PR. COMMISSIONER OF INCOME TAX vs. SMT. G. LAKSHMI ARUNA

Bench: K.SOMASHEKAR,UMESH M ADIGA

b) of subsection 1 of Section 153A of the Act. 9. It is further contended that Tribunal erroneously set-aside the assessment order passed for the year assessment year 2011- 12 holding that there is no satisfaction recorded by the assessing officer of the searched person (153A) in the file of the said person ignoring the intention of legislature

PR. COMMISSIONER OF INCOME TAX vs. SHRI. GALI JANARDHANA REDDY

Bench: K.SOMASHEKAR,UMESH M ADIGA

b) of subsection 1 of Section 153A of the Act. 7.It is further contended that Tribunal erroneously set-aside the assessment order passed for the year assessment year 2011- 12 holding that there is no satisfaction recorded by the assessing officer of the searched person (153A) in the file of the said person ignoring the intention of legislature and even

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

disallowed on the ground that the DTAA with USA and Canada shows that the claim is admissible only for the taxes paid under Income Tax Act in India and Federal tax in USA and Canada. In coming to the said conclusion the authorities have failed to notice Section 91 of the Act. Statutorily the assessee would be entitled to deduction

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

disallowed on the ground that the DTAA with USA and Canada shows that the claim is admissible only for the taxes paid under Income Tax Act in India and Federal tax in USA and Canada. In coming to the said conclusion the authorities have failed to notice Section 91 of the Act. Statutorily the assessee would be entitled to deduction

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

13) of the Income Tax Act on 31.12.2013, determining total income at Rs.10,86,34,35,052/- by making various additions, which reads as under: Additional / Issues Rs. Transfer pricing adjustments 112,20,92,081/- Claim of bogus transportation expenses of iron ore 40% attributable towards illegal mining. 86,43,47,335/- Disallowance of expenses claimed under section 37(1

THE COMMISSIONER OF INCOME TAX (EXEMPTION) vs. CMR JNANADHARA TRUST

The appeals stand dismissed

Bench: S.G.PANDIT,K. V. ARAVIND

b), (c), (cc) and (d) of 13(3), have a substantial interest is involved, the embargo contained under Section 13(1)(c) of the Act would stand attracted. 7.3 Section 13(1)(c) mandates that, in the case of a Trust, if any part of its income or property is applied, directly or indirectly, for the benefit of the persons

M/S SAFINA HOTELS PRIVATE LIMITED vs. THE COMMISSIONER OF INCOME TAX

Appeal is allowed

Bench: S.SUJATHA,N.K.PATIL

disallowed the deduction towards the capital expenditure. In such circumstances, levying of penalty under Section 271(1)(c) of the Act is mandatory and authorities have no discretionary power to waive off the penalty, even if there is any technical error in issuing the notice, it cannot be turned down only on the technicalities. What could be inferred from

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

b) Whether the Tribunal was correct in holding that the assessment under Section 153C was valid despite there being no satisfaction recorded that the documents found during the search on 17.06.2008 were incriminating in nature and prima facie represented undisclosed income? c) Whether the Tribunal was justified in rejecting the contention of the appellant that proceedings under Section 153C ought

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

b) Whether the Tribunal was correct in holding that the assessment under Section 153C was valid despite there being no satisfaction recorded that the documents found during the search on 17.06.2008 were incriminating in nature and prima facie represented undisclosed income? c) Whether the Tribunal was justified in rejecting the contention of the appellant that proceedings under Section 153C ought

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

b) Whether the Tribunal was correct in holding that the assessment under Section 153C was valid despite there being no satisfaction recorded that the documents found during the search on 17.06.2008 were incriminating in nature and prima facie represented undisclosed income? c) Whether the Tribunal was justified in rejecting the contention of the appellant that proceedings under Section 153C ought

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

In the result, I proceed to pass the following:

Bench: The Hon’Ble Mr.Justice Aravind Kumar

13,72,23,231/- came to be disallowed. 24. Thus, an amount of ` 48,41,82,071/- out of deduction of ` 89,35,48,193/- claimed under Section 38 35(2AB) was disallowed and added to the income of the assessee. It has been held by the second respondent that the mandate of the prescribed authority is limited to certifying

COMMISSIONER OF INCOME TAX-III vs. M/S SYNDICATE BANK

The appeals are disposed of

Bench: ALOK ARADHE,RAVI V HOSMANI

disallowing an amount of Rs.192,53,21,426/- on reversal of interest pertaining to earlier years as deduction out of current years income and added back to interest on zero coupon bonds to the tune of RS.1,03,53,095/- along with other additions/disallowance in computation of regular income/book profit. It was held that as per section 36(1)(viia

PR. COMMISSIONER OF INCOME TAX-2 vs. M/S.J.J.GLASTRONICS PVT LTD

The appeal stands dismissed

Bench: S.SUJATHA,J.M.KHAZI

1), the authority shall pass an order, within a period of six months from the end of the month in which the application is received by it,- (a) making the amendment; or (b) refusing to allow the claim.” 8. Section 115JB of the Act is a complete code in itself. The controversy relating to disallowance under Section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S NIRANI SUGARS LTD.,

In the result, the impugned orders passed by

Bench: ALOK ARADHE,P.G.M.PATIL

disallowance of depreciation. The assessee thereupon approached the Income Tax Appellate Tribunal. The Tribunal, by an order dated 19.02.2015 has allowed the appeal preferred by the assessee and set aside the order of the Commission of Income Tax (Appeals). The Assessing Officer was further directed to allow depreciation as per Appendix I at the higher rates. The Tribunal, inter alia

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S NIRANI SUGARS LTD.,

In the result, the impugned orders passed by

Bench: ALOK ARADHE,P.G.M.PATIL

disallowance of depreciation. The assessee thereupon approached the Income Tax Appellate Tribunal. The Tribunal, by an order dated 19.02.2015 has allowed the appeal preferred by the assessee and set aside the order of the Commission of Income Tax (Appeals). The Assessing Officer was further directed to allow depreciation as per Appendix I at the higher rates. The Tribunal, inter alia

COFFEEDAY GLOBAL LTD. vs. ADDITIONAL COMMISSIONER OF INCOME TAX

In the result, the orders dated 21

Bench: ALOK ARADHE,ASHOK S.KINAGI

b) and Section 80-IE(2)(ii) where the expression 'expansion' is used and 'substantial expansion' is defined as increase in investment in plant and machinery by a specified percentage of book value of plant and machinery. In Section 35D(1)(ii) and proviso to Section 36(1)(iii) (prior to its amendment in the year 2015), the 23 legislature

COFFEEDAY GLOBAL LTD. vs. ADDITIONAL COMMISSIONER OF INCOME TAX

In the result, the orders dated 21

Bench: ALOK ARADHE,ASHOK S.KINAGI

b) and Section 80-IE(2)(ii) where the expression 'expansion' is used and 'substantial expansion' is defined as increase in investment in plant and machinery by a specified percentage of book value of plant and machinery. In Section 35D(1)(ii) and proviso to Section 36(1)(iii) (prior to its amendment in the year 2015), the 23 legislature

PR. COMMISSIONER OF INCOME TAX vs. M/S AMALGAMATED BEAN COFFEE TRADING CO LTD

In the result, the orders dated 21

Bench: ALOK ARADHE,ASHOK S.KINAGI

b) and Section 80-IE(2)(ii) where the expression 'expansion' is used and 'substantial expansion' is defined as increase in investment in plant and machinery by a specified percentage of book value of plant and machinery. In Section 35D(1)(ii) and proviso to Section 36(1)(iii) (prior to its amendment in the year 2015), the 23 legislature