SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

56 yrs, S/o Narayanappa # 101, Divyashree Residency H D Devegowda Road R T Nagar, Bangalore 32 Appellant (By Sri A Shankar, Adv. for Sri V S Yogesh Kumar, Adv.)) And 1 Income Tax Officer Ward 8(2), Bangalore 82 2 Commissioner of Income Tax Appeals II, Bangalore 82 Respondents (By Sri E Sanmathi Indrakumar, Adv.) Appeal is filed under S.260

M/S T T K PRESTIGE LTD vs. THE UNION OF INDIA REPTD BY ITS FINANCE SECRETARY

Bench: The Hon’Ble Mr.Justice P.B. Bajanthri W.P. No.26037/2005 C/W W.P.No.4464/2007 & W.P.No.27087/2005(It)

56 equity and taxation are often strangers, the Court should attempt that they do not remain always so. 4. Learned Advocate appearing for the revenue has submitted that, the section as it stands, does not require a reading down. Chapter XII-H has to be read as a whole. There is no justification in the apprehension that the first petitioner

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

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

Section 14, 28, 41(2), 45(1), 56(1), 72 and 74(1) of the Act, which read as under: 14. Heads of income Save as otherwise provided by this Act, all income shall, for the purposes of charge of income- tax and computation of total income, be classified under the following heads of income:- A.- Salaries. B.-] C.- Income

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

Bench: S.SUJATHA,VINEET KOTHARI

gains arising to such shareholder or the holder of other specified securities, as the case may be, in the year in which such shares or other specified securities were purchased by the company. Explanation: For the purposes of this section, “specified securities” shall have the meaning assigned to it in Explanation to section 77A of the Companies

THE COMMISSIONER OF INCOME TAX vs. M/S.KURUHINSHETTY URBAN CO- OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

ANTONY PARAKAL KURIAN vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeal is allowed in part

Bench: S.SUJATHA,S RACHAIAH

2. The assessee, a salaried person working in M/s IGUS India Private Limited, had filed a return of income showing the capital gains for the assessment year under consideration. CLAIM OF THE ASSESSEE: 3. During the relevant assessment year, the assessee had sold the land of Angamaly, Kerala [original asset] to M/s. Fashion Jewellery vide sale deed dated

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

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

THE COMMISSIONER OF INCOME TAX vs. SHRI MAHATAMA BASAVESHWARA

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

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

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

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

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

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

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

THE COMMISSIONER OF INCOME TAX vs. DR.PRABHAKAR KORE CREDIT SOUHARD

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

THE COMMISSIONER OF INCOME TAX vs. SHANKARLING CO-OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

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

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

THE COMMISSIONER OF INCOME TAX vs. SHRI BRAMHANATH CREDIT SOUHARD

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

THE COMMISSIONER OF INCOME TAX vs. CHIKODI TALUKA SHREE SARASWATI SOUHARD

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

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

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have

THE COMMISSIONER OF INCOME TAX vs. BRAMHANATH CO-OPERATIVE CREDIT SOUHARD

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

2 (24 (vii a) of the IT Act, which requires the inclusion of profits and gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have