M/S. ROTORK CONTROLA INDIA (P) LTD. vs. COMMNR. OF INCOME TAX, CHENNAI

Appeals stand allowed in favour of the assessee with no order as to

40A.(7)(a) Subject to the provisions of Clause (b), no deduction shall be allowed in respect of any provision (whether called as such or by any other name) made by the assessee for the payment of gratuity to his employees on their retirement or on termination of their employment for any reason (b) Nothing in Clause (a) shall apply

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

Bench: HON'BLE THE CHIEF JUSTICE

7 undisputed liabilities also are not paid. 35.3 To curb this practice, the Finance Act has inserted a new section 438 to provide that deduction for any sum payable by the assessee by way of tax or duty under any law for the time being in force or any sum payable by the assessee as an employer

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

disallowance of Rs. 20,000/- is made to the declared income.” Before the Commissioner of Income Tax (Appeals), Jodhpur 6. Aggrieved by the order so passed by the Assessing Officer, the assessee-appellant preferred an appeal before the Commissioner of Income 7 Tax (Appeals)6, being Appeal No. 183 of 2007-08, that was considered and dismissed

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

7 ACTION POINTS 1. Report is to be filed along with return of income. 2. "Total turnover" does not include cash compensatory support, duty drawback and profit on sale of import entitlement licences. 3. "Export turnover" means the sale proceeds (excluding freight and insurance) receivable in convertible foreign exchange \026 See Circular No.564, dated 5-7-1990. 4. Report

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

The appeals are allowed

7 was mentioned by the assessee that it had paid bonus to its employees to the tune of Rs.96,08,002/- in the said Financial Year and, therefore, it claimed deduction under Section 35(2AB) of the Act. However, invoking the provisions of Section 40A(9) of the Act the said expenditure is disallowed on the ground that

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

7), 43B, 40 and 40A. Such disallowances alone could be added back to the taxable income. The IT Act does not disallow a provision for NPA; that, unless the “provision for NPA” is specifically 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

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

40A, such depreciation shall be excluded for the purposes of sub-rule (1)." This Rule 5AA prescribed the particulars for depreciation necessary to be furnished for allowance of depreciation. Prior to insertion of Rule 5AA return of income tax in the form prescribed itself required particulars to be furnished if the assessee claimed depreciation. Mr. Dastur said that the case

COMMISSIONER OF INCOME TAX vs. VANAZ ENGINEERING PVT.LTD

The appeal is allowed, the judgment of the High Court

Sections 22, 29 and 40A(7)(b)(ii) - Gratuity - Scheme introduced for first time in assessee firm in 1970 - On basis of Actuarial Report total liability as on December 31, 1970 debited to Profit and Loss Account Assessment proceedings - Income Tax Officer disallowing