The Commissioner of Income Tax-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

capital gain shall be computed after making certain deductions from the full value of the consideration for which the sale

The Commissioner of Income Tax(Central) vs. M/s.Madhu Enterprises

Bench: The Learned

deduction of ₹90 crores under Section 54F of the Act asserting that the consideration received from the sale of shares of FIITJEE Ltd. — an unlisted company, the gains from which would otherwise be chargeable to tax as capital

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

gains, they should be treated as capital expenditure in the hands of the Assessee, was not based on sound reasoning. (iv) Expenditure on purchase of stock and trade is charged to the P&L and trading account at the time of purchase, which cannot be deferred. The observation of the AO that the Appellant was free to claim the deduction

Kuchipudi Krishna Kishore vs. The DCIT

Accordingly the appeals deserves to be allowed by setting aside the impugned

Bench: P.SAM KOSHY,N.TUKARAMJI

deduction pertinenfly this provision is addressing the payment of interest on the capital for the purpose of business and not earning expenditure. The accepted case of the assessee that the investment was to constitute and carry out the business with the object to gain

COMMISSIONER OF INCOME TAX-II vs. GLAND PHARMA LTD.,

In the result, the appeal (ITAT/96/2017) fails and stands

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

capital gains and not business profit and its purported findings in this regard are arbitrary, unreasonable and perverse?” We have heard Mr. Smarajit Roychowdhury, learned Counsel for the appellant/revenue and Mr. Asim Choudhury, learned counsel for the respondent/assessee. 3 On going through the order passed by the tribunal, we find that the tribunal was considering six issues

M/S.P.SATYANARAYANA AND SONS vs. INCOME TAX OFFICER, WARD 1[9], HYDERABAD

Appeals are allowed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Capital gains") for- (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or trade

M/S NATIONAL ACADEMY OF CONSTRUCTION vs. ASST. DIRECTOR OF INCOME TAX

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

deducted from all the contractor's bill at the time of raising of bills anC its remittance. In addition, certain other State Government bodies, viz., Urban Development Authoritv, tht: Municipal Corporation of Hyderabad, Cyberabad Development Authority, the Department of Tourism, u,ere also invited to be participants in this project. It is note\,',orthy to mention here that th,: hnancial

M/s Durga Granites, vs. The Assistant Commissioner of Income Tax, Circle - 1,

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

gain as General Manager (HR&A) "Bidyut Unnayan Bhaban", Plot No. 3/C, LA Block, Sector-III, P.O. - Salt Lake City, P.S.- Bidhannagar, District- Kolkata, West Bengal, PIN – 700106 ..........Petitioner. -Versus- 1. The State of Jharkhand, through its Secretary, Department of Mines and Geology, having its office at Yojna Bhawan, P.O. and P.S. Doranda, District Ranchi (Jharkhand