RAJ PAL SINGH vs. COMMISSIONER OF INCOME TAX HARYANA

In the result, this appeal fails and is, therefore, dismissed

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

long-term capital gains arising on account of acquisition, on the basis of the amount of compensation allowed

SH. SANJEEV LAL ETC. ETC. vs. COMMISSIONER OF INCOME TAX CHANDIGARH&AN

term capital gain had arisen, but as the appellants had purchased a new residential house and the amount of the capital gain had been used for purchase of the said new asset, believing that the long

THE AUTHORITY FOR ADVANCE RULINGS (INCOME TAX) vs. TIGER GLOBAL INTERNATIONAL II HOLDINGS

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

long-term capital appreciation and investment income. The assessees are regulated by the Financial Services Commission3 in Mauritius and have been granted a Category I Global Business License4 under Section 72(6) of the Financial Services Act, 2007, enacted by the Parliament of Mauritius. 5.1. The business of the assessees, according to them, is wholly controlled and managed

M/S FIBRE BOARDS (P) LTD BANGALOARE vs. CIT BANGALORE

capital gains arising on transfer of long- term capital assets in the nature of machinery, plant, building

DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

Long Term Capital Gain is worked out as under : Less: Cost of acquisition as on 1.4.81 as per the Dept

NATIONAL COOPERATIVE DEVELOPMENT CORPORATION vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE PAMIDIGHANTAM SRI NARASIMHA

capital and cannot be treated as loans. The Court reasoned that a shareholder is not a creditor and cannot sue for debt; therefore, investments in redeemable preference shares do not satisfy the definition of "long-term finance" which requires a "loan or advance" with repayment of "interest." Thus, dividends derived from such shares are not deductible under Section

COMMNR. OF INCOME TAX, AHMEDABAD vs. EQUINOX SOLUTION PVT. LTD

Bench: HON'BLE MR. JUSTICE ABHAY MANOHAR SAPRE

long term capital gain" and "short term capital asset" and held that since the undertaking itself is a capital

DELHI FARMING & CONSTRUCTION(P) LTD. vs. COMMNR. OF INCOME TAX, DELHI

In the result, we set aside the judgment of the High Court and uphold the

long drawn litigation with regard to the compensation payable to the appellant. The appellant was awarded a sum of Rs. 7,64,787 as compensation towards the acquired land on which an amount of Rs. 2,94,844 became payable as interest. This amount of interest was paid on different dates during February 1973. Since the http://JUDIS.NIC.IN SUPREME COURT

PRINCIPAL COMMISSIONER INCOME TAX 4 BENGALURU 2 vs. M/S JUPITER CAPITAL PRIVATE LIMITED

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

Long Term Capital Loss as claimed by the appellant in the present case. It transpires that the appellant company invested in total equity share of Rs. 153340900/- at face value of (Rs. 10) on different dates, in its subsidiary company (ANNPL). The total number of shares of ANNPL was 153505750 out of which the assessee's shareholding

THE COMMISSIONER OF INCOME TAX 7 vs. M/S PAVILLE PROJECTS PVT LTD

Appeal is allowed

Bench: HON'BLE MR. JUSTICE M.R. SHAH

gains arising therefrom amounting to Rs.1,21,16,695/- as “long term capital gains” in the computation

COMMISSIONER OF INCOME TAX vs. BALBIR SINGH MAINI

The appeals are dismissed with no order as to

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

long term capital gain was, therefore, stated to be Rs.3,54,68,276/-. 8. The Commissioner (Appeals) dismissed

ADD. COMMISSIONER OF INCOME TAX vs. BHARAT V. PATEL

Accordingly, these are hereby dismissed leaving

Bench: The Commissioner Of Income Tax (Appeals) Being No. Cab/I­643/2000­2001. After Considering The Case, Learned Cit (Appeals), Vide Order Dated 28.03.2002, Dismissed The Appeal Of The Respondent After Comprehensively Discussing The Taxability Of The Alleged Amount & Upholding The Assessment Order Passed By The Assessing Officer. 2

Capital Gains’ means a profit from the sale of property or an investment. It may be short term or long

THE BANK OF RAJASTHAN LTD. vs. COMMISSIONER OF INCOME TAX

Appeals are dismissed

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

termed as the interest for the broken period. When the interest becomes due after the purchase of the security by the Bank, interest for the entire period is paid to the purchaser Bank, including the broken period   interest.     Therefore,   in   effect,   the   purchaser   of securities gets interest from a date anterior to the date of acquisition till the date

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL) CIRCLE 1(2) vs. M/S M.R. SHAH LOGISTICS PVT. LTD

Appeal is allowed in these terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

long term capital gains (LTCG) in the shares of Ganesh Spinners Ltd. from Shirish Chandrakant Shah. It was found

COMMISSIONER OF INCOME TAX vs. SAKARLAL BALABHAI & CO

The appeals are allowed

long term capital gains and sale of shares, the bonus shares ought have been valued at average cost

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

Capital gains-long 90,780,066 90,780,066 Gross Total Income 254,281,464 254,281,464 Less deduction under Chapter VI-A 80G-Donation 80HHC-profits 80-1A new industrial unit 1,500,000 6,590,600 11,322,409 1,500,000 6,590,600 11,322,409 Net Income

THE MAVILAYI SERVICE COOPERATIVE BANK LTD. vs. COMMISSIONER OF INCOME TAX CALICUT

Bench: Us, The Assessing Officer Denied Their Claims For Deduction, Relying Upon Section 80P(4) Of The It Act, Holding That As Per The Audited Receipt & 2

gains attributable to such activities as does not exceed,— 17 (i) where such co-operative society is a consumers’ co-operative society, one hundred thousand rupees; and (ii) in any other case, fifty thousand rupees. Explanation.—In this clause, “consumers’ co-operative society” means a society for the benefit of the consumers; (d) in respect of any income

M.M. AQUA TECHNOLOGIES LTD. vs. COMMISSIONER OF INCOME TAX, DELHI - III

Appeals are allowed in the aforesaid terms

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

terms and conditions of the agreement governing such loan or borrowing, or xxx xxx xxx shall be allowed (irrespective of the previous year in which the liability to pay such sum was incurred by the assessee according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year