The Commissioner of Income Tax-I vs. Ascend Telecom Infrastructure Private Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation in respect of building, plant and machinery owned by the assessee and used for the business purposes. It further provides for deduction subject to section 34

COMM.OF INCOMETAX AP I HYD vs. M/S.DIAMOND HATCHERIES P.LTD HYD

34 I attest to the accuracy and integrity of this document High Court Chandigarh ITA No.49 of 2001 5 Tribunal reversed the decision taken by the CIT(A) holding that deduction under Section 80I of the Act was to be allowed after reducing the deduction allowable to the appellant under Section 32AB of the Act. The Tribunal after considering

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

depreciation loss of Rs. 114,47,28,440/-. The same was subsequently revised under section 154 at a loss of Rs. 114,46,13,711/- and further recomputed at Rs. 116,30,34

The Pr. Commissioner of Income-tax vs. D.L.V. Sridhar

Bench: D.V.S.S.SOMAYAJULU,RAMESH RANGANATHAN

34,646/- under Section 115 JB of the Act. 3. The respondent assessee had two units: One unit was located in a ITA No.365/2018 Page 2 of 9 non-STPI zone and hence its income was taxable. The other unit was located in a STPI zone in Gurgaon and its income was exempted under Section

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation relating to fixed assets acquired for the development and related expenses and the sale price of the undivided share in the land at the rate of Rs.150/- per square foot payable by the intending purchasers as per Article 6 hereof. 8.3 The amount payable to the First Party under Article 8.1 be paid together with the sale price

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

Section 143(3)/147 of the Act. Assessment Order dated 18th December, 2006 14. The AO observed that the Assessee had not booked any establishment cost, 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

Principal Commissioner of Income Tax-2 vs. M/s Indur Green Power Private Limited

In the result, all the appeals fail and are hereby

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation. All these expenditure have been incurred for the purpose of carrying out the activities of the company and are duly admissible. Hence, there is no cause for denying the same being not incurred for the purpose of the activities of the company. Any organization is required to incur expenditure for the purpose for which

COMM OF INCOME TAX, HYD vs. M/S. BALAN NATURAL FOOD PRIVATE LTD., HYD

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

depreciation claimed on securities classified as ‘Held to Maturity’ and further held that the assessee had earned aggregate sum of Rs.68,65,73,177/-, which is exempt under various sub-Sections of Section 10 of the Act and disallowed the aforesaid amount in terms of Section 14A of the Act. A sum of Rs.3,43,28,658/- being 5% thereof

Commissioner of Income Tax vs. Agricultural Market Committee

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

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

Section 37 of the Act. It was further held that ATMs are computers and therefore, assessee is eligible to depreciation of 60%. It was further held that even though the assessee had changed the method of revenue recognition, however, he is entitled to change the method of accounting as the same has no impact on the revenue. Accordingly, the appeal

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-IV vs. M/S QUALITY CARE INDIA LTD

Bench: A.SHANKAR NARAYANA,V RAMASUBRAMANIAN

Section 147 of the Act? 2) Whether on facts and circumstances of the case, the Hon’ble ITAT is correct in not considering the decision of the Apex Court in the case of Raymond Woolen Mills Ltd. Vs. ITO (236 ITR 34)(SC) wherein it was held that in determining the validity of re-assessment proceedings, it has only

THE STATE BANK OF HYD. vs. THE JT.COMMI.SPL.RANGE IV HYD.

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

depreciation allowancc to the l8 assessees. Based upon the said Supreme Court decision, rectification orders were passed by the successor assessing authority. Whether a subsequent decision can be the basis for "rectifying" a.:n ea.rlier order in exercise of the powers under section 154 of the lncome-ta-x Act? Although the opening words of section 154(l) - "with

Commissioner of Income-Tax, vs. Rangaraya Medical College Old Students Association

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

34 Ltd., Singareni Bhavan, Red Hills, ...APPELLANT/RESPONDENT AND 1 . VST I ndustries Limited, P.B.No. 1 804, Azamabad, Hyderabad-500020. ...RESPONDENT/PETITIONER 2. Andhra Pradesh Gas Power Corpn. Ltd., #201, 2d Floor My Home Sarovar Plaza, Secretariat Road, Hyderabad -500063 ...RESPONDENT/RESPONOENT l.A. NO: 2 OF 2005(WAMP. NO: 1731 0F 2005) Petition under Section 151 CPC praying that in the circumstances stated

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 [TDS] vs. The Executive Engineer

In the result, these appeals fail and are

Bench: RAMESH RANGANATHAN,M.SEETHARAMA MURTI

section 115 JB of Act? 8. Whether on the facts and in the circumstances of the case, the Tribunal erred in allowing the relief with regard to losses which were due to operational mistakes, related mainly to ATM transactions of customer and that loss is essential capital loss incurred for operational purposes? 9. Whether on the facts

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

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Section 14, which are mutually exclusive and determine the heads under which the income is to be assessed. The objects in the memorandum of the company cannot determine the heads of income under which the income is to be taxed. The lease rental income from any property of which an assessee is a beneficial owner shall be liable

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

Section 313 of Cr.P.C. has also been recorded in which he denied the circumstances appears against him, plead innocence and have submitted that he was posted as Junior Engineer from April 1978 to 1979 at PNT Department, Nasik. He was working since February 1980 in Irrigation Department. But the income of the said period was not counted. His wife

Shri Maneklal Agarwal vs. The Deputy Commissioner of Income Tax

The appeals are allowed and

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

34 years 6 Er. Randeep Kumar aged 32 years, Sons of Sh. Pran Nath 7 Smt. Chander Kanta aged 46 years, wife of Sh. Vinod Kumar All residents of 116-A, Bakshi Nagar, Jammu Appellants Nos. 1 and 3 to 7 th. their power of attorney, Shri Pran Nath, appellant No. 2 Through: Mr. Z. A. Shah, Sr. Adv. with

The Commissioner of Income Tax V vs. Smt. Ch. Uma

section 154? (ii) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in sustaining the order of rectification passed by the Assessing Officer on 16.10.2008 when the CIT(A) had already recorded a fining that the appellant had continued its business during the year and no mistake was apparent from record