CHENNAKESAVA PHARMACEUTICALS VIJAYAWADA vs. THE COMI.OF INCOMETAX VIJ.

In the result, all the appeals are allowed setting aside the common

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO

11. Section 271 (1) (c) of the Act states as follows: “Section 271:-Failure to furnish returns, comply that notice, concealment of income etc. (1) If the Assessing officer, or the Commissioner (Appeals) or the Commissioner in the course of any proceedings under this Act, is satisfied that any person……….. (c) has concealed the particulars of his income or furnished

The Commissioner of Income Tax-I vs. Ascend Telecom Infrastructure Private Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

section 11 on commercial principles after providing for allowance for normal depreciation and deduction thereof from gross income of the Trust. Date of Judgment 14-08-2018 I.T.A.No.346/2015 Commissioner of Income Tax & another Vs. M/s Academy of Liberal Education 8/21 In view of the aforestated Judgment of the Bombay High Court, we answer question No. 1 in the affirmative

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

Section 2(15) of the Act?. 44. We are dealing with a taxing statute. The intention of the legislature in a taxation statute is to be gathered from the language of the provisions particularly where the language is plain and unambiguous. In a Taxing Act, it is not possible to assume any intention or the governing purpose of the statute

The Commissioner of Income Tax (Central) vs. G Radha Charan Reddy

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

1 THE STATE OF KERALA REPRESENTED BY SECRETARY, TAXES DEPARTMENT, THIRUVANANTHAPURAM - 695 001. 2 COMMISSIONER OF COMMERCIAL TAXES THIRUVANANTHAPURAM - 695 001. 3 DEPUTY COMMISSIONER COMMERCIAL TAXES, ERNAKULAM - 682 018. 4 THE ASST.COMMISSIONER ASSESSMENT COMMERCIAL TAXES, SPECIAL CIRCLE - I, KOCHI - 682 018. OTHER PRESENT: SRI. V. K. SHAMSUDEEN, SENIOR GOVERNMENT PLEADER THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD

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 :-

disallowing 50% depreciation is in conflict 11 with the provisions of Section 32 of the Act read with Rule 5 of the Income Tax Rules, 1962. 10. Learned counsel for the respondent has supported the impugned order of the ITAT. Decision and Findings 11. We have carefully considered the submissions of the parties and perused the paper book. Substantial Question

THE PRL COMMISSIONER OF INCOME TAX-II, VISAKHAPATNAM vs. L SURYAKANTHAM, VISAKHAPATNAM

In the result, the appeal fails and is hereby dismissed

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

disallowance of Rs.74,08,964/- under the provisions of Section 80JJAA of the Act were proposed. The 5 assessee thereupon filed objections before the Dispute Resolution Panel contesting all the additions. The Dispute Resolution Panel, however rejected the objections preferred by the assessee. The assessee thereupon filed an appeal before the Income Tax Appellate Tribunal (hereinafter referred

Commissioner of Income tax-V, vs. M/s. INTRACK INC,

11 be an assessee in default under the first proviso to sub-section (1) of section 201, then, for the purpose of this sub-clause, it shall be deemed that the assessee has deducted and paid the tax on such sum on the date of furnishing of return of income by the resident payee referred to in the said proviso

The Commissioner of Income tax vs. M/s.V.Satyanrayana AND Others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

COMMISSISONER OF I.T. RAJAHMUNDRY vs. M/S.Y RAMAKRISHNA AND OTHERS

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

COMMISSIONER OFINCOEMETAX vs. M/S. V.SATYANARAYANA AND OTHERS

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

The Commissioner of Income Tax vs. M/s.G.V.Krishna Reddy AND Others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

The commissioner of Income Tax vs. M/s.M.Narayana Choudary and Others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

Commissioner of Income Tax vs. Ms. B.krishna Murthy AND Others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

COMMR.OF I.T. RKAJAHMUNDRY vs. T.RAMI REDDY AND ORS

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

The Commissioner of income tax, vs. M/s.Y.Ramulu and Others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

The Commissioner of Income Tax-II vs. m/S.M.Ventakteswara Rao AND Others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

The Commissioner of Income Tax vs. M/s GRK Prasad AND others

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit

Commissioner of Income Tax, Rajahmundry. vs. m/s Ganesh Arrack Contractors,

In the result, for the above reasons, we set aside the orders

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

disallowances of expenditure is arbitrary and excessive. We further hold that sales, which are admittedly unverifiable should be estimated at eight times of purchase price and net profit should be estimated at 1% of such estimated sales or declared sales whichever is more clear of all deductions and allowances, and if the profit so estimated is less than the profit