COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

d) extra-shift allowance double shift and triple shift; (xii) total depreciation; (xiii) investment allowance claimed (also indicate rate); (xiv) remarks (indicate the amount of initial depreciation, investment allowance or development rebate allowed in respect of the assets in an earlier year). (2) Where the depreciation in respect of any asset is not admissible as a deduction under clause

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

D. No. 22308/2022 has been filed by the revenue against the judgment and order dated 11.01.2022 passed by the Madras High Court dismissing Tax Case (Appeal) No. 600 of 2010 (CIT, Chennai Vs. M/s. Pentasoft Technologies Limited) of the revenue for the assessment year 2001-02. 5. The perennial question of whether an expenditure incurred by an assessee is capital

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

Bench: HON'BLE THE CHIEF JUSTICE

D G M E N T S. RAVINDRA BHAT, J. 1. Leave granted. Berger Paints India Ltd. v Commissioner of Income Tax, Kolkata-IV & Anr.1 was the lead matter while hearing this batch of appeals. However, the parties agreed to treat Checkmate Services Pvt. Ltd. v Commissioner of Income Tax-I2 as the lead appeal, for convenience. In all these

RAJASTHAN STATE ELECTRICITY BOARD JAIPUR vs. THE DY. COMMISSIONER OF INCOME TAX (ASSESSMENT)

In the result, we allow the appeal, set aside the

Bench: HON'BLE MRS. JUSTICE R. BANUMATHI

D G M E N T ASHOK BHUSHAN, J. This appeal has been filed by the assessee challenging the Division Bench judgment dated 13.11.2007 of the High Court of Judicature for Rajasthan at Jaipur Bench, Jaipur by which D.B. Civil Special Appeal (Writ) No.837 of 1993 filed by the Revenue has been allowed upholding the demand of additional tax under

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

11 which deals with exchange differences arising on repayment of liabilities incurred for the purpose of acquiring fixed assets, which topic falls under Section 43A of the 1961 Act. At this stage, we are concerned only with para 9 which deals with revenue items. Para 9 of AS-11 16 recognises exchange differences as income or expense. In cases where

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. AHMEDABAD URBAN DEVELOPMENT AUTHORITY

Bench: HON'BLE THE CHIEF JUSTICE

D work which enables educational institutions with Information and Communication Technology infrastructure for making education reach the public at large solely for charitable purpose and further reliance was placed upon ICAI Accounting Research Foundation v. DGIT(E)70, Bureau of Indian Standards v. DGIT(E)71 and GS1 India v. DGIT(E)72. 66. Mr. Ajay Vohra, learned senior counsel

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

D G M E N T S.H. KAPADIA, J. Leave granted in the Special Leave Petition. Introduction An interesting question of law which arises for determination in these Civil Appeals filed by Non-banking Financial Companies (“NBFCs” for short) is: “Whether the Department is entitled to treat the “Provision for NPA”, which in terms of RBI Directions 1998 is debited

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

depreciation; or (iv) the amount of profits derived by an industrial undertaking from the business of generation or generation and distribution of power; or (v) the amount of profits derived by an industrial undertaking located in an industrially backward State or district as referred to in sub-section (4) and sub- section (5) of section 80-IB, for the assessment

ASSISTANT COMMISSIONER OF INCOME TAX vs. RAJESH JHAVERI STOCK BROKERS PVT.LTD

The appeal is allowed without

11. It is to be noted that substantial changes have been made to section 143(1) with effect from June 1, 1999. Up to March 31, 1989, after a return of income was filed the Assessing Officer could make an assessment under section 143(1) without requiring the presence of the assessee or the production by him of any evidence

NECTAR BEVERAGES PVT. LTD. vs. DEPUTY COMMNR. OF INCOME TAX

D G M E N T S.H. KAPADIA, J. Leave granted. 2. In this batch of Civil Appeals, pertaining to assessment years 1990-91 to 1998-99, the question which arises for determination is: whether the concept of “balancing charge” in Section 41(2) could be read into Section 41(1) of the Income Tax Act, 1961? 3. In this

M/S. G.K. CHOKSI & CO. vs. COMMNR. OF INCOME TAX, GUJARAT

D of the Act reads as "Profit and Gains of Business or Profession". That, Section 32 relates both to "business" as also "profession" and since Section 32(1) of which (iv) is a sub clause, the assessee carrying on profession would be entitled to the depreciation under Section 32(1)(iv) though the word "profession" does not find mention

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

11 of 17 In Indo-Gulf Fertilizers and Chemicals Corporation Ltd. v. Union of India, 195 ITR 485 (All.), it was held as under: - "The language of the provision quoted above itself shows that where "the total income" after making adjustments under clause (a) of sub-section (1) of section 143 of the Act exceeds the total income declared

DEPUTY COMMISSIONER OF INCOME TAX vs. M/S. CORE HEALTH CARE LTD

D G M E N T CIVIL APPEAL NOS.3952-3955 OF 2002 WITH Civil Appeal Nos. 8509-10 of 2002 Commissioner of Income Tax, Baroda \005 Appellant (s) versus M/s. Core Health Care Ltd. ... Respondent (s) KAPADIA, J. For the sake of convenience we state the facts occurring in Civil Appeal Nos.3952-55 of 2002 \026 Dy. Commr. of Income Tax, Ahmedabad

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

D. Nageswar Rao, learned counsel for the respondent assessee. 4. All the appeals are by the revenue assailing orders of various high courts dismissing its appeals filed under Section 260A of the Income Tax Act, 1961. The core and common issue raised in all the appeals is the recomputation of deduction under Section 80 IA of the Income

THE PRINCIPAL COMMISSIONER OF INCOME TAX III, BANGALORE vs. M/S WIPRO LIMITED

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

D G M E N T M.R. SHAH, J. 1. Feeling aggrieved and dissatisfied with the impugned judgment and order dated 30.11.2020 passed by the High Court of Karnataka at Bengaluru in Income Tax Appeal No. 462/2017, by which the High Court has dismissed the said appeal preferred by the Revenue and has confirmed the judgment and order dated

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

d) of sub-section (1) of section 158BB. In any case although there is a difference between the regular assessment and the block assessment, as we have already noticed, unless the provisions of the block assessment specifically bar the assessing authority from taking into consideration the income disclosed by the assessee on payment of the advance tax to be taken

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

D. Khare, who was the CIT at the time of passing of the Assessment Order dated 19.12.2002 as certain strictures were passed in the said order dated 2.3.2006 against him without giving an opportunity of hearing to him. A Special Leave Petition No. 1789 of 2007 12 was also filed by the CIT (Shimla) against the said High Court

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

d) Treatment of depreciation on permanent assets and securities. iii. The Commission’s order dated 11.12.2000, makes multiple references to the Report of the Commissioner, as required under Section 245D (1). Therefore, we find no substance in the submission of the Ld. ASG appearing on behalf of the Revenue that the procedure contemplated under Section 245D was not followed