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Judgment Search Results Home > Cases Phrase: income tax act Court: allahabad Year: 1999 Page 10 of about 217 results (0.030 seconds)

Dec 15 1999 (HC)

Saraya Sugar Mills (Pvt.) Ltd. Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Dec-15-1999

Reported in : [2000]246ITR509(All); [2002]120TAXMAN411(All)

..... interest calculated at the same rate at which the moneys had been borrowed from the banks and to determine this the tribunal remitted the matter back to the commissioner of income-tax (appeals). in the question as aforesaid, it is not in dispute that the interest proportionate to the interest-free advances made to the directors is disallowable. in fact it has ..... at the same rate at which interest was paid by the assessee-company on the loans taken by it cannot be allowed as a deduction in working' out the business income of the assessee-company ?'2. we have heard sri shambhu chopra, learned counsel for the assessee, and sri a.n. mahajan, learned standing counsel for the respondent.3. the facts ..... been so held by this court in the assessee's own cases in cjt v. saraya sugar mills (p.) ltd. : [1992]193itr575(all) and cit v. saraya sugar mills (p.) ltd. : [1993]201itr181(all) that part of the interest paid to the bank can be disallowed to the extent to which the money has not ..... 1. at the instance of the assessee, the income-tax appellate tribunal, allahabad, has referred the following question stated to be of law and to arise out of its order dated september 28, 1981, passed in ita no. 924 (all) .....

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Dec 15 1999 (HC)

Saraya Sugar Mills (P) Ltd. Vs. Commissioner of Income Tax

Court : Allahabad

Decided on : Dec-15-1999

Reported in : [2001]246ITR509(All)

at the instance of the assessee, the income tax appellate tribunal, allahabad, has referred the following question stated to be of law and to arise out of its order dated 28-9-1981, passed in ita no. 924 (all) ..... at the same rate at which interest was paid by the assessee-company on the loans taken by it cannot be allowed as a deduction in working out the business income of the assessee-company ?'2. we have heard sri shambhu chopra, learned counsel for the assessee, and sri a. n. mahajan, learned standing counsel for the revenue.the facts of ..... -free advances made to the directors is disallowable. in fact it has been so held by this court in the assessee's own cases in cit v. saraya sugar mills (p) ltd. : [1992]193itr575(all) and cit v. saraya sugar mills (p) ltd. : [1993]201itr181(all) that part of the interest paid to the bank can be disallowed to the extent to .....

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Apr 16 1999 (HC)

Jogender Singh Vs. Income Tax Officer

Court : Allahabad

Decided on : Apr-16-1999

Reported in : (1999)155CTR(All)218

..... stood surety to the firm and its partners for a liability to the extent of rs. 1,00,559. the fact of the applying and obtaining of income-tax clearance certificate under s. 230a of the act, by the partners of the said firm, according to the respondents are not relevant, and therefore, the recovery proceedings for the realisation of the outstanding amount ..... filed by sri bhupendra singh, son of the petitioner it has been reiterated that the petitioner stood surety only for the liability of income-tax, wealth-tax and gift-tax and not for any penalty under s. 271(1)(c) of the act, and therefore, the petitioner is not liable to pay the amount of penalty imposed under s. 271(1)(c) against the firm ..... .11. sec. 2(43) of the act defines tax as follows :'2(43).'tax' in relation to the assessment year commencing on the lst day of april, 1965, and any subsequent assessment year means income-tax chargeable under the provisions of this act, and in relation to any other assessment year income-tax and super-tax chargeable under the provisions of this act prior to the aforesaid date.'it does ..... not specifically include penalty. sec. 156 of the act, which relates to notice of demand specifically, refers to tax, interest, penalty, fine or any other sum .....

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Sep 28 1999 (HC)

Shiv Pratap Singh Vs. District Magistrate/Addititional District Magist ...

Court : Allahabad

Decided on : Sep-28-1999

Reported in : 2000(1)AWC139; 2000CriLJ855

..... section 34, i.t. act.'15. in the recent case of whirlpool corporation v. registrar t.n. mumbai and others : air1999sc22 , it has been held, inter ..... of certiorari has been issued inspite of the fact that aggrieved party had other adequate legal remedies.'14. another constitution bench decision in calcutta discount co, ltd. v. income-tax officer : [1961]41itr191(sc) , has laid down the principles inthe following words :'though the writ of prohibition or certiorari will not issue against the executive officer ..... factor to be reckoned with in the matter of entertaining petition for issue of prerogative writs. the said decision as followed in k.s. rashid and sons v. income-tax investigation commissioner : [1954]25itr167(sc) , wherein reiterating the aforesaid proposition, it has been held that where alternative remedy existed, it would be sound exercise of ..... executive authority from acting without jurisdiction. where such action of an executive authorityacting without jurisdiction subjects or is likely to subject a person to lengthy proceedings and unnecessary harassment, the high court will issue appropriate orders or direction to terminate such consequences. writ of certiorari and prohibition can issue against income-tax officer acting without jurisdiction under .....

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Apr 23 1999 (HC)

Commissioner of Income-tax Vs. Hira Lal Mittal

Court : Allahabad

Decided on : Apr-23-1999

Reported in : [2001]248ITR288(All)

1. having heard learned counsel for the applicant, we are satisfied that only question no. 2 is the question of law which arises out of the order of the income-tax appellate tribunal. we, therefore, direct the income-tax tribunal to draw up a statement of the case and refer the following question for opinion of this court :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was legally justified in dismissing the departmental appeal when the matter is sub judice before the high court ?'2. in so far as question no. 1 mentioned in the application is concerned, it does not arise from the order of the tribunal, no rule is issued on this question.3. the application stands disposed of.

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Nov 30 1999 (TRI)

V.V.S. Alloys Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Nov-30-1999

..... business of the directors as any information about the independent business activities of the three directors in this very line of business was neither available in their respective income-tax records nor found during the course of search.56. as regards alternate claim of the appellant that the said loose papers did not go to show that ..... ddi wing, even after conclusion of search on 3rd september, 1996, itself. he placed before us the specific instances where statements were recorded by the asstt. director of income-tax after concluding the search operation, which are as under :------------------------------------------------------------------------sl. name of persons whose statements were date ofno. recorded statement------------------------------------------------------------------------(1) sanjay kumar agarwal director 15-10-1996 ..... assumption of jurisdiction by the ao to pass block assessment order. (a) the passage appearing at p. 1216 of kanga and palkhivala's "the law and practice of income-tax" eighth edition reading as under : "waiver of notice - the earlier view of the calcutta and kerala high courts was that the requirement of a valid notice, though ..... and examine them under various provisions as are contained in part c of chapter xiii of the act, particularly those contained in s. 131(1a). it was further argued that even if the authorised officer or the asstt. director of income-tax does not have jurisdiction of the ao, he is not debarred from exercising the powers conferred .....

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Jun 30 1999 (TRI)

Monga Metals (P) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Jun-30-1999

..... provisions of act and not under the provisions invoked by the ao.65.3. in view of the foregoing discussions, we are ..... in such type of activities, therefore, do not fall within the ambit of taxing provisions such as invoked by the ao.the indulgence of someone in such type of activity may fall within the ambit of some other provisions of the act, such as abatement for evasion of income-tax and the remedial action for such type of assessee's lies under some other ..... , the onus to prove as to how the contents of those documents represented purchase or sale of ingots or scrap and how that resulted in income liable to be taxed as undisclosed income under chapter xiv-b of the act on the revenue but the revenue has failed to discharge this onus. the observations of the ao are purely astronomical presumption and consequently are ..... question arises as to why the assessee will extend any benefit or allow any 3rd party to earn some income, when the assessee can disclose its cash by taking recourse to the provisions of s. 273a of the act and by paying the regular tax. (d) further by introducing cash to the extent of gross profit as in the above example one is .....

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Nov 02 1999 (HC)

Commissioner of Income Tax Vs. Anil Kumar

Court : Allahabad

Decided on : Nov-02-1999

Reported in : [2001]246ITR38(All)

..... not includible in his wealth ?2. whether, on the facts and in the circumstances of the case, the income tax appellate tribunal was correct in law in holding that the assessee was entitled to exemption under section 5(1)(iv) of the wealth tax act, 1957, in respect of his share in saraswati ware housing corporation ?'the aforesaid questions arise out of a consolidated ..... the commissioner.3. as regards question no. 2, the contention of the commissioner is that the assessee was not entitled to exemption under section 5(1)(iv) of the wealth tax act in respect of the share in saraswati ware housing corporation. the said saraswati ware housing corporation was not a legal person that could own the property in its own right ..... the respondent.2. admittedly, the additions that were made in the case of the firm were not in respect of any tangible asset and were intangible additions. under the wealth tax act, what is assessable as the wealth of an assessee is the value of the asset actually owned by him on the valuation date. the tribunal's finding is that the ..... direction dated 17-7-1980, under section 27(3) of the wealth tax act, 1957, in wealth-tax applications nos. 47, 46 and 48 of 1980 has referred the following questions for the opinion of this court :'1. whether, on the facts and in the circumstances of the case, the income tax appellate tribunal was correct in law in holding that the assessee's share .....

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Oct 14 1999 (HC)

Commissioner of Wealth Tax Vs. Anil Kumar Agarwal

Court : Allahabad

Decided on : Oct-14-1999

Reported in : [2001]246ITR93(All)

..... with others owned some immovable property known as 'mahavir glass works' which appears to be assessed to income-tax as an association of persons. the petitioner claimed exemption under section 5(1)(v) of the wealth tax act, 1957, in respect of his share in the said immovable property. the assessing officer denied the ..... legally correct in holding that the assessee was entitled to the deduction under section 5(1)(iv) of the wealth tax act in respect of his 1/5th share in the association of persons mahavir glass works ..... sri prakash krishna, learned counsel for the commissioner. no one appeared on behalf of the assessee-respondent.under section 5(1)(iv) of the wealth tax act, a house property or part of a house belonging to the assessee was not includible in the net wealth of an assessee. the petitioner along ..... . 515 and 516 (del) of 1979, for the opinion of this court :'whether the income tax appellate tribunal was ..... the income tax appellate tribunal, delhi bench-c, has, at the instance of the commissioner of wealth tax, referred under section 27(1) of the wealth tax act, 1957, the following question, stated to be of law and to arise out of an order dated 15-10-1980, passed by the said tribunal in wealth tax appeals nos .....

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Apr 26 1999 (TRI)

Senior Accounts Officer, thermal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Apr-26-1999

..... complete a particular part of the project, namely, construction of railway line to provide transport facilities. thus, the appellant was liable to deduct the tax under s. 194c of the act. there was no reasonable cause for not doing so. the penalty is rightly levied, it is confirmed." 3. before us, the submission ..... their profit. not being satisfied with the assessee's explanation, the ito(tds) referred the matter to the dy. cit for imposition of penalty under s. 271c of the act. the dy. cit also issued a show-cause notice in response to which the contentions made before the ito were reiterated. on the contention ..... senior accounts officer in b-thermal power project of u.p.state electricity board, anpara, was a person responsible for deduction of tax at source under s. 194-c of the act from payments made to contractors and sub-contractors. during the financial years 1989-90 and 1990-91 and 1991-92, payments of ..... the assessee never treated m/s. ircon as a contractor and it was because of this bona fide understanding that no tax was deducted at source under s. 194c of the act. in this connection, it was stressed that the payments to m/s ircon were being made by b-thermal power project ..... which our attention was invited and the rival submissions. sec. 271c provides for imposition of penalty for failure to deduct tax at source under the provisions of chapter xvii-b of the it act. however, the imposition of penalty is not automatic because of s. 273b which lays down that no penalty shall be .....

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