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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 154. Notice u/s 142(1) was issued on 21.12.2001 with a questionnaire. Further notices u/s 142 (1) were issued on various dates beginning from 7.10.2003 to 8.3.2004. The assessee- company filed written replies along with enclosures from time to time. The return furnished on 30.10.2001 was processed u/s 143(3) of the I.T.Act on 24.03.2004 and order was passed

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

Bench: K.SOMASHEKAR,UMESH M ADIGA

73,08,092 Tax thereon 14,60,43,427 Add:Education Cess @ 3% 43,81,302 Total tax 15,04,24,729 Less: TDS 28,20,543 Balance Tax 14,76,04,186 Less: Advance Tax 7,50,00,000 Balance Tax 7,26,04,186 Add: Interest u/s234A – 1,30,68,753 235B – 1

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

Bench: K.SOMASHEKAR,UMESH M ADIGA

73,08,092 Tax thereon 14,60,43,427 Add:Education Cess @ 3% 43,81,302 Total tax 15,04,24,729 Less: TDS 28,20,543 Balance Tax 14,76,04,186 Less: Advance Tax 7,50,00,000 Balance Tax 7,26,04,186 Add: Interest u/s234A – 1,30,68,753 12 235B – 1

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[f] to Section 115JB[2] of the Act clearly provides for addition of the expenditure relating to the exempt income while computing the book profit under Section 115JB of the Act?” 2. The respondent – assessee is engaged in the business of manufacturing of electron gun parts, glass to metal seals and machined components. Respondent – assessee has filed its return

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

1) of the Act. After clarification called for and on discussion with the assessee’s representative, draft assessment order dated 27.03.2013 came to be forwarded to the assessee wherein the income was proposed as against the loss returned in the return of income. On receipt of the draft assessment order, assessee filed its objections before the Dispute Resolution Panel

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

disallowed as it was not meant for management of construction, but on other expenses, such as advertisement, sales promotion etc. Therefore, the income had to be assessed under the head income from other sources. The Tribunal held that the income had to be assessed as business income and the assessee could not have received a sum of Rs.78.25 lakh without

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

disallowed as it was not meant for management of construction, but on other expenses, such as advertisement, sales promotion etc. Therefore, the income had to be assessed under the head income from other sources. The Tribunal held that the income had to be assessed as business income and the assessee could not have received a sum of Rs.78.25 lakh without

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

disallowed as it was not meant for management of construction, but on other expenses, such as advertisement, sales promotion etc. Therefore, the income had to be assessed under the head income from other sources. The Tribunal held that the income had to be assessed as business income and the assessee could not have received a sum of Rs.78.25 lakh without

THE COMMISSIONER vs. M/S VIJAYA BANK

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

73,177/-, which is exempt under various sub-Sections of Section 10 of the Act and disallowed the aforesaid amount in terms of Section 14A of the Act. A sum of Rs.3,43,28,658/- being 5% thereof was estimated as expenditure incurred for earning such income. 3. The assessee, thereupon, filed an appeal. The Commissioner of Income Tax (Appeals

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

Bench: S.SUJATHA,VINEET KOTHARI

disallowed the depreciation and the High Court affirmed the decision of the Tribunal. On appeal to the Supreme Court: Held, that under Section 254 (1) of the Income-tax Act, 1961, the Appellate Tribunal had no power to take back the benefit conferred by the assessing Officer or enhance the assessment. Since the Assessing Officer had granted depreciation in respect

XIAOMI TECHNOLOGY INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, I pass the following:

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

disallowed. On 10.08.2022, petitioner submitted a detailed response along with documents and contested the said Notice and proceedings. - 6 - 2.3 On 11.08.2022, upon obtaining approval from the 3rd respondent, the 1st respondent passed the impugned order under Section 281B of the I.T.Act provisionally attaching the subject fixed deposits of the petitioner in a sum of INR 3,700 crores

M/S CANARA BANK BSCA SECTION vs. THE ASST COMMISSIONER OF INCOME TAX CIRCLE-11(2)

Bench: N.KUMAR,RATHNAKALA

1] on 26.11.2001 which was received by the assessee on the same day. The assessee had claimed disallowance under section 14A of the Act in a sum of Rs.16,50,00,000/-. The assessee had claimed the following income as exempt under section 10 of the Act. - 6 - [a] Dividends u/s. 10[33] Rs. 52,00,27,446/- [b] Interest

THE PR. COMMISSIONER OF INCOME TAX vs. M/S CISCO SYSTEMS

The appeals are allowed; the impugned

Bench: SATISH CHANDRA SHARMA,R. NATARAJ

disallowed the excess depreciation claimed on networking equipments. 3. The Principal Commissioner of Income Tax, Bengaluru, thereafter issued a notice under Section 263 of the Act of 1961 on 5.3.2015 and called upon the assessee to explain as to why the assessment order passed by the assessing officer under Section 143(3) of the Act of 1961 should

THE COMMISSIONER OF INCOME TAX vs. M/S MARUTI SUBRAY PATIL

The appeal stands disposed of in the above terms

Bench: The Hon’Ble Mr.Justice Ravi Malimath & The Hon’Ble Mr.Justice G. Narendar

1) of section 200:” 19. A perfunctory reading of the provisions of Section 194C of the Act obviates the necessity for any interpretational exercise as the provisions are unambiguous. A reading of the provisions of Section 194C mandates that any person who is involved in executing any contract or carrying out any work under a contract between any individual

THE COMMISSIONER OF INCOME TAX vs. M/S QUEST GLOBAL ENGINEERING SERVICES PVT. LTD.,

In the result, we don to find any

Bench: ALOK ARADHE,R. NATARAJ

1. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in deleting the disallowances made by Assessing Officer on provision of loss on derivative contracts without appreciating that the provision for loss cannot be allowed when the actual sales had not even taken place and maturity date of the derivatives contracts

M/S MYSORE POLYMERS & RUBBER PRODUCTS LTD vs. THE COMMISSIONER OF COMMERCIAL TAXES

In the result, writ appeal No

Bench: D.V.SHYLENDRA KUMAR,B.S.INDRAKALA

1 of Part `K'] of the Second Schedule, the sale by one oil company to another oil company shall not be deemed to be a sale by the first or the earliest of successive dealers in the State but the sale by the latter company to another person not being an oil company shall be deemed to be the sale

PR COMMISSIONER OF INCOME TAX vs. M/S ENNOBLE CONSTRUCTION

Bench: KRISHNA S.DIXIT,P.KRISHNA BHAT

73 - 8 - ITA No. 383 of 2016 Tax Tribunal], if the High Court is satisfied that the case involves a substantial question of law.” (Other sub-sections not being much relevant are not reproduced) Appeal lies only if the case involves a substantial question of law, which the memorandum of appeal, ideally speaking, has to precisely state. However

THE COMMISSIONER OF INCOME TAX vs. M/S JINDAL ALUMINIUM LIMITED

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

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

disallowance under Section 14A of the Act in respect of Rs.14,40,470/- to the Assessing Officer. In the aforesaid factual background, the revenue is in appeal before us. 3. Learned counsel for the revenue submitted that Section 80IA(1) of the Act is applicable to eligible business and all profit making and loss making units have to be aggregated