CHIEF COMMNR. OF INCOME TAX, COCHIN vs. M/S. KESARIA TEA CO. LTD

reassessments were made. However, in this appeal, we need not go into the details thereof. On further appeal by the assessee, the Tribunal set aside the addition of Rs.3,02,758/- which was upheld by the Appellate Commissioner. The Tribunal did not agree with the view taken by the first Appellate Authority that there was no cessation of liability within

ASSOCIATED STONE INDUSTRIES (KOTAH) LTD. vs. COMMISSIONER OF INCOME TAX, RAJASTHAN

The appeal is disposed of as above and the matter is

reassessments for the years 1954-55, 1955-56 and 1956-57 were validly made under section 34(1)(b) of the Act? 3. Whether an appeal can lie http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 2 of 14 against an order levying penal interest under section 18A of the Act for the assessment years

COMMNR. OF CENTRAL EXCISE, NEW DELHI vs. M/S. HARI CHAND SHRI GOPAL

exemption notification availed or http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 4 of 15 proposed to be availed, if any; and (e) such other particulars as the Commissioner may direct, and obtain a dated acknowledgement of the said declaration : Provided that such declaration shall be filed on or before the 15th May, 1995 or such extended period as the Assistant

COMMISSIONER OF CUSTOMS vs. M/S CANON INDIA PRIVATE LIMITED

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

exempted from being taxed on import)? Review Petition No. 400 of 2021 Page 15 of 161 (b) Whether an Additional Director General of DRI, who has been appointed as an “officer of Customs” under the Notification dated 07.03.2002, has been entrusted with the functions of “the proper officer” for the purpose of Section 28 of the Act, 1962? 12. This

COMMISSIONER OF AGRICULTURAL INCOME TAX, TRIVANDRUM vs. SMT. LUCY KOCHUVAREED

The appeals are allowed, but in the circumstances of the case we make no

reassessment made to give effect to a direction under section 34. On the first question the High Court found, relying on the decision of this Court in Maharajadhiraj Sir Kameshwar Singh v. State of Bihar, that this was a case of http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 6 of 6 escaped income. In Kameshwar Singh’s case

M/S.JASWAL NECO LTD. vs. COMMNR. OF CUSTOMS, VISAKHAPATNAM

exemption, on the imported materials in respect of which the conditions specified in this notification have not been complied with, together with interest at the rate of twenty-four percent per annum from the date of clearance of the said materials.” 20. A reading of this Notification makes it clear that interest at the rate of 24% per annum

MANSAROVAR COMMERCIAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX DELHI

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

reassess’ the escaped income of an assessee. That the term ‘escaped assessment’ includes both “non- assessment” as well as “under assessment.” 4.8 Insofar as the submission on behalf of the appellants on service of notice is concerned, it is submitted that the principal place of business is the seat of control and therefore notice sent to Delhi is sufficient

COMMISSIONER OF INCOME TAX 14 vs. JASJIT SINGH

The appeals are dismissed in terms of signed

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT

reassessment of any assessment year within the pe- riod of the six assessment years shall abate, is the date of initiation of the search under Section 5 132 or the requisition under Section 132A. For in- stance, in the present case, with reference to the Puri Group of Companies, such date will be 5.1.2009. However, in the case

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

Bench: HON'BLE MR. JUSTICE HRISHIKESH ROY

exempted income is not allowed as a deduction while calculating total income for the concerned assessee. 6. Section 14A was introduced to the Income Tax Act by the Finance Act, 2001 with retrospective effect from 01.04.1962. Page 3 of 22 The new section was inserted in aftermath of judgment of this Court in the case of Rajasthan State Warehousing Corporation

COMMNR.,CENTRAL EXCISE & CUSTOMS, KERALA vs. M/S. LARSEN & TOUBRO LTD

Appeals are disposed of

exempt under the Finance Act, 1994, would fall within its tentacles, which was never the intention of Parliament. 30. It now remains to consider the judgment of the Delhi High Court in G.D. Builders. 31. In the aforesaid judgment, it was held that the levy of service tax in Section 65(105)(g), (zzd), (zzh), (zzq) and (zzzh) is good

GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

exempt, entire transaction used to escape the tax net. Thus to plug this loop hole in the statute, Section 115QA is introduced to provide that where shares are bought back at a price higher than the price at which those shares were issued then, balance amount will be treated as distribution of income to shareholder and Tax@20% will

COMMISSIONER OF INCOME-TAX(CENTRAL) vs. M/S. GWALIOR RAYON SILK MFG.(WVG.)CO.LTD

The appeal is partly allowed

exemptions or depreciation of the value of the capital assets from taxable income. [1027 D] 6. Building which have not been specifically defined to include road in the Act must taken in the legal sense. [1027 D] 7. Section 32 provides depreciation of capital assets in respect of buildings, machinery, plant or furniture. [1027 E] C.I.T. v. Taj Mahal Hotel

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

exempt from payment of excise duty. It was furthermore held that there was no error in the order of assessment passed by the Assessing Officer. It was observed: “38. Similarly, the other discrepancies sought to be pointed out by the learned CIT in his impugned order were duly explained on behalf of the assessee firm leaving no error

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

reassessments were not satisfied. The re­assessments were made with reference to clause (b) of Section 147 of the Act, and apparently the Income Tax Officer proceeded on the basis that in consequence of information in his   possession   he   had   reason   to   believe   that   income chargeable   to   tax   had   escaped   assessment   for   the   two assessment years. From the material before

COMMISSIONER OF CUSTOMS, MUMBAI vs. M/S VIRGO STEEL, BOMBAY

exemption, but the ACC pleaded their inability to provide such Deemed Export Certificate in view of the fact that it had abandoned its project. In the above factual background and on the basis of certain information received by the Marine Preventive Wing of Mumbai, Customs investigations were conducted in regard to the import and illegal sale of steel

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

reassessment of income for the aforesaid assessment years. The Assessing Officer also passed a penalty order dated 14.06.2000 levying a penalty under Section 271 (1)(c) of the Act after being satisfied that the appellant had concealed its income as regards lease rental. 2.3. While various proceedings, such as an appeal before the CIT (A) for the assessment year

SASI ENTERPRISES vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: The Additional Chief Metropolitan Magistrate (Egmore), Chennai, For The Willful & Deliberate Failure To File Returns For The Assessment Years 1991-92, 1992-93 & Hence Committing Offences Punishable Under Section 276 Cc Of The Income Tax Act, 1961 (For Short “The Act”). Complaints Were Filed On 21.8.1997 After Getting The Sanction From The Commissioner Of Income Tax, Central Ii, Chennai Under Section 279(1) Of The Income Tax Act. Appellants Filed Two Discharge Petitions Under Section 245(2) Cr.P.C., Which Were Dismissed By The Chief Metropolitan Magistrate Vide Order Dated 14.6.2006. Appellants Preferred Crl. R.C. Nos.781 To 786 Of 2006 Before The High Court Of Madras Which Were Dismissed By The High Court Vide Its Common Order Dated 2.12.2006, Which Are The Subject Matters Of These Appeals.

reassessment or recomputation under section 147, the Assessing Officer shall serve on the assessee a notice requiring him to furnish within such period, not being less than thirty days, as may be specified in the notice, a return of his income or the income of any other person in respect of which he is assessable under this Act during

COMMNR. OF INCOME TAX vs. HINDUSTAN BULK CARRIERS

The appeals are disposed of accordingly

exemptions and deductions available under the relevant enactments, and to streamline the administrative set-up and make it functionally efficient". Clause 58 of the Bill introduced in Parliament to introduce separate Chapter in the IT Act for "settlement of cases" reads thus :- "Clause 58 : This clause seeks to insert a new Chapter XIXA in the act, making provision for settlement