NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

1)(b) of the Act, it is further stipulated that where the capital gain arises from the transfer of a long-term capital asset, then, in addition to the expenditure incurred in connection with the transfer and the cost of acquisition of the asset, a further deduction, as specified in Section 48(2) of the Act, which is similar

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

250 (Bom). 8 1990 (186) ITR 412 (Bom). 6 (vii) subject to the provisions of sub-section (2), the amount of any bad debt or part thereof which is written off as irrecoverable in the accounts of the assessee for the previous year: Provided that in the case of an assessee to which clause (viia) applies, the amount

THE BANK OF RAJASTHAN LTD. vs. COMMISSIONER OF INCOME TAX

Appeals are dismissed

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

250, also   support   our   view   in   the   present   case. In UCO Bank's case, the assessee Bank claimed a set off under section 24(2) of the Income­tax Act,   1922   (section   71(1)   of   the   present   Act) against its income from interest on securities under   section   8   of   the   1922   Act   (similar   to section   28   of   the   present

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

AGRICULTURAL PRODUCE MARKET COMMITTEE vs. COMMR.OF INCOME TAX

Appeals are dismissed with no order as to costs

1. Leave granted. 2. In this batch of civil appeals a short question which arises for determination is : whether Agricultural Market Committee (“AMC”, for short) is a “local authority” under the Explanation to Section 10(20) of the Income-tax Act, 1961 (“1961 Act”, for short). 3. For the sake of convenience we refer to the facts mentioned in Civil

COMMNR. OF INCOME TAX, MUMBAI vs. M/S. GENERAL INSURANCE CORPN.OF INDIA

250 crores and second relating to issue of bonus shares. In respect of the first category of expenditure it was held that the same was not allowable in terms of the judgments of the Bombay High Court in the case of Bombay Burmah Trading Corporation, vs. CIT, (1984) 145 ITR 793 and Richardson Hindustan Limited http://JUDIS.NIC.IN SUPREME COURT

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE K.M. JOSEPH

250 gms. Per unmarried lady and 100 gms. Per male member of the family, need not be seized. (iii) The authorised officer may, having regard to the status of the family and the custom and practices of the community to which the family belongs and other circumstances of the case, decide to exclude a larger quantity of jewellery and ornaments