The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains   tax   or   capital   loss,   the  essential requirements are that there should  be a transfer of a capital asset effected in  the   previous   year.   This   would   require  ascertainment   of   the   meaning   of   the   terms  transfer and capital assets. Transfer has been  defined, in relation to a capital asset, to  include   various   contingencies   stipulated   by  sub­clauses

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains   tax   or   capital   loss,   the  essential requirements are that there should  be a transfer of a capital asset effected in  the   previous   year.   This   would   require  ascertainment   of   the   meaning   of   the   terms  transfer and capital assets. Transfer has been  defined, in relation to a capital asset, to  include   various   contingencies   stipulated   by  sub­clauses

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains   tax   or   capital   loss,   the  essential requirements are that there should  be a transfer of a capital asset effected in  the   previous   year.   This   would   require  ascertainment   of   the   meaning   of   the   terms  transfer and capital assets. Transfer has been  defined, in relation to a capital asset, to  include   various   contingencies   stipulated   by  sub­clauses

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

short term capital gains in the assessment year 1999- 2000? 2.Whether, on the facts and in the circumstances

M/S.R.S.RANGADAS vs. THE ASST.COMMISSIONER OF INCOME TAX

Appeals are disposed of, with no order as to costs

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

term capital gain‟ the assessee had disclosed transfer consideration of Rs.5 Crores on sale of one lakh equity shares of NIIT to M/s Glad Investment Pvt. Ltd. („M/s GIPL‟ for short

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

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

Term Capital Gain during the Financial Year 2013-14 relevant to Assessment Year 2014- 15 and during the course of Post Search Investigation, the petitioner was even examined on oath under section 131(1A) of the Income Tax Act, 1961 (for short

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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Short Term Capital Gain at Rs.6,34,26,274/- and levied Capital Tax on the said amount

The Commissioner of Income Tax vs. M/s B.V.L. Exports

Accordingly set aside. Co. Appeal (SB) No. 5 of 2006 is allowed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

short term capital gain. 2.2 Whether the transactions regarding Hotel Queen Road Pvt. Ltd. between the Assessee company

Sri Damodarlal Badruka vs. The Income Tax Officer

The appeal is allowed but in the circumstances with

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

term capital gain but as a business income. 8. After dismissal of the appeals of the Assessee by the Commissioner of Income Tax (Appeals) and the ITAT by orders dated 13th January, 1998 and 20th March, 2003 respectively the Assessee filed the present appeal. 9. The Court has heard the learned counsel for the parties. 10. The principal

Commissioner of Income Tax, Rajahmundry vs. M/s. Kakinada Coop. Town Bank LTd., Kakinada

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management

term capital gains for shares held longer than 12 months, as well as the claim for concession at the rate of 10% under section 111A on short

The Commissioner of Income tAx-IV vs. M/s. Poineer Silk Mills Limited

Appeal is disposed of as

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

term capital gains on sale of warrants and not short term capital gains on sale of shares

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

In the result, the order of the income tax appellate tribunal

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO

Capital gains”, is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. (2) Where the result of the computation made for any assessment year under Sections 48 to 55 in respect of any short-term

The Principal Commissioner of Income Tax-2 vs. M/s Indus Business System Ltd.

Appeals are dismissed

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

gains tax relevant to A.Y. 2008-09 even though under the Memorandum of Understanding between the Transferors Shareholders the Assessees dated 16.06.2007 with purchasers and the substantial part of consideration of Rs.40,00,00,000/- [Rupees Forty Crores] was also paid by the purchasers to the Assessees/Transferors in the Financial Year relevant to A.Y.2008-09, even though the shares also

The Commissioner of Income Tax vs. M/S New Asian Bar AND Restaurant,

Appeals are dismissed

Bench: SANJAY KUMAR,GUDISEVA SHYAM PRASAD

gains tax relevant to A.Y. 2008-09 even though under the Memorandum of Understanding between the Transferors Shareholders the Assessees dated 16.06.2007 with purchasers and the substantial part of consideration of Rs.40,00,00,000/- [Rupees Forty Crores] was also paid by the purchasers to the Assessees/Transferors in the Financial Year relevant to A.Y.2008-09, even though the shares also

The Commissioner of Income Tax-IV, vs. M/s. Labham Finance Limited

short term capital gains and income of ` 2,23,950/- and ` 2,98,558/- as long term capital

Commissioner of Incoem Tax- 2, vs. M/s. Erythor Pharma Pvt. Ltd.,

In the result, the impugned order dated

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

short) has been filed by the assessee which was admitted by a Bench of this Court on the following substantial question of law: When once the revenue accepts the valuation for the purpose of capital gains in the returns filed over a period of years, subsequently can they refuse to accept the said valuation as the basis

Commissioner of Income Tax-III vs. V.Ramachandra Rao

In the result, we do not find any merit in the

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

term capital gains. According to the assessee the aforesaid sum was an expenditure incurred by the assessee wholly and exclusively in connection with transfer as contemplated under Section 48(i) of the Act. The Assessing Officer by an order dated 30.11.2011 disallowed an amount of Rs.50 Lakhs from out of the deduction of Rs.1 Crore claimed under Section

Sampathirao Apparao vs. Income Tax Officer,

The appeals stand dismissed

short term capital gain arising on account of sale of a residential property. The surrendered income included cash