SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

10. On top of that, section 4 relied upon by Mr. Agarwal merely provides for an enactment as regards rate of tax to be charged in any particular assessment year which has no application to the case before us. Section 11 of the Finance (No. 2) Act, 2004 by which sub-clause (ia) was added to 45 section

THE SOUTH INDIAN BANK LTD. vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE HRISHIKESH ROY

20. Applying the same logic, the disallowance would be legally impermissible for the investment made by the assessees in bonds/shares using interest free funds, under Section 14A of the Act. In other words, if investments in securities is made out of common funds and the assessee has available, non-interest-bearing funds larger than the investments made in tax- free

MADHAV PRASAD JATIA vs. COMMISSIONER OF INCOME TAX, U.P., LUCKNOW

section 10(2) (xv) of the Act. [756F-H, 757A] Commissioner of Income Tax, Bombay City II v. Bombay Samachar Ltd., Bombay, 74 ITR 723; Commissioner of Income Tax, Bombay City IV v. Kishinchand, 109 I.T.R. 569; distinguished. (d) Both the Tribunal as well as the High Court were right in taking the view that the certificate dated October

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

10 of 21 In CIT vs. Shri Someshwar Sahakari Sakhar Karkhana Ltd. [(1989) 177 ITR 443 (Bom.)] two issues were raised. One issue was whether the assessee had a choice in the matter of claiming a deduction on account of depreciation and the second issue was whether, having claimed in the original return, the Income-tax Officer was entitled

THE BANK OF RAJASTHAN LTD. vs. COMMISSIONER OF INCOME TAX

Appeals are dismissed

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

disallowed it under the income under   the   head   “interest   on   securities”.     The   Appellate Tribunal confirmed the view. This Court, in paragraphs nos. 3 to 7, held thus:  “3. Learned counsel for the Revenue argued that the   income   from   business   and   securities   fell under different heads, namely, Section 10 and Section 8 of the Act respectively, that they were mutually   exclusive

COMMISSIONER OF INCOME-TAX, KERALA, ERNAKULAM vs. TRAVANCORE SUGAR & CHEMICALS LTD

section 2 of Sec. 10 is confined tothe payments wholly and exclusively laid out for the purpose of businessin which expenditure of a revenue nature would also be included along with the expenditure of various other categories. The contention that the said clause covers expenditure of both the capital and revenue nature and also payments wholly and exclusively laid

SHITAL FIBERS LTD. vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

disallowed. 7. The appeal preferred by the appellant against the said Order was dismissed by Commissioner of Income Tax (Appeals). In appeal preferred by the appellant before the ITAT, the appellant was unsuccessful. Thereafter, an appeal was 3 304 ITR 319 Civil Appeal No.14318 of 2015 etc. Page 3 of 20 preferred before the Punjab and Haryana High Court which

THE COMMISSIONER OF INCOME-TAX, BOMBAY CIRCLE II vs. THE NATIONAL SYNDICATE, BOMBAY

disallowed this deduction, holding that the loss was of a capital nature, and that inasmuch as the business of the respondent was not carried on after August 1945 s. 10(2)(vii) was not applicable. This order of assessment was confirmed by the Appellate Assistant Commissioner, who also held that the loss represented capital loss, as the machines

ASSAM BENGAL CEMENT CO. LTD. vs. THE COMMISSIONER OF INCOME-TAX,WEST BENGAL

disallowed as being expenditure of a capital nature and so not allowable under section 10(2) (xv) of the Indian Income-tax Act ". The High Court answered the question in the affirmative and hence this appeal. Clauses 4 and 5 of the deed of lease may be here set out :- 4. The lessee shall pay to the lessor

COMMISSIONER OF INCOME-TAX BOMBAY vs. MAHARASHTRA SUGAR MILLS LTD. BOMBAY

In the result this appeal fails and the same is dismissed

disallowed a sum of Rs. 1,26,359/- on the ground that the same relates to the commission of the managing agents for managing the sugar cane cultivation part of the business. In appeal, the Appellate Assistant Commissioner concurred with the view taken by the Income-tax Officer. The assessee took up the matter in second appeal to the Income

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

20. The learned counsel submitted that there is no conflict between Section 17(5)(d) and Section 16(3). He submitted that Section 16(3) applies to “plant and machinery” and not to “plant or machinery”. He submitted that even assuming that Section 16(3) applies to plant or machinery, the effect of the provision is that if the registered

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

Bench: HON'BLE THE CHIEF JUSTICE

disallowances. In terms of this scheme, Section 40 (which too starts with a non- obstante clause overriding Sections 30-38), deals with what cannot be deducted in computing income under the head “Profits and Gains of Business and Profession”. Likewise, Section 40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible

.M. SALGAOCAR & BORS. VS COMMISSIONER OF INCOME TAX

Accordingly Civil Appeal No. 657 of 1994 is allowed and Civil Appeal Nos

20 of the Memorandum explaining the provisions of the Finance Bill, 1985, stated mat, as a measure of relief to salaried taxpayers, the Bill seeks to omit the aforesaid provisions with effect from the date of its proposed insertion, namely, April 1, 1985. In consequence thereof, sub-clause (vi) of clause (b) in Explanation 2 to section

DHARAMVIR DHIR vs. THE COMMISSIONER OF INCOME-TAX,BIHAR & ORISSA

section 10(2)(xv) of the Indian Income-tax Act?" The facts of the appeals are these: The appellant was an employee of M/s. Karam Chand Thapar & Bros. and for each of the accounting years relating to the assessment years 1947- 48 and 1948-49 his salary was Rs. 10,572. He also had an income of Rs. 500 from

COMMISSIONER OF INCOME TAXGUJARAT III, AHMEDABAD & ANOTHER vs. KURJI JINABHAI KOTECHA

In the result the judgment of the High Court is set

disallowed this loss on the ground that it arose out of illegal contracts on account of the same being banned Under section 15(4) of the Forward Contracts (Regulation) Act, 1952. It will appear that the break-up of losses in the busi- ness of illegal forward contracts is as follows :-- ( 1 ) Groundnut oil Account Rs. 49,664/- (2) Groundnut

SHARP BUSINESS SYSTEM THR. FINANCE DIRECTOR MR. YOSHIHISA MIZUNO vs. COMMISSIONER OF INCOME TAX-III N.D

The appeals are hereby disposed of in terms of

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

20,853.00. Initially the return was processed under Section 143(1) of the Act but subsequently the case was selected for scrutiny during which proceedings, assessee filed a revised 13 return increasing its loss. It also submitted a note on the admissibility of depreciation on intellectual property rights and on non-compete fee on 23.02.2000. Assessee stated that

M/S. BALLIMAL NAVAL KISHORE & ANR. vs. COMMISSIONER OF INCOME TAX

Accordingly fails and is dismissed

disallowed the same. According to him it was capital expenditure. On Appeal, Appellate Assistant Commissioner affirmed the view taken by the Income tax Officer. On further appeal, however, the Tribunal upheld the assessee’s case whereupon the following question was referred to the Bombay High Court under Section 66(1) of the Indian Income Tax Act, 1922, at the instance

SHAH ORIGINALS vs. COMMISSIONER OF INCOME TAX 24 MUMBAI

Bench: HON'BLE MR. JUSTICE S.V.N. BHATTI

disallowing the deduction under Section 80 HHC, in the facts and circumstances of the case, are valid and tenable. 9. We have perused the citations Mr. V. B. Gupta, learned counsel appearing for the assessee, has placed a strong reliance on. The cases relied on by the assessee are clearly distinguishable on the point of deciding the appeal. The ratio