C.I.T.,MUMBAI vs. M/S.WALFORT SHARE & STOCK BROKERS P.LTD

Bench: S.H. KAPADIA SWATANTER KUMAR

gains. Profits have to be computed after deducting losses and expenses incurred for business. A deduction for expenditure or loss which is not within the prohibition must be allowed if it is on the facts of the case a proper Debit Item to be charged against the Incomings of the business in ascertaining the true profits. A return of investment

MEENAKSHI MILLS, MADURAI vs. THE COMMISSIONER OF INCOME-TAX,MADRAS

In the result, the appeals fail, and are dismissed with

gains’ arising from it. Here we have a statutory phrase involving a charge of tax and it is for the courts to interpret its meaning having regard to the context in which it occurs and to the principles which they bring to bear upon the meaning of ’income’ ". Lord Somervell agreed with the opinion expressed by Lord Radcliffe. The Lord

STANDARD CHARTARD BANK vs. ANDHRA BANK FIANANCIAL SERVICES LTD.&ORS

In the result, we allow both the appeals and set aside the impugned

Bench: Y.K. SABHARWAL B. N. SRIKRISHNA P.P. NAOLEKAR

Capital Issues to be sold to banks and financial institutions for private placement. On 24.2.1992 Andhra Bank Financial Services Ltd. (hereinafter referred to as "ABFSL") made an offer to NPCL for placing Rs. 100 crores \026 Rs. 50 crores in 9% tax free bonds and Rs. 50 crores in 17% taxable bonds. On 26.2.1992 NPCL wrote to ABFSL confirming

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 HON'BLE MR. JUSTICE UJJAL BHUYAN

capital or revenue receipt. This additional issue has been raised in Civil Appeal No.9917 of 2017 (Assistant Commissioner of Income Tax Vs. M/s Godawari Power and Ispat Pvt. Ltd.) and also in Civil Appeal No.8983 of 2017 (Assistant Commissioner of Income Tax Chhattisgarh Vs. M/s Godawari Power and Ispat Pvt. Ltd.) RECOMPUTATION OF DEDUCTION UNDER SECTION

SHEO NATH SINGH vs. APPELLATE ASSISTANT COMMISSIONER OFINCOME TAX, CALCUTTA

In the result, the appeal is allowed and the judgment of the

purchased by the said M. S. Oberoi. It was maintained by the assessee that he has ,filed returns of his income in respect of the relevant assessment years and that during the assessment for the year 1945-46, the assessee had disclosed to the Income-tax Officer, District II,(2) Calcututa that he had received the aforesaid amount

AJITSINGH HARNAMSINGH GUJRAL vs. STATE OF MAHARASHTRA

Bench: MARKANDEY KATJU CHANDRAMAULI KR. PRASAD

bogus. 38. It is difficult for us to speculate as to why the accused fled from the scene of the crime carrying cash of Rs.7,68.080/- apart from 7 safari suits and that too without a driver or an assistant, all of whom were easily available to him. It is quite possible that after having committed this horrible crime

RAM NARAIN POPLY vs. CENTRAL BUREAU OF INVESTIGATION

gain in the instant case; the fact that the transactions took place at a time in which three of them were beyond the time period for which the Special Court exercises jurisdiction; the fact that all five transactions were prior to the RBI circular of 26.7.1991; the allegation of A-5 against the then PM; the abdication

ALOKE NATH DUTTA vs. STATE OF WEST BENGAL

Bench: S.B. SINHA DALVEER BHANDARI

bogus as no person called Biswanath had been residing there. They came back to Premises No.2C, Beadon Street. They insisted upon Aloke Nath to disclose the whereabouts of Biswanath, whereupon Aloke Nath allegedly broke down and made an extra judicial confession before them, as also Nandlal Singh and some tenants, that he had throttled Biswanath to death. While commotion

STATE (N.C.T. OF DELHI) vs. NAVJOT SANDHU @ AFSAN GURU

Bench: P. VENKATARAMA REDDI P.P. NAOLEKAR

purchasing the incriminating material cannot be proved by invoking Section 27. We have referred to this decision in Ramanuja Ayyangar’s case for the reason that the expression ’fact’ was given a wider meaning in this case\027 which is the meaning now sought to be given by Mr. Gopal Subramnium. In Attappa Goundan’s case, the connotation

BIKRAM CHATTERJI vs. UNION OF INDIA

purchasable. The calculations made by Amrapali based on FAR of 3.50 is itself wrong. FAR has not yet been purchased by Amrapali group by depositing the charges and submission of consent of two-thirds of the 57 apartment owners. Under section 4(2)(1)(D) of RERA, 70% of the amount received from home buyers

STATE OF MAHARASHTRA TRHU CBI vs. VIKRAM ANANTRAI DOSHI

The appeal is allowed, and the order

Bench: DIPAK MISRA VIKRAMAJIT SEN

Capital was sanctioned only for the purpose of taking over the liabilities of UTI Bank and Federal Bank yet they dishonestly diverted the funds to SBI and Dena Bank. The sanctioned money, as alleged, was not used for the purpose it was availed of and the sanction terms and conditions were violated as a consequence of which the Page

BINOY VISMAN vs. UNION OF INDIA

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

bogus bank and demat accounts were opened through use of PANs. The real PAN owners were not aware of these accounts. (b) As Banks progressively started insisting on PANs for opening of bank accounts, unscrupulous operators managed multiple PANs for providing entries and operating undisclosed accounts for making financial transactions. (c) Entry operators manage a large number of shell companies

JUSTICE K.S.PUTTASWAMY(RETD) vs. UNION OF INDIA

Appeal is allowed accordingly

Bench: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE A.K. SIKRI HON'BLE MR. JUSTICE A.M. KHANWILKAR HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE ASHOK BHUSHAN

gained for him universal esteem not only for his courage but also for his inflexible judicial independence. If his judgment is not considered in detail it is because under the theory of precedents which we have adopted, a dissenting judgment, however valuable, does not lay down the law and the object of a critical examination of the majority judgments

ZAKIA AHSAN JAFRI vs. THE STATE OF GUJARAT

Bench: HON'BLE MR. JUSTICE A.M. KHANWILKAR HON'BLE MR. JUSTICE DINESH MAHESHWARI HON'BLE MR. JUSTICE C.T. RAVIKUMAR

purchase anything from Muslim shops, don’t travel in their vehicles or visit their garages; don’t watch films which feature Muslim stars. In this way, we can break their financial backbone”. According to the appellant, the SIT has chosen to turn a complete blind eye to this official documentary material and other material on record, despite the fact that