Supreme Court of India

Rajasthan State Warehousing Corporation Vs. CIT – Supreme Court

Rajasthan State Warehousing Corporation Vs. CIT (Supreme Court of India)

Shri C.S. Vaidyanathan, Shri Ashok Desai, Shri V. Gauri Shankar, Dr. D.P. Pal, Shri Joseph Vellapally, Shri K.N. Shukla, Shri Pallav Shishodia, Shri A.P. Medh, Ms. Priya Hingorani, Shri B.K. Prasad, Shri S.N. Terdol, Shri S. Rajappa, Ms. Hemantika Wahi, Shri N.L. Garg, Shri C.V. Subba Rao, Shri Ranbir Chandra, Ms. Sumita Hazarika, Shri S....

Read More

Beneficial ownership is relevant than legal ownership to claim depreciation – SC

Mysore Minerals Ltd. Vs Commissioner of Income-tax (Supreme Court of India)

The appellant-assessee is a private limited company. During the assessment year 1981-82 (accounting year ending on March 31, 1981), the assessee had purchased for the use of its staff seven low income group houses from the Housing Board. The assessee had made part payments and was in turn made allotment of the houses followed by delivery ...

Read More

Rainbow Colour Lab & Anr Vs. State Of Madhya Pradesh & Ors -Supreme Court

M/S. Rainbow Colour Lab & Anr vs The State Of Madhya Pradesh & Ors (Supreme Court of India)

Common questions involved in these appeals are whether the job rendered by a photographer in taking photographs, developing and printing films would amount to a works contract as contemplated under Article 366(2A)(b) of the Constitution read with Section 2(n) of the M.P.General Sales Tax for the purpose of levy of sales tax on business tu...

Read More

S.195 TDS is deductible only on Taxable Portion

Transmission Corporation Of A.P. Ltd. And Anr. Vs. Commissioner Of Income Tax, A.P. (Supreme Court of India)

Answers given by the High Court that (i) the assessee who made the payments to the three non-residents was under obligation to deduct tax at source under Section 195 of the Act in respect of the sums paid to them under the contracts entered into; and (ii) the obligation of the respondent-assessee to deduct tax under Section 195 is limited...

Read More

Reference to document outside the record & law impermissible when applying provision of section 154

Commissioner Of Income Tax Vs Keshri Metal Pvt. Ltd. (Supreme Court of India)

CIT V Keshri Metal Pvt Ltd. (1999) 237 ITR 165 SC- Under the provisions of Section 154 there has to be a mistake apparent from the record. In other words, a look at the record must show there has been an error, and that error may be rectified. Learned counsel for the revenue has not been able to satisfy us that it shows any apparent error...

Read More

Mere Lapse of litigant not enough to not to condone delay in filing of Appeal

N.Balakrishnan vs. M.Krishnamurthy (Supreme Court of India)

It must be remembered that in every case of delay there can be some lapse on the part of the litigant concerned. That alone is not enough to turn down his plea and to shut the door against him. If the explanation does not smack of mala fides or it is not put forth as part of a dilatory strategy the court must show utmost consideration to ...

Read More

Southern Switchgears Ltd. v. CIT (Supreme Court) 1998 232 ITR 359

Southern Switch Gear Ltd Vs CIT And Another (Supreme Court of India)

Civil Appeals Nos 6082, 6083, 6084, 6085 and 6086 of 1990 and 5516 of 1997 (Appeals from the judgment and order dated March 29, 1983 of the Madras High Court in Tax Cases Nos 1065-69 of 1977 and 1070-74 of 1977),...

Read More

National Rayon Corporation Vs. Commissioner of Income Tax (1997) 227 ITR 764 (SC)

National Rayon Corporation Ltd. Vs. The Commissioner Of Income Tax (Supreme Court of India)

SEN, J. The point that falls for determination in this case is whether a sum of Rs. 79 lakhs representing Debenture Redemption Reserve was includible in computing the capital of the assessee Company for the purpose of Companies (Profits) Surtax Act, 1964. The High Court took the view that the amount set apart to redeem the debentures ha...

Read More

Madras Industrial Investment Corporation Ltd. Vs. CIT – Supreme Court

Madras Industrial Investment Corporation Ltd Vs Commissioner Of Income Tax,Tamil Nadu I, Madras (Supreme Court of India)

Since the entire liability to pay the discount had been incurred in the accounting year in question, the assessee was entitled to deduct the entire amount of Rs 3,00,000 in that accounting year This conclusion does not appear to be justified looking to the nature of the liability It is true that the liability has been incurred in the acco...

Read More

Aditanar Educational Institution vs Addl.Commissioner of Income Tax (1997) 3 SCC 346

Aditanar Educational Institution Vs. Additional Commissioner Of Income-Tax (Supreme Court of India)

Dismissing the appeal filled by the Revenue and the cross appeal of the assessee, this Court HELD : 1.1. An educational society or Trust or other similar body running an educational institution solely for educational purposes and not for purposes of profits could be regarded as `other educational institution' coming within Section 10(22) ...

Read More

Browse All Categories

CA, CS, CMA (4,680)
Company Law (5,954)
Custom Duty (7,737)
DGFT (4,218)
Excise Duty (4,361)
Fema / RBI (4,181)
Finance (4,380)
Income Tax (32,986)
SEBI (3,450)
Service Tax (3,553)