M/s.V.R.Farms Pvt Ltd vs. Deputy Commissioner of Income Tax

The appeals are dismissed

Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

The Commissioner of Income Tax-II, vs. M/s Padmapriya Real Estates AND Financiers

In the result, the appeal is allowed and the impugned judgment passed by

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation of 20% after two years. In cross- examination he admitted that he has not attached any Government circular with respect to the valuation of the construction. He further stated that at the time of preparing the first report, he was not informed about the check period and when the check period was informed by the Lokayukta Police, he prepared

AP. STATE SEEDS DEVELOPMENT CORPORATION, HYD. vs. THE COMMISSIONER OF INCOME TAX-I, HYD.

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

2. Whether on the facts arrd in the circumstances of the case, the Tribunal is correct in law in dismissing the appellant's appeal despite Tribunal's considered opinion that the assessee's case is squarely covered by the decision of the Supreme Court in Apollo Tyres Ltd. v. Commissioner of Income Tax ([2002] 255 lTR 273 (SC))? 5. Short

Commissioenr of Income Tax vs. Dr. T. Ravi Kumar

2,09,72,07/-. In view of above, the revised total depreciation claim of Rs. 3,16,84,86,154/- was intimated to the AO with a request that the same be accepted at the time of finalization of the assessment. In the reply dated 17.10.1997 the appellant company took care to enclose revised chart of depreciation as a separate

Commissioner of Income Tax (TDS), vs. M/s Country Club Inda Limited

depreciation or any other indirect costs in its accounts. Further, the Assessee had also not showed any source of funds. The AO noted that the equipment stated to have been supplied by the Assessee to Reliance was purchased from other group companies, namely, Nortel Canada and Nortel Ireland and were supplied to Reliance at almost half the price

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

47) the word transfer includes relinquishment of rights?” 2. We have heard Mr.Jeevan J. Neeralgi appearing on behalf of Mr.E.I.Sanmathi, learned counsel for the appellants-Revenue. 3 3. It appears that the Tribunal while dealing with the said aspects has observed thus: “16. We have perused the orders and heard the rival contentions. The question to be answered

Commissioner of Income Tax vs. Sri P.Sarveswara Rao

Appeals are partly allowed, in view of the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation and not the grant of deduction in respect of Sales-tax collections which had not been paid in accordance with the provisions of sec.43-B of the IT Act. (e) No objection on the issue whether the assessee‟s industrial undertaking was set up in a backward area, notified by the Central Govt. for the purpose of benefit under provisions

THE PRL COMMISSIONER OF INCOME TAX [CENTRAL] HYDERABAD vs. M/S SREE NAGENDRA CONSTRUCTIONS, KHAMMAM

In the result, appeal stands dismissed

Bench: This

V. HOSMANI I.T.A.No.490/2016 BETWEEN : 1. PR. COMMISSIONER OF INCOME TAX-VI, CENTRAL REVENUE BUILDINGS, QUEENS ROAD, BANGALORE-560 001. 2. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 6(1)(2) BENGALURU. ...APPELLANTS (BY SRI JEEVAN J. NEERALGI, ADV. A/W SRI T.N.C.SRIDHAR, ADV.) AND : M/s SUBEX LTD., RMZ ECOWORLD, DEVARABISANAHALLI, OUTER RING ROAD, BANGALORE-560 037. PAN: AABCS 9255R. …RESPONDENT

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

depreciation, reserves, etc., a part of it should in all fairness go to the employees.” 30. In the said case the Supreme Court was considering whether payment for ITA 210/2003 & connected matters Page 17 of 36 the extra services rendered by an employee could be allowed as business expenditure. It was held that for the purposes of allowing commercial

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

Appeals of the Revenue are dismissed

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

depreciation, reserves, etc., a part of it should in all fairness go to the employees.” 30. In the said case the Supreme Court was considering whether payment for ITA 210/2003 & connected matters Page 17 of 36 the extra services rendered by an employee could be allowed as business expenditure. It was held that for the purposes of allowing commercial

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

47,172/- was to be added as business income of the assesse (profits from trade less the PMS charges, treated as expenses wholly and exclusively for the purpose of business), second, that penalty proceedings under Section 271(1)(c) were to be initiated and third, that the claim for rebate under Section 88E, as an alternative, was to fail since