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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Page 9 of about 27,421 results (0.108 seconds)

Dec 23 2008 (HC)

The Commissioner of Income Tax Vs. Adar Tea Products Company

Court : Chennai

Reported in : (2009)221CTR(Mad)597; [2009]314ITR38(Mad); [2009]178TAXMAN126(Mad)

..... said definition?2. the assessee had claimed depreciation at 100% on fluid bed drier for the assessment year 1994-95. it was allowed. the notice under section 154 of the income tax act, 1961 ('act' in short) was issued calling for the assessee's objection for withdrawal of the 100% depreciation. the assessee objected to the disallowance. the objections were rejected as untenable since ..... , the words that were construed by the supreme court were 'that is to say'.10. in : [1978]114itr802(mad) [commissioner of income-tax v. arasan fertilisers (p) ltd.], the word used was 'namely'. in item 13 of the fifth schedule to the income tax act, after the word 'fertilizers', the word 'namely' was introduced. our court held that 'namely' would restrict the interpretation of the ..... word to those types of fertilizers that are enumerated and not to all types of fertilizers and answered the reference in favour of the revenue.11. in (2000) 118 s.t.c. 379 [commissioner of sales tax v. popular ..... mentioned herein is an energy saving device.22. for the reasons mentioned above, we answer the question raised in this appeal in favour of the revenue. the order of the income tax appellate tribunal, 'a' bench, chennai, dated 8.4.2003 passed in i.t.a. no. 1105/mds/2002 is set aside and the appeal is allowed.

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Sep 18 2002 (HC)

George Maijo and Co. Vs. the Commissioner of Income-tax

Court : Chennai

Reported in : (2003)179CTR(Mad)494; [2003]261ITR231(Mad)

..... of the appellate tribunal. we are of the view that in view of the decision in associated clothiers ltd. v. commr. of inc.-tax : [1967]63itr224(sc) , this court in a reference under section 256 of the income-tax act has no power to admit or record additional evidence which has not been placed before the tribunal and to consider that evidence. hence, we ..... not properly appreciated the circumstances in which the consortium was formed in order to get the benefit given by the government for the customers. the commissioner of income-tax (appeals) held that the united exports acted only as a medium to channelise the export activities of the member units and after the goods were shipped, if any loss arose, that was a loss ..... the consortium was nothing but a group of certain parties with the object of achieving certain results for earning income. he was of the opinion that the united exports did not act as an agent for the constituent units. he agreed with the income-tax officer that it was the united exports which had imported the goods and the loss so occurred had to ..... of stock-in- trade of the member units. the commissioner of income-tax (appeals) therefore held that the assessee would be entitled to get deduction of the trading loss and .....

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Jun 17 2003 (HC)

Smt. Sushila Vs. Nihalchand Nahata

Court : Chennai

Reported in : AIR2004Mad18

..... next contention of the defendant is that since the property is of value more than rs. 10 lakhs, the parties must have got the clearance from the income tax department, under section 230-a of the income tax act; for that, both parties must file a joint draft application. but, such an application cannot be filed before the land was exempted from the urban land ..... ; that has to be paid only at the time of sale transaction; a draft sale deed was not prepared by her for getting permission under section 230-a of the income tax act; she did not refuse to receive any letters from the defendant; she always had the means to complete the transaction; further, she has stated in the re-examination that the ..... exemption. therefore, the plaintiff is not guilty of breach of this term of the agreement.25. the other condition is to get clearance from the income tax authorities. an application under section 230-a of the income-tax act cap be made only after the grant of exemption by the urban land celling authorities. if any application is made before grant of such exemption, that ..... draft sale deed was forwarded to enable the defendant to secure necessary certificate under section 230-a of the income-tax act. the plaintiff was indifferent towards his obligations. in the year 1986, the income-tax act was amended with the introduction of chapter xx-c, the plaintiff was informed that the law required a joint application to be made to the competent authority for grant .....

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Jun 08 2006 (HC)

Apollo Hospitals Enterprises Limited Represented by Mr. S.K.Venkataram ...

Court : Chennai

Reported in : (2006)206CTR(Mad)426; [2006]287ITR25(Mad); (2006)3MLJ1106

..... company, m/s. deccan hospital corporation limited under a scheme of amalgamation. the assessee has claimed that set off of loss as per the provisions of section 72a of the income tax act, vide form no. 3cd. this section prescribes where there has been an amalgamation of a company owning an industrial undertaking or a ship with another company, then alone the accumulated ..... of certiorari to call for the records on the files of the respondent herein in pan ax 1/015/2000-01 dated 30.03.2005 under section 148 of the income tax act 1961 and quash the proceedings of the respondent in ax1/015/2000-01 dated 30.03.2005 as illegal and without jurisdiction.3. the short facts that are necessary for ..... pradesh high court and this court.(ii) in respect of the assessment year 2000-01 the petitioner submitted returns and claimed the benefit of section 72a of the income tax act (hereinafter referred to as 'the act') to have the unabsorbed depreciation of dhcl as the depreciation of the petitioner. the respondent examined the details of the case and in his letter in g ..... : [1993]203itr456(sc) , their lordships have held while interpreting section 147 as it stood in the assessment year 1963-64:an income-tax officer acquires jurisdiction to reopen an assessment under section 147(a) read with section 148 of the income-tax act, 1961, only if on the basis of specific reliable and relevant information coming to his possession subsequently, he has reasons, which he .....

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Dec 31 2002 (HC)

The Commissioner of Income Tax Vs. Tamil Nadu Sugar Corporation Limite ...

Court : Chennai

Reported in : (2003)182CTR(Mad)61; [2004]265ITR466(Mad)

..... the end of the accounting year when the market value of the stock is at low ebb and thereby the income earned in one accounting year is not taxed which will be against the provisions of the income-tax act, as it will be open to the assessee to finalise and close its accounts at its choice. 21. ..... j.v. gupta and sons(huf) 2000 itr 861 and submitted that the powers of the court under section 256(1) of the income-tax act, 1961 are advisory in nature and this court has no power to reframe a question or consider new issue. we are unable to accept ..... addition of the said sum and completed the assessment.3. the assessee challenged the order of the assessing officer before the commissioner of income tax(appeals), chennai, and the commissioner of income tax(appeals) held that the assessee was not entitled to value the closing stock on the basis of the rate prevailing at some point ..... right but the duty of the assessing officer to act in exercise of his statutory power, as he has done in the instant case, for determining what, in his opinion, is the correct taxable income.'14. this court in asher textiles ltd.,tiruppur v. commissioner of income-tax, madras 1952 itr 125 held that it is a ..... assessment. each year being a self-contained unit, and the taxes of a particular year being payable with reference to the income of that year, as computed in terms of the act, the method adopted by the assessee has been found to be such that income cannot properly be deduced therefrom. it is, therefore, not only .....

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Nov 24 2009 (HC)

KA. Manshoor Vs. Assistant Director, Enforcement Directorate, Governme ...

Court : Chennai

Reported in : [2010]97SCL167(Mad)

..... of the summons. it was stated that the power given to the enforcement directorate under section 37 is the same as that of an income tax officer under the income tax act in terms of section 131. such power is available to deal with the discovery of materials in contravention of foreign exchange violations. it ..... prohibition against the department for having issued the summons by the exercise of the powers vested on them under section 37 read with section 131 of the income tax act. in standard chartered bank and ors. v. directorate of enforcement and ors. reported in : (2006) 4 scc 278 which arose out of the ..... of the issues involved in the suit pending before it. similarly, it seems to us that the officers mentioned in section 131 of the income-tax act have been vested with powers to make the orders as mentioned therein provided they are satisfied that the orders made would be relevant for the ..... but under both the sections it is necessary to apply the mind to determine the question of relevancy of the documents. under section 131 of the income tax act, 1961, the officers mentioned therein have no larger power than a civil court trying a suit, under the code of civil procedure, and the ..... used either under the code of civil procedure or under the code of criminal procedure, but has chosen to apply analogous provisions found in the income tax act. therefore, while interpreting the scope and width of section 37 of fema, one cannot apply the concept of summons as available to a civil .....

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Nov 08 2006 (HC)

Areva T and D India Limited, (Formerly Known as Alstom Ltd.) Vs. the A ...

Court : Chennai

Reported in : (2007)207CTR(Mad)497

..... the assessment and held 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 ..... appellate tribunal was right in law in treating the letter dated 20.12.2004 by the assessing officer is equivalent to a notice prescribed under section 143(2) of the income tax act, 1961 when the letter is nothing but furnishing the reasons for reopening the assessment?2. if the answer to the above question is in affirmative then on the facts and ..... for the assessee relied on this court judgment reported in : [2006]281itr444(mad) in the case of commissioner of income-tax v. m. chellappan. this tax case (a) was filed by the revenue under section 260a of the income-tax act against the order of the income-tax appellate tribunal raising the following substantial question of law:whether on the facts and in the circumstances of the case ..... circumstances of the case the appellate tribunal was right in law in remanding the assessment relating to the assessment year 1999-2000 to the assessing officer to tax depreciable assets under section 50 of the income tax act?7. whether on the facts and circumstances of the case the appellate tribunal was right in law in ignoring that the consideration received by the assessee .....

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Dec 02 2006 (HC)

Selvi J. Jayalalitha, Vs. the Union of India (Uoi), Rep. by Its Secret ...

Court : Chennai

Reported in : [2007]288ITR225(Mad)

..... was submitted that, therefore, there was no merit in the challenge to the constitutionality of the impugned provision. 34. the relevant provisions of the income tax act, 1961 are extracted hereunder:section 139 of the income tax act reads thus :return of income. 139.(1) every person, - (a) being a company or a firm; or(b) being a person other than a company or a firm, if ..... abuse of process of law, it is for the legislature to amend, modify or repeal it, if deemed necessary. the words 'in due time' occurring in section 276cc of the income tax act were interpreted in this decision and it was held that even if a return is filed in terms of sub-section (4) of section 139, that will not dilute the ..... while conceding that there was a shift with regard to the burden of proof, it should be seen that the offences under the income tax act are quite different from the offences under the penal code or like legislations. the income tax act imposes on the petitioners a mandatory obligation to discharge certain duties or to respond to notices etc., and failure to comply with these ..... furnished under section 139.(2) the assessing officer shall, before issuing any notice under this section, record his reasons for doing so. section 276cc of the income tax act reads thus :failure to furnish returns of income. 276cc. if a person wilfully fails to furnish in due time the return of fringe benefits which he is required to furnish under sub-section (1) of .....

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Jan 04 2012 (HC)

Commissioner of Income Tax-i Vs. M/S.Tube Investments of India Ltd-i

Court : Chennai

..... . the next question is, whether, by virtue of the provisions under section 32 of sica, the scheme will have overriding effect on the provisions of the section 43b of the income tax act. for consideration of the said issue, it may be pointed out that in para 4.2.4 of the rehabilitation scheme formulated by the board in its order dated 14 ..... have overriding effect over the provisions of the income tax act in regard to the matters covered in circular no.523 dated 05.10.1988. 7. a reading of both the circulars would show that in the event a scheme has ..... under section 17(2). hence, it was clarified that the orders passed by the bifr under section 17(2) will not have the effect of overriding the provisions of the income tax act. however, subsequently, by circular no.576 dated 31.08.1990, it was further clarified that once the scheme is sanctioned under section 18 of sica by the board, it will ..... 576 are applicable to the facts of the case? secondly, whether the provisions of section 32 of sica would override the effect on the provisions of section 43b of the income tax act ? 6. as far as the said two circulars are concerned, having noticed that section 17(3) of sica excluded the application of sections 41(1), 79 and 115j of the .....

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Dec 22 2011 (HC)

The Commissioner of Income Tax-iii Vs. M/S.Park Trust

Court : Chennai

..... running educational institutions and it has been granted registration under section 12aa of the income tax act by the commissioner of income tax. for the assessment year 2003-04, the assessee trust filed its return of income on 15.12.2003 admitting nil income, after availing income exemptions under section 10(23c) of the act. the case was taken up for scrutiny and a notice under section 143(2 ..... trustee shri.p.v.ravi for purchasing a property during the assessment year 2002-2003; accordingly the violation of section 13(1)(c) of the act is attracted; the assessee had submitted before the commissioner of income tax (appeals) vide para 5 of the grounds of appeal with regard to assessment year 2003-2004 that the referred transaction did not relate to the ..... was right in holding that there was a mistake apparent from the records warranting rectification of its order under section 254(2) of the act? (b) whether on the facts and circumstances of the case, the income tax appellate tribunal was right in law in holding that there was a mistake apparent from the record inasmuch as the decision of the hon'ble ..... 31.03.2008, allowed the appeal filed by the assessee and directed the assessing officer to grant exemption under section 11 of the act to the assessee. as against the same, the revenue filed an appeal before the income tax appellate tribunal in i.t.a.no.1343/mds/2008 and the assessee filed cross objection in c.o.no.158/mds/2008 .....

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