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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Page 4 of about 27,418 results (0.086 seconds)

Dec 19 1997 (HC)

General Exporters Vs. Commissioner of Income-tax

Court : Chennai

Reported in : (1998)149CTR(Mad)138; [2000]241ITR845(Mad)

..... the impugned proceedings dated 10-6-1997 and directed the respondents to pass fresh orders in terms of section 127 of the income-tax act, 1961 ('the act') by complying with the requirements of the said provision. further, the earlier order of transfer was quashed by this court following ..... that in order to have coordinated investigation in this group of cases, the assessee-firm is to be transferred to assistant commissioner of income-tax, central circle viii, new delhi.' 25. on a consideration of the above reasons, set out in paragraph 22 of the impugned ..... also been considered. the first respondent has held thus : 'this is a clear case where the commissioner of income-tax, central ii, new delhi, and the commissioner of income-tax, tamil nadu iii (myself) are in clear agreement that the case is to be assessed along with the ..... act. in order to safeguard the interest of the assessee, an opportunity of being heard is granted and the section further requires reasons to be stated for transferring a case. the decision to transfer can be taken, in a case like the present, only if there is a concurrence between the two commissioners of income-tax ..... who may be concerned with the transfer. when such high functionaries agree to the transfer and a show-cause notice is issued and reasons are contained in the order of transfer and those reasons appear to be germane to the transfer and show that the transfer has been made in the public interest and for a proper adjudication under the act .....

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Apr 20 1998 (HC)

Commissioner of Income-tax Vs. Chennai Properties and Investment Ltd.

Court : Chennai

Reported in : [1999]239ITR435(Mad)

..... deduction of rs. 10,542 which amount had been paid by it to the income-tax department as interest under section 201(1a) of the income-tax act, 1961. the claim so made was rejected by the income-tax officer and that rejection affirmed in appeal by the commissioner of income-tax. the income-tax appellate tribunal, however, on a further appeal by the assessee, held that the ..... be but not paid in time, which rendered the assessee liable forpayment of interest was in the nature of a direct tax and similar to the income-tax payable under the income-tax act. the interest paid under section 201(1a) of the act, therefore, would not assume the character of business expenditure and cannot be regarded as a compensatory payment as contended by ..... placing strong reliance on the recent decision of the supreme court in the case of bharat commerce and industries ltd. v. cit : [1998]230itr733(sc) , that payments required to be made by way of income-tax'under the income-tax act are not deductible as expenditure and the further amounts which a person may be required to pay by a reason of failure ..... . . the liability in the case of payment of income-tax and interest for delayed payment of income-tax or advance tax arises on the computation of the profits and gains of business'. the court further held that (headnote) : 'under the income-tax act, the payment of such interest is inextricably connected with the assessee's tax liability. if income-tax itself is not a permissible deduction under section 37, .....

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Jan 02 2007 (HC)

The Commissioner of Income Tax Vs. Sakthi Finance Ltd.

Court : Chennai

Reported in : (2007)210CTR(Mad)300; [2007]291ITR83(Mad)

..... with reference to the assessment year 1989-90.2. the above batch of references has been made under section 256(1) of the income-tax act, 1961, by the income-tax appellate tribunal, chennai bench 'b', at the instance of the commissioner of income tax, coimbatore, raising substantial questions of law, referred to and dealt with hereunder, arising out of the common order dated 10.1. ..... that the contingent deposit is nothing but sales-tax collected from the lessees on lease rentals and not paid to the government and hence, it has ..... the amount collected as contingent deposit towards the sales tax payable by the assessee is still open to be assessed to tax, since till such sales tax is paid by the assessee out of the contingent deposit, such deposit forms part, of the assessee's income. but the, assessing officer invoking section 43b of the income-tax act, 1961, disallowed the claim of the assessee holding ..... to be disallowed under section 43b and accordingly, added the contingent deposit to the assessee's income.3.3. aggrieved by the .....

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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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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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Feb 10 2012 (HC)

The Commissioner of Income Tax Vs. Ms New Ambadi Estates P. Ltd.

Court : Chennai

..... learned counsel appearing for the revenue contended that the order passed by the tribunal is wrong since the transaction squarely falls within the purview of section 43(5) of the income tax act. the learned counsel contended that the tribunal ought to have appreciated that the non-convertible secured debentures were transferred in favour of the bank and not to the existing shareholder ..... partly convertible debenture is a capital loss?2.whether the tribunal was right in holding that there was delivery of share within the meaning of section 43 (5) of the income-tax act, 1961?3. the erstwhile company viz.,m/s new ambadi investments private limited, who was the assessee before the authorities below, was merged with m/s new ambadi estates private ..... in ita no.2041/mds/1997 for the assessment year 1993-1994.judgmentp.p.s.janarthana raja,j.1. the above tax case appeal is filed by the revenue under section 260a of the income tax act, 1961, against the order of the income tax appellate tribunal, 'b' bench, chennai, dated 28.10.2002 made in ita no.2041/mds/1997 for the assessment year 1993 ..... accounting year ended on 31.03.1993. for the said assessment year, the assessee filed its return of income on 31.12.1993 admitting the loss of rs.10,08,121/-. the said return was processed under section 143(1)(a) of the income tax act on 22.07.1994 and later taken up for scrutiny and notice was issued under section 143(2 .....

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Jun 29 2012 (HC)

Commissioner of Income Tax Vs. Ms. Venkatadhri Constructions

Court : Chennai

..... . the assessee herein admittedly made cash payment exceeding rs.10,000/- in respect of certain business expenditure incurred by him. on the proposal to apply section 40a(3) of the income tax act, the assessee furnished the details which are extracted in the assessment order itself. the assessee contended that the payee was having regular accounts with the assessee as regards the supply ..... cheque clearing operations are suspended or other similar circumstance as aforesaid exists, will not be covered by the provisions of section 40a(3) of the income tax act provided the assessee furnishes evidence to the satisfaction of the income tax officer as to the genuineness of the payment and the identity of the payee. "7. thus, except on those circumstances, narrated under rule 6dd of ..... the income tax rules and as given under 40a(3) of the income tax act, unless there are exceptional and unavoidable circumstances, the payment made in excess of rs.10,000/- by cash would not escape the rigour of section 40a ..... (3) of the income tax act.8. as far as the present case is concerned, none of the circumstances were narrated by the assessee either before the assessing officer or before the appellate authority concerned in .....

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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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