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Judgment Search Results Home > Cases Phrase: income tax act Court: allahabad Year: 1999 Page 7 of about 217 results (0.027 seconds)

Oct 09 1999 (HC)

Commissioner of Income Tax Vs. Jai Dei Devi, Anand Ram Jaipuria Public ...

Court : Allahabad

Decided on : Oct-09-1999

Reported in : [2001]245ITR295(All)

..... tribunal, allahabad, has, in compliance with the direction of this court under section 256(2) of the income tax act, 1961, referred the following question for the opinion of this court :'whether, on the facts and in the circumstances of the case, ..... and included in their list also the shares purchased by the assessee-trust, the union of india also moved an application for the recovery of outstanding income-tax demands against jaipuria brothers ltd. the first civil judge to the interim order dated 29-6-1967, restrained swadeshi cotton mills ltd. from making any ..... of 1960 the assessee had no right to receive the amount during the year under consideration and, therefore, this amount could not be treated as its income. the assessee's contention was not accepted by the assessing officer but was accepted by the appellate assistant commissioner. the tribunal too upheld the contention of ..... dividend on the shares of swadeshi cotton mills co. ltd. and a sum of rs. 15,227 being the tax deducted at source thereon were liable to be excluded from the assessee's total income for the assessment year 1971-72 ?'2. the said question arises out of the tribunal's order dated 17- ..... found that because of the restraint order passed by the court, no right had accrued to the assessee to receive this income and, therefore, this amount could not be treated as its income for the year under consideration.6. admittedly, the assessee had purchased the shares concerned from jaipuria brothers limited and the restraint .....

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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]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 ..... limit of deduction. 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 ..... ,42,710the 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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Oct 11 1999 (HC)

Commissioner of Income Tax Vs. Omrao Industrial Corporation (P) Ltd.

Court : Allahabad

Decided on : Oct-11-1999

Reported in : [2001]246ITR346(All)

..... this court :'whether, in the course of making reassessment after having validly initiated reassessment proceedings under section 147(a) of the income tax act, 1961, in respect of certain items of escaped income, the income tax officer can also add/disallow in computing the total income of the assessee certain other items which were allowed by him at the time of framing original assessment under section 143 ..... (3) of the income tax act, 1961 ?'2. we have heard shri prakash krishna, learned counsel for the commissioner. no one appeared on behalf of the respondent.the assessee's assessment was reopened under section 147( ..... almost made a review of the original assessment and started disallowing various amounts which, according to him, should not have been allowed by the income tax officer making the original assessment. it is not the case of the income tax officer that such allowances were made on account of non-disclosure of any facts by the assessee. the disallowances were made by the subsequent ..... had escaped assessment other than or in addition to the item or items which have led to the issuance of the notice under section 148, the income tax officer cannot make an order of reassessment inconsistent with the original order of assessment in respect of matters which are not the subject-matter of proceedings under section 147 and .....

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Jun 21 1999 (HC)

Smt. Usha Tripathi Vs. Assistant Commissioner of Income Tax

Court : Allahabad

Decided on : Jun-21-1999

Reported in : (2000)66TTJ(All)508

..... has objected to the assessment order for block period passed by the assessing officer under the provisions of chapter xiv-b of the income tax act (hereinafter called the act) and has listed as many as 21 grounds.1.1. in addition to the aforesaid, the appellant/assessee also sought permission, ..... may be which is not only unjustified but looks absurd also because the income to be determined under the income tax act is the taxable income as is clear from the provisions of chapter iv of the act. similarly, if the income from all heads is not to be aggregate then in the above exercise ..... the total income (as per present assessee's theory) computed under chapter xiv-b shall be from other sources and to compute the undisclosed income ..... interpret the provisions the way the appellant's counsel has tried because the hon'ble supreme court in case of k.p. verghese v. income tax officer has clearly held that an interpretation, which leads to absurdity, must be avoided. the interpretation should be to advance the purpose of ..... regular books of account by the assessee for the purpose of income-tax, the income is admittedly undisclosed income and there is no dispute about it. the dispute is only with respect to the applicability of the other provisions of the act. the appellant's stand is that the other provisions, such .....

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Nov 24 1999 (HC)

Commissioner of Income Tax Vs. GramIn Sadhan

Court : Allahabad

Decided on : Nov-24-1999

Reported in : [2001]245ITR563(All)

this is an appeal under section 260a of the income tax act, 1961, against an order dated 11-1-1998, passed by the income tax appellate tribunal, allahabad, in i. t. a. no. 1736 (all.) of 1994, for the assessment year 1991-92 whereby it upheld an order passed by the commissioner (appeals) cancelling a ..... penalty levied by the assessing officer under section 271b of the act.we have heard sri shambhu chopra, learned standing counsel for ..... the commissioner-appellant.2. under section 44ab, as it stood during the assessment year under consideration, the assessee was required to get its accounts audited by an accountant before the specified date. this specified date was 31-10-1991. the assessee filed its return of income for the ..... obligation further requiring an assessee to furnish the report to the assessing officer before the specified date. this obligation has been provided subsequently by an amendment effected by the finance act, 1995, with effect from 1-7-1995. therefore, the legal position as enunciated by the commissioner (appeals) and the appellate tribunal is abundantly self-evident and no substantial question of .....

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Sep 21 1999 (HC)

Commissioner of Income Tax Vs. Saran Khandsari Sugar Works

Court : Allahabad

Decided on : Sep-21-1999

Reported in : [2001]246ITR216(All)

..... in compliance with this court's direction under section 256(2) of the income tax act, 1961, made by order dated 9-9-1980, in i. t. a. no. 125 of 1980, the appellate tribunal, new delhi, has referred ..... is in appeal.3. sri b. d. sainia, appearing for the revenue, supported the order of the income tax officer. for the assessee reliance was placed on the appellate assistant commissioner's order.4. after hearing the parties, we find ourselves in agreement with the reasoning and ..... assessment does not attract penalty proceedings. on the facts and in the circumstances of the present case, it appears to be obvious that the income assessed by the income tax officer was agreed to by the appellant as a measure of co-operation and with a view to escaping penal consequences, i find from the ..... penalty cannot be imposed. from another angle also, the facts as noticed in the assessment order do not indicate any concealment at all. the income was merely estimated without finding any concealment as such. from this angle also, therefore, penalty is not attracted. the penalty order is, therefore, cancelled.the revenue ..... assessment order that no basis is given for estimating the income at rs. 35,000. it, therefore, appears that the agreement was conditional. in such circumstances, .....

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Sep 29 1999 (HC)

Satya NaraIn Sangam Lal Vs. Commissioner of Income Tax

Court : Allahabad

Decided on : Sep-29-1999

Reported in : [2001]246ITR304(All)

..... tribunal, allahabad, has, under section 256(1) of the income tax act, 1961, referred the following question stated to be of law and to arise out of its order dated 25-4-1981, passed in ita no. 1696 (all) of 1980 for .....

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Apr 26 1999 (HC)

Senior Accounts Officer, thermal Power Project, Anpara Vs. Assistant C ...

Court : Allahabad

Decided on : Apr-26-1999

Reported in : (2000)66TTJ(All)529

..... , varanasi, dt. 29th feb., 1993, the assessee is objecting to the sustenance of penalty of rs. 3,64,608 and rs. 8,77,296 imposed under section 271c of the income tax act, 1961 for the asst. yrs. 1990-91 and 1991-92 respectively. as many as six identical grounds have been taken in each of the appeals which are argumentative in nature ..... the case, the material to 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 income tax act. however, the imposition of penalty is riot automatic because of s, 279.13 which lays down that no penalty shall be impossible for any ..... and for their profit. not being satisfied with the assessee's explanation, the income tax officer(tds) referred the matter to the dy. cit for imposition of penalty under section 271c of the act. the dy. cit also issued a show-cause notice in response to which the contentions made before the income tax officer were reiterated. on the contention that in view of the nature of ..... agreement made with m/s ircon there was no liability to deduct tax at source, the dy, cit observed that the various clauses of the .....

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Apr 15 1999 (HC)

Shyam Sunder Jalan Vs. Cit

Court : Allahabad

Decided on : Apr-15-1999

Reported in : [2001]119TAXMAN329(All)

..... as the voluntarily disclosed income) at the rate or rates specified in the schedule.(2) nothing contained in sub-section ..... 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 ..... 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 ..... 4 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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Dec 14 1999 (HC)

Commissioner of Income Tax Vs. Kesho Ram and ors.

Court : Allahabad

Decided on : Dec-14-1999

Reported in : [2001]245ITR733(All)

..... is in the position of a creditor of the association and the interest paid by the association to him is, legitimate deduction under section 10(2)(iii) of the indian income tax act, 1922, in computing the profits of its business. therefore, the tribunal was right in applying this decision and the answer to this aspect of the question is self-evident.as ..... high court in cit v. harnandrai shrikishan akodia (supra).3. it is on the aforesaid facts that the question, as stated above, is ..... case, the tribunal was legally correct in holding that the decision of the madhya pradesh high court reported in cit v. harnandrai shrihishan akodia : [1966]61itr50(kar) is directly on the point and there was no prohibition under the provisions of the income tax act to pay interest to the members of association of persons during the assessment year under consideration ?'.2. we have ..... and held that the payment of interest was a business expenditure and, therefore, allowed deduction in computing the income of the association. the assessing officer appealed to the tribunal and that was dismissed. the tribunal noticed that there was no prohibition under the income tax act, 1961, for allowing such a deduction and the matter was covered by a judgment of the madhya pradesh .....

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