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

13 SCC 1 52 lower. This is how business profits arising during the year need to be computed. This is one more reason for reading Section 37(1) with Section 145. 29. For valuing the closing stock at the end of a particular year, the value prevailing on the last date is relevant. This is because profits/loss is embedded

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

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

M/S. STEEL AUTHORITY OF INDIA LTD. (UNIT BHILAI STEEL PLANT) ISPAT BHAWAN . THROUGH ITS SR. MANAGER (F AND A) vs. COMMISSIONER OF CENTRAL EXCISE RAIPUR

Bench: Us. 2. Very Briefly Put, The Question Which We Are Called Upon To Consider & Resolve Is As To Whether Interest Is Payable On The Differential Excise Duty With Retrospective Effect That Become Payable On The Basis Of Escalation Clause Under Section 11Ab Of The Central Excise Act, 1944 (Hereinafter Referred To As “The Act”). 3. In This Batch Of Appeals, We Will Treat C.A. No.2150/2012 As The Leading Case. We Will Refer To The Said Case As The Sail Case. In The Said Case Originally, The Appellant Company Which Is Manufacturer Of Various Products Including Rail

transfer of possession. However we 17 need not say anything further as it is not necessary for the cases at hand. Section 3 is the charging section. With effect from 1.7.2000 under the Finance Act of 2000, Section 4 of the Act which is crucial for our case reads as follows: “4. Valuation of excisable goods for purpose of charging

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

price of the land fixed by the Collector to the land owners. From the copy of the jamabandi attached with this file, khasra Nos. 361 and 364 measuring 5 kanals and 7 marlas were not on the lease with the college. But the Management is claiming compensation for this land also. In these circumstances, the college management cannot be awarded

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

transfer pricing, the arm’s length price is to be determined taking into consideration the guidelines stipulated under the aforesaid provisions of the IT Act and the Rules. It is submitted that therefore it is always open for the High Court to consider and/or examine, whether the guidelines stipulated under the Act and the Rules, while determining

PRINCIPAL COMMISSIONER INCOME TAX 4 BENGALURU 2 vs. M/S JUPITER CAPITAL PRIVATE LIMITED

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

transfer of a capital asset is liable to be taxed under Section 45 of the Act. 12. When as a result of the reducing of the face value of the shares, the share capital is reduced, the right of the preference shareholder to the dividend or his share capital and the right to share in the distribution

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

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

13 of the DTAA was to provide exemption only for gains arising from the transfer of shares of an Indian company, and that such exemption was never intended for the transfer of shares of a company not resident in India. Furthermore, the AAR held that there was no foreign direct investment made by the respondent companies in India and, therefore

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

transfer of goods and services at the price such goods would ordinarily fetch on sale in the open market. 15 11.9. Thereafter, respondent assessee has referred to the meaning of the expression “market price” and also various case laws on such meaning. Assessee has contended that in order to determine the market price of any goods or services, open market

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

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

Sections 111(d) and 111(m) of the Customs Act was made out. That apart, the goods were not prohibited ones, the import of which would warrant confiscation. In any view of the matter, the goods on being cleared by the customs authority were sold by the noticees much before the issuance of the show cause notice. Therefore, there cannot

LIPI BOILERS LTD. THROUGH ITS CHIEF EXECUTIVE vs. THE COMMISSIONER OF CENTRAL EXCISE, AURANGABAD

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

13) of the Motor Vehicles Act, 1988, Section 2(f) of the Micro, Small and Medium Enterprises Development Act, 2006, Section 2(14) of the Bureau of Indian Standards Act, 2016 and Section 2(21) of the Consumer Protection Act, 2019, respectively, this Court concluded that the definition of “goods” under the Sale of Goods Act, 1930 seems

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 analysis placed by the taxpayer is exhaustive of attribution of profits and that would depend on the functional and factual analysis to be undertaken in each case. Lastly, it may be added that taxing corporates on the basis of the concept of economic nexus is an important feature of attributable profits (profits attributable to PE).” (at pages

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

Section 14(1) of the 1962 Act and on the basis of data available in India. To the great extent possible, this method is based on previously determined values and methods with a reasonable degree of flexibility in their application. Basis of CVR, 1988 12. Article 7 of GATT, 1994 is the foundation of the CVR, 1988. The said Article

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

13. It will be seen that three important changes have been made in the amended Section 4 so far as the present case is concerned. First, the value of excisable goods is deemed to be the “normal price” thereof that is the price at which such goods are ordinarily sold by the assessee to a buyer in the course

M/S. PUROLATOR INDIA LTD. vs. COMMNR. OF CENTRAL EXCISE, DELHI-III

Appeal is disposed of accordingly

transfers, the appellant filed declarations under Rule 173C with the excise department. In these declarations, the appellant claimed deduction towards Sales Tax, Cash Discount and Volume Discount on excise duty payable to arrive at the assessable value under Section 4 of the Central Excise and Salt Act, 1944. 3. Apart from undertaking manufacturing activities, the appellant at times also receives

WIPRO LTD. vs. ASST. COLLECTOR OF CUSTOMS

The appeals are allowed in the aforesaid terms with no order as to

price, again mandates that it is to be “to the extent they are incurred by the buyer”. That would clearly mean the actual cost incurred. Likewise, Clause (e) of sub-rule (1) of Rule 9 which deals with other payments again uses the expression “all other payments actually made or to be made as the condition of the sale

M/S. ASSOCIATED CEMENT COMPANIES LTD. vs. COMNR. OF CUSTOMS

Appeals are dismissed but in

price is not the transfer of a chattel qua chattel, the contract is one of work and labour. After referring to the http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 7 of 28 earlier decisions of this Court in the case of State of Himachal Pradesh vs. Associated Hotels of India Ltd. (1972) 29 STC 474 and the State of Madras

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

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

Section 406 makes it abundantly clear that any such act by a carrier attracts the offence under Section 406. The Court in other words would have to allow the commission of an offence by the appellant in the process of finding that 71 the appellant is the owner of the goods. In other words, proceeding on the basis that there