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

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

VII RESULT 133 I. INTRODUCTION 4. The power of an independent Republic to levy and collect tax forms part of its inherent sovereign functions, and such power is circumscribed only by the requirement of being within the authority of law. Article 265 of the Constitution of India envisages the same. In a world where nations must necessarily engage 4 with

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

vii), the rules and bye-laws of the society restrict the voting 16 rights to the following classes of its members, namely: — (1) the individuals who contribute their labour or, as the case may be, carry on the fishing or allied activities; (2) the co-operative credit societies which provide financial assistance to the society; (3) the State Government

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

M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE

capital reserves representing surplus arising 23 out of sale proceeds of asset, excluding reserves created by revaluation of asset, as reduced by accumulated loss balance, book value of intangible assets and deferred revenue expenditure, if any; (xv) “standard asset” means the asset in respect of which, no default in repayment of principal or payment of interest is perceived and which

PUNJAB DISTILLING INDUSTRIES LTD. vs. COMMISSIONER OF INCOME-TAX, PUNJAB

The appeal is allowed in part to this

Gains. (4) Whether the accumulated profits could be considered as dividend deemed to have been distributed in the assessment year 1955-56 in view of the certificate granted by the Registrar of Companies under Section 61(4) of the Indian Companies Act, 1913, or could be considered us dividend deemed to have been distributed in the assessment year

ENGINEERING ANALYSIS CENTRE OF EXCELLENCE PRIVATE LIMITED vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

gains") for— (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade mark

ISHIKAWAJMA-HARIMA HEAVY INDUSTRIES LTD. vs. DIRECTOR OF INCOME TAX, MUMBAI

The appeal is allowed in part and to

2 SCC 862], this Court referring to its earlier decision in Commissioner of Income Tax, Punjab v. R..D. Aggarwal and Co.& Another [(1965) 56 ITR 20], opined : "15. On a plain reading of sub-sections (1) and (3) of Section 42 it would appear that income accruing or arising from any business connection in the taxable territories \027 even

COMMNR.,CENTRAL EXCISE & CUSTOMS, KERALA vs. M/S. LARSEN & TOUBRO LTD

Appeals are disposed of

vii) and (viii), the cost of establishment of the contractor as well as the profit earned by him to the extent the same are relatable to supply of labour and services will have to be excluded. The amount so deductible would have to be determined in the light of the facts of a particular case on the basis

SHARP BUSINESS SYSTEM THR. FINANCE DIRECTOR MR. YOSHIHISA MIZUNO vs. COMMISSIONER OF INCOME TAX-III N.D

The appeals are hereby disposed of in terms of

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

VII of Salmond on Jurisprudence, the classification of rights into positive or negative rights, vested or tangible rights etc. is only for the purpose of characterization of such rights in the context of co- related duties. Such classification cannot be relied upon to interpret the scope of the expression ‘any other business or commercial rights of similar nature’ appearing

CHIEF COMMISSIONER OF CENTRAL GOODS AND SERVICE TAX vs. M/S SAFARI RETREATS PRIVATE LIMITED

Appeals are partly allowed in above terms

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

capital goods and plant and machinery if he claims depreciation on the said tax component under the Income Tax Act. The object is that a registered person does not take advantage of both depreciation and ITC. 29. Now we come to sub-Section (4) of Section 16. Before the amendment made by the Finance Act, 2022, the sub-section read

NATIONAL CO-OPERATIVE DEVELOPMENT CORPORATION vs. COMMISSIONER OF INCOME TAX-V, DELHI

Bench: HON'BLE MR. JUSTICE SANJAY KISHAN KAUL

2) of the NCDC Act and could not be an expenditure in the nature of revenue. Round three, thus, went to the Revenue Department. 8. The fourth round was before the Delhi High Court where on a reference made under Section 256(1) of the IT Act, the High Court accepted the question of law to be answered as under

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

MANSAROVAR COMMERCIAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX DELHI

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

capital gains in a particular case may tantamount to a failure in raising a substantial question of law in terms of Section 260A of the Act. However, the same may not apply on interest as the interest is automatic and mandatory. 4.14 Making above submissions and relying upon the aforesaid decisions, it is prayed that the present appeals be dismissed

DIRECTOR OF INCOME TAX (IT)-I, MUMBAI vs. M/S. AMERICAN EXPRESS BANK LTD

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

VII, Mumbai. The Commissioner vide Order dated 26.09.2000 affirmed the decision of the Assessing Officer. 8. Thereafter, the respondent filed an appeal before the Income Tax Appellate Tribunal, Mumbai. The Income Tax Appellate Tribunal, Mumbai, vide Order dated 08.08.2012, allowed the appeal of the respondent by relying upon the Bombay High Court’s decision in Commissioner of Income

NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY vs. CHIEF COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ASHOK BHUSHAN

VII deals Finance, Accounts and Audit. 23. We may also notice the notification dated 24.12.2001 issued by the Governor in exercise of the powers under the proviso to Clause (1) of Article 243Q. The notification is as follows: “NOTIFICATION No.6709/77-4-2001-56 Bha/99 In exercise of the powers under the proviso to Clause (1) of Article 243Q of the Constitution of India

PRINCIPAL DIRECTOR OF INCOME TAX (INVESTIGATION) vs. LALJIBHAI KANJIBHAI MANDALIA

The appeal is allowed and the order passed by the High

Bench: HON'BLE MR. JUSTICE HEMANT GUPTA

56:26 IST Reason: Signature Not Verified conditions precedent as specified in Section 132 of the Act are not satisfied. It is the stand of the assessee that he was looking for an avenue to invest some money and the M/s. Goan Recreation Clubs Private Ltd4. was in need of finance for setting up of its business and hence consequently