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

COMR. OF IT HYD vs. M/S NEERAJ PETRO CHEMICALS LTD HYD

The appeal is partly allowed

depreciation in respect of guest house maintained by the assessee? (C) Whether misc. income amounting to Rs.577.48 Lacs and processing charges amounting to Rs.171.37 lacs, being part and parcel of assessee’s business income and required to be included in the total turnover, the Tribunal was justified in excluding the same for the purposes of computation of deduction u/s.80HHC

Commissioner of Income Tax, vs. Dr. T.Ravi Kumar,

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 10Th April, 2024. Appearance: Mr. J. P. Khaitan, Senior Advocate Mr. Sanjay Bhowmick, Advocate Ms. Swapna Das, Advocate … For The Appellant. Ms. Smita Das De, Advocate … For The Respondent. 1. Heard Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sri Sanjay Bhowmick, Learned Counsel For The Appellant/Assessee & Ms. Smita Das De, Learned Senior Standing Counsel For The Respondent. 2. The Assessment Years Involved In The Present Appeal Are Assessment Year 1999-2000 & Assessment Year 2000-01. By Order Dated 16.08.2012, This Appeal Was Admitted On The Following Substantial Questions Of Law :-

4) (1981) 128 ITR 402 (Del) Addl. CIT Vs. M/s. Rajindra Flour & Allied Industries Private Limited and several other decisions. 3.5 The appellant has also given several decisions to support its claim that liability of prior period is allowable in the year of 9 crystallization. So, in view of all these facts and case laws and the facts that

Commissioner of IncomeTax-2, vs. Mr. Mustafa Alam Khan,

Appeal is allowed

Bench: SANJAY KUMAR,GUDISEVA SHYAM PRASAD

4 Hereinafter referred to as the ‘AO’ 5 Hereinafter referred to as the ‘Commissioner’ 6 9. Learned Senior Counsel for the assessee contends that the deduction by the AO regarding the amount sought to be amortized in respect of the use of trademarks was rejected on the ground that the deduction is covered by Section 32(1) as well

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 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:

depreciation of rolls prior to 4 30th September, 1991 as 100% and thereafter at 50%, so it to be assumed that the expenditure should be treated as capital expenditure. This aspect was also considered in the case of Malhotra Industrial Corporation taking note of the decision of the High Court of Karnataka in the case of Mysore Spun Concrete Pipe

The Commissioner of Income Tax-IV vs. Nekkanti Sea Foods Limited

The appeal is dismissed without any order as to costs

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

depreciation was not allowed. 5. The CIT (Appeals) affirmed the aforesaid findings given by the Assessing Officer. 6. In the second appeal before the tribunal, it has been held that the expenditure incurred was a revenue expense and should be allowed. ITA 160/2012 Page 3 of 10 7. It is an undisputed fact that the respondent-assessee had entered into

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 1,05,72,696 1,10,86,334 1,26,18,427 1,39,66,450 Total Expenditure 4,81,29,896 4,75,41,722 5,01,63,902 3,88,21,912 Profit for the year 2,53,21,438 2,09,87,242 62,58,319 836236 Add Balance brought forward 4

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

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

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

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

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

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

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

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

4) The proposed vendors have agreed to sell whole of the land which is subject matter of the agreement and in case there is any deficiency in the land on spot, they shall not be held responsible for the same. (5) On the date when the proposed vendors receive the whole of the sale consideration, they would be bound

The Commissioner of Income Tax-III vs. Smt.Anitha Sanghi

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation on securities (iv) floating rate notes of London branch (v) DICGC loans (vi) suits filed accounts (vii) miscellaneous provision cannot be added back in accordance with Explanation of Section 115JA of the Act in the light of the judgment of the Apex court in H.C.L. Comnet when there is diminution in the value of assets as contended

The Commissioner of Income Tax IV vs. Margadarshi Chit Fund Pvt. Ltd.,

The appeal is dismissed

37 I attest to the accuracy and authenticity of this order/document P&H HC, Chandigarh ITA-228-2013 2023:PHHC:047619-DB 2 were completed and addition of Rs.1,01,016/- was made and keeping in view the provisions of Section 40 (a) (ia) of the Act 1961 payment of Rs.1,01,016/- made to Satake India Engg

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