INCOME TAX APPELLATE TRIBUNAL vs. DY.COMMNR. OF INCOME TAX & ANR.ETC.ETC

Appeals are allowed accordingly

depreciation and loss should necessarily be present for purpose of adjustment while computing book profit u/s 115-J of the I.T. Act http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 6 of 13 read with 205(1) proviso (b) of the Companies Act? (2) For purpose of computing book profits under sec. 115J of the I.T. Act read with Section

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

depreciation on the assets used for power generation. This additional issue has been raised by the revenue in Civil Appeal No.13771 of 2015 (Commissioner of Income Tax Vs. M/s Jindal Steel and Power Ltd.). Revenue has also raised the issue of expenditure in Civil Appeal No.7425 of 2019 (Commissioner of Income Tax Vs. M/s Reliance Industries Ltd.). The expenditure claimed

MALAYALA MANORAMA CO LTD. vs. COMMR.OF INCOME TAX, TRIVANDRUM

The appeals are allowed and the

Section 115-J.\024 Mr. Joseph Vellapally, learned senior counsel appearing on behalf of the appellant reiterated that this case is fully covered by detailed reasoning given by this Court in the case of Apollo Tyres. He further submitted that the reasoning of this case has been accepted in a large number of judgments of the High Courts. Mr. Vellapally

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

M/S DALMIA POWER LTD. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Appeals are allowed

Bench: HON'BLE MS. JUSTICE INDU MALHOTRA

115 JAA of the Income Tax Act, credit of foreign tax paid/withheld etc., if any, pertaining to Amalgamating Undertaking 2 as may be required consequent to implementation of this Scheme and where necessary to give effect to this Scheme, even if the prescribed time limits or revising such returns have   lapsed   without   incurring   any   liability   on account of interest, penalty

COMMR.OF INCOME TAX-IV,DELHI vs. M/S HCL COMNET SYSTEMS & SERVICES LD

Accordingly the same is dismissed with no order as

depreciation for such financial year or part of such financial year falling within the relevant previous year. Explanation.-For the purposes of this section, "book profit" means the net profit as shown in the profit and loss account for the relevant previous year prepared under sub- section (2), as increased by- (a) & (b) xxx xxx xxx 3 (c) the amount

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

WIPRO FINANCE LTD. vs. THE COMMISSIONER OF INCOME TAX, BANGALORE

The appeal is allowed in terms of the signed

115 of IT Rules and further the liability is real as per terms of the agreement with CDC.  Just because the liability is payable in future does not covert the actual liability into contingent liability as held by the Supreme Court in Calcutta Co Ltd. vs. CIT – 37 ITR 1 and Bharat Earth Movers