M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

disallowed i.e. Rs. 10,28,462.00, Rs. 57,51,520.00 and Rs. 1,15,000.00. He concluded that by adding these figures the total amount of Rs. 68,94,982.00 was the income in respect of which inaccurate particulars had been furnished. The tax was computed at Rs. 31,71,692.00. It was held that the tax sought

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

6 “payment” is used in respect of payment of salary income to the assessee- employee and the expression “deduction” is used in respect of deduction of tax. According to the learned counsel, the very fact that Section 192(2) authorizes the assessee-employee to choose one of the several persons “making the payment” and not “making the deduction

VODAFONE IDEA LTD(EARLIER KNOWN AS VODAFONE MOBILE SERVICES LIMITED vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 26 (2)

Bench: HON'BLE THE CHIEF JUSTICE

6. It would be better to have a look at the relevant section which is reproduced as under: "143(1)(a) Where a return has been made under Section 139, or in response to a notice under sub-s. (1) of Section 143, - (i) If any tax or interest is found due on the basis of such return, after adjustment

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

c. Tax on goods cannot be extended to immovable property. However, taxation on services can be raised even on using immovable properties for rendition of services. He submitted that when it comes to sales tax or VAT on goods, a consistent view taken by this Court is that the sale would include the sale of goods and not the sale

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

Bench: HON'BLE THE CHIEF JUSTICE

c), clause (d), clause (e) and clause (f) which is consequential in nature. It is also proposed to omit the second proviso to the said section. These amendments will take effect from 1st April, 2004 and will, accordingly, apply in relation to the assessment year 2004-2005 and subsequent years." 42. The rationale for introduction of Section 43B was explained

RAJASTHAN STATE ELECTRICITY BOARD JAIPUR vs. THE DY. COMMISSIONER OF INCOME TAX (ASSESSMENT)

In the result, we allow the appeal, set aside the

Bench: HON'BLE MRS. JUSTICE R. BANUMATHI

6 forward to future years to be set off against profits and it did not in any manner affect business loss. He submits that business loss suffered by the assessee had not reduced because of the bonafide mistake committed by the appellant in calculating the depreciation. The assessee was in loss and continued to be in loss. Reduction in depreciation

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

The appeals are allowed in the above

6 I.T.R.414), the Judicial Committee of the Privy Council observed: "One of the peculiarities of most Income-tax Acts is that the word ‘assessment’ is used as meaning sometimes the computation of income, sometimes the determination of the amount of tax payable and sometimes the whole procedure laid down in the Act for imposing liability upon the taxpayer. The Indian

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

6. All financial leases written on or after April 1, 2001 attract the provisioning requirements as applicable to hire purchase assets. Disclosure in the balance sheet 9. (1) Every NBFC shall separately disclose in its balance sheet the provisions made as per paragraph 8 above without netting them from the income or against the value of assets. (2) The provisions

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

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 was processed under Section 143(1)(a) on 23.3.1999. On 16.8.1999 a notice under Section 143(2) was issued to the assessee stating that

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

C) No. 719/2020, another issue involved is the treatment of interest on borrowed funds invested by the assessee in its sister concern and also provided as interest free advances to the sister concern and its directors; whether such interest is an allowable business expenditure? 6. Before we proceed to answer the above questions, it would be appropriate to have

ASSISTANT COMMISSIONER OF INCOME TAX vs. RAJESH JHAVERI STOCK BROKERS PVT.LTD

The appeal is allowed without

section 143(1)(a) allowed the Department to make certain adjustments in the income or loss declared in the return. They were as follows: (a) an arithmetical error in the return, accounts and http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 6 of 10 documents accompanying it were to be rectified; (b) any loss carried forward, deduction, allowance or relief which

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

C" [(1991) 192 ITR 700 (Guj.)] the assessee withdrew the claim of depreciation in http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 11 of 21 the revised return. Income-tax Officer nevertheless allowed depreciation, which was claimed in the original return. The Court noticed from the provisions of section 32(1) of the said Act that the deduction in respect

JEYAR CONSULTANT & INVESTMENT PVT. LTD. vs. COMMISSIONER OF INCOME TAX,MADRAS

6 of 24 Page 7 JUDGMENT permissible. According to him, while forming this opinion the High Court looked into sub-section (1) of Section 80HHC alone as is clear from the order of the High Court, and did not take into consideration provisions of sub-section (3) thereof. His submission was that no doubt, this Court in the case

ENGINEERING ANALYSIS CENTRE OF EXCELLENCE PRIVATE LIMITED vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

6 This category includes C.A. Nos. 10115-10117/2013, C.A. Nos. 6386-6387/2016, C.A. Nos. 8954-8955/2018, SLP(C) No. 37580/2016, SLP(C) No. 28867/2016, SLP(C) No. 28868/2016, C.A. No. 10673/2016, SLP(C) No. 29571/2016, C.A. No. 10674/2016, SLP(C) No. 36782/2016. 10 amount of Rs. 1,03,54,784 that it had not deducted

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

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

6. It is the case on behalf of the Revenue that once upon the search under Section 132 or requisition under Section 132A, the assessment has to be done under Section 153A of the Act, 1961 and the AO thereafter has the jurisdiction to pass assessment orders and to assess the ‘total income’ taking into consideration other material, though

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

C. Bhansali on 06.03.2007 was in the ordinary course of its business. 8. It was contended that since the builder/borrower defaulted in repaying the amount, the respondent assessee decided to write off the same as a bad debt under 3 (2012) 3 SCC 784. 5 Section 36(1)(vii) read with Section 36(2) of the Act. It was contended

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

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

1), it would not be permitted if it exceeds the ceiling limit set under Section 44C. To decide otherwise would be to overlook the non-obstante nature of Section 44C. 46. It is prudent to closely examine & understand the meaning attributed to the term ‘head office expenditure’ under Section 44C. This is because, in the context of the question before

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

6. On a close reading of the provisions extracted hereinabove, it emerges that under Section 245H(1) if the Settlement Commission is satisfied that any assessee who makes the application for settlement 26 under Section 245C, has co-operated with the Settlement Commission in the proceedings before it and has made a full and true disclosure of its income