INDUSTRIAL AND INFRASTRUCTURE DEVELOPMENT CORPORATION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

The appeal is disposed of

Bench: ALOK ARADHE,M.I.ARUN

capital gains under Section 10(38) of the Act, under Section 115JB of the Act. The assessee as well as the revenue

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

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

10 The First Party further agrees and covenants as follows: 10.1 At its own cost and expense, it shall furnish and provide all such information including documents, correspondences, statements and data as may reasonably be required by the Second Party in respect of the contract property and its development and 23 selling rights including but not limited to a General

R JANARDHANA BABU vs. THE MANAGING DIRECTOR

Accordingly, the writ petitions are allowed

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

38 Pharmaceuticals Limited, Devanahalli Road, Off Old Madras Road, Bangalore-560049 133. Sarojini Gopinath, d/o Narayana Rao, aged about 60 years, Glaxosmithkline Pharmaceuticals Limited, Devanahalli Road, Off Old Madras Road, Bangalore-560049 134. S Kameshwari, d/o M R Raman Nair, aged about 59 years, Glaxosmithkline Pharmaceuticals Limited, Devanahalli Road, Off Old Madras Road, Bangalore-560049 135. A Deva Pushpam

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

Appeals are dismissed

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

10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income for A.Y.1 2008-09 under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) and revised returns excluding capital

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

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

10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income for A.Y.1 2008-09 under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) and revised returns excluding capital

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

Appeals are dismissed

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

10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income for A.Y.1 2008-09 under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) and revised returns excluding capital

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

Appeals are dismissed

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

10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income for A.Y.1 2008-09 under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) and revised returns excluding capital

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

Appeals are dismissed

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

10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income for A.Y.1 2008-09 under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) and revised returns excluding capital

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

Appeals are dismissed

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

10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income for A.Y.1 2008-09 under Section 139(1) of the Income Tax Act, 1961 ('the Act' for short) and revised returns excluding capital

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

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

Capital gains” arising from the transfer of agricultural land, where- (i) such land is situate in any area referred to in item (a) or item (b) of sub-clause (iii) of clause (14) of section 2; (ii) such land, during the period of two years immediately preceding, the date of transfer, was being used for agricultural purposes by such Hindu

L. VENKATARAMANA RAJU vs. UNION OF INDIA

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

Capital gains” arising from the transfer of agricultural land, where- (i) such land is situate in any area referred to in item (a) or item (b) of sub-clause (iii) of clause (14) of section 2; (ii) such land, during the period of two years immediately preceding, the date of transfer, was being used for agricultural purposes by such Hindu

THE PR COMMISSIONER OF vs. M/S MPHASIS LIMITED

Bench: The Hon'Ble Mr. Justice M. Nagaprasanna

10) If a person legally entitled to the books of account or other documents seized under sub-section (1) or sub-section (1-A) objects for any reason to the approval given by the [Principal Chief Commissioner or Chief Commissioner], [Principal Commissioner or Commissioner], [Principal Director General or Director General] or Director] under sub-section (8), he may make