COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

capital assets enumerated therein. It may appear intriguing on the part of the assessee as to why it does not claim the benefit of deduction from its taxable income, but the choice is clearly its. Where the assessee does not want the benefit, it cannot be thrust upon it. There is no provision which makes it compulsory on the part

THE COMMISSIONER OF INCOME TAX JAIPUR vs. PRAKASH CHAND LUNIA (D) THR LRS

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

112(AP) and not agreed with the decision of the Bombay High Court in the case of J.S. Parkar vs. VB Palekar, (1974 94 ITR 616 (Bom). It is to be noted that in all the aforesaid three cases which were relied upon by the Revenue in the case of Piara Singh (supra) were found to be involved in legitimate

COMMNR. OF INCOME TAX, MUMBAI vs. M/S. GENERAL INSURANCE CORPN.OF INDIA

Section 81 of the Indian Companies Act, - "When a company prospers and accumulates a large surplus it converts this surplus into capital and divides the capital among its members in proportion to their rights. This is done by issuing fully paid shares representing the increased capital. The shareholders to whom the shares are allotted have to pay nothing. The purpose

BAJAJ TEMPO LTD. BOMBAY vs. COMMISSIONER OF INCOME TAX,BOMBAY CITY-IIIBOMBAY

Accordingly succeed and are allowed

gains derived from any industrial undertaking to which this section ap- plies as do not exceed six percent per annum on the capital employed in the undertaking, computed in accordance with such rules as may be made in the behalf by the Central Board of Revenue. (2) This section applies to any industrial under- taking which (i) is not formed

INCOME TAX OFFICER vs. CH. ATCHAIAH

The appeal is allowed

capital gain in the hands of such Association of Persons. The respondent and Kondal Reddy raised certain objections to the proposed assessment but finding that the Income Tax Officer was inclined to proceed with the assessment, they approached the Andhra Pradesh High Court by way of a writ petition questioning the aforesaid notice dated February 19, 1972. The main contention

ENGINEERING ANALYSIS CENTRE OF EXCELLENCE PRIVATE LIMITED vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

section 30 of the Copyright Act, which transfers an interest in all or any of the rights contained in sections 14(a) and 14(b) of the Copyright Act, but is a “licence” which imposes restrictions or conditions for the use of computer software. Thus, it cannot be said that any of the EULAs that we are concerned with

COMMISSIONER OF INCOME-TAX, MADRAS vs. R.M. CHIDAMBARAM PILLAI ETC

gains liable to tax. The respondents were partners in firms which owned tea estates, the composite income of which consisted largely of agricultural and partly of nonagricultural income. In addition to their share in profits, the respondents were entitled to salaries. Rejecting the contention of the respondents that only 40% of the salaries which fell within the non-agricultural income

M/S KHODAY DISTILLERIES LTD. vs. COMMISSIONER OF INCOME TAX

112. The relevant portion of which reads as under: “…The issuance of bonus shares was nothing but mere capitalisation of the profits of the Company in respect of which certificates are issued to the shareholders entitling them to participate in the amount of the reserve but only as part of the capital. The mechanism and effect of issuance of bonus

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. AHMEDABAD URBAN DEVELOPMENT AUTHORITY

Bench: HON'BLE THE CHIEF JUSTICE

Section 12AA(1) of the IT Act, on 18.05.1979 and is engaged in the activity of promotion of the export of all kind of ready-made garments, knitwear, and garments made of leather, jute and hemp. It does not per se engage in any activity for profit, and its mandate is to ensure that Indian apparel manufacturers, are given forums

PRINCIPAL DIRECTOR OF INCOME TAX (INVESTIGATION) vs. LALJIBHAI KANJIBHAI MANDALIA

The appeal is allowed and the order passed by the High

Bench: HON'BLE MR. JUSTICE HEMANT GUPTA

capital. The allegation against the company is in relation to cash deposits of total 6 Rs.13,79,10,500/- soon after demonetization on 08.11.2016. The satisfaction note prepared by DDIT (Investigation), Unit-1, Jalpaiguri was approved by Additional Director of Income Tax (Investigation) Unit- 5, Kolkata and further approved by DGIT (Investigation), Kolkata on 07.08.2018. The High Court also quoted