COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

Capital gains. Various sections deal with how income, profits and gains under each http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 8 of 21 head have to be computed. Section 10 deals with the computation of profits and gains of any business carried on by an assessee. Section 10(2) prescribes the allowances which have to be deducted before computing

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

PLASTIBLENDS INDIA LIMITED THROUGH ITS CHAIRMAN AND MANAGING DIRECTOR vs. ADDL.COMMISSIONER OF INCOME TAX RANGE 8(2) MUMBAI

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

192 ITR 700 (Guj)] the Gujarat High Court has itself taken, if we may say so, a different view falling in line with the views of the Bombay, Punjab and Haryana, Karnataka, Andhra Pradesh, Calcutta and Kerala High Courts which view commends to us. The language of the provisions of Sections 32 and 34 is specific and admits

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

gains under sub-section (4) or sub-section (5) of section 80- IB; or (vi) the amount of profits derived by an industrial undertaking from the business of developing, maintaining and operating any infrastructure facility as defined as defined in the Explanation to sub-section (4) of section 80-IA and subject to fulfilling the conditions laid down in that

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

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

192, 195 (SC)], CWT v. Ram Narain Agrawal [106 ITR 965-968 (All.)], Tolaram Relumal v. State of Bombay [AIR 1954 SC 496, at page 498], TMT Thangalakshmi v. ITO [205 ITR 176 (Mad.)], CIT v. A.K. Das [77 ITR 31, at page 52 (Cal.)], CIT v. T.V. Sundaram Iyengar & Sons (P) Ltd. [101 ITR 764, at page

PRAKASH NATH KHANNA vs. COMMNR OF INCOME TAX

192 from the income chargeable http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 6 of 13 under the head "Salaries" has been deducted from that income. (2) In the case of any person who, in the Assessing Officer’s opinion, is assessable under this Act, whether on his own total income or on the total income of any other person during

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

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

Capital gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

NATIONAL CO-OPERATIVE DEVELOPMENT CORPORATION vs. COMMISSIONER OF INCOME TAX-V, DELHI

Bench: HON'BLE MR. JUSTICE SANJAY KISHAN KAUL

gains of business, and must be treated as a capital receipt. v. Since the accounts of the appellant-Corporation are duly audited, it would be able to demonstrate the nexus of the income receipts to the amounts disbursed by way of grants. The claim of deduction is restricted to the outright grants made from the revenue receipts, which are subjected

SHRIMAND PADMARAJA R. KADAMBANDA, DHULIA vs. THE COMMNR. OF INCOME TAX, PUNE

192 of 1974. T.A. Ramchandra and A.G. Ratnaparkhi for the appellant. J. Ramamurthy and Ranbir Chandra for the Respondent. The Judgment of the Court was delivered by MOHAN, J. All these appeals, arising out of a judgment of the High Court of Bombay (Nagpur Bench), can be dealt with under a common judgment since they relate to one and same

ISHIKAWAJMA-HARIMA HEAVY INDUSTRIES LTD. vs. DIRECTOR OF INCOME TAX, MUMBAI

The appeal is allowed in part and to

192 Treaty : Double Taxation Avoidance Agreement (DTAA) : Article 5 of the Double Taxation Avoidance Agreement (DTAA) between India and Japan, inter alia, provides as under : "1. For the purposes of this Convention, the term "permanent establishment" means a fixed place of business through which the business of an enterprise is wholly or partly carried on. 2. The term "permanent establishment

COMMISSIONER OF INCOME TAX vs. MYSODET

192 ITR 577 wherein it was held that payment of a loan which is deemed as a dividend cannot be construed as distribution of dividend within the meaning of Section 23A of the 1922 Act (equivalent to Section 104 of the Act). The Karnataka High Court preferred to rely upon the Calcutta High Court judgment and allowed the reference, holding

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

CHIEF COMMISSIONER OF CENTRAL GOODS AND SERVICE TAX vs. M/S SAFARI RETREATS PRIVATE LIMITED

Appeals are partly allowed in above terms

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

capital goods and plant and machinery if he claims depreciation on the said tax component under the Income Tax Act. The object is that a registered person does not take advantage of both depreciation and ITC. 29. Now we come to sub-Section (4) of Section 16. Before the amendment made by the Finance Act, 2022, the sub-section read