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

66,32,670/-. The return was processed under Section 143(1) and was selected for scrutiny and notice under Section 143(2) of the Act was issued. The assessee had taken premises on lease for a period of three years. The assessee claimed expenditure of Rs.89,23,817/- on account of leasehold improvements as revenue expenditure in the computation

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 (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

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

The appeal is dismissed

depreciation was ordered to be charged on it. Rs.7650/- were added to the income of the assessee on account of telephone expenses, as the assessee admitted the expenditure incurred on account of telephones installed at residences. Further addition of Rs.2,00,000/- was made on account of sale of rice, as no stock was maintained by the assessee quality wise

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

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, vs. Rangaraya Medical College Old Students Association

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 16 of the Reforms Act, was granted. The order passed by the APERC was upheld by a Bench of this Court by an order dated 08.O6.2O01 in C.M.A.No.L97I of 2OOO and other connected matters- 10. Against the aforesaid order passed by a Bench of tltis Court, a Special Leave Peti(ion was preferred. 11. The Honble Supreme

Shri Maneklal Agarwal vs. The Deputy Commissioner of Income Tax

The appeals are allowed and

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

66 years S/o. of Sh. Amar Nath 3 Smt. Raj Kumari aged 57 W/o. Shri Pran Nath 4 Smt. Sudesh Kumari aged 60 years, W/o. Shri Sudagar Shah 5 Dr. Sandeep Kumar aged 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

Commissioner of Income Tax, Rajahmundry vs. M/s. Kakinada Coop. Town Bank LTd., Kakinada

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management

depreciating value”, and that the PMS is supposed to “provide the skill and expertise to steer through the complex volatile and dynamic conditions of the market”. The order may be extracted in relevant part: “10. Under PMS a person deposits the money under the contract for a period normally not less one year. After depositing the money the investment