M/S. TECHNO SHARES & STOCKS LTD. vs. COMMISSIONER OF INCOME TAX-IV

depreciation was not admissible under Section 32(1)(ii). 14. To decide the above controversy, we need to examine the Rules of BSE. 15. Rule 5, quoted above, states that membership shall constitute a personal permission from the Exchange to exercise the rights and privileges attached thereto. Rule 6 inter alia states that membership shall not be alienable. Rule

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

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. I.C.D.S. LTD. vs. COMMISSIONER OF INCOME TAX

The appeals are allowed; the impugned

Section leaves no choice to the lessor but to allow the vehicle to be registered in the name of the lessee Thus, no inference can be drawn from the registration certificate as to ownership of the legal title of the vehicle; and (iii) if the lessee was in fact the owner, he would have claimed depreciation on the vehicles, which

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

depreciation simultaneously. In a similar vein, he submitted that if the submission is accepted, even Sections 18(6) and 29(5) will not apply to plant or machinery falling under Section 17(5)(d). b. For identifying what would constitute plant and machinery/plant or machinery, it is not necessary to refer to decisions under the Income

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

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

27. Section 144 provides for best judgment assessment. It says that if any person fails to submit a return under sub-section (1) of Section 139 or fails to comply with the terms of a notice under sub- section (1) of Section 142 or having made a return fails to comply with all the terms of a notice issued under

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

27. Learned counsel next contended that on a proper and true interpretation of the amendment to Section 43A, introduced by Finance Act, 2002, Section 43A is clarificatory. According to the learned counsel, the occasion for the clarificatory amendment arose in view of the judgments of the various High Courts, which interpreted the unamended provision as laying down the proposition that

M/S MANGALORE GANESH BEEDI WORKS vs. COMMISSIONER OF INCOME TAX, MYSORE

The appeals are disposed of in the above terms

27. The High Court denied any benefit to the Assessee under Section 35A and Section 35AB of the Act since it was held that what was auctioned off was only goodwill and no amount was spent by AOP-3 towards acquisition of trademarks, copyrights and know-how. In coming to this conclusion, reliance was placed on the Report

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

27 Commission and has made “full and true disclosure of his income”, the Settlement Commission may grant immunity from prosecution and penalty. It is the case of the Revenue that Section 245H (1) cannot be read in isolation as Section 245C is embedded in 245H (1), and hence, both the Sections must be read harmoniously. That when so read

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

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

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

Appeals are disposed of with the aforementioned directions

27 whereof confers power in the Commissioner of Income-tax, Delhi-VII, Delhi to exercise jurisdiction in respect of offices of the Income Tax Assessing Officer situate at Civil Lines (No. 114). 23. Before, however, adverting to the jurisdictional issue raised by the Assessee herein, we may consider the jurisdiction of the Commissioner of Income-tax to issue notice

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

depreciation. However, under the PSC, instead of increasing the value of expenditure incurred on account of currency variation in the expenses itself, EOGIL was required to book losses separately. Therefore, PSC represented an independent regime. The shares of the Government and the contractors were also determined on that basis. Section 42 is inoperative by itself. It becomes operative only when

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

Bench: HON'BLE THE CHIEF JUSTICE

27. The learned ASG further submitted that Section 43B which was applicable to employers' contribution to any provident fund or any other fund for the welfare of the employees, and the amendment to Section 43B, which enacted that any such amount of employers' contribution was deposited by the employer on or before the due date of filing of the return

JT.COMMR.OF INCOME TAX,SURAT vs. SAHELI LEASING & INDUSTRIES LTD

Appeals stand allowed as mentioned hereinabove but with

depreciation, the taxable income of the Assessee was NIL and hence, there was no tax liability. According to Assessee, in such a case no penalty under Section 271 (1) (c) could have been levied. 16. Deputy Commissioner of Income tax, Special Range-2, C.As. @ SLP (C) No. 5241 of 2007 etc…. (contd.) 7 Surat, on the basis of the discussion

KILLICK NIXON LTD., MUMBAI vs. DEPUTY COMNR. OF INCOME TAX,MUMBAI

In the result, we allow the appeal, set aside the judgment of the High

Section 143(3) of the Act disallowing certain claims and rejecting the contentions of the assessee. The appellant filed an appeal before the Commissioner of Income Tax (Appeals). The Appellate Authority by its order dated 25.09.1998 confirmed the order of the Assessing Officer in respect of the following items: (a) Premium amount of Rs. 3,57,153.00 (b) Depreciation

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

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 Tax Act, 1922. Whether

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

27 of 59 Civil Appeal No.7722 of 2021 and Civil Appeal No.7731 of 2021 in the hands of banks and financial institutions. Above all, ultimately, the interests of all stakeholders are looked after as the corporate debtor itself becomes a beneficiary of the resolution scheme—workers are paid, the creditors in the long run will be repaid in full