PR. COMMISSIONER OF INCOME TAX vs. MARUTI SUZUKI INDIA LIMITED

Bench: HON'BLE THE CHIEF JUSTICE

Transfer Pricing Officer8 passed an order under Section 92CA (3) determining the Arm’s Length Price of royalty at 3 per cent and making an adjustment of Rs. 78.97 crores in respect of royalty paid by the assessee for the relevant previous year. 10 On 11 March 2016, a draft assessment order was passed in the name of Suzuki Powertrain

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

148 of the Income Tax Act because the conditions prerequisite for making the reassessments were not satisfied. The re­assessments were made with reference to clause (b) of Section 147 of the Act, and apparently the Income Tax Officer proceeded on the basis that in consequence of information in his   possession   he   had   reason   to   believe   that   income chargeable

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

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

price lower than the cost. The appellant was found to be the owner of the bitumen and the addition was sustained. This order was passed on 05.03.2009. 15. Thereupon, the appellant filed Review Petition No. 102 of 2009. The appellant purported to point out that in separate appeals filed for assessment year 1995-96 and 1996-97 on the same

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

Bench: HON'BLE MR. JUSTICE R. MAHADEVAN

transfer of the CGP share and not by virtue of various clauses of SPA. In a case like the present one, where the structure has existed for a considerable length of time generating taxable revenues right from 1994 and where the court is satisfied that the transaction satisfies all the parameters of “participation in 66 investment” then in such

A.L.A. FIRM vs. COMMISSIONER OF INCOME TAX, MADRAS

148 read with clause (a) of s.147 could not be initiated in these circumstances but is action under clause (b) of that section also impermissible? That is the question. We may now set out the provisions of clause (b) of section 147 for purposes of easy reference. This clause- which corresponds to s. 34(1)(b) of the Indian Income

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 forums

TEA ESTATE INDIA (P) LTD. vs. COMMISSIONER OF INCOME-TAX

prices is not profit of the business, unless such appreciation has been included in the capital gains. The High Court arrived at certain figures of excess profit which was included in the computation of capital gains and held that only that figure was includible in the accumulated profits within the meaning of s. 2(6A) (c). (2) Regarding items

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

SHEKHAWATI GENERAL TRADERS LTD. vs. INCOME TAX OFFICER, COMPANY CIRCLE I, JAIPUR

The appeals are allowed and the

price as on 1-1-1954 in complete disregardof the fact that the same shares had been given bonus shares in the subsequent years after 1-1-54.The Supreme Court had laid down in the case of Dalmia Cement (1964) 52 ITR 567 that while working out the capital gains the cost has to be worked out by averaging cost

HONDA SIEL CARS INDIA LTD vs. COMMISSIONER OF INCOME TAX, GHAZIABAD

In the results. As a consequence, we find no

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

Section 148 of the Income Tax Act (hereinafter referred to as the ‘Act’) stating that said expenditure was capital in nature and, therefore, instalment towards royalty paid in the sum of Rs. 79602000/-, by the assessee to HMCL, Japan in that year had escaped assessment. Ultimately, orders were passed treating the same as capital expenditure. In the subsequent years

PRINCIPAL DIRECTOR OF INCOME TAX (INVESTIGATION) vs. LALJIBHAI KANJIBHAI MANDALIA

The appeal is allowed and the order passed by the High

Bench: HON'BLE MR. JUSTICE HEMANT GUPTA

transferred a sum of Rs. 6 crores on 01.06.2016 and Rs. 4 crores on 21.06.2016 to M/s Goan Recreation Clubs Private Ltd. The assessee secured the loan by way of a mortgage of the property forming part of Survey No. 31/1-A situated in Village Bambolim, Distt. North Goa. It is an admitted fact that the assessee became the Director

M/S. TECHNO SHARES & STOCKS LTD. vs. COMMISSIONER OF INCOME TAX-IV

148 once again declaring loss of Rs. 10,77,276/-, the same as was in the original return of income. The main reason for reopening of assessment under Section 147 was the claim of depreciation by the assessee on BSE membership card amounting to Rs. 23,65,000/-. The claim of depreciation of the assessee was based on Section

SHIV RAJ GUPTA vs. COMMISSIONER OF INCOME-TAX, DELHI IV

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

price as declared of Rs. 30/- is fallacious and off beam. The argument of the assessee suffers from a basic and fundamental flaw which is conspicuous and evident.” This finding flies in the face of settled law. A catena of judgments has held that commercial expediency has to be adjudged from the point of view of the assessee and that

RAMNATH AND CO. vs. THE COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE DINESH MAHESHWARI

148 (SC) and E.P.W. Da Costa (supra). 8.2. Having thus taken note of the rival submissions, the High Court proceeded to analyse Section 80-O of the Act with its Explanation (iii). After reproducing the relevant text of the provisions, the High Court entered into the lexical semantics of the prepositions ‘from’ and ‘in’ with reference to their dictionary meanings

COMMR.OF INCOME TAX-II,CHANDIGARH vs. M/S SWARAJ ENGINES LTD

The Appeal is allowed accordingly with no order as to costs

transfer of technology know-how and trade mark with Kirloskar Oil Engines Ltd. under which royalty was payable it. The claim for deduction in respect of the said payment was made by the respondent. It is important to note that during the relevant Assessment Year 1995-96, royalty was paid by the assessee as a percentage of net selling price

COMMISSIONER OF INCOME-TAX, MADRAS vs. AJAX PRODUCTS LTD. THROUGH ITS LIQUIDATOR

In the result, the appeal fails and is dismissed with costs

price higher than the written down value. The Income-tax Officer taxed the surplus in the assessment year 1956-57invoking the proviso to s. 10(2)(vii) of the Indian Income-tax Act. His order in this respect was upheld by the Appellate Assistant Commissioners well as by the Appellate Tribunal. However the High ,Court held that since there

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

RAJINDER NATH ETC. vs. COMMISSIONER OF INCOME TAX, DELHI

The appeals are allowed, the judgment dated September

Section 153(3) (ii) is not a provision enlarging the jurisdiction of the authority or court. It is a provision which merely raises the bar of limitation for making an assessment order under s. 143 or s. 144 or s. 147. [278D] Income Tax Officer, A-Ward, Sitapur v. Murlidhar Bhagwan Das, 52 ITR 335; N. Kt. Sivalingam Chettiar