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

THE COMMISSIONER OF INCOME TAX JAIPUR vs. PRAKASH CHAND LUNIA (D) THR LRS

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

disallowable under Explanation 1 to Section 37(1). It is submitted that thus either way, neither can the Respondent- Assessee claim business loss due to him not being in the smuggling business nor can he claim business expenditure as the same is prohibited under Explanation 1 to Section 37(1). 3.6 Making above submissions and relying upon the above submissions

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

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

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

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

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

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

DIRECTOR OF INCOME TAX (IT)-I, MUMBAI vs. M/S. AMERICAN EXPRESS BANK LTD

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

20 (i) Basic Principles of Interpretation .................................................. 21 (ii) Interpreting Section 44C of the Act, 1961 ..................................... 28 (iii) Whether the principle of law barring exclusive expenditure under Section 44C is approved by this Court?.............................................. 49 (iv) Application to the facts at hand ................................................ 51 G. Conclusion .......................................................................... 53 Civil Appeal Nos 8291 of 2015 & 4451 of 2016 Page 2 of 55 1. Since

PR. COMMISSIONER OF INCOME TAX 6 vs. KHYATI REALTORS PVT. LTD

The appeal is allowed, in the above terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

disallowed by Explanation to Section 36(1)(vii), if claimed, has got to be added back to the total income of the assessee because the said Act seeks to tax the “real income” which is income computed according to ordinary commercial principles but subject to the provisions of the IT Act. Under Section 36(1)(vii) read with the Explanation

COMMISSIONER OF INCOME TAX 5 MUMBAI vs. M/S. ESSAR TELEHOLDINGS LTD. THROUGH ITS MANAGER

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

10 intention of the Legislature since the inception of   the   Income­tax   Act,   1961,   that   no   deduction shall   be   made   in   respect   of   any   expenditure incurred   by   the   assessee   in   relation   to   income which does not form part of the total income under the   Income­tax   Act.   The   proposed   amendment   will take effect retrospectively from 1st April, 1962 and   will   accordingly,   apply

COMMISSIONER OF INCOME TAX KOLKATA XII vs. M/S CALCUTTA EXPORT COMPANY

Bench: HON'BLE MR. JUSTICE R.K. AGRAWAL

10) Per contra, learned senior counsel appearing on behalf of the Respondent submitted that the purpose of insertion of provisions of Section 40(a)(ia) of the IT Act was to ensure the compliance of TDS provisions and not to punish those assessees who have deducted and paid the TDS to the government sooner or later. The said purpose

KERALA STATE BEVERAGES MANUFACTURING AND MARKETING CORPORATION LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1(1)

Accordingly, the civil appeal filed by the assessee is dismissed

Bench: HON'BLE MR. JUSTICE R. SUBHASH REDDY

10 C.A.@S.L.P.(C)No.12859 of 2020 etc. 11. Sri Venkataraman, learned ASG appearing for the revenue, by drawing our attention to the provisions under Articles 285 and 289 of the   Constitution   of   India,   has   explained   the   intent   behind   the amendment to Section 40 of the Income­tax Act, 1961, by Act 17 of 2013.  It is submitted that in terms

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

20 reveal that the same cannot be read in isolation as Section 245C is embedded in 245H (1). Therefore, the two provisions would have to be read harmoniously and when so read, it would emerge that in order to qualify for immunity under Section 245H, the assessee must not only co-operate with the Settlement Commission, but must also disclose

ASSISTANT COMMISSIONER OF INCOME TAX vs. RAJESH JHAVERI STOCK BROKERS PVT.LTD

The appeal is allowed without

disallowing deductions, allowance or relief. 13. One thing further to be noticed is that intimation under section 143(1)(a) is given without prejudice to the provisions of section 143(2). Though technically the intimation issued was deemed to be a demand notice issued under section 156, that did not per se preclude the right of the Assessing Officer

JEYAR CONSULTANT & INVESTMENT PVT. LTD. vs. COMMISSIONER OF INCOME TAX,MADRAS

disallowed the deduction claim of the assessee under Section 80HHC of the Act on the ground that the 'profits of the business computed under Section 80HHC indicated a negative figure'. This view was accepted by all the Courts and affirmed by this Court in the aforesaid judgment. Before this Court, submission of the appellant/assessee was that a reading of Section