PRAKASH NATH KHANNA vs. COMMNR OF INCOME TAX

68,039/- is based on no evidence and is contrary to the materials on record. 4. The petitioners in reply to show cause notice issued pleaded that the delay in submission of http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 3 of 13 returns was unavoidable, because their share of profit from the firm in which they were partners

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

losses. 7 Explanation.—For the purposes of this clause, “net worth” shall have the meaning assigned to it in clause (ga) of sub-section (1) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986); or (viii) the amount of profits eligible for deduction under section 80HHC, computed under clause

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

carry-forward loss of Rs. 15,53,487.72 originally claimed by the appellant was reduced to Rs. 11,02,225.00. By order dated nil September, 2002, the Deputy Commissioner of Income Tax levied a penalty of Rs. 31,71,692.00. He distinguished the decision of the Punjab http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 4 of 17 and Haryana High

BASIR AHMED SISODIA vs. THE INCOME TAX OFFICER

Appeal is allowed

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

carry   forward   loss, deduction, allowance or relief claimed in the return, and as a result of which,­ (i) if any tax or interest is found due, an intimation shall be sent to the assessee specifying the sum so payable, and such intimation shall be deemed to be a notice of demand issued under section 156 and all the provisions

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.

68,676/- and demand of Rs.96,98,801/-, inclusive of interest at Rs.55,53,882/- was raised after adjusting pre-paid tax of Rs.5,23,756/-. The Department then issued show- cause notice for prosecution under Section 276CC on 14.6.1996. Later, sanction for prosecution was accorded by the Commissioner of Income Tax on 3.10.1996. 7. A-3 also failed

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

68,717/- Writ Petition No.2267 of 1992 was filed by the assessee in the High Court of Judicature for Rajasthan, Bench at Jaipur. Learned Single Judge vide judgment dated 19.01.1993 allowed the writ petition quashing the levy of additional tax under Section 143(1-A). The Revenue aggrieved by the judgment of the learned Single Judge filed a Special Appeal

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

forward of losses (of the transferor company), depreciation, etc., are allowed to the transferee. Therefore, unlike a winding up, there is no end to the enterprise, with the entity. The enterprise in the case of amalgamation, continues. 31. In Maruti Suzuki (supra), the scheme of amalgamation was approved on 29.01.2013 w.e.f. 01.04.2012, the same was intimated

COMMISSIONER OF GST AND CENTRAL EXCISE vs. M/S CITIBANK N.A

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

forwarded to the merchant establishment. The transaction based on the credit card goes through. Lastly, the transaction receipt is signed. It is not disputed that the issuing bank earns Rs.2/- in the illustrated transaction of Rs.100/-. It is again clear that this amount does not enter the measure of service tax, which the issuing bank pays on the service rendered

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

68,516/- to the taxable income on the ground that the provision for bad and doubtful debt was not allowable under Section 36(1)(vii) of the IT Act. The appellant claimed that the “Provision for NPA”, however, represented “loss” in the value of assets and was, therefore, allowable under Section 37(1) of the IT Act. This claim

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

carried forward, deduction, allowance or relief claimed in the return, which, on the basis of the information available in such return, accounts or documents, is prima facie inadmissible, shall be disallowed. Provided further that where adjustments are made under the first proviso, an intimation shall be sent to the assessee, notwithstanding that no tax or interest is found due from

COMMR.OF INCOME TAX-I,NEW DELHI vs. VATIKA TOWNSHIP P.LTD

Appeals of the assessees are allowed deleting the surcharge levied by the

68, 69, 69A, 69B and 69C shall, so far as may be, apply and references to financial year in those sections shall be construed as references to the relevant previous year falling in the block period including the previous year ending with the date of search or of the requisition. (3) The burden of proving to the satisfaction

M/S ARMOUR SECURITY (INDIA) LTD. vs. COMMISSIONER, CGST, DELHI EAST COMMISSIONERATE

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

loss to say that the DGGI is raising a question about credibility and competence of the State GST Authorities, in carrying out the investigation concerning wrong/inadmissible availment of Input-tax Credit, inasmuch as, the Page 25 of 66 officers of the DGGI does not enjoy any special power or privilege in comparison with the officers of the State GST Authorities

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

The appeal is allowed

forward thereof to the subsequent year as against taxable long term capital gain of Rs.3,09,78,428/- . The disclosure made of the particulars of income in the return under the head capital gain by the assessee is certainly incorrect for which the impugned penalty is exigible. The assessee cannot take shelter under a report of a registered valuer which

VINUBHAI MOHANLAL DOBARIA vs. CHIEF COMMISSIONER OF INCOME TAX

The appeal is disposed of in the aforesaid terms

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

carrying forward and to set off losses it is treated as one filed within sub-section (1) or (2) cannot be pressed into service to claim it to be actually one such, though it is factually and really not by extending it beyond its legitimate purpose. 22. Whether there was wilful failure to furnish the return is a matter which

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

forward to the next week. This Court was, therefore, of the opinion that it was not possible to say that any advantage of enduring benefit in the capital field was acquired by the assessee in purchasing the loom hours. 22.3. Even applying the test of fixed and circulating capital, this Court was of the view that it would

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

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

68-70 (Annexure R XIII). As the work of Directorates of Inspection and Revenue Intelligence has been carved out from the work originally performed by the Collectorates of Customs and Central Excise and as no separate personnel was recruited to man the posts in these two Directorates, the members of the Indian Customs and Central Excise Service Class I have

ASSISTANT COMMISSIONER OF INCOME TAX vs. SHELF DRILLING RON TAPPMEYER LIMITED

The appeals are allowed

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

section in case of a conflict with what is contained in the non obstante clause as stated above. 83. Further, a non obstante clause has to be distinguished from the expression “subject to” where the latter would convey the idea of a provision yielding place to another provision or other provisions to which it is made subject to. Also

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

loss in case his calculations are wrong, and leave them to determine whether the business shall be 20 continued or not. Moreover, it is not enough to consult  only   the   largest  creditors.   There   is   no insolvency within the meaning of this offence if a careful, prudent, and unhurried realization of the assets would produce enough to pay loop