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1 - 10 of 94 (0.48 seconds)Suzlon Energy Limited, Ahmedabad vs The Dcit.,Circle-8,, Ahmedabad on 22 December, 2017
As against "Investments" of Rs.2652.4 crore, assessee has interest
free funds of Rs.2928.17 crore/- as at 31.03.2016 i.e. almost 1.1
times of the advances (Pg.55 of CIT(A)'s order). The said fact is not in
dispute. The CIT(A)'s contention that some of the reserves do not
generate cash and hence cannot be considered as available for making
investments is contrary to judicial pronouncements on the subject as
no such condition has been laid down in those decisions.
Section 115JB in The Income Tax Act, 1961 [Entire Act]
Finance Act, 2012
Section 32 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Pr. Commissioner Of Income Tax ... vs M/S Era Infrastructure (India) Ltd. on 20 July, 2022
The learned Tribunal took note of
the decision of the High Court of Delhi in Era Infrastructure
(India) Ltd. (supra), which had taken note of the decision
in the case of Cheminvest Ltd. (supra), wherein it was
held that amendment by the Finance Act, 2022 of
Section 14 A of the Act by inserting a non-obstante
clause and explanation we take effect from 01.04.22
and cannot be presumed to have retrospective effect
and, therefore, on facts the amendment cannot be
applied to the assessment year under consideration.
We find no error in such conclusion arrived at by the
learned Tribunal. Accordingly, substantial questions
of law No. D & E are decided against the revenue."
Section 5 in The Income Tax Act, 1961 [Entire Act]
Section 14 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax vs M/S. Smifs Securities Ltd. (Presently ... on 9 June, 2010
32.6 On perusal of the above provisions, we note that the word
goodwill has nowhere been mentioned. However we note that, the
Hon'ble Supreme Court in the case of Smifs Securities Ltd. (supra)
reported in 348 ITR 302 has held that the goodwill falls within the
definition of the assets under the category of any other business or
commercial rights of similar nature. The relevant extract reads as
under: