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

The appeal is allowed

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

Capital Territory of Delhi)16 the Hon’ble Supreme Court observed as follows : 16. On the said aspect, we would now refer to Section 20 of the Act which reads as under: ―20. Presumption where public servant accepts gratification other than legal remuneration.—(1) Where, in any trial of an offence punishable under Section 7 or Section 11 or clause

M/S.R.S.RANGADAS vs. THE ASST.COMMISSIONER OF INCOME TAX

Appeals are disposed of, with no order as to costs

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

capital gains under Section 48 of the Income Tax Act?" 2. ITA No.389/2007 filed by the Director of Income Tax, i.e. the Revenue, relates to AY 1999-2000 and impugns order dated 23rd June, 2006 passed by the tribunal in Appeal No.1167/Del/2005 deleting/cancelling penalty for concealment of income under Section 271(1

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

1)(n) of the BR Act, the doing of all such other things as are incidental or conducive to the promotion or advancement of the business of the company. Thus reading of Sections 5(b), (c) and Section 6 of the BR Act along with Section 80P(2)(a) of the Act, it becomes clear that the income received

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

1)(n) of the BR Act, the doing of all such other things as are incidental or conducive to the promotion or advancement of the business of the company. Thus reading of Sections 5(b), (c) and Section 6 of the BR Act along with Section 80P(2)(a) of the Act, it becomes clear that the income received

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

1)(n) of the BR Act, the doing of all such other things as are incidental or conducive to the promotion or advancement of the business of the company. Thus reading of Sections 5(b), (c) and Section 6 of the BR Act along with Section 80P(2)(a) of the Act, it becomes clear that the income received

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

1)(n) of the BR Act, the doing of all such other things as are incidental or conducive to the promotion or advancement of the business of the company. Thus reading of Sections 5(b), (c) and Section 6 of the BR Act along with Section 80P(2)(a) of the Act, it becomes clear that the income received

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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

1) salaries, (2) interest on securities, (3) income from property, (4) profits and gains of business, profession or vocation, (5) income from other sources and - - 32 (6) 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

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

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

capital gain by virtue of section 55 (2) (a) read with clause (i) of the proviso to Section 28 (va). The AR has also relied on the provisions of section 45 (1

The Commissioner of Income Tax, vs. M/s. Laila Impex,

Accordingly answered against the Revenue. The appeals fail and are dismissed, without

1) or sub-section (2) of section 139 (whether fixed originally or on extension) for furnishing the return of income for the assessment year commencing on the 1st day of April, 1977, or the assessment year in respect of which such income first becomes chargeable to tax under this Act, whichever assessment year is later, the company exercises an option

The Commissioner of Income Tax [Central] vs. Smt P Sujana

The appeal stands disposed of as indicated above

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

2) of section 73A or sub-section (1) or sub-section (3) of section 74 or sub- section (3) of section 74A.” 9. Section 139(3) of the Act reads thus: “(3) If any person who has sustained a loss in any previous year under the head “Profits and gains of business or profession” or under the head “Capital

Commissioner of Income Tax-II vs. M/s.Jayalakshmi Chits

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1. For the purposes of sub­clauses (v) and (vi),  “immovable property” shall have the same meaning  as in clause (d) of section 269UA. 2.   For   the   removal   of   doubts,   it   is   hereby  clarified that “transfer” includes and shall be  deemed   to   have   always   included   disposing   of   or  Page 26 of 41 C/TAXAP/194/2008 JUDGMENT parting with an asset or any interest

The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1. For the purposes of sub­clauses (v) and (vi),  “immovable property” shall have the same meaning  as in clause (d) of section 269UA. 2.   For   the   removal   of   doubts,   it   is   hereby  clarified that “transfer” includes and shall be  deemed   to   have   always   included   disposing   of   or  Page 26 of 41 C/TAXAP/194/2008 JUDGMENT parting with an asset or any interest

The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1. For the purposes of sub­clauses (v) and (vi),  “immovable property” shall have the same meaning  as in clause (d) of section 269UA. 2.   For   the   removal   of   doubts,   it   is   hereby  clarified that “transfer” includes and shall be  deemed   to   have   always   included   disposing   of   or  Page 26 of 41 C/TAXAP/194/2008 JUDGMENT parting with an asset or any interest

The Commissioner of Income Tax-III vs. Sri Anand Prakash Sanghi

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1. Whether, on the facts and in the circumstances of the case, the assessee is exigible to income tax for short term capital gains in the assessment year 1999- 2000? 2.Whether, on the facts and in the circumstances of the case: (i) In the light of the law relating to part performance (Sec.2(47)(v) of the Income

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

1) of section 36, IV. Finance Act 1999 introduced the follouing fufther Explanation: " Explanation 2.- For the remoual of doubts, it is herebg declared that ang income bg uag of diuidends, interest or long-term capital gains

M/s. Canara Securities Ltd vs. Dy. Commissioner of Income Tax

Bench: M.S.RAMACHANDRA RAO,T.AMARNATH GOUD

1 and 2 companies and certain other individuals as Directors of 4 listed companies, 3 subsidiaries of one listed company and an unlisted company is bad in law since the Joint APLs merely represents the estate of PDB and thus, had no rights to seek appointment of Directors in companies in which PDB was not a "Member". Further, without prejudice

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

Appeal is allowed

Bench: P.SAM KOSHY,S.CHALAPATHI RAO

1. COMMISSIONER OF INCOME-TAX(III) BANGALORE. 2. INCOME TAX OFFICER WARD 12(2),BANGALORE. …RESPONDENTS (BY SRI E R INDRAKUMAR, SENIOR COUNSEL & E I SANMATHI.ADV.) 2 THIS APPEAL IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961 PRAYING TO SET ASIDE THE ORDER PASSED BY THE ITAT BANGALORE IN ITA NO.1012/BNG/2007, DATED 07/10/2008 CONFIRM THE ORDERS

Principal Commissioner of Income Tax vs. M/s Nara Constructions,

Bench: CHALLA KODANDA RAM,C.V.NAGARJUNA REDDY

2 of 16 3. The respondent-assessee bank has been accused by the Revenue of concealment or furnishing inaccurate particulars, by making a claim for deduction under Section 36(1)(viii) of the Act. The impugned order deletes penalty imposed on the respondent-assessee bank for concealment of income under Section 271(1)(c) of the Act. 4. The contention