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

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

66,59,04,421.00. Initially the return was processed under Section 143(1) of the Act but subsequently, assessment proceedings were initiated under Section 143 of the Act. 11.3. In the assessment order dated 31.03.2004, total income of the assessee was computed at Rs. 96,25,86,888.00 which resulted in net demand of Rs. 55,25,86,888.00 including

DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

disallowed in computing the total income of such person as a result thereof shall, for the purposes of clause (c) of this sub-section be deemed to represent the income in respect of which particulars have been concealed. Explanation 2\005\005\005\005. Explanation 3\005\005\005\005. Explanation 4.- For the purposes of clause (iii) of this

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

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

66,505.00). 8. Aggrieved by the aforesaid reduction in the claim of deduction under Section 80 IA of the Act, the assessee preferred appeal before the first appellate authority i.e. Commissioner of Income Tax (Appeals), Rohtak (referred to hereinafter as ‘CIT (A)’). By the appellate order dated 16.05.2005, CIT (A) held that the action of the assessing officer in restricting

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

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

disallowance can be made under section 44C in the facts and circumstances of this case. That section 44C applies only when a foreign company operates through its branches in India is made clear even in the explanatory note appended to the Finance Bill, 1976. [...] The difficulties of the nature as stated in the said memorandum as well

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. AHMEDABAD URBAN DEVELOPMENT AUTHORITY

Bench: HON'BLE THE CHIEF JUSTICE

66. Mr. Ajay Vohra, learned senior counsel, appearing for the Apparel Export Promotion Council (AEPC) urged that it is a non-profit organization set up with approval of the Central Government, for promotion of exports of garments from India (i.e., promotion of trade). It was registered under Section 12AA(1) of the IT Act, on 18.05.1979 and is engaged

M/S. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

Bench: This Court & On Leave Being Granted, Civil Appeals Have Been Registered. 3.

66,910.00 whereafter order was passed allocating income among the partners. 13. Likewise, for the assessment year 1991-1992, the assessing officer passed reassessment order dated 21.03.2002 under Section 144/147 of the Act determining total income at Rs.13,91,700.00. Following the same, allocation of income was also made amongst the partners. 14. In so far assessment year

THE MAVILAYI SERVICE COOPERATIVE BANK LTD. vs. COMMISSIONER OF INCOME TAX CALICUT

Bench: Us, The Assessing Officer Denied Their Claims For Deduction, Relying Upon Section 80P(4) Of The It Act, Holding That As Per The Audited Receipt & 2

disallow deductions claimed under section 80P of the IT Act, notwithstanding that mere nomenclature or registration certificates issued under the Kerala Act would show that the assessees are primary agricultural credit societies. These divergent decisions led to a reference order dated 09.07.2018 to a Full Bench of the Kerala High Court. 4 5. The Full Bench of the Kerala High

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

Bench: HON'BLE MR. JUSTICE SANJAY KISHAN KAUL

1), and disbursed by way of “grants” to national or state level co-operative 4 societies, is eligible for deduction for determining the “taxable income” of the appellant-Corporation. This was, as stated herein, contrary to the earlier accounting practice and arose for the first time for the assessment year 1976-77. Accordingly, the factual matrix pertaining to this aforementioned

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

Appeal is allowed and the

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 that the activity of the assessee amounted to processing. The court while setting aside the judgment

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

66 ITR 692 (SC) 9 the assessee had exchanged shares of one existing company for shares of another; that case did not involve amalgamation or dissolution of the company whose shares were exchanged. Likewise, the English decision in Royal Insurance Co. Ltd v. Stephen10 dealt with realisation of investments, not stock- in-trade by an insurance company assessed under

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

Appeals are dismissed

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

disallowed it under the income under   the   head   “interest   on   securities”.     The   Appellate Tribunal confirmed the view. This Court, in paragraphs nos. 3 to 7, held thus:  “3. Learned counsel for the Revenue argued that the   income   from   business   and   securities   fell under different heads, namely, Section 10 and Section 8 of the Act respectively, that they were mutually   exclusive

S.A. BUILDERS LTD. vs. COMMNR. OF INCOME TAX, CHANDIGARH

66, 729/- . The assessee preferred an appeal to the Commissioner of Income Tax (Appeals) Chandigarh [for short hereinafter referred to as the CIT(A)], who vide his order dated 15.4.1993 partially accepted the claim of the assessee. According to the CIT (A), out of the total amount of Rs. 82 lacs advanced by the assessee in the relevant assessment year

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

M/S. PUROLATOR INDIA LTD. vs. COMMNR. OF CENTRAL EXCISE, DELHI-III

Appeal is disposed of accordingly

66,247/- on assessee under the provisions of Section 11AC ibid; (iv) impose a penalty of Rs. 5 lakhs on assessee in terms of provisions of Rule 173Q of the Central Excise Rules, 1944 and Rule 25 of the Central Excise Rules, 2001 both read 4 Page 5 JUDGMENT with section 38A of the Central Excise Act, and (v) appropriate

M/S. DUNCANS INDUSTRIES LTD., CALCUTTA vs. COMMISSIONER OF CENTRAL EXCISE,NEW DELHI

Appeals are disposed of in

disallowed and why the charges on account of freight, interest on freight, rebate, octroi and interest on receivables should not be included in the assessable value and also why the cost of C.F.C. packing charged and realized by them from the buyers should not be included in the assessable value under Section 4(1) (a) and Section

PRINCIPAL COMMISSIONER INCOME TAX 4 BENGALURU 2 vs. M/S JUPITER CAPITAL PRIVATE LIMITED

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

disallowance of capital loss claimed by the assessee of Rs.164,48,55,840/- by holding that there is extinguishment of rights of 153340900 shares when no such extinguishment of rights is made out by Digitally signed by VISHAL ANAND Date: 2025.01.08 11:04:03 IST Reason: Signature Not Verified 2 the assessee as required under section