VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX

price. (v) The date of deposit of the bid amount of 92 crores by AOP-3, being the ₹ highest bid, is on November 17, 1994. 8) With the aforesaid background facts, we advert to the developments that have taken place on the income tax front. 9) Since the firm stood dissolved with effect from December 06, 1987, upto December

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

Transfer Pricing Adjustment, Capitalization of Licence Fees, 3G Spectrum Fees, Asset Restoration Cost Obligation including the effect of amalgamation of group entities which required thorough scrutiny and determination. G] During the pendency of said Writ Petition, a letter was issued by the respondent No.1 on 23.07.2018, the relevant portion of which was as under :- "The assessment years for which request

NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

price per share on 6th January, 1992, was Rs.425/-, resulting in a loss of Rs.200/- per share. Consequently, the capital loss suffered by the assessee was Rs.3,00,000/- [1500 x 200] as against the receipt of Rs.56,250/- on renunciation of 1875 PCDs. To complete the chronology of events, on 7th August, 1991, assessee sold 8460 equity shares

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. UNITED PROVINCES ELECTRIC SUPPLY CO

In the result, appeal is allowed

depreciable assets of the assessee and as per the details given in his order computed the written down value of those assets at Rs.2,06,48,985/- and determined the profit of Rs.1,29,35,557/- under Section 41(2) of the Act and added the same to the income of the assessee. In appeal before the Appellate Assistant Commissioner

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

The appeal is allowed in the above terms

Bench: HON'BLE THE CHIEF JUSTICE

depreciation. They are not collected as a consideration for providing a service; and under Article 366(29-A)(d), a tax on the sale or purchase of goods includes a tax on the transfer of the right to use goods for any purpose, without necessarily transferring the title. Section 65(105)(zzzzj) was introduced with the intention of capturing services

SHIV RAJ GUPTA vs. COMMISSIONER OF INCOME-TAX, DELHI IV

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

transfer of shares. This finding would clearly be in the teeth of Section 260-A (4), requiring the judgment to be set aside on this score. 15. Coming to the merits, the High Court found: “22. …No doubt, market price of each share was only Rs.3/- per share and the purchase price under the MOU was Rs.30/-, but the total

M/S M.S.SHOES EAST LTD. vs. COMMR.OF CUSTOMS,NEW DELHI

depreciation cannot be taken into account, despite the fact that while the Bill of Entry of the car was presented in 1996, the clearance was given on 28.3.2005. The submission of the appellant that there was delay of nine years in releasing the car from the date of import has in our opinion no relevance at all as the value

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

The appeals are allowed

transfer of technology agreement between the two parties and thus cannot but be termed to be a "technical know-how in the shape of drawings, designs, charts, plans and other literature" \026 these items have been ascribed to be a part of the plant for the purposes of depreciation allowance in terms of Sections

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

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 but not the least

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

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

price lower than the cost. The appellant was found to be the owner of the bitumen and the addition was sustained. This order was passed on 05.03.2009. 15. Thereupon, the appellant filed Review Petition No. 102 of 2009. The appellant purported to point out that in separate appeals filed for assessment year 1995-96 and 1996-97 on the same

COMMISSIONER OF INCOME TAX UDAIPUR vs. M/S CHETAK ENTERPRISES PVT. LTD

The appeal stands dismissed with no order

Bench: HON'BLE MR. JUSTICE A.M. KHANWILKAR

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 machinery or plant by the assessee.  Explanation   2.­Where   in   the   case   of   an industrial   undertaking,   any   machinery   or plant

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. AHMEDABAD URBAN DEVELOPMENT AUTHORITY

Bench: HON'BLE THE CHIEF JUSTICE

price of the newspaper is ₹2 whereas the cost of printing each newspaper is ₹12 and the deficits can be made up only through advertisements. Placing reliance on the extracts from the will of the late Sardar Dyal Singh Majithia it was urged that

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

transfer of ITC from one stage to another. Moreover, GST is a destination-based tax on consumption, and accordingly, the final burden of the tax must be borne by the customers and not the businesses. If the entire scheme of the CGST Act is perused, except for clauses (c) and (d) of Section 17(5), the ITC is not denied

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

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

The appeals are disposed of in the above terms

depreciation on the Intellectual Property Rights was rejected by the Commissioner of Income-Tax (Appeals). 4 Page 5 JUDGMENT 12. As a result of the appellate order, the Revenue was aggrieved by the deduction granted to the Assessee in respect of legal expenses and so it preferred an appeal before the Tribunal. The Assessee was aggrieved by the rejection

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

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

price of US $74.2 million in November, 2009.    4. The   assessing   officer   held   that   NNPLC   had   virtually   no financial worth, it had no business of the name and therefore it could not be believed that it could have issued convertible bonds of US$ 100 million, unless the repayment along with interest was secured. This was secured only because

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

transfer pumps, hydraulic systems, weighbridges, Diesel shunters, feed or injenction or spray nozzles, skimmers, soot blowers; with instrumentation and control systems, including load cells and metering stations. XXX XXX XXX 18. All types of Material Handling Equipments, including belt or pneumatic conveyors, ducts, hoists, bucket or jib cranes, (with or without access gangways), pipes and hoses, funnels, hoppers, disenganging lock