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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

36. The Apex Court had an occasion to go into the validity of the agreements entered into under these provisions and their enforceability in the case of UNION OF INDIA AND ANOTHER VS. AZADI BACHAO ANDOLAN AND ANOTHER reported in 263 ITR 706. Dealing with the purpose of provisions for avoidance of double taxation, the Supreme Court at page

THE PR COMMISSIONER OF vs. M/S MPHASIS LIMITED

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

gains or short term capital loss. Therefore, the tax stood cleared in the year 2016 through revised returns. This fact is not in dispute. After the petitioners filed their revised returns complaints come to be registered against all these petitioners invoking Section 200 of the CrPC before the learned Magistrate for offences punishable under Section

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

36 have been issued at that time on account of being beyond the time limit specified under the provisions of Section 149(1)(b) as they stood prior to 01.04.2021; in other words, the proviso mandates that if a notice could not have been issued under Section 148 as being barred by limitation under Section 149(1

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

The appeal stands dismissed

Bench: This Bench.

1) There should be a distribution of capital assets of a firm; (2) Such distribution should result in transfer of a capital asset by firm in favour of the partner; and 32 (3) On account of the transfer there should be a profit or gain derived by the firm. (4) Such distribution should be on dissolution of the firm

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

Bench: K.SOMASHEKAR,UMESH M ADIGA

capital gains earned thereon had not been declared for tax. Accordingly, a sum of Rs.5,25,000/- was brought to tax. 15. Further at paragraph 8 of the order relating to bogus transportation expenses claimed for the assessment years 2009- 10 and 2010-11, the assessing officer has brought on record that the appellant has claimed transportation expenses

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

Bench: K.SOMASHEKAR,UMESH M ADIGA

capital gains earned thereon had not been declared for tax. Accordingly, a sum of Rs.5,25,000/- was brought to tax. 14.Further at paragraph 8 of the order relating to bogus transportation expenses claimed for the assessment years 2009- 10 and 2010-11, the assessing officer has brought on record that the appellant has claimed transportation expenses for the years

THE COMMISSIONER vs. M/S VIJAYA BANK

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

III STAGE, BANGALORE-560 085. …APPELLANTS (BY SRI K.V.ARAVIND, ADV.) AND: M/S. VIJAYA BANK, HO: CENTRAL ACCOUNTS DEPT. 41/2, M.G.ROAD, BANGALORE-560 001. …RESPONDENT (BY SRI T.SURYANARAYANA, ADV.) - - - 2 THIS I.T.A. IS FILED UNDER SECTION 260-A OF I.T.ACT, 1961, ARISING OUT OF ORDER DATED: 11/09/2015 PASSED IN ITA NO.747/Bang/2011, FOR THE ASSESSMENT YEAR 2007-2008. THIS I.T.A. COMING

SMT. M R PRABHAVATHY vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mr. Justice K.Natarajan Election Petition No.1 Of 2019 Connected With Election Petition No.2 Of 2019

gainful employment except his influence in political background of his grand father, father, uncle, whereas the respondent No.2 - A.Manju is a qualified law graduate and Ex-Minister and Ex-member of various organization was contested and succeeded against JDS. The BJP had expected the Hassan constituency to be the winning constituency. The respondent No.1 while filing his nomination

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

The appeal is allowed in part

Bench: B.MANOHAR,DILIP B.BHOSALE

1% of the value of the share. The assessee indexed the cost of acquisition to Rs.3,12,77,964/- and arrived at long term capital loss of Rs.3,10,22,946/-. The Assessing Officer on verification 26 of the records came to the conclusion that buying and selling of the shares of RAL were between the interested persons and family

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

Section 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee, laid out or expended wholly and exclusively for the purpose of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession. Explanation. - For the removal of doubts

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

M/S FIDELITY BUSINESS SERVICES INDIA PVT LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,VINEET KOTHARI

36. He also drew our attention to Section 46-A of the Act which provides for “Levy of capital gains on purchase by the Company of its own shares or other specified securities”. The said provision is also quoted below for ready reference:- “Section 46A: Where a shareholder or a holder of other specified securities receives Date of Judgment

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains of business and profession and therefore, depreciation has to be allowed. That reference made to Section 24 of the Act by the counsel for the Revenue is incorrect. He, therefore, contended that the Tribunal has rightly granted the depreciation on elevators also. - 18 - 15. We have considered the aforesaid submissions in light of the lease agreement dated 11/8/2003, which

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains of business and profession and therefore, depreciation has to be allowed. That reference made to Section 24 of the Act by the counsel for the Revenue is incorrect. He, therefore, contended that the Tribunal has rightly granted the depreciation on elevators also. - 18 - 15. We have considered the aforesaid submissions in light of the lease agreement dated 11/8/2003, which

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains of business and profession and therefore, depreciation has to be allowed. That reference made to Section 24 of the Act by the counsel for the Revenue is incorrect. He, therefore, contended that the Tribunal has rightly granted the depreciation on elevators also. - 18 - 15. We have considered the aforesaid submissions in light of the lease agreement dated 11/8/2003, which

THE COMMISSIONER OF INCOME TAX vs. M/S WEIZMANN HOMES LTD

Bench: B.MANOHAR,N.KUMAR

capital [and of the general reserves] of the corporation [or, as the case may be, the company], no allowance under this clause shall be made in respect of such excess. [Explanation.- In this clause.- (a) …........ (b) …........ (c) …........ (d) …........ [(e) “long-term finance” means any loan or advance where the terms under which moneys are loaned or advanced provide for repayment

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. M/S BPL SANYO FINANCE LTD

In the result, the appeal filed by the revenue is

Bench: The Tribunal Was Arising From The Order Dated 4Th June 2004 Passed By The Commissioner Of Income Tax (Appeals) Bangalore (For Short “The

capital merely to save 35% thereof as a tax. To add to this, 15 the assessee pays tax on entire lease rent which effectively and substantially reduces any tax advantage available by way of claim of depreciation. In the net result it will still loose more than 65% of its own money, which no person will ever do. Thus, there