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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 2004 Page 1 of about 156 results (0.052 seconds)

Jul 06 2004 (HC)

Commissioner of Income Tax, Spl. Range Ii Vs. Sanmar Holdings Ltd.

Court : Chennai

Decided on : Jul-06-2004

Reported in : [2005]272ITR345(Mad)

..... as an income from house property. 4.2. in support of the above contention, ..... facts and circumstances of the case, the appellate tribunal was right in holding that the income from letting out of building is assessable as business income?'4.1. according to the learned counsel for the appellant/revenue, as per section 22 of the income tax act (hereinafter referred to as the 'act'), any income from letting out of a building has to be assessed under the head ..... income from house property, and therefore, the income of the respondent/assessee is liable to be assessed ..... of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable to income-tax under the head ' income from house property'.7.2. it is a settled position in law that whether a particular letting is business has to be decided in the circumstances .....

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Jul 26 2004 (HC)

Commissioner of Income Tax Vs. T.S.K. Enterprises

Court : Chennai

Decided on : Jul-26-2004

Reported in : [2005]274ITR41(Mad)

..... the terms of deed of trust are not in the same position as receivers. an association of persons as used in section 3 of the income tax act, 1961, means an association in which two or more persons join in a common purpose or common action, and as the words occur in ..... the appellant/revenue by a division bench of the bombay high court in 'commissioner of income tax vs marsons beneficiary trust : [1991]188itr224(bom) , wherein it was held as follows:-'under section 161 of the income tax act, 1961, the tax shall be levied upon and recovered from a trustee in like manner and to the ..... same extent as it would be leviable upon and recoverable from the person represented by him. in other words, income which comes to the share of a beneficiary ..... .2285/96. the following substantial question of law is raised for consideration:-'whether on the facts and in the circumstances of the case, the income tax appellate tribunal was right in holding that the assessing officer was not correct in assessing the assessee trust in the status of association of persons ..... the assessment of the assessee trust for the assessment year 1984-85 was originally completed u/s 143(1) determining the total income at rs. 1,99,940/-. the commissioner of income tax, on a perusal of the records, found that the order of the assessing officer was erroneous and prejudicial to the interest .....

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Jul 19 2004 (HC)

Director of Income Tax (Exemptions) Vs. Agri-horticultural Society

Court : Chennai

Decided on : Jul-19-2004

Reported in : [2005]273ITR198(Mad)

..... have not conducted flower show for the past 10 years has not changed the character of the charitable object of the society as defined under section 2(15) of the income tax act , which reads as follows:section 2(15): 'charitable purpose' includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility.' 5. it ..... . having engaged more than 259 members and 54 employees. the respondent/society was established, registered and functioning for the charitable purpose within the meaning of section 2(15) of the income tax act. however, on the ground that they have not conducted a flower show for the last 10 years and they are using the premises for shooting of films and tv serials ..... not entitled for the exemption under sections 11 to 13 of the income tax act. 2. the issue is relating to the assessment year 2000-2001. the assessee is a society claiming the status as association of persons, who are engaged in the business of ..... tribunal, chennai bench 'd' dated 26.06.2003 holding that the respondent/assessee is a charitable institution within the meaning of 2(15) of the income tax act 1961, as they are engaged in commercial activity by growing plants, selling seeds and getting corpus donation by using the premises for shooting movie, tv serials etc. and therefore was .....

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Sep 21 2004 (HC)

The Commissioner of Income-tax, Tamilnadu-i, Madras Vs. Wheels India L ...

Court : Chennai

Decided on : Sep-21-2004

Reported in : (2005)197CTR(Mad)284; [2005]275ITR319(Mad)

..... or the case laws dealing with the definition of turnover under the state levy cannot be imported into section 80hhc of the income tax act, particularly, when such expressions are incorporated and explained in the provision itself.17. in view of the above discussion and in the ..... 1992-93. in these appeals, the assessing officer included the excise duty and sales tax collection in the total turnover of the assessee for computing the deduction under section ..... j.1. these appeals are filed under section 260a of the income tax act against the orders dated 18.02.2004 and 15.07.2003 made in i.t.a.no.701/mds/96 and i.t.a.no.562/mds/1996 on the file of the income tax appellate tribunal madras 'c' and 'b' bench respectively.2. ..... of the case, the tribunal was right in holding that sales-tax and excise duty (appeal no.726/2004) and excise duty (appeal no.181/2004) not to be included in the total turnover while computing the deduction under section 80hhc of the income-tax act, 1961?'3. the assessment years involved are 1990-91 and ..... 15. the other two decisions of calcutta high court and kerala high court as it follows the bombay high court judgment in the case of commissioner of income-tax v.sudarshan chemicals industries limited and others : [2000]245itr769(bom) to come to the conclusion, which we have arrived above, has not been discussed .....

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Jul 13 2004 (HC)

Commissioner of Income Tax Vs. Kwality Textile Associate Pvt. Ltd.

Court : Chennai

Decided on : Jul-13-2004

Reported in : [2005]272ITR371(Mad)

..... of export of textile spares and equipments. for the assessment year 1988-89, the assessment was completed on 24.3.1994 under section 143(3) read with 263 of the income tax act. the assesee disputed the assessability of an amount of rs. 39,20,252/- being the fees received for technical and engineering services rendered by the assessee outside india. according to ..... it is intended under the double taxation avoidance agreement between india and malaysia that, even though it is possible for a resident in india to be taxed in terms of sections 4 and 5 of the income tax act, 1961, if he is deemed to be a resident of contracting state where his personal and economic relations are closer, then his residence in india ..... agreement since the assessee had no permanent establishment in india?3. whether on the facts and in the circumstances of the case, the income tax appellate tribunal was right in law in not considering section 80-o of the income tax act as the entire receipt is taxable in india subject to the deduction, as mentioned in the above section?'2.1. in brief, the ..... the assessing officer, this was assessable as income from india subject to the deduction of 50% admissible under section 80-o of the income tax act. the assessee contended that the income was totally exempt as the amount was received from malaysia and as per the double taxation avoidance agreement between india .....

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Jul 06 2004 (HC)

Commissioner of Income Tax Vs. T.V. Sundaram Iyengar and Sons Ltd.

Court : Chennai

Decided on : Jul-06-2004

Reported in : (2005)193CTR(Mad)50; [2004]271ITR79(Mad)

..... the respondent/assessee for the purpose of business or any profession carried on by the respondent/assessee, the appellant/revenue assessed those properties under section 22 of the income tax act (in short the 'act') as an income from the house property, of course, taking the estimated annual value of the property into consideration in the assessment order dated 26.5.1995. 2.2. aggrieved ..... of his business or profession; and (2) the profits of such business should be chargeable to income-tax. there is no dispute that profits of the assessee-company, which is stated to be 'occupying' the property are charged to income-tax. to attract the exemption under section 22 act, it has to be seen whether the property is occupied for the purposes of any business ..... the previous year.' 6.2. from a plain reading of section 22 of the act, it is clear that the annual value of the property, consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, is chargeable to income-tax under the head 'income from house property' except such portions of such property which the assessee may occupy for ..... , the profits of which are chargeable to income-tax, the annual value of the whole or that portion of the property, as the case may be, will not be chargeable to tax under the head 'income from house property'. 6.3. in order to claim exemption in respect of the income from house property under section 22 of the act, the assessee must satisfy two conditions .....

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Jul 29 2004 (HC)

Commissioner of Income Tax Vs. the Karur Vysya Bank Ltd.

Court : Chennai

Decided on : Jul-29-2004

Reported in : [2005]273ITR510(Mad)

..... , but the method employed is such that in the opinion of the income-tax officer, the income cannot be properly deduced therefrom, the computation shall be made in such manner ..... or of valuation.4. the concept of real income is certainly applicable in judging whether there has been income or not, but, in every case, it must be applied with care and within their recognised limits.5. under section 145 of the income tax act, in a case where accounts are correct and complete ..... in this appeal has been answered against the appellant/revenue by the apex court in 'united commercial bank -vs- commissioner of income tax' reported in 240 itr 355, wherein it is held as follows:-1. for valuing the closing stock, it is open to the assessee to ..... substantial question of law raised in this appeal is a question of fact, which has not been disputed by the departmental representative before the commissioner of income tax (appeals) and also before the tribunal. hence, the same is answered against the appellant/revenue.4. the second substantial question of law raised ..... an order of rs. 11,19,327/- by disallowing the same. aggrieved by the same, the assessee filed an appeal before the commissioner of income tax (appeals), who held that the government securities form part of stock-in-trade of the assessee, who had been adopting the market price for its .....

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Sep 07 2004 (HC)

Commissioner of Income Tax-i Vs. G.R. Govindarajulu and Sons Charities

Court : Chennai

Decided on : Sep-07-2004

Reported in : (2005)193CTR(Mad)323

..... as set apart for use in following year, was not necessary to give notice of accumulation by complying with the statutory requirements of section 11(2) of the income tax act read with section 17 of income tax rules?'4.1. in brief, the assessee claims to be a public charitable trust engaged in promotion of educational activities. for the assessment year 1994-95, the ..... the revenue. 7.1. the division bench of this court interpreting the provisions under section 11(1)(a) of the income tax act in the case of commissioner of income tax, tamilnadu v. c.m.kothari charitable trust : [1984]149itr573(mad) held that the income of the assessee was completely exempt on a combined application of sections 11(1)(a) and 11(2) of all the ..... result which can follow. it is also to be kept in view that under the earlier income-tax act 1922 exemption was available to charitable trusts without any restriction upon the accumulated income. there was a change in this respect under the present act 1961. under the present act, any income accumulated in excess of 25% or rs.10,000 whichever is higher, is taxable under ..... order dated 16.4.2004 made in ita no.1925/mds/1998 reversing the order of the assistant commissioner, income tax department, central circle ii, coimbatore by granting exemption to the respondent/assessee under section 11(1)(a) of the income tax act (hereinafter referred to as act) . 3. the appellant/revenue raised the following substantial questions of law for our consideration:'i. whether on .....

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Sep 07 2004 (HC)

The Commissioner of Income-tax Vs. A. Radhakrishnan

Court : Chennai

Decided on : Sep-07-2004

Reported in : [2004]271ITR109(Mad)

..... transfer of assets in respect of sections 60, 61 and 62 of the income tax act, held that section 60 of the income tax act has its applicability only to the case where the income accrues to the transferee but the income earning assets or source of income remains with the transferor. section 63 of the income tax act contains a rather special definition of 'transfer' for the purpose of sections 60 ..... asset has been transferred to the trust, the transfer made by the assessee is not hit by the provisions of section 60 of the income tax act and in that view of the matter, the appellate tribunal deleted the income earned from the property at the hands of the assessee.4. in the above said factual matrix, at the instance of this court, the ..... because of the existence of that agreement to transfer, the supreme court held that the applicability of section 60 of the income tax act is ruled out and totally excluded.10. the principle laid down in dalmia cement ltd. v. commissioner of income tax, referred supra, is squarely applicable to the facts and circumstances of this case, as in the case on hand also, apart ..... of the assessee has been negatived by the assessing officer by referring section 60 of the income tax act and brought to tax in the hands of the assessee the income from the said mansions for the two assessment years referred to above.3. on appeal, the commissioner of income tax (appeals) confirmed the the order of the assessing officer. on further appeal, the appellate tribunal held .....

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Sep 08 2004 (HC)

The Assistant Commissioner of Income Tax Vs. A.R. Enterprises

Court : Chennai

Decided on : Sep-08-2004

Reported in : (2005)194CTR(Mad)44; [2005]274ITR110(Mad)

..... .1. in brief, the respondent/assessee is a partnership firm. a search was conducted by the revenue authorities under section 132 of the income tax act (for brevity 'the act') on 23.2.1996, pursuant to a warrant of search issued by the competent authority to search m/s.a.r.mercantile private limited at 26, fagun chambers, commander-in- ..... by the income tax officer but depends on the enactment by any central act prescribing rate or rates for any assessment year ..... taken into consideration while deciding on the undisclosed income of the assessee.5. a full bench of the gujarat high court in saurashtra cement & chemical industries ltd. v. income tax officer : [1992]194itr659(guj) , held as follows:'the scheme of the act, therefore, clearly indicates that liability to pay income tax chargeable under section 4(1) of the act does not depend upon the assessment being made .....

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