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

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

gain. The Hon'ble Court held that the expression "capital asset" is defined in section 2(14) to mean "property

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)

2) and (3) of Section 17. This brings us to consider the scheme of computation of total income which is contained in Chapter IV of the Act. Section 14 deals with heads of income. It provides that save as otherwise provided by this Act, all income shall, for the purposes of charge of income-tax and computation of 61 total

THE COMMISSIONER OF INCOME TAX vs. LATE KHOOBCHAND M MAKHIJA

The appeals are dismissed

Bench: N.KUMAR,RATHNAKALA

2), where, m the case of an assesses being an individual or a Hindu undivided family, the capital gain arises - 12 - from the transfer of a long-term capital asset, being buildings or lands appurtenant thereto, and being a residential house, the income of winch is chargeable under the head ‘Income from house property’ (hereafter in this section referred

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

Appeals are dismissed

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

Section 2(14)(iii) of the Act and therefore attract tax on the Capital gains. 7. Opposing the appeals, Shri

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

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

Section 2(14)(iii) of the Act and therefore attract tax on the Capital gains. 7. Opposing the appeals, Shri

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

Appeals are dismissed

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

Section 2(14)(iii) of the Act and therefore attract tax on the Capital gains. 7. Opposing the appeals, Shri

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

Appeals are dismissed

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

Section 2(14)(iii) of the Act and therefore attract tax on the Capital gains. 7. Opposing the appeals, Shri

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

Appeals are dismissed

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

Section 2(14)(iii) of the Act and therefore attract tax on the Capital gains. 7. Opposing the appeals, Shri

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

Appeals are dismissed

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

Section 2(14)(iii) of the Act and therefore attract tax on the Capital gains. 7. Opposing the appeals, Shri

THE COMMISSIONER OF INCOME TAX vs. M/S PRAKASH ELECTRIC COMPANY

Bench: S.SUJATHA,VINEET KOTHARI

2) Where at any time, before the expiry of a period of three years from the date of the transfer of a capital asset referred to in clause (xi) of section 47, any of the shares allotted to the transferor in exchange of a membership in a recognized stock exchange are transferred, the amount of profits and gains not charged

KIDS CLINIC INDIA PRIVATE LIMITED

Bench: KRISHNA S DIXIT

2) Where at any time, before the expiry of a period of three years from the date of the transfer of a capital asset referred to in clause (xi) of section 47, any of the shares allotted to the transferor in exchange of a membership in a recognized stock exchange are transferred, the amount of profits and gains not charged

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

capital gains, and also disallowed 50% of expenses on transfer claimed by the assessee. Besides this, certain other disallowances were also made by the Assessing Officer. Challenging the same, the assessee filed an appeal before the Commissioner of Income Tax (Appeals), who granted certain relief, but confirmed the reopening of assessment under section 147 of the Act; the assessment

M/S NANDI STEELS LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

Section 14, 28, 41(2), 45(1), 56(1), 72 and 74(1) of the Act, which read as under: 14. Heads of income Save as otherwise provided by this Act, all income shall, for the purposes of charge of income- tax and computation of total income, be classified under the following heads of income:- A.- Salaries. B.-] C.- Income

THE COMMISSIONER OF INCOME TAX vs. M/S SHASTHA PHARMA LABORATORIES

The appeal is dismissed

Bench: N.KUMAR,RATHNAKALA

14. Section 47 of the Act, deals with transaction not recorded as transfer. Section 47 (II) of the Act, prior to its deletion, it provides: 1. Nothing contained in Section 45 shall apply to the following provisions. 2. In distribution of the capital assets on the dissolution of the firm, the body of individuals or without associations of persons. This

COMMISSIONER OF INCOME vs. M/S C RAMAIAH REDDY

In the result, we do not find any merit in the appeal

Bench: ALOK ARADHE,M.NAGAPRASANNA

14,68,180/- as long term capital gains and a sum of Rs.61,32,800/- as short term capital gains by invoking Section 45(2

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

The appeal stands dismissed

Bench: S.SUJATHA,VINEET SARAN

14. A reading of these provisions would make it clear that any profits or gains arising from the transfer of a capital asset effected in the previous year shall be chargeable to income tax under the head ‘capital gains’. The income chargeable under the head ‘capital gains’ shall be computed as per the provisions of Section

CHITTHARANJAN A DASANNACHARYA vs. THE COMMISSIONER OF INCOME TAX-V

In the result, the appeal is allowed

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

gains' as claimed by the Appellant? ii. The Hon'ble Tribunal was correct in holding that stock options did not constitute a 'capital asset' under Section 2(14

AZIM PREMJI TRUSTEE COMPANY PVT LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, I pass the following:-

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

capital gain arising from the sale of Wipro shares, the A.O. was made fully aware of the sale price of Wipro shares. In any event, the market price of Wipro shares was completely in the public realm as it is a very well known and widely traded shares. Further, during the course of the 5 scrutiny assessment, the A.O specifically