PROGREESIVE CONSTRUCTIONS LIMITED vs. JT. COMMISSIONER OF INCOME TAX

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

depreciation on tmc[s. Thereafter, uide the assessmenr order dated 31.03.1997 passed under Section 143(3) read with Section 1a8(sz;) o[ the Act, assessing officer computed t zol trn ltz 5 the total incor,re of the assessee at Rs.2,16,89,170.00. Flowever, after adjustmerrt of the refund for earlier assessment y3ars, the amount payabl,: bythe assessee

The Commissioner of Income Tax -V, vs. M/S Secunderabad Club

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

40,725/ The assessee manufactures mosquito repellants and has also traded, during the year in aerosols, oil spray, hand pumps, mats and coils. It had claimed deduction u/s 80-IB in respect of three units. The AO stated, in the impugned notice that: “(a) in Para- (i) of notes of unit—wise Profit and Loss Account, the assessee had stated

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

40,940/- and ` 29,20,496/- for the assessment years 1987-88 and 1988-89 respectively which was calculated by the appellant as per the provisions of law as both the deductions were independent claims. The Assessing Officer allowed claim under Section 32AB of the Act but allowed deduction under Section 80I of the Act amounting

The Commissioner of Income Tax IV vs. M/s. Nav Bharat Enterprises Limited

depreciation of Rs.17.06,58,039/- on software imported even though the assessing authority had rightly disallowed the expenditure under section 40

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

The appeal is dismissed

Section 40 (a) (ia) of the Act 1961 payment of Rs.1,01,016/- made to Satake India Engg (P) Ltd on account of AMC was disallowed. Further Rs.56,650/- incurred on purchase of UPS held to be capitalized and depreciation

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

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

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

Commissioner of Income Tax-III vs. Sri N.Sai Baba Naidu

Bench: J SREENIVAS RAO,ALOK ARADHE

40,000 to tax under the head “income from other sources” with the result that the deductions under Section 24 claimed by the assessee on the footing that the rental income was assessable under the head “income from house property” stood disallowed. The net result was an addition of `52,92,000/-. 3. The assessee filed an appeal

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-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

depreciation in respect of such machinery or plant has been allowed or is allowable under the provision of this Act in computing the total income of any person for any period prior to the date of the installation of machinery or plant by the assessee. Explanation 2.-Where in the case of an [undertaking], any machinery or plant

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-II vs. M/S.TRANSPORT CORPORATION OF INDIA

In the result, we set aside the assessment orders, except to

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

Section 132 of the Income-tax Act, in the premises of the assessee on 6.1.2009. After completing all procedural formalities, assessments for the years 2003-04 to 2009-10 were reopened. However, these appeals are concerning the assessment years 2006-07 to 2009-10 only. Accordingly, the assessments were completed by Annexure A orders where, rejecting the books of accounts

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

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

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

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 110 of the Act, if an AOP is chargeable to tax at maximum marginal rate then the share of profits in the hands of the members is not chargeable to tax at all. 19. Now against the above contours of taxability of an AOP, we have to see the facts of the case before us. The first