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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 45 Capital gains. “45.  (1)  Any profits   or gains  arising  from  the  transfer   of   a   capital   asset   effected   in   the  previous

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 45 Capital gains. “45.  (1)  Any profits   or gains  arising  from  the  transfer   of   a   capital   asset   effected   in   the  previous

The Commissioner of Income Tax-III vs. Sri Anand Prakash Sanghi

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains can be computed under Section 45. Electricity and phone connections were taken by M/s.MAPL with the intention to start

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains. For answering this a look at section 45(3) and Section 45(4) of the Act are necessary

Commissioner of Income Tax-V, vs. Sri Vinod Krishna Conjeevaram,

The appeal is dismissed

Section 45 deals with a distribution of capital assets on the dissolution of a firm or other association of persons or body of individuals or otherwise. If in the course of such distribution of capital asset there is a transfer of a capital asset by the firm in favour of a person and it results in profits or gains

COMMISSIONER OF INCOME TAX-III, HYD vs. M/S. SUJANA METALS LTD, HYD

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

capital gain by virtue of section 55 (2) (a) read with clause (i) of the proviso to Section 28 (va). The AR has also relied on the provisions of section 45

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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

capital gains. This classification under distinct heads of income profits and gains is made having regard to the sources from which income is derived. Income-tax is undoubtedly levied on the total taxable income of the taxpayer and the tax levied is a single tax on the aggregate taxable receipts from all the sources; it is not a collection

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

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

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

capital gains are ta-xable in the hands of se[ers er.en for the shares which are in lock-in-period. Here assessee is holding 86,100 shares ior utich he received 80,100 X 43:Rs.i/.02.100. cepital eains on v,rhich are taxable". 22. \When this finding of the assessins officc'r ."ras cl.ralltnged beiore the first appellate authority

Smt. Rama S. Gummadi vs. The Commissioner of Income Tax (Central)

Bench: C.V.NAGARJUNA REDDY,KONGARA VIJAYA LAKSHMI

Section 45 deals with capital gains. Section 47 deals with transactions not recorded as transfer. It enumerated different types of transfers

Sri Damodarlal Badruka vs. The Income Tax Officer

The appeal is allowed but in the circumstances with

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

capital gains arising from the transfer of the 40% rights to the builder in terms of Section 54 F read with Section 45

SMT. SHANTHA VIDYASAGAR ANNAM vs. INCOME TAX OFFICER, WARD-4(2) HYDERABAD

In the result, the orders dated 09

Bench: J SREENIVAS RAO,ALOK ARADHE

capital asset in the assessment year lgg7 _gg and consequently no profit or gain accrued to the assessee in order to attra(:t Sections 45

The Commissioner of Income Tax vs. M/s.Sri Jayalakshmi Power Corporation Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains when the assessee transacts in securities. The relevant portion of the Circular reads as follows : “When the securities are transacted through stock exchanges, it is established procedure that the brokers first enter into contracts for purchase/sale of securities and thereafter, follow it up with delivery of shares accompanied by transfer deeds duly signed by the registered holders

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

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

Capital gains”, or “income from other sources” or from a trade or business carried on by it which accrues or arises from the supply of a commodity or service (not being water or electricity) within its own jurisdictional area or from the supply of water or electricity within or outside its own jurisdictional area. Explanation.- For the purposes of this

Commissioner of Income Tax, vs. Agricultural Market Committee,

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

Capital gains”, or “income from other sources” or from a trade or business carried on by it which accrues or arises from the supply of a commodity or service (not being water or electricity) within its own jurisdictional area or from the supply of water or electricity within or outside its own jurisdictional area. Explanation.- For the purposes of this

The Director of Income Tax (Exemptions) vs. G Pulla Reddy Chritable Trust

In the result, the orders passed by the Commissioner of

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

capital gains to disallow interest on loan of purchase of property as deduction from sale consideration, to direct the Assessing Officer to adopt guidance value of sub registrar in respect of one property as deemed sale value and to bring to tax the difference and to allow deduction under Section 80C of the Act for an amount of Rs.1

The Commissioner of Income Tax III, vs. M/s. Swagath Seeds Private Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

45(3) of the Act? iv) Whether on the facts and in the circumstances of the case, the Tribunal is right in law in setting aside the disallowance made in respect of long term capital asset even when the land in question was not an agricultural land and same is rightly treated as capital asset within the meaning of Sec.2

The Commissoner of Income Tax I , vs. M/s. Alpha Thought Technologies P Ltd.,

In the result, the orders passed by the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains. The difference between the sale consideration and indexed cost of acquisition represents the actual cost of the assessee, which is taxable as per Section 45