TEA ESTATE INDIA (P) LTD. vs. COMMISSIONER OF INCOME-TAX

capital gain under section 12B of TT Co. for the assessment year 1949-SO, no other amount could be included in the computation of the accumulated profits available for distribution under section 2(6A) (c) of the Act. The Income-tax officer rejected this 149 contention and allowed only a deduction of Rs. 27,000 being payment on share premium

GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

capital gain is totally exempt, entire transaction used to escape the tax net. Thus to plug this loop hole in the statute, Section 115QA is introduced to provide that where shares are bought back at a price higher than the price at which those shares were issued then, balance amount will be treated as distribution of income to shareholder

COMMISSIONER OF INCOME TAXTAMIL NADU- vs. , MADRAS VS KOTAGIRI INDUSTRIAL CO-OPERATIVETEA FACTORY LTD., KOTAGIRI

150/-. The Income Tax Officer first set off the losses of previous years that had been carried forward against the income and since the losses were in excess of the income, he held that no deduction was permissible under Section 80-P of the Income Tax Act, 1961 (hereinafter referred to as ’the Act’). The said view of the Income

PR. COMMISSIONER OF INCOME TAX SHIMLA vs. M/S AARHAM SOFTRONICS

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

capital, in the assessment year relevant to the previous year. 16 “Substantial expansion” is defined in clause (ix) of sub-section (8) of Section 80-IC and it reads as under: "(ix) “Substantial expansion” means increase in the investment in the plant and machinery by at least fifty per cent of the book value of plant and machinery (before taking

GARDEN SILK WEAVING FACTORY, SURAT vs. COMMISSIONER OF INCOME TAX,GUJARAT, AHMEDABAD

In the result, appeals for both the assessment years

section 141 of the Act, was made accepting the income returned. Subsequently, the Income Tax Officer found that, for the assessment year in question, the assessee had made an income of Rs. 11,82,056 but deducted there-three figures aggregating to Rs.7,87,573 to arrive at the net income of Rs.3,94,483 which had been returned

UNIVERSAL RADIATORS, COIMBATORE vs. COMMISSIONER OF INCOME TAX, TAMIL NADU

150 1993 SCALE (2)393 ACT: Income Tax Act, 1961 : Sections 4 and 10(3). Assessee--Manufacturer of automobile radiators--Copper ingots booked from America--To be rolled in Bombay as and sheets and despatched to assessee for manufacture--Ship carrying goods seized by Pakistan--Insurance company paying value of goods in dollars--Devaluation of Indian rupee--The difference

COMMISSIONER OF INCOME-TAX(CENTRAL) vs. M/S. GWALIOR RAYON SILK MFG.(WVG.)CO.LTD

The appeal is partly allowed

Section 256(1) the High Court answered the question against the revenue. The High Court by order dated October 25, 1983 answered the question in favour of the assessee relying on its earlier decision reported in C.I.T. v. Bangalore Turf Club Ltd., (150 I.T.R. 23) Civil Appeal No. 1404 of 1991 The Commissioner of Income Tax ....Appellant . I.D.L. Chemicals

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

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

capital gains in a particular case may tantamount to a failure in raising a substantial question of law in terms of Section 260A of the Act. However, the same may not apply on interest as the interest is automatic and mandatory. 4.14 Making above submissions and relying upon the aforesaid decisions, it is prayed that the present appeals be dismissed

SAHARANPUR ELECTRIC SUPPLY CO. LTD. ETC. ETC. vs. COMMISSIONER OF INCOME-TAX ETC.ETC

150 I.T.R. 95 (Pat.); C.I.T. v. Lonawalla Khandalla Electric Supply Co.Ltd.,(1985) 22 Taxman 77 (Bom.); C.I.T v. Calcutta Electric Supply Corporation Ltd., [1987] 166 I.T.R. 797 (Cal); C.I.T. v. Bassein Electric Supply Co. Ltd., (1989) 177 I.T.R. 482 (Ker.); C.I.T. v. Calcutta Electric Supply Corporation Ltd. [1989] 179 I.T.R. 580 (Cal); and Ahmedabad Electricity Co. Ltd. v. C.I.T

COMMISSIONER OF INCOME TAX vs. UNITED PROVINCES ELECTRIC SUPPLY CO

In the result, appeal is allowed

gains from business or profession by virtue of deeming fiction, but the receipts do not become business profits. He, therefore, submitted that notional receipt of profit is in the nature of capital receipt and as there is no provision or procedure in the Act for taxing it again after receipt of additional http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page

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

2TATE BANK OF PATIALA, PATIALA vs. COMMISSIONER OF INCOME TAX, PATIALA

The appeals are allowed

150. The attempt to get the matter referred to the High Court was unsuccassful and so the assessee filed the special leave petition in this Court against tne order of the Appelate Tribunal. 5. All the 13 appeals involve conslderation of the same question between the same parties. So, they were heard together and are disposed of by this common

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

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, BOMBAYCITY II vs. SHAKUNTALA AND TWO OTHERS ETC

150 Nanalal Haridas and Tribhuvandas Haridas The Company was one in which the public were not substantially interested. For the assessment year 1949-50 the Income-tax Officer concerned applied the provisions of s. 23A of the Indian Income-tax Act, 1922 (as it stood previous to :the amendment of 1955) and ordered that the undistributed portion of the assessable