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

1, the distinction between the expressions “for the purpose of earning profits‟ and „for purpose of the business‟ was brought out as under: “11. Wholly and Exclusively for the Purposes of the Business. (a) Purpose of Business- Before the corresponding section in the 1922 Act was amended in 1939, allowance was given in respect of any non-capital expenditure „incurred

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

Appeals are allowed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

36 of an agreement made before the 1st day of April, 1976 , and the agreement is approved by the Central Government: Explanation 2.- For the purposes of this clause, "royalty" means consideration (including any lump sum consideration but excluding any consideration which would be the income of the recipient chargeable under the head" Capital gains") for- (i) the transfer

Kuchipudi Krishna Kishore vs. The DCIT

Accordingly the appeals deserves to be allowed by setting aside the impugned

Bench: P.SAM KOSHY,N.TUKARAMJI

36 of the Act, which also deals with the aspect of deductions. Sub-section ('1 ) (iii) deals with the amount of interest paid in respect of capital borrowed for the purpose of the business or profession. The proviso explains that the amount of interest paid in respect of capital borrowed for acquisition of an asset even

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

Bench: The Learned

1) of the act, the said section would not apply if the assessee owned more than one residential house. Clause (i) of the proviso to Section 54F of the Act is extracted below: “Section 54F. Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house. *** *** *** Provided that nothing contained in this

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

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

1. 1. The State of Jharkhand, through its Secretary, Department of Industries, Mines and Geology, having its office at Yojna Bhawan, P.O. and P.S. Doranda, District Ranchi (Jharkhand), PIN 834 002. 2. The Secretary, Road Construction Department, Government of Jharkhand, having its office at Jharkhand Mantralaya (Project Building), PO. Dhurwa, P.S. Jagannathpur, District Ranchi-834002 (Jharkhand), 3. The Director, Mines

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