The Commissioner of Inccome Tax-III vs. Speectra Shares AND Scrips Pvt Ltd

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital leading to profits of business, which profits may be either enjoyed or put back into the business to acquire more properties for further profitable exploitation." ITA Nos.11/2008, 12/2008, 279/2010, 282/2010, 292/2010 -25- 8.4 Next decision on the point is Sultan Brothers Pvt. Ltd. The assessee, a limited company, being the plot owner, developed it into a building fitted with

COMMISSIONER OF INCOME TAX-III, HYD vs. M/S. SUJANA METALS LTD, HYD

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Business Income”? (b) Whether income arising from Asset Transfer Agreement shall be taxable under the heads „Capital Gains‟?” 2. To recite

Commissioner of Income Tax, Rajahmundry vs. M/s. Kakinada Coop. Town Bank LTd., Kakinada

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management

income and not as capital gains, as claimed by the appellant. The question of law that arises for determination before the Court is: “whether, the shares invested through a portfolio management ITA No.485/2012 Page 2 scheme, in the circumstances of this case resulted in gains taxable as capital gains or as business

M/S. VJIL CONSULTING LTD., vs. INCOME TAX OFFICER, WARD -3(2), HYDERABAD

Appeal is allowed

Bench: P.SAM KOSHY,S.CHALAPATHI RAO

capital gain should be included for the purpose of computing Book Profit under Section 115JB of the Income Tax Act, 1961?” 3 3. Facts in brief are: The appellant/company was incorporated on 3.2.1992 with an object to commence business

The Commissioner of Income Tax-II vs. The Andhra Bank Employees Co.Operative Bank Limited

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

capital among its members in the course of their banking business. All the income from banking business which is referable to Section 80P(2)(a)(i) of the Act would qualify for deduction under the Act. ‘The business of banking’ is one of many expressions not defined in the Act. Which are the activities that can be considered attributable

Commissioner of Income Tax-II, vs. M/S The A.P.Mahesh Coop. Urban Bank Ltd,

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

capital among its members in the course of their banking business. All the income from banking business which is referable to Section 80P(2)(a)(i) of the Act would qualify for deduction under the Act. ‘The business of banking’ is one of many expressions not defined in the Act. Which are the activities that can be considered attributable

Commissioner of Income Tax -II vs. The Agrasen Coop. Urban Bank Ltd.,

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

capital among its members in the course of their banking business. All the income from banking business which is referable to Section 80P(2)(a)(i) of the Act would qualify for deduction under the Act. ‘The business of banking’ is one of many expressions not defined in the Act. Which are the activities that can be considered attributable

COMMISSIONER OF INCOME TAX-II, HYDERABAD vs. M/s. The A.P.Vardhaman(Mahila)Cooperative Urban

In the result, for the above reasons, these appeals fail and

Bench: V.V.S.RAO,RAMESH RANGANATHAN

capital among its members in the course of their banking business. All the income from banking business which is referable to Section 80P(2)(a)(i) of the Act would qualify for deduction under the Act. ‘The business of banking’ is one of many expressions not defined in the Act. Which are the activities that can be considered attributable

V.C. NANNAPANENI vs. COMMISSIONER OF INCOME TAX,

In the result, the appeals are allowed

Bench: C.V.NAGARJUNA REDDY,T.AMARNATH GOUD

gain”. 3. The appellant as well as the company filed separate appeals before the Commissioner of Income Tax (Appeals), who dismissed the same confirming the orders of the AO. Aggrieved by those orders, the assessee has filed two appeals ITA Nos.642 and 782/Hyd/2002 for the assessment year 1998- 99 and 1999-2000 respectively, and the company filed ITA No.361/Hyd/2003

THE COMMISSIONER OF INCOME TAX III, vs. M/S. SAVIJANA SEA FOODS PVT. LTD.,

Appeals of the Revenue are dismissed

Bench: J SREENIVAS RAO,ALOK ARADHE

business expenditure.” 7. The AO further observed that enquiries had been made with some of flat owners to ascertain the treatment they had given to the said receipt of compensation in their books of accounts and income tax returns. All of them had shown the amount received from the Assessee as capital gains

Commissioner of Income Tax, vs. M/s. Kokivenkateswara Reddy AND others,

Appeals of the Revenue are dismissed

Bench: V.V.S.RAO,RAMESH RANGANATHAN

business expenditure.” 7. The AO further observed that enquiries had been made with some of flat owners to ascertain the treatment they had given to the said receipt of compensation in their books of accounts and income tax returns. All of them had shown the amount received from the Assessee as capital gains

THE COMMISSIONER OF INCOMEE TAX-III vs. M/S.V.B.C.FERRO ALLOYS LTD

THE APPEAL IS DISMISSED

Bench: SUJOY PAUL,NAMAVARAPU RAJESHWAR RAO

income bg uag of diuidends, interest or long-term capital gains of an infrastntcture capital fund or an infrastructure capital compang from inuestments made before the 7"t daA of June, 1998 bg utay of shares or long-terrn finance in ang enterprise carrying on th.e business

The Director of Income Tax (Exemptions) vs. G Pulla Reddy Chritable Trust

In the result, the orders passed by the Commissioner of

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

gains. However, no further action in the matter was taken . 3. Thereafter a notice under Section 263 of the Act was issued by the Commissioner of Income Tax inter alia on the ground that income assessed as income from business in respect of sale of properties as income from capital

The Commissioner of Income Tax IV vs. M/s Matrix Power Pvt Ltd.,

capital gains). Under section 72, a provision has been made for carry forward and setting off of a loss sustained against the head of profits and gains of business or profession. Under section 72, where a loss which has been sustained under the head of profits and gains of business or profession cannot be set-off against income

The Commissioner of Income Tax IV, vs. M/s. Maheshwari Plaza Resorts (P) Ltd.,

The appeals stand allowed leaving the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Gains of Business or Profession’. 5. A Division Bench of this Court in Pandooi Palace v. CIT, Patna (supra) followed the aforesaid decisions of the Hon’ble Supreme Court. The assessee therein had constructed a Commercial complex in the name and style of Pandooi Palace and was drawing rental income from the same. It was on the facts that

The Commissioner of Income Tax (Central) vs. Sri R.Gowsreesham,

The appeals stand allowed leaving the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Gains of Business or Profession’. 5. A Division Bench of this Court in Pandooi Palace v. CIT, Patna (supra) followed the aforesaid decisions of the Hon’ble Supreme Court. The assessee therein had constructed a Commercial complex in the name and style of Pandooi Palace and was drawing rental income from the same. It was on the facts that

The Commissioner of Income Tax I vs. M/S Alloy Nitrides Limited,

The appeals stand allowed leaving the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Gains of Business or Profession’. 5. A Division Bench of this Court in Pandooi Palace v. CIT, Patna (supra) followed the aforesaid decisions of the Hon’ble Supreme Court. The assessee therein had constructed a Commercial complex in the name and style of Pandooi Palace and was drawing rental income from the same. It was on the facts that

The Commissioner of Income Tax -IV vs. M/s. Meghadoot Drillers

The appeals stand allowed leaving the

Gains of Business or Profession’. 5. A Division Bench of this Court in Pandooi Palace v. CIT, Patna (supra) followed the aforesaid decisions of the Hon’ble Supreme Court. The assessee therein had constructed a Commercial complex in the name and style of Pandooi Palace and was drawing rental income from the same. It was on the facts that