The Commissioner of Income Tax vs. M/s Supriya Wines

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

Capital Gain which is found to be incorrect. He submits that the penalty was imposed upon the petitioner in Cr.M.P. No. 591 of 2017 by order dated 06.06.2018 which was challenged by the petitioner before the First Appellate Authority and the First Appellate Authority affirmed the penalty thereafter the Second Appellant Authority by order dated 15.07.2020 set aside the penalty

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

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

gains of business or profession" (before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid up share capital and of the general reserves of the specified entity, no allowance under this clause shall

PRL COMMR OF INCOME TAX-2, HYDERABAD vs. K RAVINDER REDDY, HYDERABAD

In the result, this Cr.M.P

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

Capital Gain during the Financial Year 2013-14 relevant to Assessment Year 2014-15; and the allegation against the petitioner is that the petitioner attempted to evade tax. A complaint was filed against the petitioner by the Union of India through the concerned officer being the Director of Income Tax (Investigation) Unit-II, Ranchi in the court of learned Special

INCOME TAX BANGALORE vs. SHALINI BHUPAL

Appeal is dismissed

capital of not less than five hundred thousand rupees; (iii) the hotel is for the time being approved for the purposes of this sub-section by the Central Government; (iv) the business of the hotel starts functioning after the 31st day of March, 1981, but before the 1st day of April [1991]. [(4A) This section applies to the business

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

Section 260-A of the Income Tax Act, 1961 („Act‟) of which 1 is by the Assessee and 10 are by the Revenue. Apart from the facts being similar, the questions of law too are common to many of the appeals. They are accordingly disposed of by this common judgment. Background facts 2. The Assessee is engaged to the business

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

Appeals of the Revenue are dismissed

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

Section 260-A of the Income Tax Act, 1961 („Act‟) of which 1 is by the Assessee and 10 are by the Revenue. Apart from the facts being similar, the questions of law too are common to many of the appeals. They are accordingly disposed of by this common judgment. Background facts 2. The Assessee is engaged to the business

Commissioner of Income Tax, vs. Sri Anil Harnathka

Bench: The Tribunal & The Tribunal On The Ground Of The Assessee'S Mother Having Filed A Return Conceding Capital Gains, Set Aside The Addition Of Rs.60 Lakhs As Against The Assessee. By Annexure-A, The Assessment Of The Assessee Was Completed Taking As Undisclosed Income, Various Credits In The Bank Account Between 08.08.2005 & 23.11.2005. Out Of The Total Amount Of Rs.98,18,244/-, Rs.60,00,000/- According To The Assessee Represented The Unaccounted Receipt On The Sale Of The Property By His Mother. The Property Is Said To Have Actually Fetched Rs.74,00,000/- & The Mother, The Owner Of

capital gains tax at the hands of the mother. The fact remains that the amounts were credited to the account of the assessee and it remained as undisclosed income insofar as the assessee having returned only Rs.1,17,830/- in the subject assessment year. I.T.A.No.24 of 2014 - 4 - 4. The learned Counsel for the assessee would in fact point

Commissioner of Income Tax II vs. P. Govinda Rao

The appeals are dismissed

Bench: Us. For Convenience We Are Noticing The Facts Of Appeal Bearing D.B. Income Tax Appeal No.67/2007, Rajasthan Art Emporium V. Dcit, Circle, Jodhpur.

Section 271(1)(c) of the Act. An appeal giving challenge to the order passed by the Assessing Officer also came to be disposed of under an order dated 9.4.1999 by holding as under:- “14. I have considered the submissions very carefully in this regard. I have also seen the reasoning given by the AO for disallowing intt. amounting

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

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

capital of the company. This fact was brought to the notice of the assessee vide order sheet entry dated 29.12.2009. No satisfactory reply has been filed. It is therefore, disallowed from the revenue expenses claimed by the assessee. Penalty proceedings u/s271(1)(c) r.w 274 of the Income-tax Act for concealment and furnishing of inaccurate particulars are initiated separately

PR COMMR OF INCOME TAX-2, HYDERABAD vs. K RAVINDER REDDY, HYDERABAD

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

section. Nonetheless, as an overall matter, GE is correct that in some instances, ITAT‟s characterization of certain conversations appears to overstate the importance of the activities in India (for e.g. e- mail chain on Reliance-GT Exhaust Height; e-mail chain on confirmation of RIL PO No. DG8/3389741). Nevertheless, in many other instances, ITAT‟s decision is sound

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

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

Section 178 of the Companies Act, 2013. Therefore, the Chairman of the company, HVL cannot arrogate unto himself the power to cause such appointment when such power ultimately rests with the Board of Directors. The observation of the two Joint APLs that the evident performance of BCrL, the flagship company of MP Birla Group is deteriorating ever since, HVL became