Supreme Court Of India Archives

S.C : The expenditure cannot be considered as business expenditure

Supreme Court Of India Pr.CIT vs. Ballarpur Industries Ltd. Asst. Year 1993-94 Abhay Manohar Sapre & Dinesh Maheshwari, JJ. Civil Appeal No. 4026 OF 2019 (Arising out of S.L.P.(C) No.1153 of 2018) 22nd April, 2019 Abhay Manohar Sapre, J. Leave granted. This appeal is filed against the final judgment and order dated 17.07.2017 passed by the …

S.C : The Tribunal came to the conclusion that prior to the insertion of the expression “suo motu” with effect from 1 April 2008 in Section 142(2C), the assessing officer had no jurisdiction to extend time for the submission of the report of an auditor appointed under sub section (2A)

Supreme Court Of India CIT vs. Ram Kishan Dass Section 142(2A), 142(2C) Dr. Dhananjaya Y. Chandrachud & Hemant Gupta, JJ. Civil Appeal No 3211 of 2019 (Arising out of SLP (C) No 2810 of 2012) WITH Civil Appeal No(s). 3214, 3212, 3213, 3228 26th March, 2019 DR. DHANANJAYA Y CHANDRACHUD, J. Leave granted in the Special …

S.C : The respondent-assesse (Bank) was entitled to claim deduction under Section 35-D

Supreme Court Of India Pr.CIT vs. Yes Bank Ltd. Section 260A, 35D Asst. Year 2007-2008 Abhay Manohar Sapre & Dinesh Maheshwari, JJ. Civil Appeal No. 3148 OF 2019 (Arising out of S.L.P.(C) No.7118 of 2018) 15th March, 2019 Abhay Manohar Sapre, J. 1. Leave granted. 2. This appeal is filed against the final judgment and order …

S.C : Whether Section 234-B applies to proceedings of the Settlement Commission under Chapter XIX-A of the said Act?

Supreme Court Of India Kakadia Builders Pvt. Ltd. & Anr. vs. ITO & Anr. Section 234A, 234B, 234C Abhay Manohar Sapre & Dinesh Maheshwari, JJ. Civil Appeal Nos.2491-2492 OF 2019 (Arising out of S.L.P.(C) Nos.21139-21140 of 2017) 5th March, 2019 Abhay Manohar Sapre, J. Leave granted. These appeals are directed against the final judgment and order …

S.C : Share Capital/Premium is credited in the books of account of the Assessee company, the onus of proof is on the assessee to establish by cogent and reliable evidence of the identity of the investor companies, the creditworthiness of the investors, and genuineness of the transaction, to the satisfaction of the Assessing Officer

Supreme Court Of India Pr.CIT (Central) vs. NRA Iron &Steel Pvt. Ltd. Section 68 Uday Umesh Lalit & Indu Malhotra, JJ. Civil Appeal No. 002463-002463/2019 (Arising out of SLP (Civil) No. 29855 of 2018) 5th March, 2019 INDU MALHOTRA, J. Leave granted. The present appeal arises out of the Judgment and Order dated 26.02 2018 passed …

S.C : Whether any amount of sugarcane purchase price paid by the assessee-society to its members/non-members above the SMP determined under Clause 3 of the Control Order, 1966, may be paid as per the price determined by the State Government under Clause 5A of the Control Order, 1966, can be said to be the sharing of profit and therefore is to be included in the return of income?

Supreme Court Of India CIT vs. Tasgaon Taluka S.S.K. Ltd. Section 40A(3) Asst. Year 1998-99 A. K. Sikri, S. Abdul Nazeer & M.R. Shah, JJ. Civil Appeal No. 8890 OF 2012, 2485 OF 2019, 2484 OF 2019, 2482 OF 2019, 2483OF 2019, 2486 OF 2019 5th March, 2019 M. R. SHAH, J. Leave granted in all …

S.C : The assessee was not entitled to deduction under Section 80-HH of the Income Tax Act, 1961 on the gross profit of Rs.34,30,035 (Liquid Section) but on the net income 3 therefrom for Assessment Year 1979-80

Supreme Court Of India Vijay Industries vs. CIT Section 80HH, 80AB and CBDT Circular No. 281. Asst. Year 1979-80 & 1980-81 A. K. Sikri, & S. Abdul Nazeer & M. R. Shah, JJ. CIVIL APPEAL NOS. 1581-1582 OF 2005, 2878 OF 2015, 2877 OF 2015, 2416-2417 OF 2019, 2420-2421 OF 2019, 2414-2415 OF 2019, 2418-2419 OF …

S.C : The Revenue arises out of the income tax proceedings initiated against the respondent(assessee) on the basis of a search operation which was carried out by the Income Tax Department in assessee’s premises

Supreme Court Of India CIT vs. Rashtradoot (HUF) Section 260A Asst. Year 1987-88 to 1996-97 & 1997-98 Abhay Manohar Sapre & Dinesh Maheshwari, JJ. CIVIL APPEAL No. 2362 OF 2019 (Arising out of S.L.P.(C) No.20075 of 2017) 27th February, 2019 ABHAY MANOHAR SAPRE, J. Leave granted. This appeal is filed against the final judgment and order …

S.C : Whether on the facts and circumstances of the case, the Appellate Tribunal was right in law and on facts in deleting the addition made u/s 43B of the Income Tax Act, 1961 on conversion of upaid interest into a funded interest loan treating the same as interest payment?

Supreme Court Of India CIT vs. Gujarat Cyrpomet Ltd. Ashok Bhushan & K.M. Joseph, JJ. Civil Appeal No(s). 5347/2010 21st February, 2019 Counsel Appeared: Sanjay Jain, ASG, Rupesh Kumar, Arjun Garg, Devansh Srivastava, Yuvraj Sharma, Saniya Scott, Anil Katiyar, Advs., B.V. Balaram Das, AOR for the Petitioner. ORDER The appeal is allowed in terms of the …

S.C : Whether an assessee who sets up a new industry of a kind mentioned in sub-section (2) of Section 80-IC of the Act and starts availing exemption of 100 per cent tax under subsection (3) of Section 80-IC (which is admissible for five years) can start claiming the exemption at the same rate of 100% beyond the period of five years on the ground that the assessee has now carried out substantial expansion in its manufacturing unit?

Supreme Court Of India Pr.CIT vs. Aarham Softronics Section 80-IC, 80-IC(3) A.K. Sikri, S. Abdul Nazeer, M.R. Shah, JJ. Civil Appeal No(s). 1784 of 2019 (SLP (C) NO. 23172 of 2018) WITH, CA No.1785 of 2019 (SLP (C) NO. 23176 of 2018), CA No.1786 of 2019 20th February, 2019 A.K. SIKRI, J. SLP(C) Nos. 23172 of …

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S.C : The expenditure cannot be considered as business expenditure

S.C : The Tribunal came to the conclusion that prior to the insertion of the expression “suo motu” with effect from 1 April 2008 in Section 142(2C), the assessing officer had no jurisdiction to extend time for the submission of the report of an auditor appointed under sub section (2A)

S.C : The respondent-assesse (Bank) was entitled to claim deduction under Section 35-D

S.C : Whether Section 234-B applies to proceedings of the Settlement Commission under Chapter XIX-A of the said Act?

S.C : The assessee was not entitled to deduction under Section 80-HH of the Income Tax Act, 1961 on the gross profit of Rs.34,30,035 (Liquid Section) but on the net income 3 therefrom for Assessment Year 1979-80

S.C : The Revenue arises out of the income tax proceedings initiated against the respondent(assessee) on the basis of a search operation which was carried out by the Income Tax Department in assessee’s premises

S.C : Whether on the facts and circumstances of the case, the Appellate Tribunal was right in law and on facts in deleting the addition made u/s 43B of the Income Tax Act, 1961 on conversion of upaid interest into a funded interest loan treating the same as interest payment?