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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Page 3 of about 27,418 results (0.370 seconds)

Feb 20 2012 (HC)

Mrs.R.inbavalli Vs. the Income Tax Officer

Court : Chennai

..... extent, though we uphold the orders of the assessing officer and the appellate tribunal that the perquisites of business is profit under section 28)iv) of the income tax act, we set aside the orders of the lower authorities only insofar as the determination of rs.5,00,000/- in the absence of any details furnished by the ..... and 1998-99. the assessee is a dealer in electronic appliances, namely, tvs, vcrs, refrigerators and other home appliances. a survey under section 133a of the income tax act was conducted in the business premises of the assessee on 3.4.98 and the statements regarding various business activities were recorded and the books of accounts for the ..... and 1998-1999 respectively.judgment(judgment of the court was delivered by d.murugesan, j.)1. the assessee has filed the present tax case appeals under section 260a of the income tax act, 1961 against the order of the income tax appellate tribunal, chennai 'b' bench dated 24.2.2004 made in i.t.a.nos.969/mds/2002, 970/mds/ ..... .1: it is seen from the order of the assessing officer that a survey was conducted under section 133a of the act in the business premises of the assessee on 3.4.98 by the income tax officer, cib-ii, during which physical inventory of stock was taken and the books pertaining to the financial year 1996-97 ..... appeals under section 260a of the income tax act, 1961 against the order of the income tax appellate tribunal, chennai 'b' bench dated 24.2.2004 made in i.t.a.nos.969/mds/2002, 970/mds/2002, 971/mds/2002 .....

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Feb 13 2012 (HC)

The Commissioner of Income Tax-i Vs. Ms Gec Alsthom India Ltd.

Court : Chennai

..... for all the purposes under section 195 of chapter xxxv of the code of criminal procedure, 1898. it has been conferred with such power under section 131 of the income tax act. that provision empowers the appellate tribunal to have the same powers that are vested in a court under the code of civil procedure, 1908, when trying a suit in ..... (2009) 317 itr 433 (shivsagar veg. restaurant v. assistant commissioner of income tax and another). as against the order of the commissioner of income-tax (appeals), the assessee or the revenue as the case may be preferred a further appeal to the income tax appellate tribunal under section 253 of the income tax act. the income tax appellate tribunal is constituted under the provisions of section 252 of the ..... re-calculation of the eligible profit under section 32ab by deleting the expected return of customs duty, which was not included in the computation of income is an error rectifiable under section 154 of the income tax act?2.the assessee is engaged in the manufacture of electrical items. the relevant assessment year is 1987-88 and the corresponding accounting year ended ..... act and the tribunal shall consist of as many judicial and accountant members. sub section (6) of section 255 reads as under : 255( .....

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Jul 06 2012 (HC)

Dr.(Smt) P.K.Vasanthi Rangarajan. Vs. the Commissioner of Income Tax

Court : Chennai

..... by the appellant to the developer in september 1999 for development of the property under the development agreement would fall within the purview of section 2(47)(v) of the income tax act, 1961 and therefore transfer for the purpose of assessment of capital gains took place in the previous year relevant to the assessment year 2000-01?(ii) whether on the facts ..... the appellant owned a residential property as on the date of transfer i.e., september 1999 and that therefore she is disqualified to claim exemption under section 54f of the income tax act, 1961?2. the assessee is an individual, a doctor by profession. it is an admitted fact that the assessee owns a property situate in 828 and 828a, poonamallee high road ..... favour of kalaiarasi udayashankar.4. in the returns filed for the assessment year 2001-02, the assessee claimed the benefit of exemption as provided for under section 54f of the income tax act. the said claim was sought to be rejected by the assessing authority on the ground that persons who own a residential house as on the date of transfer, would not ..... the assessee.6. learned senior counsel appearing for the assessee, even though raised a ground with reference to clause (v) of section 2(47) of the income tax act and section 53a of the transfer of property act as regards the part-performance of the agreement and the assessment of capital gains in the assessment year 2000-2001, however, she confined her arguments to .....

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Apr 12 2000 (HC)

The Life Insurance Corporation of India, Southern Zonal Office, L.i.C. ...

Court : Chennai

Reported in : 2000(3)CTC93; [2000]245ITR224(Mad)

..... in the office of life insurance corporation of india praying for the issue of a writ of mandamus to forbear the respondents and other assessing authorities under the income tax act from levying, assessing and demanding income tax from the members of the petitioner association in respect of additional conveyance allowance. 3. the officers of the life insurance corporation of india are paid additional ..... took the view that the additional conveyance allowance is liable to be included as part of the salary. according to the income tax department, it was not covered by section 10(14) of the income tax act 1961 read with rule 2-ub and consequently not eligible for exclusion. the said order was challenged by way of revision before the commissioner who, by an ..... and in the changed circumstances, the said decision cannot be invoked. 5. chapter iii of the income tax act, 1961 provides for incomes which do not form part of total income. under section 10, income falling under the clauses set out thereunder shall not be included in computing the total income of the previous year. sub-section (14) deals with special allowance. the said provision was ..... order dated 25.11.99, rejected the revision confirming the order of the income tax officer. they have followed the decision of this court in .....

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Nov 23 1998 (HC)

Commissioner of Income-tax Vs. Smt. P. Andal Ammal and anr.

Court : Chennai

Reported in : [2000]243ITR715(Mad)

..... purpose of the case, are reproduced as under : '56. income from other sources.--(1) income of every kind which is not to be excluded from the total income under this act shall be chargeable to income-tax under the head 'income from other sources', if ..... by way of rent in respect of the lodging house is assessable under the head 'income from house property' or under the head 'income from other sources'. 2. as the question involves an interpretation of the provisions of section 56(2)(iii) of the income-tax act, 1961 (for short, 'the act'), the provisions of the section, in so far as it is relevant for the ..... it is not chargeable to income-tax under any of the heads specified in section 14, items a to e ..... . (2) in particular, and without prejudice to the generality of the provisions of sub-section (1), the following' income shall be chargeable to income-tax under the head 'income from other .....

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Jan 20 1998 (HC)

Chennai Murasu (P.) Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [1999]239ITR269(Mad)

..... the bombay high court was as to whether information within the meaning of section 34(1)(b) of the indian income-tax act, 1922 (comparable to the provisions of section 147(b) of the income-tax act, 1961) may be obtained by the income-tax officer from his own record for reopening of the assessment 23. in order to understand the implications of the question ..... for consideration was as to whether the facts discovered during the assessment proceedings of a subsequent year would constitute 'information' within the meaning of section 147(b) of the income-tax act.47. in answering the question so posed, a division bench of this court held that facts discovered during the assessment proceedings of a subsequent year would constitute 'information' ..... that apart, he would say the facts discovered during the assessment proceedings of a subsequent year would constitute 'information' within the meaning of section 147(b) of the income-tax act and reassessment proceedings based on such information are valid.16. the tenability or otherwise of the rival submissions of either counsel may now fall for consideration in the arena ..... branch 'd', madras (the tribunal). it was contended by the revenue before the tribunal that there was: sufficient information to initiate proceedings under section 147(b) of the income-tax act, whereas the contention of theassessee was that the information was irrelevant and had no nexus with the facts of the relevant assessment years for making the assessments.11. the appellate .....

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Sep 18 2002 (HC)

The Commissioner of Income-tax Vs. Bradford Trading Company (P) Ltd.

Court : Chennai

Reported in : (2003)179CTR(Mad)324; [2003]261ITR222(Mad)

..... and exclusively in connection with the said sale and it was allowable as a deduction under section 48(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'). the income-tax officer rejected the claim of the assessee on the ground that the company petition was filed by a.m. buhari claiming ..... the transfer of the capital asset. 4. the assessee, aggrieved by the order of the income-tax officer, filed an appeal before the commissioner of income-tax (appeals) and the commissioner of income-tax (appeals) upheld the order of the income-tax officer holding that the expenditure incurred did not relate to the sale of the property and ..... treated as a part of sale consideration. the income-tax officer also disallowed the balance sum of rs.50,000/- paid by the assessee company to a.m. buhari and the legal expenditure incurred in ..... the expenditure and the matter was settled between the majority and minority shareholders and the assessee company had nothing to do with the compromise. the income-tax officer therefore held that the sum of rs.1.5 lakhs received from m/s. india tobacco company ltd. by way of reimbursement should be ..... the assessee company had disclosed capital gain of a sum of rs.1,06,490/- in its return for the assessment year 1974-75. the income-tax officer was of the view that the capital gain shown by the assessee company was on the low side and proposed certain additions. the case .....

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Sep 08 2006 (HC)

Bapalal and Co. Exports Vs. the Joint Commissioner of Income Tax (Osd)

Court : Chennai

Reported in : (2007)208CTR(Mad)330; [2007]289ITR37(Mad)

..... to re-open the assessment.13. in the light of the discussion made above and in view of the supreme court rulings (supra) and also the relevant provisions of the income tax act already dealt with, i am of the considered view that the impugned order is liable to be set aside and accordingly, it is set aside and the writ petition is ..... and ors. (sc), observed as follows:we see no justifiable reason to interfere with the order under challenge. however, we clarify that when a notice under section 148 of the income tax act is issued, the proper course of action for the noticee is to file a return and if he so desires, to seek reasons for issuing notices. the assessing officer is ..... the expiry of one year from the end of the financial year in which the notice under section 148 was served.10. having dealt with the relevant provisions of the income tax act, let met now proceed to analyse the various case laws necessary for deciding this appeal and they are as under:i. in the judgment of the supreme court reported in ..... to be dismissed.9. before proceeding to consider whether the impugned order is sustainable or not, it would be proper for this court to refer to certain sections of the income tax act and they are as under:assessment - section 143(1)where a return has been made under section 139, or in response to a notice under sub-section (1) of section .....

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Jul 30 2002 (HC)

Commissioner of Income-tax Vs. Mrs. Kalavathy

Court : Chennai

Reported in : [2003]260ITR361(Mad)

..... and one of the transferees is the respondent herein in the appeal.3.the competent authority, notified by the central government under the provisions of chapter xx-a of the income-tax act, 1961, initiated proceedings for acquisition of the property and the publication of notice in the official gazette was made under section 269d(1) of the ..... (ker) and also the decision of the punjab and haryana high court in sutlej chit fund and financiers (p.) ltd, v. cit . teamed senior standing counsel, therefore, submitted that the presumption under subsection (2) of section 269c of the income-tax act would be available to the competent authority even prior to the publication of the notice in the official gazette under section 269d ..... of the act for initiating the proceedings for the acquisition of the property.6. learned counsel appearing for the respondent referring to the ..... and the view of the tribunal that the presumption as contemplated under section 269c(2) of the act was not available to the competent authority at the time of initiation of proceedings is erroneous. he submitted that the report of the inspector of the income-tax department estimating the fair market value would constitute the material for the competent authority to form a .....

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Jun 12 2012 (HC)

Commissioner of Wealth Tax Chennai. Vs. N. Thanu

Court : Chennai

..... were liable to be refunded on certain contingencies arising.8. in the circumstances, referring to the order of the income tax appellate tribunal in a case arising under the income tax act learned counsel submitted that the advance fee received should not be included in the asset of the assessee since the ..... the net wealth is concerned, the question arising in the revenue appeal, the income tax appellate tribunal referred to the assesse's own case under the income tax act for the assessment years 1991-92 to 1997-98. the income tax appellate tribunal held that the advance tuition/course fees received should not be treated ..... as income in the year of receipt without it being accrued as income of the assessee in the relevant year. the income tax appellate tribunal ..... the assessment year 1992-93.judgment(judgment was delivered by chitra venkataraman,j.,)1. the revenue has filed the appeal against the order of income tax appellate tribunal, b bench dated 29.11.2004 in ita no.70/(mds)/96 (mds)/2003 for the assessment year 1992-93. the following ..... same is not treated as income in the year of receipt. in the said case the tribunal had agreed with the .....

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