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

COMMISSIONER OF INCOME TAX, DELHI vs. M/S WOODWARD GOVERNOR INDIA P. LTD

145 of the Income-tax Act, 1961 (“1961 Act”). In the second category of cases, we are concerned with exchange differences arising on repayment of liabilities incurred for the purpose of acquiring fixed assets. In other words, in the second category of cases, we are concerned with the assessee(s) incurring liabilities on capital account. In such cases

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

2) requires such profits or gains to be computed after making the allowances therein set out. Clause (vi) thereof speaks of allowances in respect of depreciation of buildings, machinery, plant, etc., and the proviso (a) to clause (vi) reads thus: "Provided that the prescribed particulars have been duly furnished". In proceedings for the Assessment Year 1955-56, the Income

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

Gains of Business or Profession”. Aggrieved, the assessee appealed. Before the appellate Commissioner (hereinafter, “CIT (A)”) the assessee reiterated the contents of a letter dated 05.12.2011 written to the AO as follows: “As part of our regular business activity, the company in order to purchase certain commercial premises had made reservation by way of bookings in the upcoming project

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

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

2. DESCRIPTION OF OTHER RIGHTS AND LIMITATIONS xxx xxx xxx Limitations on Reverse Engineering, Decompilation, and Disassembly - You may not reverse engineer, decompile, or disassemble the SOFTWARE PRODUCT, except and only to the extent that such activity is expressly permitted by applicable law nothwithstanding this limitation.” “4. COPYRIGHT- All title and intellectual property rights in and to the SOFTWARE PRODUCT

M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE

2(24) of the IT Act and added back while computing profits and gains of business under Sections 28 to 43D of the IT Act. In reply, the Department contended before us that the IT Act is a separate code by itself; that the taxable total income has to be computed strictly in terms of the provisions

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

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

145, 24 147, 148, 149 and 151 of the Act, both pre 01.04.1989 and post 01.04.1989. He submits that there was admittedly non-disclosure of material facts by the assessee, and, therefore, the extended period under the proviso to Section 147 of the Act was available to the department. Viewed in the above context, the notices issued under Section

M/S. ROTORK CONTROLA INDIA (P) LTD. vs. COMMNR. OF INCOME TAX, CHENNAI

Appeals stand allowed in favour of the assessee with no order as to

2 This provision was made by the assessee on account of warranty claims likely to arise on the sales effected by the appellant and to cover up that expenditure. It may be noted that since the provision made was for Rs.10,18,800/- which exceeded the actual expenditure, the appellant reversed Rs.5,00,246 as Reversal of Excess Provision. Consequently

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

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

gains of business or profession”. [Explanation 1].—For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made