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

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

1) or sub-section (1B) of section 143. (2) In computing the undisclosed income of the block period, the provisions of sections 68, 69, 69A, 69B and 69C shall, so far as may be, apply and references to financial year in those sections shall be construed as references to the relevant previous year falling in the block period including

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. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

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

depreciation at the rate of 7.50% on the turnover came to Rs.57,22,106.00. In respect of the daily newspaper, the assessing officer worked out the loss at Rs.22,95,872.00 as against the loss of Rs.41,23,500.00 claimed by the assessee. Taking an overall view of the matter, the assessing officer estimated the business income of the assessee

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL) CIRCLE 1(2) vs. M/S M.R. SHAH LOGISTICS PVT. LTD

Appeal is allowed in these terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

132(4). 8 13. It was pointed out that the AO’s opinion has to be based upon some objective material on the record as to constitute tangible material. The sufficiency of that material would ordinarily not be scrutinized by the courts in exercise of judicial review. It was submitted lastly that on perusal of the circular of CBDT dated

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

depreciation, etc., are allowed to the transferee. Therefore, unlike a winding up, there is no end to the enterprise, with the entity. The enterprise in the case of amalgamation, continues. 31. In Maruti Suzuki (supra), the scheme of amalgamation was approved on 29.01.2013 w.e.f. 01.04.2012, the same was intimated to the AO on 02.04.2013, and the notice under Section

COMMISSIONER OF INCOME-TAX(CENTRAL) vs. M/S. GWALIOR RAYON SILK MFG.(WVG.)CO.LTD

The appeal is partly allowed

1. The roads laid within the factory premises as links or providing approach to the buildings are necessary adjuncts to the factory building to carry on the business activity of the assessee would be building within the meaning of section 32 of the Act. The capital expenditure incurred thereon is admissible to depreciation of written down value

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

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

132(5) of the Act. It appears that the said Rattan Gupta informed the assessees about notices under section 148 of the Act issued to each of them at the CA 5769/2022 Etc. Page 5 of 67 address of M/s Rattan Gupta & Co. at Daryaganj, New Delhi and affixed at the said premises of M/s Rattan Gupta & Co. 2.6 Meanwhile

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

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

depreciation under Section 32. 57. This Court is called upon to decide the ambit of the word ‘owner’ in section 69A in the facts before us. This Court agrees with the High Court that the concept of ‘owner’ cannot be divorced from the context in which the expression is employed. In the case of Jodha Mal (supra), the property undoubtedly

THE INDIAN TUBE COMPANY LIMITED vs. THE COMMISSIONER OF INCOME TAX

132] ITR 559, relied on by the assessee, far from helping the appellant, goes against the contention of the learned counsel for the appellant. Construing Section 217 of the Company’s Act 1956 and the Schedule this Court held thus : "On a plain reading of cl. 7(1) (a) and (b) and cl. 7(2) above it will appear clear

COMMNR. OF INCOME TAX, TRIVANDRUM vs. M/S TRANVANCORE TITANIUM PRODUCTS LTD

132 ITR 559) the Court rejected the contention that if the redemption or appropriation of a sum out of profits and surpluses was for a unknown liability or for a liability which did not exist on the relevant date, it must be regarded as a reserve. The contention was held to be fallacious. The expressions ‘provision’ and ‘reserve’ have

COMMNR. OF CUSTOMS(PREV.), GUJARAT vs. M/S. RELIANCE PETROLEUM LTD

Section 18 of the Act and the goods were released on respondent’s furnishing a bond for a sum of Rs.5,84,32,813 along with a Bank Guarantee of Rs.58,43,281/-. 9. An Appraising Officer valued the said equipment at Rs.11,86,20,000/- as in the year of manufacture. A final assessment was 5 made upon enhancing

2TATE BANK OF PATIALA, PATIALA vs. COMMISSIONER OF INCOME TAX, PATIALA

The appeals are allowed

section 2(8) of the Act statutory deduction is defined to mean an amount equal to ten per cent of the capital Of the company as computed in accordarce with the provisions of the Second Schedule. Rule 1 of the Second Schedule mandates that the capital of the company shall be the aggregate of the amounts taking within its told