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

The appeals are allowed

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

section 92CA and forwards such order to the Assessing Officer, the Assessing Officer shall proceed to modify the order of assessment or reassessment or recomputation, in conformity with such order of the Transfer Pricing Officer, within two months from the end of the month in which such order of the Transfer Pricing Officer is received by him. (6

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

6. In General Radio & Appliances Co. Ltd. v. M.A. Khader [General Radio & Appliances Co. Ltd. v. M.A. Khader, (1986) 2 SCC 656], the effect of amalgamation of two companies was considered. M/s General Radio and Appliances Co. Ltd. was tenant of a premises under an agreement providing that the tenant shall not sublet the premises or any portion thereof

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

GUNWANTLAL GODAWAT vs. UNION OF INDIA CUSTOM AND CENTRAL EXCISE THROUGH COMMISSIONER

The appeals are disposed of as indicated above

Bench: HON'BLE MR. JUSTICE J. CHELAMESWAR

price of total seized and confiscated Gold 240.040 kgs came to be 11.04 crores and the redemption fine cannot be in any way less than this. 21. Thus, in the ultimate analysis, it is candidly recorded that the quantity of redemption fine should be related to the market value of gold on 7.12.1994 i.e. the date of adjudication when

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

6. While determining the aforesaid issue, the relevant provisions for determining the arm’s length price under the IT Act are required to be referred to. Section 92-C which is relevant, for the purpose of determining ALP inter alia, reads as follows: “92C. (1) The arm's length price in relation to an international transaction [or specified domestic transaction

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, then for the purpose of deduction under Section 80-IA, the profits and gains of such eligible business shall be computed by adopting arm’s length pricing. In other words, if the assessing officer rejects the price as not corresponding to the market value of such good, then he has to compute the sale price of the good

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

Appeals are dismissed

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

6 F. 894 : 5 Tax Cas. 159.]. “that   enhanced   values   obtained   from realization   or   conversion   of   securities may   be   so   assessable   where   what   is done   is   not   merely   a   realization   or change of investment, but an act done in what is truly the carrying on, or carrying out, of a business”. In the ordinary case of a Bank, the business

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

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

6 9. The Revenue went in appeal before the High Court. The High Court while dismissing the appeal filed by the Revenue and affirming the order passed by the ITAT observed in para 8 as under: “Undisputed facts are, pursuant to the order passed by the High Court of Bombay, number of shares has been reduced

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

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

Transfer of Property Act, the assessee cannot now turn back and say that because of its default in having a deed registered at its sweet will it 60 was not an owner within the meaning of Section 22 of the Act. It may bear repetition to say that it was on account of these facts that juristic principles have

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

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

price were made. One and only ‘evidence’ relied upon by the department was the initial value shown in the export declarations which was declared to be incorrect by the supplier itself and later on rectified. Thus, there was no mis-declaration either in respect of description of the goods or value of the goods. No question of confiscation under Sections

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

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

6 \026 Fall-Back Method (Rule 8) When the customs value cannot be determined under any of the previous methods, it has to be determined using reasonable means consistent with the principles and general provisions of the CVR, 1988 and Section 14(1) of the 1962 Act and on the basis of data available in India. To the great extent

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

6 of 91 concerning the challenge to constitutional validity can be summarised as follows: a. Section 17(5)(d) is violative of Article 14 since it classifies assessees engaged in the business of constructing immovable properties and then renting/leasing/letting out etc. premises within the said immovable properties on the same footing as assessees engaged in the business of constructing immovable

COMMISSIONER OF CENTAL EXCISE AND SERVICE TAX ROHTAK vs. M/S. MERINO PANEL PRODUCT LTD

Bench: HON'BLE THE CHIEF JUSTICE

6 No. 643/34/2002-CX 7 | P a g e partly to independent buyers? related buyers since as per Section 4(1) transaction value is to be determined for each removal. For sales to unrelated buyers valuation will be done as per Section 4(1)(a) and for sale of the same goods to related buyers recourse will have to be taken

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

COMMISSIONER OF INCOME TAX, MADRAS vs. M/S. MADURAI MILLS CO. LIMITED

6 of 7 the purpose of distributing the assets amongst the legatees. The excess realised by sale was treated by the department as capital gains. The contention of the assessee was that since the sale of the shares and securities fell within the purview of the third proviso to section 12(B)(1), it could not be treated

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

Appeal is disposed of accordingly

6 Page 7 JUDGMENT ''transaction value" means the price actually paid or payable for the goods, when sold, and includes in addition to amount charged as priced, any amount that they buyer is liable to pay to, or on behalf of, the assessee, by reason of, or in connection with the sale, whether payable at the time of sale