ASST. COMMR. OF INCOME TAX, MADRAS vs. THANTHI TRUST

disallow the claim of the Trust for exemption under Section 4(3)(i) of the Income Tax Act, 1922 for the Assessment Years 1955-56 to 1961-62. The Trust challenged the correctness of the tentative decision by filing a writ petition in the High Court of Judicature at Madras. On 25th June, 1961 the trustees of the Trust took

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

Bench: HON'BLE THE CHIEF JUSTICE

B. ESI Regulations: “31. Time for payment of contribution - An employer who is liable to pay contributions in respect of any employee shall pay those contributions within 21 days of the last day of the calendar month in which the contributions fall due” (Emphasis supplied) 8. A circular7 had explained the rationale for introduction of Section 43B: "Disallowance of unpaid

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

13 has been stated that multiple issues on which addition have been made giving rise to the demand liabilities, and several of such issues are also recurring in nature. … … … 10. That it is also submitted that the order dated 23rd July, 2018 passed by the Assessing Officer is an order under Section 143(1)(D) for the assessment years

M/S MUNJAL SALES CORPORATION vs. COMMR.OF INCOME TAX,LUDHIANA

13. Whether the claim for special deduction made by the assessee exclusively came only under Section 40(b)(iv) and that it never came under Section 36(1)(iii) of the 1961 Act as argued on behalf of the assessee? Legal Position Explained 14. Before enactment of FA 1992, broadly speaking, payment of interest by the firm to any partner

RAJASTHAN STATE ELECTRICITY BOARD JAIPUR vs. THE DY. COMMISSIONER OF INCOME TAX (ASSESSMENT)

In the result, we allow the appeal, set aside the

Bench: HON'BLE MRS. JUSTICE R. BANUMATHI

B), as the case may be.” 13. The amendments brought by Finance Act, 1993 with retrospective effect i.e. from 01.04.1989 are fully attracted with regard to assessment in question i.e. for assessment year 1991-92. The substituted sub- section (1-A) makes it clear that where the loss declared by an assessee had been reduced by reason of adjustments made

MODI INDUSTRIES LIMITED, MODINAGAR vs. COMMISSIONER OF INCOME-TAX, DELHI

The appeals are allowed in the above

13 of 39 assessment" in Section 214(1). We may forewarn that this is one of those questions which does not admit of one clear-cut answer. The very difference of opinion among the several High Courts in the country and the several shades of opinion expressed by them bear eloquent testimony to it. Whichever view one adopts

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

13 SCC 225 Civil Appeal No.2948 of 2023 etc. Page 24 of 91 c. In response to the principles for examining the constitutional validity of taxation statutes, he submitted that the test of vice of discrimination in a taxing statute is less rigorous. He submitted that the Parliament is entitled to make policy choices and adopt appropriate classifications given

PR. COMMISSIONER OF INCOME TAX CENTRAL 3 vs. ABHISAR BUILDWELL P. LTD

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

B for which information available. AO not entitled to reopen entire assessment and undertake Assessmen t u/s 153A could only be done in respect of issue A relating to which incriminatin g material is found during search. On conclusion of assessmen t u/s 153A, Revenue may, basis other information, proceed u/s 147 and/or 263. CA No. 6580/2021 Etc. Page

ENGINEERING ANALYSIS CENTRE OF EXCELLENCE PRIVATE LIMITED vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

disallowance of the deduction under section 40(a)(ia) of the Income Tax Act, end up paying tax of a huge amount, way beyond the commission, resulting in extreme financial hardship. Thus, if section 195 of the Income Tax Act could be construed in a manner so as to avoid such a result, this must be done. Further, he relied

M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE

Section 45IC, the “Provision for NPA” can never be treated as one more another type of reserve. Coming to the accounting treatment, the appellant has given us the following chart to bring out the difference between “provision” and “reserve”: S.No. Provision Reserve 1. Provision is a charge or debit to the P& L Account. Reserve is an appropriation of profits

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

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 it had entered into an agreement with M/s. Pentamedia Graphics Limited for acquisition of the software development and training division. In the agreement dated 23.02.2000, there was a clause relating

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

B(5) are relevant. Section 80-AB has been given an overriding effect over all other sections in Chapter VI-A. Section 80-HHC would thus be governed by Section 80-AB which makes it clear that the computation of income has to be in accordance with the provisions of the Act. Moreover, even under Section

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

13 of 21 404 (AP)] for the Assessment Year 1979-80 the assessee, a company, filed its return of income showing a loss of over rupees one crore. Later, a revised return was filed showing a loss of over rupees one crore though for a lesser amount than in the original return. Income-tax Officer, however, computed the current profit

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

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

DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

disallowed as a deduction), such person shall, unless he proves that the failure to return the correct income did not arise from any fraud or any gross or willful neglect on his part, be deemed to have concealed the particulars of his income or furnished inaccurate particulars of such income for the purposes of clause ( c) of this sub- section

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

13 C.A.@S.L.P.(C)No.12859 of 2020 etc. another licence holder, viz., to Kerala State Co­operatives Consumers’ Federation Ltd., the High Court has held that there is no exclusivity so far as FL­1 licences are concerned.  It is the contention of the learned counsel that the disallowance under Section 40(a)(iib) is not contingent upon the nature of licence

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

13. Before the amendment in 1989, the law was that even in cases where the assessee had made only a provision in its accounts for bad debts and interest thereon, without the amount actually being debited from the assessee’s Profit and Loss account, the assessee could still claim deduction under Section 36(1)(vii) of the Act. With effect