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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1977 Page 1 of about 105 results (0.062 seconds)

Jan 18 1977 (HC)

Additional Commissioner of Income-tax Vs. E. Bhoopathy

Court : Chennai

Decided on : Jan-18-1977

Reported in : [1978]113ITR188(Mad)

..... to the assessment years 1959-60 to 1961-62. for those years, assessments were originally completed under the provisions of section 23(3) of the indian income-tax act, 1922. subsequently, on the basis of the statements of assets and liabilities filed by the assessee showing the position of his wealth as on march 31, ..... the circumstances of the case, the appellate tribunal was right in law in cancelling the penalty levied under the provisions of section 271(1)(c) of the income-tax act, 1961, for the assessment years 1959-60, 1960-61, 1961-62, 1964-65 and 1965-66 2. whether the conclusion of the appellate tribunal ..... was right in law in holding that no penalty was leviable in terms of the explanation to section 271(1)(c) of the income-tax act, 1961, for each of the assessment years 1959-60, 1960-61, 1961-62, 1962-63, 1964-65 and 1965-66 ' 2. as the commissioner ..... in cancelling the penalty levied under the provisions of section 271(1)(c) of the income-tax act, 1961, for the assessment year 1963-64 2. whether the conclusion of the appellate tribunal that there was no concealment of income of the assessee within the purview of section 271(1)(c) is a reasonable view ..... of penalty under section 271(1)(c) was not proper and, therefore, cancelled these penalties. aggrieved by this conclusion of the tribunal, the commissioner of income-tax applied for a reference and got further directions from this court in the manner mentioned above. 8. the question that arises with reference to these years is .....

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Feb 04 1977 (HC)

M.R. Pratap Vs. V.M. Muthukrishnan, Income-tax Officer

Court : Chennai

Decided on : Feb-04-1977

Reported in : [1977]110ITR655(Mad)

..... 193 of the indian penal code, when the said officer deals with less serious offences like the one under sections 277 and 278 of the income-tax act, unless he obtains sanction under section 279(1) of the income-tax act. the reason given by the counsel for this contention is that, normally, the commissioner has got the power to compound the prosecutions for offences under ..... punishable under section 120-b, indian penal code, read with section 193 thereof. along with the complaint, the complainant has filed an authorization under section 279 of the income-tax act made by the commissioner of income-tax, madras central, dated april 23, 1973.4. by the miscellaneous petition, the petitioner has submitted that in case the legal contentions raised in the revision petition as ..... against the petitioner in this case under the provisions of the indian penal code are not legal and proper, cannot be countenanced. further, i find that no provision of the income-tax act has been by-passed.26. the other contention of the learned counsel for the petitioner that the prosecution in this case is premature also falls to the ground in the ..... has vehemently urged, on the basis of the above rulings, that accused no. 1, being the managing director of the company, is liable for prosecution under section 277 of the income-tax act and the word 'person ' occurring in section 277 must be given its ordinary dictionary meaning which would include the individual persons who fail to carry out the duty cast upon .....

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Dec 31 1977 (HC)

Beverley Estates Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-31-1977

Reported in : [1979]117ITR302(Mad)

..... rightly held that the gains arising to the assessee by the sale of the standing shade trees grown by it are assessable under section 45 of the income-tax act of 1961 for the assessment years 1970-71 and 1971-72?'3. the assessee in both the cases is a public limited company owning three coffee ..... of the standing shade trees grown by it are assessable under section 45 of the income-tax act of 1961 for the assessment years 1967-68 and 1969-70 ?' 2. t.c. no. 328 of 1974 :'whether, on the facts and in the ..... assessee, are the following : t.c. no. 326 of 1974:'1. whether the reopening of the assessment under section 147(b) of the income-tax act of 1961 for the assessment year 1967-68 is valid ? 2. whether the gains arising to the assessee by the sale during the relevant previous years ..... of the assessment years 1970-71 and 1971-72.8. we extracts. 147 of the i.t. act, 1961, omitting the explanations, which are not relevant for our present purpose :'income escaping assessment.--if- (a) the income-tax officer has reason to believe that, by reason of the omission or failure on the part of an ..... that 'information whether factual or as regards the state of the law, should be extraneous, extraneous in the sense that it should suggest itself to the income-tax officer otherwise than by his own subsequent rethinking. a change of opinion on his own reappraisal of the facts alreadybefore him cannot constitute 'information' for the .....

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Sep 20 1977 (HC)

A.C. Paul Vs. Tax Recovery Officer and anr.

Court : Chennai

Decided on : Sep-20-1977

Reported in : [1979]117ITR412(Mad)

..... . the circular to which we adverted categorically stated thus :' ...assessees having income in pakistan, which cannot be brought into india, should be asked to pay tax only on the indian income by treating it as the total income for the purposes of the income-tax act. the balance of the tax should be stayed by the income-tax officer under section 220(7).'2. admittedly, as is clear from what ..... 'for the purposes of any expenditure actually incurred by the assessee outside india' in the explanation will include the tax the assessee will have to pay on the foreign income in the foreign country imposed on him under the provisions of the income-tax act applicable in that country. this is an entirely new aspect which does not find a place in the petition and ..... we have already stated, the income arising in india and that which had accrued or arisen ..... in ceylon varied to such an extent that it may be stated that the income arising in .....

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Dec 23 1977 (HC)

Thiagarajar Charities Vs. Additional Commissioner of Income-tax

Court : Chennai

Decided on : Dec-23-1977

Reported in : [1978]114ITR699(Mad)

..... which necessarily implies a motive for profit. it would not fall within the meaning of 'charitable purpose' mentioned in section 2(15) of the income-tax act, 1961. in the present case, the trustees have absolute discretion to utilise the funds of the trust to the one or the other of the ..... purposes within the meaning of the said expression as denned in section 2(15) of the income-tax act, 1961, and that consequently its income for the assessment year 1966-67 is not exempt from tax under section 11 of the income-tax act, 1961 ?' 2. the assessee as the same in both the cases. the questions relate ..... returns for the assessment years 1964-65 to 1966-67 on the basis that it is exempt from tax under section 2(15) of the income-tax act, 1961. after perusing the trust deed, the income-tax officer proposed to treat the assessee as a non-charitable trust and invited objections, which were submitted in ..... within the meaning of the said expression as defined in section 2(15) of the income-tax act, 1961, and that consequently its income for the assessment years 1964-65 and 1965-66 is not exempt from tax under section 11 of the income-tax act, 1961 ?' t.c. no. 252 of 1974. 'whether, on a proper construction ..... from its business in cotton, cotton yarn, cloth, etc., in the assessment years 1964-65 to 1966-67 is not exempt from tax under section 11 of the income-tax act, 1961. we, accordingly, answer the questions referred for our opinion against the assessee and in favour of the revenue. the assessee .....

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Jan 25 1977 (HC)

Commissioner of Income-tax (Central) Vs. Kandaswami Weaving Factory an ...

Court : Chennai

Decided on : Jan-25-1977

Reported in : [1977]110ITR84(Mad)

..... the time prescribed, stated that the income-tax officer 'may direct that such person shall pay by way of penalty,--......in addition to the amount of the ..... due to be filed on or before september 30, 1964, under section 139(1) of the income-tax act, 1961. a notice under section 139(2) of the act calling upon the assessee to file its return of income for the assessment year in question within 30 days from the date of receipt thereof was served on the assessee on august 31, 1964. evelinas per ..... , but not exceeding in the aggregate fifty per cent. of the tax'. however, subsequent to the decision of the supreme court, parliament has amended the relevant provisions of the statute by the direct taxes (amendment) act, 1974, with retrospective effect, viz., from april 1, 1962, i.e., the date on which the income-tax act, 1961, came into force. the relevant amended provision as is now ..... payable or due as on the date of the order of the income-tax officer levying penalty, no penalty was leviable, such a conclusion could have been arrived at only on the basis of the language of the relevant provisions contained in section 271(1) of the income-tax act, 1961. that provision, dealing with the penalty payable for failure to file the return within .....

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Apr 06 1977 (HC)

Additional Commissioner of Income-tax Vs. Southern Structurals Ltd.

Court : Chennai

Decided on : Apr-06-1977

Reported in : [1977]110ITR164(Mad)

..... on the question whether the manufacture of sterile penicillin had started and whether the assessee was entitled to the exemption under section 15c of the indian income-tax act, 1922, for the assessment year 1960-61, it was held that production of articles by the assessee had begun only in august, 1955, ..... at a specified price. being a new industrial undertaking, the assessee claimed relief under section 84 of the income-tax act, 1961. the assessee was granted the relief under section 84 of the income-tax act or its earlier counterpart, as the case may be, up to the assessment year 1963-64. when the ..... facts and in the circumstances of the case, the appellate tribunal was right in law in holding that the benefit of relief under section 84 of the income-tax act, 1961, should be allowed for the assessment year 1964-65 also ' 2. the assessee entered into a contract with the government of india, ministry ..... question of the availability of the relief to the assessee came up for consideration for the assessment year 1964-65, the income-tax officer took the view ..... some commercial sense. 7. this aspect has come in for consideration in a case which arose for consideration of the bombay high court in commissioner of income-tax v. hindustan antibiotics ltd. : [1974]93itr548(bom) . in that case the assessee had undertaken a project for the manufacture of penicillin. it .....

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Jan 24 1977 (HC)

Additional Commissioner of Income-tax Vs. M.B. Rajeswari

Court : Chennai

Decided on : Jan-24-1977

Reported in : [1977]110ITR443(Mad)

..... present reference. this property, 3, gun foundry road, was not in the occupation of a tenant within the meaning of those words in the proviso to section 23 of the income-tax act, 1961. we have already discussed the finding on record that the property was not let at the relevant time. that finding binds us. besides, the facts show, as we have ..... to refer to the history of the relevant statutory provision. the corresponding section dealing with the income from the property in the indian income-tax act, 1922, hereinafter referred to as the 1922 act, was section 9. section 9(2) of that act, before its amendment by the indian income-tax (amendment) act, 1952, stood as follows :(2) for the purposes of this section, the annual value of any ..... whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in holding that municipal tax should be deducted under section 23(1) of the income-tax act, 1961, from the income from owner-occupied property for the assessment years 1968-69 and 1969-70?'2. for the purpose of answering the question referred to above ..... holding that the assessee was entitled to the deduction of the municipal tax from the annual value for the computation of the income from the property. it is, thereafter, at the instance of the department, the income-tax appellate tribunal under section 256(1) of the income-tax act, 1961, hereinafter referred to as the act, has referred the following question for the opinion of this court:' .....

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Feb 09 1977 (HC)

Commissioner of Income-tax Vs. J.K.A. Subramania Chettiar

Court : Chennai

Decided on : Feb-09-1977

Reported in : [1977]110ITR602(Mad)

..... he is to be absolved from liability to have any penalty inflicted upon him. that, it seems to me, is to put a premium on dishonesty and nowhere in the income-tax act do we find any provision which does anything of the kind. the contention that this was a discovery within the meaning of section 22(3) is of course futile. as ..... credit of rs. 2,55,000 should be out of art silk licence.5. thus, the total business income was estimated at rs. 3,13,854. the income-tax officer initiated proceedings under section 271(1)(c) of the income-tax act, 1961, hereinafter referred to as ' the act '. by way of reply to the notice issued by the inspecting assistant commissioner, who proposed to impose penalty ..... 58 (mad) is a decision of this court dealing with the corresponding provisions, namely, section 28(1)(c) of the indian income-tax act, 1922, hereinafter referred to as ' the 1922 act '. in that case, the assessee made a return of his income on august 22, 1928. that return was incorrect to the extent of rs. 34,327. after the assessee had made the return ..... the case, the appellate tribunal was right in holding that the assessee had not concealed the income or furnished inaccurate particulars of income and in cancelling the penalty of rs. 47,500 levied under section 271(1)(c) of the income-tax act, 1961 ?'7. section 271 of the act dealing with the levy of penalty in so far as it is relevant reads as follows .....

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Mar 28 1977 (HC)

M. Chettyappan and ors. Vs. Commissioner of Agricultural Income-tax

Court : Chennai

Decided on : Mar-28-1977

Reported in : [1977]110ITR684(Mad)

..... is to quash this order that this writ petition has been preferred.3. the learned counsel for the writ petitioner draws my attention to section 34 of the kerala agricultural income-tax act, 1950, and states that the power of revision of the commissioner is wide in its amplitude and he has also power to make such enquiry. he is further enabled to ..... pass such orders thereon as he thinks fit subject to the provisions of the kerala agricultural income-tax act, 1950. under the provisions of the act, viz., section 10(1)(e) any sum paid towards the insurance premium is exempt. having regard to these provisions, the rejection of the revisional authority to grant ..... ammonia pvt. ltd. v. state of tamil nadu : [1976]3scr856 .5. having regard to this relative context, let me refer to the relevant section. section 34 of the kerala agricultural income-tax act, 1950, reads as follows :'34. revision.--(1) the commissioner may, of his own motion or on application by an assessee, call for the record of any proceeding under this ..... circumstance that he has shown that receipt as income in his return does not make him liable to tax thereon. an assessee is liable to tax only upon such receipt as can be included in his total income and is assessable under the income-tax act. the law empowers the income-tax officer to assess the income of an assessee and determine the tax payable thereon. in doing so, he may .....

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