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Judgment Search Results Home > Search Phrase: income tax act 1961 section 80l Page 1 of about 184,671 results (0.682 seconds)

Jul 18 1996 (HC)

Mahendra Kumar Vs. Union of India (Uoi) and anr.

Court : Madhya Pradesh

Reported in : [1997]226ITR718(MP)

..... not suffer from any mens rea. since the assessee is not guilty of any concealment, penalty proceedings under section 271(1)(c) are absolutely unwarranted.6. in view of the above discussion, we uphold the validity of sub-section (3) of section 80l of the income-tax act, 1961, but, at the same time, we quash the proposal in the assessment order for initiating penalty proceedings ..... the taxation laws (amendment) act, 1984, whereby sub-section (3) of section 80l has been introduced with retrospective effect, i.e., april 1, 1976. the petitioner has also prayed that the assessment for the assessment year 1985-86 may be declared illegal. he has also prayed that the penalty proceedings initiated under section 271(1)(c) of the income-tax act, 1961,for imposition of penalty for ..... the said period of assessment should be quashed. the petitioner has also prayed for quashing the notices issued under section 148 of the act as illegal.2. the brief facts giving rise to this petition are that ..... the petitioner is an assessee. he was assessed to income-tax by respondent no. 2, .....

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Mar 04 1996 (HC)

Commissioner of Income-tax Vs. Venu Suresh Sheela Trust and Others

Court : Chennai

Reported in : [1998]233ITR99(Mad)

..... respect of six assessees for the assessment years 1973-74 to 1975-76 under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the assessee which is a private trust, with beneficiaries, whose shares are indeterminate, is eligible for relief under section 80l for the assessment years 1973-74 to 1975-76 ?' 2. the assessee is ..... the deductions to be provided under section 80l of the act as well. the charge of tax comes into play after the income has been determined in the manner stated above. in the present case, the trustee is an ..... the deductions provided under section 80l as well. accordingly, the tribunal confirmed the order passed by the appellate assistant commissioner. 4. a similar question came up for consideration before this court in citcitcit v. venu suresh sanjay trust : [1996]221itr649(mad) , wherein this court held (page 660) : 'the determination of total income depends on the various provisions of the income-tax act which takes into consideration .....

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Aug 03 1999 (HC)

Commissioner of Income-tax Vs. Smt. Mandakini M. Jog

Court : Mumbai

Reported in : [2000]241ITR6(Bom)

..... . by this reference under section 256(1) of theincome-tax act, 1961, the income-tax appellate tribunal has referred thefollowing questions of law to this court for opinion at the instance of therevenue : '1. whether, on the facts and circumstances of the case and in law, the tribunal was right in holding that the assessee was entitled to deduction under section 80l of the income-tax act in respect of the ..... interest income on fixed deposits with ..... business profits as well as proportionate share of interest income. in respect of the proportionate share of interest income, the assessee claimed deduction under section 80l of the income-tax act ('the act'), for the assessment years 1976-77 and 1978-79. 3. the income-tax officer disallowed the said claim. on appeal by the assessee, the appellate assistant commissioner of income-tax allowed the said deduction following the judgment of the .....

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Aug 14 1986 (HC)

Commissioner of Income-tax Vs. G.B.J. Seth and C.O.J. Seth

Court : Madhya Pradesh

Reported in : [1987]166ITR604(MP)

..... (1) of section 80l of the income-tax act, 1961 ?'2. the material facts giving rise to this reference, briefly, are as follows :the assessees are executors of the will of late shri r. c. jail and are ..... assessed in respect of the income of the estate of the deceased in the status of an association of persons. for the assessment year 1976-77, the assessee's claim ..... g.g. sohani, j.1. by this reference under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), the income-tax appellate tribunal, indore bench, has referred the following question of law to this court for its opinion :' whether, on the facts and in the circumstances of the case, the tribunal ..... is justified in holding that the assessees, who is an association of persons, is entitled to deduction as per clause (c) of sub-section .....

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Jul 30 1996 (HC)

Commissioner of Income Tax Vs. Sowmini Ramesh and anr.

Court : Chennai

Reported in : [1998]232ITR25(Mad)

..... tribunal was justified in adopting dual status, viz., as an 'individual' for the purpose of determination of the total income and as an aop for the purpose of levy of tax under s. 164(1) of the it actit actit act, 1961 ?' 2. the assessees are trusts assessed in the status of 'aop' by the ito. the assessees are private trusts created by deeds of ..... . 80l of the act. in view of the abovesaid decision of this court, we answer the questions referred to us in the affirmative and against ..... orders in the cases of the very same group of trusts, held that the assessees would be entitled to relief under s. 80l. 4. a similar question came up for consideration before this court in the case of citcitcit vs . venu suresh sanjay trust : [1996]221itr649(mad) , where it was held that the assessee-trust is entitled to benefit under s ..... (1) of the it actit actit act, 1961 : '1. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the assessee was entitled to deduction under s. 80l even while agreeing with the view taken by the department that the income computed in the assessee's case will be liable to tax under s. 164(1 .....

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Sep 13 1979 (HC)

Commissioner of Income-tax Vs. Smt. Shakuntala Banerjee

Court : Allahabad

Reported in : [1979]120ITR837(All)

..... , on the facts and in the circumstances of the case, the tribunal was correct in upholding the appellate assistant commissioner's order allowing relief to the assessee under sections 80l and 199 of the income-tax act, 1961 ? '2. sri pyare lal banerjee, an eminent advocate of this court, had created a trust, vesting government securities of the face value of rs. 10,00,000 in ..... the imperial bank of india, calcutta as trustee, and directing, inter alia, that the trustee, that is the imperial baak of india, should pay the net income of the trust ..... as claimed. the fact that the income was received by her as a beneficiary under the trust deed and not as the owner of those securities was irrelevant for purposes of granting relief under section 80l. coming now to the claim made for deduction of the tax paid at source, the matter is governed by section 199 of the act, the relevant part of which is ..... as under :'199. credit for tax deducted.--any deduction made in accordance with the provisions of sections 192 to 194, section 194a, section 194b, section 194c, 194d and section 195 and paid to the .....

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Jan 16 1996 (HC)

Commissioner of Income-tax Vs. Bhupendra Kumar Patel and ors.

Court : Madhya Pradesh

Reported in : [1996]220ITR203(MP)

..... reference called for by this court on application made by the revenue under section 256(2) of the income-tax act, 1961, from the tribunal and the tribunal has referred the following question of law for opinion of this court :'whether a partner is entitled to exemption under section 80l of the income-tax act in respect of interest earned by the firm on bank deposits held in ..... the assessees preferred an appeal before the appellate assistant commissioner, raipur, and the appellate assistant commissioner accepted the claim of the assessees and directed the income-tax officer to allow the deduction under section 80l of the income-tax act. against this, the applicant/revenue preferred an appeal before the tribunal and the tribunal dismissed the departmental appeal and upheld the order of the appellate ..... was referred for answer of this court.4. suffice it to say that in view of the amendment in sub-section (3) of section 80l of the income-tax act, the controversy has now come to an end. this amendment was brought by the taxation laws (amendment) act, 1984, and it was made with retrospective effect, i.e., from april 1, 1976. by this amendment ..... in the hands of the said partners. the said partners had claimed deduction under section 80l of the income-tax act for the part of the interest income from the bank which was included in the share income from the firm, but the said claim was rejected by the income-tax officer on the ground that the said partners were not owners of the bank deposits .....

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Mar 28 1993 (HC)

Commissioner of Income-tax Vs. Hussainbhai M. Badri

Court : Gujarat

Reported in : [1994]208ITR719(Guj)

..... j.1. the following question is referred to this court by the income-tax appellate tribunal under section 256(1) of the income tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the grant of relief under section 80l having exhausted the availability of deduction under section 86(v), the income-tax officer was not competent to rectify the mistake by passing an appropriate order ..... ?' 2. the income-tax officer competed the assessment of the assessee for the ..... for rectification of the said order on the ground that the income-tax officer had not allowed deduction worth rs. 944 under section 80l of the act, and that there was also a mistake in calculation in regard to rebate under section 86(v) amounting to rs. 1,167. the income-tax officer accepted the contention of the assessee and granted relief by ..... on september 12, 1974. he was of the view that as deduction was allowed under section 80l, no rebate of rs. 1,167 was admissible under section 86(v) of the act. the assessee gave his written submissions and objected to the proposed action. the income-tax officer, however, thought it fit to rectify the said order and withdrew the deduction allowed .....

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Feb 24 1998 (HC)

Commissioner of Income-tax Vs. S.M.M. Muthappa Chettiar and anr.

Court : Chennai

Reported in : [2000]241ITR751(Mad)

..... the taxable income in his individual assessment, and the assessee was a specified hindu undivided family. the ..... is concerned, it relates to the grant of deduction under section 80l of the act. the assessee is a hindu undivided family and one of its members sm. m. muthappa chettiar had certain malaysian income and the same was assessed in his individual status. the income-tax officer, denied the benefit of deduction under section 80l of the act, because the assessee had a member who had more than ..... of the case, the tribunal was right in law in holding that the assessee is entitled to deduction under section 80l of the act on the ground that the malaysian income in the case of sm. m. muthappa chettiar has been deleted from his total income and as a consequence the assessee ceased to be a specified hindu undivided family with a member having taxable ..... decision is that the assessee family cannot be said to have a member who is having an income exceeding the taxable limit and the assessee family cannot be regarded as a specified hindu undivided family disentitling it to claim the relief under section 80l of the act. we are of the view that the tribunal was correct in holding that the assessee was entitled .....

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Jan 23 2003 (HC)

Commissioner of Income Tax Vs. V.P. JaIn (Huf)

Court : Delhi

Reported in : (2003)184CTR(Del)273

..... of the revenue, the tribunal, new delhi, has referred, under section 256(1) of the it actit actit act, 1961, (for short the act), the mowing question for the opinion of this court :'whether, on the facts and in the circumstances of the case, the partner is entitled to exemption under section 80l of the it actit actit act in respect of interest earned by the firm on bank ..... bansal, learned senior standing counsel for the revenue.4. the issue raised by the revenue in the reference is as to whether a partner is entitled to exemption under section 80l of the act in respect of the interest, earned by the firm on certain deposits made by it with a bank.5. there has been a divergence of opinion on the issue ..... themadhya pradesh high court has taken a contrary view. it is, however,submitted by learned counsel for the revenue that in view of the insertion of sub-section 3 in section 80l by the taxation laws (amendment) act, 1984 withretrospective effect from 1st april, 1976, it is not necessary for us to examinethe issue in the light of the opinion expressed by various courts ..... . it is urgedthat in view of the said insertion, which has been made applicable withretrospective effect from 1st april, 1976, deduction under section 80l cannot beallowed to the partners of .....

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