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

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

Section 36(1)(iii) of the Act and to the facts of that case. It was noted that the borrowed 68 amount in question was not utilized by the assessee in its own business but was advanced as interest free loan to its sister concern. This Court opined that this factum was not really relevant. What was relevant

BASIR AHMED SISODIA vs. THE INCOME TAX OFFICER

Appeal is allowed

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

254 or section 260 or section 262 or section 263 or section 264, the amount on which additional income­tax is payable under clause (a) has been increased or reduced, as the case may be, the additional income­tax shall be increased or reduced accordingly, and,­ (i) in   a   case   where   the   additional   income­tax   is increased, the Assessing

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

68,94,982.00 was the income in respect of which inaccurate particulars had been furnished. The tax was computed at Rs. 31,71,692.00. It was held that the tax sought to be evaded was Rs. 31,71,692.00 and imposed penalty of Rs. 31,71,692.00 (100% of the tax). The Commissioner of Income Tax confirmed the order

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

SANDVIK ASIA LTD. vs. COMMNR.OF INCOME TAX-I, PUNE

In the result, the appeals stand allowed

68,88,220/- and tax thereon at Rs.1,47,88,521. The appellant on 30.04.1986 received a refund of Rs.42,38,260/- and became entitled to receive interest on the refund and requested respondent No.2 to grant interest on refund under Sections 214 and 244 of the Act for the period from 01.4.1977 to 31.03.1986. Assessment Year

PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL) 1 vs. NRA IRON AND STEEL PVT. LTD. THROUGH DIRECTOR

Bench: HON'BLE THE CHIEF JUSTICE

1 (SC) 4 [1977] 107 ITR (SC) 17 The Delhi High Court in CIT v. Oasis Hospitalities Pvt. Ltd.5, held that : “The initial onus is upon the assessee to establish three things necessary to obviate the mischief of Section 68. Those are: (i) identity of the investors; (ii) their creditworthiness/investments; and (iii) genuineness of the transaction. Only when these

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

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

68 of 161 he was a Customs officer under the Customs Act. In addition, that he was entrusted with the functions of the proper officer under Section 6 of the Customs Act. The Additional Director General of the DRI can be considered to be a Customs officer only if he is shown to have been appointed as Customs officer

P.R. METRANI vs. COMMNR. OF INCOME TAX, BANGALORE

Appeals are allowed

1, 1995. Even after this date the section is still available in the statute. Therefore, an inference can safely be drawn in the light of Sub-sections (4) and (5) of Section 132 itself that no limited presumption can be attached to Section 132(4A). At the same time we must also point out that

THE AUTHORITY FOR ADVANCE RULINGS (INCOME TAX) vs. TIGER GLOBAL INTERNATIONAL II HOLDINGS

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

Section 9(1)(i), the capital asset must be situated in India. It also distinguished legitimate tax planning from tax evasion, aligned with Azadi Bachao Andolan, and upheld Vodafone’s transaction. This Court reiterated that TRCs cannot be pierced except in cases involving fraud, sham transactions, etc., and reaffirmed the validity of the Mauritius Route and its inextricable link

M/S NEW NOBLE EDUCATIONAL SOCIETY vs. THE CHIEF COMMISSIONER OF INCOME TAX 1

The appeals are hereby dismissed, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

254. 24 Thus, education i.e., imparting formal scholastic learning, is what the IT Act provides for under the head of “charitable” purposes, under Section 2 (15). 34. The issues which require resolution in these cases are firstly, the correct meaning of the term ‘solely’ in Section 10 (23C) (vi) which exempts income of “university or other educational institution

VIJAY KUMAR TALWAR vs. COMMNR. OF INCOME TAX, DELHI

The appeals are dismissed

254(2) of the Act. 12. The assessee preferred an appeal before the High Court under Section 260-A of the Act. As already stated, the High Court, vide judgment dated 21st December 2001, dismissed the appeal of the assessee, observing that: “To us it appears that the findings recorded by the Commissioner of Income Tax as also

M/S. H.P.L. CHEMICALS LTD. vs. COMMNR. OF CENTRAL EXCISE, CHANDIGARH

section or Chapter notes. Tribunal has totally failed to consider the said interpretation of Rule 1. The Tribunal has further held that since the starting raw materials were not classifiable under Chapter 25, the residue in question cannot be a product covered by Chapter 25. This finding is based on wrong assumptions and reasoning. There is no such requirement