SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

15 assessee merely acted as facilitator or intermediary in the process of transportation of goods, he had no liability to deduct TDS under Section 194C of the Act. 10.2. The main plank of the submissions of learned counsel for the appellant has been that disallowance

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

Disallowances. Keeping in mind the said scheme the position is that Sections 30 to 38 are deductions which are limited by Section 40. Therefore, even if an assessee is entitled to deduction under Section 36(1)(iii), the assessee(firm) will not be entitled to claim deduction for interest payment exceeding 18/12% per se. This is because Section

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

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

Section 40A(5) he disallowed the amount of interest so calculated. Company had advanced various sums to its sister concerns. The balance outstanding as on the last date of the accountancy year was over Rs. 2.50 lakhs. Company raised borrowings on which it had paid interest. Income-tax Officer disallowed the interest calculated at the rate of 15

SHAH ORIGINALS vs. COMMISSIONER OF INCOME TAX 24 MUMBAI

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

disallowance of deduction under Section 80 HHC is justified in law, and no ground is made for interference. III. ANALYSIS 6. In the above narrative, the question that falls for our consideration is “whether the gain on foreign exchange fluctuation in the EEFC account of the assessee partakes the character of profits of the business of the assessee from exports

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

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

15 of 55 a) Under Section 29 of the Act, 1961, the income chargeable under the head “Profits and gains from business or profession” is to be computed in accordance with the provisions contained in Sections 30 to 43D. None of the aforementioned sections require that, in order to qualify as an allowable deduction, the expenditure must be incurred

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 KOLKATA XII vs. M/S CALCUTTA EXPORT COMPANY

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

15 memorandum explaining the provision which reads as under:- “With a view to augment compliance of TDS provisions, it is proposed to extend the provisions of the section 40(a)(ia) to payments of interest, commission or brokerage, fee for professional services or fee for technical services to the residents and payments to a residential contractor or sub-contractor

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

15. So far as turnover tax is concerned it is submitted by the learned ASG appearing for the revenue that such tax was imposed not only on KSBC in terms of Section 5(1)(b) of KGST Act, but it is imposed on various other retail dealers specified under Section 5(2) of the said Act.  Further turnover

THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 11 (1) BANGALORE vs. M/S ACE MULTI AXES SYSTEMS LTD

Appeals are disposed of in the same terms

Bench: HON'BLE MR. JUSTICE ADARSH KUMAR GOEL

15:36:21 IST Reason: Signature Not Verified 2 “When once the eligible business of an assessee is given the benefit of deduction under Section 80 IB on the assessee satisfying the conditions mentioned in sub-sec. (2) of Section 80 IB, can the assessee be denied the benefit of the said deduction on the ground that during the said

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

15 Section 45I - Definitions In this Chapter, unless the context otherwise requires,- (a) "business of a non-banking financial institution" means carrying on the business of a financial institution referred to in clause (c) and includes business of a non- banking financial company referred to in clause (f); (aa) "company" means a company as defined in section

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

M/S.SHASUN CHEMICALS AND DRUGS LTD. vs. COMMISSIONER OF INCOME TAX, CHENNAI

The appeals are allowed

15 one such expenditure which is allowable under clause (ii) of sub-section (1) of Section 36. There is no dispute that this amount was paid by the assessee to its employees within the stipulated time. Embargo specified under Section 43B or 40A(9) of the Act does not come in the way of the assessee. Therefore, the High Court

COMMISSIONER OF INCOME TAX, COIMBATORE vs. M/S. LAKSHMI MACHINE WORKS

15 above, calculated in accordance with proviso to sub-section (1) of section 80HHC 17. Deduction under section 80HHC to which the http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 8 of 18 assessee is entitled (Item 14 minus Item 16) 18. Remarks, if any ANNEXURE B [See paragraph 2(b) of Form No.10CCAC] Details relating to the claim

COMMR. OF INCOME TAX, MADRAS vs. BRAKES INDIA LTD., MADRAS

Accordingly fails and is dismissed

disallowed the balance of Rs. 15,376 in view of Section 40(c)(iii) of the Income-tax Act, 1961. On an appeal

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 CITIZEN COOPERATIVE SOCIETY LTD., REP. BY MANAGING DIRECTOR G.RANGA RAO. HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX

The appeal is dismissed in terms of the signed reportable

disallowance of deduction claimed under Section 80P of the Act is concerned, the CIT(A) rejected the claim for deduction thereby upholding the order of the Assessing Officer. While doing so, the CIT(A) 7 followed the order of the Income Tax Appellate Tribunal (ITAT) in the case of the appellant itself in respect of Assessment Years

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

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

Section 37 is per se not excluded. 15 23. This court is of the opinion however, that in the facts of this case, the judgment in Southern Technologies (supra) on this issue (where the claim of bad and doubtful debt was disallowed