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

M/S GAONKAR MINES vs. THE ADDL COMMISSIONER

Bench: The Hon'Ble Dr.Justice Vineet Kothari

234C can be considered, are as follows: (a) Where during the course of proceedings for search and seizure under section 132 of the Income-tax Act, or otherwise, the books of account and other incriminating documents have been seized, and the assessee has been unable to furnish the return of income for the previous year, during which the action under

COMMISSIONER OF INCOME TAX vs. S.MADHAVA (HUF)

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

234C of the Income Tax Act. 15. The Appellate authority held, since there was search on 21.10.2003, a notice under Section 153A had to be issued and, earlier when returns filed by him was beyond the period prescribed, a notice under Section 148 and/or 153A was ordered and, therefore, the contention that reopening of the assessment is not valid

COMMISSIONER OF INCOME TAX vs. S.PARVATHI MADHAVA

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

234C of the Income Tax Act. 15. The Appellate authority held, since there was search on 21.10.2003, a notice under Section 153A had to be issued and, earlier when returns filed by him was beyond the period prescribed, a notice under Section 148 and/or 153A was ordered and, therefore, the contention that reopening of the assessment is not valid

COMMISSIONER OF INCOME TAX vs. S.MADHAVA, M/S BELLARY STEEL ROLING MILLS,

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

234C of the Income Tax Act. 15. The Appellate authority held, since there was search on 21.10.2003, a notice under Section 153A had to be issued and, earlier when returns filed by him was beyond the period prescribed, a notice under Section 148 and/or 153A was ordered and, therefore, the contention that reopening of the assessment is not valid

COMMISSIONER OF INCOME TAX vs. S.MADHAVA, M/S BELLARY STEEL ROLING MILLS,

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

234C of the Income Tax Act. 15. The Appellate authority held, since there was search on 21.10.2003, a notice under Section 153A had to be issued and, earlier when returns filed by him was beyond the period prescribed, a notice under Section 148 and/or 153A was ordered and, therefore, the contention that reopening of the assessment is not valid

COMMISSIONER OF INCOME TAX vs. S.MADHAVA (HUF)

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

234C of the Income Tax Act. 15. The Appellate authority held, since there was search on 21.10.2003, a notice under Section 153A had to be issued and, earlier when returns filed by him was beyond the period prescribed, a notice under Section 148 and/or 153A was ordered and, therefore, the contention that reopening of the assessment is not valid

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

PR COMMISSIONER OF INCOME TAX vs. M/S UNITED SPIRITS LTD

Bench: S.SUJATHA,RAVI V HOSMANI

234C and 234D of the Act further disallowing foreign exchange loss. The assessee preferred appeal before the CIT[A] which came to be partly allowed. Hence, the assessee as well as the Revenue both preferred appeals before the Tribunal. The Tribunal has restored the first four issues to the file of the Assessing Authority and dismissed the appeal