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

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

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

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

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

Appeals are disposed of with the aforementioned directions

132 or books of account, other documents or any assets requisitioned under section 132A, after the 30th day of June, 1995, but before the 1st day of January, 1997; or (ba) an order passed by an Assessing Officer under sub-section (1) of section 115VZC; or (c) an order passed by a Commissioner under section 12AA or under clause

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

The appeal is partly allowed

4 ITR 280, referred to. 8. Depreciation allowance is in respect of assets used in the business and has to be calculated on the written down value. The allowance towards depreciation is for the continuation of the use of the assets wholly or in part during the accounting year and its contribution to the earning of the income. The object

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

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

4 9. Likewise, for the assessment year 1991-1992, the assessee did not file any balance sheet along with the return of income for the same reason mentioned for the assessment year 1990-1991. The return of income was filed on 22.10.1991 showing a loss of Rs.21,66,760.00. As per the revised profit and loss account, the sale proceeds

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

4 of 8 for the purpose of sur-tax. Rule 1 of the Second Schedule postulates that, subject to the other provisions contained in the Second Schedule, the capital of a company shall be the aggregate of the amounts as on the first day of the previous year, relevant to the assessment year of its paid up share capital

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

The appeals are allowed

4 of 13 total income computed for that year under the Income Tax Act shall be adjusted as follows: 1. Income, profits and gains and other sums falling within the following clauses shall be excluded from such total income, namely: xxxx xxxx xxxx (xi) in the case of a banking company (a) any sum which during the previous year

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

4 6. Respondent claimed the benefit of concessional rate of duty in terms of the said notification showing the value of the imported item to be US $ 34,84,500 (CIF). The said declaration of valuation was made for custom purposes only. 7. On the premise that the value declared therein was inadequate and/or ingenuine, the valuation thereof was assessed

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