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

Bench: S.SUJATHA,VINEET KOTHARI

transfer of the reserves and surplus to the holding company by avoiding the payment of tax and therefore it will be treated as a colourable device. There are two aspects in this transaction- (i) It is a simple and plain transaction of buy back of shares without having any dispute of price then the same is beyond the scope

PR COMMISSIONER OF vs. M/S SOFTBRANDS INDIA

Bench: S.SUJATHA,VINEET KOTHARI

2) An appeal may lie under this section from an appellate decree passed ex- parte. Date of Judgment 25-06-2018 I.T.A.No.536/2015 C/w I.T.A.No.537/2015 Pr. Commissioner of Income Tax & Anr. Vs. M/s. Softbrands India P. Ltd., 35/80 (3) In an appeal under this section, the memorandum of appeal shall precisely state the substantial question of law involved

PR COMMISSIONER OF vs. M/S SOFTBRANDS INDIA

Bench: S.SUJATHA,VINEET KOTHARI

2) An appeal may lie under this section from an appellate decree passed ex- parte. Date of Judgment 25-06-2018 I.T.A.No.536/2015 C/w I.T.A.No.537/2015 Pr. Commissioner of Income Tax & Anr. Vs. M/s. Softbrands India P. Ltd., 35/80 (3) In an appeal under this section, the memorandum of appeal shall precisely state the substantial question of law involved

WIPRO LIMITED vs. THE JOINT COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mr. Justice Krishna S.Dixit Writ Petition No.20040/2019 (T-It) Between:

v) Impugned order 29.3.19 (ii) A careful analysis of the order of ITAT dated 4.1.2018 would reveal that the ITAT dealt with several issues differently, some having been remitted for reconsideration and the conclusions on other left intact; the same may be summarised as follows: On TP issue, following earlier order, issue was remitted to the file

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

V Aravind has submitted that the said section 147 is in two parts, which have to be read independently, and the phrase “such income” in the first part is with regard to which reasons have been recorded and the phrase “any other income” in the second part is with regard to where no reasons are recorded in the notice

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

Bench: S.SUJATHA,JAYANT PATEL

transferred to the appellant and till then the rights over the goods wrests with the end customer only. In-fact in the MLA as pointed out by the FAA and AA, the description of leased equipments are not forthcoming and the appellant is not aware of the goods to be leased till the purchase order is placed

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Transfer Pricing Officer for determination of arms’ length price. As per the return filed the tax payable was Rs.48,38,27,302/-. The assessee also claimed TDS of Rs.6,02,14,066/- and advance tax payment of Rs.59,50,80,000/-. The assessee claimed refund of Rs.17,12,21,725/-. The return of income was processed

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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Transfer Pricing Officer for determination of arms’ length price. As per the return filed the tax payable was Rs.48,38,27,302/-. The assessee also claimed TDS of Rs.6,02,14,066/- and advance tax payment of Rs.59,50,80,000/-. The assessee claimed refund of Rs.17,12,21,725/-. The return of income was processed

CHITTHARANJAN A DASANNACHARYA vs. THE COMMISSIONER OF INCOME TAX-V

In the result, the appeal is allowed

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

transfer of a long term capital asset under Section 2(47) of the Act? iv. The Hon'ble Tribunal was right in holding that the difference between the option/exercise price of the stock option and the fair market value of the shares on the date of exercise of the stock options by the Appellant would be taxable under the head

THE COMMISSIONER OF INCOME TAX vs. ING VYSYA BANK LTD

In the result, this appeal is allowed in part,

Bench: B.MANOHAR,D.V.SHYLENDRA KUMAR

v. CIT (1991)187 ITR 541, the above circular was withdrawn by the issue of Circular No.610, dt. 31.7.1991 (See Clarification 1). There have been representations from the Indian Banks’ Association to the effect that the Supreme Court in the case of Vijaya Bank Ltd. was concerned only with the claim for broken period interest and did not decide

R JANARDHANA BABU vs. THE MANAGING DIRECTOR

Accordingly, the writ petitions are allowed

Bench: The Hon’Ble Mr. Justice B. Veerappa

47 167. N Narayana s/o Muniswamiyappa, aged about 62 years, Working as pharma Assistant, Glaxosmithkline Pharmaceuticals Limited, Devanahalli Road, Off Old Madras Road, Bangalore-560049 168. K. Channigaraya, s/o Krishnachari, aged about 49 years, Working as Technician, Glaxosmithkline Pharmaceuticals Limited, Devanahalli Road, Off Old Madras Road, Bangalore-560049 169. S Shivanna, s/o C Rangappa, aged about 56 years, Working

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

The appeals are allowed; the impugned

Bench: SATISH CHANDRA SHARMA,R. NATARAJ

v. Commissioner of Income Tax, Mysore and another, passed in Civil Appeal No.3282/2008, decided on 14.1.2013. 12. Heard the learned counsel for the parties at length and perused the record. 13. The relevant statutory provisions which are necessary for adjudication of the present Income Tax Appeal are reproduced as under; 11 13.1 Section 32 of the Act of 1961 reads

THE PR. COMMISSIONER OF INCOME TAX vs. M/S GOLDMAN SACHS SERVICES PVT LTD

Bench: The Hon'Ble Mr. Justice V. Srishananda Civil Revision Petition No.29/2019 Between

47 YEARS, 2 . SRI AKASH RANKA S/O LATE MAHAVEER RANKA, AGED ABOUT 39 YEARS, ® 2 3 . SMT SAPNA KOTHARI D/O LATE MAHAVEER RANKA, AGED ABOUT 44 YEARS, ALL ARE RESIDING AT NO.H-7, 30TH CROSS, 5TH MAIN ROAD, JAYANAGAR, BANGALORE-560011. 4 . P MANJUNATH S/O P Y SHETTY, AGED ABOUT 52 YEARS, RESIDING AT NO.1282, 13TH CROSS, 2ND STAGE, INDIRANAGAR, BANGALORE

COMMISSIONER OF INCOME TAX vs. SHRI. VIKRAM REDDY

In the result, the fifth substantial question of

Bench: ALOK ARADHE,R. NATARAJ

2(47), 45(3), and relevant extracts of 47(xiii) Section 48 and 49(1)(e) read as under: (47) "transfer", in relation to a capital asset, includes,— (i) the sale, exchange or relinquishment of the asset ; or (ii) the extinguishment of any rights therein ; or 45 Capital Gains. (3) The profits or gains arising from the transfer

M/S SREE JAYALAKSHMI TEXTILES vs. M/S INTERNATIONAL ASSET RECONSTRUCTION

Bench: The Date Fixed For Sale Of Transfer & In Such Event The Secured Asset Shall Not Be Sold & That Once The Auction Sale Process Is Commenced & The Property Is Auctioned & Sold On The Date Fixed For Sale & The Sale In Favour Of The Highest Bidder Is Confirmed & 25%

V to these rules. (7) Where the immovable property sold is subject to any encumbrances, the authorised officer may, if he thinks fit, allow the purchaser to deposit with him the money required to discharge the encumbrances and any interest due thereon together with such additional amount that may be sufficient to meet the contingencies or further cost, expenses

M/S SREE JAYALAKSHMI TEXTILES vs. M/S INTERNATIONAL ASSET RECONSTRUCTION

Bench: The Date Fixed For Sale Of Transfer & In Such Event The Secured Asset Shall Not Be Sold & That Once The Auction Sale Process Is Commenced & The Property Is Auctioned & Sold On The Date Fixed For Sale & The Sale In Favour Of The Highest Bidder Is Confirmed & 25%

V to these rules. (7) Where the immovable property sold is subject to any encumbrances, the authorised officer may, if he thinks fit, allow the purchaser to deposit with him the money required to discharge the encumbrances and any interest due thereon together with such additional amount that may be sufficient to meet the contingencies or further cost, expenses

THE MANGALORE ELECTRICITY SUPPLY COMPANY LTD., vs. SRI A CHANDRASEKHAR

Bench: G.NARENDAR,P.N.DESAI

price fixed under any law, etc. 29. Deficiency of service is defined under Section 2(1)(g) of the Consumer Protection Act, 1986 in the following manner: “2. (1)(g) ‘deficiency’ means any fault, imperfection, shortcoming or inadequacy in the quality, nature and manner of performance which is required to be maintained by or under any law for the time

NOVO NORDISK INDIA PRIVATE LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 12 (2

Bench: S.SUJATHA

47-50, EPIP AREA, WHITEFIELD, BANGALORE-560066. ... PETITIONER [BY SRI NAGESWAR RAO, ADV. FOR SRI ARUN SRI KUMAR, ADV.] AND: 1. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 12 (2) NO.14/3, 4TH FLOOR, RASTOTHANA BHAVAN, (OPP.RBI), NRUPATHUNGA ROAD, BENGALURU-560 001. 2. THE COMMISSIONER OF INCOME TAX C.R.BUILDING, QUEENS ROAD, BANGALORE-560 001. …RESPONDENTS [BY SRI K.V.ARAVIND, ADV.) - 2 - THIS