THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

37. (1) Any Expenditure (not being expenditure of the nature described in 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

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

The appeals are disposed of

Bench: ALOK ARADHE,RAVI V HOSMANI

capital gains. Notices under Section 143(2) / 142(1) of the Act were issued to the Assessee an order under Section 143(3) of the Act was passed on 28.02.2005 disallowing an amount of Rs.192,53,21,426/- on reversal of interest pertaining to earlier years as deduction out of current years income and added back to interest on zero

THE PR COMMISSIONER OF INCOME TAX, vs. M/S JAY MINERALS

Bench: KRISHNA S.DIXIT,PRADEEP SINGH YERUR

gains, vide Calcutta Company Ltd. Vs. CIT: 37 ITR 1 (SC); this proposition emerges from a plain reading of Section 37(1) of the Act which has the following text: “37. (1) Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital

THE PR COMMISSIONER OF INCOME TAX vs. SHRI.M. ABDUL ZAHID

Bench: KRISHNA S.DIXIT,PRADEEP SINGH YERUR

gains, vide Calcutta Company Ltd. Vs. CIT: 37 ITR 1 (SC); this proposition emerges from a plain reading of Section 37(1) of the Act which has the following text: “37. (1) Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital

M/S TELCO CONSTRUCTION CO.LTD vs. THE ASST COMMISSIONER

In the result, the appeal fails and is hereby

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 37(1) of the Act provides for deduction of any expenditure not being in the nature of capital expenditure or personal expenses of the assessee laid out or expended wholly and exclusively for the purposes of business or profession shall be allowed in computing the income chargeable under the head 'profits and gains

V.S. CHANDRASHEKAR vs. ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the first substantial question of law is

Bench: ALOK ARADHE,R. NATARAJ

capital gains' and 3 not under the head 'profit and gains from business or profession? (iii) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was right in law in holding that provisions of Section 50C are applicable to the instant case of sale of subject land by the appellant? (iv) Whether

THE PR. COMMISSIONER OF INCOME TAX vs. M/S CANARA HOUSING DEVELOPMENT COMPANY

In the result, the above appeal is allowed and the

Bench: S.G.PANDIT,C.M. POONACHA

37 (1)Any expenditure (not being expenditure of the nature described in sections 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 purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains

PR COMMISSIONER OF INCOME TAX vs. M/S ENNOBLE CONSTRUCTION

Bench: KRISHNA S.DIXIT,P.KRISHNA BHAT

1) section 37, which has the following text: “Any expenditure (not being expenditure of the nature described in 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

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

Appeals are dismissed

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

37 guntas 14.02.2007 MR Kodanda Ram 10 acres 8 guntas 14.02.2007 MR Ananda Ram 21 acres 27 guntas 14.02.2007 MR Prabhavathy 2 acres 10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

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

37 guntas 14.02.2007 MR Kodanda Ram 10 acres 8 guntas 14.02.2007 MR Ananda Ram 21 acres 27 guntas 14.02.2007 MR Prabhavathy 2 acres 10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

Appeals are dismissed

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

37 guntas 14.02.2007 MR Kodanda Ram 10 acres 8 guntas 14.02.2007 MR Ananda Ram 21 acres 27 guntas 14.02.2007 MR Prabhavathy 2 acres 10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income

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

Appeals are dismissed

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

37 guntas 14.02.2007 MR Kodanda Ram 10 acres 8 guntas 14.02.2007 MR Ananda Ram 21 acres 27 guntas 14.02.2007 MR Prabhavathy 2 acres 10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income

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

Appeals are dismissed

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

37 guntas 14.02.2007 MR Kodanda Ram 10 acres 8 guntas 14.02.2007 MR Ananda Ram 21 acres 27 guntas 14.02.2007 MR Prabhavathy 2 acres 10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income

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

Appeals are dismissed

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

37 guntas 14.02.2007 MR Kodanda Ram 10 acres 8 guntas 14.02.2007 MR Ananda Ram 21 acres 27 guntas 14.02.2007 MR Prabhavathy 2 acres 10 guntas 5 acres 38 guntas 9 acres 12 guntas 5 acres 26 guntas 08.02.2008 08.02.2008 08.02.2008 14.01.2008 MR Sampangiramaiah 11 acres 08.02.2008 MR Padmavathy Trust 9 acres 32 guntas 08.02.2008 3. Assessees filed returns of income

THE COMMISSIONER OF INCOME TAX vs. M/S. STATE BANK OF MYSORE

In the result, the order passed by the tribunal

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

37(1) of the Act provides that any expenditure not being expenditure of the nature described in Sections 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 purposes of the business or profession shall be allowed in computing the income chargeable under

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

Bench: S.SUJATHA,RAVI V HOSMANI

1)(iii) of the Income Tax Act, 1961 (for short ‘the Act’) when the interest would not have been payable to banks, if funds were not provided to subsidiaries?,” the Hon’ble - 12 - Apex Court held that, the issue raises a pure question of fact. The High Court has noted the finding of the Tribunal that the interest free funds

SHRI N G CHANDRA REDDY (HUF) vs. THE DEPUTY COMMISSIONER OF

The appeal is disposed of in the above terms

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

37. Whether the Tribunal failed to appreciate that the notice under section 148 issued is bad in law and not in accordance with law and consequently the entire proceedings are unsustainable in law on the facts and circumstance of the case. 38. Whether the Tribunal erred in law in not holding that no capital gains can be quantified

PR. COMMISSIONER OF INCOME TAX vs. SRI C RAMAIAH REDDY

Bench: ALOK ARADHE,M.NAGAPRASANNA

capital gain of RS.7,41,04,606/- for Assessment year 2012-13? (ii) Whether in the facts and circumstances of the case, the tribunal was correct in law in holding that the cost of the properties received in partial partition of HUF to be adopted as claimed by the assessee under Section 37(1