NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY vs. CHIEF COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ASHOK BHUSHAN

142 of the Income Tax Act dated 29.08.2005. The appellant also challenged notice dated 31.08.2005 issued under Section 131 to the 4 Bankers of the appellant. Notice dated 21.09.2005 under Section 194A was also sought to be quashed. The writ petition was contested by the Income Tax Department. The High Court in the writ petition decided the only question “whether

M/S. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

Bench: This Court & On Leave Being Granted, Civil Appeals Have Been Registered. 3.

142 or having made a return fails to comply with all the terms of a notice issued under sub-section (2) of Section 143, the assessing officer after taking into account all relevant materials and after giving the assessee an opportunity of being heard make the 29 assessment to the best of his judgment and determine the sum payable

KILLICK NIXON LTD., MUMBAI vs. DEPUTY COMNR. OF INCOME TAX,MUMBAI

In the result, we allow the appeal, set aside the judgment of the High

142(1) of the Income Tax Act, 1961 (hereinafter referred to as ’the Act’) The brief facts necessary to decide this appeal are as under: On 26th February, 1993 the appellant filed its return for assessment year 1992-93 and followed it up with a revised return. The Assessing Officer made an order dated 27th March, 1995 under Section

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

capital or revenue receipt. This additional issue has been raised in Civil Appeal No.9917 of 2017 (Assistant Commissioner of Income Tax Vs. M/s Godawari Power and Ispat Pvt. Ltd.) and also in Civil Appeal No.8983 of 2017 (Assistant Commissioner of Income Tax Chhattisgarh Vs. M/s Godawari Power and Ispat Pvt. Ltd.) RECOMPUTATION OF DEDUCTION UNDER SECTION

PR. COMMISSIONER OF INCOME TAX vs. MARUTI SUZUKI INDIA LIMITED

Bench: HON'BLE THE CHIEF JUSTICE

capital of other company which remains in existence and continues its undertaking but the context in which the term is used may show that it is intended to include such an acquisition. See: Halsbury's Laws of England (4th edition volume 7 para 1539). Two companies may join to form a new company, but there may be absorption or blending

COMMISSIONER OF INCOME TAX 8 MUMBAI vs. GLOWSHINE BUILDERS AND DEVELOPERS PVT. LTD. MANAGING DIRECTOR

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

142(1). The assessee was requested to explain as under: ­ (i) “You   are   aware   that   perusal   of   AIR information,   copy   of   'Development Agreement'   dt.   06.05.2008   revealed that   you   had   entered   into "Development   Agreement"   with   M/s. Kirit   City   Homes   Mau,   Pvt.   Ltd   in respect of various properties as detailed in the said agreement. It is also seen that   you   had   received

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

142 (SC). Under the Finance Act, 1951, a provision was enacted to discourage the declaration of dividend disproportionate to the declared income. It provided that where the "total income" exceeded the dividend by a certain amount, a rebate would be allowed, and where the dividend exceeded the "total income" by such amount, "an additional income tax" would be levied

PR. COMMISSIONER OF INCOME TAX 6 vs. KHYATI REALTORS PVT. LTD

The appeal is allowed, in the above terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

142(1) of the Act, calling for various details. The assessee filed its response thereto. The scrutiny assessment was completed by the AO under Section 143(3) on 30.12.2011, determining the total income of the assessee at ₹ 87,880/-. The assessee contended that an amount of ₹ 10 crores was deposited with one M/s C. Bhansali Developers Pvt. Ltd. towards acquisition

PRAKASH NATH KHANNA vs. COMMNR OF INCOME TAX

gains" and claims that the loss or any part thereof should be carried forward under sub-section (1) of Section 72, or sub-section (2) of Section 73, or sub-section (1) or sub- section (3) of Section 74, or sub- section (3) of Section 74A, he may furnish within the time allowed under sub-section

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

Gains (LTCG) in the shares of Shri Ganesh Spinners Limited (now known as Yantra Natural Resources Limited) from Shirish Chandrakant Shah (SCS) through Pradip Birewar. Pradip Birewar is an Ahmedabad based accommodation entry provider who is facilitating one time and other accommodation entries including LTCG entries to various clients on receipt of cash. He is facilitating these entries through bigger

MANSAROVAR COMMERCIAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX DELHI

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

142(1) and 143(2) of the Act were issued for the first time in 1998 and were time barred is rejected. (viii) On merits there were sufficient grounds for exercising the power under Section 148 of the Act. (ix) The ITAT's conclusion that the interest under Sections 234 A and 234 B of the Act could

THE INCOME TAX OFFICER, vs. URBAN IMPROVEMENT TRUST

The appeals are allowed

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

142(1) of the Income Tax Act, 1961 (hereinafter referred to as “I.T. Act”) was issued dated 01.08.2005 requiring the assessee to file a return for the assessment year 2003- 2004. A reply was submitted on behalf of the assessee that Urban Improvement Trust – the assessee is a municipality within the meaning of Article 243P of the Constitution of India

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

K.M. SHARMA vs. INCOME TAX OFFICER, WARD 13(7),NEW DELHI

The appeal is allowed

capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis. 4. The appellant through counsel sent a letter dated 17.9.1993 informing the ITO that he had received interest amount of Rs.76,84,829/- and interest accrued from year to year was assessable in each year. Year-wise break

M/S APEX LABORATORIES P. LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX LARGE TAX PAYER UNIT II

The appeal is dismissed without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

142(1) of the IT Act, to explain why the expenditure of ₹ 4,72,91,159/- incurred towards gifting freebies such as hospitality, conference fees, gold coins, LCD TVs, fridges, laptops, etc. to medical practitioners for creating awareness about the health supplement ‘Zincovit’, should not be added back to the total income of Apex. 4. The reason for only

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

M/S. I.C.D.S. LTD. vs. COMMISSIONER OF INCOME TAX

The appeals are allowed; the impugned

capital asset and thereby losing gradually investment caused by wear and tear, and would need to replace the same by having lost its value fully over a period of time.” 3 (1999) 7 SCC 106 16 Page 17 JUDGMENT 21. Black’s Law Dictionary (6th Edn.) defines 'owner' as under: “Owner. The person in whom is vested the ownership, dominion

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