COMMR. OF INCOME TAX, BANGALORE vs. VENKATESHWARA HATCHERIES

gains. Section 32A is one of the sections dealing with such deductions. Therefore, the income from poultry being outside the scope of total income by virtue of omitted Section 10(27) of the Act, there was no question for application of Sections 32A and 80J to them at least when we find that Section 80JJ was consciously simultaneously re-enacted

SHAH ORIGINALS vs. COMMISSIONER OF INCOME TAX 24 MUMBAI

Bench: HON'BLE MR. JUSTICE S.V.N. BHATTI

capital, and the gain from foreign exchange fluctuation comes within the permissible deduction of Section 80 HHC of the Act. He places strong reliance on Sutlej Cotton Mills Ltd. v. Commissioner of Income Tax, Calcutta1 and Commissioner of Income Tax, Delhi v. Woodward Governor India Pvt. Ltd2. The Learned Counsel also places reliance on Commissioner of Income

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

capital or revenue receipt. This additional issue has been raised in Civil Appeal No.9917 of 2017 (Assistant Commissioner of Income Tax Vs. M/s Godawari Power and Ispat Pvt. Ltd.) and also in Civil Appeal No.8983 of 2017 (Assistant Commissioner of Income Tax Chhattisgarh Vs. M/s Godawari Power and Ispat Pvt. Ltd.) RECOMPUTATION OF DEDUCTION UNDER SECTION

BAJAJ TEMPO LTD. BOMBAY vs. COMMISSIONER OF INCOME TAX,BOMBAY CITY-IIIBOMBAY

Accordingly succeed and are allowed

gains derived from any industrial undertaking to which this section ap- plies as do not exceed six percent per annum on the capital employed in the undertaking, computed in accordance with such rules as may be made in the behalf by the Central Board of Revenue. (2) This section applies to any industrial under- taking which (i) is not formed

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

80J and section 80JJ. (4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank. Explanation.—For the purposes of this sub-section,— (a) “co-operative bank” and “primary agricultural credit society” shall have the meanings respectively assigned

CAMBAY ELECTRIC SUPPLY INDUSTRIAL CO. LTD. vs. THE COMMISSIONER OF INCOME TAX, GUJARAT-IIAHMEDABAD (AND VI

In the result the assessee’s appeal also fails and the same

80J. Since the expression of wider import, namely, "attributable to" has been used, the legislature intended to cover receipts from sources other than the actual conduct of the business of generation and distribution of electricity. [669 G-H] 2. (a) The High Court was right in deducting unabsorbed depreciation and development rebate aggregating to Rs. 2,54,613 from