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

Bench: S.SUJATHA,VINEET KOTHARI

3) of the Act and imposed the capital gains tax under Section 45 read with Section 47A of the Act on the successor company. Date of Order: 23-07-2018. ITA No.884/2007 c/w ITA No.60/2015 The Commissioner of Income Tax & Anr. Vs. M/s Prakash Electric Company 19/30 12. He submitted that there was no profit or gains in the hands

KIDS CLINIC INDIA PRIVATE LIMITED

Bench: KRISHNA S DIXIT

3) of the Act and imposed the capital gains tax under Section 45 read with Section 47A of the Act on the successor company. Date of Order: 23-07-2018. ITA No.884/2007 c/w ITA No.60/2015 The Commissioner of Income Tax & Anr. Vs. M/s Prakash Electric Company 19/30 12. He submitted that there was no profit or gains in the hands

THE PR COMMISSIONER OF vs. M/S MPHASIS LIMITED

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

gain and the other deduction for short term capital loss while filing their returns under Section 139 of the Act. All was well up to September, 2015. The Department conducted search on all the petitioners herein under Section 132 of the Act. Section 132 of the Act reads as follows: “132. Search and seizure.—(1) [Where the [Principal Director General

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

1) issued by Respondent No.1 under Section 148 of the Income –tax Act, 1961, for the Assessment Year 2014-15(Annexure-‘B’); (iii) Declaring that Section 56(2) (vii) (c) of the Income-tax Act, 1961, has no application to the listed 3 shares of Wipro Ltd., that were gifted to Pioneer Independent Trust in the previous year relevant

SRI. P S SESHADRI. vs. THE CHIEF COMMISSIONER OF INCOME TAX

In the result, this petition is allowed in part

Bench: The Hon'Ble Mr.Justice Ram Mohan Reddy

capital gains tax of Rs.29,09,800/- on 25.9.2007 under the challan Annexure-K. 4. Petitioner’s return was processed and after assessment was issued with an intimation under Section 143(1) on 10.1.2008 Annexure-L, since the department selected petitioner’s return for scrutiny and passed an assessment order on 11.03.2008 Annexure-N under subsection (3

THE COMMR OF INCOME TAX vs. M/S DYNAMIC ENTERPRISE

The appeal stands dismissed

Bench: This Bench.

3) and (4) of the Income Tax Act reads as under: “45. Capital Gains.- [(1)] Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections

PR. COMMISSIONER OF INCOME TAX vs. SMT. G. LAKSHMI ARUNA

Bench: K.SOMASHEKAR,UMESH M ADIGA

1(3), Bangalore dated 31.03.2013, further an appeal was preferred before the Commissioner of Income Tax (Appeals) – VI wherein the appellate order and ground of decision was passed. The assessments under Section 153C read with Section 144 of the IT Act for assessment years 2005-06 to 2010-11 and under Section 153D read with Section 144 for the assessment

PR. COMMISSIONER OF INCOME TAX vs. SHRI. GALI JANARDHANA REDDY

Bench: K.SOMASHEKAR,UMESH M ADIGA

1(3), Bangalore dated 31.03.2013 an appeal was preferred before the Commissioner of Income Tax (Appeals) – VI wherein the appellate order and ground of decision was passed. The assessments under Section 153C read with Section 144 of the IT Act for assessment years 2005-06 to 2010-11 and under Section 154D read with Section 144 for the assessment year

M/S. THE KOLAR & CHICKBALLAPUR vs. THE ASST. COMMISSIONER

The appeal stands disposed of as indicated above

Bench: S.SUJATHA,RAVI V HOSMANI

Capital gains” and claims that the loss or any part thereof should be carried forward under sub-section (1) of section 72, or sub-section (2) of section 73, or sub-section (2) of section 73A or sub-section (1) or sub-section (3

THE COMMISSIONER OF INCOME TAX vs. LATE KHOOBCHAND M MAKHIJA

The appeals are dismissed

Bench: N.KUMAR,RATHNAKALA

1) of the Income Tax Act (for - 3 - short hereinafter referred to as ‘the Act’) in respect of two residential houses purchased and also holding that the assessee is entitled to the exemption under Section 54(2) of the Act, to the extent of unutilized deposit in the capital gain

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

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

3) No loss other than the loss referred to in the proviso to subsection (1) of this section shall be carried for- ward under this 20 section for more than eight assessment years immediately succeeding the assessment year for which the loss was first computed. 74. Losses under the head" Capital gains

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

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

1. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in holding that gain on sale of “technical know-how” was is not capital in nature and it is also not chargeable to tax under Section 45 of the Act when the assessing authority rightly brought to tax as by holding that

DEVAS MULTIMEDIA PRIVATE LIMITED vs. THE PRINCIPAL COMMISSIONER OF INCOME-TAX

Bench: The Hon’Ble Mr.Justice P.B. Bajanthri Writ Petition No.11618 Of 2016 (T-It) Between:

Gains chargeable to tax under Section 45 of the Act are, denied to be income. The amounts received on issue of share capital including the premium is undoubtedly on capital account. Share premium have been made taxable by a legal fiction under Section 56(2)(viib) of the Act and the same is enumerated as Income in Section

COMMISSIONER OF INCOME TAX-III vs. M/S SYNDICATE BANK

The appeals are disposed of

Bench: ALOK ARADHE,RAVI V HOSMANI

3) of the Act. An order was passed withdrawing an amount of Rs.51,06,737/- from long term capital loss and same has been taxed as short term capital gains. Notices under Section 143(2) / 142(1

THE PR. COMMISSIONER OF INCOME-TAX vs. M/S. ELECTRONICS AND CONTROLS

Appeal stands dismissed

Bench: S.SUJATHA,E.S.INDIRESH

Capital gains" and claims that the loss or any part thereof should be carried forward under sub-section (1) of section 72, or sub-section (2) of section 73, or sub-section (2) of section 73A or sub-section (1) or sub-section (3

ANTONY PARAKAL KURIAN vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeal is allowed in part

Bench: S.SUJATHA,S RACHAIAH

Capital gains amounting to Rs.2,23,47,434/- was claimed as an exemption under Section 54 of the Act and Rs.25 Lakhs is claimed as an exemption for making investment in REC bonds under Section 54EC of the Act. The contention of the appellant 6 was that out of the advance amount of Rs.50 lakhs received from M/s. Fashion Jewellery

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

In the result, I proceed to pass the following:

Bench: The Hon’Ble Mr.Justice Aravind Kumar

gains of business or profession. 43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) "actual cost" means xxx section 47. (2) "paid" means actually xxx profession. (3) "plant" includes xxx fittings. (4)[(i) "scientific research" means any activities for the extension of knowledge in the fields of natural or applied science including agriculture

THE COMMISSIONER OF INCOME TAX vs. MRS SHAKUNTALA DEVI

Appeal is hereby dismissed

Bench: ARAVIND KUMAR,JAYANT PATEL

3. Assessing officer has noticed that assessee had sold a flat at Mumbai on 04.02.2003 for a total consideration of `1,71,00,000/- and had worked out long-term capital gain of `1,44,68,032/- and had claimed exemption under Section