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Judgment Search Results Home > Cases Phrase: income tax act Court: allahabad Year: 1999 Page 9 of about 217 results (0.027 seconds)

Sep 15 1999 (HC)

Commissioner of Income Tax Vs. Sir Shadi Lal Enterprises Ltd.

Court : Allahabad

Decided on : Sep-15-1999

Reported in : [2000]108TAXMAN543(All)

..... the circumstances of the case, the tribunal was legally justified in cancelling the interest of rs. 1,23,004 charged by the assessing officer under section 220(2) of the income tax act, 1961 ?'2. we have heard shri bharat a agarwal, senior standing counsel for the applicant and shri shambhu chopra, the learned counsel for the opposite party.3. the facts of ..... order1. this is an application under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'the act) praying that the tribunal, delhi bench 'b', new delhi, be directed to state a case and refer the following question stated to be of law and to arise out of ..... the case are that the assessee had filed return of income and claimed that since the tax already paid was more than the tax leviable on the return of income, a provisional assessment under section 141a of the act be made and assessment was, accordingly, made vide order dated 13-7-1988 and a refund of rs ..... . 4,39,352 was granted. subsequently, a regular assessment was made by the assessing officer determining the income at rs. 5 .....

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Nov 26 1999 (HC)

Trilok Chandra Seth Vs. Union of India

Court : Allahabad

Decided on : Nov-26-1999

Reported in : [2000]110TAXMAN289(All)

..... of lala kashi nath seth jewellers. writ petition no. 423 of 1986 challenges the notice issued by the commissioner of wealth-tax under section 25(2) of the wealth tax act, 1957 income tax act proposing to revise the petitioner's assessments for the assessment years 1982-83 and 1983-84. a copy of the notice dated ..... the an asset exceeds its written down value or its book value or the value adopted for purposes of assessment under the income tax act, 196 1, as the case may be, by more than 20 per cent, the value of that asset shall, for the purposes of rule 2a ..... on which no depreciation is admissible, its book value;(c) in the case of closing stock, its value adopted for the purposes of assessment under the income tax act, 1961, for the previous year relevant to the corresponding assessment year.(2) notwithstanding anything contained in sub-rule (1), where the market value of ..... the petitioner. a similar amendment was made in section 263 of the income tax act, 1961 which is pari materia to section 25 of the wealth tax act and the hon'bie supreme court in cit v. shri arbuda mills ltd. : [1998]231itr50(sc) and in cit v. jaykumar b. patil : [1999]236itr469(sc) has held that ..... by the chief commissioner or director general or commissioner authorised by, the board in this behalf undersection 120 of the income tax act, read with section 8 of this act;(b) 'record' shall include and shall be deemed always to have included all records relating to any proceeding under this .....

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Mar 15 1999 (HC)

Devraj Anand Ceramice (P.) Ltd. Vs. Commissioner of Income Tax

Court : Allahabad

Decided on : Mar-15-1999

Reported in : [2000]111TAXMAN724(All)

..... 2) of the income tax act, 1961, seeking a direction to the tribunal, new delhi, to draw up a statement of case and to refer the following questions of law for opinion to this court:'1. whether, on proper interpretation/ construction of the provisions of section 254(2) of the act and the misc. ..... reserved such telescoping 3. whether, the tribunal was legally justified in ignoring the judgments of the sales-tax authorities by which the turnover declared by the assessee stood accepted by holding that different considerations weigh in income-tax matters ?4. whether, the tribunal was legally justified in holding on mere suspicion, conjectures and ..... assessee in m.a. no. 63 (delhi) of 1995 filed by the assessee or in the alternative to direct the assessing officer to compute correct income of the assessee2. the tribunal, delhi, vide order dated 23-12-1994, had partly allowed the appeal filed by the assessee-applicant. while upholding ..... the facts and in the circumstances of the case, the tribunal being final fact-finding body was not obliged to compute the correct and real income of the assessee even on the basis of its own findings recorded in its order dated 23-12-1994 as also placed before it by the ..... from sheet coal depot as also the amount paid towards freight and fake deposits. the applicant filed an application under section 254(2) of the act, seeking rectification of the tribunal's order. the tribunal vide order dated 29-9-1995 had rejected the said application on the ground that .....

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Nov 17 1999 (HC)

Dr. S.C. Gupta Vs. Commissioner of Income Tax

Court : Allahabad

Decided on : Nov-17-1999

Reported in : [2000]248ITR782(All)

..... these are three applications under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'the act'), praying that the income tax appellate tribunal, new delhi, be directed to state a case and refer the following identical question stated ..... was exercised on the assessee. this is a finding of fact. that in the statement during the survey the assessee had offered additional income as mentioned above, is admitted even in the present applications in paragraph 1 thereof.as regards the assessees contention that the statement having been ..... appeal, the tribunal found that the statement made during the survey was a valid statement made without any duress and, therefore, the additional income was rightly assessed.learned counsel for the assessee-applicant contended that the assessee having retracted the statement made during the survey, it was the duty ..... could be made merely on the basis of the statement tendered during the survey without there being any documentary evidence or material suggesting, such income ?'we have heard sri vikram gulati,. learned counsel for the assessee-applicant, and sri shambhu chopra, learned standing counsel for the commissioner-respondent ..... reopened the assessment for these years under sections 147 and 148 of the act and proceeded to assess the aforesaid additional amounts. it appears that during the assessment proceedings the assessee did not accept the additional income and contended that his statement during the survey was the result of duress .....

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Dec 02 1999 (HC)

U.P. State Road Transport Corpn. Vs. Income Tax Appellate Tribunal

Court : Allahabad

Decided on : Dec-02-1999

Reported in : [2000]111TAXMAN352(All)

..... a report from dhawan & madan, chartered accountants. the report was submitted in form no. 3cb and stated as under:'audit report under section 44ab of the income tax act in a case where the accounts of business of a person carrying on business.-we have examined the attached balance sheet of u.p. state road transport corporation, ..... in the eyes of law3. whether the tribunal was justified in the circumstances of the case in refusing to consider the contention that section 44ab of the income tax act was not attracted in the case of the corporation since its activities do not fall in the category of business ?4. whether the activities of the ..... the state. its turnover admittedly exceeds 40 lakh rupees. it obtained an audit report in compliance with the provisions of section 44ab of the income tax act for the assessment year 1992-93. the report was found to be defective and held to be invalid and, therefore, penalty under section 271b of the ..... agarwal, j.this is an application under section 256(2) of the income tax act, 1961 income tax act praying that the tribunal, allababad, be directed to state a case and to refer the following questions stated to be of law and ..... the previous year, keep and maintain such books of account and other documents as may enable the assessing officer to compute his total income in accordance with the provisions of this act. section 44ab then provides for audit of accounts where the total sales, turnover or gross receipts exceed forty lakh rupees. there is .....

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Oct 15 1999 (TRI)

Sahara India Savings and Investment Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Oct-15-1999

..... sanctioned 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 also discount ..... the prior amended provisions excluding interest on securities. he further pointed out to the observation of the madras high court on pages 709 & 710 which reads as under : "the income-tax act did not define 'debentures'. to understand the meaning of the word 'debentures' we have to depend upon various other enactments as mentioned hereinbefore. considering those aspects and the fact that ..... ratan karmarkar v. amulya charan karmarkar 56 cwn 728 1 p. 729." (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 ..... availed of in india; and (b) discount on promissory notes and bills of exchange drawn or made in india, but does not include- (i) any amount chargeable to income-tax under the income-tax act under the head 'interest on securities'. (ia) interest referred to in sub-section (1b) of section 42 of the reserve bank of india .....

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Nov 26 1999 (HC)

Trilok Chand Seth Vs. Union of India (Uoi) and anr. and Wealth-tax Off ...

Court : Allahabad

Decided on : Nov-26-1999

Reported in : [2000]244ITR658(All)

..... value or its book value or the value adopted for purposes of assessment under the income-tax act, 1961, as the case may be, by more than 20 per cent., the value of that asset shall, for the purposes of rule 2a, be taken to be its market ..... case of an asset on which no depreciation is admissible, its book value ; (c) in the case of closing stock, its value adopted for the purposes of assessment under the income-tax act, 1961, for the previous year relevant to the corresponding assessment year. (2) notwithstanding anything contained in sub-rule (1) where the market value of an asset exceeds its written down ..... arguments raised on behalf of the petitioner. a similar amendment was made in section 263 of the income-tax act, 1961, which is pari materia to section 25 of the wealth-tax act and the supreme court in cit v. shri arbuda mills ltd. : [1998]231itr50(sc) and in cit v. jayhumar b. patil : [1999]236itr469(sc) , has held that by virtue of the amendment, the commissioner ..... under orders or directions issued by the board or by the chief commissioner or director-general or commissioner authorised by the board in this behalf under section 120 of the income-tax act read with section 8 of this act ; (b) 'record' shall include and shall be deemed always to have included all records relating to any proceeding under this .....

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Aug 16 1999 (HC)

Davendra Pal Singh Vs. Commissioner of Wealth-tax and anr.

Court : Allahabad

Decided on : Aug-16-1999

Reported in : [2000]243ITR127(All); [2000]109TAXMAN455(All)

..... land should have been accepted as agricultural. it is settled law, that the circular of the board is binding on all income-tax authorities including the commissioner under section 119 of the income-tax act. the order passed by the commissioner is perverse and based on irrelevant and extraneous considerations and as such is liable to be ..... bkda ; (iv) the assessee sold plot no. 119 measuring 176 square metres of this colony on march 19, 1990 ; and (v) in the income-tax return for the assessment year 1990-91, the builders konarka builders had shown a sum of rs. 3,18,451 as sale proceeds of the plots in hari ..... independently in this issue has been done and no efforts have been made to say whether the ingredients of section 18(1)(c) of the wealth-tax act are present or not.'7. so far as the orders levying penalty under section 18(1)(c) are concerned though first and second appeals are ..... respondent no. 2 to the present writ petition.viii. because a bare perusal of the order passed under section 18(1)(c) of the wealth-tax act would show that the assessing officer had not at all applied his mind as to whether penalty would have been levied in this case or not ..... . these two petitions under article 226 of the constitution of india have been preferred by davendra pal singh, an assessee, under the wealth-tax act, 1957 (hereinafter referred to as 'the act'), and pertain to the assessment years 1990-91 and 1991-92, respectively. the petitioner challenges orders dated january 31, 1995, whereby penalty .....

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May 18 1999 (HC)

Manna Prasad Jaiswal Vs. District Inspector of Schools, Deoria and Oth ...

Court : Allahabad

Decided on : May-18-1999

Reported in : 1999(3)AWC2343; (1999)2UPLBEC1197

..... , an agent would for all he purposes of the said act be deemed to be such agent of a non resident person and which by section 42 ..... words 'only if'. the rules are subservient to the act, which by section 18 (3) provides for promotion of the 'senior most teacher'.8. in c.i.t.. bombay v. bombay corporation. . a legal fiction was created by the indian income-tax act, 1922 which by section 43 provided that under certain circumstances ..... and have force and effect accordingly.' and thereafter the learned judge quoted the observation of viscount dunedin referred to hereinabove as made in commissioner of income tax. bombay v. bombay trust corporation ltd. and held :'it, therefore, cannot be doubted that when the legislature directed that the court of the ..... assessee', the privy council held that such agent was an assessee for all the purposes of the said act and hence, chargeable to income tax, assessee being defined by section 2 (2) as the person by whom income tax is payable. viscount dunedin in that connection observed that : 'now when a person is 'deemed ..... to be' something, the only meaning possible is that whereas he is not in reality that something, the act of parliament requires him to be treated as .....

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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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