THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

Bench: B.MANOHAR,VINEET SARAN

79 of the Act would not be attracted. 20 19. Accordingly, we answer the first question in favour of the assessee and against the Revenue, and confirm the finding of the Tribunal in this regard. 20. Question No.2: This question relates to the entitlement of the assessee for grant of deduction under Section 35AB of the Act, in respect

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD

Bench: B.MANOHAR,VINEET SARAN

79 of the Act would not be attracted. 20 19. Accordingly, we answer the first question in favour of the assessee and against the Revenue, and confirm the finding of the Tribunal in this regard. 20. Question No.2: This question relates to the entitlement of the assessee for grant of deduction under Section 35AB of the Act, in respect

THE COMMISSIONER OF INCOME TAX vs. M/S KHIVRAJ MOTORS

Appeal is hereby dismissed;

Bench: ARAVIND KUMAR,VINEET SARAN

79,237/-, adopted the same for the purposes of arriving at the correct capital gains and accordingly made certain additions by adopting the value as indicated by the builder. Thereafter a tax demand was raised on the assessee, who being aggrieved by the said order of assessment filed an 5 appeal before the CIT (Appeals). Appellate Commissioner after having noticed

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

Appeals are dismissed

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

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

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

Appeals are dismissed

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

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

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

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

Appeals are dismissed

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

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

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

Appeals are dismissed

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

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

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

Appeals are dismissed

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

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

THE COMMR OF INCOME TAX vs. M/S NADATUR HOLDINGS AND INVESTMENTS PVT LTD

The appeal is dismissed

Bench: B.MANOHAR,K.SREEDHAR RAO

gain. The cost of acquisition of shares was treated as the cost at which the previous owner acquired the shares under Section 41(ii) of the Act. The respondent-company is not dealing with the shares business. The shares were treated as investment. He also relied upon some of the paragraphs in the judgment relied upon by the appellant

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

Appeal is allowed

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

Section 45(4) of the IT Act as long term Capital gains, is not sustainable. 13. It was argued by Shri. Shankar that by applying the same logic, the Assessing Officer has 4 (1984)17 Taxmann. 330 KAR (para 4) I.T.A No.201/2017 12 added short-term Capital gains at 30% on the building which was constructed on the plot owned

SMT Y MANJULA REDDY vs. THE INCOME TAX OFFICER

In the result, the appeal is disposed of

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Capital Gain of Rs.51,355/- to tax. 3. The assessment was completed under Section 143(3) of the Act. The Assessing Officer by an order dated 31.12.2010 inter alia held that the assessee has not purchased the asset, in respect of which the 5 claim under Section 54F of the Act has been made and the assessee without prejudice

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

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

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

PR.COMMISSIONER OF vs. M/S AGASTYA

Bench: S.SUJATHA,VINEET KOTHARI

79 are not applicable to the Trusts i.e., the assessee in the instant case?” 3. This Court in case of ‘Commissioner of Income Tax-III, Pune v. Rajasthan & Gujarati Charitable Foundation Poona’ [2018] 89 taxmann.com 127 [SC] with regard to allowability and Depreciation in the hands of Religious and Charitable Trust held as under: “5. Learned Counsel

COMMISSIONER OF INCOME vs. M/S C RAMAIAH REDDY

In the result, we do not find any merit in the appeal

Bench: ALOK ARADHE,M.NAGAPRASANNA

gains by invoking Section 45(2) of the Act. 3. The assessee preferred an appeal before the Commissioner of Income Tax (Appeals) on the ground that reopening of assessment is invalid since, no notice under Section 143(2) of the Act was issued. The Commissioner of Income Tax (Appeals) vide order dated 26.11.2010 inter alia held that assessee

PR. COMMISSIONER OF INCOME TAX vs. M/S. MEDICAL RELIEF SOCIETY OF SOUTH KANARA

Bench: S.SUJATHA,VINEET KOTHARI

79 of the Act are applicable to the charitable trust i.e., the assessee herein by following its earlier order even when the normal computation of income under respective heads as envisaged under Section 15 to 59 are not applicable to the computation of income in respect of Trusts as per Section 11, 12 and 13? 2. Whether on the facts

PR COMMISSIONER OF INCOME TAX vs. M/S MEDICAL RELIEF

Bench: S.SUJATHA,VINEET KOTHARI

79 of the Act are applicable to the charitable trust i.e., the assessee herein by following its earlier order even when the normal computation of income under respective heads as envisaged under Sections 15 to 59 are not applicable to the computation of income in respect of Trusts as per Sections 11, 12 and 13? 2. Whether on the facts