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

disallowed otherwise through a statute. This Court in SC Kothari (supra) had merely laid down the general proposition of law by taking note of the position prevailing in other countries, but in any case, it has got no application over a case of either a penalty or confiscation. 21.2 The law as laid down in Haji Aziz (supra) despite being

COMMISSIONER OF AGRICULTURAL INCOME TAX, TRIVANDRUM vs. SMT. LUCY KOCHUVAREED

The appeals are allowed, but in the circumstances of the case we make no

disallowance of Rs. 2500/- for 1959-60 and Rs. 3500/- for 1960-61 towards upkeep and maintenance of immature area is irregular as it is not based on any rational method. The orders of assessment for these years are therefore set aside and the cases are remanded to the Agricultural Income-tax Officer, Trichur, for fresh disposal according

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

In the result this appeal fails and the same is dismissed

disallowing a proportionate part of the interest referable to money borrowed for the purchase of securities whose interest was tax-free. In the course of the Judgment Subba Rao, J. (as he then was) observed: "In our opinion,, in construing the Act, we must adhere closely to the language of the Act. If there is ambiguity in the terms

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

10 Sub-section (2) was inserted by the Finance Act, 2002. 11 Sub-section (3) was inserted by the Finance (No.2) Act, 2004, w.e.f. 01.04.2005. 26 to in that sub-section does not deduct the whole or any part of the tax or after deducting fails to pay the tax as required by or under this

COMMISSIONER OF INCOME TAX WEST BENGAL - I, CALCUTTA. vs. ASSOCIATED ELECTRICAL INDUSTRIES (INDIA) PRIVATE LIMITED

In the result, we hold that the High Court is right in

Sections 10(2) (xv) and 10(4)(C). Company - Pension and Life Assurance Plan for employees Company contributing to premium - Plan rules amended to make direct payment of policy amount to members - Company having no control over money - Expenditure incurred on contribution by company to Plan - Whether an allowable deduction. HEADNOTE: The assessee, is a firm carrying on the business

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

34 (2004) 10 SCC 201 Civil Appeal No.2948 of 2023 etc. Page 29 of 91 f. The learned ASG also dealt with the services on tax and work contracts in the pre-GST regime. Relying upon the definition of “works contract” in Article 366 (29A)(b) of the Constitution, he submitted that what is taxed cannot be a taxation

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

COMMISSIONER OF INCOME-TAX, WEST BENGAL-IICALCUTTA vs. KALYANJI MAVJI & COMPANY

The appeal is dismissed with costs

Section 10(2)(xv) should be construed liberally. [763 B] In the instant case even if the expenditure made by the assessee cannot be described as "current repairs" he is entitled to invoke the benefit of s. 10(2)(xv). [763 C] 5. Whether an expenditure can be described as capital or revenue falls to be decided by serial tests

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

MESSRS. CALCUTTA COMPANY LTD. vs. THE COMMISSIONER OF INCOME-TAX,WEST BENGAL

34 I.T.R. 10, 14. (2) (1932) L.R. 59 I.A. 290, 296. (3) (1892) 3 T.C. 185. (4) (1931) L.R. 58 I.A. 239, 252. 199 for the accounting year as against the receipts of Rs. 43,692-11-9 which represented the sale proceeds of the said lands. Even under s. 10(2) of the Income-tax Act, it might. possibly

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

34 13.10. Adverting to Section 2(14) of the Act, Mr. Datar submits that ‘capital asset’ has been defined to include property of any kind held by an assessee. The word ‘property’ is defined in the Explanation to sub-section (14) of Section 2 to include and always be deemed to have included rights of management or control

MARUTI SUZUKI INDIA LTD. (EARLIER KNOWN AS MARUTI UDYOG LTD.) vs. COMMISSIONER OF INCOME TAX DELHI

The appeals are dismissed

Bench: HON'BLE MR. JUSTICE ASHOK BHUSHAN

10 claimed. Section 43B is as follows: “43B.Certain   deductions   to   be   only   on actual   payment.­Notwithstanding   anything contained   in   any   other   provision   of   this Act, a deduction otherwise allowable under this Act in respect of— (a) any sum payable by the assessee by way of   tax,   duty,   cess   or   fee,   by   whatever name called, under any law for the time

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

disallowed the deduction/debit. This fact is important. It indicates the double standards adopted by the Department. 11. The dispute in this batch of civil appeals centers around the year(s) in which deduction would be admissible for the increased liability under Section 37(1). 12. We quote hereinbelow Section 28(i), Section 29 Section 37(1) and Section

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

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

34 of 55 account the object and purpose behind inserting Section 44C, held as follows: “On a combined reading of the said Explanatory Memorandum as well as the said circular issued by the Central Board of Direct Taxes, it is clear that this section is intended to be made applicable only in the cases of those non-residents who carry

THE COMMISSIONER OF INCOME-TAX,MYSORETRAVANCORE-COCHIN AND vs. THE INDO MERCANTILE BANK, LIMITED(and connected appeal)

In the result the appeals fail and are dismissed with costs

disallowing a deduction of the losses in British India and in States other than Travancore State against profits made in Travancore State: Rhondda Urban Council v. Taff Vale Railway (1) and Harrison v. Ward (2). It may be mentioned that in the majority of cases decided in India the proviso to s. 24(1) of the Indian Act has been

COMMISSIONER OF INCOME-TAX, MADRAS vs. R.M. CHIDAMBARAM PILLAI ETC

34) RF 1991 SC1806 (8) ACT: Income Tax Act, 1922--S. 16(1)(b)--Income Tax Rules 1922--r. 24 Scope of-- Assessees partners in firms owning tea estates Salary paid to partners If whole salary exigible to tax. HEADNOTE: Rule 24 of the Income Tax Rules, 1922 states that income derived from the sale of tea grown and manufactured

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