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

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

c). In all the three sub-sections the words used are “income derived from property held under trust wholly for charitable purposes”. Under Section 11(4) the expression “property held under trust” includes a business undertaking so held. In other words, income from business undertaking held for charitable purposes can fall under Section 11 subject to such income fulfilling

Commissioner of Income Tax, vs. Agricultural Market Committee,

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

c). In all the three sub-sections the words used are “income derived from property held under trust wholly for charitable purposes”. Under Section 11(4) the expression “property held under trust” includes a business undertaking so held. In other words, income from business undertaking held for charitable purposes can fall under Section 11 subject to such income fulfilling

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

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

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

capital receipt and therefore both, section 11 (5) and Section 13 (l) (d) of the Act, would not be applicable. 15- Learned counsel appearing for the department on the other harrd justifying the order of the ITAT, contended that since the order of the assessing ofhcer has already been subjected to scrutiny and challenge, there is hardly any scope left

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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

c) or a Growth Centre under the Growth Centre Scheme of the Government of India. The various incentives on tax exemptions were extended under the Scheme to the developers. 16. In exercise of powers conferred by section 295 read with clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961, the Central Board

The Commissioner of Income Tax - IV vs. M/s. Mekins Agro Product (P) Ltd.

gains, or other sources, the word 'income' should be understood in its commercial sense, i.e., book income, after adding back any appropriations or applications thereof towards the purpose of the trust or otherwise, and also after adding back any debits made for capital expenditure incurred for the purposes of the trust or otherwise.lt should be noted, in this connection, that

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

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1,57,000 ­  Rs.   75,000/­.   Same   loss   of   Rs.   82,000/­is  therefore directed to be allowed in the sale of  shares of Mysore Cement. As regards UTI master and  L & T shares, no rate adjustment is called for and  loss   as   claimed   of   Rs.   15,31,250/­   is   to   be  allowed   in   full.   Thus,   total   short   term   capital

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1,57,000 ­  Rs.   75,000/­.   Same   loss   of   Rs.   82,000/­is  therefore directed to be allowed in the sale of  shares of Mysore Cement. As regards UTI master and  L & T shares, no rate adjustment is called for and  loss   as   claimed   of   Rs.   15,31,250/­   is   to   be  allowed   in   full.   Thus,   total   short   term   capital

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1,57,000 ­  Rs.   75,000/­.   Same   loss   of   Rs.   82,000/­is  therefore directed to be allowed in the sale of  shares of Mysore Cement. As regards UTI master and  L & T shares, no rate adjustment is called for and  loss   as   claimed   of   Rs.   15,31,250/­   is   to   be  allowed   in   full.   Thus,   total   short   term   capital

K.V.D.PRASAD RAO vs. THE JT.COMMISSIONER OF INCOME TAX

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

1 th.rr in tlre case of ransfer of shrrres for pLuposes of Section 45 of the Act, as betuecn thc tliulsf L'rols ind the uansferee, the transaction compietc s-hen the share cerdficates are handed or'.'r. It *;rs .rlso commented that the mere f,rct thet rhc conrpenl has not registered the transier ir-r its b,rols

Commissioner of Income Tax (TDS), vs. M/s Country Club Inda Limited

27 of 57 of such person; or (b) accrues or arises or is deemed to accrue or arise to him in India during such year. Section 9 of the Act specifies the income that are deemed to accrue or arise in India. Section 9 (1) of the Act specifies incomes which are deemed to accrue and arise in India

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains, as an essential object for forming an AOP. However the CBDT Circular explaining the above insertion states that such insertion was only to take care of the claim of certain bodies that they did not fall within the definition of a ‘person’ for the sole reason, that they were not supposed to have any income or profits. Section

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 under

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

Bench: L.NARASIMHA REDDY,T.SUNIL CHOWDARY

Section 96 of C.P.C and Mernorerndum of Cross Objections filec cn behalf of Cross Objectors/Plaintiffs '1 to 4 Linde" Order 41 , Rule 22 of the Civil F'rccedure Code, 1908, against the Judgment an'l Decree dated 28.03.2013marleir l.S.No.ll5of2006onthefileoftheCourtoftheXlll Addl Chief Judge (FTC), City' C i'rrl Court at Hyderabad. Between: 1 N.Subhash, S/o. N.M.Choudary, Aged about

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

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

Section 96 of C.P.C and Mernorerndum of Cross Objections filec cn behalf of Cross Objectors/Plaintiffs '1 to 4 Linde" Order 41 , Rule 22 of the Civil F'rccedure Code, 1908, against the Judgment an'l Decree dated 28.03.2013marleir l.S.No.ll5of2006onthefileoftheCourtoftheXlll Addl Chief Judge (FTC), City' C i'rrl Court at Hyderabad. Between: 1 N.Subhash, S/o. N.M.Choudary, Aged about

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

Section 96 of C.P.C and Mernorerndum of Cross Objections filec cn behalf of Cross Objectors/Plaintiffs '1 to 4 Linde" Order 41 , Rule 22 of the Civil F'rccedure Code, 1908, against the Judgment an'l Decree dated 28.03.2013marleir l.S.No.ll5of2006onthefileoftheCourtoftheXlll Addl Chief Judge (FTC), City' C i'rrl Court at Hyderabad. Between: 1 N.Subhash, S/o. N.M.Choudary, Aged about

Sampathirao Apparao vs. Income Tax Officer,

The appeals stand dismissed

capital gain arising out of sale proceeds of house, thus, Assessing Officer requested Commissioner of Income Tax for adjustment of seized amount towards the tax liability of appellants. The Commissioner of Income Tax, Amritsar vide letter dated 26.06.2009 permitted Assessing Officer to adjust seized cash against tax liability of appellants. The Assessing Officer, accordingly, adjusted seized cash against