MALAYALA MANORAMA CO LTD. vs. COMMR.OF INCOME TAX, TRIVANDRUM

The appeals are allowed and the

73 or Section 74 or sub-section (3) of Section 74-A or sub- section (3) of Section 80-J.\024 A new Chapter XII-B containing section 115J was inserted by the Finance Act, 1987 with effect from Ist April, 1988. This new section made provisions for levy of minimum tax on book profits of certain companies. The scope

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

depreciation; or (iv) the amount of profits derived by an industrial undertaking from the business of generation or generation and distribution of power; or (v) the amount of profits derived by an industrial undertaking located in an industrially backward State or district as referred to in sub-section (4) and sub- section (5) of section 80-IB, for the assessment

COMMISSIONER OF INCOME TAX, KOLKATA vs. M/S. HOOGHLY MILLS CO. LTD

The appeal is allowed

depreciation on the sum under Section 32 of the Income Tax Act. The CIT (Appeal) as well as the tribunal allowed the assessee’s claim and their orders were upheld by the High Court by the impugned judgment. Learned counsel for the appellant contended in this appeal that the expenditure on the taking over the gratuity liability of the employees

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

COMMNR. OF INCOME TAX, UDAIPUR vs. MCDOWELL & CO. LTD

The appeal is disposed of

Bench: The High Court Are As Follows: (1) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Holding That The Unpaid Amount Of Bottling Fee Has, On Furnishing Of The Bank Guarantee, To Be Treated As Actual Payment & Accordingly Allowing The Deduction In Respect Of The Same Under Section 43B Of The Act, Even Though The Sum Has Not Been Actually Paid Before The Due Date Of Filing The Return Under Section 139(1) Of The Act. (2) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Allowing The Depreciation On Research & Development Assets Which Related To The Closed Business Of Fast Food Division/Unit Of The Assessee-Company As Such Not Used During The Previous Year? (3) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Deleting The Addition Of Rs.2,77,887/- 2

depreciation on research & development assets which related to the closed business of fast food division/unit of the assessee-company as such not used during the previous year? (3) Whether on the facts and in the circumstances of the case, the I.T.A.T. was justified in deleting the addition of Rs.2,77,887/- 2 being made treating the expenditure incurred in purchase

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 under the head “it is more beneficial to it”. He submitted that in the modern era, theatre building and hotel building are integral part of operation for carrying out such business and, therefore, such building should be considered as a “plant”. Ultimately, in paragraph 67, this Court held thus: “67. In the result, it is held that the building

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

COMMISSIONER OF SERVICE TAX vs. M/S ADANI GAS LTD

The appeal is allowed in the above terms

Bench: HON'BLE THE CHIEF JUSTICE

73,526/-. Penalties were imposed under Sections 77 and 78 of the Finance Act 1994. 7 The respondent assailed the order of adjudication before the Tribunal. By its judgment dated 05 April 2019, the Tribunal allowed the appeal filed by the respondent. The Tribunal observed that the SKID equipment is installed by the respondent at the customers’ site

VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

Section 583(4)(a) thereof. The said petition was registered as Company Petition No. 1 of 1988. Significantly, though the firm stood dissolved on December 06, 1987, and thereafter Company Petition No. 1 of 1988 for the winding up proceedings after dissolution was filed in the High Court, the business of the partnership firm continued because of the interim order

COMMISSIONER OF INCOME TAX-I vs. M/S RELIANCE ENERGY LTD (FORMERLY BSES LTD.) THROUGH ITS M.D

The Appeal is dismissed qua the issue of the extent of deduction under

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

depreciation. 2 | P a g e The Assessing Officer considered the revised claim of the Assessee under Section 80-IA and determined the amount eligible for deduction under Section 80-IA at Rs. 492,78,60,973/- against the Assessee’s claim of Rs. 546,26,01,224/-. However, the Assessing Officer stated in the assessment order that the actual

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

73,402 5. 05.04.2019 EPCG   License   No. 5230006881   dated 31.03.2010 Rs. 6,64,646 3 6. 07.04.2019 EPCG   License   No. 5L32206936   dated 20.04.2010 Rs. 12,04,09,501 5 On   25.04.2019,   the   NCLT   passed   an   order   commencing liquidation against the Corporate Debtor under Section 33(2) of the IBC. Vide the said order, the NCLT declared that the earlier moratorium

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

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. He contended that, in the case of the present appellant, the giving effect order made by the CIT (Appeals) had not been fully worked out by the Assessing Officer as income under the four heads i.e. a) disallowance of bad debts to the extent of Rs. 68,02,046.00; b) income from house property to the.extent

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

73 I.T.R. 53 this Court was concerned whether appropriation amounted to reserve or provision. Dealing with the question of payment of bonus to the workmen and appropriation thereof on that account, this Court held that the distinction between a provision and a reserve was in commercial accountancy fairly well known. Provision were made against anticipatory losses and contingencies were charged

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

73 ITR 53) it was held in Vazir Sultan’s case (supra): "In other words the broad distinction between the two is that whereas a provision is a charge against the profits to be taken into account against gross receipts in the p & l http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 3 of 5 account, a reserve is an appropriation

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