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Judgment Search Results Home > Cases Phrase: income tax act Court: andhra pradesh Year: 2012 Page 1 of about 98 results (0.113 seconds)

Jan 27 2012 (HC)

Commissioner of Income Tax, VijayawadA. Vs. Ms.O.R.Distilleriesltd., T ...

Court : Andhra Pradesh

Decided on : Jan-27-2012

..... the same assessee, namely, m/s.o.r.distilleries ltd., tirupathi. in r.c.no.254 of 1996, the income tax appellate tribunal (itat) referred the following questions under section 256(1) of the income tax act, 1961 (the act), for opinion of this court. 1. whether on the facts and in the circumstances of the case, the itat is correct in holding that the article ..... .c.no.77 of 1997 pertaining to assessment years 1985-1986, 1986-1987 and 1989-1980. submissions4. the junior standing counsel for income tax would submit that section 32a(2)(iii) read with item 1 of eleventh schedule of the act does not enable the assessee to claim investment allowance as they are engaged in the manufacture and production of alcoholic spirits. according ..... or thing, viz., alcohol including rectified spirit and denatured spirit manufactured by the assessee company do not come under the ambit of eleventh schedule of the i.t.act, 1961? 2 ..... as to make statute workable). if any interpretation renders an act or any of its core provisions unworkable, such interpretation should be avoided unless the legislative intention is clear and unambiguous (saurabh chaudri v union of india8, commissioner of income tax v lakshmi machine works9 and k.p.mohammed salim v commissioner of income tax10). in tinsukhia electric supply company limited v state of .....

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Jan 27 2012 (HC)

Commissioner of Income Tax, VijayawadA. Vs. Ms.O.R.Distilleries Ltd., ...

Court : Andhra Pradesh

Decided on : Jan-27-2012

..... the same assessee, namely, m/s.o.r.distilleries ltd., tirupathi. in r.c.no.254 of 1996, the income tax appellate tribunal (itat) referred the following questions under section 256(1) of the income tax act, 1961 (the act), for opinion of this court. 1. whether on the facts and in the circumstances of the case, the itat is correct in holding that the article ..... .c.no.77 of 1997 pertaining to assessment years 1985-1986, 1986-1987 and 1989-1980. submissions4. the junior standing counsel for income tax would submit that section 32a(2)(iii) read with item 1 of eleventh schedule of the act does not enable the assessee to claim investment allowance as they are engaged in the manufacture and production of alcoholic spirits. according ..... or thing, viz., alcohol including rectified spirit and denatured spirit manufactured by the assessee company do not come under the ambit of eleventh schedule of the i.t.act, 1961? 2 ..... as to make statute workable). if any interpretation renders an act or any of its core provisions unworkable, such interpretation should be avoided unless the legislative intention is clear and unambiguous (saurabh chaudri v union of india8, commissioner of income tax v lakshmi machine works9 and k.p.mohammed salim v commissioner of income tax10).9. in tinsukhia electric supply company limited v state .....

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Feb 09 2012 (HC)

Ms.Gutta Anjaneyulu and Co.Rep. by Shri B Vs. Commissioner of Income-t ...

Court : Andhra Pradesh

Decided on : Feb-09-2012

..... no.1656(hyd)/1992 relating for the assessment year 1972-73. the order has been passed by the income tax appellate tribunal bench 'b', hyderabad, (hereinafter referred to as 'the tribunal').2. in this appeal under section 260a of the income tax act, 1961 (for short, 'the act') the following substantial questions of law have been framed for our consideration:"1) whether the tribunal's approach ..... an individual or as a hindu undivided family. while dealing with the question of the status of the assessee, the supreme court held as follows:"under the scheme of the income-tax act the "individual" and the "hindu undivided family" are treated as separate units of assessment and if a notice under section 34 of the ..... that the assessee has to prove the non-service of notice under sec.148 of the act and the "department has to prove the negative", is in conformity ..... the name 'gutta anajaneyulu & co.' as an aop.6. in view of the decision given by the aac, the assessment was reopened by the income tax officer (ito) by issuing a notice under section 148 of the act to the assessee in the status of an unregistered firm. after this notice, a fresh assessment was made on 11.08.1980 in the status .....

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Feb 07 2012 (HC)

Sri Chakra Financial Services Limited(Fo Vs. the Commissioner of Incom ...

Court : Andhra Pradesh

Decided on : Feb-07-2012

..... madan b.lokur, j.1. the issue for consideration in this assessee's appeal under section 260-a of the income tax act, 1961 (hereinafter, 'the act') is as to the methodology of computation of the assessee's income from finance charges.2. the assessee is a public limited company engaged in the business of leasing, hire purchase and finance. for the assessment year 1987-88 ..... charges should be assessed as returned by the assessee and not as per its books of account. in the second appeal, the tribunal followed the decision in deputy commissioner of income tax v/s. nagarjuna investment trust limited1, wherein a special bench of the tribunal at hyderabad held that finance charges/interest in relation to hire purchase agreements recognized by the assessee ..... of the reality of the situation. as pointed out by the supreme court in commissioner of income-tax v/s. british paints india limited3, even if the assessee adopted a regular system of accounting, the assessing officer is under a duty under section 145 of the act to consider whether the correct profits and gains could be deduced from the accounts so maintained ..... , it admitted a loss of rs.7,09,738/-. the assistant commissioner of income tax, central circle-iii, hyderabad, however assessed the income of .....

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Jan 27 2012 (HC)

Commissioner of Income-tax, VijayawadA. Vs. Ms.Vijaya Vani Educational ...

Court : Andhra Pradesh

Decided on : Jan-27-2012

..... common order: (per the hon'ble sri justice v.v.s.rao) in r.c.no.46 of 1998 under section 256 (1) of the income tax act, 1961 (the act), the income tax appellate tribunal, hyderabad bench 'a', hyderabad, had referred the following six questions for the opinion of this court. 1. whether on the facts and in the circumstances of the case ..... of the objects enables the institution to undertake commercial activities, it would not be entitled for approval under section 10(23c)(vi) of the act (american hotel and lodging association educational institute). (4) section 2(15) of the income-tax act defines "charitable purpose" to include "education". the sense in which the word "education" has been used in section 2(15) is the ..... "maabadi", "patasala" and vijaya vani printers and thereby infringed section 13(1)(c) of the act. the assessment was accordingly completed by the assistant commissioner of income tax, tirupathi, treating the assessee as a.o.p. with maximum marginal rate. the assessee's appeal before the cit (a) was allowed. while cancelling the assessment for both the years, the appellate commissioner directed the ..... , the revenue sought the reference under section 256(1). the senior counsel for income tax would submit that the assessee violated section 11(5) and section 13(1)(c) and therefore, became disentitled for the benefit under section 10(22) of the act. nextly, he would submit that cit (a) and the appellate tribunal ignored the violations and allowed exemption under section .....

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Jan 02 2012 (HC)

The Commissioner of Income Tax, A.P.-i,h Vs. M/S. Ajay Automation (P) ...

Court : Andhra Pradesh

Decided on : Jan-02-2012

..... . assistant commissioner of income tax4 and held that despite a specific provision having been introduced in the income tax act (section 80hhf) for the purposes of export or transfer of film software, that did not exclude the provisions of section 80hhc of the ..... is no substantial or material difference.16. at this stage, it is necessary to note that a similar provision was introduced in the income tax act with regard to export or transfer of film software under section 80hhf of the act. while interpreting section 80hhf, the madras high court relied upon an earlier decision of the bombay high court in abdulgafar a. nadiadwala v ..... the ground that computer software recorded on magnetic tapes cannot be considered as "goods" for the purposes of section 80hhc of the act. the commissioner also took note of the fact that section 80hhe was introduced in the income tax act with effect from 1.4.1991 and that section specifically intended to cover exports of computer software.5. the commissioner was, therefore ..... for the revenue that marketable computer software has the attributes of goods for the purposes of sales tax and also for the purposes of the income tax act, particularly section 80hhc thereof.11. this view has also been taken by the madras high court in commissioner of income tax v. superstar music and another3.12. we see no error in the concession given by learned .....

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Jan 03 2012 (HC)

The Commissioner of Income Tax Visakhapa Vs. M/S.Artos Breweries Ltd., ...

Court : Andhra Pradesh

Decided on : Jan-03-2012

..... amount was spent wholly and exclusively for business purposes so as to be eligible for a deduction under section 37 of the income tax act, 1961 (for short 'the act'). 5. the view of the assessing officer was accepted by the revenue and was not sought to be revised by the commissioner of ..... revenue expenditure. 8. the revenue then preferred an appeal before the income tax appellate tribunal (for short 'the tribunal') and that appeal was rejected by the tribunal. 9. under these circumstances, the revenue has come up in an ..... income tax under section 263 of the act. 6. for the subsequent assessment years, viz., 1983-84 to 1988-89 the assessing officer came to the conclusion that the payments ..... enduring benefit of the business is thus acquired or brought into existence it would be immaterial whether the source of payment was the capital or the income of the concern or whether the payment was made once and for all or was made periodically. the aim and object of the expenditure would determine ..... officer had erred in the view that he had taken. relying on a full bench decision of this court in praga tools ltd. v commissioner of income tax1 the commissioner (appeals) came to the conclusion that the expenditure incurred by the assessee on payment of royalty to mmb was in the nature of .....

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Aug 03 2012 (HC)

Chalasani Venkateswara Rao Vs. Income Tax Officer, Ward-iv

Court : Andhra Pradesh

Decided on : Aug-03-2012

..... of assets to y.kalyana sundaram. moreover, as rightly contended by the assessee, up to the assessment year 1987-1988, section 47 (ii) of the income tax act, 1961 excluded these transactions. from assessment year 1988-89, in the case of dissolution of a firm, only the firm is taxable on capital gains on ..... sold by the partnership to the individual partners in consideration of their respective shares in the residue. the expression "sale" and "sold" are not defined in the income-tax act : those expressions are used in section 10 (2) (vii) in their ordinary meaning. "sale", according to its ordinary meaning, is a transfer of property ..... the appeal by order dated 08-02-2000. aggrieved thereby the appellant has filed the above appeal under section 260-a of the income tax act, 1961. 14. heard sri y.ratnakar, learned counsel for the appellant and sri j.v.prasad, senior standing counsel for the respondent. 15. ..... on dissolution under section 45 (4) of the income tax act, 1961 and not the partner. 13. the i.t.a.t. did not consider the above contentions raised by the appellant before it and dismissed ..... and registered in favour of the other partner. lastly he also contended that up to the assessment year 1987-1988, section 47 (ii) of the income tax act, 1961 excluded these transactions. from assessment year 1988-89, in the case of dissolution of a firm, only the firm is taxable on capital gains .....

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Aug 21 2012 (HC)

The Commissioner of Income Tax, Andhra Pradesh-i Vs. M/S.Bake Food Pro ...

Court : Andhra Pradesh

Decided on : Aug-21-2012

..... act, 1944 have been held to be binding primarily on the basis of the language of the statutory provisions buttressed by the need of the adjudicating ..... m.s. ramachandra rao, j. this appeal is filed under section 260 a of the income tax act, 1961 (hereinafter referred to as the "act") by the revenue challenging the order dated 24-04-2000 in i.t.a.no.1699/hyd/95 (hyderabad 'a' bench). 2. the facts giving rise in filing of this ..... followed and observed by the authorities and other persons employed in the execution of the act. the supreme court in commissioner of customs, calcutta and others vs. indian oil corporation limited and another (2004) 3 s.c.c. 488) held as follows: ".......the circulars issued by the cbdt under the income tax act, 1961 and cbec under section 37-b of the central excise ..... 139 which provided as follows: "s.139(2) : in the case of any person who, in the income tax officer's opinion is assessable under this act, whether on his own total income or on the total income of any other person during the previous year, the income tax officer may, before the end of the relevant assessment year, serve a notice upon him requiring him to .....

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Aug 16 2012 (HC)

M/S.Hastalloy India Limited and Another Vs. the Deputy Commissioner of ...

Court : Andhra Pradesh

Decided on : Aug-16-2012

..... .hastalloy holdings limited (hereinafter referred to as hhl) with the objective of carrying on business of finance. 3. the income tax department carried out search operations under section 132 of the income tax act, 1961 on 28-11-1996 in the business premises of the assessee company as well as the residential premises of the ..... india limited and itta no.24 of 2000 filed by the revenue are appeals under section 260-a of the income tax act, 1961 challenging the order dated 21-09-1999 of the income tax appellate tribunal, hyderabad bench-b in i.t.(ss)a.no.48/vizag/97 for the block period 01-04 ..... of the categorical statements made by the employees of the assessee-company, the tribunal is correct in applying section 69 of the income tax act and treat the f.d.rs. as undisclosed income of the assessee? b) whether the appellate tribunal is justified in sustaining the addition without considering the entire evidence on record? ..... range-i, visakhapatnam, dt.27.11.1997 in pnn/gir.no.h-7). (itta.no.24 of 2000: income tax tribunal appeal under section 260-a of the income tax act-1961 against the order of the income tax appellate tribunal, hyderabad bench b, hyderabad in it(ss).a.no.48/vizag/97 for dt.21.09. ..... block period. in the background of the above facts and circumstances, the assessing officer initiated block assessment proceedings u/s.158 bc of the income tax act, 1961 against the assessee, its associate company hhl and managing director sri g.v.k. rao for the period 01-04-1986 to .....

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