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  cannot  be  said  to  arose  to  the Respondent since there was no consideration paid as the cost of acquisition by the Respondent. It was also submitted that such   amount   received   on   account   of   redemption   of   Stock Appreciation Rights could have been taxed if at all under the provisions   of   Clause   (iiia)   of   Section

DEPUTY COMMISSIONER OF INCOME TAX vs. M/S. CORE HEALTH CARE LTD

167, inter alia, on the ground that during the assessment year under consideration assessee had installed new machinery on which production had not started. On appeal, vide order dated 15.11.96, CIT (A) confirmed the addition of interest amount on borrowings of Rs.1,56,76,000. Therefore, both the authorities, namely, the A.O. and CIT (A) added the said amount

SHARP BUSINESS SYSTEM THR. FINANCE DIRECTOR MR. YOSHIHISA MIZUNO vs. COMMISSIONER OF INCOME TAX-III N.D

The appeals are hereby disposed of in terms of

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

gains of business or profession’ subject to fulfillment of the following conditions: (i) if the expenditure does not fall within the ambit of Sections 30 to 36 of the Act; (ii) if the expenditure has been incurred in the accounting year relevant to the assessment year under consideration; 22 (iii) it should be expended wholly and exclusively for the purpose

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

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

capital gains as required under section 71. Be that as it may, I have no hesitation in saying that if it were a pure question of law capable of being adjudged on the material on record, the Tribunal was under a statutory obligation to entertain and decide the same. I, however, think that, on the admitted facts, the petitioner

SARDAR INDRA SINGH AND SONS LTD. vs. COMMISSIONER OF INCOME-TAX,WEST BENGAL

167 CITATOR INFO : E&D 1959 SC 928 (8) ACT: Income-tax, Act (XI of 1922), s. 10-Income-Sale of shares and securities-Company carrying on business as financiers and promoters of companies-Income from sale of securities- Whether assessable-Tests. HEADNOTE: The question whether surplus arising from the sale of shares and securities is assessable as profits

J.K. COTTON MANUFACTURES LTD. vs. THE COMMISSIONER OF INCOME TAX, LUCKNOW

Accordingly fails and is dismissed with

167, 171. (2) I.T.R R 147 156 657 the purposes of business. An expenditure which is entirely gratuitous and has no connection with the business does not come within the meaning of section 10(2)(xv) of the Act." This case also is distinguishable from the facts of the present case, in as much as in Turner Morrison do Company

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

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, WESTBENGAL vs. CALCUTTA NATIONAL BANK LIMITED(IN LIQUIDATION)

The appeal is allowed with costs here and below

167, referred to. It was not correct to say that if rental income were to be covered by the main clause of s. 2(5), the first proviso to that section would become redundant. Commissioners of Inland Revenue v. The Tyre Investment Trust, Ltd., (1924) 12 T. C. 646, referred to. Nor was it correct to say that " business " could

R & B FALCON (A) PTY LTD. vs. COMMISSIONER OF INCOME TAX

Appeal is allowed to the above extent

capitalized or not. However, the same expenditure will not be liable to FBT again in the year in which it is amortized and charged to profit. Is FBT payable by an Indian Company having employees based both in and outside India on its total (global) expenditure incurred by it for the purposes referred to in clauses

THE COMMISSIONER OF INCOME-TAX,BOMBAY vs. CHANDULAL KESHAVLAL & CO., PETLAD

167 of 1958. Appeal by special leave from the judgment and order dated the February 15, 1955 of the Bombay High Court in Income-tax Reference No. 29 of 1953. C. K. Daphtary, Solicitor General of India, -B. Ganapathi Iyer and -D. Gupta, for the appellant. N.A. Palkhivala and I. N. Shro for respondent. 1960. February 17 The Judgment

M/S. BANGALORE CLUB vs. COMMISSIONER OF INCOME TAX

Section 2 (24) of the Act). The concept of mutuality has been extended to defined groups of people who contribute to a common fund, controlled by the group, for a common benefit. Any amount surplus to that needed to pursue the common purpose is said to be simply an increase of the common fund and as such neither considered income