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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1985 Page 2 of about 73 results (0.095 seconds)

Dec 16 1985 (HC)

K.V. Krishnaswamy Naidu and Co. Vs. Commissioner of Income Tax and ors ...

Court : Chennai

Decided on : Dec-16-1985

Reported in : [1987]166ITR240(Mad)

..... commissioner shall not authorities the retention of the books of account and other documents for a period exceeding thirty days after all the proceedings under the indian income-tax act, 1922 (11 of 1922), or this act in respect of the years for which the books of account or other documents are relevant are completed.' sub-section (9a) : 'where the authorised officer has no ..... in case no. 143(9) 85-86/cbe, dated may 24, 1985, and to quash the same. that was an order under section 132(8) of the income-tax act, 1961, hereinafter referred to as 'the act', and that reads as follows : 'the account books and other documents, (i) as per annexure 'ss' - 22 items to the panchanama dated november 28, 1984, (ii) as ..... 135 state that the director of inspection, the commissioner and the inspecting assistant commissioner shall be competent to make any enquiry under the act and for this purpose shall have all the powers that than income-tax officer has under the act in relation to the making of enquiries. it may be seen from these provisions that for the purpose of exercising certain powers ..... sub-section (8) or sub-section (9) shall be exercisable by such income-tax officer.' 6. there is no dispute that the income-tax officer referred to in sub-section (5) is the income-tax officer having jurisdiction over the person under section 124 of the act. it is also not disputed that 'the income-tax officer having jurisdiction over such person' referred to in sub-section (9a) is .....

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Apr 08 1985 (HC)

Prem Nazir Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Apr-08-1985

Reported in : [1986]159ITR182(Mad)

..... no share income actually received from the partnership, there is no question of deduction of interest paid on the capital invested ..... referred to as 'the act', only against the assessee's share income from the partnership and when there is ..... got no share income from the said partnership. the assessee claimed deduction in respect of the interest paid on the capital borrowed as against his total income, which is mainly from his profession as a cine artiste. the assessing authority rejected the said claim on the ground that deduction can be allowed under section 67(3) of the income-tax act, 1961, hereinafter ..... in the partnership. the matter was taken in appeal to the commissioner of income-tax (appeals). the appellate authority also agreed .....

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Mar 14 1985 (HC)

Commissioner of Income-tax Vs. Vasan Publications P. Ltd. and anr.

Court : Chennai

Decided on : Mar-14-1985

Reported in : (1986)52CTR(Mad)354; [1986]159ITR381(Mad)

..... schedule is proper and justified ?"112. the papers will now be placed before the learned chief justice for appropriate further action in terms of section 259(2) of the income-tax act, 1961.ramanujam, j.113. these matters have been posted before me on a difference of opinion between balasubrahmanyan j. and swamikannu j., on the question as to whether ..... , therefore, draw from day of these special definitions and stuff their special meanings into the expression "newspaper production plant and machinery", which carries no statutory definition in the income-tax act and, therefore, must quite certainly set its face against the statutory definitions in other enactments.100. in the course of argument, it was suggested by learned counsel that a ..... or not. in other words, whether the publications "ananda vikatan", "kumudam" and "kalkandu" come within the purview of the definition of "newspaper" under the provisions of the income-tax act, is the object of my discussion.53. in the instant cases before us, whether the publication known as "ananda vikatan" published as a weekly tamil publication at madras and " ..... no.2 of item iii (iii) of part i of appendix i of the income-tax rules, 1962.17. the additional commissioner of income-tax acting under section 263 of the income-tax act, 1961, held that the magazines aforesaid cannot be considered as mere newspapers he, therefore, directed the income-tax officer to correct the rate of depreciation accordingly.18. on appeal, the tribunal perused some .....

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Mar 06 1985 (HC)

Commissioner of Income-tax Vs. Carborandum Universal Ltd.

Court : Chennai

Decided on : Mar-06-1985

Reported in : (1986)50CTR(Mad)145; [1985]156ITR1(Mad)

..... whether, on the facts and in the circumstances of the case, and having regard to the provisions of section 37(2b) of the income-tax act, 1961, the appellate tribunal was justified in deleting 50% of the total entertainment expenditure claimed 2. whether, on the facts and in the ..... in providing customary hospitality to the customers. the ito declined to treat these amounts as business expenditure and added them back while computing the taxable income of the assessee. the assessee then filed appeals before the aac who deleted the disallowance finding that the expenditure related to coffee, tea and other ..... in the special context of the exempting provisions of section 5(1)(xxi) of the act, the words 'set up' present some complexity, crating a stubborn indefiniteness. the proper interpretation of an important provision of a statute, section 5(1 ..... follows (p. 392 of 56 itr) : 'we perused the judgment of this bench of this court in ramaraju surgical cotton mills v. commissioner of wealth-tax : [1962]46itr820(mad) , and we may observe that the learned judges felt some difficulty in construing the words 'set up'. they have observed that ..... to be produced because eight years had already elapsed and the relevant papers necessary were not to be found. relying on the decision of this court in cit v. karuppuswamy nadar & sons : [1979]120itr140(mad) , deduction of the entire amount was claimed. the tribunal, having regard to the view which .....

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Mar 05 1985 (HC)

Commissioner of Income-tax Vs. S. Balasubramanian (Lrs. of T.S. Sriniv ...

Court : Chennai

Decided on : Mar-05-1985

Reported in : [1986]160ITR610(Mad)

..... view of the tribunal has been challenged by the revenue in this case before us. 3. however, a mere reading of section 41(2) of the income-tax act will clearly show that the order of the income-tax officer withdrawing the proportionate initial depreciation granted in the hands of the bigger hindu undivided family by invoking section 41(2) cannot legally be sustained. as ..... tribunal : 'whether, on the facts and in the circumstances of the case, the cost to the assessee for the purpose of computing profit assessable under section 41(2) of the income-tax act, 1961, is the cost at which it was valued in the partition deed and without taking into account the proportionate initial depreciation granted in the hands of the larger hindu ..... . 97,666 had earlier been granted. taking note of the allowance of such initial depreciation in the hands of the larger hindu undivided family, the income-tax officer attempted to bring to charge under section 41(2) of the income tax act, the said amount in the hands of the larger hindu undivided family. when that larger hindu undivided family objected to the same, the ..... income-tax officer proceeded to assess under section 41(2) of the act, the said initial depreciation in the hands of the smaller hindu undivided family headed by balasubramanian .....

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Mar 07 1985 (HC)

Madura Coats Limited Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-07-1985

Reported in : [1986]158ITR697(Mad)

..... hands of the company in whose hands the income is to be assessed. section 198 of the income-tax act, 1961, says that all sums deducted at source shall, for the purpose of computing the income of the assessee, be deemed to be income received. thus, as per section 198, the tax deducted at the source will be the income received by the erstwhile companies which owned the ..... , the tax deducted at source cannot also be given credit to the assessee and no referable question arises. we are ..... dividend income is not to be assessed in the assessee's hands ..... deduction was made. that section contemplates the credit for the tax deducted at source being given only to that person from whose income the deduction has been made. in respect of tax paid by one person, another person cannot get credit under the provisions of the income-tax act. in this view of the matter, 701 on the finding rendered by the tribunal that since the .....

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Feb 25 1985 (HC)

Commissioner of Income-tax Vs. Copes Vulcan Inc.

Court : Chennai

Decided on : Feb-25-1985

Reported in : (1986)57CTR(Mad)244; [1987]167ITR884(Mad)

..... the circumstances of the case, that and having regard to the provision of section 9(1)(vii) of the income-tax act, 1961, the appellate tribunal was right in deleting 30% of the technical services fees treating it as income arising in india and in taxing the assessee foreign company ?' 2. however, we find on the facts and circumstances of this case, that the question ..... the central government as early as on may 3, 1974. the income-tax officer did not accept this claim but proceeded to treat 30% of the amount paid to the ..... the previous year relevant to the assessment year 1978-79. the assessee claimed before the income-tax officer that the payment was for the services rendered by the technical personnel and, therefore, it was exempt by virtue of the proviso to section 9(1)(vii) of the income-tax act inasmuch as the licensing and technical assistance agreement between the two companies was approved by ..... the technical fee paid was as a result of the business connection and, therefore, 30% of the amount has rightly been taxed by the income-tax officer, even though as per section 9(1)(vii) which was inserted by the finance act of 1976 with effect from june 1, 1976, no portion of the technical fees paid could be brought to charge there-under .....

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Sep 16 1985 (HC)

K. Jayaraman Vs. Income-tax Officer, City Circle (1), (2) Coimbatore

Court : Chennai

Decided on : Sep-16-1985

Reported in : [1986]161ITR531(Mad)

..... city circle i(2), coimbatore, in pan py-2276/1(2) dated may 23, 1985, is in accord with section 132(5) of the income-tax act, 1961. 2. a warrant was issued by the director of inspection, madras, for a search of the residential premises of the petitioner at no. ..... the officer is rather not only wild but highly unacceptable to me. it cannot be said that merely because the account books were in madras, the income-tax officer could not have perused these accounts earlier and then put up a draft. nor again is it required on the part of the inspecting assistant ..... assistant commissioner. it does not say, 'after reciting the same in the order'. to my mind it appears that the previous approval only invests the authority, viz., income-tax officer, to make an order under clauses (i), (ii), (iia) and (iii). beyond that, there is nothing peculiar about it. to repeat, it is a ..... hereafter in this section and in sections 132a and 132b referred to as the assets) is seized under sub-section (1) or sub-section (1a), the income-tax officer, after affording a reasonable opportunity to the person concerned of being heard and making such enquiry as may be prescribed, shall, within ninety days of the ..... such a wild accusation. in fact, the draft was put up before the officer concerned on may 21, 1985 (sic), and it was discussed with the concerned income-tax officer. after being satisfied about the reasons given, the draft was approved on april 22, 1985 (sic). thereafter, the impugned order came to be passed. .....

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Mar 13 1985 (HC)

Commissioner of Income-tax Vs. Balmore Estates Private Ltd.

Court : Chennai

Decided on : Mar-13-1985

Reported in : [1987]164ITR687(Mad)

..... tribunal by seeking a reference to this court. however, we find that subsequent to the decision of the tribunal, the assessee brought before this court the assessment under the agricultural income-tax act in t.c. nos. 443 to 445 and 469 to 471 of 1982 - balamore estates private limited v. state of tamil nadu : [1987]163itr195(mad) , relating to the same assessment ..... proceeds of albezia trees are revenue receipts and, therefore, taxable under the provisions of the agricultural income-tax act, as agricultural income, thus upholding the view of the agricultural income-tax officer. once the sale value of the trees is treated and assessed as agricultural income under the provisions of the agricultural income-tax act, the same cannot be treated as capital receipts and charged as capital gains. it is ..... appellate tribunal was right in holding and had valid materials to hold that the sale consideration of albezia trees was in the nature of agricultural income and hence it is not liable to capital gains tax under the income-tax act, 1961 ?' 2. the assessee is a company carrying on business in the manufacture and sale of tea. the assessments for the assessment years 1975 .....

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Mar 13 1985 (HC)

Commissioner of Income-tax Vs. Cheran Transport Private Ltd.

Court : Chennai

Decided on : Mar-13-1985

Reported in : (1986)50CTR(Mad)235; [1986]160ITR630(Mad)

..... ramanujam, j. 1. the revenue in this application filed under section 256(2) of the income-tax act, 1961, seeks a direction from this court to the income-tax appellate tribunal to refer the following two questions for the opinion of this court : '1. whether, on the facts and in the circumstances of the case, the appellate tribunal was ..... . the assessee also claimed depreciation at the rate of 10% in respect of certain buildings located in the various bus termini on the ground that they were factory buildings. the income-tax officer disallowed both these claims put forward by the assessee on the ground that the interest paid is capital in nature and the buildings in respect of which depreciation is ..... of income-tax (appeals) that the interest payable on the compensation was an allowable revenue expenditure holding that even though the compensation may be of a capital ..... his view the registration of buildings as factory buildings under the factories act would be sufficient to prove their use as workshops although they were also used for parking the buses. in this view, the assessee's appeal was allowed. the revenue took the matter in appeal to the income-tax appellate tribunal. the tribunal, however, concurred with the view of the commissioner .....

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