Commissioner of Income Tax-II vs. M/s.Jayalakshmi Chits

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains,  accrued   by   sales   of   relevant   shares,   is  irrelevant for deciding the allowability or  otherwise of loss shown by the assessee on  alleged sale of these shares, as sales have  not   been   conclusively   established   by   the  assessee. 26.   In   view   of   above   discussion,   we   hold  that   as   assessee   could   not   establish   the  factum   of   sales   made   to   his/her   associate  concern

The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains,  accrued   by   sales   of   relevant   shares,   is  irrelevant for deciding the allowability or  otherwise of loss shown by the assessee on  alleged sale of these shares, as sales have  not   been   conclusively   established   by   the  assessee. 26.   In   view   of   above   discussion,   we   hold  that   as   assessee   could   not   establish   the  factum   of   sales   made   to   his/her   associate  concern

Commissioner of Income Tax-V, vs. Sri Vinod Krishna Conjeevaram,

The appeal is dismissed

long term 3 capital gains”. Similarly, the assessing authority noticed that one of the partners Sri Mahesh G. Shetty had introduced Rs.40 Lakhs as capital in the appellate firm. On going through the capital account of the partner, the assessing authority found that there was no mention about this amount. Therefore, the assessing authority treated this as an unexplained cash

M/s. Canara Securities Ltd vs. Dy. Commissioner of Income Tax

Bench: M.S.RAMACHANDRA RAO,T.AMARNATH GOUD

terms of Section 178 of the Companies Act, 2013. Therefore, the Chairman of the company, HVL cannot arrogate unto himself the power to cause such appointment when such power ultimately rests with the Board of Directors. The observation of the two Joint APLs that the evident performance of BCrL, the flagship company of MP Birla Group is deteriorating ever since

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

terms of the completion certificate issued by the NDMC, the LGF was sanctioned as „storage.‟ It was for this reason that the buyers lost interest. The Assessee then decided to return the advance received and also compensate the buyers since the buyers‟ funds had remained with the Assessee for some time. The Assessee had sought to explain that this compensation

Commissioner of Income Tax, vs. M/s. Kokivenkateswara Reddy AND others,

Appeals of the Revenue are dismissed

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

terms of the completion certificate issued by the NDMC, the LGF was sanctioned as „storage.‟ It was for this reason that the buyers lost interest. The Assessee then decided to return the advance received and also compensate the buyers since the buyers‟ funds had remained with the Assessee for some time. The Assessee had sought to explain that this compensation

The Commissioner of Income TAx-IV, vs. M/s. Mahaveer Enterprises (India) Limited

The Appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains on transfers, to invest unaccounted money (`black money') and to avoid payment of `unearned increases' due to Development Authorities on transfer. 2. The modus operandi in such SA/GPA/WILL transactions is for the vendor or person claiming to be the owner to receive the agreed consideration, deliver possession of the property to the purchaser and execute the following documents

M/s. Maruthi Movies vs. Income Tax Officer

Bench: This Court & Making The Same A Rule Of Court, Alongwith Decree Against Respondents Awarding Rs.5,35,920/- Paid By The Petitioner To The Arbitrator As Their Share Of Fees As Per Order Dated 21.12.2010. 2. Respondent No.1 Has Filed Its Objections To The Award Under Section 30 & 33 Of The Act In Form Of I.A. No.9067/2011. Respondent No.2 Has Also Filed Its Objections To The Award.

long as the act of the Directors was not ultra vires and no issue of public policy was involved, the Company would still be liable (in the present case entitled) under the contract even in absence of a seal of the Company. 31. I, therefore, see no reason to interfere with the finding of the Arbitrator on this issue

Commissioner of Income Tax (TDS), vs. M/s Country Club Inda Limited

long period and had rendered services for Nortel India for a period of more than 30 days in a fiscal year and the Assessee had reimbursed large amount of expenses incurred by Nortel India on these expatriate employees. ITA 666/2014 & Ors. Page 13 of 57 17. According to the AO, the Assessee was ―a shadow company of Nortel Group

The Commissioner of Income Tax IV vs. Shri Raaj Kumar Jain

Section 27 begins with a proviso and states that when any fact is deposed to as discovered, in consequence of information received from a person accused of any offence, in the custody of a police officer, so much of such information as relates distinctly to the fact thereby discovered may be proved, 49 whether it amounts to a confession

PR COMMR OF INCOME TAX-2, HYDERABAD vs. K RAVINDER REDDY, HYDERABAD

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

long as the lien remains with MSCo the said company retains control over the deputationist‟s terms and employment. The concept of a service PE finds place in the UN Convention. It is constituted if the multinational enterprise renders services through its employees in India provided the services are rendered for a specified period. In this case, it extends