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

capital gains and more particularly Section 50 falling under Part E. While now sub-section (1) of Section 55 which uses the expressions "adjusted" and "cost of improvement" http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 14 of 15 applies for the purposes of Section 48

VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

48 lays down the mode of computation of capital gains and deductions therefrom.” In para 45 of the judgment, the Court also stated that capital gains under Section

NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

Section 48 deals with mode of computation of income chargeable under the head “Capital gains”. Under that section, such income

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 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 gains, once this Court has recognized that amalgamation entails a transfer, that conclusion cannot be ignored while considering the ambit of Section 28. 16.4. The real question, therefore, is whether an amalgamation – though, in company law, it operates as a statutory substitution of rights – nonetheless gives 36 rise to taxable business profits under Section

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

capital gains could not be computed as envisaged in Section 48 of the Income Tax Act, therefore capital gains earned

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

TEA ESTATE INDIA (P) LTD. vs. COMMISSIONER OF INCOME-TAX

capital gain. As such gain arose during the period from April 1 1946 to March 31 1948 the same according to Mr. Hardy would answer to the description of accumulated profits as mentioned in the explanation to section (6A) of the Act. The above contention of Mr. Hardy, in our opinion is not well founded. Income which is realised

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

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

capital gains as envisaged under Section 48 of the Income Tax Act, 1961. The relevant observations made by the High

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

capital gain, in fact, arose or accrued to the assessees. According to the learned counsel, under Section 45 read with Section 48

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

The appeal is allowed

capital gain’ are required to be taken into consideration. Section 48 of the Act, inter alia, provides that the income

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

capital asset situated 38 in India (referred as business income). Explanation 1(a) to Section 9(1)(i) of the Act provides an exclusion in the case of operations which are not carried out in India. The explanation provides that the income of the business deemed under this clause to accrue or arise in India shall be only that part

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

capital gains. It may be noted that Section 52 is not a charging section but is a computation section. It has to be read along with Section 48

COMMISSIONER OF INCOME TAX, DELHI vs. M/S WOODWARD GOVERNOR INDIA P. LTD

gains is as per nationally accepted accounting standards; (vi) whether the system adopted by the assessee is fair and reasonable or is adopted only with a view to reducing the incidence of taxation. Facts in M/s Honda Siel Power Products Ltd. [Civil Appeal arising out of SLP(C) No. 7632/08] – CAPITAL ACCOUNT CASE: 22. The main issue which arises

COMMISSIONER OF INCOME TAX vs. SMT. PELLETI SRIDERAMMA, NELLORE

The appeal is allowed, the

48,000/-. On the http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 2 of 5 date of this sale also, Suryanarayana Reddy was a minor. The Income Tax Officer included the capital gain of Rs.58,000/- in the assessee’s income in terms of Section

SHEKHAWATI GENERAL TRADERS LTD. vs. INCOME TAX OFFICER, COMPANY CIRCLE I, JAIPUR

The appeals are allowed and the

Capital gains" and shall be deemed to be the income of the previous year in which the transfer took place. Section 48

TURNER MORRISON & CO., LTD. vs. COMMISSIONER OF INCOME-TAX,.WEST BENGAL

48. 530 profit during the year then the question of receipt of income, profits and gains would not arise but if there were income profits and gains, then the proportionate part thereof attributable to the sale proceeds received by the Agents in India were income, profits and gains received by them at the moment the gross sale proceeds were received

COMMNR. OF INCOME TAX, AHMEDABAD vs. EQUINOX SOLUTION PVT. LTD

Bench: HON'BLE MR. JUSTICE ABHAY MANOHAR SAPRE

capital gain as specified in Section 50 (2) of the Act and hence did not fall under Section 48 (2) of the Act as claimed