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

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

set-off losses, etc. However, deviations are made by DTAA in cases of royalty, interest, etc. Such deviations are also made under the IT Act (for example Sections 44-BB, 44-BBA, etc.). 36. Under the impugned ruling delivered by AAR, remuneration to MSAS was justified by a transfer pricing

M/S.SK.AR.K.AR.SOMASUNDARAM CHETTIAR&CO. vs. COMMISSIONER OF INCOME TAX, MADRAS

set off against his income, profits or gains under any other head in that years : 53 Provided that in computing the profits and gains chargeable under the head ‘profits and gains of business, profession or vocation’, any loss sustained in speculative transactions which are in the nature of a business shall not be taken into account except to the extent

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

IPCA LABORATORY LTD. vs. DY. COMMNR. OF INCOME TAX, MUMBAI

loss of Rs. 6.86 crores. It therefore becomes necessary to look at Section 80HHC of the Income Tax Act. The relevant portions of Section 80HHC reads as follows: "80HHC. DEDUCTION IN RESPECT OF PROFITS RETAINED FOR EXPORT BUSINESS. (1) Where an assessee, being an Indian company or a person (other than a company) resident in India, is engaged

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

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

set off the loss against the paid-up equity share capital. The High Court ordered for a reduction in the share capital of the company from 15,35,05,750 shares to 10,000 shares. Consequently, the share of the assessee was reduced proportionately from 15,33,40,900 shares to 9,988 shares. However, the face value of shares

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

set out), Bhagwati, J., observed that “it would be absurd to suggest that the profits of the company could accrue from day to day or even from month to month”. The working of the company from day to day could certainly not indicate any profit or loss, even the working of the company from month to month could

M/S. D.J. MALPANI vs. COMMISSIONER OF CENTRAL EXCISE, NASHIK

Bench: HON'BLE THE CHIEF JUSTICE

loss statement for any year. This Court considered the question in great detail and after referring to Professor Wilson’s Glossary and Molesworth’s Dictionary observed that Dharmada means “an alms or a gift in charity”. This Court observed that though there might be some vagueness as a matter of law, in the word Dharma, there was none in relation

VODAFONE IDEA LTD(EARLIER KNOWN AS VODAFONE MOBILE SERVICES LIMITED vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 26 (2)

Bench: HON'BLE THE CHIEF JUSTICE

Transfer Pricing Adjustment, Capitalization of Licence Fees, 3G Spectrum Fees, Asset Restoration Cost Obligation including the effect of amalgamation of group entities which required thorough scrutiny and determination. G] During the pendency of said Writ Petition, a letter was issued by the respondent No.1 on 23.07.2018, the relevant portion of which was as under :- "The assessment years for which request

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

COMMNR.,INCOME TAX, THIRUVANANTHAPURAM vs. K. RAVINDRANATHAN NAIR

price or an item incidental to the transfer of the goods dealt with by the assessee. According to High Court, the assessee had processed raw cashew nuts belonging to third parties in his factory for which he received the said charges; that, the purpose behind the said formula was to find out the profits attributable to export turnover i.e. profit

COMMISSIONER OF SERVICE TAX vs. M/S ELEGANT DEVELOPERS

Bench: HON'BLE MR. JUSTICE SANDEEP MEHTA

losses in the transaction if the value of the land exceeded the fixed price agreed upon in the MoUs. This would not be possible if the contract was for providing services based on commission or in any other form. 41. Thus, we are of the firm opinion that the Appellate Tribunal did not commit any error in 35 CIVIL APPEAL

OXFORD UNIVERSITY PRESS vs. COMMR. OF INCOME TAX

The appeals are allowed accordingly

setting of clause (22), the word existing in the expression existing solely for educational purposes and not for the purposes of profit meant and referred to the existence of such University or institution solely for educational purposes in India. In other words, a University or an educational institution, whether established in India or abroad, had to retain the character

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

Appeals are dismissed but in

setting up, operating and maintaining Hotels and Resorts. For http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 2 of 28 designing the Hotels and Resorts, it engaged a foreign company M/s Wimberly Allison Tong & Goo, USA (WAT for short) for providing architectural services including design development drawings. Leela Ventures had entered into four agreements with the said foreign company in respect

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

The appeal is allowed in part and to

set in place. It imposes an obligation on the contractor to supply equipments required therefor. It was to arrange for the engineering services in relation thereto. It was also required to render various other services within India. Ex. D, however, provides for the prices to be paid in respect of offshore supplies and offshore services, onshore supply and onshore services

NAVIN JINDAL vs. ASSISTANT COMMISSIONER OF INCOME TAX

price per share on 6th January, 1992, was Rs.425/-, resulting in a loss of Rs.200/- per share. Consequently, the capital loss suffered by the assessee was Rs.3,00,000/- [1500 x 200] as against the receipt of Rs.56,250/- on renunciation of 1875 PCDs. To complete the chronology of events, on 7th August, 1991, assessee sold 8460 equity shares

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

loss or damage of the goods while in transit, the property in goods remained with Ispat and was not transferred to the buyer at the factory gate. It was also held that in the order acceptance form, it was mentioned that the transport would be by Ispat. Thus, Ispat had assumed responsibility of transportation of the goods

COMMISSIONER OF SERVICE TAX DELHI vs. QUICK HEAL TECHNOLOGIES LIMITED

In the result, the appeals are allowed

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

price, evidenced by the Receipt. Quick Heal   grants   the   Licensee,   a   non­exclusive   and   non­ transferable right. Quick Heal reserves all rights not expressly granted, and retains the title and ownership of the software, including all subsequent copies in any media. This software and the accompanying written materials   are   the   property   of   Quick   Heal   and   are copyrighted.   Copying   of   the   software

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

setting forth directions or instructions, not being prejudicial to assessees, as the guidelines, principles or procedures to be followed in the work relating to assessment. Such instructions may be by way of relaxation of any of the provisions of the sections specified there or otherwise. The Board thus has power, inter alia, to tone down the rigour