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

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

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

iv). Whether, without prejudice, the Tribunal erred in attributing 50% of the alleged profits to the alleged PE of the Appellant in India and whether such approach and quantification was inconsistent with Article 7 of the DTAA? ITA 666/2014 & Ors. Page 7 of 57 (v). Whether Tribunal erred in confirming the levy of interest under section 234B

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

IV. Second Party shall in consultation with the First Party market and manage the entire project, including First Party’s entitlements. Second Party has this day paid the First Party Rs.5,00,000/- (Rupees five lakhs only) as consideration for this MOU vide Demand Draft No.0321124 dated 12th May 1995 drawn on Bank of India, in favour of Ind-Sing

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

iv. depreciation of plant and equipment that cannot be allocated to a particular contract.” 21. The pros and cons of the CCM are discussed in para 10. Para 11.2 of AS 7 states that when a contractor uses a particular method of accounting for a contract, “then in respect of all other contracts that meet similar criteria, the same method

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

Appeals of the Revenue are dismissed

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

iv. depreciation of plant and equipment that cannot be allocated to a particular contract.” 21. The pros and cons of the CCM are discussed in para 10. Para 11.2 of AS 7 states that when a contractor uses a particular method of accounting for a contract, “then in respect of all other contracts that meet similar criteria, the same method

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