THE PRINCIPAL COMMISSIONER OF INCOME TAX 4 MUMBAI vs. M/S S.G. ASIA HOLDINGS (INDIA) PVT. LTD

The Appeal is allowed to the aforesaid extent

Bench: HON'BLE THE CHIEF JUSTICE

20-05-2003 (SUPERSEDED BY INSTRUCTION NO.15/2015 (F.NO.500/9/2015-APA-II), DATED 16-10-2015) Civil Appeal No. 6144 of 2019 @ SLP(C)No.12126 of 2019 The Principal Commissioner of Income Tax-4, Mumbai vs. M/s. S.G. Asia Holding (I) Pvt. Ltd. 5 The provisions relating to transfer price contained in sections 92 to 92F of the Income-tax Act, have come

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

Bench: HON'BLE THE CHIEF JUSTICE

20-A) of the IT Act, 1961 has to be understood in its wide sense. It was urged that development authorities like NOIDA fall under Section 2(15) of the IT Act, 1961 if they satisfy the test in Section 11(7) of the IT Act, 1961. It was contended that Surat Art Silk (supra) was clear that engagement

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

The appeals are allowed

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

10 of 112 under Section 153 of the Act as it is in the nature of an exception to the latter provision. 4.2 It was submitted by Sri Venkataraman that under Section 144C of the Act, non-obstante clauses have been used in three sub- sections and the import of those clauses have to be clearly interpreted. In this context

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

20 (1989) 3 SCC 488 21 (2018) 9 SCC 1 (5-Judge Bench) 30 restrict a provision that Parliament has intentionally couched in broad terms. Illustratively, waiver of a trading liability has been treated as taxable business income under Section 28, as held in Commissioner of Income Tax v. T.V. Sundaram Iyengar & Sons Ltd.22 Again, in Commissioner of Income

COMMNR. OF CENTRAL EXCISE, HYDERABAD vs. M/S. DETERGENTS INDIA LTD

Bench: Cegat Was Also Dismissed By The Impugned Judgment Dated 22.4.2003. 2

transferred from one company to another; depots of Shaw Wallace and DIL were in the same premises; DIL sends monthly newsletters to Shaw Wallace showing production, despatches, purpose, technical problems, quality problems, details of power consumption etc. - and Shaw Wallace fixes the price of DIL products; and unsecured loans of approximately Rs.55 lakhs were given by Shaw Wallace

SAP LABS INDIA PRIVATE LIMITED vs. INCOME TAX OFFICER CIRCLE 6 (1) (1) BANGALORE

Appeals are allowed

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

20. Section 92C(1) thus visualizes determination of the “arms-length price” (ALP) by any of five enumerated methods, “being the most appropriate method”, having CA 8463/2022 ETC. Page 24 of 29 regard to the “nature of transaction or class of transaction or class of associated persons or functions performed by such persons or such other relevant factors

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

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

20. We have already analyzed Section 80-IA of the Act. There is no dispute that respondent-assessee is entitled to deduction under Section 80-IA of the Act for the relevant assessment year. The only issue is with regard to the quantum of profits and gains of the eligible business of the assessee and the resultant deduction under Section

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

20 years to a Government College, being S.A. Jain College, Ambala City6; 4 Hindu Undivided Family. 5 For short, ‘the subject land’ or ‘the land in question’. 6 For short, ‘the College’. 3 and the lease was to expire on 31.08.1967. Later on, the College moved the Government of Haryana for compulsory acquisition of the subject land. While acting

COMMISSIONER OF INCOME-TAX, KERALA, ERNAKULAM vs. TRAVANCORE SUGAR & CHEMICALS LTD

prices not exceeding cost plus 1501. Under cl. 7 the Government shall be entitled to 20% of the net profits computed on the gross income less expenditure, depreciation and remuneration to the Secretaries and treasurers and under cl, 10 the Government is to have a director nominated who would not interfere with the normal management. It is contended that

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

Appeals are dismissed

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

Section   28   after   deducting   the purchase   price.     Therefore,   in   these   two   categories   of securities, the benefit of deduction of interest for the broken period will be available to Banks.  20. If deduction on account of broken period interest is not allowed, the broken period interest as capital expense will have to be added to the acquisition cost of the securities

COMMR.OF CUSTOMS (IMPORT) MUMBAI vs. M/S GANPATI OVERSEAS THR. ITS PROPRIETOR SHRI YASHPAL SHARMA

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

transfer of the differential amount. Therefore, the adjudicating authority opined that he had no reason to accept the plea of the respondents that the statements of Mr. Yashpal Sharma and Mr. Suresh Chandra Sharma were not voluntary and should not be relied upon. This plea was taken only as an afterthought. 14 6.3. Contention of the respondents that the declared

SAHARANPUR ELECTRIC SUPPLY CO. LTD. ETC. ETC. vs. COMMISSIONER OF INCOME-TAX ETC.ETC

transfer 124 of the asset and will not be a wobbling or fluctuating one. [138G-H, 139A] 5.6 There is no difficulty or anomaly resulting from the Revenue’s interpretation in the Calculation of assessable profits under Section 41(2) or the allowances under Section 32(1)(iii). [139B, E] Birmingham Corporation v. Barnes [1935] 3 I.T.R. Supp

THE COMMISSIONER OF INCOME-TAX, BOMBAY CIRCLE II vs. THE NATIONAL SYNDICATE, BOMBAY

20, 1945. In the sale of the buildings, machinery and plant there was an excess, such as is described in the second proviso, and that amount of excess was sought to be taxed. This was negatived by this Court on two grounds. They were (a): " If the machinery and plant have not at all been used at any time during

ASSTT DIRECTOR OF INCOME TAX I NEW DELHI vs. M/S E FUNDS IT SOLUTION INC

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

Transfer Pricing Officer by his order dated 22nd February, 2006, has specifically held that whatever is paid under various agreements between the US companies and the Indian company are on arm’s length pricing and that, this being the case, even if a fixed place PE is found, 15 once arm’s length price is paid, the US companies

CHIEF COMMISSIONER OF CENTRAL GOODS AND SERVICE TAX vs. M/S SAFARI RETREATS PRIVATE LIMITED

Appeals are partly allowed in above terms

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

transfer of ITC from one stage to another. Moreover, GST is a destination-based tax on consumption, and accordingly, the final burden of the tax must be borne by the customers and not the businesses. If the entire scheme of the CGST Act is perused, except for clauses (c) and (d) of Section 17(5), the ITC is not denied

COMMNR. OF CUSTOMS vs. M/S. FERODO INDIA PVT. LTD

10. To determine the assessable value for the levy of customs duty on imported goods, Section 14 of the 1962 Act has to be read with the provisions of CVR, 1988 because under Section 14(1) there is reference to a deemed price of goods imported and under Section 14(1A) such deemed price is to be determined in accordance

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

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

Section 66 B accompanied by the definition of service under Section 65B (44) and the legislature further providing for the negative 80 list of services which stood excluded from the levy of service tax in Section 66 D, the question would only be whether there is any service and whether it is excluded under Section 66 D. The relevant part

COMMISSIONER OF CUSTOMS AND C.E.NAGPUR vs. M/S. ISPAT INDUSTRIES LTD

10 Page 11 JUDGMENT premises of manufacture or production for delivery at the place of manufacture or production, or if a wholesale market does not exist for such article at such place, at the nearest place where such market exists, or (b) where such price is not ascertainable, the price at which an article of the like kind and quality