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

Section 11 of the Act. 45. Applying the aforesaid principle to the facts of the present case, we are in agreement with the view expressed by the Tribunal and the High Court that there is no requirement under the second proviso to sub-rule (1A) of Rule 5 of the Rules that any particular mode of computing the claim

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

45) of Act defines “total income” as- 19 Page 20 JUDGMENT "total income" means the total amount of income referred to in section 5, computed in the manner laid down in this Act ;” 22. Section 5 of the Act lays down the “scope of total income” as- “5. (1) Subject to the provisions of this Act, the total income

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

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

45 entitled to some beneficial interest in the property? It must be remembered that Section 9 brings to tax the income from property and not the interest of a person in the property. A property cannot be owned by two persons, each one having independent and exclusive right over it. Hence for the purpose of Section 9, the owner must

NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

45 and references to fifteen thousand rupees in clauses (a) and (b) of this sub-section shall be construed as references to such reduced amount, if any. Explanation: For the purposes of this section,-- [a] `venture capital company' means such company as is engaged in providing finance to venture capital undertakings mainly by way of acquiring equity shares of such

COMMNR. OF CUSTOMS (GENERAL), N. DELHI vs. GUJARAT PERSTORP ELECTRONICS LTD

The appeals are allowed

depreciation allowance in terms of Sections 32 and 43(3) of the Income Tax Act. Merely by reason of the factum of certain writings on various sheets of paper, one cannot ascribe the documentation to be a "book". The word "book" has not been defined in the Act but the "book" in common acceptation is a literary composition from which

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

45 of 1860) or under any Central Act other than this Act and the Wealth-tax Act, 1957 (27 of 1957) to a person who makes an application under section 245C on or after the 1st day of June, 2007. (1A) An immunity granted to a person under sub-section (1) shall stand withdrawn if such person fails

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 and ITC. 29. Now we come to sub-Section (4) of Section 16. Before the amendment made by the Finance Act, 2022, the sub-section read thus: “16. .. .. .. .. .. .. .. .. .. (4) A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after

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 Balance Under- Assessment 1990-91 90079199 4329815 85749384 6324989 1991-92 82124877 6222432 75902441 5598817 1992-93 72294757 3575079 68719678 5068892 Total under-assessment 16992728 42 In view of the above, I have reason to believe that by reason of omission or failure on the part of the assessee to disclose fully and truly all material facts necessary

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

depreciation. From the viewpoint of creditors, a good realisation can generally be obtained if the firm is sold as a going concern. Hence, when delays induce liquidation, there is value destruction. Further, even in liquidation, the realisation is lower when there are delays. Hence, delays cause value destruction. Thus, achieving a high recovery rate is primarily about identifying and combating

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

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

45 of 67 vi) That two persons who had been identified to have handled the business and supervised it, namely, H.L. Verma and Uma Shankar Sitani were produced by the assessees for their statements to be recorded. The High Court found that Mr. R.K. Goswami, Mr. Vedant Mehta and Mr. Rajiv Jain had all become directors on the request

M/S. SARAF EXPORTS vs. COMMISSIONER OF INCOME TAX, JAIPUR - III

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

depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of the installation of the machinery or plant by the assessee. Explanation 2.—Where in the case of an industrial undertaking, any machinery or plant

COMMNR. OF CUSTOMS, MUMBAI vs. M/S. BUREAU VERITAS

45,19,057 was imposed and separate penalties under section 112(a) of the Act were imposed on Bureau Veritas and Jean Paul Rabier. The Commissioner found that the transaction value in terms of Rule 4 of the Customs Valuation Determination of Price of Imported Goods Rules, 1988 (in short the ‘Rules’) of the rig was the price paid

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

depreciation, renewals, etc. or providing for any known liability. Under Part – I of Schedule – VI, ‘reserve’ can be made in respect of capital reserves, capital redemption, share premium, etc. 6. Provision cannot be used to declare dividend, etc. Reserves can be utilized to pay dividends/ bonus, unless there is a statutory bar. Lastly, on the question of adding back

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

Bench: HON'BLE THE CHIEF JUSTICE

depreciation). Each of these deductions, has its contours, depending upon the expressions used, and the conditions that are to be met. It is therefore necessary to bear in mind that specific enumeration of deductions, dependent upon fulfilment of particular conditions, would qualify as allowable deductions: failure by the assessee to comply with those conditions, would render the claim vulnerable

VODAFONE IDEA LTD(EARLIER KNOWN AS VODAFONE MOBILE SERVICES LIMITED vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 26 (2)

Bench: HON'BLE THE CHIEF JUSTICE

depreciation as claimed and by taxing the interest income of Rs.1,07,85,590 as income from other sources and thus raised the demand of Rs. 1,30,83,741 under various heads and sections of taxes, surcharge and additional tax under Sections 143(1A), 234A and 234B. 4. Mr. Shah, learned counsel appearing for the assessee, has contended that

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

Appeals are disposed of with the aforementioned directions

45. As a result of our decision on ground Nos. 1 to 5 cancelling the impugned order passed by the learned CIT u/s 263, the other grounds raised by the assessee in this appeal have been rendered only of academic nature. We, therefore, do not deem it necessary or expedient to consider and decide the same on merits

ASSTT DIRECTOR OF INCOME TAX I NEW DELHI vs. M/S E FUNDS IT SOLUTION INC

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

45 providers (who are customers of eFunds US), to check on the status of applications made for new connections, change in billing plans etc. Note: Logica Global, an independent company, had received an order from the Reserve Bank of India for development and implementation of certain software. A part of this work was subcontracted to eFunds India directly by Logica