M/S RAYALA CORP. PVT LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX,CHE

properties and is receiving rent as its business income, the said income should be taxed under the Head “Profits and gains of business or profession” whereas the case of the Revenue is that as the income is arising from House

CHELMSFORD CLUB vs. COMMISSIONER OF INCOME TAX, DELHI

The appeals are allowed and the judgment impugned herein is set aside

business or profession in the quarters; therefore, the income from them is not exempted by anything contained in section 9. There is no provision and there is no law which exempts from assessment income from house property

KILLICK NIXON LTD., MUMBAI vs. DEPUTY COMNR. OF INCOME TAX,MUMBAI

In the result, we allow the appeal, set aside the judgment of the High

business income as per the Appellate Authority direction of Rs. 27,93,977.00 while working out the revised total income. Out of the four items indicated at the end of the order item Nos. 1 and 2 (income from house property

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE K.M. JOSEPH

income from house property, lawfully otherwise, and falls short of ownership only for want of a formal conveyance as 72 required under Section 54 of Transfer of Property Act, a carrier who clings on to possession not only without having a shadow of a right, but what is more, both contrary to the contract as also the law cannot

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

Bench: HON'BLE THE CHIEF JUSTICE

income from such activities (i.e. business, etc.) does not exceed 20% of the total receipts. 36. It was submitted that statutory corporations, agencies, boards and authorities may trace their origins to specific Central or State laws. However, if their activities are akin to or “in the nature of” business, or trade, or they provide services to businesses or trade

COMMISSIONER OF INCOME TAX, KOCHI vs. TRANS ASIAN SHIPPING SERVICES (P) LTD

business. 3. Chapter IV of the Act deals with 'Computation of Total Income' and as per the scheme of the Act, such a computation of total income is governed by five heads which are provided in Section 14 of the Act. These are: (i) Salaries; (ii) Income from House Property

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

property of any kind held by an assessee, whether or not connected with his business or profession, (b) … (c) … but does not include— (i) any stock-in-trade [other than the securities referred to in sub-clause (b)], consumable stores or raw materials held for the purposes of his business or profession. (j) …” 25 Section 2(47) – Transfer “transfer

NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY vs. CHIEF COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE ASHOK BHUSHAN

business carried on by it which accrues or arises from the supply of a commodity or service [(not being water or electricity) within its own jurisdictional area or from the supply of water or electricity within or outside its own jurisdictional area; the income of a local authority which is chargeable under the head “Income from house property

M/S. VIJAY INDUSTRIES vs. COMMISSIONER OF INCOME TAX

Appeals are allowed

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

income from house property, profits and gains of business or profession, capital gains and income from other sources. Insofar as income

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

income from house property, profits and gains of business, capital gains and income from other sources. The scheme of the TDS provisions

ISHIKAWAJMA-HARIMA HEAVY INDUSTRIES LTD. vs. DIRECTOR OF INCOME TAX, MUMBAI

The appeal is allowed in part and to

house the contract is one of sale though work and labour are involved in the making and fixing, nor does it matter that ultimately the property was to pass to the War Office under the head contract. As between the plaintiff and the defendants the former passed the property in the goods to the defendants who passed

THE SOUTH INDIAN BANK LTD. vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE HRISHIKESH ROY

Income from house property, Profit & Gains of business or profession, Capital Gains & Income from other sources. The Section 14A relates

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

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

properties are exposed whether they do business or not. The loss in such a case may be said to fall on the assessee not as a person carrying on business but as owner of funds. This distinction, though fine, is very material as on it will depend whether deduction could be made under s. 10(1) or not.” (emphasis supplied

RAJASTHAN STATE WAREHOUSING CORPN. vs. COMMR. OF INCOME TAX

The appeal is allowed with costs

house properties or different securities etc., and income from one or more items alone is taxable whereas income from the other item is exempt under the Act, the entire permissible expenditure in earning the income from that head is deductible; and (iii) in computing profits and gains of business

RAJ PAL SINGH vs. COMMISSIONER OF INCOME TAX HARYANA

In the result, this appeal fails and is, therefore, dismissed

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

house property was accepted and the addition made by AO in that regard was deleted but, on examination of the award dated 29.09.1970, the CIT(A) found that the assessee was paid Rs.62,550/- as compensation and Rs.9,532/- as solatium and yet, capital gains on this account were not taxed by the 9 For short

C0MMNR. OF INCOME TAX, NEW DELHI vs. ORIENTAL FIRE & GENERAL INSURANCE CO.LTD

Bench: The Controller Of Insurance.

business in insurance is governed by Section 44 thereof and Rule 5(a) of the First Schedule appended thereto, which read as under : "S.44.-Notwithstanding anything to the contrary contained in the provisions of this Act relating to the computation of income chargeable under the head "Interest on securities", "Income from house property

THE INCOME TAX OFFICER, vs. URBAN IMPROVEMENT TRUST

The appeals are allowed

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

house property", "Capital gains" or "Income from other sources" or from a trade or busi- ness carried on by it which

INCOME TAX OFFICER AND ANR. vs. V.MOHAN AND ANR

Bench: HON'BLE MR. JUSTICE A.M. KHANWILKAR

business earnings, gifts, etc.  The plea so taken by the respondents has been completely discarded.   22. It   is   urged   that   neither   the   Competent   Authority   nor   the Appellate Tribunal took into account that no reasons have been recorded on the basis of which it was believed that the properties of the respondents were illegally acquired.  Relying on the dictum in Nazir