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 asset or intangible asset or share or shares not charged under section 45

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 asset or intangible asset or share or shares not charged under section 45

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

4,500/- crores, respectively, from 01.07.2006; (iii) the application dtd. 08.08.2006 made to the National Highways Authority to invest in the Bonds, the entire sum of Rs.1,82,00,000/- being the amount of capital gains since there was no limitation over such an investment at that relevant point of time, was rejected for not furnishing the PAN number, though

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

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

45, in which the expression "capital asset" is used, excludes goodwill. The Hon'ble Court after referring to Sec.48 which provides the mode of computation of capital gain viz., deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset "the cost of acquisition of the capital asset ", held that

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

Bench: The

gains to tax as per sub-section (4) of Section 54F of the said Act. The effect of the impugned notice was that the unutilized amount (Rs.1,15,00,000/- minus Rs.21,32,470/-) after the expiry of three years from the date of transfer of the original capital asset was proposed to be subjected to tax under Section 45

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. M/S ASSOCIATED ELECTRONIC AND ELCTRICAL

The appeal stands dismissed

Bench: S.SUJATHA,VINEET SARAN

4(a) SC agrees and undertakes to grant a Non-assignable, non-transferable royalty- free and sole license (excepting licenses granted or that may be granted to SC’s wholly owned subsidiaries) to AEEI to use the trademark SHARP with the character and typeface as approved by SC, in India upon and in respect of the goods identified in Annexure

M/S. EVERGREEN HARDWARE STORES vs. THE ASSISTANT COMMISSIONER OF

Appeal is allowed

Bench: P.S.DINESH KUMAR,UMESH M ADIGA

section 45(4) are attracted when there has been no distribution or dissolution of the firm and consequently confirming the addition to an extent of Rs.68,86,826/- as short term capital gains

ANTONY PARAKAL KURIAN vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeal is allowed in part

Bench: S.SUJATHA,S RACHAIAH

4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a period of one year before or two years after

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, when the Section contemplates exemption in respect

PR COMMISSIONER OF INCOME TAX vs. M/S IND SING DEVELOPERS P LTD

The appeal is dismissed

Bench: B.V.NAGARATHNA,JAYANT PATEL

capital gains. For answering this a look at section 45(3) and Section 45(4) of the Act are necessary

PR COMMISSIONER OF WEALTH TAX-6 vs. M R KODANDRAM

Appeals stand dismissed

Bench: RAVI MALIMATH,ASHOK S.KINAGI

4) of section 45, the amount 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…………….” 12. On combined reading of these provisions, any profits or gains

THE COMMISSIONER OF INCOME TAX vs. MRS SHAKUNTALA DEVI

Appeal is hereby dismissed

Bench: ARAVIND KUMAR,JAYANT PATEL

4. Being aggrieved by the same, assessee preferred an appeal before the Commissioner of Income Tax (Appeals). Appellate authority held that there has been non-compliance of provision i.e., Section 54 of the Act and as such, assessee would not be entitled to claim deduction. Consequently, appeal filed by the assessee came to be rejected by affirming the order

THE COMMISSIONER OF INCOME TAX vs. M/S.GAYATHRI ENTERPRISES

Bench: B.MANOHAR,D.V.SHYLENDRA KUMAR

capital gains should be brought to tax in the year in which the dissolution of the firm takes place and not the year in which consequent to such dissolution the distribution of assets takes place as per Section 45[4

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 PR. COMMISSIONER OF INCOME TAX vs. MRS. VANAJA MATTHEN

The appeal is dismissed

Bench: This Court, Questioning The Order Dated 25.01.2017 In

4. Whether, on the facts and in the circumstances of the case and in law, the Tribunal has failed to appreciate the fact that the capital asset was acquired by the assessee under a Will on 30.10.2006 and therefore the cost inflation index for the year 2006 would be applicable in determining the cost of acquisition? 5. Whether

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

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

4. The assessee thereupon filed an appeal before the Commissioner of Income Tax (Appeals) on the issue with regard to set off, of brought forward business loss and validity of the notice under Section 6 148 of the Act. The Commissioner of Income Tax (Appeals) by an order dated 12.03.2008 dismissed the appeal preferred by the assessee. The assessee thereupon

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand