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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 2008 Page 1 of about 147 results (0.044 seconds)

Aug 28 2008 (HC)

Sterlite Industries (India) Ltd. Vs. Assistant Commissioner of Income- ...

Court : Chennai

Decided on : Aug-28-2008

Reported in : (2008)220CTR(Mad)335; [2008]305ITR339(Mad); [2009]178TAXMAN409(Mad)

..... singh deb singh bist : [1973]88itr200(sc) , the supreme court, while dealing with section 34(1)(a) of the indian income-tax act, 1922 (now equivalent to section 147 of the income-tax act, 1961), observed as follows (at page 202 of 88 itr):before an income-tax officer can issue a statutory notice under section 34(1)(a), he must have reason to believe that by reason ..... follows (page 20 of 259 itr):we see no justifiable reason to interfere with the order under challenge. however, we clarify that when a notice under section 148 of the income-tax act is issued, the proper course of action for the noticee is to file a return and if he so desires, to seek reasons for issuing notices. the assessing officer is ..... appearing for the company is that the assessing officer, before issuance of the notice, must record the reasons for doing so, as the proviso to section 151(1) of the income-tax act, makes it mandatory that after the expiry of four years from the end of the relevant assessment year, no such notice shall be issued, unless the chief commissioner or the ..... in calcutta discount co. ltd. v. ito : [1961]41itr191(sc) and in the said case, the notice under section 34 of the indian income-tax act (xi of 1922), which is similar to notice under section 147 of the income-tax act, 1961, was challenged on the ground of jurisdiction, notice having been issued after the expiry of more than five years from the relevant assessment .....

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Nov 19 2008 (HC)

Rayala Corporation Pvt. Ltd. Vs. the Commissioner of Income Tax

Court : Chennai

Decided on : Nov-19-2008

Reported in : [2009]311ITR1(Mad); [2009]179TAXMAN300(Mad)

..... the assessment orders put against the assessee, the assessee could have filed revision petitions straight-away invoking sub-section (3) of section 264 of the income tax act. but the assessee had chosen a wrong forum by filing writ petitions before this court, which were ultimately dismissed directing the appellant to file the revision ..... regarding the prescribed limitation stated in the order for filing petition under section 264 of the income tax act. i further state that accordingly w.m.p. nos. 15409 & 15410 of 2002 in w.p. nos. 21111 to 21113 of 1994 were ..... days of obtaining the order copy of this hon'ble court, the petitioner has filed on 07.05.2001 petition under section 264 of the income tax act as directed by this hon'ble court.3. i state that the respondent required a clarification to be obtained from the hon'ble high court ..... the assessments were completed on 6.12.93 and 21.2.94 respectively.2. in terms of sub-section (3) of section 264 of the income tax act, the assessee is entitled to prefer a revision within a period of one year from the date of the assessment order. however, without availing the ..... and manufacture and supply of defence equipments/components to various defence establishments in the country. in respect of levy of interest under section 216 of the income tax act and for waiver for the assessment years 1978-79 and 1980-81, the matter landed before the settlement commissioner who, by order dated 30.12 .....

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Dec 05 2008 (HC)

P.R.P. Granites Represented by Its Chief Accounts Officer R. Arumugam ...

Court : Chennai

Decided on : Dec-05-2008

Reported in : (2009)221CTR(Mad)371

orderk. raviraja pandian, j.1. the writ petition is filed questioning the correctness of the assessment order dated 31.03.2006 for the assessment year 2003-04 under the income tax act, 1961. ('the act for short). the petitioner, a partnership firm, is engaged in the business of exploration, exploitation, manufacture, process and production of polished and dressed granite in assorted dimensions and a ..... the annexure to be appended to the statement of particulars in which the 'marble and granite' has been classified under the manufacturing industry sector. thus, for the purpose of income tax, under the rules, marble and granite industry has been considered to be manufacturing industry. under the rules governing the compulsory audit in respect of various businesses also, marble and ..... granite industry has been included in the sector of manufacturing industry. this goes to show that so far as the authorities under the income tax entrusted with the task of its implementation are concerned the cutting of marble and granite blocks into slabs and polishing them for bringing them to the stage of usability as ..... approval has been constituted and eou status has been granted to the petitioner's unit. hence, respondents 5 and 6, i.e., the cbdt and the assistant commissioner of income tax, have no jurisdiction to deny the benefit granted to the petitioner by way of interpreting the word 'manufacture'. the main object of eou scheme is to promote, earn valuable .....

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Dec 23 2008 (HC)

The Commissioner of Income Tax Vs. Adar Tea Products Company

Court : Chennai

Decided on : Dec-23-2008

Reported in : (2009)221CTR(Mad)597; [2009]314ITR38(Mad); [2009]178TAXMAN126(Mad)

..... said definition?2. the assessee had claimed depreciation at 100% on fluid bed drier for the assessment year 1994-95. it was allowed. the notice under section 154 of the income tax act, 1961 ('act' in short) was issued calling for the assessee's objection for withdrawal of the 100% depreciation. the assessee objected to the disallowance. the objections were rejected as untenable since ..... , the words that were construed by the supreme court were 'that is to say'.10. in : [1978]114itr802(mad) [commissioner of income-tax v. arasan fertilisers (p) ltd.], the word used was 'namely'. in item 13 of the fifth schedule to the income tax act, after the word 'fertilizers', the word 'namely' was introduced. our court held that 'namely' would restrict the interpretation of the ..... word to those types of fertilizers that are enumerated and not to all types of fertilizers and answered the reference in favour of the revenue.11. in (2000) 118 s.t.c. 379 [commissioner of sales tax v. popular ..... mentioned herein is an energy saving device.22. for the reasons mentioned above, we answer the question raised in this appeal in favour of the revenue. the order of the income tax appellate tribunal, 'a' bench, chennai, dated 8.4.2003 passed in i.t.a. no. 1105/mds/2002 is set aside and the appeal is allowed.

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Nov 12 2008 (HC)

Commissioner of Income Tax-i Vs. Fal Industries Ltd.

Court : Chennai

Decided on : Nov-12-2008

Reported in : [2009]314ITR47(Mad)

..... 31.12.1981 relevant to the assessment year 1982-83. the initial assessment year for the purpose of deduction under section 80hh of the income tax act in respect of this new industrial undertaking, therefore, was 1982-83. the assessee claimed that the ten assessment years would end with 1992 ..... of of this court after going through the relevant statutory provisions viz., sections 18 and 147 of the income tax act, held as follows :in view of the deletion of the section 18 of the act with effect from april 1, 1989, the third proviso to section 145(1) was inserted with effect ..... the relief under section 80j for the assessment year 1980-81.14. in : [1999]237itr202(sc) [premier cable co. ltd. v. commissioner of income tax.]., the supreme court has clearly explained how the words 'assessment year' should be understood. in that case also, the assessee had followed mercantile system ..... question law, the learned sr. standing counsel submitted that the same was also decided against the revenue in : [2008]297itr107(mad) [commissioner of income tax v. ashok leyland ltd.].substantial question of law no. 3 :4. the learned sr. standing counsel submitted that the claim of exclusion in respect of ..... from april 1, 1989, which is a saving clause. although the amendment was with effect from april 1, 1989, it clearly provides that any income by way of interest on securities shall be chargeable to tax as the income .....

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Jan 22 2008 (HC)

K.V. Narasimhan (Died) and ors. Vs. S. Salammal W/O. P.M. Subramania M ...

Court : Chennai

Decided on : Jan-22-2008

Reported in : (2008)3MLJ1395

..... the learned counsel appearing for the appellants, contended that the first defendant was undergoing rigorous imprisonment in central jail, madras for certain offences under the income tax act at the time of contract and he was not in free mind and he never intended to create a contract for sale of the suit property ..... it is further stated by the first defendant that he was undergoing rigorous imprisonment in the central jail, madras for certain offences under the income-tax act and the plaintiff's son ponnusamy used to visit the jail and voluntarily came forward to purchase the suit house, knowing fully well that ..... .1, the plaintiff's family is a joint family and they are doing textile business in kancheepuram and madras and the plaintiff is an income-tax assessee and she was always ready and willing to perform her part of the contract. it is also relevant to note that the first ..... of rs. 2,75,000/- free of all encumbrances and after discharging the kanchipuram co-operative house mortgage decree dues and after obtaining necessary income-tax clearance, in order to tide over certain of his pressing problems and family commitments and the plaintiff accepted the offer and the first defendant received ..... suit property. according to the plaintiff, the contract is valid in law and specifically enforceable and she is not guilty of any conduct or act that would disentitle from securing the relief of specific performance.6. the trial court framed six issues and the plaintiff examined her son as .....

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Mar 04 2008 (HC)

The Commissioner of Income Tax Vs. Chennai Properties and Investments ...

Court : Chennai

Decided on : Mar-04-2008

Reported in : [2008]303ITR33(Mad)

..... value and it was that value which would have to form the basis for determining income from house property and for allowing deduction from income from house property to the extent permitted under the other provisions of the income tax act. in making such computation, there was no provision to add other amounts received by the owner of the ..... building is representing the value of the service charges rendered by him to his tenants as income from house property. hence the tribunal was right in holding that the ..... revenue.4. we have heard the learned counsel appearing for the revenue, who fairly submitted that the issue is covered in the decision of tarapore & co. v. commissioner of income tax reported in : [2003]259itr389(mad) against the revenue in which this court held as follows:the actual rent received by the assessee would constitute the basis for determining the annual ..... officer, the assessee filed an appeal before the commissioner of income-tax (appeals), who upheld the order of assessment to the extent that he treated the income from rent as income from house property but held the amenity charges as income from other sources. both revenue and the assessee filed appeals to the income-tax appellate tribunal. the revenue filed an appeal contending that the .....

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Feb 04 2008 (HC)

Hanu Reddy Realty India Pvt. Ltd., Rep. by Its Director, Mr. C. Suresh ...

Court : Chennai

Decided on : Feb-04-2008

Reported in : III(2008)BC190; 2008(1)CTC721; (2008)2MLJ896

..... the debts recovery tribunal and he shall function as per the direction of the presiding officer of the tribunal. on the other hand, the recovery officer under the income tax act is not functioning under the income tax officer, who makes the assessment and as such, the learned counsel contended that it is not possible to file an application before the recovery officer inasmuch as ..... court in roshan and co.'s case air 1949 mad 42.35. the power to confirm the sale giver to the recovery officer as per section 63{1) of the income tax act, 1961 enjoins upon the recovery officer to see that the property is sold for the market price in a free auction made with wide publicity.36. the provision relating to ..... the purchase money payable to the auction purchaser.22. the learned counsel for the defaulter contended that there is a difference in the procedure of auction as contemplated by the income tax act 1961. sale of property which is the subject matter of the proceedings of the debts recovery tribunal is made by the tribunal itself through the recovery officer who is an ..... , the recovery officer has not fixed any specific date or time to conduct the auction, which is a mandatory requirement under rule 15(1) of the ii schedule to the income tax act, 1961. the recovery officer has power to postpone or adjourn the sale. but while doing so, duty is cast on him to adjourn the sale to a specified date and .....

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Jan 22 2008 (HC)

S.V. Subramaniam Vs. Cypress Semiconductor Technology India Private Li ...

Court : Chennai

Decided on : Jan-22-2008

Reported in : (2008)2MLJ169

..... to the amount of debt due under the act instead of the income tax. in view of section 29 of the 1993 act and rule 9 of second schedule to the income tax act, 1961, which is applicable, wherein, while jurisdiction of the civil court has been barred, under proviso to the said rule ..... said provisions and the rules to the 'assessee' shall be construed as a reference to the defendant under this act.section 29 of the 1993 act stipulates that the provisions of the second and third schedules to the income tax act, 1961 (43 of 1961) and the income tax (certificate proceedings) rules, 1962, will apply with necessary modifications, as if the said provisions and the rules referred ..... is not barred by the provisions of section 18 of the 1993 act.12. fraud on court:(a) section 29 of the 1993 act reads as follows:section 29: application of certain provisions of income-tax act.--the provisions of the second and third schedules to the income-tax act, 1961 (43 of 1961) and the income-tax (certificate proceedings) rules, 1962, as in force from time to time shall .....

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Mar 10 2008 (HC)

The Assistant Commissioner of Income-tax Vs. Apollo Hospitals Enterpri ...

Court : Chennai

Decided on : Mar-10-2008

Reported in : 2008(2)CTC1; (2008)215CTR(Mad)460; [2008]300ITR167(Mad); (2008)4MLJ222

..... vested with the respondent under the scheme of amalgamation. for the assessment year 2000-2001, the respondent submitted returns and claimed the benefit of section 72a of the income-tax act (hereinafter referred to as the act) to have the said unabsorbed depreciation of dhcl as the depreciation of the respondent. by letter in g.i. no. ax1-015/2000-01, dated 7.3 ..... of such amendment to the income-tax act and the definition rendered for the same term under the industrial disputes act, 1947, cannot be accepted. if the act which is the subject matter of the issue involved does not contain any definition for a disputed term, then only, for ..... the respondent in the assessment year 2000-2001. therefore, the above amendment of section 72a(7)(aa) of the act is very well applicable to the case on hand. thus, when the term 'industrial undertaking' has been well defined in the income-tax act, which is the matter on hand, the contentions of the respondent based on the judgments delivered prior to the introduction ..... of their own case, are all the matters before 1.4.2000 i.e. prior to introduction of finance act, 2001 whereunder clause (aa) to sub-section (7) of section 72a was inserted with retrospective effect from 1.4.2000 to the income-tax act, whereunder the 'industrial undertaking' is defined as follows:(aa) 'industrial undertaking' means any undertaking which is engaged in-(i .....

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