M/S T T K PRESTIGE LTD vs. THE UNION OF INDIA REPTD BY ITS FINANCE SECRETARY

Bench: The Hon’Ble Mr.Justice P.B. Bajanthri W.P. No.26037/2005 C/W W.P.No.4464/2007 & W.P.No.27087/2005(It)

Capital Gains F. Income from other sources. (2) 'Perquisite' includes : (i) the value of rent-free accommodation provided to the assessee by his employer; (ii) the value of any concession in the matter of rent respecting any accommodation provided to the assessee by the employer; (iii) the value of any benefit or amenity granted or provided free of cost

PR COMMISSIONER OF WEALTH TAX-6 vs. M R KODANDRAM

Appeals stand dismissed

Bench: RAVI MALIMATH,ASHOK S.KINAGI

115 taxmann.com 5 (SC)] while considering the provision of Section 53 of the TP Act in the context of capital gains

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

gains of an eligible business to which the provisions of sub-section (1) apply shall, for the purposes of determining the quantum of deduction under that sub-section for the assessment year immediately succeeding the initial assessment year or any subsequent assessment year, be computed as if such eligible business were the only source of income of the assessee during

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

M/S BEST TRADING & AGENCIES LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the orders passed by the

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital asset sold during the year. Being aggrieved, the assessee filed an appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) by an order dated 05.10.2009 inter alia held that there is a close nexus between the interest earned on the fixed deposits and the interest paid to the lenders and the creditors

M/S BEST TRADING & AGENCIES LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the orders passed by the

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital asset sold during the year. Being aggrieved, the assessee filed an appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) by an order dated 05.10.2009 inter alia held that there is a close nexus between the interest earned on the fixed deposits and the interest paid to the lenders and the creditors

THE COMMISSIONER vs. M/S CANARA BANK

In the result, the appeal stands disposed of in terms of

Bench: S.SUJATHA,RAVI V HOSMANI

capital gains on sale of such assets? 3. "Whether on the facts and in the circumstances of the case, the Tribunal is right in law in setting aside the addition made in respect of realization of assets of erstwhile Lakshmi Commercial Bank by erroneously holding that, when the excess of liabilities over assets is not 4 allowed as deduction

THE COMMISSIONER vs. M/S CANARA BANK

In the result, we do not find merit in these

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital gains on sale of such assets? 3. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in setting aside that the 5 provisions of Section 115JB are not applicable to banking companies as no accounts are drawn up as per the requirement of Schedule VI of the Companies

THE COMMISSIONER vs. M/S CANARA BANK

In the result, we do not find merit in these

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital gains on sale of such assets? 3. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in setting aside that the 5 provisions of Section 115JB are not applicable to banking companies as no accounts are drawn up as per the requirement of Schedule VI of the Companies

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

gains of business or profession. Explanation. - For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee for any purpose which is an offense or which is prohibited by law shall not be deemed to have been incurred for the purposes of business or profession and no deductions or allowance shall be made in respect

SHRI NARAYAN RAO HEBRI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal stands dismissed

Bench: S.G.PANDIT,K. V. ARAVIND

capital gains and treated the sum of Rs.1,14,20,100/-, so declared, along with the unexplained cash of Rs.24,00,000/-, as income from other sources and subjected the same to tax under Section 115BBE of the I.T. Act. The assessment was completed by order dated 17.07.2019. 4.3 Aggrieved thereby, the assessee preferred an appeal before the Commissioner

M/S CANBANK FINANCIAL SERVICES LTD vs. CHIEF COMMISSIONER OF INCOME TAX

Bench: The Hon'Ble Dr.Justice Vineet Kothari

Capital gains is received or accrued after due date of payment of the first or subsequent installments of advance tax, which was neither anticipated nor was in the contemplation of the assessee, and the advance tax on such income is paid in the remaining installment or installments, and the Chief Commissioner/Director General is satisfied on the facts and circumstances Date

THE COMMISSIONER vs. M/S VIJAYA BANK

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

115 JB of the Act, the tax was computed at Rs.12,60,62,901/-. Subsequently, the case was selected for scrutiny and Notices under Section 143(2) of the Act were issued on 05.09.2008 and 26.09.2008. The Assessing Officer by order dated 09.12.2009 inter alia disallowed the deduction of Rs.20,00,00,000/- claimed under Section 36(1)(viii

DR. MADHAVA. M. vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

115. 7. DR JAYANTH H AGED ABOUT 28 YEARS, S/O MADUSUDHAN V HULAGI, RESIDING AT NO.348, A MAIN, 1ST A CROSS, UPAKAR LAYOUT, ULLAL, BANGALORE-560056. 8. DR MD SARFARAAZ RAJA C S/O MD ISMAIL C, AGED ABOUT 28 YEARS, RESIDING AT DOOR NO.11, V.P.ROAD,2ND CROSS, OPPOSITE TO SURAKASHA DENTAL CLINIC, OLD MADIWALA, BANGALORE-560068 9. DR HUMERA JABEEN

DR ARJUN KALASAPUR vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

115. 7. DR JAYANTH H AGED ABOUT 28 YEARS, S/O MADUSUDHAN V HULAGI, RESIDING AT NO.348, A MAIN, 1ST A CROSS, UPAKAR LAYOUT, ULLAL, BANGALORE-560056. 8. DR MD SARFARAAZ RAJA C S/O MD ISMAIL C, AGED ABOUT 28 YEARS, RESIDING AT DOOR NO.11, V.P.ROAD,2ND CROSS, OPPOSITE TO SURAKASHA DENTAL CLINIC, OLD MADIWALA, BANGALORE-560068 9. DR HUMERA JABEEN

DR SWAMY MANJUNATH S T vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

115. 7. DR JAYANTH H AGED ABOUT 28 YEARS, S/O MADUSUDHAN V HULAGI, RESIDING AT NO.348, A MAIN, 1ST A CROSS, UPAKAR LAYOUT, ULLAL, BANGALORE-560056. 8. DR MD SARFARAAZ RAJA C S/O MD ISMAIL C, AGED ABOUT 28 YEARS, RESIDING AT DOOR NO.11, V.P.ROAD,2ND CROSS, OPPOSITE TO SURAKASHA DENTAL CLINIC, OLD MADIWALA, BANGALORE-560068 9. DR HUMERA JABEEN

DR PRESTEENA MATHEW vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

115. 7. DR JAYANTH H AGED ABOUT 28 YEARS, S/O MADUSUDHAN V HULAGI, RESIDING AT NO.348, A MAIN, 1ST A CROSS, UPAKAR LAYOUT, ULLAL, BANGALORE-560056. 8. DR MD SARFARAAZ RAJA C S/O MD ISMAIL C, AGED ABOUT 28 YEARS, RESIDING AT DOOR NO.11, V.P.ROAD,2ND CROSS, OPPOSITE TO SURAKASHA DENTAL CLINIC, OLD MADIWALA, BANGALORE-560068 9. DR HUMERA JABEEN