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. Mekins Agro Product (P) Ltd.

2(24) ofthe Act to include profits and gains, dividends, voluntary payment received by trust, etc. It may be noted that profits and gains are generally used in terms of business or profession as provided u/s. 28. The word " income ", therefore, is a much wider term than the expression profits and gains of business or profession ". Net receipt after deducting

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

2) of the Prevention of Corruption Act, 1988. The appellant denied the charge and claimed trial. 4. In order to prove the charge against the appellant, the prosecution has examined as many as 36 witnesses. The statement of the accused appellant under Section 313 of Cr.P.C. has also been recorded in which he denied the circumstances appears against him, plead

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

35 2. Andhra Pradesh Gas Power Corpn. Ltd., # 2O1,2nd Floor' My Home Sarovar Plaza, Secretariat Road, Hyderabad-500 063. ...RESPONDENT/RESPONDENT !.A. NO: 2 OF 200S{WAMP. NO: 1732 OF 2005) Petition under section 151 cPC praying that in the circumstanc€s stated in the aflldavit filed in support of the petition, the High Court may be pleased to suspend

The Commissioner of Income Tax IV vs. Praga Tools Limited

Bench: GODA RAGHURAM,N.RAVI SHANKAR

Depreciation of nditure on R&D u/s 35(2) of revenue expenses on scientific 36,344/- to the Baddi Unit or ion u/s 80IC, when the assessee n e ) o e d e ) C g g f f c r e RAJESH KUMAR 2024.07.29 12:21 I attest to the accuracy and authenticity of this order/judgment. Punjab & Haryana High Court

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

In the result, appeal stands dismissed

Bench: This

35-D were not satisfied? 2. Whether on the facts and in the circumstances of the case, the Tribunal is right in setting aside the disallowance of exchange fluctuation loss of Rs.3,63,47,099/- made by the assessing authority even when the CBDT Instruction No.3/2010 dated 23.03.2010 refers to market losses are notional and contingent and actual losses

Commissioner of Inccome Tax vs. Agricultural Market Committee

In the result, the appeal filed by the revenue

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 16Th March, 2023 Appearance : Mr. Smarajit Roychowdhury, Adv. ...For The Appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Sanjoy Bhowmick, Adv. Ms. Swapna Das, Adv. ...For The Respondent. The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The ‘Act’ For Brevity) Is Directed Against The Order Dated 30Th November, 2010 Passed By The Income Tax Appellate Tribunal, “A” Bench, Kolkata (The Tribunal) In Ita No.368 & 369/Kol/2010 Years 2005- 06 & 2006-07. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration:

35,48,466/- for the assessment year 2005- 06 and Rs.1,18,50,085/- for the assessment year 2006-07 relating to purchase of steel rolls by treating the same as revenue expenditure ? (ii) Whether the learned Tribunal below committed substantial error of law in deleting the addition of Rs.5,24,80,600/- for the assessment year

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

2. The property in Survey Nos.19 and 20 of Ambalipura Village, Varthur Hobli, Bangalore South Taluk is fully described in the Schedule hereunder written and delineated in red on the plan annexed hereto and hereinafter called “the contract property”. The First Party hereby permits the Second Party to enter into and upon the contract property (including the land occupied

The commissioner of Income Tax-IV, Hyderabad vs. M/s. Lanco Infratech Ltd.,

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

2. Whether on the facts and in the circumstances of the case and in law the Tribunal was right in holding that difference between market price of the shares at the time of grant of option and offer price amounts to discount and the same has to be treated as remuneration to the employees for their continuity of service

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

2(14) is not a word of art but a word of commercial implication. The bottom line is the availability of assets, activities carried out for exploiting the assets and that the assessee is not a mere onlooker in the activities of the company or a passive recipient of rent for utilization of facilities. 18. Applying the above ratio

Commissioner of Income Tax vs. M/s Ch.Veeraju AND co.

2(14) is not a word of art but a word of commercial implication. The bottom line is the availability of assets, activities carried out for exploiting the assets and that the assessee is not a mere onlooker in the activities of the company or a passive recipient of rent for utilization of facilities. 18. Applying the above ratio

Commissioner of Income Tax - VI vs. M/s. S.P. Steels

2(14) is not a word of art but a word of commercial implication. The bottom line is the availability of assets, activities carried out for exploiting the assets and that the assessee is not a mere onlooker in the activities of the company or a passive recipient of rent for utilization of facilities. 18. Applying the above ratio

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

Shri Maneklal Agarwal vs. The Deputy Commissioner of Income Tax

The appeals are allowed and

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

2 years to file a suit and obtain specific performance. The three-year period is intended to assist the purchasers in special cases, 18 CFA Nos. 1/2005 & 2/2005 as for example, where the major part of the consideration has been paid to the vendor and possession has been delivered in part- performance, where equity shifts in favour of the purchaser