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

The appeal is dismissed

Bench: N.KUMAR,RATHNAKALA

capital assets on the - 20 - dissolution of the firm. Section 45 (4) of the Act reads as under:- “Section 45 (4): The profits or gains

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

Bench: S.SUJATHA,VINEET KOTHARI

4) Where any of the conditions laid down in the proviso to clause (xiiib) of section 47 are not complied with, the amount of profits or gains arising from the transfer of such capital

KIDS CLINIC INDIA PRIVATE LIMITED

Bench: KRISHNA S DIXIT

4) Where any of the conditions laid down in the proviso to clause (xiiib) of section 47 are not complied with, the amount of profits or gains arising from the transfer of such capital

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

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

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 the consideration received by - 3 - assessee towards sale of technical know-how was capital in nature of goodwill which is liable

ANTONY PARAKAL KURIAN vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeal is allowed in part

Bench: S.SUJATHA,S RACHAIAH

capital gain being charged to income-tax as income of the previous year in which the transfer took place, it shall be dealt with in accordance with the following provisions of this section, that is to say,— 16 xxxxxxx 54F. (1) Subject to the provisions of sub- section (4

PROF. P.N. SHETTY vs. OFFICE OF THE INCOME TAX OFFICER

Bench: The

Gains’ and shall be deemed to be income of the previous year in which the transfer took place. The proviso to sub-section (4) of Section 54F carves 7 out an exception to sub-section (4) of Section 54F of the said Act which deals with two contingencies - (i) where the amount deposited in Capital

THE PR COMMISSIONER OF INCOME TAX vs. SMT SAROJINI M KUSHE

Appeal stands dismissed

Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR

4) of section 45, the amount - 9 - chargeable to income-tax as income of such specified entity under that sub-section which is attributable to the capital asset being transferred by the specified entity, calculated in the prescribed manner: Provided…………….” 10. On combined reading of these provisions, any profits or gains

THE COMMISSIONER OF INCOME TAX vs. LATE KHOOBCHAND M MAKHIJA

The appeals are dismissed

Bench: N.KUMAR,RATHNAKALA

4. The substantial questions of law, which arise for consideration in these appeals, are as under: 1. Whether the Tribunal committed an error in holding that the assessee would be entitled to claim exemption under Section 54 of the Act in respect of two separate residential houses acquired out of the capital gains

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

The appeal is allowed in part

Bench: B.MANOHAR,DILIP B.BHOSALE

4. Whether the Tribunal was correct in holding that for the computation of capital gains arising on sale of equity shares of M/s.Recon Agro Tech Pvt Ltd., the loss under capital gains is to be computed by adopting cost of acquisition of Rs.0.10 per share when interse parties were interested persons and family members and the entire transaction

THE COMMISSIONER OF INCOME TAX vs. MRS SHAKUNTALA DEVI

Appeal is hereby dismissed

Bench: ARAVIND KUMAR,JAYANT PATEL

4 declaring her total income as ` 34,59,390/-. Assessment came to be reopened under Section 147 and in response to the notice issued under Section 148, reply came to be filed by the assessee stating thereunder that original return filed is to be treated as return filed in response to the notice issued under Section 148. Accordingly, assessment proceedings

THE COMMISSIONER OF INCOME TAX vs. BASAVESHWAR CO-OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. 16 Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. MINORITY CREDIT CO-OP. SOCIETY LTD.,

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. SHRI SIDDHESHWAR CO-OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. SHRI MAHATAMA BASAVESHWARA

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. BASAVESHWAR CO-OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. SHRI SHIVABODHARANGA URBAN CO-OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. THE ATHANI CO-OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society

THE COMMISSIONER OF INCOME TAX vs. SHRI BASAVESHWAR URBAN CREDIT SOUHARD SAHAKARI

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of business attributable to any one or more of such activities. Section 80P(4) which came to be introduced in the statute by the Finance Act, 2006, with effect from 1.4.2007, reads as under: 80P(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society