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Judgment Search Results Home > Cases Phrase: income tax act Court: allahabad Year: 1999 Page 8 of about 217 results (0.050 seconds)

Sep 29 1999 (HC)

Commissioner of Income Tax Vs. Goverdhan Dass Mahendra Kumar

Court : Allahabad

Decided on : Sep-29-1999

Reported in : [2001]246ITR338(All)

..... of rs. 5,322 being payment of interest to shyam lal surender kumar could not be made under section 40(b) of the income tax act, 1961 ?'the said questions are stated to arise out of the tribunal's order dated 30-3-1979, passed in ita no. 3591/delhi of 1977 ..... the disallowance of the sum of rs. 12,244 being payment of interest to mahindra kumar sewati devi could not be made under section 40(b) of the income tax act, 1961 ?'2. whether, on the facts and in the circumstances of the case, the tribunal was legally correct in holding that the disallowance of a sum ..... tribunal, new delhi, has in compliance with the direction of this court in ita no. 162 of 1980 under section 256(2) of the income tax act, 1961, referred the following questions for the opinion of this court :'1. whether, on the facts and in the circumstances of the case, ..... the original assessment, the claim for deduction of this interest was allowed. however, subsequently, the income tax officer reopened the assessment under section 147 and disallowed the claim in view of the provisions of section 40(b) of the act. in the assessment year 1973-74, on a similar ground the assessee's claim for payment ..... to the partners, i.e., hindu undivided families in question. we find support from an observation of the supreme court in brij mohan das laxmi das v. cit : [1997]223itr825(sc) . the identity of the partners and the persons receiving the interest being the same, the assessing officer had rightly invoked section 40(b .....

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Dec 08 1999 (HC)

Commissioner of Income Tax Vs. Janardhan Dass Shankar Lal

Court : Allahabad

Decided on : Dec-08-1999

Reported in : [2001]246ITR661(All)

..... the case, there was only a change in the constitution of the assessee-firm on 6-1-1976, within the meaning of section 187(2) of the income tax act, 1961, and, therefore, one single assessment covering both the periods, namely, from 1-4-1975, to 4-1-1976, and 6-1-1976, ..... tribunal, delhi bench 'e', delhi, has under section 256(1) of the income tax act, 1961, referred the following question of law for the opinion of this court :'whether, on the facts and in the ..... to 31-3-1976, was justified ?'the reference has been made at the instance of the commissioner of income tax, meerut, and the aforesaid question of law is stated to arise out of the tribunal's order dated 12-6-1981, passed in ita no. ..... effect from 6-1-1976, when a son of the deceased partner, janardhan dass, was taken as a partner. the firm filed two returns of income, one for the period 1-4-1975, to 4-1-1976, and the other 6-1-1976, to 31-3-1976. the assessing officer ..... would not be dissolved on the death of a partner, the death of a partner dissolves the firm in terms of section 42 of the partnership act and, therefore, two assessments have to be framed. following the law as declared by the supreme court, the question, as reframed by us, ..... s finding is that it is not a case of reconstitution of a firm within the meaning of sub-section (2) of section 187 of the act and the tribunal has not held that a single assessment was justified. we, therefore, reframe the question as under :'whether, on the facts and .....

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Nov 29 1999 (TRI)

Dr. A.K. Bansal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Nov-29-1999

Reported in : (2000)73ITD49(All.)

..... of the person) to produce or cause to be produced, books of account or other documents which will be useful for or relevant to proceedings under the indian income-tax act, 1922, or under the income-tax act, 1961, he would not produce or cause to be produced, such books of account or other documents as required by such summons or notice. shri pradeep kar, chairman ..... of the person) to produce or cause to be produced, books of account or other documents which will be useful for or relevant to proceedings under the indian income-tax act, 1922, or under the income-tax act, 1961, he would not produce or cause to be produced, such books of account or other documents as required by such summons or notice. shri pradeep kar, chairman ..... following two questions had been referred for my opinion by the hon'ble president, income-tax appellate tribunal, acting under section 255(4) of the income-tax act, 1961 (hereinafter referred to as 'the act') : "1. whether, in the event of a challenge by the assessee to the validity of search conducted on him under section 132 of ..... believe" not being met and its non-examination by the assessing officer, the appellate tribunal during the hearing of the first appeal under section 253(1)(b) of the income-tax act, 1961 can act similarly and direct the department to produce such material before it 1. in consequence upon the difference of opinion amongst the hon'ble members constituting the division bench, the .....

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Sep 15 1999 (TRI)

Verma Roadways Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Sep-15-1999

Reported in : (2000)75ITD183(All.)

..... court of india in the case of c. b. gautam (supra) the ld. counsel, shri agarwal, submitted that the decision is in relation to other provisions of the income-tax act and the provisions of section 158bg are distinguishable from those provisions. the ld. counsel further submitted that wherever the legislature intended to provide an opportunity, the requirement of providing ..... a fundamental infirmity cannot be called a "technical objection or a mere irregularity" and such valid infirmity cannot be cured or obliterated by relying on section 292b of the income-tax act.78. we have carefully considered the facts and circumstances the relevant materials to which our attention was invited and the rival submissions relating to these grounds.79. the ..... bullion, jewellery or other valuable article or thing are kept; 43. an in-depth scrutiny of the provisions relating to search and seizure will indicate that section 132 of income-tax act, which empowers the designated authorities for authorising search and seizure etc. and for executing the authorisation warrant by way of search and seizures etc., does not confer any arbitrary ..... are requisitioned under section 132a". his main contention in this regard was that neither there was a valid and legal search initiated against the assessee under section 132 of income-tax act nor the requisitioned material was available to the assessing officer before the issuance of notice under section 158bc.27. in support of the contention, the ld. counsel made .....

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Sep 27 1999 (HC)

Shyam Biri Works (P) Ltd. Vs. Asstt. Cit

Court : Allahabad

Decided on : Sep-27-1999

Reported in : (2001)70TTJ(All)880

..... and rs. 13,30,000 respectively, it was entitled to benefits available under the provisions of explanation 5 to section 271(1)(c) read with section 132(4) of the income tax act. the alternative submission was that even, otherwise disclosure was made on the understanding given by the authorised officer that assessee will not be subjected to penalty under section 271(1 ..... wherein the assessee has objected the order of the commissioner (appeals), confirming the levy of penalty under section 271(1)(c) on quantum of income disclosed by the assessee, during the course of search under section 132, whereas income tax act nos. 2240 & 2660 (all.) 1991 are by the revenue wherein order of the commissioner (appeals) cancelling the penalty on the amount of various ..... in view of explanation 5 to section 271(1)(c) read with section 132(1) of the income tax act, 1961, imposed penalty on the total difference between the income as per so-called revised return and income in the original returns. in the revised returns, the additional income on account of disclosure made during the search was as under :rs.asst. yr. 1987-881,70 ..... 's counsel relied on the disclosure made in the statement recorded under section 132(4) of the income tax act on 29-11-1988 and 30-11-1988. according to the assessee's counsel, the assessee having disclosed an income of rs. 82 lakhs which was comprising of income declared in so-called revised returns for these 2 years i.e., rs. 1,70,000 .....

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Nov 30 1999 (TRI)

Assistant Commissioner of Vs. U.P. National Manufacturers Ltd.

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Nov-30-1999

Reported in : (2001)76ITD272(All.)

..... in view of the mandatory provisions of section 194h, the acit(tds) was fully justified in levying the interest under section 201(1a) of the income-tax act and that the 1d. cit(a) has committed a legal error in cancelling the levy of interest. in support of his contention, the 1d. d.r. has made reference to ..... tullu sales and service centre, lahuravir, varanasi rs. 6,73,878.3. a new provision under section 194h of the income-tax act was enforced w.e.f. 1-10-1991. it required the asscssees to deduct income-tax at source from the amount of commission. this provision is reproduced below : "194h-(1) any person, not being an individual ..... (1). thus if an assessee is in default or deemed to be in default then the recovery of the tax due may be made as per the procedure laid down under the provisions of the income-tax act, 1961 unless prohibited the recovery of government dues can also be made by another mode or procedure under any ..... under section 221 perhaps due to reasonable cause, though the assessee has been treated as in default under section 201(1) of the income tax act due to non-deposit of tds to the credit of central government as laid down under section 200, read with rule 50 of ..... and paid by the assessee.5. the assessee preferred the appeal against the order of cit dated 14-10-1992 passed under section 201 of income-tax act.6. in appeal, it was submitted on behalf of the assessee that the tax at source was not deducted by it because it had applied for exemption from the provision .....

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Nov 30 1999 (TRI)

Assistant Commissioner of Vs. U. P. National Manufacturers Ltd

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Nov-30-1999

..... that in view of the mandatory provisions of section 194h, the acit(tds) was fully justified in levying the interest under section 201(1a) of the income-tax act and that the ld. cit(a) has committed a legal error in cancelling the levy of interest. in support of his contention, the ld. dr. has made reference to the ..... cinni tullu sales and service centre, lahuravir, varanasi rs. 6,73,878.3. a new provision under section 194h of the income-tax act was enforced w.e.f. 1-10-1991. it required the assessees to deduct income-tax at source from the amount of commission. this provision is reproduced below : "194h-(1) any person, not being an ..... (1). thus if an assessee is in default or deemed to be in default then the recovery of the tax due may be made as per the procedure laid down under the provisions of the income-tax act, 1961 unless prohibited the recovery of government dues can also be made by another mode or procedure under any ..... under section 221 perhaps due to reasonable cause, though the assessee has been treated as in default under section 201(1) of the income tax act due to non-deposit of tds to the credit of central government as laid down under section 200, read with rule 30 of ..... and paid by the assessee.5. the assessee preferred the appeal against the order of cit dated 14-10-1992 passed under section 201 of income-tax act.6. in appeal, it was submitted on behalf of the assessee that the tax at source was not deducted by it because it had applied for exemption from the provision .....

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Nov 05 1999 (HC)

Shanker Traders Vs. Commissioner of Income Tax

Court : Allahabad

Decided on : Nov-05-1999

Reported in : [2000]248ITR691(All)

these three applications under section 256(2) of the income tax act, 1961, have been preferred by an assessee praying that the income tax appellate tribunal, allahabad, be directed to state respective cases and refer the following questions stated to be of law and to arise out of the common order dated 22-4- ..... found that the said letter was not the basis of the assessment and the finding in the assessment order about the correct extent of income and in the penalty order about the act of concealment of particulars of income is based on an appreciation of facts of the case and the material on record.learned counsel for the assessee contended that the tribunal ..... by virtue of explanation 4 to section 271(1) which defines the amount of tax sought to be evaded to mean the tax that would have been chargeable on the income in respect of which particulars have been concealed or inaccurate particulars have been furnished had such income been the total income. when an assessee declares a loss and the assessment is made on a ..... positive income, by adjustment of the income the particulars which were concealed, by virtue of the explanation .....

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Oct 15 1999 (HC)

Sahara India Savings and Investment Corporation. Ltd. Vs. Asstt. Cit

Court : Allahabad

Decided on : Oct-15-1999

Reported in : [2001]79ITD56(NULL)

..... for being availed of in india and discount on promissory notes and bill of exchange drawn or made in india. it does not include any amount chargeable to income-tax under the income tax act under the head 'interest on securities' (e.g., interest on government securities, debentures or other securities issued by local authorities, companies or statutory corporations) and ..... bills; and (iii)*********(iv)*********(v)*********from the above definition, it is noticed that earlier definition of interest carries an exclusion in respect of any amount chargeable to income-tax under the income tax act under the head 'interest on securities'. the point at issue is whether in the absence of a specific exclusion in the newly inserted definition of interest by ..... we find no infirmity in the conclusion arrived at by the tribunal that interest on debentures cannot be considered as interest as loans and advances, liable to be taxed under the income tax act.'10.4 the special counsel, for interpreting the definition whereas words means and includes are used, relied on the judgment of the supreme court in the case ..... . in ram ratan karmarkar v. amulya charan karmarkar : air1953cal232 . (f) similarly, difference between loans and advances and investment in securities/ debentures has been recognised under the income tax act in section 13(c) r.w. section 13(h) and section 193. apart from this recognised distinction consistently made in law between loans and advances and investment in securities/debentures .....

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Dec 17 1999 (HC)

Commissioner of Income Tax Vs. Sir Padampat Singhania

Court : Allahabad

Decided on : Dec-17-1999

Reported in : [2000]111TAXMAN223(All)

..... court:'whether, on the facts and in the circumstances of the case and on a proper interpretation of rule 3 of the income tax rules, 1962 and section 2(24)(iv) of the income tax act, 1961, the tribunal was justified in holding that the value of the perquisite of free imported car with chaufeur provided to the ..... at rs. 6,600 in both the years. that said sum was arrived at by determining the value of the perquisite in accordance with rule 3 of the income tax rules, 1962. the assessing officer, however, did not accept the same. he found that the assessee was not an employee of the company and, therefore, ..... respect of persons whose income is chargeable under the head `salaries'. it was, thus, contended on behalf of the commissioner that the said rule applies only to an emplolyee even ..... a substantial interest in the company ... is includible in such director's income. this proposition is not in dispute and it was also not disputed that rule 3 in terms applies to the determination of the perquisite value only in ..... and the tribunal following its order for the assessment year 1976-77, reduced the value to rs. 6,600.4. under section 2(24)(iv) of the act, the value of any benefit or perquisite, whether convertible into money or not, obtained from a company either by a director or by a person who has .....

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