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

THE PRINCIPAL COMMISSIONER OF INCOME TAX III, BANGALORE vs. M/S WIPRO LIMITED

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

8) is rewritten by introducing in it a prohibition similar to Section 80HHC(5), though the legislature did not enact any such prohibition and it completely overlooks and ignores the legislative background of section 10B has no substance. It is urged that as such the issue involved in the present case is directly covered by the decision of the Delhi

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

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

8). On the contrary, the rate at which State Electricity Board supplied electricity to the industrial consumers would have to be taken as the market value for computing deduction under Section 80 IA of the Act. 30. Thus on a careful consideration, we are of the view that the market value of the power supplied by the State Electricity Board

COMMNR.,CENTRAL EXCISE, MADRAS vs. M/S. ADISON & CO. LTD

Bench: Us Because Of An Order Dated 16.07.2008, By Which There Was A Reference To A Larger Bench In View Of The Importance Of The Questions Involved. 2. Civil Appeal No. 7906 Of 2002 Arises From The Judgment Dated 23.11.2000 Passed By The Madras High Court In R.C. No. 01 Of 1999. Civil Appeal No. 14689 Of 2015 Was Filed By The Revenue Against The Judgment Dated 26.11.2014 In Central Excise Appeal No. 21 Of 2009. Special Leave Petition (C) Nos. 18426 Of 2015, 18423 Of 2015, 18425 Of 2015, 23722 Of 2015, 12282 Of 2016, 16142 Of 2016 & 16141 Of 2016 Are Filed Against The Judgment Of The Andhra Pradesh High Court In Central Excise Appeal Nos. 21 Of 2005, 9 Of 2005, 51 Of 2004, 10 Of 2005, 44 Of 2004, 38 Of 2004 & 18 Of 2005 Respectively. 3. Civil Appeal No. 8488 Of 2009 Is Filed Against The Judgment Dated 20.08.2008 Passed By The Bombay High 2

2. Whether the Tribunal after finding that the burden of duty was passed on by the applicant to its various dealers by issue of credit notes was right in concluding that the ingredients of Section 11-B were not satisfied.” 9. The High Court of Madras answered the reference in favour of the Assessee by its judgment dated

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

8 13. M/s Eli Lilly & Co. (India) Pvt. Ltd. was incorporated in India under the Companies Act, 1956. It was a joint venture between M/s Eli Lilly, Netherlands B.V. and Ranbaxy Laboratories Ltd.. The foreign partner had seconded four expatriate(s) to the joint venture in India. They were employee (s) by the joint venture. They, however, continued

CATHOLIC SYRIAN BANK LTD. vs. COMMISSIONER OF INCOME TAX, THRISSUR

disallowed. This amount was added back to the taxable income of the assessee, for which a demand notice and challan was accordingly issued. This order of the assessing officer dated 24th January, 2005, was challenged in appeal by the assessee on various grounds. 2. The Commissioner of Income Tax (Appeals) [hereafter referred to as ‘the CIT(A)’], vide its order

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

Bench: HON'BLE THE CHIEF JUSTICE

8 of deletion of the second proviso to Section 43B of IT Act (by Finance Act, 2003) and whether the same operated prospectively. The court rejected the Revenue’s appeal and held that the omission of the second proviso to Section 43B was curative and therefore operated retrospectively. Mr. Datar urged that in Alom Extrusions, the court took note

SHREE CHOUDHARY TRANSPORT CO. vs. INCOME TAX OFFICER

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

8. Aggrieved yet again, the appellant approached the High Court in D.B. Income Tax Appeal No. 164 of 2008 against the order passed by ITAT. However, the appeal so filed was dismissed summarily by the High Court, by its short order dated 15.05.2009 that reads as under:- “In our view, on the language of Section 194C(2), and the fact

PRINCIPAL COMMISSIONER OF INCOME TAX. 6 vs. M/S I VEN INTERACTIVE LTD

Appeal is Allowed

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

disallowance of Rs. 8,91,17,643/­ under Section 14A of the 1961 Act, read with Rule 8 of the Income Tax Rules and computed total income at Rs.5,52,45,930/­. 3.2 Being aggrieved by the assessment order dated 24.12.2008, the assessee preferred appeal before the learned C.I.T (Appeals). The learned C.I.T (Appeals) allowed the appeal vide order dated

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

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

2) provides for revival of any assessment or reassessment which stood abated, if any proceeding or any order of assessment or reassessment made under section 153A of, the Act is annulled in appeal or any other proceeding. 16. Section 153A bears the heading “Assessment in case of search or requisition”. It is well settled as held by the Supreme Court

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

disallowed by Explanation to Section 36(1)(vii), if claimed, has got to be added back to the total income of the assessee because the said Act seeks to tax the “real income” which is income computed according to ordinary commercial principles but subject to the provisions of the IT Act. Under Section 36(1)(vii) read with the Explanation

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

8 of 21 head have to be computed. Section 10 deals with the computation of profits and gains of any business carried on by an assessee. Section 10(2) prescribes the allowances which have to be deducted before computing the profits and gains; one of the allowances is "depreciation", and this is provided under sub-clause (vi). Section 24 provides

THE CITIZEN COOPERATIVE SOCIETY LTD., REP. BY MANAGING DIRECTOR G.RANGA RAO. HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX

The appeal is dismissed in terms of the signed reportable

disallowance of deduction claimed under Section 80P of the Act is concerned, the CIT(A) rejected the claim for deduction thereby upholding the order of the Assessing Officer. While doing so, the CIT(A) 7 followed the order of the Income Tax Appellate Tribunal (ITAT) in the case of the appellant itself in respect of Assessment Years

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

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

2% commission, would, however, after the 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

THE COMMISSIONER OF INCOME TAX JAIPUR vs. PRAKASH CHAND LUNIA (D) THR LRS

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

disallowable under Explanation 1 to Section 37(1). It is submitted that thus either way, neither can the Respondent- Assessee claim business loss due to him not being in the smuggling business nor can he claim business expenditure as the same is prohibited under Explanation 1 to Section 37(1). 3.6 Making above submissions and relying upon the above submissions

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

8 The relevant part of Section 170 reads as follows: “170. Succession to business otherwise than on death (1) Where a person carrying on any business or profession (such person hereinafter in this section being referred to as the predecessor) has been succeeded therein by any other person (hereinafter in this section referred to as the successor) who continues

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 2