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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1985 Page 4 of about 73 results (0.100 seconds)

Dec 16 1985 (HC)

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

Court : Chennai

Decided on : Dec-16-1985

Reported in : (1987)51CTR(Mad)154; [1987]166ITR244(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 ..... under sub-section (8) or sub-section (9) shall be exercisable by such income-tax officer.'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 ..... 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 .....

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Nov 21 1985 (HC)

Madhav Aluminium Conductors (P.) Ltd. Vs. Income-tax Officer.

Court : Chennai

Decided on : Nov-21-1985

Reported in : [1986]15ITD671(Mad)

..... v. rajagopala rao, judicial member - this is an appeal filed by the assessee against the order of the commissioner cochin passed under section 263 of the income-tax act, 1961 (the act) dated 22-7-1983 and it relates to the assessment year 1976-77. the brief facts of the case are as follows. the assessee is a ..... dated 29-9-1977. the ito gave effect to the aacs orders on 15-10-1977. according to the orders of the ito dated 15-10-1977 income-tax payable by the assessee was reduced to rs. 1,16,609. consequent upon it a refund of rs. 55,263 was issued to the assessee. a ..... payable was rs. 1,71,872. however, as an advance tax of rs. 1,32,300 was already paid by the assessee-company, a demand of rs. 39 ..... show that the issue involved is highly debatable. the ito acted absurdly and erroneously in invoking section 154 to delete the interest already charged. there was no mistake, of law or, of fact, which would be apparent from the assessees records, enabling the income-tax officer to invoke section 154. the assessees application dated 23- ..... private limited company engaged in the manufacture of aluminium conductors. the assessment was completed for 1976-77 on 12-9-1976 on a total income of rs. 2,89,480 on which the income-tax .....

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Jan 24 1985 (HC)

Carborundum Universal Ltd. Vs. Income-tax Officer.

Court : Chennai

Decided on : Jan-24-1985

Reported in : [1986]17ITD305(Mad)

..... accounting period ended 31-8-1977 was completed on 24-7-1981. the assessment was made under the provisions of section 143(3), read with section 144b, of the income-tax act, 1961 (the act), i.e., after reference to the iac and on due consideration of the directions issued by him. we would set out certain facts. the assessment order insofar as the ..... not a case where there was merely an appeal pending before the first appellate authority. the case puthuthotam estates (1943) ltd. (supra) is a case under a tamil nadu agricultural income-tax act, 1955, which deals with provisions akin to section 264 and not the provisions of section 263, which are now under consideration. therefore, the ratio of that case also does not ..... acting under section 33b of the 1922 act, cancelled the order of the ito filing the proceedings and directed him to continue proceedings under section 34 ..... in support of the aforesaid proposition had relied on a judgment of the punjab and haryana high court in cit v. damyanti mehta and yash raj mehta . that was a case in which proceedings under section 34(1) (a) of the indian income-tax act, 1922 (the 1922 act) were initiated but the ito dropped the proceedings by his order proceedings filed. the commissioner thereafter .....

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Feb 28 1985 (HC)

P. Vs. Thyagaraj and Another V. Tax Recovery Officer and Another.

Court : Chennai

Decided on : Feb-28-1985

Reported in : [1987]165ITR413(Mad)

..... petitioners property cannot be proceeded against. another contention put forward by the petitioners is that the recovery proceedings themselves are time-barrier under section 231 of the income-tax act, 1961.the first respondent, the tax recovery officer, has filed a counter-affidavit to the effect that the gift deed having come into existence after the proclamation has been issued regarding the property at ..... firm had been assessed in the years 1947-48 to 1950-51 and 1963-64 and 1964-65. in view of the non-payment of the tax, certificates under section 46(2) of the indian income-tax act, 1922, were issued as early as march 26, 1958, and may 19, 1959. based on the said certificates, recovery proceedings had been initiated. while those recovery ..... . therefore, the petitioners have got an alternative remedy provided by the status. we are, therefore, of the view that the petitioners should go before the tax recovery officer under rule 11 of schedule ii of the income-tax act to challenge the impugned order said to have been passed by the first respondent. therefore, without going into the merits of the rival contentions, we ..... which cannot be undertaken in writ proceedings. on the other hand, we find that rule 11 of schedule ii to the income-tax act provides for such an investigation by the tax recovery officer. in this case, the order passed by the tax recovery officer directing the tenant to pay rents to the department has been challenged as being without jurisdiction and also on the .....

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Mar 19 1985 (HC)

Commissioner of Wealth-tax Vs. M.K. Ananthakumar

Court : Chennai

Decided on : Mar-19-1985

Reported in : [1986]157ITR598(Mad)

..... for the revenue tries to distinguish the said decision of the supreme court as having arisen under the indian income-tax act, 1922, we find that though the said decision was rendered under section 16(3) of the indian income-tax act, 1922, the principle laid down in that case will apply to this case arising under section 4(1)( ..... a)(i) of the wealth-tax act. in that case, an assessee who had certain shares in a company was engaged to ..... x as the wife of the assessee. the question was whether the income from the shares o transferred which arose to the assessee's wife could be included in the total income of the assessee under section 16(3) (a) (iii) of the indian income-tax act, 1922. according to the supreme court, since the transfer of the ..... of the assessee, was not warranted 2. whether the appellate tribunal was right in its interpretation of the provisions of section 4(1)(a)(i) of the wealth-tax act, 1957, to the effect that the words 'to whom such assets have been transferred' would mean to the 'spouse' indicated in the earlier part of the ..... the assessment made for the year included the amount of rs. 1,40,000 as hit by section 4(1)(a)(i) of the wealth-tax act. the stand of the assessee was that since the gift took place before the marriage, section 4(1)(a)(i) was not attracted. the tribunal .....

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Jan 21 1985 (HC)

Sangu Chakra Hotels Private Limited Vs. the State of Tamil Nadu

Court : Chennai

Decided on : Jan-21-1985

Reported in : [1985]60STC125(Mad)

..... etc. it is stated that certain ta reliefs are given under sections 80j and 80hh of the indian income-tax act. they are also entitled to a special depreciation under section 32(1)(v) of the income-tax act. therefore, according to the learned advocate-general, such hotels are a class by themselves and they stand on ..... on the sale of goods and not on the income of a dealer. the other decision is in k. m. mohamed abdul khader firm v. state of tamil nadu ..... that a taxation law is not entitled to claim immunity from the equality clause in the constitution of india (see khandige sham bhat v. agricultural income-tax officer, kasaragod air 1963 sc 591). it is also well established that whenever the state makes any classification and groups together certain persons or things ..... [1985] 58 stc (12) where a similar act which amended the additional sales tax act, 1970 by providing for a different method of computation of the additional sales tax leviable under that act by ..... tax was not a tax on the sale of goods but was a tax on the income of the dealer. the first decision is in s. kodar v. state of kerala : [1975]1scr121 in which it was held that the additional ta levied under the tamil nadu additional sales tax act (14 of 1970) was really a tax .....

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Feb 13 1985 (HC)

Central Board of Excise and Customs Vs. Ashok Leyland, Madras

Court : Chennai

Decided on : Feb-13-1985

Reported in : 1986(7)ECC10; 1985(5)LC2320(Madras); 1985(22)ELT17(Mad)

..... before the tribunal, but that was rejected as out of time. the question was whether a revision could be filed under section 33a of the income-tax act, against the order of the appellate assistant commissioner which has been made the subject of an effective appeal before the tribunal. the said decision squarely ..... ground that it is filed after the prescribed time, the order cannot be said to be the subject of an appeal as, section 33a of the income-tax act excluded, from the purview of revisional powers, orders which have been made the subject of an appeal before the appellate tribunal. there also, an ..... occurring in section 130. 6. in more or less similar circumstances, this court in srinivasalu naidu v. commissioner of income tax - : [1948]16itr341(mad) dealing with the scope of section 33a of the income-tax act, held that the expression 'made the subject of an appeal' occurring in that section should be understood as the ..... - 45 stc 109 fb, had to consider the scope of suo motu powers of revision contained in section 32 of the tamil nadu general sales tax act, 1959. sect. 32 conferred on the deputy commissioner a power of revision in respect of orders passed by any subordinate authority, except in respect of ..... yarn stores v. state of madras, 14 stc 724. in that case, the scope of section 34(2)(b) of the tamil nadu general sales tax act, 1959 was considered. that decision also contained an exclusion in respect of orders which have been made the subject of an appeal. there also, it .....

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Nov 14 1985 (HC)

Commissioner of Income-tax Vs. Sri. Jeya Jothi and Co.

Court : Chennai

Decided on : Nov-14-1985

Reported in : [1987]164ITR318(Mad)

..... claimed it as a bad debt and as a loss arising out of the advances made to the mill and, therefore, deductible as an expenditure. however, the income-tax officer rejected this claim and held that it is a capital loss and disallowed the claim. on appeal, the appellate assistant commissioner, however, held that the ..... a good financier so that the employment of the workers and the capital of the investors could be protected. the assessee-firm, which was granted registration by the income-tax officer, came into existence in june, 1960, primarily, to work shanmugar mill, rajapalayam. a petition was filed before the high court in o.p. no ..... that it is also having money-lending business, cannot conclude the question. in this connection, he referred to the decision in ramnarain sons (p.) ltd. v. cit : [1961]41itr534(sc) . the assessee in that case who was a dealer in shares and securities was also carrying on business as managing agents of other ..... been possible to contend that the advance was in the nature of a premium, as in the decision in cit v. coimbatore pictures private ltd. : [1973]90itr452(mad) . though, as held in ramnarain sons (p.) ltd. v. cit : [1961]41itr534(sc) , the assessee also carrying on business as a money-lender may not conclude the ..... v. ramaswami, j.1. sree shanmugar mill limited, rajapalayam, a company incorporated under the companies act, had incurred heavy losses and was under liquidation and an official liquidator had been appointed by this court in o.p. no. 279 .....

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Mar 08 1985 (HC)

Commissioner of Income-tax Vs. Hackbridge-hewittic and Easun Ltd.

Court : Chennai

Decided on : Mar-08-1985

Reported in : [1985]154ITR378(Mad)

..... shows that the according to the audit, for the assessment year 1965-66 relief under s. 84 of the act has been granted on an excess amount of rs. 45,491 resulting in under assessment of income-tax of rs. 22,060. the reason disclosed is that the ito had given relief admissible under s. 84 ..... the assessment requires revision. a notice under section 154 put up.' 7. however, the further note dated march 25, 1970, reads : 'as directed by the income-tax officer, notice under section 148 put up.' 8. this shows that the ito originally contemplated rectification proceedings to be taken under s. 154 but for reasons best ..... been rightly held that the reopening of the assessments made under section 8 of the surtax act for the assessment years 1965-66 and 1966-67 themselves were not proper and accordingly setting aside the assessment made by the income-tax officer ?' 3. the orders in the original assessment proceedings have not been made a part ..... of the i.t. act in respect of the new transformer production unit on a sum of rs. 1,86 ..... of the statement of the case while reproducing the facts as set out in the statement of the case. the statement of the case relating to the proceedings under the i.t. act shows that .....

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Mar 01 1985 (HC)

Commissioner of Income-tax Vs. United India Roller Flour Mills Limited

Court : Chennai

Decided on : Mar-01-1985

Reported in : (1985)48CTR(Mad)157; [1985]155ITR358(Mad)

..... supreme court in bombay steam navigation co. (1953) pvt. ltd. v. cit : [1965]56itr52(sc) . thereupon, the assessee preferred appeals before the aac of income-tax, madras, contending that r. 1(v) of the second schedule to the surtax act will be applicable and, therefore, the amount of rs. 7,43,750 representing ..... the requirements of the proviso are fulfilled in this case. it is in this connection that the decision of this court in kannapiran mills ltd. v. cit : [1977]106itr947(mad) is apposite. in that case, the assessee borrowed moneys from the madras industrial investment corporation ltd. for the purpose of ..... and ordinary meaning and implies a real borrowing and a real lending. significantly that is absent in this case. the assessee in ramaswami ayyangar v. cit : [1950]18itr150(mad) , who was carrying on business in money-lending, claimed that he was entitled to deduct the interest paid on the ..... we may now briefly refer to the decisions to which our attention was drawn by the learned junior standing counsel in this connection. lakshmanier & sons v. cit & ept : [1950]18itr734(mad) , had to consider the question whether advance of moneys obtained by a selling agent for purposes of distribution of ..... the security deposits were not borrowed money within the meaning of rule 2a of schedule ii to the ept act, 1940. the same question also arose before the supreme court in lakshmanier and sons v. cit & ept : [1953]23itr202(sc) and the supreme court, with reference to the payments received by .....

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