Judgment Search Results Home Phrase:income tax act 1961 section 91 Court:kerala
Court : Kerala
Reported in : (2006)200CTR(Ker)585; 282ITR362(Ker)
..... by the petitioner under kar vivad samadhan scheme, 1998 for the asst. yrs. 1990-91, 1991-92 and 1992-93. according to the petitioner, first respondent issued ext. p7 under section 90(2) r/w section 91 of the finance (no. 2) act, 1998, demanding a total amount of rs. 3,31,120 which was paid by ..... the petitioner in full and final settlement of liability for the three asst. yrs. 1990-91, 1991-92 and 1992-93. the petitioner' ..... demand under the scheme for the year 1993-94 also calls for correction. since apparent or patent mistakes can be corrected by virtue of section 154 of the it actit actit act even in proceedings issued under the kvss as approved by the supreme court in the very same decision cited above, i uphold the ..... payable was only for the asst. yrs. 1990-91, 1991-92 and 1992-93 as, according to the petitioner, there was demand of tax only for the year .1993-94. however, strangely it is seen from ext. p7 that the department has not recognised any demand of income-tax due as on 31st march, 1998 for the ..... demand of interest under section 220(2) under ext. pll(a) for the years 1990-91 and 1991-92. so far as 1993-94 is concerned, in view of the controversy as to whether there was tax .....Tag this Judgment!
Court : Kerala
Reported in : 230ITR686(Ker)
..... circumstances of the case, the assessee is entitled to be treated as a registered firm under the income-tax act ?'2. the relevant facts are as follows : the assessee, a partnership firm, was refused registration under section 185(1)(a) of the income-tax act, 1961, for the assessment year 1990-91 by the assessing authority, who found that the firm was carrying on abkari business in violation of ..... the provisions of the kerala abkari act. a licence issued under the provisions of the kerala abkari act was in the name of one of the ..... 6(22) of the rules. it was also held that such a contract of partnership is void under section 23 of the contract act and a void contract of partnership cannot be recognised as a genuine partnership for the purpose of the income-tax act, 1961.4. learned counsel for the assessee contended that the above decision has no application in the facts of the ..... assets, namely, shares of limited companies, into the partnership firm as his contribution to his capital, there was a transfer of a capital asset within the meaning of section 45 of the income-tax act. the exclusive interest of the partner in the individual asset before he enters the partnership is reduced on such entry into a shared interest. this would also support .....Tag this Judgment!
Court : Kerala
Reported in : 235ITR236(Ker)
..... a writ of certiorari quashing exhibits p-4 and p-6 notices issued by the second respondent, the tax recovery officer. exhibit p-4 is a notice issued under sections 222 and 223 of the income-tax act, 1961, demanding a sum of rs. 5,91,829 being arrears of income-tax due from wynad financing corporation. exhibit p-6 is a further communication issued by the second respondent ..... since the petitioner is not a partner of the firm, which is now defunct, the second respondent has no authority to proceed against the petitioner for recovery of arrears of income-tax due from the defunct firm proposed in exhibits p-4 and p-6 notices.2. i have heard sri p. k. r. menon, learned senior central government standing counsel on ..... the respondents. learned senior counsel submitted that the firm, wynad financing corporation, has filed an application before the settlement commission (it and wt), additional bench, madras, for settlement of its tax liabilities and exhibit p-2 is the proceedings of the said commission. learned counsel further submitted that in the proceedings before the settlement commission the petitioner along with the advocate .....Tag this Judgment!
Court : Kerala
Reported in : (2002)172CTR(Ker)384; 252ITR661(Ker)
p.k. balasubramanyan, j.1. this appeal filed by the commissioner of income-tax under section 260a of the income-tax act, 1961, relates to the assessment year 1990-91 covered by the appeal i.t.a. no. 451 (coch) of 1995 on the file of the income-tax appellate tribunal, cochin bench. the appeal was admitted on the following substantial question of law :'whether, on the facts and in the ..... circumstances of the case, the asses-see is entitled to investment allowance under section 32a ..... hearing counsel, we find that the substantial question of law formulated requires to be reframed. there was no dispute before the authorities or the tribunal regarding the investment allowance under section 32a of the income-tax act on the plant and machinery used by the assessee in its activity of processing raw cashew nuts. what was involved was a claim under ..... section 32a of the act in respect of plant and machinery used in the activity of the assessee for processing fish. therefore, we reframe the substantial question of law to be answered as :'whether, on .....Tag this Judgment!
Court : Kerala
Reported in : (2004)190CTR(Ker)405; 273ITR278(Ker)
..... . 1988-89, 1989-90 and 1990-91. in it ref. no. 179 of 1997, the reference is at the instance of the assessee. in all the other three cases, the appeal is filed by the department.2. in it ref. no. 179 of 1997, the tribunal took the view that under section 32ab of the income-tax act (hereinafter referred to as the 'it actit act ..... the madras high court, a similar question arose in the decision reported in cit v. tamil nadu mercantile bank ltd. : 255itr205(mad) . it was held thus :'section 32ab of the it actit actit act, 1961, provides a benefit to the assessee. the benefit so provided is an incentive to an assessee, who deposits any amount in a development bank before the expiry of ..... development bank, the benefit is given by way of deduction, such deduction being allowed before the loss, if any, brought forward from earlier years, is set off under section 72 of the it actit actit act, 1961, (i) of a sum equal to the amount or the aggregate of the amounts so deposited and any amount so utilised; or (ii) of a sum equal ..... to twenty per cent of the profits of eligible business or profession as computed in the accounts of the assessee audited in accordance with sub-section (5), whichever is less .....Tag this Judgment!
Court : Kerala
Reported in : (2006)198CTR(Ker)557
..... has rejected an application for waiver of penalty filed by the petitioner under section 273a of the income tax act for the assessment year 1990-91. the commissioner rejected the petitioner's application on the ground that the petitioner does not satisfy the conditions required for waiver namely, section 273a(1)(b) of the income tax act. even though counsel for the petitioner submitted that the commissioner, has rejected ..... the claim of waiver on merits, even though there is an observation in the order that petitioner has not chosen to file appeal against the penalty levied under section 271(1)(c) of the act. moreover, on going through the assessment and penalty orders, it is seen that after failing to prove cash credit in the name of one sukumaran the petitioner ..... waiver of penalty are not satisfied. it is also seen that the penalty levied is the minimum penalty and apart from the penalty, petitioner is not liable to pay any tax as the net result under the assessment order is still a loss. in the circumstances, op is devoid of any merit and is dismissed.Tag this Judgment!
Court : Kerala
Reported in : (1995)127CTR(Ker)363; 214ITR590(Ker)
..... k.p. balanarayana marar, j. 1. the petitioner, an income-tax assessee, seeks to quash annexure 'a-2' complaint filed by the assistant commissioner of income-tax, circle-i, cannanore. the complaint was filed under section 277 of the income-tax act, 1961.2. the petitioner had submitted a return of income for the assessmentyear 1990-91, showing a loss of rs. 2,81,565. during the ..... petitioner as c. c. no. 18 of 1994 before the court of the additional chief judicial magistrate (economic offences), ernakulam, for offences punishable under sections 270c and 277 of the income-tax act. no notice has so far been received by the petitioner, but he understands that a warrant had been issued. this criminal miscellaneous case has been filed ..... additional chief judicial magistrate is unsustainable. this contention will not lie in the face of section 276c of the income-tax act. that section states that if a person wilfully attempts in any manner whatsoever to evade any tax, penalty or interest chargeable or imposable under the act, he shall, without prejudice to any penalty that may be imposable on him, be ..... above credits amounting to rs. 80,000 as incomefrom undisclosed sources. the assessment for the year 1990-91 was completed. penalty proceedings were also initiated under section 271(1)(c) on theground that the petitioner had concealed particulars of income. theassistant commissioner of income-tax, the first respondent, levied penaltyof rs. 22,600. that order was set aside by the .....Tag this Judgment!
Court : Kerala
..... the prayer of the petitioner favourably. however, contrary to what is submitted, i find that even the second application made by the petitioner invoking both section 190 (2) as also 220 (2a) of the income tax act was considered by the chief commissioner and the latter prayer was again rejected for non co-operation evidenced by default in making payment. it was after ..... order refusing to invoke the powers conferred on the first respondent for waiver under section 220 (2a) of the income tax act. the petitioner was a stock broker and on the claim that he had no sufficient income for the years 1990-91 and 1991-92, did not file any return of income. for the assessment year 1992-93, the petitioner filed returns however without necessary ..... in which no return was filed. for the subsequent years due to non co-operation of assessee, assessment was completed under section 144 of the income tax act. the assessment as such is not the subject of challenge in the above writ petition and ..... annexures. in such circumstances, the department was constrained to issue notice under section 148 for the years .....Tag this Judgment!
Court : Kerala
Reported in : 228ITR797(Ker)
..... by carrying it forward from the previous year (see pp. 90 and 91 in, the paragraph at the bottom of page 90 of 216 itr).10. in ouv judgment these observations are in perfect consonance with the statutory provision of section 139(3) of the income-tax act, 1961. the language speaks of the income-tax officer acting 'in his discretion' and dealing with a situation where an application ..... is presented by the assessee within the time allowed under section 139, sub-section (1), of the act specifying a return of loss. in our judgment, the assessee had applied ..... v.v. kamat, j.1. the revenue, under section 256(2) of the income-tax act, 1961, desires reference of the following questions :'1. whether, on the facts and in the circumstances of the case and also in the light of the relevant provisions, the assessee is ..... entitled to carry forward any loss ? 2. whether, on the facts and in the circumstances of the case and also considering the relevant provisions and the provision contained in sub-section .....Tag this Judgment!
Court : Kerala
Reported in : 257ITR633(Ker)
..... , 1998, allowed the appeals of the department accepting the reasoning of the assessing authority. aggrieved the appeal.8. the question raised depends on the wording of section 80-i of the income-tax act, 1961, hereinafter referred to as ('the act'). for convenience we will extract the section hereinbelow (after omitting that part of the statute not relevant).'80-1. (1) where the gross total ..... readers in the corporation area of trivandrum.5. the assessing authority during the course of assessment called for the basis of 19 per cent. adopted for the assessment year 1990-91. this was furnished to the assessing authority by letter no. 631 of 1993, dated february 4, 1993. though the assessing authority entered a finding that undoubtedly the trivandrum ..... the year of commencement.3. for the assessment years 1990-91 and 1991-92, the appellant claimed deduction of rs. 15,03,130 and rs. 2,46,252, respectively, under section 80-i(1) of the act in respect of the appellant's new unit at thiruvananthapuram. the main source of income of the appellant-assessee is by way of advertisements and ..... in the business of publishing newspapers, weeklies and other publications. the appellant has been publishing its newspapers, weeklies, etc., during the accounting years relevant to the assessment years 1990-91 and 1991-92 from its industrial undertakings (hereinafter referred to as 'units') at kottayam, cochin, kozhikode and thiruvanantha-puram. for the said assessment years, the appellant claimed benefit .....Tag this Judgment!