THE AUTHORITY FOR ADVANCE RULINGS (INCOME TAX) vs. TIGER GLOBAL INTERNATIONAL II HOLDINGS

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

gains arising to the assessees from the transfer may not be deemed to accrue / arise in India in light of Section 9 of the ITA. According to the learned Senior Counsel, a plain reading of Section 90 establishes that the only requirement that needs to be satisfied in respect of treaty eligibility under Section 90(2) is the satisfaction

M/S FIBRE BOARDS (P) LTD BANGALOARE vs. CIT BANGALORE

Section 280Y(d) gave to a person who shifted from an urban area to another area, a tax credit certificate with reference to the amount of tax payable by the Company on income tax chargeable under the Heading “Capital Gains” and would be given relief accordingly. He referred us to a 4

M/S JINDAL EQUIPMENT LEASING CONSULTANCY SERVICES LTD. vs. COMMISSIONER OF INCOME TAX

Appeals stand disposed of in the aforesaid terms

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

capital gain in the 18 hands of the respondent-assessee as part of the full value of the sale consideration paid for transfer of shares. This finding would clearly be in the teeth of Section 260-A (4

THE MAVILAYI SERVICE COOPERATIVE BANK LTD. vs. COMMISSIONER OF INCOME TAX CALICUT

Bench: Us, The Assessing Officer Denied Their Claims For Deduction, Relying Upon Section 80P(4) Of The It Act, Holding That As Per The Audited Receipt & 2

gains attributable to such activities as does not exceed,— 17 (i) where such co-operative society is a consumers’ co-operative society, one hundred thousand rupees; and (ii) in any other case, fifty thousand rupees. Explanation.—In this clause, “consumers’ co-operative society” means a society for the benefit of the consumers; (d) in respect of any income

NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

4 - 2(42A). `Short-term capital asset' means a capital asset held by an assessee for not more than thirty-six months immediately preceding the date of its transfer. 45(1). Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections

SEDCO FOREX INTERNATIONAL INC. THR. ITS CONSTITUTED ATTORNEY MR. NAVIN SARDA vs. COMMISSIONER OF INCOME TAX MEERUT

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

gains in case of 36 non-resident assessee engaged in activities relating to business of exploration of mineral oil etc. At the same time Sections 4,5 and 9 of the Act which deal with charging section, total income and income of non-resident which arises or deem to arise in India cannot be sidetracked. These are the provisions which

N. BAGAVATHY AMMAL vs. COMNR. OF INCOME TAX, MADURAI

Section 45 shall apply to the following transfers: (viii) any transfer of agricultural land in http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 4 of 5 India effected before the 1st day of March 1970" it may have been argued at least on behalf of the Company that the ’transfer’ having been concluded in 1969 was exempt from capital gains

COMMNR. OF INCOME TAX, MUMBAI vs. D.P. SANDU BROS CHEMBUR (P) LTD

4 provides that any profits or gains arising from the transfer of a capital asset effected in the previous year is chargeable to income tax under the head ’capital gains’ and is deemed to be the income of the previous year in which the transfer took place, subject to certain exceptions which are not material in this case. Section

DELHI FARMING & CONSTRUCTION(P) LTD. vs. COMMNR. OF INCOME TAX, DELHI

In the result, we set aside the judgment of the High Court and uphold the

section 47(viii); hence, the capital gains accruing as a result of the compensation paid could never have formed part of the "total income" of the appellant- assessee; (b) That capital gains are not commercial or business profits, nor are they income in the true sense of the term, although by legislative fiction they have been included within the scope

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

SH. SANJEEV LAL ETC. ETC. vs. COMMISSIONER OF INCOME TAX CHANDIGARH&AN

capital gain was Page 4 JUDGMENT 4 not chargeable to income tax as per the provisions of Section 54 of the Income

PRAKASH NATH KHANNA vs. COMMNR OF INCOME TAX

Capital gains" and claims that the loss or any part thereof should be carried forward under sub-section (1) of Section 72, or sub-section (2) of Section 73, or sub-section (1) or sub- section (3) of Section 74, or sub- section (3) of Section 74A, he may furnish within the time allowed under sub-section

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

PRINCIPAL COMMISSIONER INCOME TAX 4 BENGALURU 2 vs. M/S JUPITER CAPITAL PRIVATE LIMITED

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

4 of 1882); or (vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a cooperative society, company or other association of persons or by way of any agreement or any arrangement or in any other manner whatsoever) which has the effect of transferring, or enabling the enjoyment of, any immovable property. Explanation

COMMR.OF INCOME TAX,NEW DELHI vs. M/S ELI LILLY & COMPANY (INDIA) P.LTD

4(2). Therefore, if a sum that is to be paid to the non-resident is chargeable to tax, tax is required 30 to be deducted. The sum which is to be paid may be income out of different heads of income mentioned in Section 14, that is to say, income from salaries, income from house property, profits and gains

COMMISSIONER OF INCOME TAX, KOCHI vs. TRANS ASIAN SHIPPING SERVICES (P) LTD

Capital Gains and (v) Income from Other Sources. Thereafter, manner of computation of the income under the aforesaid heads is stipulated in various sections falling under Chapter IV. As far as Income from Profits and Gains of Business or Profession is concerned, Sections 28 to 44DB of the Act contain the procedure for computation of income under this head. Therefore

COMMISSIONER OF INCOME TAX vs. BALBIR SINGH MAINI

The appeals are dismissed with no order as to

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

4. Further Section 53A of 1882 Act, by incorporation, stood embodied in Section 2(47)(v) 11 of the Act and all the essential ingredients of Section 53A of 1882 Act were required to be fulfilled. In the absence of registration of JDA dated 25.02.2007 having been executed after 24.09.2001, the agreement does not fall under Section

DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

capital gains being only one of them. It is not disputed that the registered valuers are appointed in terms of the provisions of the Wealth Tax Act, 1957. Sections 16A thereof provides for reference to Valuation Officer. 73. In terms of sub-section (2) of Section 16A, the Valuation Officer may serve a notice upon the assessee. Sub-section (4