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Judgment Search Results Home > Cases Phrase: income tax act Court: allahabad Year: 2004 Page 1 of about 472 results (0.026 seconds)

Apr 23 2004 (HC)

Jagdish Kumar Gulati Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Apr-23-2004

Reported in : (2004)191CTR(All)25; [2004]269ITR71(All)

..... material to support this finding of fact as is evident from paragraphs 11 and 12 of the tribunal orders. hence, this court cannot interfere under section 260a of the income-tax act.19. in cit v. shree manjunathesware packing products and camphor works [1998] 231 itr 53, the supreme court has held that the word 'record' in the explanation to section 263(1) includes ..... m. katju, j.1. this appeal under section 260a of the income-tax act, 1961, has been filed against the judgment of the income-tax appellate tribunal, allahabad, dated october 18, 2002, relating to the assessment year 1998-99.2. heard learned counsel for the parties.3. the appellant owns properties at 199, transport nagar, ..... . thus the revisional power of the commissioner under section 263 is of wide amplitude. it enables the commissioner of income-tax to call for and examine the record of any proceedings under the act. it empowers the commissioner of income-tax to make or cause to be made such inquiry as he deems necessary in order to find out if any order passed by the ..... the property was disclosed by the three brothers.5. the assessing officer completed the assessment under section 143(3) of the act for the assessment year 1998-99 on march 9, 2001. the commissioner of income-tax set aside the aforesaid assessment order under section 263 holding that the assessment order dated march 9, 2001, is prejudicial to the interests of the revenue .....

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Nov 23 2004 (HC)

Commissioner of Income-tax Vs. Mata Prasad

Court : Allahabad

Decided on : Nov-23-2004

Reported in : [2005]278ITR354(All)

..... tribunal, allahabad has referred the following questions of law under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the opinion of this court :'1. whether, on the facts and in the circumstances of the case the tribunal was legally correct in reviewing its own finding recorded in ..... the tribunal to rs. 55,250. while doing so the unexplained investment in the business was taken by the tribunal at rs. 38,000. the income-tax officer initiated proceedings under section 271(1)(c) of the act and imposed penalty of rs. 42,500. the penalty was imposed on the ground of unexplained investment of rs. 38,000 and investment in the ..... assessment year in question in respect of penalty imposed under section 271(1)(c) of the act. the respondent is a money-lender and he derived income from the pawning business. the income-tax department conducted a search on december 10, 1974. the respondent filed a return of income declaring an income of rs. 7,500 which was subsequently revised on march 25, 1976, disclosing an ..... money-lending business of rs. 4,500. the penalty was also confirmed by the commissioner of income-tax (appeals). in further appeal the tribunal has deleted the amount .....

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Aug 31 2004 (HC)

Commissioner of Income-tax Vs. Kanpur Textiles Ltd.

Court : Allahabad

Decided on : Aug-31-2004

Reported in : (2005)198CTR(All)293; [2005]276ITR140(All)

..... the facts and in the circumstances of the case, the tribunal was justified in law in holding that the interest paid to the income-tax department was an allowable deduction under the income-tax act ?'2. briefly stated, the facts giving rise to the present reference are as follows :the reference relates to the assessment year ..... the facts and in the circumstances of the case, when the provisions of section 36(1)(v) of the income-tax act, 1961, the provisions as contained in part c of schedule iv of the income-tax act, 1961 and the rules relating thereto were not complied with, the tribunal was in law justified in allowing the ..... the facts and in the circumstances of the case, when the provisions of section 36(1)(v) of the income-tax act, 1961, the provisions as contained in part c of schedule iv of the income-tax act, 1961 and the rules relating thereto were not complied with, the tribunal was in law justified in allowing the ..... the apex court has further held as follows (page 67) :'but the contention was that though schedule vi to the companies act may permit a provision for contingent liabilities, the income-tax act, 1961, does not, for, under section 36(v), the only deduction from profits and gains permissible is of a sum paid ..... tribunal, allahabad, has referred the following questions of law under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the opinion to this court :--'1. whether, on the facts and in the circumstances of the case, the .....

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Dec 01 2004 (HC)

Commissioner of Income-tax Vs. U.P. Hotels Ltd.

Court : Allahabad

Decided on : Dec-01-2004

Reported in : [2005]279ITR449(All)

..... tribunal, allahabad, has referred the following question of law under section 256(2) of the income-tax act, 1961 (here-inafter referred to as 'the act'), for opinion to this court :'whether, on the facts and in the circumstances of the case, the order of the ..... fide conductor will also be entitled to free meals. he also submitted that no expenditure was incurred by the respondents for providing free facility. the income-tax officer has added rs. 1.50 lakhs towards assumed expenditure.8. having heard learned counsel for the parties we find that it is not in ..... five star hotels of international standard, namely, clarks amer, jaipur (rajasthan), clark shiraz, agra and clarks avadh, lucknow. during the course of assessment, the income-tax officer, varanasi, has added a sum of rs. '1,50,000 in each of the assessment years on account of entertainment of guests and various visitors ..... guest facility is made available only to travel agents, who used to provide business to the respondents, and therefore, if at all there is any income on account of these guests, the same is treated as business expenditure and, therefore the same is not justified. the appellate assistant commissioner in appeal ..... tribunal upholding the deletion for entertainment expenditure is vitiated as it has failed to appreciate the provisions of section 37(2b) of the act correctly ?'2. the reference relates to the assessment years 1976-77 and 1977-78.3. briefly stated the facts giving rise to the present reference .....

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Nov 02 2004 (HC)

Chief Commissioner of Income-tax Vs. Rama Shanker

Court : Allahabad

Decided on : Nov-02-2004

Reported in : [2005]277ITR69(All)

..... a. n. mahajan, learned standing counsel for the revenue. nobody has appeared for the respondent-assessee.5. it is well settled that in the income-tax act the law as stands on the first day of the assessment year is applicable unless and until any amendment made in the ..... tribunal, allahabad, has referred the following questions of law under section 256(1) of the income-tax act, 1961, hereinafter referred to as 'the act', for opinion to this court :'1. whether, on the facts and in the circumstances of the case, the tribunal was justified in law in ..... march 31, 1980. the respondent-assessee claimed depreciation at 40 per cent. on truck used on hire. the income-tax officer allowed depreciation at 30 per cent. the appellate assistant commissioner upheld the order of the income-tax officer. feeling aggrieved the respondent-assessee preferred an appeal before the appellate assistant commissioner which had held that the ..... holding that the assessee is entitled to depreciation on truck at 40 per cent. as against 30 per cent. allowed by the income-tax officer and upheld by the ..... act or the notification issued therein is specifically made applicable from an anterior date. in this view of the matter, the notification dated july 24 .....

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May 19 2004 (HC)

Jugal Kishore Arora Vs. Deputy Commissioner of Income-tax

Court : Allahabad

Decided on : May-19-2004

Reported in : (2004)192CTR(All)174; [2004]269ITR133(All)

..... agricultural operation in the sense of cultivation of the soil.8. section 10(1) of the income-tax act states that agricultural income shall not be included in the total income of any person for the purposes of assessing him to income-tax.9. section 2(1a) of the income-tax act defines 'agricultural income' to mean : '(a) any rent or revenue derived from land which is situated in india ..... cannot object to filing of an appeal despite such an instruction. the appeal is clearly maintainable before the tribunal on behalf of the department under section 253(2) of the income-tax act, and this right to file an appeal is a statutory right and cannot be taken away or prohibited by executive instructions. moreover, the instructions itself state that an appeal ..... the nature described in paragraph (ii) of this sub-clause ;'10. it may be noted that the words 'agriculture' and 'agricultural purposes' have not themselves been defined in the income-tax act. hence they have to be given the meaning in common parlance and as interpreted by the courts. the meaning and import of the terms 'agriculture' and 'agricultural purposes' have been ..... and is used for agricultural purposes ; (b) any income derived from such land by--(i) agriculture ; or (ii) the performance by a cultivator or receiver of rent-in .....

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Feb 24 2004 (HC)

Jhunjhunwala Vanaspati Ltd. Vs. Assistant Commissioner of Income-tax ( ...

Court : Allahabad

Decided on : Feb-24-2004

Reported in : (2004)189CTR(All)46; [2004]266ITR664(All)

..... . 24,61,860. notice under section 143(2) of the act dated june 18, 1991, was issued to the petitioner and was served on him on june 21, 1991. thereafter, the ..... m. katju j.1. the petitioner has challenged the validity of the notice dated march 18, 1994, under section 148 of the income-tax act, 1961, issued to the petitioner for the assessment year 1990-91 (vide annexure 4 to the writ petition). in the alternative the petitioner has also challenged the order dated march ..... . the petitioner is a company registered under the indian companies act having its head office at varanasi. the petitioner established a vanaspati manufacturing unit which started production from march 29, 1990. the petitioner maintains account on mercantile basis.4. for the assessment year 1990-91, the petitioner filed a return under the income-tax act on december 31, 1990, declaring a loss of rs ..... case was transferred to the deputy commissioner of income-tax (assessment), varanasi, who again issued notice under section 143(2) dated july 15, 1991. thereafter letter .....

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May 17 2004 (HC)

Girdhari Lal (Decd.) (Through Legal Heirs) Vs. Commissioner of Income- ...

Court : Allahabad

Decided on : May-17-2004

Reported in : (2005)193CTR(All)656; [2004]269ITR50(All)

..... 1991-92 by issuing notices to the legal heirs of the late giridharilal and six assessment orders were passed under section 143(3) read with section 148 of the act and the income-tax assessed was rs. 1,33,924 in each assessment year in the status of an individual. the assessing officer denied the claim of the heirs of the late giridharilal ..... have been filed under section 260a of the income-tax act, 1961, by which the appellant has challenged the judgment, dated february 27, 2004 of the income-tax appellate tribunal, new delhi. all these appeals have been decided by the impugned common judgment. since they involve identical questions of law hence they are being decided by this common ..... to be assessed in the status of a hindu undivided family. on february 22, 1997, the commissioner of income-tax (appeals), meerut, allowed the appeals filed by the assessee and held the status of the late giridharilal as a hindu undivided family. he held that in the absence of a ..... . hence, he set aside the assessment orders.4. on february 27, 2004, the income-tax appellate tribunal set aside the aforesaid order of the commissioner of income-tax (appeals), meerut, dated february 22, 1997, and held the status of the late giridharilal to be individual. the tribunal further held that income by way of interest on the enhanced compensation was taxable in the hands of .....

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Sep 14 2004 (HC)

Arvind Kumar Gupta Vs. Tax Recovery Officer

Court : Allahabad

Decided on : Sep-14-2004

Reported in : (2005)199CTR(All)36; [2005]276ITR373(All)

..... . he did not furnish requisite documents/information sought by the petitioner and issued an order of attachment on 5th april, 2002 under rule 48 of the ii schedule of the income-tax act attaching the residential house no. a-71, sector 30, noida, which is owned by the petitioner's wife. the notice dated 26th march, 2002 and the consequent recovery proceedings are ..... orderr.k. agrawal, j.1. both these writ petitions have been filed by the same petitioner challenging the proceedings and the order passed under section 179 of the income-tax act, 1961, hereinafter referred to as the act. while in writ petition no. 1502 of 2002, the petitioner has sought a writ order or direction in the nature of certiorari quashing the notice dated 26 ..... time provided that the directors of a private limited company in liquidation would be liable jointly and severally with the company for payment of arrears of tax and there was no corresponding provision in the indian income-tax act, 1922. this section, foisting liability on the directors of a private limited company, operated only in the cases of a private company in liquidation prior ..... years 1977-78 to 1982-83 obviously, the company being a public company, the proceedings against the directors for recovery of the tax due from the company cannot be taken, and certainly not proceeded with under section 179 of the income-tax act, 1961.14. the apex court has further held that they need hardly say article 265 of the constitution clearly prohibits any .....

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Aug 27 2004 (HC)

Commissioner of Wealth-tax Vs. Narendra Kumar Gupta and ors.

Court : Allahabad

Decided on : Aug-27-2004

Reported in : (2006)203CTR(All)267; [2005]274ITR553(All)

..... that the fact that the assessee is maintaining his accounts on cash basis and has not received the interest is not relevant. the analogy of the income-tax act cannot be extended to the wealth-tax act, because the wealth-tax act by means of section 2(m) read with section 2(e) defines what constitutes 'net wealth' and an 'asset'. the indicia of ownership is enough ..... laid down by the apex court in the case of a. krishnaswami mudaliar : [1964]53itr122(sc) stands modified as a result of insertion of rule 9b as the wealth-tax act and the income-tax act are cognate enactments.6. we have heard sri shambhu chopra, learned standing counsel appearing for the revenue and sri p. k. jain, learned counsel appearing for the respondents.7 ..... item of expenditure is 100 per cent, allowable under the income-tax act while computing the income it does not automatically mean that such item ceases to be an asset or has no value. it will still remain an asset and will have some market value ..... that there is no right to compensation in the erstwhile holder and it constitutes an 'asset' within the meaning of section 2(e) of the act.12. it may be mentioned here that under the income-tax act various incentives, deductions and expenditures are allowed in order to encourage a particular industry or to safeguard interest of a class of persons. merely because an .....

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