COMMR.OF INCOME TAX-I,NEW DELHI vs. VATIKA TOWNSHIP P.LTD

Appeals of the assessees are allowed deleting the surcharge levied by the

depreciation under sub-section (2) of section 32 shall not be set off against the undisclosed income determined in the block assessment under this Chapter, but may be carried forward for being set off in the regular assessments. Civil Appeal No.________ of 2014 & connected matters Page 17 of 57 (arising out of S.L.P. (C) Nos. 540 of 2009) Page

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

10,047.00 as against the claim of Rs. 2,85,37,634.00. However, vide the appellate order dated 16.05.2005, CIT (A) confirmed the disallowance of depreciation made by the assessing officer. 38. On further appeal by the assessee before the Tribunal, vide the order dated 07.06.2007, the Tribunal on the basis of its previous decision in the case

THE TATA IRON AND STEEL CO.LTD., BIHAR vs. THE COLLECTOR OF CENTRAL EXCISE,PATNA

The appeals are disposed of accordingly with no order as to costs

38 ITR 25 at 27 it was held, putting aside the examples given in the dictionary meaning to explain the scope of the word "installed", that "installed" would certainly mean "to place an apparatus in position for service or use". A bus or a lorry is a plant within the meaning of Section 10(2) (vi-b) of the Income

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

10. It is submitted that even though sub-Section (5) of Section 17 starts with the non-obstante clause, it cannot be said that the legislature intended to override Section 16(1) in its entirety. It is submitted that the non-obstante clause in Section 17(5) cannot cut down the construction or restrict the scope of operation of Section

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE K.M. JOSEPH

38 of a deeming provision the court has to assume an unreal state of things to be real.” 45. In Commissioner of Income Tax v. K.I. Pavunny11, a Division Bench was dealing with the case where excise authorities found articles covered by Section 69A in a box. The assessee sought to attribute ownership to another person with whom

CHECKMATE SERVICES P LTD vs. COMMISSIONER OF INCOME TAX-I

Bench: HON'BLE THE CHIEF JUSTICE

38 deal with different kinds of deductions, whereas Sections 40 to 43B spell out special provisions, laying out the mechanism for assessments and expressly prescribing conditions for disallowances. In terms of this scheme, Section 40 (which too starts with a non- obstante clause overriding Sections 30-38), deals with what cannot be deducted in computing income under the head “Profits

THE ASSTT. COMMISSIONER OF INCOME TAX vs. M/S. A.R. ENTERPRISES

depreciation under sub- section (2) of section 32; (b) of a firm, or its partners, the method of computation of undisclosed income and its allocation to the partners shall be in accordance with the method adopted for determining the as- 21 Page 22 JUDGMENT sessed income or returned income for each of the previous years falling within the block period

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

depreciation. From the viewpoint of creditors, a good realisation can generally be obtained if the firm is sold as a going concern. Hence, when delays induce liquidation, there is value destruction. Further, even in liquidation, the realisation is lower when there are delays. Hence, delays cause value destruction. Thus, achieving a high recovery rate is primarily about identifying and combating

COMMR.OF INCOME TAX, DEHRADUN vs. M/S ENRON OIL & GAS INDIA LTD

Bench: Cit(A), Who After Analyzing The Psc Held That Each Co-Venturer In This Case Had Made Contribution At A Certain Rate Whereas The Expenditure Incurred Out Of The Said Contribution Stood Converted On The Basis Of The Previous 2

38,980. 7. Aggrieved by the order passed by CIT(A) the Department carried the matter in appeal to ITAT objecting to the deletion made by CIT(A) on the ground that the loss was only a book entry. It may be noted that before the 3 Tribunal the matter pertained to Assessment Years

VODAFONE IDEA LTD(EARLIER KNOWN AS VODAFONE MOBILE SERVICES LIMITED vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 26 (2)

Bench: HON'BLE THE CHIEF JUSTICE

depreciation as claimed and by taxing the interest income of Rs.1,07,85,590 as income from other sources and thus raised the demand of Rs. 1,30,83,741 under various heads and sections of taxes, surcharge and additional tax under Sections 143(1A), 234A and 234B. 4. Mr. Shah, learned counsel appearing for the assessee, has contended that

COMMNR. OF CUSTOMS (GENERAL), N. DELHI vs. GUJARAT PERSTORP ELECTRONICS LTD

The appeals are allowed

38 RLT 846 (LB). It noted that the Larger Bench was faced with the issue as to whether the law laid down by a two- member Bench in Tractors & Farm Equipment Ltd. vs. Collector of Customs, (1993) 68 ELT 234 was correct or decisions of Coordinate Benches in Mitutronics vs. Collector of Customs, (1990) 46 ELT 500, Roto Inks

M/S. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

Bench: This Court & On Leave Being Granted, Civil Appeals Have Been Registered. 3.

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in Sections 148 to 153 referred to as the relevant assessment year). 32 28.4. Thus, Section 147 as it stood at the relevant point of time provides that if the assessing officer has reason to believe that any income

PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) 2 vs. M/S MAHAGUN REALTORS (P) LTD

The appeal is allowed, in the above terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

10. Section 481 of the Companies Act provides for dissolution of the company. The Company Judge in the High Court can order dissolution of a company on the grounds stated therein. The effect of the dissolution is that the company no more survives. The dissolution puts an end to the existence of the company. It is held in M.H. Smith

SHIV RAJ GUPTA vs. COMMISSIONER OF INCOME-TAX, DELHI IV

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

38,999 Jayant Gupta (Appellant’s Son) 44,658 Roopa Gupta (Appellant’s Daughter-in-law) 53,911 Pushpa Gupta (Appellant’s Wife) 3,303 Avanti Pandit (Appellant’s Daughter) 5,541 Arti Kirloskar (Appellant’s Daughter) 2,760 Total 1,86,109 3. The said MoU recites that the company employed in its factory 350 employees and around

COMMNR. OF INCOME TAX, UDAIPUR vs. MCDOWELL & CO. LTD

The appeal is disposed of

Bench: The High Court Are As Follows: (1) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Holding That The Unpaid Amount Of Bottling Fee Has, On Furnishing Of The Bank Guarantee, To Be Treated As Actual Payment & Accordingly Allowing The Deduction In Respect Of The Same Under Section 43B Of The Act, Even Though The Sum Has Not Been Actually Paid Before The Due Date Of Filing The Return Under Section 139(1) Of The Act. (2) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Allowing The Depreciation On Research & Development Assets Which Related To The Closed Business Of Fast Food Division/Unit Of The Assessee-Company As Such Not Used During The Previous Year? (3) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Deleting The Addition Of Rs.2,77,887/- 2

10. It would be pertinent to note that the expression now used in Section 43B (i)(a) is "Tax, Duty, Cess or fee or by whatever name called". It denotes that items enumerated constitute species of the same genus and the expression 'by whatever name called' which follows preceding words 'Tax', 'Duty', 'Cess' or 'fee' has been used ejusdem generis

M/S. SARAF EXPORTS vs. COMMISSIONER OF INCOME TAX, JAIPUR - III

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

10 of 36 important thing to be considered while interpreting the said section is that the words used are “derived from” and not “attributable to”. That the words “attributable to” in the given clause have been given a wider connotation as opposed to the words “derived from” which have been interpreted to be confined to “first degree sources

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

38,980/-, Bill Discounting of Rs. 12,79,500/- 2 and Loans and Advances of Rs. 31,84,701/-, in all, totalling Rs. 1,02,03,121/- from which AO allowed deduction of Rs. 20,34,605/- on account of Hire Purchase Finance Charges leaving a balance provision for NPA of Rs. 81,68,516/-. Before the AO, Assessee claimed

COMMISSIONER OF INCOME TAX VI vs. VIRTUAL SOFT SYSTEMS LTD

The appeal is hereby dismissed leaving parties to bear their own cost

Bench: HON'BLE MR. JUSTICE R.K. AGRAWAL

38 of 1949), as may be prescribed by the Central Government in consultation with the National Advisory Committee on Accounting Standards established under sub-section (1) of section 210A: Provided that the standards of accounting specified by the Institute of Chartered Accountants of India shall be deemed to be the accounting standards until the accounting standards are prescribed