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

Bench: HON'BLE THE CHIEF JUSTICE

disallowed under Section 43-B which, as stated above, was inserted with effect from 1-4-1984 *** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

MANSAROVAR COMMERCIAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX DELHI

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

disallowed). Separate penalty proceedings were initiated under sections 271(1)(a). 271(1)(c), 273/274 and 271-B of the Act. 2.12 The assessees then preferred appeals before the CIT(A). Subsequently on 08th December, 2000, the writ petitions filed by the assessees came to be dismissed by the High Court as the respective assessees moved the Appellate Authority prescribed

THE BANK OF RAJASTHAN LTD. vs. COMMISSIONER OF INCOME TAX

Appeals are dismissed

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

6 F. 894 : 5 Tax Cas. 159.]. “that   enhanced   values   obtained   from realization   or   conversion   of   securities may   be   so   assessable   where   what   is done   is   not   merely   a   realization   or change of investment, but an act done in what is truly the carrying on, or carrying out, of a business”. In the ordinary case of a Bank, the business

COMMISSIONER OF INCOME TAX, DELHI vs. M/S WOODWARD GOVERNOR INDIA P. LTD

43(1), 43A (both, before and after Amendment vide Finance Act, 2002). Facts in M/s Woodward Governor India P. Ltd. [Civil Appeal arising out of SLP(C) No. 593/08] – REVENUE ACCOUNT CASE: 5. The assessee filed its Return of Income on 28.1.1998 for the assessment year 1998-99 on a total income of Rs. 1,10,28,190.00. That return

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

43,90,632/-. The assessee has shown commission income of Rs. 6,23,300/- on which net profit of Rs. 2,89,694/- has been shown giving N.P. rate of 46.47% as against N.P. rate of 50.91% declared in the immediate preceding year on commission income of Rs. 6,00,450/-. The N.P. rate declared this year

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

disallowed by the assessing officer which was affirmed by the first appellate authority i.e., Commissioner of Income Tax (Appeals). On appeal by the assessee, the Income Tax Appellate Tribunal set aside the order of the Commissioner of Income Tax (Appeals) which decision has been affirmed by the High Court. The third additional issue relates to what is called carbon credit

M.M. AQUA TECHNOLOGIES LTD. vs. COMMISSIONER OF INCOME TAX, DELHI - III

Appeals are allowed in the aforesaid terms

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

6 SCC 613 at paras 60 to 70 per Kapadia, C.J. and para 333, 334 per Radhakrishnan, J. 25. The High Court judgment dated 18th May, 2015, is clearly in error in concluding that ‘interest’, on the facts of this case, has been converted into a loan. There is no basis for this finding - as a matter of fact

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

43(6)(b) of the Act. The provisions of section 32(1) of the Act are intended to confer benefit on the assessee of claiming deductions on account of depreciation in respect of the specified classes of assets and, whenever it is claimed, it ought to be allowed." High Court also noticed that in that case admittedly the assessee

CHIEF COMMISSIONER OF CENTRAL GOODS AND SERVICE TAX vs. M/S SAFARI RETREATS PRIVATE LIMITED

Appeals are partly allowed in above terms

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

6), he submitted that the provision can be pressed into service only in case of supply of capital goods or plant and machinery on which ITC has been taken. He submitted that in the facts of the case, it is nobody’s case that the registered persons are supplying capital goods, plant or machinery. 21. It was argued that

COMMISSIONER OF INCOME TAX 5 MUMBAI vs. M/S. ESSAR TELEHOLDINGS LTD. THROUGH ITS MANAGER

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

disallow expenditure incurred to earn exempt income by applying the provisions of newly inserted section 14A of the Act.” 17. By   Finance   Act,   2002,   a   statutory   provision   was   also inserted by way of proviso to Section 14A.  What was clarified by the Circular have been statutorily engrafted in the proviso to the following effect:­            “Provided that nothing contained in this

COMMISSIONER OF INCOME TAX, HYD. vs. M/S. P.J. CHEMICALS LTD

In the result, we affirm the judgments of the High Courts which have

Section 43(1) of the Act for purpose of calculation of depreciation etc. 2. The second batch consists of matters in which the High Court has taken a contrary view against the assessee and where the assessee has come up in appeal. There is thus a divergence of judicial opinion on this question. 3. We may refer to the facts

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

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

43. Let us first examine the operative part of Section 44C. For clarity, the operative part of Section 44C can be divided into the following distinct components: a) Section 44C applies specifically to non-resident assessees. b) Section 44C governs the computation of income chargeable under the specific head “Profits and gains of business or profession”. c) Section 44C mandates

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

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

disallowance of Rs. 39,11,054 out of interest payment? (3) Whether on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in upholding the order of the CIT (Appeals) who held that the amount of Rs. 43,320 paid as compensation to agriculturist is allowable as revenue expenditure?" http://JUDIS.NIC.IN SUPREME COURT

MAHARANA MILLS PVT. LTD. vs. INCOME TAX TRIBUNAL, AHMEDABAD & ORS

In the result, the appeal fails and is dismissed

disallowed the respondent’s claim on the ground that it was against the principle inherent in granting depreciation allowance which must decrease from year to year. The matter was taken up to this Court and while it was pending there, on May 8, 1956, the Central Government issued a notification in exercise of its powers conferred on it by 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

PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) 2 vs. M/S MAHAGUN REALTORS (P) LTD

The appeal is allowed, in the above terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

43 (Del.). 8 untenable and such defect would not be cured in terms of section 292B of the Act. Further, the fact that amalgamated company participated in the assessment proceedings would not operate as estoppel. 15. It was contended that the respondent’s case is covered by Maruti Suzuki The facts of both cases are similar. In Maruti Suzuki

M/S MANGALORE GANESH BEEDI WORKS vs. COMMISSIONER OF INCOME TAX, MYSORE

The appeals are disposed of in the above terms

disallowing the claim.” 18. The High Court did not accept the view of the Tribunal and in support of that it was contended before us by learned counsel for the Revenue that the highest bid of AOP-3 was accepted by the High Court on or about 21st September, 1994 and therefore there was no question

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