PRINCIPAL COMMISSIONER OF INCOME TAX-I vs. A.V. V. VARAPRASAD

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

capital gains under Sections 54EC and 54F of the Income Tax Act, 1961,(for short ‘the Act’). The case was selected for scrutiny under CASS. A notice under Section 143 (2), was accordingly issued. Upon considering the details furnished by the authorised representative of the assessee, the Assessing Officer (AO) has completed the assessment under Section

Alugubelli Nagabhushana Rao vs. The Income Tax Officer,

The Appeals stand dismissed

Bench: C.V.NAGARJUNA REDDY,M.S.K.JAISWAL

gains of business attributable to any of other activities referred to sub-section (2) of Section 80P shall be deducted in computing the total income of the assessee. In other words, the said income is not taxable. It is a benefit given to the Co- operative society. Section 80P(4) was introduced by Finance Act, 2006 with effect from

The Commissioner of Income Tax - III, vs. M/s. Suven Pharmaceuticals Limited,

Appeals are dismissed

2) Where, before the date of [determination  of   total   income   under   sub­section   (1)   of  section   143   or]   completion   of   a   regular  assessment, tax is paid by the assessee under  section 140A or otherwise,­* (i) interest   shall   be   calculated   in  accordance with the foregoing provisions  of this section up to the date on which  the tax is so paid, and reduced

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

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

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

The Commissioner of Income tax vs. M/s. ragamayee bAr AND Restaurant,

The appeals stand dismissed

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

capital gains; or (b) income of the nature referred to in sub-clause (ix) of clause (24) of section 2, (c) income under the had “Profits and gains of business or profession” in case where the income accrues or arises under the said head for the first time, and the assessee has paid the whole of the amount

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

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

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

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

M/s. Kamma Sangaham, vs. The Director of Income -Tax (Exemptions),

2 business in accordance with Section 36(1)(iii) and Section 37(1) of the Income Tax Act, 1961?” 3. Despite full disclosure of facts regarding loans given by the assessee to its subsidiary companies and source of funds, supported by documentary evidences, the assessing officer made addition in the income of the assessee on the presumption that the loan

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

Section 27 begins with a proviso and states that when any fact is deposed to as discovered, in consequence of information received from a person accused of any offence, in the custody of a police officer, so much of such information as relates distinctly to the fact thereby discovered may be proved, 49 whether it amounts to a confession

Principal Commissioner of Income Tax vs. Sri Nama Nageshwar Rao

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

capital gain on the ground that the evidences found during search at the premises of entry provider cannot be the basis for making additions in assessment completed u/S. 153A in the case of beneficiary ignoring the vital fact that there was a common search u/s 132 conducted on the same day in both the cases of the entry provider