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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Page 4 of about 27,418 results (0.127 seconds)

Mar 18 1998 (HC)

Commissioner of Income-tax Vs. A.T. Balakrishnan (Decd.) and ors.

Court : Chennai

Reported in : [1999]238ITR801(Mad)

..... not be included in his individual assessment. it was also submitted on behalf of the assessee that non-filing of application under section 171 of the income-tax act would not enable the income-tax officer to include the income from the properties as they ceased to belong to him. it was also submitted that the claim for recognition of the partial partition was made on ..... into the hotchpot and partial partition took place in the same year, there is no need to pass an order under section 171 of the income-tax act. in our opinion, this contention overlooks the fact that there was already an existing joint family and it was hitherto assessed as such and therefore, when some of the properties ..... .23. therefore, in view of the categorical pronouncement of the supreme court in the aforementioned cases, the view of the appellate tribunal that the order under section 171 of the income-tax act need not be passed for partial partition is not sustainable in law. we also do not accept the contention urged by learned counsel for the assessee that since the throwing ..... was no physical distribution of properties and the tribunal committed an error in law in holding that there was no need to pass an order under section 171 of the income-tax act. he submitted that there was no need to redistribute the properties which were already allotted to bose and sivaprakash and, therefore, there was no need to throw the properties by .....

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Jun 30 2009 (HC)

The Commissioner of Income Tax-i Vs. Forbes Tea Brokers

Court : Chennai

Reported in : (2010)228CTR(Mad)174

..... 40a(2) in respect of services charges paid by the assessee to m/s. forbes ewart & figgis (p) ltd., cochin could not be disallowed under section 40a(2) of the income tax act for the assessment years 1987-88, 1988-89, 1990-91, 1991-92 and 1992-93?11. the issue involved in all these cases, the issue of liability of service charges ..... . in respect of such auction, the assessing officer found that the payment made as per the agreement was excessive in nature and by applying section 40a(2)(a) of the income tax act, disallowed those payments made to the company for the assessment year 1987-88 to the tune of rs. 9,92,496/-. similar disallowance of rs. 10,50,000/-, rs. 1161 ..... 1992-93 respectively.6. aggrieved against such assessment orders made by the assessing officer, the assessee filed appeals before the commissioner of income tax (appeals). before the cit (appeals), the assessee contested the disallowance made under section 40a(2) of the act. it was contended that mr.o.thomas, though an agent-cum-chief executive of the assessee firm, is also a director of ..... the assessing officer in the year 1991, which is as follows:the firm is constituted under the partnership act and a valid partnership deed exists. it is also seen that all the partners are assessed to income-tax and many of them are in the higher income brackets. two companies are also holding about 40% interest in this partnership firm. the profit earned by .....

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Oct 10 2002 (HC)

Shri M. Ct. Muthiah, Huf-ii Vs. the Commissioner of Income Tax

Court : Chennai

Reported in : (2003)180CTR(Mad)238

..... tribunal hereinafter referred to as 'the tribunal', at the instance of the assessee has stated a case and referred the following question under section 256(1) of the income tax act, 1961.'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the inspecting assistant commissioner had jurisdiction under section 144b ..... of the income tax act 1961 to direct the income tax officer to include a sum of rs.1,51,152/- as income from horse racing in computing the total income of the assessee which sum was not originally included by the income tax officer in his draft assessment order, for the assessment year 1978-79?'3 ..... facts and in the circumstances of the case, the appellate tribunal was correct in law in holding that the income derived by the assessee from lease of horses and sale of horses arising out of a 'hobby' and cannot be taxed under the income tax act? 2. whether on the facts and in the circumstances of the case, the appellate tribunal was right in holding ..... not in accordance with the law.25. the tribunal also referred to section 74a(a) of the income tax act,1961. section 74a(2) refers to computation of income to be made in respect of activity of owning and maintaining race horse. this court in 'commissioner of income tax .vs. m.a.chidambaram' 243 i.t.r.260 considered the provisions of section 74a of the .....

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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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Feb 13 2012 (HC)

The Director of Income Tax Vs. the Chartered Accountant Study

Court : Chennai

..... , etc., cannot be construed to be one of commerce in nature. the finding of the tribunal in this regard requires no interference.10. that apart, under section 12aa of the income-tax act, while considering the application, the officer has to satisfy about the genuineness of activities of the trust or the institution and for that reason, he may also make such enquiries ..... . on a challenge to the said order, mr.t.ravikumar, learned standing counsel for the revenue, would submit that in terms of first proviso to section 2(15) of the income-tax act, in the event the activities of the trust involve the carrying on of any activity in the nature of trade, commerce or business or any activity of rendering any service ..... for educational purposes, as may be decided by the committee.3. the assessee-trust filed an application in form 10g to the director of income-tax (exemptions), chennai for grant of renewal under section 80g of the income-tax act. the said request was rejected on the ground that the assessee was publishing and selling books of professional interest to be used as a reference ..... , etc. and its activities are commercial in nature and will fall within the amended provision of section 2(15) of the income-tax act. being aggrieved by the said order, the assessee preferred an appeal to the income-tax appellate tribunal.4. considering the materials placed before it, the tribunal found that inasmuch as the assessee was conducting courses and seminars and was also publishing .....

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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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Jul 24 2012 (HC)

Ms.Nicco Uco Alliance Credit Limited. Vs. the Deputy Commissioner of I ...

Court : Chennai

..... appeals filed under section 260a of the income tax act, 1961 against the order of the income tax appellate tribunal "b" bench, chennai, dated 20.1.2005 in ita no.26/(mds)/97 and ita no.59(mds)/98.judgment( ..... the doubtful debts actually written off in the accounts as against the provisions made. aggrieved by the assessment, the assessee went on appeal before the commissioner of income tax (appeals). the assessee contended that a sum of rs.36,22,691/- was an allowable deduction. even though the same was described as a provision, ..... and loss account. consequently, the assessee sought for a relief that the claim as bad debt be allowed under section 36(1)(vii).3. the commissioner of income tax (appeals) allowed the claim of the assessee following his earlier order. aggrieved by this, the revenue went on appeal before the tribunal. the tribunal allowed ..... 3.1993.5. learned counsel appearing for the assessee also placed reliance on the decision reported in [2010] 323 itr 166 (vijaya bank vs. commissioner of income tax) and pointed out that when the assessee had debited the profit and loss account, the doubtful debts are simultaneously taken to the balance sheet, bringing the ..... standing counsel appearing for the revenue, contended that while the law laid down in the decision reported in [2010] 323 itr 166 (vijaya bank vs. commissioner of income tax) would guide the issue on appeal, the facts herein, however, do not entitle the assessee, the relief. he pointed out that even as per the accounts .....

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Jul 18 2012 (HC)

M.Loganathan. Vs. the Income Tax Officer

Court : Chennai

..... on the ground that the matter is pending before the settlement commission is sustainable in law?(ii) on a proper reading of section 246a and section 251 of the income tax act, is not the income tax appellate tribunal is bound to consider the appeal on merits?(iii) is not the order of the first appellate authority dated 30.3.2000 is vitiated by non ..... )-xii, chennai. it is a matter of record that in the meantime, on 19.07.1999, the assessee moved the settlement commission under section 245c of the income tax act for settlement of the assessment relating to assessment years 1992-93, 1993-94, 1996-97 and 1997-98. it is an admitted fact that as on the date of filing ..... tribunal.20. in considering the question as to the withdrawal of the appeal from the files of the commissioner of income tax (appeals), we do not think, the question of objection or no objection could play any role. section 251 of the income tax act deals with the powers of the commissioner of appeals as ranging from affirming, reducing, enhancing or annulling the assessment. explanation ..... 245d, until an order is passed under section 245d(4), the settlement commission shall alone have the exclusive jurisdiction to exercise the power and perform the function of an income tax authority under the act in relation to the case. under section 245d(7), when the settlement becomes void as provided under section 245d(6), the proceedings covered under the settlement application shall .....

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Jul 17 2012 (HC)

Ms.The United Nilagiri Tea Estates Co. Vs. the Deputy Commissioner of ...

Court : Chennai

..... appeal filed by the assessee, relating to the assessment year 1998-99:"whether the tribunal was right in law in holding that the interest income has to be taxed on accrual basis under section 145 of the income tax act, though the same has become irrecoverable? "2. it is seen from the facts herein that the assessee advanced loan of rs.25 lakhs ..... of taxation is income, if the income does not result at all, there could be no ..... tax. irrespective of the method of accounting, there could be no tax on a hypothetical income.6. the ..... electricity co. ltd. v. commissioner of income-tax), considering the question as to whether, in a mercantile system of accounting, on a mere accrual of an income, there could be any assessment made on a hypothetical income, the apex court pointed out that income tax act recognises the accrual of income or its receipt on which the liability to tax is attracted. however, when the subject matter .....

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