Commissioner of Income Tax, Guntur. vs. Agricultural Market Committee, Kangiri.

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

gains;] Chapter III contains provisions which deal with incomes which do not form part of total income for the purpose of levy of income tax. As of now, there are fourteen (14) sections. These can be conveniently grouped into four categories. Section 10 enumerates incomes from various sources of various institutions and persons which shall not be included in computing

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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

capital gains. This classification under distinct heads of income profits and gains is made having regard to the sources from which income is derived. Income-tax is undoubtedly levied on the total taxable income of the taxpayer and the tax levied is a single tax on the aggregate taxable receipts from all the sources; it is not a collection

Principal Commissioner of Income Tax - 5 vs. M/s Vijay Textiles Limited

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

10 The First Party further agrees and covenants as follows: 10.1 At its own cost and expense, it shall furnish and provide all such information including documents, correspondences, statements and data as may reasonably be required by the Second Party in respect of the contract property and its development and 23 selling rights including but not limited to a General

M/s. Maruthi Movies vs. Income Tax Officer

Bench: This Court & Making The Same A Rule Of Court, Alongwith Decree Against Respondents Awarding Rs.5,35,920/- Paid By The Petitioner To The Arbitrator As Their Share Of Fees As Per Order Dated 21.12.2010. 2. Respondent No.1 Has Filed Its Objections To The Award Under Section 30 & 33 Of The Act In Form Of I.A. No.9067/2011. Respondent No.2 Has Also Filed Its Objections To The Award.

Capital of only Rs.2000/- and did not even have a bank account on the date of entering into the Agreement. They submit that even the amount of Rs.1.25 lac stated to have been deposited with the L&DO was infact paid by Mr.R.Ganguly and not by the petitioner. They submit that therefore, the petitioner was neither ready nor willing

SMT. SHANTHA VIDYASAGAR ANNAM vs. INCOME TAX OFFICER, WARD-4(2) HYDERABAD

In the result, the orders dated 09

Bench: J SREENIVAS RAO,ALOK ARADHE

capital asset in the assessment year lgg7 _gg and consequently no profit or gain accrued to the assessee in order to attra(:t Sections 45 and Section 4g of the Act. In support of the aforesaid submissions, reliance has been placed on decision of thr: Supreme Court in Seshasayee Steels private Limited vs. Assistant Commissioner of Income Tax, Chennai

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

10(2)(xv) of the Indian Income Tax Act, 1922? It was acknowledged that “In choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure for the purpose of its business.” 32. It was further explained that “The sole question is whether the bank in incurring

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

Appeals of the Revenue are dismissed

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

10(2)(xv) of the Indian Income Tax Act, 1922? It was acknowledged that “In choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure for the purpose of its business.” 32. It was further explained that “The sole question is whether the bank in incurring

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

gains from the business of banking by deposit of surplus funds of the bank is concerned, there cannot be any distinction between SLR reserves and non-SLR reserves although the maintenance of cash reserve and SLR are obligatory under below referred provisions of the RBI Act and the BR Act. Section 45 of the Societies Act lays down the method

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

gains from the business of banking by deposit of surplus funds of the bank is concerned, there cannot be any distinction between SLR reserves and non-SLR reserves although the maintenance of cash reserve and SLR are obligatory under below referred provisions of the RBI Act and the BR Act. Section 45 of the Societies Act lays down the method

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

gains from the business of banking by deposit of surplus funds of the bank is concerned, there cannot be any distinction between SLR reserves and non-SLR reserves although the maintenance of cash reserve and SLR are obligatory under below referred provisions of the RBI Act and the BR Act. Section 45 of the Societies Act lays down the method

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

gains from the business of banking by deposit of surplus funds of the bank is concerned, there cannot be any distinction between SLR reserves and non-SLR reserves although the maintenance of cash reserve and SLR are obligatory under below referred provisions of the RBI Act and the BR Act. Section 45 of the Societies Act lays down the method

The Commissioner of Income Tax IV vs. Shri Raaj Kumar Jain

Capital) Appeal No. 1475 of 2009 corresponding to Reference No. 3 of 2009, by a co-ordinate bench of this Court on 11th September, 2009. The judgment of this Court in 'XYZ' has been affirmed by the Supreme Court in Criminal Appeal No. (s). 2227 of 2010, decided on 15.2.2011, with summary dismissal of appeal. 15. Separate and distinct trials

THE COMMISSIONER OF INCOMETAX vs. M/S V.SATAYANARAYANA

The appeal is allowed

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

gain (something) as the result of request or effort (Shorter Oxford Dictionary). In case of obtainment the initiative vests in the person who receives and in that context a demand or request from him will be a primary requisite for an offence under Section 5(1)(d) of the Act unlike an offence under Section 161 IPC, which, as noticed

The Commisioner of Income TAx-1 vs. Divya Shakti Granites Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains tax, etc., the official figure should be lesser. In a sense, to that extent, it is a case of tax avoidance which is culpable both legally and morally. One cannot gainfully argue that it is a case of tax planning, intent being corrupt. However, that has been done at the instance of the 1st defendant, at whose hands

THEE COMMSSR.OF INCOME TAX.HYD. vs. CHALLA SHANKER REDDY.HYD.

Bench: L.NARASIMHA REDDY,T.SUNIL CHOWDARY

10 24.TheGPAsdaled,24.ll.lgg3arerevocable.Anyfuturebenefrtthat may accrue to an agent owing to performance of obligations including the Development Agreements cannot amount to interest so as to render an agency irrevocable under section 2O2 of The-ladian Contract Act, 1872' Dates relevant and common to the GPA and Partition APpeals 25. In 1991, the appellant No.2/C'V'Rao ;;and the respondent No. l/N.Subash

COMMR.OF I.T. RAJAHMUNDRY vs. M/S.NARAYANA CHOWDARYAND ORS KAKINADA

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

10 24.TheGPAsdaled,24.ll.lgg3arerevocable.Anyfuturebenefrtthat may accrue to an agent owing to performance of obligations including the Development Agreements cannot amount to interest so as to render an agency irrevocable under section 2O2 of The-ladian Contract Act, 1872' Dates relevant and common to the GPA and Partition APpeals 25. In 1991, the appellant No.2/C'V'Rao ;;and the respondent No. l/N.Subash

COMMISSIONER OF INCOME TAX - (TDS), vs. M/s. Suman Chit Funds (P) Ltd.,

10 24.TheGPAsdaled,24.ll.lgg3arerevocable.Anyfuturebenefrtthat may accrue to an agent owing to performance of obligations including the Development Agreements cannot amount to interest so as to render an agency irrevocable under section 2O2 of The-ladian Contract Act, 1872' Dates relevant and common to the GPA and Partition APpeals 25. In 1991, the appellant No.2/C'V'Rao ;;and the respondent No. l/N.Subash

The Commissoner of Income Tax I , vs. M/s. Alpha Thought Technologies P Ltd.,

In the result, the orders passed by the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital asset sold during the year. Being aggrieved, the assessee filed an appeal before the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax (Appeals) by an order dated 05.10.2009 inter alia held that there is a close nexus between the interest earned on the fixed deposits and the interest paid to the lenders and the creditors