THE SOUTH INDIAN BANK LTD. vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE HRISHIKESH ROY

Section 14A disallowance which merits consideration is Godrej and Boyce Manufacturing Company Ltd. V. DCIT11. Here the assessee had access to adequate interest free funds to make investments and the issue pertained to disallowance of expenditure incurred to earn dividend income, which was not forming part 11 [(2017) 7 SCC 421. Page 17

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

disallowance under Section 40(a)(ia) does not relate to the amount already paid stands rejected. 16.10. Another contention in regard to Section 40(a)(ia) of the Act, that its scope cannot be decided on the basis of Section 194C, has only been noted to be rejected. The interplay of these provisions is not far to seek where Section

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

disallowed payment of the interest in the present case for AYs 1994-95, 1995-96, 1996-97 and 1997-98. However, the point which has been left out from consideration is that the loans which were given in August/September 1991 to the sister concerns got wiped out only in AY 1997-98. As stated above

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

Section 40(a)(iib)(A) or 40(a)(iib)(B), as such same is not an amount which can be disallowed under the said provision and disallowance made in this regard is rightly set aside by the High Court. 17

SHAH ORIGINALS vs. COMMISSIONER OF INCOME TAX 24 MUMBAI

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

disallowed under Section 80 HHC, is looked at by tracing the origin of income or the source from which the gain is derived. The gain cannot be given the status of profits from the business of exports unless the gain is said to be derived from the business of exports of goods/merchandise. The learned senior counsel argues that

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

Bench: HON'BLE THE CHIEF JUSTICE

Disallowance of unpaid statutory liability - Section 43B *** 35.2 Several cases have come to notice where taxpayers do not discharge their statutory liability such as in respect of excise duty, employer's contribution to provident fund, Employees' State Insurance Scheme, etc., for long periods of time, extending sometimes to several years. For the purpose of their income-tax assessments, they claim

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

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

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

17,910/-. The case was selected for scrutiny and the assessment under Section 143(3) of the Income Tax Act, 1961 (in short ‘the IT Act’) was completed on 28.12.2007. The Assessing Officer, vide order dated 12.10.2009, disallowed

SHITAL FIBERS LTD. vs. COMMISSIONER OF INCOME TAX

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

17 SCC 96 Civil Appeal No.14318 of 2015 etc. Page 1 of 20 Digitally signed by ANITA MALHOTRA Date: 2025.05.20 19:16:18 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

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

disallowed by the Act [SEE: page 455 of "The Law and Practice of Income Tax" by Kanga and Palkhivala]. Therefore, schematic interpretation for making the formula in Section 80HHC workable cannot be ruled out. Similarly, purposeful interpretation of Section 80HHC which has undergone so many changes cannot be ruled out, particularly, when those legislative changes indicate that the legislature intended

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

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

17. A little bit of interplay between Section 115BBE and Section 37(1) of the Act might throw more light on both the provisions. If a loss in pursuance to an offence or prohibited business cannot be brought under Section 115BBE of the Act for income assessed under 68, 69 and 69A to 69D of the Act, which deals with

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

Section 143(3) of the Act the claim of 17 depreciation on non-compete fee was disallowed by following the earlier

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

The appeals are allowed

17. Section 40A(9) also needs to be noted at this stage, which is reproduced herein below: “40A(9). No deduction shall be allowed in respect of any sum paid by the assessee as an employer towards the setting up or formation of, or as contribution to, any fund, trust, company, association of persons, body of individuals, society registered under

PRINCIPAL COMMISSIONER OF INCOME TAX. 6 vs. M/S I VEN INTERACTIVE LTD

Appeal is Allowed

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

Section 143(3) of the 1961 Act by making disallowance of Rs. 8,91,17,643/­ under Section 14A of the 1961 Act, read

MCORP GLOBAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX, GHAZIABAD

Accordingly, the civil appeal filed by the assessee is partly allowed with no order as to costs

Bench: Coming To The Facts, The Following Is The Relationship Between The Parties: - M/S Glass & Ceramic Decorators Was The Manufacturer Of Soft Drink Bottles. - Assessee Was The ‘Lessor’. - M/S Coolade Beverages Pvt. Ltd. Was The ‘Lessee’. 4. During The Relevant Assessment Year, The Assessee Carried On The Business Of Trading In Lamination Machines & Binding & Punching Machines. In Addition, It Was Also Engaged In The Leasing Business. During The Year In Question, The Assessee Had Bought 5,46,000 Soft Drink Bottles From M/S Glass & Ceramic Decorators Worth Rs. 19,54,953/-. The Bottles Were Directly Supplied To M/S Coolade Beverages Pvt. Ltd. (“M/S Coolade” For Short) In Terms Of Lease Dated 15.2.1991. Vide Assessment Order Dated 28.3.1994, The Ao Found That M/S Coolade Had Received Only 42,000 Bottles Out Of The Total Of 2

17,122 under the Second Transaction. In all, she disallowed depreciation of Rs. 48,21,694/- in the first round. In other words, the AO allowed depreciation in respect of both the transactions amounting to Rs. 1,32,08,795 as against the claim of Rs. 1,80,30,489/-. Findings: 6. In the case of Hukumchand Mills

COMMNR. OF INCOME TAX, KERALA vs. M/S. TRAVANCORE SUGARS & CHEMICALS LTD

The appeal stands disposed of in

Bench: The Expiry Of The Relevant Previous Year. On 30.04.1993, The Assessing Officer Completed The Assessment For The Year 1990-1991 & Inter Alia Confirmed Disallowance Of The Vend Fee. Against This, The Assessee Preferred An Appeal Before The Commissioner Of Income Tax (Appeals), Who, By His Order Dated 24.05.1993, Deleted The Disallowance Under Section 43B & Allowed The Appeal Of The Respondent-Assessee. Aggrieved By The Said Order, The Revenue Preferred An C. A. No. 2558/ 2005 1

disallowance under S. 43B of the I.T. Act in respect of the vend fee of Rs. 22,87,512/- outstanding as a liability payable to the Government of Kerala as on the last day of the accounting year?” Section 43B of the Income Tax Act allows certain deductions only to be on actual payment. Section 43B reads as follows

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

M/S APEX LABORATORIES P. LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX LARGE TAX PAYER UNIT II

The appeal is dismissed without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

17. An examination of the relevant provisions is first necessary. Section 37 of the IT Act states as follows: Section 37. General.—(1) Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively