M.M. AQUA TECHNOLOGIES LTD. vs. COMMISSIONER OF INCOME TAX, DELHI - III

Appeals are allowed in the aforesaid terms

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

197, the copy of the statement of taxable income of the assessee for the AY 2001-02 has been filed, which shows that in the year in which the debentures were redeemed, the assessee did not claim any deduction for the interest. It has thus been proved in the present case that the payment of interest by conversion

M/S. SARAF EXPORTS vs. COMMISSIONER OF INCOME TAX, JAIPUR - III

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

197/- on account of DEPB and of Rs. 76,27,636/- on account of receipts under the Duty Drawback. 2.2 The assessee credited the receipts of the aforesaid amounts into the Profit & Loss Account and claimed the same as “Profit / gains of business / profession” under Sections 28(iiic) and 28(iiib) of the Act, 1961. The assessee was issued

BRITANNIA INDUSTRIES LTD. vs. COMMNR. OF INCOME TAX

gains of business or profession". In other words, Section 37 is to be read to the exclusion of the amounts allowable under Sections 30 to 36. Although, the expression "premises used for the purposes of the business or profession" has been used along with the expression "buildings and furniture" under Sections

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

197 (SC) that where the predominant majority of the High Courts have taken certain view of the interpretation of a certain provision, the Supreme Court would lean in favour of the predominant view. The contention advanced by the Ld. Counsel appearing for assesses that when there is no tax, there cannot be any penalty, is made with reference

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

197, relates to assessment years 1965-66, 1966-67, 1967-68, 1968-69 and 1969-70 corresponding to financial years 1964-65 to 1968-69. 711 Civil Appeal No.2203 of 1979, directed against the order passed in Income Tax Reference No.121 of 1969, relates to assessment years 1963-64 and 1964-65 corresponding to financial years

NATIONAL COOPERATIVE DEVELOPMENT CORPORATION vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE PAMIDIGHANTAM SRI NARASIMHA

gains derived from the conduct of the business of generation and distribution of electricity…." 15. The phrase "derived from" whether used alone or as "derived from the business of" appears across multiple provisions of the Act, such as Section 80HHC and Section 80JJA. This Court has consistently held that this phrase requires a direct and proximate connection, or a "first

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