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Income Tax - Supreme Court - Case Laws

Showing 1 to 20 of 3221 Records

  • 2017 (8) TMI 537 - SUPREME COURT OF INDIA

    K. Raveendranathan Nair Versus Commissioner of Income Tax And Anr.

    Court fees for appeal against the orders passed by the Income Tax Appellate Tribunal - scope of amendment - Held that - (i) Wherever assessee is in appeal in the High Court which is filed under Section 260A of the IT Act, if the date of assessment is prior to March 06, 2003, Section 52A of the 1959 Act shall not apply and the court fee payable shall be the one which was payable on the date of such assessment order. - (ii) In those cases where the....... + More


  • 2017 (8) TMI 536 - SUPREME COURT

    The Citizen Co-Operative Society Limited, Through Its Managing Director, Hyderabad Versus Assistant Commissioner of Income Tax

    Benefit of Section 80P - income of co-operative societies under Section 80P - providing credit facilities / financial business - its operation was not confined to its members but outsiders as well - whether the appellant is barred from claiming deduction in view of Section 80P(4) - Held that - The activities of the appellant are in violations of the provisions of the MACSA under which it is formed. The assessee had carved out another category of ....... + More


  • 2017 (8) TMI 197 - SUPREME COURT OF INDIA

    Commissioner of Income Tax 1, Mumbai Versus M/s. Hindustan Petroleum Corporation Ltd.

    Eligibility to benefit of Sections 80HH, 80-I and 80-IA - whether bottling of LPG is an activity which amounts to production or manufacturing for the purposes of the aforesaid provisions of the Act - Held that - No distinction was drawn between manufacture and production and the matter was not looked into from the angle as to whether the aforesaid process would amount to production or not. - Other reason which prevailed with the AO and which was ....... + More


  • 2017 (8) TMI 112 - SUPREME COURT OF INDIA

    Director of Income-Tax (Exemption) Versus Keshav Social And Charitable Foundation

    Donations received by trust - Assessing Officer treating the donations received as income under section 68 - Held that - Full disclosure of income by the assessee and also application of the donations for charitable purposes. It is not in dispute that the objects and activities of the assessee were charitable in nature - Section 68 has no application. See Director of Income-Tax (Exemption) Versus Keshav Social And Charitable Foundation 2005 (9) T....... + More


  • 2017 (8) TMI 43 - SUPREME COURT

    Northern Coal Fields Ltd. Versus Assistant Commissioner of Income Tax & Others

    Adjustment of amount refundable for the Assessment Year 2012-13 against the tax demands - Held that - HC order confirmed 2017 (3) TMI 1336 - MADHYA PRADESH HIGH COURT wherein held Section 245 of the Act infact permits the Revenue to set off any demand from the amount to be refunded but the only condition is of intimation in writing to such person against whom action is proposed to be taken. We find that demand having been raised against the petit....... + More


  • 2017 (7) TMI 1016 - SUPREME COURT

    Unitech Hospitality Services Limited Versus Assistant Commissioner of Income Tax

    Deduction towards license fee, external development charges and conversion charges - computation of sale consideration - Held that - No merit in this petition. The special leave petition is, accordingly, dismissed. - HC Order confirmed 2017 (2) TMI 495 - DELHI HIGH COURT wherein held in the absence of any obligation under any agreement between the appellant, the UBPL and UDHPL to pay monies of any sort to the original allottee, the appellant coul....... + More


  • 2017 (7) TMI 1015 - SUPREME COURT

    Commissioner of Income Tax & Another Versus The Nagarbail Salt Owners Cooperative Society Ltd

    Taxability in hands of society - fund transferred to Distribution Pool Fund Account - respondent Society assessed to tax on its income as person as defined under Section 2(31) - Held that - No merit in this special leave petition. It is, accordingly, dismissed. - HC order confirmed 2016 (12) TMI 237 - KARNATAKA HIGH COURT as stating that Income of the Society cannot be anything beyond the scope of Chapter XVI of the Bye laws. Therefore, logically....... + More


  • 2017 (7) TMI 1014 - SUPREME COURT

    M/s. Velvet Carpet & Co. Ltd. Versus C.I.T., Allahabad

    Entitled to weighted deduction in terms of the provision of Section 35B(1)(b)(iv) - appointment of agent - High Court 2005 (8) TMI 107 - ALLAHABAD High Court rejecting the claim of the assessee, observed that at no stage, the assessee had put up a case that it had maintained branch or agency outside the country - Held that - No doubt, the assessee was not maintaining any branch office. However, the case of the assessee was that Mr. Jack Barouk wa....... + More


  • 2017 (7) TMI 923 - SUPREME COURT

    Principal Commissioner of Income Tax Versus M/s Bussan Auto Finance India Pvt. Ltd.

    Allowance of expenditure - set up of business - HC order 2016 (11) TMI 970 - DELHI HIGH COURT stating it is not merely the earning of the income, but also the nature of expenditure incurred which is determinative at least in the facts of this case. The company strove and did all that it could to set-up the infrastructure which ultimately culminated in obtaining the NBFC license. In the process, the expenditure incurred by it had a nexus with the ....... + More


  • 2017 (7) TMI 873 - SUPREME COURT

    Engineers India Ltd. Versus Commissioner of Income Tax

    Grant of interest under Section 244A - Held that - High Court 2015 (3) TMI 110 - DELHI HIGH COURT reveals that another judgment in the case of Commissioner of Income Tax v. Sutlej Industries Ltd.(2010 (3) TMI 449 - DELHI HIGH COURT) was cited wherein the view taken was that in such circumstances the assessee would be entitled to interest under Section 244A of the Income Tax Act on the refund of the self-assessment tax. The High Court further did ....... + More


  • 2017 (7) TMI 853 - SUPREME COURT

    Commissioner of Income Tax Versus M/s. Pix Transmission Ltd.

    Claim of the assessee under Section 88-HHC - Whether Tribunal was justified in law in holding that the claim of the assessee under Section 88-HHC is justified even if he had not furnished the report of an accountant along with the return of income? - Held that - We are of the opinion that the question formulated above is a substantial question of law which arises for determination and, therefore, the High Court should not have dismissed the appea....... + More


  • 2017 (7) TMI 621 - SUPREME COURT

    M/s Paramount Communications Ltd Versus Principal Commissioner of Income Tax

    Validity of reopening of assessment - Held that - The Special Leave Petition is dismissed. HC order confirmed 2017 (4) TMI 188 - DELHI HIGH COURT - HC has held that to require the Revenue to disclose further details regarding the nature of documents or contents thereof would be virtually rewriting the conditions in section 147. After all, Section 147 merely authorises the issuance of notice to reopen with conditions. If the Court were to dictate ....... + More


  • 2017 (7) TMI 620 - SUPREME COURT

    Commissioner of Income Tax-Gujarat Versus Kwality Steel Suppliers Complex

    Revision u/s 263 - whether the view taken by the Assessing officer in accepting the valuation of the closing stock at cost price was a plausible view in the circumstances of this case? - Held that - In the instant case where the partnership firm stood dissolved by the operation of law in view of the death of one of the partners, i.e., the mother, but the business did not come to an end as the other partner, viz., son, who inherited the share of t....... + More


  • 2017 (7) TMI 541 - SUPREME COURT

    Commissioner of Income Tax Versus M/s. Hindustan Petroleum Corporation Ltd.

    Deduction u/s 80IB(4) allowed by HC 2013 (5) TMI 124 - BOMBAY HIGH COURT - Judgment reserved. Learned counsel for both the parties may file their brief written submissions within a period of one week........ + More


  • 2017 (7) TMI 432 - SUPREME COURT

    The Commissioner of Income Tax Versus M/s Sanghvi And Doshi Enterprise Thr. Its Director

    Deduction u/s 80IB - Ownership vs Builder - Held that - The special leave petitions are dismissed. HC order confirmed 2012 (12) TMI 84 - MADRAS HIGH COURT . - HC has held that the provisions nowhere require that developers who are the owner of the land alone would be entitled for grant of deduction under Section 80IB(10). Therefore, assessees were entitled to the benefit u/s 80IB(10) even where the title of the lands had not passed on to the asse....... + More


  • 2017 (7) TMI 431 - SUPREME COURT

    Shyamal Sarkar Versus Commissioner of Income Tax, Siliguri

    Time barred assessment u/s 158BE(1)(b) - period of limitation - time taken for special audit under section 142(2A) - Held that - The special leave petition is accordingly dismissed. HC order confirmed 2015 (5) TMI 11 - CALCUTTA HIGH COURT . - HC has held that the audit commenced on 13th November 2000 and was concluded on 24th April, 2001. Thus 163 days were consumed in the audit. Therefore, the period of 163 days has to be excluded from the perio....... + More


  • 2017 (7) TMI 430 - SUPREME COURT

    Takshashila Realties Pvt. Ltd. (Formerly Known As Takshashila Gruh Nirman Pvt. Ltd.) Versus Deputy Commissioner of Income Tax

    Special audit under Section 142 2A - Held that - The special leave petitions are dismissed. HC order confirmed 2017 (4) TMI 360 - GUJARAT HIGH COURT - HC has held that having found that there are complex issues relating to introduction of land by the partners into the firms; revaluation of land; credit of partners in capital account equal to revalued amount of land; conversion of capital account to loan account of shareholders and issues relating....... + More


  • 2017 (7) TMI 263 - SUPREME COURT

    M/s Pebble Investment And Finance Ltd. Through Authorized Representative Miten B. Chhadva Versus Income Tax Officer

    Claim for depreciation on Flameless Furnace - Held that - No merit in this petition. The special leave petition is, accordingly, dismissed. HC Order confirmed 2017 (1) TMI 1156 - BOMBAY HIGH COURT - As per HC Assessee was not able to explain even the whereabouts of the Furnace which is alleged to be owned by it -claim for depreciation denied as the purchase and lease was as sham on the basis of a statement of the Director of the lessee u/s. 133 -....... + More


  • 2017 (7) TMI 216 - SUPREME COURT OF INDIA

    Ashokbhai H. Jariwala Dead Thr. Lrs. Versus Asstt. Commissioner of Income Tax

    Addition of unexplained cash not recorded in the books of account under Section 69A - Held that - No merit in this Special Leave Petition. HC order confirmed 2017 (3) TMI 880 - GUJARAT HIGH COURT - HC has held that, Merely because, at the relevant time amount was not seized and returned, it cannot be said that the subsequently during the course of assessment, the aforesaid amount which was found in cash from the premises of the assessee could not....... + More


  • 2017 (6) TMI 524 - SUPREME COURT OF INDIA

    Honda Siel Cars India Ltd. Versus Commissioner of Income Tax, Ghaziabad

    Technical fee/ royalty payable in five equal installments on yearly basis to be treated as revenue expenditure or capital expenditure - Held that - There was no existing business which needed to be improvised with the aid of technical know-how - Royalty was not only for running the business but for bringing the business into existenc - whenever a complete new plant with a complete new process, with new technology is brought into existence, paymen....... + More


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