COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

iii) actual cost of assets acquired during the previous year; (iv) capital expenditure on additions or alterations; (v) period of user only where return relates to assessment year 1969-70 or any earlier year; (vi) amount of moneys payable and scrap value in respect of assets sold, discarded, demolished or destroyed; (vii) amount on which depreciation is allowable total

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

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

49 and other sub-sections deal with how ITC can be availed. Under sub-section (1) of Section 16, a registered person is entitled to take credit of the input tax charged on any supply of goods or services or both to him, which are used or intended to be used in the course of or in furtherance

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

Section 43A of the 1961 Act. At this stage, we are concerned only with para 9 which deals with revenue items. Para 9 of AS-11 16 recognises exchange differences as income or expense. In cases where, e.g., the rate of dollar rises vis-à-vis the Indian rupee, there is an expense during that period. The important point

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

depreciation in investments in the Balance Sheet under “Current Liabilities and Provisions” and that such provision for each year shall be debited to P&L Account so that a true and correct figure of “Net Profit” gets reflected in the financial accounts of the company. The effect of such Disclosure is to increase the current liabilities by showing the provision

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

iii) any undertaking which develops, develops and operates or maintains and operates an industrial park notified by the Central Government in accordance with the scheme framed and notified by that Government for the period beginning on the 1st day of April, 1997 and ending on the 31st day of March, 2002 : Provided that in a case where an undertaking develops

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

Appeals are disposed of with the aforementioned directions

49% to the gross sales. For the earlier assessment year, i.e. 1999-2000, the proportion of the net profit to the total sales was as high as 66% because out of the total sales of Rs. 2,97,12,106/- net profits were declared to be to the tune of Rs.1,96,77,631/-. For the subsequent three assessment years

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

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

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

Appeals are allowed accordingly

III, HYDERABAD, DATE OF JUDGMENT: 17/01/1996 BENCH: MAJMUDAR S.B. (J) BENCH: MAJMUDAR S.B. (J) JEEVAN REDDY, B.P. (J) CITATION: 1996 AIR 1066 1996 SCC (7) 454 JT 1996 (1) 416 1996 SCALE (1)432 ACT: HEADNOTE: JUDGMENT: J U D G M E N T S.B. Majmudar, J. Leave granted in all these petitions. By consent of learned advocates

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

1: Rational & Design (November 2015), available at , last accessed 06-07-2022. Page 28 of 59 Civil Appeal No.7722 of 2021 and Civil Appeal No.7731 of 2021 31. In the Fifth Report of the Insolvency Law Committee, May, 2022 published by the Ministry of Corporate Affairs, Government of India29, while examining whether the role

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

The appeals are allowed

iii) Whether goods, as described in (a) & (b) above, can be considered as "Printed Book" classifiable under Chapter 49 of the Customs Tariff in order to avail the benefit of Notification Nos. 107/93-Cus and 38/94-Cus?" It was urged that CEGAT had allowed appeals filed by the Company, Chairman-cum-Managing Director and Director and dismissed the appeals filed

M/S. VIKRAM CEMENT vs. COMMNR. OF CENTRAL EXCISE, INDORE

depreciation under section 32 of the Income-tax Act, 1961 (43 of 1961), or as revenue expenditure under any other provisions of the said Income-tax Act, in respect of that part of the value of capital http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 13 of 21 goods which represents the amount of specified duty on such capital goods

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

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

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

49 of 67 i) In the case of V.V.R.N.M. Subbayya Chettiar (supra), it is observed in paragraph 10 as under: “10. The principles which are now well established in England and which will be found to have been very clearly enunciated in Swedish Central RailwayCo. Ltd. v. Thompson (Inspector of Taxes) [Swedish Central Railway Co. Ltd. v. Thompson (Inspector

VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

depreciable assets. For the purposes of calculation/ computation, figures were taken from Table II incorporated in the Assessment Order itself mentioning the market value of these assets. This Table II reads as under: S.No. Asset %age Sales/Market Value Amount in assessee's case 1. Land as per H.S. Seshagiri – Registered Valuer

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

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

iii) The authorised officer may, having regard to the status of the family and the custom and practices of the community to which the family belongs and other circumstances of the case, decide to exclude a larger quantity of jewellery and ornaments from seizure. This should be reported to the Director of Income- tax/Commissioner authorising the search at the time

COMMNR. OF CUSTOMS, NEW DELHI vs. M/S. PARASRAMPURIA SYNTHETICS LTD

iii) A book is a priced publication, (iv) The book is available to all and sundry who pay for it, (v) The book does not have a Memorandum of Understanding; (vi) There is no confidentiality about the book; (vii) A book has a subject to deal with; (viii) the pages are serially numbered and neatly bound; and (ix) the last