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Judgment Search Results Home > Cases Phrase: income tax act Court: allahabad Year: 1999 Page 1 of about 217 results (0.101 seconds)

Nov 18 1999 (HC)

Commissioner of Income-tax Vs. Jai Durga Construction Co.

Court : Allahabad

Decided on : Nov-18-1999

Reported in : (2000)164CTR(All)512; [2000]245ITR857(All)

..... krishna, learned counsel for the appellant. 3. the relevant part of the tribunal's order is as under :'2. in terms of section 44ab of the income-tax act, 1961, the assessee was required to get its accounts audited and to obtain the audit report by october 31, 1991. the audit report dated october 31, 1991 ..... 20, 1992 ?(ii) whether the tribunal was justified in holding that audit report was obtained before the specified date as provided under section 44ab of the income-tax act, 1961, in view of the fact that audit report (as is evident from the date given on it) itself was prepared on october 31, 1991 ..... audit report within the time allowed under section 139(1) of the income-tax act, the assessee was liable to penalty under section 271b of the act. the penalty under consideration was imposed. in appeal, the learned commissioner of income-tax (appeals), following certain decisions of the income-tax appellate tribunal benches, held that the audit report having been obtained in ..... from july 1, 1995, of filing the audit report before the specified date in view of the fact that section 44ab of the income-tax act, 1961, says that audit report be 'obtained before' the specified date so that it may be filed along with the return of ..... time, no penalty was exigible under section 271b of the income-tax act.3. both the parties were heard. there is no dispute about the fact that the audit report was obtained before the specified date. .....

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Mar 11 1999 (HC)

Commissioner of Income-tax Vs. Laxmi Devi Sugar Mills Pvt. Ltd.

Court : Allahabad

Decided on : Mar-11-1999

Reported in : [2000]241ITR131(All); [2001]117TAXMAN702(All)

..... , it was allowable as deduction under the income-tax act, 1961 ?'2. the said question is stated to arise from the tribunal's order dated january 9, 1981, in i ..... law. in the case before us, the interest is not paid on the amount of any tax but is paid for delay in the payment of purchase price of raw material, i.e., sugarcane and is clearly an expenditure allowable under section 37 of the income-tax act, 1961. we, therefore, answer the aforesaid question in the affirmative, i.e., against the commissioner of ..... of law for opinion of this court under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, was the tribunal legally correct in holding that the interest paid under section 17(3) of the sugarcane (regulation of supply and purchase) act, 1958, was not penal in nature for infringement of law and, therefore ..... . t. a. no. 866 (all) of 1980 for the assessment year 1978-79.3. the list has been revised. none appears for the assessee-respondent.4. we have heard shri a.n. mahajan, learned standing counsel for the commissioner of income-tax .....

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Nov 02 1999 (HC)

Commissioner of Income-tax Vs. J.K. Bankers

Court : Allahabad

Decided on : Nov-02-1999

Reported in : (2001)165CTR(All)513; [2000]245ITR844(All)

..... .k. synthetics ltd. this claim was disallowed by the assessing officer on the ground that the assessee had failed to produce the required certificate under section 196(3) of the income-tax act. the assessee appealed to the appellate assistant commissioner. in appeal proceedings, the requisite certificate was filed and the assessee's appeal was allowed with the following observations :'1. the sole ..... assessment year 1971-72 for the opinion of this court :'1. whether, on the facts and in the circumstances of the case, a second application under section 154 of the income-tax act, 1961, lies when there has been no change in the factual or the legal situation ? 2. whether a successor-appellate assistant commissioner can entertain an application under section 154 for ..... the limit ofdeduction. according to this sub-section, the aggregate amount of deductions under this chapter vi-a of the income-tax act, 1961, shall not, in any case, exceed the gross total income of the assessee. in the instant case as the gross total income is only rs. 52,952 is allowed a deduction of rs. 52,952 which will reduce the gross total ..... ,710 the appellant was entitled to a deduction of rs. 4,03,797 under section 80k being the amount of tax-free dividend received from the j.k. synthetics ltd. but as this deduction was claimed under chapter vi-a of the income-tax act, 1961, the provisions of sections 80a and 80b are very relevant. hence, these are reproduced hereunder : '80a. (1) in .....

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Sep 24 1999 (HC)

Commissioner of Income-tax Vs. Dhanaura Oil Industries

Court : Allahabad

Decided on : Sep-24-1999

Reported in : [2001]248ITR445(All); [2001]117TAXMAN780(All)

..... the draft assessment as aforesaid, does not curtail the assessee's right of appeal as available under section 246(1) or (2) of the income-tax act. that being the position we remit the matter to the commissioner (appeals) for fresh decision according to law. we make it clear that by the ..... no right of appeal and the tribunal having upset that view, its order setting aside the appellate order and remanding the appeal to the commissioner of income-tax (appeals) for fresh disposal was proper. in any case that view is not challenged in this reference. 6. further, the case was remanded ..... commissioner mentioned 'even otherwise the assessee has not raised any concrete argument nor furnished any material to show how and why the total income computed by the income-tax officer is not correct or that the addition made by him is not genuine.' we are of the view that the failure on ..... faulty and confused manner. next, the commissioner took the view that as the assessee had, on receipt of a draft assessment order from the income-tax officer under section 144b(1), failed to submit objections within the time allowed by law and that as consequently, the assessment in questionhad been finalised ..... 72 : 'whether, on the facts and in the circumstances of the case, the tribunal was legally correct in remitting the matter to the commissioner of income-tax (appeals) for deciding the appeal afresh after giving the assessee an opportunity of being heard ?' 2. we have heard sri prakash krishna, learned standing .....

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Apr 15 1999 (HC)

Shyam Sundar Jalan Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Apr-15-1999

Reported in : [2002]254ITR596(All)

..... as the voluntarily disclosed income) at the rate or rates specified in the schedule. (2) nothing contained in sub ..... return under the indian income-tax act, 1922 (11 of 1922), or the income-tax act or to disclose fully and truly all material facts necessary for his assessment or otherwise, then, notwithstanding anything contained in the indian income-tax act, 1922 (11 of 1922), or the income-tax act or in any finance act, income-tax shall be charged in respect of the income so declared (such income being hereinafter referred to ..... 13 and in the schedule referred to as the declarant) have been seized as a result of any search under section 132 of the income-tax act or under section 37a of the wealth-tax act, the income in respect of the previous year in which such search was made or any earlier previous year. (3) in addition to the amount of ..... in respect of any income chargeable to tax under the indian income-tax act, 1922 (11 of 1922), or the income-tax act for any assessment year- (a) for which he has failed to furnish a return under section 139 of the income-tax act, or (b) which he has failed to disclose in a return of income furnished by him under the income-tax act before the date of .....

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Nov 18 1999 (HC)

Kailash Finance Company Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Nov-18-1999

Reported in : [2001]247ITR591(All)

..... as rebate to the customer for early closure of hire purchase cases concerned ? 3. on the facts and circumstances of the case, was the appellate tribunal not empowered under the income-tax act, 1961, to grant justice by deleting rs. 1,62,227 which was admittedly never received as profit on hire in the present case ?' 2. we have heard sri s. d ..... 1. by this application under section 256(2) of the income-tax act, 1961, the assessee-applicant prays that the income-tax appellate tribunal, allaha-bad, be directed to state a case and to refer the following questions stated to be of law and to arise out of the tribunal's order ..... , for the assessment year 1983-84 for the opinion of this court :'1. is the appellate tribunal legally correct in holding the view that the directions of the commissioner of income-tax (appeals) in his order dated march 25, 1998, were applicable to cases of early closure also in which full finance charges or hire purchase profit neither accrued nor-were received ..... and in the circumstances of the case, the tribunal was right in upholding the addition of rs. 1,62,227 representing short recoveries from the customers for computing the business income of the assessee ? we accordingly direct the appellate tribunal to state a case and refer the aforesaid question for the opinion of the court. .....

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Feb 24 1999 (HC)

Pandit Govind Prasad Mishra Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Feb-24-1999

Reported in : [1999]238ITR338(All); [2000]109TAXMAN160(All)

..... :'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in upholding the imposition of penalty under section 271(1)(c) of the income-tax act, 1961, in respect of both the years under reference ?'2. the facts of this case in a nutshell are that the assessee is an individual and was assessed for the ..... in respect of both the trucks were upheld by the tribunal.3. during the course of assessment proceedings, the income-tax officer initiated proceedings under section 274/271(1)(c) of the income-tax act, 1961 (hereinafter referred to as 'the act'), and issued notices to the assessee to show cause as to why penalty should not be imposed on him under section 271(1)(c ..... by learned counsel for the assessee and the revenue. in order to appreciate the submissions of the parties, we set out the provisions of section 271(1)(c) of the income-tax act, 1961, which reads as follows :'271. (1) if the income-tax officer or the appellate assistant commissioner or the commissioner (appeals) in the course of any proceeding's under this ..... , no penalty proceedings could be initiated.7. learned counsel for the applicant has cited a decision reported in cit v. anwar ali : [1970]76itr696(sc) , wherein the supreme court has been pleased to hold that the proceedings under section 28 of the indian income-tax act, 1922, are penal in character. the gist of the offence under section 28(1)(c) is that the .....

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Oct 01 1999 (HC)

Commissioner of Income-tax Vs. Purshottam Das Govind Das

Court : Allahabad

Decided on : Oct-01-1999

Reported in : (2000)164CTR(All)350; [2000]245ITR45(All)

..... tribunal, allahabad, has referred the following question of law for the opinion of this court under section 256 of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that ..... was aggrieved by the assessment order and, therefore, went up in appeal before the appellate assistant commissioner. the appellate assistant commissioner, however, agreeing with the income-tax officer, refused to interfere and dismissed the assessee's appeal.7. the assessee was not satisfied with the order of the appellate assistant commissioner and, ..... this amount will be in such manner as decided by the high court and later on by the supreme court. it was claimed before the income-tax officer that the difference amounting to rs. 44,777 between the enhanced prices and the old prices on sales of fertilisers in stock on may ..... account pledged with the district magistrate could not be treated as the assessee's income for this year. the income-tax officer, however, did not accept this claim and added this amount while computing the assessee's business income.5. hereto annexed marked annexure a and forming part of the statement of the ..... notification was taxable under section 41(1) in the year in which it actually realised the amount and that the difference cannot be treated as income of the assessee in which such difference was realised as purchase price.9. following the aforesaid decision of this court, we answer the question as .....

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Nov 22 1999 (HC)

Commissioner of Income-tax Vs. Auto Sales

Court : Allahabad

Decided on : Nov-22-1999

Reported in : [2000]246ITR494(All); [2001]115TAXMAN608(All)

..... references under section 256 of the income-tax act, 1961, in respect of a common assessee and relating to the assessment years 1971-72 and 1974-75.2. the reference in i. t. r. no. 237 of 1982 arises out of the order dated november 30, 1980, passed by the income-tax appellate tribunal in ita no. ..... the aforesaid rulings, therefore, did, not apply and we are of the view that the tribunal was right in upholding the decision of the commissioner of income-tax (appeals) who had found that only the excess amount left on the conclusion of the transaction that was transferred to the sundry creditors account was taxable. ..... was the balance of the additional sums left after the refunds made thereout and this is what has been done in this case by the commissioner of income-tax (appeals) and the tribunal. the assessing officer, on the other hand, had assessed the receipts themselves in the year of receipt and, therefore, this ..... giving a relief of rs. 2,00,971 to the assessee. on appeal by the commissioner to the tribunal the order passed by the commissioner of income-tax (appeals) was upheld. in doing so, the tribunal followed its earlier order in the assessee's own case for the assessment year 1972-73. a ..... in the assessment year 1971-72 was not a trading receipt and hence not includible in the computation of the total income of the assessee for the assessment year under reference ?'3. income-tax reference no. 73 of 1982 arises out of the tribunal's order dated february 12, 1981, for the assessment .....

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Oct 12 1999 (HC)

Commissioner of Income-tax Vs. M.P. Sugar Mills Co. Pvt. Ltd.

Court : Allahabad

Decided on : Oct-12-1999

Reported in : [2000]246ITR60(All)

..... tribunal, allahabad bench, allahabad, under section 256(1) of the income-tax act, 1961, has referred the following question for the opinion of this court :'whether the tribunal was correct in holding that the relief under section 80j of the act. is allowable for the relevant year without any reduction with reference to the actual period of working of the factory during the relevant ..... is allowable for the whole year or only for a portion of a year during which the industrial undertaking work, we find the opinion of the madras high court in cit v. simpson and co. : [1980]122itr283(mad) in which it was held that the words 'per annum' used in section 80j should be given their natural and liberal meaning and ..... sri. r. s, agarwal, learned counsel for the respondent.4. from the statement of the case we find that the commissioner through his application under section 256(1) of the act had required the tribunal to refer the following three questions for the opinion of this court :'1. whether the tribunal was correct in directing that the borrowed capital should be ..... directing that the borrowed capital should be included in the capital employed for the purpose of relief under section 80j of the act ? 2. whether the tribunal was correct in holding that the relief under section 80j of the act is allowable for the relevant year without any reduction with reference to the actual period of working of the factory during the .....

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