Commissioner of Income Tax -II vs. The Agrasen Coop. Urban Bank Ltd.,

In the result, for the above reasons, these appeals fail and

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

46 of the Societies Act read with Rule 37(2) of the Societies Rules. The appellate authority considered the interest accruing from 30.11.1996 as qualified for deduction and came to the conclusion that the restrictions for utilization of reserve fund in banking business would not be applicable if prior sanction of the RCS is obtained by the cooperative society

The Commissioner of Income Tax-II vs. The Andhra Bank Employees Co.Operative Bank Limited

In the result, for the above reasons, these appeals fail and

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

46 of the Societies Act read with Rule 37(2) of the Societies Rules. The appellate authority considered the interest accruing from 30.11.1996 as qualified for deduction and came to the conclusion that the restrictions for utilization of reserve fund in banking business would not be applicable if prior sanction of the RCS is obtained by the cooperative society

COMMISSIONER OF INCOME TAX-II, HYDERABAD vs. M/s. The A.P.Vardhaman(Mahila)Cooperative Urban

In the result, for the above reasons, these appeals fail and

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

46 of the Societies Act read with Rule 37(2) of the Societies Rules. The appellate authority considered the interest accruing from 30.11.1996 as qualified for deduction and came to the conclusion that the restrictions for utilization of reserve fund in banking business would not be applicable if prior sanction of the RCS is obtained by the cooperative society

Commissioner of Income Tax-II, vs. M/S The A.P.Mahesh Coop. Urban Bank Ltd,

In the result, for the above reasons, these appeals fail and

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

46 of the Societies Act read with Rule 37(2) of the Societies Rules. The appellate authority considered the interest accruing from 30.11.1996 as qualified for deduction and came to the conclusion that the restrictions for utilization of reserve fund in banking business would not be applicable if prior sanction of the RCS is obtained by the cooperative society

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

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

section 48, the 34 fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer. The capital asset here, which was the land, could be considered as transferred to the AOP in the year in which assessee entered

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 and Section 4g of the Act. In support of the aforesaid submissions, reliance has been placed on decision of thr: Supreme Court in Seshasayee Steels private Limited vs. Assistant Commissioner of Income Tax, Chennai

THE COMMISSIONER OF INCOMETAX vs. M/S V.SATAYANARAYANA

The appeal is allowed

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

gain (something) as the result of request or effort (Shorter Oxford Dictionary). In case of obtainment the initiative vests in the person who receives and in that context a demand or request from him will be a primary requisite for an offence under Section 5(1)(d) of the Act unlike an offence under Section 161 IPC, which, as noticed

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

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

2 companies and certain other individuals as Directors of 4 listed companies, 3 subsidiaries of one listed company and an unlisted company is bad in law since the Joint APLs merely represents the estate of PDB and thus, had no rights to seek appointment of Directors in companies in which PDB was not a "Member". Further, without prejudice

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

The Commissioner of Income TAx-IV, vs. M/s. Mahaveer Enterprises (India) Limited

The Appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gain in the ultimate analysis, the question is whether such grievance could be made long after the alleged violation of Section 10(5). If actual physical possession was taken over from the erstwhile landowner on 7.12.1991 as is alleged in the present case any grievance based on Section 10(5) ought to have been made within a reasonable time

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

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

46 of 85 Manager'. Annexure 1 discusses his roles and responsibilities, being, 'Responsible for aftermarket sales (spares) and services in respect of steam turbines and generators sold by various GE overseas entities in India'. ii. Anand Bansal-He is in Business Administration/Management and is an employees of GEIIPL working since Financial year 2002-03. His designation is 'Sales Manager'. Annexure

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

2)(xv) of the Indian Income Tax Act, 1922? It was acknowledged that “In choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure for the purpose of its business.” 32. It was further explained that “The sole question is whether the bank in incurring the expenditure

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

Appeals of the Revenue are dismissed

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

2)(xv) of the Indian Income Tax Act, 1922? It was acknowledged that “In choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure for the purpose of its business.” 32. It was further explained that “The sole question is whether the bank in incurring the expenditure

The Commissioner of Income Tax IV vs. Shri Raaj Kumar Jain

Capital) Appeal No. 1475 of 2009 corresponding to Reference No. 3 of 2009, by a co-ordinate bench of this Court on 11th September, 2009. The judgment of this Court in 'XYZ' has been affirmed by the Supreme Court in Criminal Appeal No. (s). 2227 of 2010, decided on 15.2.2011, with summary dismissal of appeal. 15. Separate and distinct trials

The Commisioner of Income TAx-1 vs. Divya Shakti Granites Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains tax, etc., the official figure should be lesser. In a sense, to that extent, it is a case of tax avoidance which is culpable both legally and morally. One cannot gainfully argue that it is a case of tax planning, intent being corrupt. However, that has been done at the instance of the 1st defendant, at whose hands

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

Bench: L.NARASIMHA REDDY,T.SUNIL CHOWDARY

46 yrs, occ Agriculture Rl/o. Plot No. 14-A, Road No. 2, Jubilee Hills, Hyderabad -'50b 033 M/s.. lmage Finance Pvt.Ltd.,, Rep.by its M.D., C.Venkateswara Rao,Sio. C.V.enkatramaiah, aged 58 yrs, occ Business Rl/o. plot No. 14-A, Road Nb.2, Jubilee Hills, Hyderabad - 500 033 Kum, -Cha,lasani Soumya, D/o C Venkateswara Rao, Aged about 23 years, Occ - Student

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

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

46 yrs, occ Agriculture Rl/o. Plot No. 14-A, Road No. 2, Jubilee Hills, Hyderabad -'50b 033 M/s.. lmage Finance Pvt.Ltd.,, Rep.by its M.D., C.Venkateswara Rao,Sio. C.V.enkatramaiah, aged 58 yrs, occ Business Rl/o. plot No. 14-A, Road Nb.2, Jubilee Hills, Hyderabad - 500 033 Kum, -Cha,lasani Soumya, D/o C Venkateswara Rao, Aged about 23 years, Occ - Student