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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1990 Page 1 of about 146 results (0.071 seconds)

Jun 14 1990 (HC)

Commissioner of Income-tax Vs. T.S. Srinivasa Iyer

Court : Chennai

Decided on : Jun-14-1990

Reported in : (1990)85CTR(Mad)175; [1991]192ITR50(Mad)

..... thanikkachalam, j. 1. in compliance with the directions under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), in t.c. nos. 433 of 1979 and 490 of 1977, the tribunal referred the following questions to this court for our opinion ..... chitralaya films, rs. 391 was claimed in respect of kaveri films and rs. 32 was claimed in respect of government of west bengal. according to the income-tax officer, these amounts also related to the discontinued business and, therefore, he refused to allow the same. on appeal, the appellate assistant commissioner confirmed the ..... as stated above, the assessee agreed to reduce the amount to rs. 21,682. this amount was written off on march 31, 1969. the income-tax officer did not allow this amount for the reason that during the previous year relevant to the assessment year under consideration, the assessee did not have ..... the colour laboratory hereunder the above discount was given. according to the income-tax officer, the colour laboratory and the printing department with plant and machinery were already sold to a firm, gemini pictures circuit private limited. therefore, ..... rebate written off in this year related to a discontinued business. on appeal, the appellate assistant commissioner confirmed the disallowance made by the income-tax officer. aggrieved, the assessee filed an appeal before the tribunal. the tribunal, on considering the facts appearing on this aspect, deleted the .....

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Dec 20 1990 (HC)

S. Periannan Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-20-1990

Reported in : (1991)93CTR(Mad)128; [1991]191ITR278(Mad)

..... were both minors, aged 12 and 1, respectively. an application was made on september 14, 1955, for the recognition of the partition under section 25a of the indian income-tax act, 1922. the income-tax officer declined to recognise the partition by his order dated march 29, 1956. sathappa chettiar preferred i.t.a. no. 214 of 1956-57 before the appellate assistant commissioner ..... consequently, the income arising therefrom should be considered as the income of the hindu undivided family for the assessment years ..... , tiruchi, who, by his order dated january 21, 1957, accepted the claim of partition and directed the income-tax officer to make an assessment on that basis. as a result of the partition dated april 13, 1955, the father, sathappa chettiar, became liable to pay to pariannan a certain ..... somasundaram, j. 1. in these tax cases, at the instance of the assessee, the following question of law is refereed to this court under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), for its opinion : 'whether, on the facts and in the circumstances of the case, the property 'grove estate' belongs to the assessee-hindu undivided family and, .....

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Jan 23 1990 (HC)

Anaikar Traders and Estates (P.) Ltd. (No. 1) Vs. Commissioner of Inco ...

Court : Chennai

Decided on : Jan-23-1990

Reported in : (1990)81CTR(Mad)218; [1990]186ITR175(Mad)

..... from letting out of the properties purchased and owned by it and. in that view, brought to tax the income returned asincome from property', subject to the deductions under section 24 of the income-tax act, 1961 (hereinafter referred to as the act'). on appeal by the assessee-company to the appellate assistant commissioner, he took the view that as the records of the ..... assessee-company showed that the assessee was not doing any business in real estate and the income derived by the assessee-company was rental income from the properties acquired ..... the carrying on of business and trading activities in property. 4. we may first point out that under the provisions of the act, there are several heads into which income is divided and though the tax is one, the income may arise from diverse sources with reference to which different rules of computation apply and the manner of computation has also been enumerated ..... in the relevant provisions of the act. however, it must be remembered that the heads of income enumerated in the act are in a sense mutually exclusive and income which appropriately falls under one head, cannot be assigned or subjected to tax under another head. the aforesaid principles are too well-settled. however, the question .....

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Dec 19 1990 (HC)

Chelpark Company Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-19-1990

Reported in : (1991)94CTR(Mad)71; [1991]191ITR249(Mad)

..... period. so holding, the supreme court upheld the capital natural of the expenditure incurred by the assessee as well as its disallowance under section 10(2)(xv) of the indian income-tax act, 1922. applying the aforesaid principles to the present case, it follows that the expenditure incurred by the assesses was in the nature of capital expenditure. in neel kamal talkies v ..... this amount and, therefore, the departmental authorities were justified in disallowing the amount paid by the assessee as a capital expenditure. under section 256(2) of the income-tax act, 1962 (hereinafter referred to as 'the act'), at the instance of the assessee, the following question of law has been referred to the court for its opinion : 'whether, on the facts and circumstances ..... the business and also with a view to bring into existence an enduring benefit or advantage to the assessee. thus regarding the expenditure as an item of capital expenditure, the income-tax officer added back this amount. on appeal by the assessee before the appellate assistant commissioner, on a consideration of the terms of the agreement and the fact that mr. advani ..... the assessment proceedings for the assessment year 1972-73, the assessee claimed that the payment of rs. 1,00,000 should be subjected to tax treatment as an item of revenue expenditure in computing its taxable profits. the income-tax officer disallowed the claim made by the assessee as, according to him, the expenditure was incurred by the assessee once and for all .....

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Nov 05 1990 (HC)

Commissioner of Income-tax Vs. Balakrishna Textiles and Others

Court : Chennai

Decided on : Nov-05-1990

Reported in : (1990)89CTR(Mad)224; [1992]193ITR361(Mad)

..... reference under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), at the instance of the revenue, the following questions of law have been referred to this court for its opinion in relation to the assessment years 1962-63 to 1964- ..... the finalisation of the assessments in the manner aforesaid, proceedings under section 271(1)(c) of the act were also initiated and the cases for levy of penalty were referred to the inspecting assistant commissioner of income-tax madras, under section 274(2) of the act. after the issue of a show cause notice and considering the stand taken by the assessees in response ..... ]153itr687(mad) , the assessee, after filing a return of income, filed a petition before the commissioner under section 271(4a) of the act, admitting that the entries in the books of account were not real, but reiterating that the income relevant for the assessment year was the same as that returned earlier. the income-tax officer found that the assessee had trafficked in the licences ..... particulars thereof. in the view so taken, the inspecting assistant commissioner of income-tax levied penalty of different amounts with reference to each one of the assessees for the assessment years in question, inclusive of the assessment year 1964-65 in respect of which the explanation inserted by the finance act, 1964, with effect from april 1, 1964, stood attracted. aggrieved by this .....

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Jun 14 1990 (HC)

Commissioner of Income-tax Vs. C.R. Niranjan

Court : Chennai

Decided on : Jun-14-1990

Reported in : (1990)84CTR(Mad)259; [1991]187ITR280(Mad)

..... in that case in the light of the provisions contained in sections 16(3)(a) and 24(2) of indian income-tax act, 1922, and the explanation added by the finance act, 1979, to section 64 of the income-tax act, 1961, the supreme court held as under (at p. 340) : 'in view of the aforesaid and in ..... opinion : '(1) whether, on the facts and in the circumstances of the case and having regard to the provisions of section 27(1)(c) of the income-tax act, 1961, read with the explanation thereto, the appellate tribunal was right in reducing the penalty from rs. 2,53,351 to rs. 45,737 on the ..... foods : [1976]105itr708(ker) . in this case, one of the questions referred to the opinion of the high court was whether the word 'income' occurring in section 271(1)(c) of the income-tax act, 1961, refers to a positive figure only and not to a loss, while deciding this question. the kerala high court held as under (headnote ..... that this decision was rendered in accordance with the provisions contained in the abovesaid sections in the indian income-tax act, 1922. even according to this decision, the income must be computed in the manner laid down in the act in order to come within the purview of the definition given under section 2(15). 12. ..... therefore, that decision is distinguishable on the facts appearing in the present case. 20. clause (iii) of section 271(1) of the income-tax act, 1961, as it stood during the relevant assessment year was as under : 'in the cases referred to in clause (c), in addition to any .....

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Mar 22 1990 (HC)

Commissioner of Income-tax Vs. Devi Chit Fund

Court : Chennai

Decided on : Mar-22-1990

Reported in : [1990]186ITR738(Mad)

..... justify that conclusion, it is not open to the high court in a reference under section 66 of the indian income-tax act to reappreciate the evidence. in doing so, the supreme court referred to the following observations of the privy council in cit v. s. m. chitnavis [1932] 2 comp cas 464; [1932] 6 itc 453(at p. ..... ratnam, j.1. at the instance of the revenue, under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), the following questions of law have been referred to this court for its opinion : (1) whether, on the facts and circumstances of the ..... should have written off a major portion of the debt even in 1929. it was held that there was no material to support the finding of the income-tax authorities that the debt had become bad even in 1929 and should have been written off in that year, but that on the materials, there was no ..... effect that there was no prospect of any dividend being declared, the assessee wrote off the debt, as a bas debt, in 1936-37. the income-tax authorities took the view that it was possible for the assessee even in 1929 to know from the schedule filed by the insolvents that the debt was irrecoverable ..... incurred heavy losses and had closed down their business and their properties had also vested in the official receiver owing to their adjudication as insolvents. the income-tax officer took the view that the write-off was premature, as the official receiver had not declared any dividend and disallowed the claim of the assessee for .....

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Jun 14 1990 (HC)

Commissioner of Income-tax Vs. Gemini Pictures Circuit (P.) Ltd.

Court : Chennai

Decided on : Jun-14-1990

Reported in : (1990)85CTR(Mad)7; [1991]188ITR101(Mad)

..... . 1,83,000 on march 26, 1965. as the estimate wa not filed before the due date, the assessee was held liable to pay penalty under section 273 of the income-tax act, 1961.' 16. on these facts, the gujarat high court held as under. 'that having regard to the tenor and tense of the language used in section 273(b) read with ..... referred the following question for our opinion : 'whether, on the facts and in the circumstances of the case and having regard to the provisions of chapter xvii-c of the income-tax act, the appellate tribunal was correct in holding that the payment of rs. 3,20,000 made on march 30,1968, in pursuance of an invalid estimate should be taken into ..... account for the purpose of computing the penalty under section 273(a) of the income-tax act, 1961, for the assessment year 1968-69 ?' 2. the income-tax officer demanded advance tax of rs. 3,38,711 for the assessment year 1968-69 under section 210 of the income-tax act, 1961. the assessee filed an estimate on june 14, 1967, in which he estimated the ..... tax at rs. 17,550. the assessee filed another estimate on march 30, 1968, estimating the tax at rs. 6,32,500. the income-tax officer pointed out that the latter estimate was invalid, having been filed .....

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Nov 22 1990 (HC)

Commissioner of Income-tax Vs. K. Govindarajulu Naidu

Court : Chennai

Decided on : Nov-22-1990

Reported in : [1991]190ITR318(Mad)

..... ratnam, j.1. at the instance of the revenue, under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), the following two questions of law have been referred to this court for its opinion, in respect of the assessment year 1964-65 : '( ..... appellate tribunal was right in law in holding and had valid materials to hold that the assessee has not concealed his income for the assessment year 1964-65 ?' 2. the assessee had not been assessed to income-tax till the assessment year 1963-64. with effect from january 1, 1964, the assessee became a partner of the ..... amount covered by the borrowings for assessment under the head 'other sources'. the income-tax officer completed the assessment determining the total income of the assessee at rs. 92,584 and initiated action for levy of penalty for alleged concealment of income and referred the case to the inspecting assistant commissioner who issued a noti notice ..... and, under the explanation to section 271(1) of the act, the assessee had failed to prove that the failure to return the income was not on account of fraud or any gross or wilful neglect on his part and levied a penalty of rs ..... and did not in fact pay any cash and that, as soon as the notice under section 148 of the act came to be served, the assessee had come forward to admit the concealed income and, under these circumstances, the stand of the assessee that the loans were genuine was only an after-thought .....

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Feb 15 1990 (HC)

Commissioner of Income-tax Vs. S.R. Kandan Chettiar and Sons

Court : Chennai

Decided on : Feb-15-1990

Reported in : (1990)82CTR(Mad)84; [1990]186ITR339(Mad)

..... blue mountain engineering corporation : [1978]112itr839(mad) , this court ruled that in spite of the slight change in the phraseology between section 3 of the indian income-tax act, 1922, and section 4 of the 1961 act, the income-tax officer continues to have an option to assess either the unregistered firm or the individual partners there of and the assessment of a firm after a ..... that decision would not, therefore, be of any assistance to the revenue. we, therefore, hold considering the provisions of section 3 of the indian income-tax act, 1922, and sections 2(31) and 4 of the 1961 act, that the income-tax officer had an option to assess the association of persons as a unit of assessment or the members of the association as individuals in ..... granted registration to the said firm for the assessment years 1960-61 and 1961-62 and completed the assessments as well. however, the commissioner of income-tax, in the proceedings taken under section 33b of the indian income-tax act, 1922, was of the view that the reconstituted partnership was invalid in law and that, therefore the assessee was not entitled to the benefit ..... the members of such an association individually. to similar effect is the decision in j. c. thakkar v. cit : [1955]27itr658(bom) , where it has been laid down that the indian income-tax act, 1922, advisedly and clearly gives an option to the income-tax authorities either to assess the unregistered firm and then proceed to assess each individual partner of that firm or not .....

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