COMMNR. OF CUSTOMS (PORT), CHENNAI vs. M/S. TOYOTA KIRLOSKAR MOTOR PVT. LTD

deemed to be \026 The price at which such or like goods are ordinarily sold, or offered for sale, for delivery at the time and place of importation or exportation, as the case may be, in the course of international trade, where \026 (a) the seller and the buyer have no interest in the business of each other

COMMISSIONER OF CUSTOMS (PORT) KOLKATA vs. M/S. STEEL AUTHORITY OF INDIA LTD

The appeal is dismissed

Bench: HON'BLE MR. JUSTICE ANIRUDDHA BOSE

deemed to be— 13 the price at which such or like goods are ordinarily sold, or offered for sale, for delivery at the time and place of importation or exportation, as the case may be, in the course of international trade, where— (a) the seller and the buyer have no interest in the business of each other

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

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

price of shares. Therefore, in the mechanism of capital gains computation, what is relevant is not only the sale of shares but also the purchase of shares. Thus, the entire transaction of acquisition as well as sale 14 of shares, as a whole, is required to be examined, and a dissecting approach by examining only the sale of shares

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

Bench: HON'BLE THE CHIEF JUSTICE

transferred, directly or indirectly, by way of dividend, bonus, or otherwise by way of profit, to persons, who at any time are or had been members of the assessee. The Income Tax Appellate Tribunal (hereafter “ITAT”) after initial remand to the Appellate Commissioner, held that “the primary purpose for which the assessee was established was to promote commerce and trade

THE BANK OF RAJASTHAN LTD. vs. COMMISSIONER OF INCOME TAX

Appeals are dismissed

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

deemed   to   include   any   income, profits or gains from: (1) Investments in (a) securities of the nature  referred  to   in  Section  8  of  the Indian Income Tax Act; or (b) property of the  nature   referred   to  in   Section   9  of that Act; (2) dividends, or      Civil Appeal No.3291­3294 of 2009, etc. Page 31 of 45 (3)   the   ‘other   sources

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

transfer”, but whether the assessee, in consequence of the amalgamation and thereby of its business, has obtained a profit that is real and presently realisable. The well-known real-income principle, as emphasised in E.D. Sassoon and Shoorji Vallabhdas, must be applied. Therefore, the enquiry for the Court is whether, as a result of the amalgamation, the assessee

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

The appeal is allowed in part and to

transfer of any fresh rights in respect of movable or immovable properties so as to require registration under Section 17 of the Registration Act, when the same related to the properties of a partnership firm. Therein by reason of an award, the residue upon settlement of accounts on dissolution of the partnership firm was allocated to the partners

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

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

transfer to the copy/copies any copyright or other marking on the Software or Documentation. d) not use the Software or Documentation for any other purpose than permitted in this Article 20, License or sell or in any manner alienate or part with its possession. e) not use or transfer the Software and/or the Documentation outside India without the written consent

COMMNR. OF INCOME TAX, CHENNAI vs. M/S. BILAHARI INVESTMENT P. LTD

Appeals are dismissed

dividend received exceeded the sum total of discounts suffered which is debited to P & L account. According to the assessees, the Department has all along been accepting the completed contract method and, therefore, there was no justification in law or in facts for deviating from the accepted practice. According to the assessees, a chit transaction has been treated

UCO BANK vs. COMM.OF INCOME TAX, WEST BENGAL

deem fit for the proper administration of this Act and such authorities and all other persons employed in the execution of this Act shall observe and follow such orders, instructions and directions of the Board. Provided that no such orders, instructions or directions shall be issued (a) so as to require any income-tax authority to make a particular assessment

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

dividends derived by the co-operative society from its investments with any other co-operative society, the whole of such income; (e) in respect of any income derived by the co-operative society from the letting of go downs or warehouses for storage, processing or facilitating the marketing of commodities, the whole of such income; (f) in the case