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

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

Bench: HON'BLE THE CHIEF JUSTICE

56:35 IST Reason: Signature Not Verified 2 J U D G M E N T S. RAVINDRA BHAT, J. 1. Leave granted. Berger Paints India Ltd. v Commissioner of Income Tax, Kolkata-IV & Anr.1 was the lead matter while hearing this batch of appeals. However, the parties agreed to treat Checkmate Services Pvt. Ltd. v Commissioner of Income

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

section (1) of section 139; or (B) in any other case, on or before the last day of the previous year: Provided that where in respect of any such sum, tax has been deducted in any subsequent year or, has been deducted – (A) during the last month of the previous year but paid after the said due date

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

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

disallowance can be made only on the basis of material collected during the search or requisition. In case no incriminating material is found, as held by the Rajasthan High Court in the case of Jai Steel (India) v. Asst. CIT (supra), the earlier assessment would have to be reiterated. In case where pending assessments have abated, the Assessing Officer

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

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

disallowed that claim; that view was upheld. This Court stated that : (SCC pp. 679-81, paras 5-6) “5. … In amalgamation two or more companies are fused into one by merger or by taking over by another. Reconstruction or “amalgamation” has no precise legal meaning. The amalgamation is a blending of two or more existing undertakings into one undertaking

COMMNR. OF INCOME TAX, MUMBAI vs. D.P. SANDU BROS CHEMBUR (P) LTD

disallowed by the Assessing Officer who held that the amount of Rs.35 lakhs was taxable as "income from other sources" under Section 10(3) read with Section 56. The assessee appealed to the Commissioner of Income Tax (Appeals) who came to the conclusion that the assessee was liable to pay capital gains on the amount of Rs. 35 lakh after

MODI INDUSTRIES LIMITED, MODINAGAR vs. COMMISSIONER OF INCOME-TAX, DELHI

The appeals are allowed in the above

Section 143 or 144. Likewise, even though there is a shortfall in payment of tax according to the calculation made in the order of assessment, the assessee is obliged to pay interest on the seventy five percent of the amount of shortfall only upto the date of the assessment order, i.e., the date on which the amount of advance

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

Appeals are dismissed

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

56.  Section 57 provides for the deduction of expenditure not being in the nature of capital expenditure expended wholly and exclusively for the purposes of making or earning such income.  In the case of interest on securities, any reasonable sum paid for the purposes of realising interest is also entitled to deduction under Section 57 of the IT Act.       Civil

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

disallowance of ITC on goods and services used in the construction of buildings could be a logical corollary only if the buildings were intended to be sold as stock by the developer instead of being further used for providing taxable goods or services. There is no contradiction in promoting ITC on goods and services used for the construction of buildings

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

2)] In Commissioner of Income-tax, A.P. v. T. Veerabhadra Rao K. Koteswara Rao & Co. reported in 155 ITR 152 at 157, it was found that the debt was taken into account in the income of the assessee for the assessment year 1963-64 when the interest accruing thereon was taxed in the hands of the assessee. The said interest

COMMNR. OF INCOME TAX, KERALA vs. M/S. TARA AGENCIES

Appeal is allowed and the

2(7)(c) of the Finance Act, 1978 and was entitled to concessional rate of tax. The Tribunal disallowed the claim on the ground that there was no processing as the end product remained the same and the entire process was manual. The High Court while placing reliance on the decision in Chowgule\022s case (supra) came to the conclusion

M/S DALMIA POWER LTD. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Appeals are allowed

Bench: HON'BLE MS. JUSTICE INDU MALHOTRA

56,89,83,608/­).  2.4 With   a   view   to   restructure   and   consolidate   their businesses,   and   enable   better   realisation   of   the potential   of   their   businesses,   which   would   yield beneficial   results,   and   enhanced   value   creation   for their   shareholders,   better   security   to   their   creditors and   employees,   the   Appellants   (also   referred   to   as “Transferee Companies” or “Amalgamated Companies”) entered into 4 interconnected Schemes

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

disallowed the deduction/debit. This fact is important. It indicates the double standards adopted by the Department. 11. The dispute in this batch of civil appeals centers around the year(s) in which deduction would be admissible for the increased liability under Section 37(1). 12. We quote hereinbelow Section 28(i), Section 29 Section 37(1) and Section

NATIONAL CO-OPERATIVE DEVELOPMENT CORPORATION vs. COMMISSIONER OF INCOME TAX-V, DELHI

Bench: HON'BLE MR. JUSTICE SANJAY KISHAN KAUL

56 of the IT Act, for which allowable deductions are enumerated under Section 57 of the IT Act was, however, repelled. The Revenue Department further sought to argue that the advances were in the form of application of income rather than expenditure of income. It also argued that the loans disbursed were 8 liable to be refunded in terms

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

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

disallowable on an application of the test of enduring benefit. If the advantage consists merely in facilitating the assessee’s trading operations or enabling the management and conduct of the assessee’s business to be carried on more efficiently or more profitably while leaving the fixed capital untouched, the expenditure would be on revenue account, even though the advantage

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

56 is disingenuous. That was a decision which turned on whether a sum of Rs.79 lakhs represents ‘Debenture Redemption Reserve’ and was includible in computing the capital of the assessee company for the purpose of the Companies (Profits) Surtax Act, 1964. The High Court took the view that the amount set apart to redeem 21 debentures had to be treated