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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 2006 Page 4 of about 252 results (0.054 seconds)

Jun 30 2006 (HC)

Hema Mohnot Vs. State Through Chief Commissioner of Income Tax Adminis ...

Court : Chennai

Decided on : Jun-30-2006

Reported in : (2006)205CTR(Mad)418; [2006]285ITR402(Mad)

..... concern of this petitioner and other records were seized and statements of a.1 to a.4, a.5 and a.12 were recorded under section 132(4) of the income tax act. some pronotes standing in the name of m/s. ashoka traders, hindustan electronics were found along with other documents and certain challans. according to the investigation a cheque had been ..... /w. sections 420, 467, 468, 472, 181, 182, 177, 193, 196. 197, 198, 199, 200, 201, 380, 379, 419, 420 r/w. section 511 i.p.c., and 277 of income tax act. the petitioner is accused no. 12 in the said complaint. p.ws 1 to 69 were examined on behalf of the complainant and exs.p.1 to p.26 were ..... at madras and at ootacamund as well as in the inter venue races are paid the winning amounts after deducting income-tax proportionate amount from the winnings as laid down by the income-tax act, 1961. the winners are given a temporary receipt for deduction of income tax at source. the winners have to sign in token of acknowledgment in the temporary receipt. thereafter, the race club ..... accused, forged the signatures of the original winners and made false documents with the help of the other accused, that a.1 filed income-tax returns containing false declaration and statements before the income tax authorities, that the income tax authorities were induced to act on such false, forged and untrue documents and issue refund orders and that thereby the accused attempted to cheat the government and .....

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Jan 31 2006 (HC)

In Re: Sri Kanchi Kamakoti Peetam Charitable Trust and ors.

Court : Chennai

Decided on : Jan-31-2006

Reported in : AIR2006Mad230

..... at such time and for such items of contribution that the trustees may deem fit, insofar as any such transaction does not offend the provisions of section 13 of the income-tax act, 1961, or any statutory modification or re-enactment thereof for the time being in force.9. sri jayendra saraswathi institute of medical sciences and sri kanchi kamakoti sankara hospital ..... working and teaching staff. the difficulties in running the institution and the hospital cannot be reason to sell away the entire assets. no details of other trust properties and the income derived thereon are furnished. learned counsel for the plaintiffs has submitted that the sale proceeds of sri jayendra saraswathi institute of medical sciences and sri kanchi kamakoti sankara hospital ( ..... were established in the year 2003 with a view to provide medical education at an affordable cost to deserving students in the middle and lower income groups. the hospital was established as a teaching hospital attached to the college. the hospital is said to be catering the needs of 47 villages around perumbakkam, near sholinganallur, ..... were established in the year 2003 by the first plaintiff herein with a view to provide medical education at an affordable cost to deserving students in the middle and lower income groups. the hospital was established as a teaching hospital attached to the college. the hospital caters to the needs of 47 villages around perumbakkam, near sholinganallur. the hospital .....

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Sep 27 2006 (HC)

Commissioner of Income Tax Vs. S. Venkatasubramaniam

Court : Chennai

Decided on : Sep-27-2006

Reported in : (2007)207CTR(Mad)88

..... 1,20,340/-. later, the assessment was taken up for scrutiny and notice was issued under section 143(2) of the income-tax act (hereinafter referred to as the 'act'). the assessment was completed on a total income of rs. 2,45,344/-. while completing the assessment, the assessing officer disallowed the admission fee of rs. 1,25,000 ..... 2000 dated 01.04.2005 by the income tax appellate tribunal, chennai, 'd' bench. on 26.10.2005, this court admitted the appeal and ..... answer the questions of law in favour of the assessee and against the revenue. hence the tax cases are dismissed. no costs. t.c.(a) no. 920 of 2005:14. this appeal is filed under section 260a of the income tax act, 1961 by the assessee against the order passed in i.t.a. no. 557/mds/ ..... c. (a) nos.67 & 68 of 2003 are filed under section 260a of the income tax act, 1961 by the revenue against the order passed in i.t.a. nos.100/mds/97 and 325/mds/99 dated 03.01.2003 by the income tax appellate tribunal, madras, 'a' bench. on 17.10.2003, this court admitted the ..... placed reliance on the supreme court judgment reported in : [1997]225itr792(sc) in the case of punjab state industrial development corporation ltd. v. commissioner of income-tax, wherein it was held as follows: we do not consider it necessary to examine all the decisions in extenso because we are of the opinion that the .....

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Mar 01 2006 (HC)

Commissioner of Income Tax Vs. S.M. Anandvel (Huf)

Court : Chennai

Decided on : Mar-01-2006

Reported in : [2007]288ITR286(Mad)

..... 'act') on 27.1.1986 at the residence of the assessee and some incriminating materials in form of papers and books were seized. based on those documents, it ..... to the revenue, the wife of the assessee, smt. manomani did not have any regular source of income and therefore the said land and building, referred to above, was considered to be that of the assessee under section 22 of the income tax act and thus the income from the said property was computed at rs. 35,354/- after deducting a sum of rs. 1 ..... ,046/- towards municipal tax and rs. 3,600/- towards expenses allowed under section 23(2) of the act, taking into consideration that the assessee and his wife were living in ..... /-. subsequently, he filed a revised return of income on 28.3.1988 admitting a total income of rs. 91,755/-. the difference being a sum of rs. 225/- between the original return and revised return represents the interest admitted under the head 'other sources'. in the meanwhile, there was a search under section 132 of the income-tax act (herein after referred to as the .....

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Oct 26 2006 (HC)

Commissioner of Income-tax Vs. Attur Agricultural Producers Cooperativ ...

Court : Chennai

Decided on : Oct-26-2006

Reported in : [2008]306ITR151(Mad)

..... co-operative society which is engaged in the marketing of the agricultural produce is eligible for the benefit of section 80p(2)(a)(i) of the income tax act in respect of the interest received from members 4. it is fairly conceded by the learned counsel appearing for the revenue that the issue raised in ..... agricultural products. the assessee advanced loans to its members and received interest therefrom. the assessee had claimed deduction under section 80p(2)(a)(i) of the income tax act and the assessing officer negatived the claim of the assessee as the primary objective of the assessee is not that of the credit society that is engaged ..... and advances to the members, held that the assessee therein is entitled to exemption under section 80p(2)(a)(i) of the income tax act. the said decision was also followed in the judgment dated 2.1.2006 made in t.c.(a) no. 1627 of 2005 (commissioner of ..... and 1994-95 held that the assessee is entitled to deduction in respect of interest income received on advances made to his customers for the purpose of deduction under section 80p of the income tax act. the said order of the commissioner of income tax (appeals), on appeal by the revenue, was confirmed by the tribunal.3. exasperated, ..... is engaged in the marketing of the agricultural produce is eligible for the benefit of section 80p(2)(a)(i) of the income tax act in respect of the interest received from members.finding no substantial question of law arises for consideration, the appeal stand dismissed. .....

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Sep 11 2006 (HC)

The Commissioner of Wealth-tax Vs. Fagun Co. P. Ltd.

Court : Chennai

Decided on : Sep-11-2006

Reported in : 2007(1)CTC13; (2006)205CTR(Mad)225; [2006]286ITR297(Mad); (2006)4MLJ836

..... a leasing company which owns machinery and leases such machinery to third parties for manufacture of articles is entitled to investment allowance of such machinery under section 32a of the income-tax act. even though at the first glance such decision appears to support the contention of the assessee, but on deeper scrutiny, we are of the view that the ratio of the ..... . further it was held that the let out plant and machinery, were used in the business of leasing. hence, the apex court granted investment allowance under section 32a of the income-tax act. in the present case, the article of association indicates the main object, which is extracted hereunder:2. to acquire by purchase, lease, exchange or otherwise farms, lands, buildings and hereditaments ..... wealth. the explanation also make it clear that 'company in which public are substantially interested' shall have the same meaning assigned to, under clause (18) of section 2 of the income-tax act. sub section (2) contemplates the computation of net wealth of the company, which says that the amount by which the aggregate value of all the assets referred to in sub ..... - for the purposes of this sub section, 'company in which the public are substantially interested' shall have the meaning assigned to it in clause (18) of section 2 of the income-tax act. (2) for the purposes of sub-section (1), the net wealth of a company shall be the amount by which the aggregate value of all the assets referred to in .....

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Dec 12 2006 (HC)

The Commissioner of Income-tax Vs. Abdul Rahman Industries

Court : Chennai

Decided on : Dec-12-2006

Reported in : [2007]293ITR475(Mad)

..... p.p.s. janarthana raja, j.1. this appeal is filed by the revenue under section 260a of the income tax act, 1961 in i.t.a. no. 803/mds/98 passed by the income tax appellate tribunal, chennai, 'c' bench. on 03.02.2004, this court admitted this appeal and formulated the following substantial question of law:whether on the facts and in the circumstances ..... corresponding accounting year ended on 31.03.1993. the assessee filed return of income on 15.12.1994 admitting the total income as nil. the return was processed under section 143(1)(a) of the income-tax act ('act' in short). the assessee did not furnish form 10ccac along with the return of income and hence the claim of the assessee firm for deduction under section 80hhc ..... )(a) of the act was determined at rs. 10,89,460/-. subsequently ..... of the act, was rejected. later the total income as per assessment under section 143(1 .....

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Mar 20 2006 (HC)

Commissioner of Income Tax Vs. C.S. Kothari

Court : Chennai

Decided on : Mar-20-2006

Reported in : (2006)203CTR(Mad)259; [2006]286ITR397(Mad)

..... the arguments advanced by the assessee, we find that the return of the assessee was processed under section 143(1)(a) of the income tax act which says that only prima facie adjustments to be made. as was observed by the commissioner in his impugned order it is clear that whether ..... no representation on behalf of the assessee. 5. we heard the learned standing counsel appearing for the revenue. section 143 of the income tax act deals with the procedure for assessment of income of the relevant assessment year. when the return was filed, section 143(1) contemplates acceptance of the return as it is with ..... p.p.s. janarthana raja, j.1. this appeal is by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as the 'act'). the above appeal came up for hearing before this court on 20.10.2003 and this court admitted the appeal ..... the interest on income tax is to be treated as tax is a debatable question which cannot be considered under section 143(1)(a). therefore, considering this aspect in 143(1)(a) proceedings ..... interest payable under sections 234a, 234b and 234c of the act from the total tax payable by the firm for determining apportionable profit among the partners. 3. aggrieved by that order, the assessee filed an appeal to the commissioner of income tax (appeals). the commissioner of income tax (appeals) dismissed the appeal and confirmed the order of .....

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Sep 11 2006 (HC)

The Commissioner of Income Tax Vs. S. Muthukarupan

Court : Chennai

Decided on : Sep-11-2006

Reported in : (2006)206CTR(Mad)231; [2007]290ITR154(Mad)

..... is the appellant. for the assessment years 1992-93, 1994-95 and 1996-97, the returns of income filed by the appellant were processed under section 143(1)(a) of the income tax act (for brevity, 'the act'). on subsequent verification, the assessing officer found that the appellant had claimed for each of these assessment ..... appeals pertains to the disallowance of the interest claimed by the assessee under the head 'business'. the assessing officer as well as the commissioner of income tax (appeals) held that the payments made by the assessee, when there are more than one loan outstanding can only be credited in the first ..... at rs. 1,50,000/-, and made additions in all the three assessments.2.2.2. on appeal by the assessee, the commissioner of income tax (appeals), though noted that the assessing officer has not justified his suspicions with the help of any material or evidence, agreed that the rent as ..... year after year, under various heads and allowed interest in respect of those heads in respect of which income had been offered and, disallowed the balance.2.3.2. the commissioner of income tax (appeals), on appeal by the assessee, laid the proposition to work out allowable and disallowable interests and held ..... the choice of the method to be adopted for determining the value of property should be left to the assessee, and that under the wealth-tax act, 1957, the incidence of taxation is the ownership of net wealth. if during the same assessment year the same quantity of wealth in possession .....

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Nov 01 2006 (HC)

P.A.S. Industries, Rep. by Its Proprietor P. Sundaram Vs. the Commissi ...

Court : Chennai

Decided on : Nov-01-2006

Reported in : (2007)6VST671(Mad)

..... general sales tax act, the supreme court held that the benefits of such circulars to assessees have been held to be permissible ..... by the revenue being executive in character cannot alter the provisions of the act, since they are in the nature of concessions, they can always be prospectively withdrawn. in keshavji ravji & co. v. commissioner of income-tax : [1990]183itr1(sc) , while dealing with section 119 of the income-tax act, which is pari materia to section 28-a of the tamil nadu ..... which place a different interpretation upon the said phrase, that interpretation will be binding upon the revenue.similar is the view in uco bank v. commissioner of income-tax : [1999]237itr889(sc) , commissioner of sales tax, u.p. v. indra industries (2001) 122 stc 100, and commissioner of customs, calcutta v. indian oil corporation ltd. : [2004]267itr272(sc) . 9. in ..... reply, the learned special government pleader submitted that a clarification issued under sub-section (3) of section 28-a of the tamil nadu general sales tax act, 1959 cannot bind the sales tax authorities acting under judicial or quasi-judicial capacity. he submitted that such clarifications are communicated to the concerned dealers, but even so nothing prevents the state from recovering .....

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