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1 - 10 of 10 (0.29 seconds)The Motor Vehicles Act, 1988
Commissioner Of Income Tax, Hyderabad vs M/S. Motor And General Stores (P.) Ltd on 2 May, 1967
Commissioner Of Income-Tax, Gujarat vs M/S. B.M. Kharwar on 13 August, 1968
In that case, the departmental ,authorities attempted to displace the legal effect of the lease document by probing into the substance of the transaction, which was prohibited by the judgment of the Supreme Court in the case of B.M. Kharwar (supra). No evidence had been found in that case by the income-tax authorities, as had happened in the present case, to show that the real intention of the parties was to lend monies for interest. The departmental authorities in that case tried to read and interpret the lease document in favour of their stand that it was a money-lending transaction in substance. The Tribunal did not approve of the attempt. In the present case, on the other hand, there is evidence to show (which we have adverted to) that the real intention of the parties was to lend and borrow monies for interest. Thus, the aforesaid order is not applicable to the present case. The other authorities cited on behalf of the assessee (in the index of case law) have been perused by us. They turned on different facts. It is a question of intention of the parties and whether the document on the basis of which the claim is made before the income-tax authorities reflects the true intention of the parties.
Commissioner Of Income Tax, Karnataka, ... vs M/S. Shaan Finance (P) Ltd., Bangalore on 20 March, 1998
In his view of the matter, even the judgment of the Supreme Court in the case of CIT v. Shaan Finance (P.) Ltd. is not applicable.
Brooke Bond India Limited vs Commissioner Of Income Tax,West ... on 27 February, 1997
In the appeal filed by the department arising from the assessment made under Section 143(3), we have restored the disallowance of Rs. 94,22,217 following the judgments of the Suprerne court in the case of Brooke Bond India Ltd. (supra) and Punjab State Industrial Development Corporation Ltd. (supra). The ground taken in this appeal is consequential to our decision in the appeal arising out of the assessment order. Accordingly, we set aside the order of the Commissioner (Appeals), and restore the order passed by the assessing officer under Section 154. The appeal is allowed.
Section 32 in The Motor Vehicles Act, 1988 [Entire Act]
Punjab State Industrial Development ... vs Commissioner Of Income Tax, Patiala on 4 December, 1996
In the appeal filed by the department arising from the assessment made under Section 143(3), we have restored the disallowance of Rs. 94,22,217 following the judgments of the Suprerne court in the case of Brooke Bond India Ltd. (supra) and Punjab State Industrial Development Corporation Ltd. (supra). The ground taken in this appeal is consequential to our decision in the appeal arising out of the assessment order. Accordingly, we set aside the order of the Commissioner (Appeals), and restore the order passed by the assessing officer under Section 154. The appeal is allowed.
The Bank Of Chettinad, Limited vs The Commissioner Of Income-Tax on 2 June, 1940
(i) Bank of Chettinad Ltd. v. CIT (1940) 8 ITR 522 (Privy Council);
Dy Cit vs Soni Capital Markets Ltd. on 16 March, 2004
9. in the order of the Mumbai Bench of the Tribunal in the case of Soni Capital Markets Ltd. (supra) authored by one of us (the Vice President), there was no evidence to show that the real intention of the parties was to treat it as a money lending transaction.
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