SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

disallow the deduction towards the payments made and incurred, it would have used the expression “paid”, which term has been specifically defined for the purposes of Sections 28 to 41 of the Act but the use of expression “payable” makes it clear that the coverage of the provision is restricted and in any case, it is not applicable over

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

16, 1984 explaining the objectives in inserting new sub-clause (vi) in Section 17(2). It may also be noted that after clause (vi) was inserted in Section 17(2) by the Amendment Act, 1984, Income Tax Rules were also amended by incorporating Rule 3(a) to work out enacted clause (vi). This Rule 3(a) was also deleted after

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

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

Bench: HON'BLE THE CHIEF JUSTICE

16 in deposit of the employees' contribution/ESI contribution, the assessee was not entitled to the deduction. 27. The learned ASG further submitted that Section 43B which was applicable to employers' contribution to any provident fund or any other fund for the welfare of the employees, and the amendment to Section 43B, which enacted that any such amount of employers' contribution

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

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

disallowed. Civil Appeal Nos 8291 of 2015 & 4451 of 2016 Page 3 of 55 5. The respondent, in its reply to the notice referred to above, clarified that the expenses in question could not have been classified as head office expenditure for the reason that Section 44C of the Act, 1961 presupposes that at least a part of the expenditure

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

disallowance under Section 40(a)(iib) is not contingent upon the nature of licence.  The test should be whether levy under the Abkari Act is exclusive or not and in this case it is exclusive.   It is submitted that the restricted interpretation made by the High Court to the   extent   of   FL­1   licences   issued   in   favour   of   the   appellant   runs

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

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

disallowed the export commission charges paid by the assessee to M/s. Steel Crackers Pvt. Ltd. 9 amounting to Rs. 40,82,089/- while stating that the tax deducted at source (TDS) on such commission amount on 07.07.2004, 07.09.2004 and 07.10.2004 ought to have been deposited by the Respondent before the end of the previous year

SHITAL FIBERS LTD. vs. COMMISSIONER OF INCOME TAX

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

16:18 IST Reason: Signature Not Verified that some of the appeals in the group have been disposed of by the Order dated 01st August, 2024 due to low tax effect. FACTUAL ASPECT 3. We are referring to the facts of the case in Civil Appeal No. 14318 of 2015. Appellant is a company which filed a return declaring

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

section 34(1) when a claim is made for depreciation. Now, merely because the form of the return provides for a place where the statement of such particulars should be set out does not mean that in the absence of such statement the Income-tax Officer has no power to allow the depreciation. A deduction by way of depreciation

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

The appeals are allowed

16. Section 43B, however, mandates that certain deductions would be allowed only on actual payment. This provisions, which is relevant for our purpose reads as under: “43B. Certain deductions to be only on actual payment 4 Notwithstanding anything contained in any other provision of this Act, a deduction other- wise allowable under this Act in respect

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 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

COMMISSIONER OF CENTRAL EXCISE, BELGAUM vs. M/S. AKAY COSMETICS PVT. LTD

16 under proviso (iii) to section 4(1)(a) of the Act and in the circumstances, the department was justified in disallowing

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

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

disallowed under the IT Act, the same cannot be added back and, hence, such a provision for NPA cannot be added back in computing the taxable income. According to the appellant, the purpose behind prescribing RBI Directions 1998 is to ensure that members of the public and shareholders of the company obtain a true picture of the financial health

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

disallowed the claim of depreciation. 9.3. Assessee preferred appeal before CIT(A), Chennai. CIT(A) vide the order dated 27.02.2006 held that the assessee could carry on the business in software development export and training by restraining M/s. Pentamedia Graphics Limited from carrying out the same activities. Assessee had acquired commercial right to conduct training programmes with

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