VANIA SILK MILLS (P) LTD. vs. COMMISSIONER OF INCOME-TAX, AHMEDABAD

In the result, the’ appeal succeeds and the impugned

capital gains chargeable under section 45 of the Act, and rejected the case of the appellant that the capital gains

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

Section 45(1) — Capital gains “Any profits or gains arising from the transfer of a capital asset effected in the previous

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

45; and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three years of its being purchased, acquired, constructed or transferred, as the case may be, the cost shall be reduced by the amount of the capital gain. Explanation.—In this sub-section

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

gains under Section 45 of the Act. If not, it was liable to be taxed as ’income from other sources’ under Section 10(3) read with Section 56 of the Act. Section 2(24)(vi) defines ’income’ as including "any capital

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

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

gains" and in the manner indicated in the fasciculus of sections 45 to 55A. The learned counsel for the appellant urged the following contentions in support of the appeal : (a) That the sale proceeds of agricultural land are totally exempt from the charge of tax under section 45 of the Act by reason of section 47(viii); hence, the capital

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

gains under Section 46(2) of the Act was accordingly set aside. The Revenue appealed before the Tribunal. The Tribunal dismissing the Revenue’s appeal held: "On a combined reading of Section 45, 46(2) and 48 it will be clear, according to our opinion, that assets mentioned in Section 46(2) would mean capital

THE COMMONWEALTH TRUST LTD., CALICUT, KERALA vs. THE COMMISSIONER OF INCOME TAX, KERALA II, ERNAKULAM

45. Capital gains. - (1) Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as other wise provided in sections

NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

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

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

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

Section 45 of the Act reads as follows: “45. Capital gains.—(1) Any profits or gains arising from the transfer

MISS DHUN DADABHOY KAPADIA vs. COMMISSIONER OF INCOME-TAX, BOMBAY

45,262.50, she capitalized that right and converted it into money. A concomitant of the acquisition of the, right was the depreciation in the value of the old shares, and the depreciation, is, in a commercial sense, the value of the right which she subsequently transferred. The net capital gain by her would, therefore, be resented, only by the difference

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

gain under Section 45 of the Act. 8. Relevant portion of Section 54 of the Act reads as under: “54. PROFIT ON SALE OF PROPERTY USED FOR RESIDENCE. (1) Subject to the provisions of sub-section (2), where in the case of an assessee being an individual or a Hindu undivided family, the capital

SHRI KARTIKEYA vs. .SARABHAI. VS THE COMMISSIONER OF INCOME TAX

Section 45 of the Act reads as follows: "Capital gains- (1) Any profits or gains arising from the transfer of capital

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

45. Capital gains - (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

COMMISSIONER OF INCOME TAX vs. SHIVAKAMI CO. PVT. LTD

45. This position is well settled by many decisions of this Court. It may be mentioned that section 52 of Income-tax Act, 1961 (hereinafter referred to as ’1961 Act’) corresponds to the first proviso of section 12B(2) of 1922 Act. The first proviso to section 12B(2) read as follows: "Provided that where a person who acquires

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

Appeals are dismissed

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

Capital gains.  F.—Income from other sources.”       Civil Appeal No.3291­3294 of 2009, etc. Page 13 of 45 Clause B was of “interest on securities”.  It was deleted with effect from 1st April 1989 along with 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

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

The appeal is allowed

capital gains by the assessee was found to be wrong obviously, the finding of the revenue authorities and the Tribunal that the assessee furnished inaccurate particulars cannot be faulted..." 16. Mr. Anil B. Dewan, the learned Senior Counsel appearing on behalf http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 9 of 26 of the Appellant, would contend that the First Respondent