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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1997 Page 1 of about 381 results (0.100 seconds)

Sep 11 1997 (HC)

General Exporters Vs. Commissioner of Income-tax and Another

Court : Chennai

Decided on : Sep-11-1997

Reported in : [1998]234ITR860(Mad)

..... the decisions cited by either side. in pannalal binjraj v. union of india : [1957]31itr565(sc) , the apex court while upholding the validity of section 5(7a) of the indian income-tax act, 1922, held that it would be prudent if the principles of natural justice are followed before any order of transfer is made. 14. in ajantha industries v. cbdt : [1976]102itr281 ..... the first respondent before ordering transfer. i am afraid that the submissions of learned senior counsel for the respondents cannot at all be sustained. 11. section 127(2) of the income-tax act reads thus : 'where the assessing officer or assessing officers from whom the case is to be transferred and the assessing officer or assessing officers to whom the case is to ..... has already been completed and it has filed its return for the assessment year 1996-97, that the first respondent issued a notice under section 127 of the income-tax act (hereinafter referred to as 'the act') dated may 26, 1997, that the petitioner filed detailed objections, and that without reference to the objections and without affording an opportunity, the objections have been overruled ..... order passed by the first respondent reads thus : 'in exercise of the power conferred by sub-section (2) of section 127 of the income-tax act, 1961, and of all powers enabling him in this behalf, the commissioner of income-tax, tamil nadu-iii, chennai-34, hereby transfers the cases, the particulars of which are mentioned in column 3 of the schedule hereto annexed from .....

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Dec 19 1997 (HC)

General Exporters Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-19-1997

Reported in : (1998)149CTR(Mad)138; [2000]241ITR845(Mad)

..... the impugned proceedings dated 10-6-1997 and directed the respondents to pass fresh orders in terms of section 127 of the income-tax act, 1961 ('the act') by complying with the requirements of the said provision. further, the earlier order of transfer was quashed by this court following ..... that in order to have coordinated investigation in this group of cases, the assessee-firm is to be transferred to assistant commissioner of income-tax, central circle viii, new delhi.' 25. on a consideration of the above reasons, set out in paragraph 22 of the impugned ..... also been considered. the first respondent has held thus : 'this is a clear case where the commissioner of income-tax, central ii, new delhi, and the commissioner of income-tax, tamil nadu iii (myself) are in clear agreement that the case is to be assessed along with the ..... act. in order to safeguard the interest of the assessee, an opportunity of being heard is granted and the section further requires reasons to be stated for transferring a case. the decision to transfer can be taken, in a case like the present, only if there is a concurrence between the two commissioners of income-tax ..... who may be concerned with the transfer. when such high functionaries agree to the transfer and a show-cause notice is issued and reasons are contained in the order of transfer and those reasons appear to be germane to the transfer and show that the transfer has been made in the public interest and for a proper adjudication under the act .....

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Dec 22 1997 (HC)

Commissioner of Income Tax Vs. Gannon Dunkerley and Co. (P.) Ltd., Gan ...

Court : Chennai

Decided on : Dec-22-1997

Reported in : [2000]243ITR646(Mad)

..... income-tax (appeals) and the commissioner (appeals) went into the matter in detail and held ..... by the order of the income-tax officer, the assessee went on appeal before the commissioner of ..... deduction against the interest receipt on fixed deposits. the income-tax officer also held that the said expenditure could not be said to have been incurred in earning interest income so as to be eligible for deduction under section 57(iii) of the income-tax act, 1961 (hereinafter to be referred to as 'the act'). in short the income-tax officer rejected the entire claim of expenditure. 4. aggrieved .....

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Aug 05 1997 (HC)

State of Tamil Nadu Vs. Tmt. Soundara Rajas

Court : Chennai

Decided on : Aug-05-1997

Reported in : [2000]241ITR428(Mad)

..... shade trees are cut down and sold after they had become useless by efflux of time, the amount realised from their sale would not constitute agricultural income. that decision was rendered under the kerala agricultural income-tax act. the court in the course of the judgment observed as under (page 276) : 'there is no controversy about the fact that the owners of tea estates ..... whether the amounts realised from the sale of shade trees on a coffee plantation constitute taxable agricultural income. it is required to be noticed at this stage that the tamil nadu agricultural income-tax act does not contain any provision similar to section 45 of the indian income-tax act and the capital gain received by a person from the sale of a fixed asset which is ..... agricultural in character has not been made exigible to tax. it is only revenue receipts obtained from agriculture that are subject ..... to tax. the jurisdiction of the state legislature under entry 46 of schedule .....

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Feb 18 1997 (HC)

Chemplant Engineers (P.) Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Feb-18-1997

Reported in : [1998]234ITR23(Mad)

..... . at the instance of the assessee, the tribunal referred the following question, for the opinion of this court, under section 256(1) of the income-tax act, 1961 : -'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the compensation of rs. ..... and releasing their rights under the agreement dated april 17, 1972. on considering the subsequent agreement, the income-tax officer held that the assessee had received the compensation of rs. 20,000 for loss of income suffered and added it as revenue receipt. 3. before the commissioner (appeals) in appeal, the assessee ..... the decisions reported in gillanders arbuthnot and co. ltd. v. cit : [1964]53itr283(sc) ; cit v. best and co. p. ltd. : [1966]60itr11(sc) and cit v. saraswathi publicities : [1981]132itr207(mad) . a passage occurring at page 168 of law of income-tax in the text book written by kanga and palkhivala, 8th edition ..... were handed over for an agreed price as part of the agreement would clearly establish that there had been a loss of source of income and that therefore, the compensation is a capital receipt. it is well established that the compensation received for mere loss of profits will be ..... the same business of rubber lining and rubber bonding till april 16, 1975. according to the department, the compensation received was for loss of income suffered. the assessee, on the other hand, would contend that the restraint, which was placed on the assessee and the fact that the machinery .....

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Feb 18 1997 (HC)

Commissioner of Income-tax Vs. Lucas Indian Service Ltd.

Court : Chennai

Decided on : Feb-18-1997

Reported in : [1999]239ITR429(Mad)

..... , 1983, the appellate tribunal has stated a case and referred the following question of law for the opinion of this court under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'). 2. 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the payment to mrs. ghaswala, the wife ..... out wholly and exclusively for the purpose of the business and the provisions of section 37 were inapplicable. the assessee then preferred an appeal before the commissioner of income-tax (appeals). the commissioner of income-tax (appeals) allowed the appeal, following his earlier order for the assessment year 1975-76. he held that the pension paid to mrs. ghaswala is an allowable deduction. it ..... is now necessary to see the findings of the commissioner of income-tax (appeals) rendered for the earlier assessment year 1975-76. in that order, he found that mr. ghaswala was a former director of the assessee-company and the said ghaswala became ..... per month was increased to rs. 1,300 per month. it was also noticed in that resolution that mr. ghaswalla would be retiring on july 31, 1968. the commissioner of income-tax (appeals) held that the payment of pension to mrs. ghaswala was a continuation of the pension paid to mr. ghaswala after his death for the same fixed period for which .....

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Nov 06 1997 (HC)

Commissioner of Income-tax Vs. N. Deenadayalan

Court : Chennai

Decided on : Nov-06-1997

Reported in : [2000]241ITR133(Mad)

..... tribunal has stated a case and referred the following common question of law for the assessment years 1979-80 and 1980-81 under section 256(1) of the income-tax act, 1961, for our opinion : 'whether, the appellate tribunal was justified in law and had material facts to hold that the remuneration paid to the partner by the partnership firm in ..... under section 67 of the act, as the share of the hindu undivided family which has the beneficial interest in the said partnership firm in which it is represented by that partner ?' 2. the assessee is a hindu undivided family. the assessee filed returns for the assessment years 1979-80 and 1980-81 and the income-tax officer completed the assessments rejecting the ..... him in his individual capacity, the firm paid salary and the salary was paid by the firm for the exertion made by deenadayalan for the business of the firm. the income-tax officer noticed that there were four partners in v. a. a. natarajan and sons, viz., n. rajasekaran, n. deenadayalan, n. gunasekaran and n. sivaraj and all of them were partners ..... partners and one n. parameswari was taken in as a partner along with other original partners who were already there representing the hindu undivided family respectively in the firm. the income-tax officer found that the partners represented their hindu undivided family and whatever the salary was paid to the karta would be the .....

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Sep 09 1997 (HC)

Auro Food Ltd. Vs. Commissioner of Income-tax and Another

Court : Chennai

Decided on : Sep-09-1997

Reported in : [1999]239ITR548(Mad)

..... of the decisions, the kerala high court held that where an application is made for waiver of interest levied under section 215 of the income-tax act, 1961, the income-tax authorities have to objectively consider the circumstances and find out whether the assessee is entitled to it. there should not be a mechanical consideration ..... court does not in any way help the writ petitioner. 30. in the second decision cited by learned counsel, the matter arose under the agricultural income-tax act. a bench of this court held that (headnote of 86 itr) : 'wherever a statute invests a discretionary power in a public officer, it ..... november 7, 1988, and consequently direct the first respondent to waive interest of rs. 4,29,670 levied under section 220(2) of the income-tax act, 1961, for the assessment year 1980-81. 2. the grievance of the writ petitioner-company is that the application filed by it for waiver of ..... interest demanded. the question in that case was whether the filing of the appeal by an assessee under the agricultural income-tax act would show whether the assessee was in default. the agricultural income-tax officer has been given a discretion to treat the assessee as not being in default so long as such appeal ..... sound and relevant reason for denying the benefit of the discretionary power. the intention of the proviso to section 40 of the madras agricultural income-tax act, 1955, appears to be that if an appeal is filed, that will be a ground for treating the assessee as not being in .....

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Aug 11 1997 (HC)

B.M. Mehta and Others Vs. State of Tamil Nadu

Court : Chennai

Decided on : Aug-11-1997

Reported in : [1999]238ITR725(Mad)

..... which affirmed those orders of the assessing officer and the appellate authority also does not contain any reference to the order if any passed by the income-tax officer under the income-tax act in respect of the income of the assessees. no such order was produced even at the time of hearing of these matters. 6. in these circumstances, the assessees are not entitled ..... to the benefit of rule 7. there is total absence of any proof of payment of tax under the indian income-tax act. 7. it has been held in more than one case by the apex court that the salary received by a partner of a firm is of the same character ..... same firm. the assessment years in question are 1974-75, 1975-76, 1976-77 and 1980-81. 3. learned counsel contended that income-tax has been paid under the indian income-tax act, and the same amount cannot be subjected to tax under the state act. counsel relied on the decision of this court in b. m. mehta v. state of tamil nadu : [1993]199itr471(mad) . 4 ..... the rules made thereunder. the assessing officer is required to accept the computation made by the income-tax officer under the central act. 4. the assessees, however, failed to produce the order of assessment made by the income-tax officer under the indian income-tax act either before the assessing officer or before the assistant commissioner to whom they had preferred appeals.5. the order of the tribunal .....

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Feb 25 1997 (HC)

Century Flour Mills Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Feb-25-1997

Reported in : [1998]234ITR768(Mad)

..... alleged to have been received by the managing director of the applicant company is also applicable for the purpose of levy of penalty under section 271(1)(c) of the income-tax act 5. whether the tribunal is right in holding that the applicant company has concealed the particulars of the real consideration in respect of the sale of the land and consequently ..... on the basis of the addition made in the assessment order initiated penalty proceedings under section 271(1)(c) of the income-tax act, 1961 (hereinafter referred to as 'the act'), against the assessee and after considering the explanation given by the assessee, he held that the real price for which the transaction has been gone through is rs. 4.2 ..... n.v. balasubramanian j.1. this is an application by the assessee under section 256(2) of the income-tax act, 1961, to direct the appellate tribunal to state a case and refer the following questions for the opinion of this court : '1. whether, on the facts and in the circumstances ..... so far as the contention that vicarious liability is not attracted in the hands of the company for the extra income received, the income-tax officer found that the whole transaction was put through the managing director and the company was acting only through the people working in the company. therefore, he came to the conclusion that the statements recorded from the eye witnesses .....

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