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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Capital gains. F.—Income from other sources. 10. Section 22 of the Act deals with income from House property which reads as under: Income from house property. 22. The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy

The Commissioner of Income Tax(Central) vs. M/s.Madhu Enterprises

Bench: The Learned

Section 54F of the Act on the ground that she holds more than one residential unit. 27. We also find that there has been no failure on the part of the Assessee to truly and fairly disclose all the material facts in her return. The Assessee had fairly disclosed about the sale of the original asset, in respect of which

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

gains, they should be treated as capital expenditure in the hands of the Assessee, was not based on sound reasoning. (iv) Expenditure on purchase of stock and trade is charged to the P&L and trading account at the time of purchase, which cannot be deferred. The observation of the AO that the Appellant was free to claim the deduction

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

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

M/S.P.SATYANARAYANA AND SONS vs. INCOME TAX OFFICER, WARD 1[9], HYDERABAD

Appeals are allowed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

28 Further, the said clause makes it clear the assessee will not have any right to sell or license or lease the facility which is made available by the Canadian Company to the assessee. That clause does not stop there. It further says “or in any manner transfer the right assigned therein to other parties”. It means under the agreement

The Commissioner of Income-tax(Exemptions) vs. WarangalWarangal Diocese Society

The appeals are dismissed, along with pending

Bench: P.SAM KOSHY,N.TUKARAMJI

Capital Territory of Delhi were banned due to which there was a shortage of the mining materials and the rates of various raw materials were hiked by the mine lease holders. Another letter was sent by the Respondent to Appellant in the same regard showing the current and previous market rates and requesting the Appellant to increase the rates accordingly

M/s Durga Granites, vs. The Assistant Commissioner of Income Tax, Circle - 1,

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

28, Plot No. 1677, 1679, 1712 & 1740/P, P.O. & P.S. Dumka, District Dumka, PIN-816118, (Jharkhand), through its partner, namely, Hulash Chand Bajaj, aged about 30 years, son of Om Prakash Bajaj, resident of D. B. Road, Kamarpatty, Rampurhat-I, P.O. & P.S. Rampurhat, District Birbhum, PIN- 731224 (West Bengal). ..........Petitioner. -Versus- 1. The State of Jharkhand, through its Secretary, Department