M/S. MARMON FOOD AND BEVERAGE TECHNOLOGIES INDIA vs. THE INCOME TAX OFFICER

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking

THE COMMISSIONER OF INCOME-TAX vs. M/S.GE INDIA TECHNOLOGY

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking

M/S. MARMON FOOD AND BEVERAGE TECHNOLOGIES INDIA vs. THE INCOME TAX OFFICER

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking

M/S. MARMON FOOD AND BEVERAGE TECHNOLOGIES INDIA vs. THE INCOME TAX OFFICER

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking

M/S. MARMON FOOD AND BEVERAGE TECHNOLOGIES INDIA vs. THE INCOME TAX OFFICER

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking

AZIM PREMJI TRUSTEE COMPANY PVT LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, I pass the following:-

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

depreciation allowance or any other allowance or deduction for such assessment year (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year). Explanation.—For the purposes of assessment or reassessment or recomputation under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment

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

Bench: S.SUJATHA,VINEET KOTHARI

41. On the other hand, the learned counsel for the Revenue, Mr. Aravind K.V. also with equal vehemence submitted that the entire argument of the learned counsel for the Assessee is fallacious and the huge pay-out under the cover of and in the name of buy-back of shares at a price far in excess of the normal price

HEWLETT PACKARD FINANCIAL SERVICES INDIA PRIVATE vs. THE STATE OF KARNATAKA

Bench: S.SUJATHA,JAYANT PATEL

depreciation not being claimed by the appellant on the leased equipments. Per contra, the appellant has submitted that it is an integrated transaction and not two independent transactions to fasten the tax liability and as the integrated transaction is in 13 the course of import falls under the purview of Section 5(2) of the CST Act and has given

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

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

41 of the Act. 12. Section 50B of the Act was inserted with effect from 01.04.2000. Subsequent to decision of V.C.Sreenivas Setty supra, the Legislature inserted Section 55[2][a] by the Finance Act, 1987 with effect from 01.04.1989 to bring the transfer of goodwill under the tax net. By the Finance Act, 1997 with effect from 01.04.1998, provisions

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

depreciation allowance, as the case may be, for the assessment year concerned (hereafter in Ss.148 to 153 referred to as the relevant assessment year). S.148: Issue of notice where income has escaped assessment: (1) Before making the assessment, reassessment or recomputation under S.147, the Assessing Officer shall serve on the assessee a notice requiring him to furnish within such period

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

Bench: B.MANOHAR,VINEET SARAN

41 and in this section, unless the context otherwise requires- (1) xxxx (2) “paid” means actually paid or incurred according to the method of accounting upon the basis of which the profits or gains are computed under the head “profits and gains of business or profession” (3) xxxxx (4) xxxxx (5) xxxxx (6) xxxxx Certain deductions to be only

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

Bench: B.MANOHAR,VINEET SARAN

41 and in this section, unless the context otherwise requires- (1) xxxx (2) “paid” means actually paid or incurred according to the method of accounting upon the basis of which the profits or gains are computed under the head “profits and gains of business or profession” (3) xxxxx (4) xxxxx (5) xxxxx (6) xxxxx Certain deductions to be only

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

Bench: B.MANOHAR,VINEET SARAN

41 and in this section, unless the context otherwise requires- (1) xxxx (2) “paid” means actually paid or incurred according to the method of accounting upon the basis of which the profits or gains are computed under the head “profits and gains of business or profession” (3) xxxxx (4) xxxxx (5) xxxxx (6) xxxxx Certain deductions to be only

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

Bench: B.MANOHAR,VINEET SARAN

41 and in this section, unless the context otherwise requires- (1) xxxx (2) “paid” means actually paid or incurred according to the method of accounting upon the basis of which the profits or gains are computed under the head “profits and gains of business or profession” (3) xxxxx (4) xxxxx (5) xxxxx (6) xxxxx Certain deductions to be only

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

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

41 Profits chargeable to tax. (2) Where any building, machinery, plant or furniture,— (a) which is owned by the assessee; (b) in respect of which depreciation is claimed under clause (i) of sub-section

M/S. KARNATAKA INSTRADE CORPORATION LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal is allowed in part

Bench: B.MANOHAR,VINEET SARAN

41 of the Act, notwithstanding the fact that the assessee was not carrying on any business during the relevant assessment year, the provision contained in sub-Section (2) of Section 32 become applicable and consequently, 28 the set-off has to be given for unabsorbed depreciation

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

41. In this connection, it is contended on behalf of the Revenue that if the income is chargeable to tax in India, then - 55 - only the assessee can have the benefit of tax credit in respect of the tax paid in foreign jurisdiction. In respect of exemption under Section 10A, the income derived is not included in the total income

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

41. In this connection, it is contended on behalf of the Revenue that if the income is chargeable to tax in India, then - 55 - only the assessee can have the benefit of tax credit in respect of the tax paid in foreign jurisdiction. In respect of exemption under Section 10A, the income derived is not included in the total income