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

COMMR.OF INCOME TAX,NEW DELHI vs. M/S ELI LILLY & COMPANY (INDIA) P.LTD

14, that is to say, income from salaries, income from house property, profits and gains of business, capital gains and income from other sources. The scheme of the TDS provisions applies not only to the amount paid, which bears the character of “income” such as salaries, dividends, interest on securities etc. but the said provisions also apply to gross sums

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

III to section 194C; *** *** ***”12 13.3. Section 43 in the very same Part D of Chapter IV of the Act of 1961 defines various terms relevant to the income from profits and gains of business or profession; and clause (2) thereof, carrying the definition of the expression “paid”, having been referred in the present matter, could also be usefully reproduced

COMMNR.,CENTRAL EXCISE, MADRAS vs. M/S. ADISON & CO. LTD

Bench: Us Because Of An Order Dated 16.07.2008, By Which There Was A Reference To A Larger Bench In View Of The Importance Of The Questions Involved. 2. Civil Appeal No. 7906 Of 2002 Arises From The Judgment Dated 23.11.2000 Passed By The Madras High Court In R.C. No. 01 Of 1999. Civil Appeal No. 14689 Of 2015 Was Filed By The Revenue Against The Judgment Dated 26.11.2014 In Central Excise Appeal No. 21 Of 2009. Special Leave Petition (C) Nos. 18426 Of 2015, 18423 Of 2015, 18425 Of 2015, 23722 Of 2015, 12282 Of 2016, 16142 Of 2016 & 16141 Of 2016 Are Filed Against The Judgment Of The Andhra Pradesh High Court In Central Excise Appeal Nos. 21 Of 2005, 9 Of 2005, 51 Of 2004, 10 Of 2005, 44 Of 2004, 38 Of 2004 & 18 Of 2005 Respectively. 3. Civil Appeal No. 8488 Of 2009 Is Filed Against The Judgment Dated 20.08.2008 Passed By The Bombay High 2

14 Page 15 JUDGMENT (supra) that trade discounts shall not be disallowed only because they are not payable at the time of each invoice or deducted from the invoice price. It is the submission of the Assessee that the turnover discount is known to the dealer even at the time of clearance which has also been upheld by this Court

CATHOLIC SYRIAN BANK LTD. vs. COMMISSIONER OF INCOME TAX, THRISSUR

disallowed. This amount was added back to the taxable income of the assessee, for which a demand notice and challan was accordingly issued. This order of the assessing officer dated 24th January, 2005, was challenged in appeal by the assessee on various grounds. 2. The Commissioner of Income Tax (Appeals) [hereafter referred to as ‘the CIT(A)’], vide its order

UDAIPUR SAHKARI UPBOKTA THOK BHANDER LD. vs. COMMR.OF INCOME TAX

disallowed the claim on the ground that the appellant-society is a wholesaler of foodgrains and it is not a mere stockist as claimed and consequently it was not entitled to deduction under Section 80P(2)(e) of the 1961 Act. This order was applied for assessment years in question. Aggrieved by the assessment order(s), appellant filed appeals before

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

Bench: HON'BLE THE CHIEF JUSTICE

14 years. By the amendment of 2003, the second proviso was deleted. This court interpreted the law, in the light of these developments, in Alom Extrusions. The court considered the effect of omission of the second proviso, and observed as follows: “10. “Income” has been defined under Section 2(24) of the Act to include profits and gains. Under Section

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

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

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

14. Principal Commissioner of Income Tax-2, Kolkata Vs. M/s. Salasar Stock Broking Ltd. 2016 (8) TMI 1131 (Calcutta) 15. Pr. Commissioner of Income Tax-Central, Jaipur Vs. Smt. Daksha Jain, Sirohi 2019 (8) TMI 474 (Rajasthan) 16. Dr. A.V. Sreekumar Vs. The Commissioner of Income Tax, Kochi and Assistant Commissioner of Income Tax, Calicut (2018) 404 ITR 642 (Kerala

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

disallowed under this clause shall be limited to the amount by which the payment of interest by the firm to the partner exceeds the payment of interest by the partner to the firm. Explanation 2 : Where an individual is a partner in a http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 4 of 6 firm on behalf, or for the benefit

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

iii) actual cost of assets acquired during the previous year; (iv) capital expenditure on additions or alterations; (v) period of user only where return relates to assessment year 1969-70 or any earlier year; (vi) amount of moneys payable and scrap value in respect of assets sold, discarded, demolished or destroyed; (vii) amount on which depreciation is allowable total

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

disallowed by Explanation to Section 36(1)(vii), if claimed, has got to be added back to the total income of the assessee because the said Act seeks to tax the “real income” which is income computed according to ordinary commercial principles but subject to the provisions of the IT Act. Under Section 36(1)(vii) read with the Explanation

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

14:29:51 IST Reason: Signature Not Verified 2 societies which carry on business of banking or providing credit facilities to its members. On the contrary, the appellant society was carrying on the banking business for public at large and for all practical purposes it was acting like a co-operative bank governed by the Banking Regulation

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

14:51 IST Reason: Signature Not Verified 2 2. I.A. No. 114870/2022 is allowed. 3. Leave granted in SLP(C) No. 16277/2014, SLP(C) No. 24756/2014, SLP(C) No. 719/2020 and SLP(C) No.__/2025 (arising out of Diary No. 22308/2022). 4. Civil Appeal No. 4072/2014 is directed against the judgment and order dated 05.11.2012 passed by the High Court

M/S. I.C.D.S. LTD. vs. COMMISSIONER OF INCOME TAX

The appeals are allowed; the impugned

disallowed claims, both of depreciation and higher rate, on the ground that the assessee’s use of these vehicles was only by way of leasing out to others and not as actual user of the vehicles in the business of running them on hire. It had merely financed the purchase of these assets and was neither the owner nor user

DEPUTY COMMISSIONER OF INCOME TAX vs. M/S. CORE HEALTH CARE LTD

2) and before the Explanation. This insertion also operates w.e.f. 1.4.04. In short, the above amendments have been made by Finance Act, 2003 and all the said amendments have been made operational w.e.f. 1.4.04. Therefore, the proviso inserted in Section 36(1)(iii) has to be read as prospectively and w.e.f. 1.4.04. In this case, we are concerned with

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

M/S JINDAL EQUIPMENT LEASING CONSULTANCY SERVICES LTD. vs. COMMISSIONER OF INCOME TAX

Appeals stand disposed of in the aforesaid terms

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

iii) the compulsory acquisition thereof under any law …” Section 28 — Profits and gains of business or profession “The following income shall be chargeable to income-tax under the head "Profits and gains of business or profession",— (i) the profits and gains of any business or profession which was carried on by the assessee at any time during the previous year