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Judgment Search Results Home > Search Phrase: income tax act 1961 section 44ae Court: karnataka Page 1 of about 9,914 results (0.272 seconds)

Sep 19 2006 (HC)

United India Insurance Co. Ltd. Vs. Bhagyalakshmi and ors.

Court : Karnataka

Reported in : 2007ACJ1676

..... under sections 142(1) and 143(2) and served on the assessee's gpa holder m.l. ravi, who in response to ..... lorries, nor had he declared his income at rs. 30,00,000 per month. he also stated that he has no personal knowledge about the ..... . 3 and the son of the deceased. said assessment order would further disclose that a return of income was filed on 29.3.1996 for the assessment year 1993-94 by late m.n. lingappa, in response to the notice issued under section 148 (sic of income tax act, 1961) and that since it was a belated return, the same was lodged and notices were issued ..... of the deceased, it is only ravi, claimant no. 3, who was an income tax assessee and not the deceased. he has in fact produced the file pertaining to ravi, claimant no. 3. according to him, the deceased had declared only 8 lorries under section 44-ae (sic of income tax act, 1961). he has stated that the deceased had never declared that he is having 100 .....

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Feb 22 2002 (HC)

Mangilal S. JaIn Vs. Commissioner of Income-tax and anr.

Court : Karnataka

Reported in : ILR2003KAR2066; [2002]257ITR31(KAR); [2002]257ITR31(Karn)

1. the petitioner is an assessee under the income-tax act, 1961 (the 'i. t. act' for short). for the assessment year 1995-96 (accounting period ended on march 31, 1995), the appellant filed his return on march 26, 1997, declaring a total income of rs. 2,59,030. his return was processed under section 143(1)(a) on september 27, 1997. as it was a survey case ..... provisions of section 89 in respect of tax arrear, then, notwithstanding anything contained in any direct tax enactment or indirect tax enactment or any other provision of any law for the time being in force, the amount payable under this scheme by the declarant shall be determined at the rates specified hereunder, namely : -- (a) where the tax arrear is payable under the income-tax act, 1961 (43 of 1961),-- (i ..... regard to declarations validly falling under the kvs scheme. the normal rule that payments will first be adjusted towards interest and then towards principal (income-tax), based on the explanation to section 140a(1) of the income-tax act and general law, willbe inapplicable to matters covered by the kvs scheme. the learned single judge has lost sight of the above aspects and has wrongly ..... proceeded as if the explanation to section 140a(1) of the income-tax act is applicable to the kvs scheme.21. in view of the above, we allow this appeal as follows :(i) we set aside the order dated june 28, .....

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Mar 21 1966 (HC)

Visalakshi Vs. Income-tax Officer, City Circle Ii, Bangalore and ors.

Court : Karnataka

Reported in : [1968]67ITR150(KAR); [1968]67ITR150(Karn)

..... surcharge. 23. further sustenance for this contention was sought to be derived from the interpretation placed upon section 29 of the income-tax act, 1922(xi of 1922), which corresponds to section 156 of the income-tax act 1961 (43 of 1961). on the foundation that these sections authorise a notice of demand when any tax, interest, penalty or fine or the like is payable in consequence of an order of assessment ..... , according to mr. srinivasan, the same meaning which it has received under the income-tax act. it was said that the word 'payable' in section 2(2) of the income-tax act, 1922 (xi of 1922), before that sub-section was amended in the year 1953 and which is also in section 156 of the income-tax act, 1961, has been understood by the courts in a particular way, and that the meaning ..... the deposit by june 30, 1964. 60. under the first proviso, the deposit has to be made either within thirty days of the service of notice of demand under section 156 of the income-tax act, 1961, or by june 30, 1964, whichever is earlier. so, if the period of thirty days after the service of the notice of demand expired before june 30, 1964 ..... deposit in respect of the assessment year commencing on april 1, 1963, could be made within thirty days of the service of the notice of demand referred to in section 156 of the income-tax act, 1961, for that year, or by march 31,1964, whichever date was earlier, for march 31, 1964, specified in this proviso, june 30, 1964, weak later substituted. 8. the .....

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Aug 01 1991 (HC)

Commissioner of Wealth-tax Vs. G.E. Narayana and Others

Court : Karnataka

Reported in : [1992]193ITR41(KAR); [1992]193ITR41(Karn)

..... under the income-tax act also, the hindu undivided family is a person assessable to tax. there were almost similar situations which arose under the provisions of the indian income-tax act, 1922, as well as under the present income-tax act, 1961, in connection with the assessment of the hindu undivided family. one such situation resulted in the enactment of section 25a in the earlier income-tax act, 1922. ..... the said provision was enacted to get over the difficulty caused when a hindu undivided family had received income in the ..... language is substantially similar in its structure to section 4 of this income-tax act whereunder income-tax shall be charged in respect of the total income of the previous year of every person. under the income-tax act, the tax is connected with and related to the total income of every person. similarly, under the wealth-tax act the tax is in respect of the net wealth which ..... only two members constituting a hindu undivided family; one of them died; consequently, the hindu undivided family ceased to exist. the question was whether section 171(1) of the income-tax act could be applied to make as order of assessment assessing the erstwhile hindu undivided family. the madras high court pointed out that there was no .....

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Oct 20 2008 (HC)

Commissioner of Income-tax and anr. Vs. D. Ananda Basappa

Court : Karnataka

Reported in : (2009)223CTR(Kar)186; [2009]309ITR329(KAR); [2009]309ITR329(Karn); [2009]180TAXMAN4(Kar)

..... view the future needs in event of separation, purchase more than one residential building;, it cannot be said that the benefit of exemption is to be denied under section 54(1) of the income-tax act.8. on facts, it is shown by the assessee that the apartments are situated side by side. the builder has also stated that he has effected modification of ..... the same day. the vendor has certified that he has effected necessary modifications to the two flats to make it one residential apartment. the assessee sought for exemption under section 54 of the income-tax act.2. the assessing authority gave exemption for capital gains to the extent of purchase of one residential flat. it was found in the inspection by the inspector that ..... understood in a sense that building should be of residential in nature and 'a' should not be understood to indicate a singular number. the combined reading of sections 54(1) and 54f of the income-tax act discloses that, a non residential building can be sold, the capital gain of which can be invested in a residential building to seek exemption of capital gain ..... the previous year in which the transfer took place, it shall be dealt with in accordance with the following provisions of this section', that is to say,-5. a plain reading of the provision of section 54(1) of the income-tax act discloses that when an individual-assesses or hindu undivided family-assesses sells a residential building or lands appurtenant thereto, he can invest .....

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Aug 13 1962 (HC)

G. Padmanabhappa Vs. Excess Profits Tax Officer, Bellary

Court : Karnataka

Reported in : [1963]49ITR763(KAR); [1963]49ITR763(Karn)

..... are barred. the view taken in the several decided cases is that merely because no steps can be taken under section 46(2) of the indian income-tax act, the right of the department to recover the tax due otherwise is not taken away. 4. section 46(7) as it stood prior to its amendment in 1953 read as follows : 'save in accordance with the provisions ..... under section 46(2) of the indian income-tax act, 1922, read with rule 3 of the excess profits tax rules, 1940, is now barred. the question is ..... . the inspecting assistant commissioner extended time on september 3, 1948, for the payment of the tax levied till the disposal of the appeal. the appeal was disposed of in 1957. a certificate under section 46(2) of the indian income-tax act, read with rule 3 of the excess profits tax rules, 1940, was issued on march 23, 1950. 2. it is contended that any action ..... of sub-section (1) of section 42, or of the proviso to section 45 no proceedings for the recovery of any sum payable under .....

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Feb 22 2002 (HC)

Mangilal S. JaIn Vs. Cit and anr.

Court : Karnataka

Reported in : (2002)175CTR(Kar)347

by the courtpetitioner is an assessee under the income tax act, 1961 (hereinafter referred to as 'the act'). for the assessment year 1995-96 (accounting period ended 31-3-1995), the appellant filed his return on 26-3-1997, declaring a total income of rs. 2,59,030. his return was processed under section 143(1)(a) on 27-9-1997. as it was a survey case, a ..... of section 89 in respect of tax arrear, then, not withstanding anything contained in any direct tax enactment or indirect tax enactment or any other provision of any law for the time being in force, the amount payable under this scheme by the declarant shall be determined at the rates specified hereunder, namely :(a) where the tax arrear is payable under the income tax act, 1961 (43 of 1961),(i ..... regard to declarations validly falling under the kvs scheme. the normal rule that payments will first be adjusted towards interest and then towards principal (income-tax), based on the explanation to section 140a(1) of income tax act and general law, will be inapplicable to matters covered by the kvs scheme. the learned single judge has lost sight of the above aspects and has wrongly proceeded ..... as if the explanation to section 140a(1) of income tax act is applicable to kvs scheme.15. in view of above, we allow this appeal as follows :(i) we set aside the order, dated 28-6-1999, passed by .....

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Apr 16 1999 (HC)

Commissioner of Income-tax Vs. Prana Carriers (P) Ltd. and ors.

Court : Karnataka

Reported in : (1999)154CTR(Kar)435

..... case, the tribunal was right in law in holding that the 'loss' as it appears in s. 205(1), first proviso, cl. (b), of the companies act, 1956, r/w s. 115j of the income tax act, 1961, means excluding depreciation ?(2) whether, on the facts and in the circumstances of the case, the interpretation of the word 'loss' sought to be put on s ..... which means that though total income of the company is not acceptable in the normal ..... arises for consideration iswhether the computation of the income of an assesses company has to be made as per the provisions of the companies act to determine the loss (as in s. 205 of the companies act) has been incorporated into expin. (iv) of s. 115j of the income tax act or as per the provisions of the income tax act ?25. sec. 115j begins with the non obstante clause ..... the profits.17. now, we have to consider what is the meaning of the word 'loss'. whether 'loss' includes depreciation or, loss and depreciation are two separate distinct terms.18. sec. 32 of the income tax act provides for set off of depreciation resulted in the previous year in a relevant year against the profits to arrive at the .....

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Apr 11 2000 (HC)

L. Sohanraj and ors. Vs. Deputy Commissioner of Income-tax and anr. (N ...

Court : Karnataka

Reported in : (2003)179CTR(Kar)107; [2003]260ITR147(KAR); [2003]260ITR147(Karn)

..... introduce sections 260a and 260b to provide for an appeal to the high court against the orders made by the ..... being of the view that there are certain mistakes, which are apparent on the face of the record/order made by the tribunal, had filed common petitions under section 254(2) of the income-tax act, inter alia, seeking rectification of the mistake apparent on the face of the record and those miscellaneous petitions are rejected by the tribunal by its common order dated ..... remedy by way of an appeal under section 260a of the act. in support of this contention, learned counsel draws my attention to certain observations made by the apex court in the cases of c. a. abraham v. ito : [1961]41itr425(sc) and champalal binani v. citcitcit : [1970]76itr692(sc) .5. in chapter xx of the income-tax act, the legislature has thought it fit to ..... income-tax appellate tribunal, if the high court is satisfied that the case involves a substantial question of law. the objects .....

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Sep 09 1969 (HC)

M.M. Annaiah Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Reported in : [1970]76ITR582(KAR); [1970]76ITR582(Karn)

..... chamber of commerce, the matter has been reconsidered by the board in consultation with the ministry of law. under section 271(1)(a)(i) of the income-tax act 1961, the penalty is to be 2% of the tax, if any, payable by the assessee. section 219 of the income-tax act, 1961, makes it clear that any sum other than penalty or interest, paid by or recovered from the assessee ..... income for the assessment year 1964-65, on or before the 15th of october, 1964. on october 13, 1964, the assessee asked for ..... as advance tax in pursuance of chapter xvii shall be treated as payment of tax respect of the income of the period which would ..... )(a)(i) shall be with reference to the gross tax as reduced by the advance tax and self-assessment-tax under section 140a and remaining due and payable due and payable, at the date of final assessment ?' 2. the assessee by notice dated march 6, 1964, issued under section 139(2) of the income-tax act, 1961 (hereinafter referred to as 'the act') was required to file his return of .....

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