Principal Commissioner of Income Tax-3 vs. M/s Satyasai Bhavani Hsopitals Private Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Transfer Pricing Officer (TPO) or Dispute Resolution Panel (DRP) which comprises of three Commissioners and the Revenue or the assessee may feel dissatisfied, because of the reversal or modification of such findings by the Tribunal resulting in leaving out of certain comparables or adding on of certain comparables for determining the ‘Arm’s Length Price’ in the hands

The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

price  lower than the market rate. If that be so,  the   question   of   inflating   the   loss   by  transferring   the   shares   to   group   company  would   not   arise.   Under   ordinary  circumstances,   it   is   always   open   to   the  assessee in his own wisdom to either hold on  to certain bunch of shares or to sell the  same to avoid further loss

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

price  lower than the market rate. If that be so,  the   question   of   inflating   the   loss   by  transferring   the   shares   to   group   company  would   not   arise.   Under   ordinary  circumstances,   it   is   always   open   to   the  assessee in his own wisdom to either hold on  to certain bunch of shares or to sell the  same to avoid further loss

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

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

price  lower than the market rate. If that be so,  the   question   of   inflating   the   loss   by  transferring   the   shares   to   group   company  would   not   arise.   Under   ordinary  circumstances,   it   is   always   open   to   the  assessee in his own wisdom to either hold on  to certain bunch of shares or to sell the  same to avoid further loss

The Commissioner of Income Tax-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

31 Commissioner of Income Tax reported in (1961) 42 ITR 49 (SC), at para 2, it has been held as under: “2. The appellant contends that because it is a company formed with the object of promoting and developing markets, its income derived from the shops and stalls is liable to be taxed under s.10

The Commissioner of Income Tax (IT and TP) vs. M/s. Idea Cellular Limited

Accordingly, the learned appellate authority has rightly dismissed the

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

price. 27. In that view of the matter, as it is admitted case of the petitioner that the electricity generated in 540 MW Power Plant is used in the course of or furtherance of his business, which is evident from Form G provided by the taxpayer i.e. the petitioner herein, the petitioner would not be entitled for ITC to electrical

Suchirindia Infratech Pvt. Ltd vs. Dy. Commissioner of Income-Tax

Accordingly, the learned appellate authority has rightly dismissed the

Bench: T.VINOD KUMAR,M.S.RAMACHANDRA RAO

price. 27. In that view of the matter, as it is admitted case of the petitioner that the electricity generated in 540 MW Power Plant is used in the course of or furtherance of his business, which is evident from Form G provided by the taxpayer i.e. the petitioner herein, the petitioner would not be entitled for ITC to electrical

The Commissioner Of Income Tax (Central) vs. Madhu Enterprises

Bench: SANJAY KUMAR,GUDISEVA SHYAM PRASAD

price of goods taxable under Section 10 of the Act; ii) Transaction falling under Section 5(2), Section 6-A and Section 6(2) of the CST Act, 1956, iii) Value of transfer of a business as a whole iv) [ xxx] (iii) This sub-rule is not applicable, if the VAT dealer is making exempt transactions. 22. By comparing

S.l. Shiva Raj vs. Commissioner of Income Tax,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

price of goods taxable under Section 10 of the Act; ii) Transaction falling under Section 5(2), Section 6-A and Section 6(2) of the CST Act, 1956, iii) Value of transfer of a business as a whole iv) [ xxx] (iii) This sub-rule is not applicable, if the VAT dealer is making exempt transactions. 22. By comparing

M/S VAIBHAV vs. JOINT COMM. OF INCOME TAX RANGE 3 HYD

Appeal is allowed and the judgments and decrees passed by the

Bench: The Learned Trial Court) Was Allowed & The Judgment & Decree Dated 12.12.2000, Passed By Learned Senior Sub Judge, Kullu Was Set-Aside. (Parties Shall Hereinafter Be Referred To In

2 and the balance amount of ₹ 4,500/- was not paid. Since the title in the property had already passed, even if the balance amount of the sale price was not paid, the sale would not become invalid. The property sold would stand transferred to the buyer subject to the statutory charge for the unpaid part of the sale price

The Commissioner of Income Tax (Central) vs. Akula Nageswara Rao

In the result, the orders passed by the Assessing

Bench: SANJAY KUMAR,GUDISEVA SHYAM PRASAD

price as well as the terms and conditions. The aforesaid quotation states that Dell product would be exported from Malaysia. Thus, the petitioner seeks customer's upfront contractual approval of manufacture and supply of required product from Malaysia. On receipt of the quotation, customer accepts either by signing the same or by raising a purchase order or by making

The Commissioner of Income Tax IV vs. New Bombay Goods Transport

31. AIR 1963 SC 980 32. AIR 1963 SC 548 33. AIR 1966 SC 563 34. AIR 1966 SC 1350 35. AIR 1975 SC 887 36. AIR 1971 SC 477 37. (1983) 54 STC 45 (Guj) 38. AIR 1981 SC 446 39. (1973) 2 SCC 551 40. AIR1952SC366

The Commissioner of Income Tax-V vs. The Armed Forces Officers Co.Op Housing Society Ltd

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

2 crores in October, 2006 and Rs.1 crore in November, 2006 is factually incorrect. 29(i). In fact this plea of the defendants to be paid a sum of Rs.2 crores in October, 2006 and Rs.1 crore in November, 2006 is barred by the provisions of Sections 91 and 92 of the Indian Evidence Act, 1872. Once a contract

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

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

2 companies and certain other individuals as Directors of 4 listed companies, 3 subsidiaries of one listed company and an unlisted company is bad in law since the Joint APLs merely represents the estate of PDB and thus, had no rights to seek appointment of Directors in companies in which PDB was not a "Member". Further, without prejudice

Commissioner of Income Tax vs. Sri Chirla Rama Reddy, Contract

Appeal is dismissed with costs

Bench: The Hon’Ble Mr. Justice N.K.Sudhindrarao R.S.A.No.70/2007

2. 2009 (7) SCC 363 - Suraj Lamp and Industries Private Limited. -Vs- State of Haryana & Another 3. 2010 (8) SCC 383 - Meghamala and Ors.-Vs-G Narasimha Reddy and Ors. 4. 2011(9) SCC 1 - K.T.Plantation Private Limited & Anr. Vs. State of Karnataka”. 95. As discussed above, with reference to Section 54 of the Transfer of Property Act, the sale

Commissioner of Income tax-VI vs. M/s. Narpat Girji Constructions,

The appeal is allowed

price of the said land and buy the scheduled property situated in 6.3 acres, immediately. 19. Prayer was sought for a direction to the Official Liquidator to sell the said 6.3 acres of schedule property wherein the Institution of the KIAMS is situated by accepting the amount stated therein. 20. Company Court vide order dated 30.09.2008 took note

Commissioner of Income Tax, vs. M/s Y.Ramakrishna and others

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

31,75O/- and purchaser paid advance of Rs. 2,O0,00O/- and the balance sale consideration is agreed to be paid by the purchaser in three Bi-monthly instalments, as (i) Rs. 3,75,000/ - ot 23.r2.1998; (ii) Rs. 3,75,OOO/- on 23.02.7999 and (iii) Rs. 3,81,750/ on23.O4.1999. It Is the case of vendors that purchaser

The Commissioner of Income Tax-III, vs. Sri Prem Chand

31. We may make it clear that so far as use of skimmed milk powder for processing the natural milk to standardize its fact contents at different levels and selling the milk of varied forms at different price may not amount to manufacture, as even after the processing, the commodity commercially known for marketing remains the same viz. milk