Court : Chennai
Decided on : Feb-01-2006
Reported in : (2006)204CTR(Mad)53; 283ITR230(Mad)
..... from liability to have any penalty inflicted upon him. that, it seems to me, is to put a premium on dishonesty and nowhere in the income-tax act do we find any provision which does anything of the kind. the contention that this was a discovery within the meaning of section 22(3) is ..... of penalty under section 271(1)(c) of the income tax act?6.1 in this regard, it is apt to refer section 271 of the income tax act, 1961 and the corresponding section of the income tax act, 1922, viz., section 28, which read as under:section: 271 of the income tax act, 1961section 271. failure to furnish returns, comply with ..... circumstances of the case the tribunal was correct in law in sustaining the levy of penalty under section 271(1)(c) of the income tax act?(ii) whether on the facts and in the circumstances of the case, the tribunal has any material to hold that the assessee in filing the ..... notices, concealment of income, etc.-(1) if the assessing officer or the commissioner (appeals ..... dated 9.3.1990, the assessing officer initiated penalty proceedings under sections 271(1)(c) and 273(2)(a) of the income tax act, as proposed and called for explanation from the assessee.2.6. even after the receipt of the notice issued under section 271(1)(c) of the .....Tag this Judgment!
Court : Chennai
Decided on : Mar-21-2006
Reported in : (2006)203CTR(Mad)21; 287ITR83(Mad)
..... authority in all these years as regards the withdrawal of the benefit given under section 32a by invoking the provisions of section 154 read with section 155(4a) of the income tax act is in accordance with law. in view of the above reasoning, we answer the question no. 1 in favour of the revenue, against the assessee. now we take up question ..... respect of which investment allowance was granted to it cannot be deemed to have complied with the requirement of section 32a of the income tax act and consequently, become eligible to the benefit of investment allowance under section 32a of the income tax act?2. the facts leading to the above questions of law are as under: i) the relevant assessment years are 1986-87, 1987 ..... p.p.s. janarthana raja, j.1. the present appeals are filed under section 260a of the income tax act, 1961 at the instance of the assessee against the order passed in i.t.a. nos. 319, 320 & 321(mds)/2001 dated 23.11.2001 by the income tax appellate tribunal, madras 'c' bench. these appeals came up before this court and this court admitted the ..... of the assessing officer, the the assessee company filed an appeal before the commissioner of income tax (appeals). the commissioner of income tax (appeals) dismissed the appeal and confirmed the order of the assessing officer. aggrieved by the same, the appellant filed an appeal to the income tax appellate tribunal. the income tax appellate tribunal confirmed the order of the lower authority and dismissed the appeal filed by .....Tag this Judgment!
Court : Chennai
Decided on : Mar-14-2006
Reported in : (2006)205CTR(Mad)241; 286ITR674(Mad)
..... period of limitation applicable to the reopening for these two years would be a period of four years prescribed in the proviso to section 147 of the income tax act, 1961. for the said two years, notice under section 148 had been issued after the expiry of four years from the end of the assessment ..... counsel appearing for the assessee submitted that the reopening of the assessment is barred by limitation and also relied on proviso to section 147 of the income tax act.5. heard the counsel appearing for both the sides. the law relating to the reassessment has undergone a change from 1st april 1989. the change ..... p.p.s. janarthana raja, j. 1. the present appeals are filed by the revenue under section 260a of the income-tax act (hereinafter referred to as 'the act'), against the order passed by the income-tax appellate tribunal, madras 'b' bench, dated 12.12.2002 in ita no. 355 & 356/mds/2002. these appeals came up ..... : 241itr672(mad) in the case of fenner (india) limited v. deputy commissioner of income tax. in the said judgment, the learned single judge considered the scope of proviso to section 147 of the income tax act in detail and held as follows:the pre-condition for the exercise of the power under section 147 ..... ground that individual value was less than rs. 5,000/- per piece, in view of proviso to section 32 of the income tax act, 1961. the assessing officer therefore held that the granting of excess depreciation allowance in the original assessments had resulted in escapement of .....Tag this Judgment!
Court : Chennai
Decided on : Mar-22-2006
Reported in : (2006)206CTR(Mad)371; 286ITR439(Mad)
..... issued by the first respondent, it is submitted that this is not an ordinary letter but an order passed under section 220(1) of the income tax act, 1961 which the petitioner is deliberately labeling as a suo moto communication. this respondent has passed a speaking order giving the basis and justification for ..... it is submitted that the subject matter of the present writ is the order dated 13.3.2006 passed under section 220(1) of the income tax act by the first respondent and the petitioner has no right to raise any issue pertaining to any other order or communication of this respondent by the ..... assessee was, therefore, asked to pay the consequent demand specified in the notice under section 156 by an order under section 220(1) of the income tax act dated 13.03.2006 in the assessee's case for the assessment year 2001-02, before 15.03.2006, the notice of demand being served ..... petitioner shall not be treated as an assessee in default. according to the petitioner, the said request was made in terms of section 220 of the income tax act. 5. it is the further case of the petitioner that on receipt of the aforesaid letter, the first respondent addressed a letter to the petitioner ..... has been duly paid by the petitioner and the proceedings have become final. 3. while so, the commissioner of income tax, the second respondent herein, initiated proceedings under section 263 of the income tax act on the ground that the assessment made by the first respondent is erroneous, in so far as he had granted .....Tag this Judgment!
Court : Chennai
Decided on : Jul-17-2006
Reported in : 288ITR566(Mad)
..... that section 80hhc of the income tax act is not applicable to the export of granite.in the result, these appeals are dismissed, the questions of law are answered in affirmative and in favour of the revenue. ..... the export of the dimensional granite blocks, being value added marketable commodity, would not be entitled to deduction u/s. 80hhc of the income tax act, 1961?(ii) whether on the facts and in the circumstances of the case the income tax appellate tribunal was right in law in holding that the appellant had exported only granite without appreciating or considering the submissions made before ..... . drawing support from the decisions referred supra, we are of the considered view, that the amendment brought by the finance (no. 2) act of 1991 to section 80hhc of the income tax act is only prospective and effective from april 1, 1991, and for the assessment years 1987-88 and 1989-90 under consideration, the statutory provision is very clear in the sense ..... pooshya exports p. ltd. : 262itr417(mad) ; and(ii) gem granites v. commissioner of income-tax : 271itr322(sc) .4. this court in commissioner of income-tax v. pooshya exports p. ltd. : 262itr417(mad) , after referring the relevant provision of the statute, i.e., section 80hhc of the income-tax act, held that, by virtue of the expression the export of any goods or merchandise to .....Tag this Judgment!
Court : Chennai
Decided on : Jul-18-2006
Reported in : 288ITR517(Mad); (2006)4MLJ1179
..... 143(3) of the act, accepting the total loss return by the assessee. further, he made addition by estimating ..... p.p.s. janarthana raja, j.1. the present appeal is filed under section 260a of the income tax act, 1961 by the revenue against the order passed in i.t.a. no. 864/mds/2000 by the income tax appellate tribunal, madras, 'a' bench. on 21.10.2003, this court admitted the appeal and formulated the following question of law. 1. whether in the facts ..... . the assessee is a dealer in fertiliser and also derived income from plying 3 lorries. the assessee filed return of income for the said assessment year on 13.02.1995 declaring a total loss of rs. 2,18,712/-. later, a notice under section 143(2) of the income tax act (hereinafter referred to as the 'act'), was served directing the assessee to furnish details. after ..... the details were furnished by the assessee, the income tax officer completed the assessment under section .....Tag this Judgment!
Court : Chennai
Decided on : Jul-25-2006
Reported in : (2006)205CTR(Mad)481; 288ITR366(Mad); (2006)4MLJ1411
..... as clause (b) of section 43b of the income-tax act, 1961, and the explanation exist in unmodified terms in the statute book, provident fund contributions must be made within the due date for those to qualify for deductions ..... fund contribution not made within the due date, cannot be allowed as a deduction in view of section 43b of the income-tax act, 1961.4.22. the calcutta high court in c.i.t. v. sudera services pvt. ltd. : 268itr505(cal) again held that so long ..... for the assessment year 1991-92 as the payment made was not within the due date as defined in the explanation to section 36(1)(va) of the income-tax act, 1961.4.21. in halmira estate tea pvt. ltd. v. c.i.t. : 268itr498(cal) the calcutta high court held that the provident ..... deleting the disallowance of rs. 1,45,399/- being the provident fund payments applying the provisions of section 43b of the income-tax act, 1961?2.1. the assessee is a company engaged in the business of leasing and hire purchasing. the assessee claimed 100% depreciation with regard to certain ..... the case, the appellate tribunal is right in law in holding that the assessee is entitled to 100% depreciation under section 32(1)(ii) of the income-tax act, 1961 on gas cylinders and spindles?(ii) whether on the facts and in the circumstances of the case, the appellate tribunal is right in law in .....Tag this Judgment!
Court : Chennai
Decided on : Nov-02-2006
Reported in : (2007)207CTR(Mad)642; 294ITR121(Mad)
..... application of section 80e of the income-tax act, 1961, the profits and gains earned by one priority industry (mentioned in that section) cannot be reduced by the loss suffered by any other industry or industries owned by the ..... court held that losses should be set off against the profits of the industrial undertaking before granting the deduction under section 80hh of the income-tax act, 1961, in view of the specific provision found in section 80ab of the act.(ii) in favour of the assessee: canara workshops p. ltd. : 161itr320(sc) in this case, the apex court held that in the ..... .i.t. 243 itr 83, after considering the power and jurisdiction of commissioner of income-tax under section 263 of the act and the meaning of the phrase, 'prejudicial to the revenue' found in section 263 of the act, held as follows:a bare reading of section 263 of the income-tax act, 1961, makes it clear that the prerequisite for the exercise of jurisdiction by the ..... :2.1. the relevant assessment year with which we are concerned is 1999-2000. the assessee company filed its return of income admitting the income of rs. 39,36,400/-. the return was processed under section 143(1)(a) of the income-tax act, 1961 (hereinafter referred to as 'the act'). the case of assessee was selected for scrutiny, notice under section 143(2) of the .....Tag this Judgment!
Court : Chennai
Decided on : Dec-02-2006
Reported in : (2007)209CTR(Mad)305
..... [geethanjali mills ltd. v. thiruvengadathan] :the fact that the tribunal has passed an order of remand in assessment proceedings would not be a bar to prosecution for offences under the income-tax act. mere expectancies should not stand in the way of the criminal court proceeding in the matter. the high court cannot stop any proceedings against an assessee in a criminal court ..... judgment in : 2004crilj3362 [prakash nath khanna v. c.i.t.] answers almost every question raised by the petitioners herein. the words 'in due time' occurring in section 276cc of the income tax act were interpreted in this decision and it was held that even if a return is filed in terms of sub-section (4) of section 139, that will not dilute the ..... giving of opportunities, show cause notice dated 14.6.1996 and 10.7.1996 were issued to the accused asking her to explain why prosecution proceedings under section 276cc of income-tax act, 1961 should not be initiated against her. . ...the reasons given by the accused for such an inordinate delay are not tenable and cannot be accepted. pre-occupations in official as ..... of a criminal prosecution. 40. the decision in : 254itr292(delhi) [r.l. sahni v. r. singh] was cited to show that under section 276cc of the income tax act, where in the appellate proceedings the income had been assessed and refund ordered, which was not challenged further, prosecution under section 276cc was held not valid, relying on the proviso to section 276cc. 41 .....Tag this Judgment!
Court : Chennai
Decided on : Mar-08-2006
Reported in : (2006)203CTR(Mad)574
..... to the manager or any adult member of the family;the learned standing counsel submitted that the first respondent by virtue of the provisions contained in section 282 of the income tax act, has caused service of notice by affixture. the learned counsel also drew my attention to order 5 rule 20 of civil procedure code, which reads as follows:20. substituted service:- (1) ..... and submitted his further objections. 6. on the other hand, the learned senior central government standing counsel for the income tax department invited my attention to section 282 of the income tax act 1961, which reads as follows:282 (1)a notice or requisition under this act may be served on the person therein named either by post or as if it were a summons issued ..... am of the considered view that this court should invoke the extraordinary jurisdiction under article 226 of the constitution of india.11. finally the learned senior standing counsel for the income tax department submitted that without going into the merits of the case, a direction may be issued to the first respondent to assess the assessment proceedings afresh. she further submitted that ..... of the fundamental rights; (ii) where there is failure of principles of natural justice; or (iii) where the orders or proceedings are wholly without jurisdiction or the vires of an act is challenged. in this case, as pointed out above, proper notice has not been served on the petitioner to enable him to effectively participate in the assessment proceedings and put .....Tag this Judgment!