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 RAJAHMUNDRY vs. M/S K.SRINIVASA RAO AND OTHERS

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

price of the capital asset transferred by party of first part to the party of the second part. The agreement under consideration is very different from the agreement in Devidas Vithaldas and Co. (supra) where the assignor had retained with him the right to share profit so long as the name of Devidas Vithaldas and Co. was used. The payment

Commissioner of Income Tax, vs. M/s.B.Venkateswarlu AND others,

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

price of the capital asset transferred by party of first part to the party of the second part. The agreement under consideration is very different from the agreement in Devidas Vithaldas and Co. (supra) where the assignor had retained with him the right to share profit so long as the name of Devidas Vithaldas and Co. was used. The payment

Shri Maneklal Agarwal vs. The Deputy Commissioner of Income Tax

The appeals are allowed and

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

depreciation of value of property or even stabilization of property prices during the last three decades. 20 CFA Nos. 1/2005 & 2/2005 26. In these circumstances, grant of decree of specific performance in favour of the respondent when he has paid only a paltry sum of Rs.100 lacs to the appellants and has defaulted in payment of Rs.1.50 lacs within

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

price for such su.rplus enerry shall be mutually settled between A.P.Transco/TS Transco and APCpCL based on fuel cost and O&M charges plus depreciation but not exceeding rate for energr as per HT category-l of A.p.Transco/TS Transco. 22.4. Clause 2.6 of MoU-ll provides that when a participating industry is unable to utilise irs fu[ share

INCOME TAX BANGALORE vs. SHALINI BHUPAL

Appeal is dismissed

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

COMMISSIONER OF INCOME TAX-III, HYD vs. M/S. SUJANA METALS LTD, HYD

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

transfer of the assets. This decision of the CIT (A) has been upheld by the ITAT also dismissing the appeal of the Revenue vide impugned order dated 19th December, 2009. The ITAT downrightly observed that assessee seems to be the elite owner of the Trademark & Copyright of these publications. Also publications i.e. journals were undeniably capital assets of the assesee

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-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

depreciation of 20% after two years. In cross- examination he admitted that he has not attached any Government circular with respect to the valuation of the construction. He further stated that at the time of preparing the first report, he was not informed about the check period and when the check period was informed by the Lokayukta Police, he prepared