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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

29. The memorandum explaining provisions in the Finance Bill 2003 reads as follows: “Double Taxation Avoidance Agreements- extending the scope to include agreements for developing mutual trade and investment Under the existing section 90, the Central Government may enter into an agreement with the Government of any country outside India for granting of relief in respect of income on which

THE COMMISSIONER OF INCOME TAX vs. M/S CHESLIND, TEXTILES LTD

The appeal stands allowed

Bench: B.MANOHAR,N.KUMAR

depreciation and correctly determine deduction allowable under Section 10B in the assessing order. Aggrieved by the same, the assessee had preferred an appeal. 3. The Tribunal held that Assessing Officer had adopted one of the permissible views and such an order cannot be said to be erroneous in view of the decision of the Apex Court in the case

THE COMMISSIONER OF vs. THE KARNATAKA STATE

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

10 - application of income under section 11 in the past years? In the case of CIT v. Munisuvrat Jain [1994] Tax LR 1084 (Bom) the facts were as follows: The assessee was a charitable trust. It was registered as a public charitable trust. It was also registered with the Commissioner of Income- tax, Pune. The assessee derived income from

M/S SANKHLA POLYMERS (P) LTD vs. THE INCOME TAX OFFICER WARD-12(2)

In the result, the appeal relating to the assessment

Bench: D.V.SHYLENDRA KUMAR,B.SREENIVASE GOWDA

10 or section 10A or section 10B or section 11 or section 12 apply, if any such amount is credited to the profit and loss account; or (iii) the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account. Explanation – For the purposes of this clause – (a) the loss shall not include depreciation

M/S J K INDUSTRIES LTD vs. THE JOINT COMMISSIONER OF INCOME TAX

In the result, all questions are answered against the

Bench: D.V.SHYLENDRA KUMAR,B.SREENIVASE GOWDA

29. Income from profits and gains of business or profession, how computed. The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43D. 9. What is pointed out is that the computation is as per the provisions of Sections 30 to 43D of the Act also figuring in Chapter

THE DIRECTOR OF INCOME TAX vs. M/S. KRUPANIDHI EDUCATION

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34. In that matter

THE COMMISSIONER OF INCOME-TAX vs. M/S AGRICULTURAL PRODUCE MARKET COMMITTEE

Bench: S.SUJATHA,VINEET KOTHARI

10. The above examination of the relevant provisions of the Act brings home the point that the IT Act has not provided any separate set of Rules for computing the income of an assessee claiming exemption u/s.11 of the IT Act, 1961. 11. When the Act has not provided any set of Rules for computing the income of an assessee

THE PR.COMMISSIONER OF INCOME TAX, CIT (A) vs. M/S AGRICULTURAL PRODUCE MARKET COMMITTEE

Bench: S.SUJATHA,VINEET KOTHARI

10. The above examination of the relevant provisions of the Act brings home the point that the IT Act has not provided any separate set of Rules for computing the income of an assessee claiming exemption u/s.11 of the IT Act, 1961. 11. When the Act has not provided any set of Rules for computing the income of an assessee

DIRECTOR OF INCOME TAX (EXEMPTIONS) vs. M/S INTERNATIONAL INSTITUTE OF INFORMATION

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34. In that matter

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

In the result, the appeals are partly allowed

Bench: B.MANOHAR,DILIP B.BHOSALE

10(2)(xv) of the I.T.Act? in paragraph three of the judgment observed thus: 20 “3.Considering the matter apart from the authorities, it seems to us impossible that the expenditure could be revenue expenditure. It was clearly not incurred for the purpose of carrying on the concern but it was incurred in setting up the concern with a greater advantage

PR.COMMISSIONER OF vs. M/S SACKHUMVIT TRUST

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and Date of Judgment 14 -08-2018 I.T.A.No.394/2018 Pr. Commissioner of Income Tax, Exemptions & another Vs. M/s Sackhumvit Trust 8/22 machinery owned

PR COMMISSIONER OF INCOME TAX vs. ISLAMIC ACADEMY OF GENERAL EDUCATION

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and Date of Judgment 14 -08-2018 I.T.A.No.960/2017 Pr. Commissioner of Income Tax & another Vs. Islamic Academy of General Education 7/21 machinery owned

PR COMMISSIONER OF INCOME TAX vs. ISLAMIC ACADEMY OF GENERAL EDUCATION

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee Date of Judgment 14-08-2018 I.T.A.No.958/2017 Pr. Commissioner of Income Tax & Another Vs. Islamic Academy

PR COMMISSIONER OF INCOME TAX vs. ISLAMIC ACADEMY OF GENERAL EDUCATION

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee Date of Judgment 14 -08-2018 I.T.A.No.964/2017 Pr. Commissioner of Income Tax & Another Vs. Islamic Academy

PR COMMISSIONER OF INCOME TAX (CENTRAL) vs. M/S CHALASSANI EDUCATION TRUST

Appeal is dismissed

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34. In that matter

COMMISSIONER OF INCOME TAX vs. M/S. ACADEMY OF LIBERAL

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34. In that matter

COMMISSIONER OF vs. M/S RASTHROTHANA

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34. In that matter

PR COMMISSIONER OF INCOME TAX (E) vs. M/S B S & G FOUNDATION

Bench: S.SUJATHA,VINEET KOTHARI

29 provides that income from profits and gains of business shall be computed in accordance with section 30 to section 43C, That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34. In that matter