THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. SMT.GRACY BABU,

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

21 :: 11.7 In the case of Cadell Weaving Mill Co. (P.) Ltd. (273 ITR 1), the argument before the Supreme Court was arising out of the return of income of the assessee. The amount received by the asessee on surrender of tenancy right, whether liable to capital gains under section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

21 :: 11.7 In the case of Cadell Weaving Mill Co. (P.) Ltd. (273 ITR 1), the argument before the Supreme Court was arising out of the return of income of the assessee. The amount received by the asessee on surrender of tenancy right, whether liable to capital gains under section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

21 :: 11.7 In the case of Cadell Weaving Mill Co. (P.) Ltd. (273 ITR 1), the argument before the Supreme Court was arising out of the return of income of the assessee. The amount received by the asessee on surrender of tenancy right, whether liable to capital gains under section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S. APOLLO TYRES LTD

Appeal is allowed in part as indicated

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

gain for adjustment against cost of assets as per section 43A on actual payment restricted to : 4,72,34,591 6 Disallowance of claim of MTM loss on forward contract as deduction : 98,10,765 ITA No.44/2017 -5- 7 Disallowance of claim of prepaid expenses as deduction : 5,15,34,726 2.2 We have heard learned Counsel Mr Christopher Abraham

M/S.CARBON AND CHEMICALS (INDIA) LTD vs. THE COMMISSIONER OF INCOMETAX, KOCHI

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

capital receipt and not a business receipt. By virtue of the fiction enacted under Section 41(1) of the 1963 Act, the difficulty created by the decision in British Mexican Petroleum case was overcome. The provision now by a legal fiction makes the amount so received to be treated as profits and gains includable in the total income

THE MEENACHIL CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD. vs. THE INCOME TAX OFFICER

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

capital gains on the purchase of a residential house'. This has come up for interpretation in many cases as indicated below: • Vittal Krishna Conjeevaram vs. ITO (2013) 144 ITD 325 (Hyd) . ITA Nos.34 & 35 of 2018 & 25 & 27 of 2019 10 • CIT and Anor. Vs. D Ananda Basappa (2009) ITR 329 (Kar) • CIT vs. Smt. KG Rukumini Amma

M/S.KOTTAYAM CO-OPERATIVE AGRICULTURAL & RURAL DEVELOPMENT BANK LTD. vs. THE INCOME TAX OFFICER

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

capital gains on the purchase of a residential house'. This has come up for interpretation in many cases as indicated below: • Vittal Krishna Conjeevaram vs. ITO (2013) 144 ITD 325 (Hyd) . ITA Nos.34 & 35 of 2018 & 25 & 27 of 2019 10 • CIT and Anor. Vs. D Ananda Basappa (2009) ITR 329 (Kar) • CIT vs. Smt. KG Rukumini Amma

THE MEENACHIL CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD., vs. THE INCOME TAX OFFICER,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

capital gains on the purchase of a residential house'. This has come up for interpretation in many cases as indicated below: • Vittal Krishna Conjeevaram vs. ITO (2013) 144 ITD 325 (Hyd) . ITA Nos.34 & 35 of 2018 & 25 & 27 of 2019 10 • CIT and Anor. Vs. D Ananda Basappa (2009) ITR 329 (Kar) • CIT vs. Smt. KG Rukumini Amma

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

21 assessee is profit and gain of business or profession of the assessee. The permissible deductions or expenses available while computation of income from the business are covered by Sections 28 to 44 of the Act. Without doing business or any activity, passive receipt recognised in the books of accounts of assessee, cannot be treated as income

THE COMMISSIONER OF INCOME TAX, vs. PTL ENTERPRISES LIMITED,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

21 assessee is profit and gain of business or profession of the assessee. The permissible deductions or expenses available while computation of income from the business are covered by Sections 28 to 44 of the Act. Without doing business or any activity, passive receipt recognised in the books of accounts of assessee, cannot be treated as income

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

21 assessee is profit and gain of business or profession of the assessee. The permissible deductions or expenses available while computation of income from the business are covered by Sections 28 to 44 of the Act. Without doing business or any activity, passive receipt recognised in the books of accounts of assessee, cannot be treated as income

M/S.APOLLO TYRES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

21-04-2006.) 4. According to the assessee, the acquisition of Dunlop Tyre of South Africa enabled the parent company i.e; the assessee, to run its business more efficiently and effectively. The established distribution network of Dunlop, the advantages of acquiring the know-how of ultra-high-performance radial car tyres and easier access to raw materials at reduced costs