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Income Tax - Supreme Court - Case Laws

Showing 1 to 20 of 3176 Records

  • 2017 (4) TMI 1109 - SUPREME COURT OF INDIA

    Formula One World Championship Ltd. Versus Commissioner of Income Tax, International Taxation 3, Delhi & Anr.

    Royalty receipt - income accrues or arises or is deemed to accrue or arise - business connection - Double Taxation Avoidance Agreement between the Government of United Kingdom and the Republic of India - Permanent Establishment (PE) in India - whether any part of the consideration received or receivable by FOWC from Jaypee outside India was subject to tax at source under Section 195? - Held that - As per Article 5 of the DTAA, the PE has to be a ....... + More

  • 2017 (4) TMI 1108 - SUPREME COURT

    M/s Kolte Patil Developers Ltd Versus Dy. Commissioner of Income Tax Officer

    Condonation of delay - Held that - No reason to condone the delay of 484 days in filing the appeal. HC order confirmed. 2017 (4) TMI 1061 - BOMBAY HIGH COURT ....... + More

  • 2017 (4) TMI 1037 - SUPREME COURT OF INDIA


    Benefit of provisions of Section 72A - whether waiver of interest by financial institutions would not be treated as income of the appellant-assessee under Section 41(1)? - Held that - In the instant case, the assessee was given the benefit of accumulated loses of the amalgamated company. The effect thereof is that thought these loses were suffered by the amalgamated company they were deemed to be treated as loses of the assessee company by virtue....... + More

  • 2017 (4) TMI 975 - SUPREME COURT

    Dy. Commissioner of Income Tax Versus M/s. Raghuvir Synthetics Ltd.

    Prim-facie adjustment u/s 143(1) intimation - Expenditure on advertisement and public issue - whether public issue expenses were covered by Section 35D or Section 37? - High Court dismissed the appeal on the ground that a debatable issue cannot be disallowed while processing return of income under Section 143(1)(a) of the Act - Held that - Even though it is a debatable issue but as Gujarat High Court in the case of Ahmedabad Mfg. & Calico (P)....... + More

  • 2017 (4) TMI 925 - SUPREME COURT

    The Commissioner of Income Tax, Ahmedabad Versus Equinox Solution Pvt. Ltd.

    Slump sale - deduction u/s 48(2) - sale of depreciable assets - taxable as LTCG or STCG - whether the case of the assessee was covered u/s 50(2) because it was in the nature of short term capital gain? - Held that - The case of the respondent (assessee) does not fall within the four corners of Section 50(2) of the Act. Section 50 (2) applies to a case where any block of assets are transferred by the assessee but where the entire running business ....... + More

  • 2017 (4) TMI 924 - SUPREME COURT

    Takshashila Realities Pvt Ltd Previously Known As Takshashila Gruh Nirman Versus Deputy Commissioner of Income Tax

    Validity of reopening of assessment - notice issued to non existent company - HC 2016 (12) TMI 872 - GUJARAT HIGH COURT held the impugned notices issued against the non existent Company, cannot be sustained and the same deserves to be quashed and set aside - Held that - After having heard for quite sometime, the learned Senior Counsel appearing for the petitioner(s) sought permission to withdraw the special leave petitions in order to pursue the ....... + More

  • 2017 (4) TMI 671 - SUPREME COURT

    Susham Singla Versus Commissioner of Income Tax, Patiala

    Income from house property - annual value of any property - Held that - HC order confirmed 2016 (12) TMI 1298 - PUNJAB AND HARYANA HIGH COURT - Annual value of the properties like the ones in the case in hand which are more than one, owned by the assessee and which admittedly remained vacant throughout the previous year would not be assessed under Section 23(1)(c) but under Section 23(1)(a). The annual value would, therefore, be determined notion....... + More

  • 2017 (4) TMI 670 - SUPREME COURT

    Commissioner of Income Tax Versus Shree Chowatia Tubes (India) Pvt. Ltd.

    Penalty under Section 271(1)(c) - the assessed income is loss, as a result of reduction at the time of final asssessment as against the amount of loss declared in the Income Tax Return - Held that - This Court in the case of Commissioner of Income Tax I, Ahmedabad versus Gold Coin Health Food Private Limited 2008 (8) TMI 5 - SUPREME COURT has held that penalty can be levied even if no tax is payable on the total income assessed and the court has ....... + More

  • 2017 (4) TMI 669 - SUPREME COURT

    Commissioner of Income Tax Versus Shri. Rama Multi Tech Ltd.

    Nature of expenditure - interest and other expenditure incurred towards creation assets - revenue or capital expenditure - HC 2006 (2) TMI 677 - GUJARAT HIGH COURT confirms ITAT order in allowing expenditure claimed as followed the decision of the Gujarat High Court in the case of CIG v. Core Health Care (2001 (4) TMI 46 - GUJARAT High Court) - Held that - We find that this Court in the case of Deputy Commissioner of Income Tax, Ahmedabad v. Core....... + More

  • 2017 (4) TMI 668 - SUPREME COURT

    Union of India & Others Versus M/s. Infopark Kerala

    Entitlement for exemption under Section 10 (37) - payment of compensation on agreed terms in respect of the land acquired - Held that - This Court in the case of Balakrishnan v. Union of India & Ors. 2017 (3) TMI 745 - SUPREME COURT OF INDIA has held that even if the amount of compensation is paid on agreed terms it would not change the character of the acquisition from that of compulsory acquisition to the voluntary sale and the exemption pr....... + More

  • 2017 (4) TMI 531 - SUPREME COURT

    Mohan Steels Ltd Versus Commissioner of Income Tax II, Kanpur

    Levy of penalty u/s 271 (1)(c) - Effect of amendment to clause 3 (iii) and Explanation 4 to section 271(1)(c) - Held that - HC order confirmed 2016 (10) TMI 779 - ALLAHABAD HIGH COURT . Explanation 4 to section 271(1)(c) of the Act is clarificatory and not substantive and would apply even to assessment year prior to April 1, 2003, the date on which the amendment was brought into force........ + More

  • 2017 (4) TMI 474 - SUPREME COURT

    Sagun Construction Pvt. Ltd. Versus Income Tax Officer, Ward 4 (1) (1) , Ahmedabad

    Reopening of assessment - large scale allotment of shares to bogus entities - failure to produce share application form details of shares allotted to the so called share holders and proof of attendance of Annual General Board Meeting of the said so called share holders - Supreme Court dismissed the SLP as withdrawn against the decision of High Court 2016 (6) TMI 899 - GUJARAT HIGH COURT ....... + More

  • 2017 (4) TMI 304 - SUPREME COURT

    M/s. Veejay Marketing Versus Dy. Commnr. of Income Tax, Coimbatore

    Commission considered for determining the deduction under section 80HHC - Held that - High Court following its earlier decision in the case of Commissioner of Income-Tax Vs. P.R. Prabhakar 2004 (5) TMI 26 - MADRAS High Court dismissed the appeal holding Tribunal is not right in law in holding that commission and brokerage for procuring export contracts for other exporters is exempt under section 80HHC on the ground that the same is export profits....... + More

  • 2017 (4) TMI 303 - SUPREME COURT

    Commissioner of Income Tax, Ajmer Versus Sunita Mansingha

    Valuation - reference to the Departmental Valuation Officer - Local Public Works Department rates applied - Held that - From the order of the Tribunal we find that the Tribunal has even though held that the reference to the Departmental Valuation Officer in question is not valid, in view of the decision of this Court in the Case of Amiya Bala Paul v. CIT (2003 (7) TMI 4 - SUPREME Court) but it has also held that it is s settled principle of law t....... + More

  • 2017 (4) TMI 302 - SUPREME COURT

    Commnr. of Income Tax, Madurai Versus M/s. Annamalaiar Mills

    Liability to pay tax for capital gains - Held that - It is not in dispute that M/s Annamalaiar Textiles (P) Ltd. did not pay any amount to the shareholders who ultimately got the shares transferred in their names. The respondent was holding 100 per cent shares of M/s Annamalaiar Textiles (P) Ltd., before it was transferred to Group B. No payment was made to the shareholders belonging to Group B and, therefore, the question of there being any capi....... + More

  • 2017 (4) TMI 301 - SUPREME COURT

    Commissioner of Income Tax, Gujarat Versus Sarangpur Cotton Mfg. Company Ltd.

    Entitlement to deduction on account of revenue expenditure incurred on machineries replaced - Held that - Each items for which deduction under the head current repairs was sought is a machine by itself and therefore deduction under Section 31(i) cannot be allowed. As in the case of Sarvana Spinning Mills (P) Ltd. 2007 (8) TMI 16 - SUPREME COURT OF INDIA held that if the current repairs relate to independent machines itself instead of repair of a ....... + More

  • 2017 (4) TMI 191 - SUPREME COURT OF INDIA

    Commissioner of Income-Tax Versus NTPC Ltd.

    Revision u/s 263 - Held that - We do not consider it necessary to go into the question whether at the relevant point of time the exercise of jurisdiction under section 263 of the Income-tax Act, 1961 by the Commissioner of Income-tax (Appeals) was justified in view of the fact that the subsequent events have clearly demonstrated that there has been no leakage of revenue and the matter has become academic. HC ref case 2014 (4) TMI 683 - DELHI HIGH....... + More

  • 2017 (4) TMI 58 - SUPREME COURT

    M/s. Dev Bhumi Industries Versus Commissioner of Income Tax And Others

    Forum for redressal of grievance - Held that - Public policy demands that a person has right to choose the forum for redressal of his grievance, but he cannot be permitted to choose two forums in respect of the same subject matter for the same relief. We are not inclined to interfere with the impugned order passed by the High Court 2016 (10) TMI 504 - HIMACHAL PRADESH HIGH COURT . SLP dismissed. ....... + More

  • 2017 (3) TMI 1531 - SUPREME COURT

    M/s Berger Paints India Ltd. Versus C.I.T., Delhi

    Deduction u/s 35D - whether premium collected by the appellant-Company on its subscribed share capital is capital employed in the business of the Company ? - Held that - The premium amount collected by the Company on its subscribed issued share capital is not and cannot be said to be the part of capital employed in the business of the Company for the purpose of Section 35D(3)(b) of the Act and hence the appellant-Company was rightly held not enti....... + More

  • 2017 (3) TMI 1530 - SUPREME COURT OF INDIA

    Maharashtra Industrial Development Corporation Versus Commissioner of Income Tax (Exemptions) And Ors

    Stay applications rejected - directed the appellant to deposit 15 per cent of the total tax demand - Held that - Without going into the merits of the matter, as the same is pending before the Commissioner of Income Tax (Appeals) in appeal filed by the appellant, we consider it proper and in the interest of justice to dispose of these appeals with the following directions - (1) The CIT (Appeals) is directed to decide the pending appeals filed by t....... + More


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