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Judgment Search Results Home > Cases Phrase: income tax act Court: delhi Year: 2009 Page 7 of about 188 results (0.054 seconds)

Aug 28 2009 (HC)

icai Accounting Research Foundation and anr. Vs. Director General of I ...

Court : Delhi

Decided on : Aug-28-2009

Reported in : (2009)226CTR(Del)27; [2010]321ITR73(Delhi); [2009]183TAXMAN462(Delhi)

..... government and obtaining its prior approval.4. the petitioner foundation is also registered under section 12a read with section 12aa(i) of the income tax act, 1961 (for short, the act') with effect from 14.1.1999, i.e. from the very first day of its incorporation/registration under section 25 of the companies ..... the research project is to bring out a publication describing the electronic commerce, the significance and the issues which arise in the context of application of existing income tax laws.(e) legal protection of intellectual property rights in information technology industry:the research project titled legal protection of intellectual property rights in information technology industry under ..... the petitioner foundation made an application dated 15.12.2006 to the respondent no. 1 herein in form no. 56 for claiming exemption from income tax under section 10(23c)(iv) of the act taking the plea that it is covered by the expression charitable purposes, as defined in section 2(15) of the ..... some other statutes giving similar definitions, the court expressed the following view:21. in that connection, while dealing with the same question under the hyderabad general sales-tax act, the supreme court in state of andhra pradesh v. h. abdul bakshi & bros. (1964) 15 stc 644, observed as follows (headnote):the expression 'business ..... direction/mandamus is given to the respondent no. 1 to accord requisite exemption to the petitioner foundation under section 10(23c)(iv) of the income tax act. .....

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Aug 24 2009 (HC)

Commissioner of Income Tax Delhi-iv Vs. Escorts Finance Limited

Court : Delhi

Decided on : Aug-24-2009

Reported in : (2009)226CTR(Del)105; [2009]183TAXMAN453(Delhi)

..... the following circumstances:2. the respondent assessee filed the income tax return declaring income at rs. 1,21,03,280/- on 30.11.1996. during the assessment proceedings ..... to as 'the tribunal' for short) which has upheld the decision of the cit (a) deleting the penalty of rs. 13,18,151/- imposed by the assessing officer in exercise of his powers contained in section 271(1)(c) of the income-tax act (hereinafter referred to as the 'the act' for short). the penalty proceedings came to be initiated by the assessing officer under ..... or for setting up a new industrial unit. it was, thus, not a 'wrong claim' preferred by the assessee, but is a clear case of 'false claim'. in commissioner of income-tax v. vidyagauri natverlal and ors. : [1999] 238 itr 91, gujarat high court made a distinction between wrong claim as opposed to false claim and held that if the claim is ..... , the assessing officer noticed that the assessee had claimed deduction of rs. 21,02,228/- under section 35d of the act being 1/10th of rs. 2,10,22,279/- relating to public .....

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Sep 04 2009 (HC)

Commissioner of Income Tax Vs. Industrial Finance Corporation of India ...

Court : Delhi

Decided on : Sep-04-2009

Reported in : (2010)228CTR(Del)132; [2009]185TAXMAN296(Delhi)

..... ultimately succeeded in the supreme court. it was held by the supreme court that the expression 'profits or gains' in section 10 of the income-tax act, 1922 should be understood in its commercial sense and there can be no computation of such profits and gains until the expenditure, which is necessary ..... a.k. sikri, j.1. this is an appeal preferred under section 260a of the income tax act, 1961 (hereinafter referred to as the 'act') against the order dated 31.5.2005 passed by the income tax appellate tribunal (itat) in the case of the respondent in ita no. 1563/del/1999 for the assessment ..... during the year itself.7. dissatisfied with the aforesaid approach of the ao, the assessee carried the matter in appeal before the commissioner of income tax (appeal). the cit (a) held that while the ao was wrong in treating a portion of the expenditure, not relating to the current assessment year, as ..... might give a very distorted picture of the profits of a particular year. thus in the case of hindustan aluminium corporation ltd. v. commissioner of income-tax, calcutta-i : (1983) 144 itr 474, the calcutta high court upheld the claim of the assessee to spread out a lump sum payment to ..... or deemed to be received under the act. under the mercantile system of accounting, therefore, book profits are liable to be taxed. the profits earned and credited in the books of account constitute the basis of computation of income. the system postulates the existence of tax insofar as monies due and payable by .....

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Mar 23 2009 (HC)

Commissioner of Income-tax Vs. Hi Lux Automotive (P.) Ltd.

Court : Delhi

Decided on : Mar-23-2009

Reported in : [2009]183TAXMAN260(Delhi)

..... for any relief.shri subash mogha, prop. shiv shakti painting works attended the office of the undersigned in response to summons under section 131 of the income-tax act, 1961. his statement on oath was recorded. in the statement he deposed that he had done the job work for the assessee. though he ..... in the following manner:shri hemant kumar, prop. bright enterprises attended the office of the undersigned in response to summons under section 131 of the income-tax act. he deposed that at present he has no books of account or bill book for verification. but he admitted that he used to supply wire ..... allowed by the itat vide its judgment dated 17-11-2006 and assailing that judgment the present appeal is preferred under section 260a of the income-tax act.6. the tribunal has, in detail, explained the manufacturing process of the assessee which requires not only raw material but also some job work ..... on the following basis:(a) all the payments were made to the said parties by the assessee by account payee cheques only.(b) wherever required income-tax at source was also deducted.(c) the payments made to the same parties in subsequent years have been accepted and those payments were allowed as ..... tractor lights. in the said return, he had claimed deduction of expenditure made from various parties on account of purchases of raw material.2. the income-tax officer passed the assessment order dated 26-3-1999, disallowing the expenditure to the extent of rs. 26,73,663 in respect of ten parties, .....

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Sep 22 2009 (HC)

Commissioner of Income Tax Vs. N.i.i.T. Ltd.

Court : Delhi

Decided on : Sep-22-2009

Reported in : (2009)226CTR(Del)521; [2009]318ITR289(Delhi); [2009]184TAXMAN472(Delhi)

valmiki j. mehta, j.1. the present appeals under section 260a of the income tax act, 1961, are filed against the common order passed by the income tax appellate tribunal for the assessment years 1998-1999, 1999-2000, 2000-2001 and 2001-2002. the appellant/revenue has proposed the following question of law:(a) whether in the facts ..... and circumstances of the case, the ld. itat erred in holding that the assessee was not liable to deduct tax under section 194i of the act in respect of ..... of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, [deduct income-tax thereon at the rate of-(a) ten per cent of the use of any machinery or plant or equipment;(b) fifteen per cent of the use of any land or ..... franchisee was to share the revenue and certainly it was not hire the premises provided by the assessee. therefore, the assessee is not liable to deduct the taxes under section 194-i of the act in respect of the amount shared by the assessee and remitted to the franchisee for infrastructure claims.9. none of the judgments cited by the revenue have .....

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Oct 09 2009 (HC)

Commissioner of Income Tax Vs. Hybrid Rice International Pvt. Ltd.

Court : Delhi

Decided on : Oct-09-2009

Reported in : [2010]321ITR63(Delhi); [2009]185TAXMAN25(Delhi)

..... year the actual cost to the assessee less all depreciation actually allowed to him under this act or under the income tax act 1922 or any act repeated by that act or any executive orders issued when the indian income tax act 1886 was in force.the actual cost has been defined in sub-section (1) of ..... brings out the ratio of the case and the same reads as under:the language of the provisions of section 32 and 34 of the income-tax act, 1961, is specific and admits of no ambiguity. section 32 allows depreciation as deduction subject to the provision of section 34. section 34 ..... the years in which the respondent was assessed as a non-resident under the indian income-tax act, the income-tax officer had 'actually allowed' only a portion of the amount towards depreciation allowable in assessing its world income. the mere fact that in the matter of calculation the total amount of depreciation was ..... the assessee made a claim or not because it is fair that when the indian income tax act is applied the assessee should be brought at par with the assessees who had suffered taxation under the act.we are unable to give such an artificial meaning to the expression 'all depreciation ..... 173. the relevant portions of the supreme court judgment in straw products ltd. case reads as under:the appellate assistant commissioner, disagreeing with the income-tax officer, held on appeal that the assessee had not been allowed excess depreciation allowance as per the original assessment and there was no basis for .....

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Oct 09 2009 (HC)

Commissioner of Income Tax Vs. Dlf Power Ltd.

Court : Delhi

Decided on : Oct-09-2009

Reported in : (2010)229CTR(Del)27; [2009]185TAXMAN356(Delhi)

..... ,68,429/-. the assessment order under section 143(3) of the income tax act, 1961 (hereinafter referred to as the 'act') was passed on 28.2.2005 and the income was assessed at rs. 11,03,91,000/- under section 115jb of the act. thereafter, the commissioner of income tax (cit) exercised jurisdiction under section 263 of the act and issued a notice to the respondent on 8.3.2007 ..... learned counsel for the parties before us on the following questions of law:1) whether the itat was correct in law in cancelling/setting aside the order passed by the cit under section 263 of the income tax act, 1961?2) whether the itat was correct in law in holding that after passing of order under section 154 of the ..... that date (as there is an amendment with effect from 1.4.2007) provided that where in the case of an assessee, being a company, the income tax payable on the total income, as computed under the act in respect of any previous year, is less than 7.5% (which stands amended to 10% with effect from 1.4.2007) of its book profits ..... act, the cit could not have exercised jurisdiction to cancel the assessment order under section 143(3) of the act?3) whether the itat was correct in law in holding that the assessment order was neither erroneous nor .....

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Jul 07 2009 (HC)

Jagdish Prasad Aggarwal (Huf) Vs. Commissioner of Income-tax

Court : Delhi

Decided on : Jul-07-2009

Reported in : [2010]187TAXMAN41(Delhi)

..... revenue.4. in view thereof, we are of the opinion that the petitioner is entitled to interest on the aforesaid amount of rs. 50,524 under section 214 of the income-tax act. rule is made absolute. interest on the aforesaid amount of rs. 50,524 shall be calculated from 1-4-1974 as per the provisions of section 214 of the ..... -3-1974.3. the contention of the petitioner is that as per the provisions of sections 207 and 213 of the income-tax act, which provide for advance payment of tax, the said advance tax is to be paid 'during the financial year'. since the instalment of rs. 55,106 paid on 15-3-1974 was duly credited in reserve ..... cit is that last payment of advance tax of rs. 55,106 was credited only on 25-3-1974, i.e., after the due date of 15 ..... ,038. since the petitioner had paid advance tax of rs. 66,562, a sum of rs. 50,524 becomes refundable to the petitioner, which was in fact refunded to him. however, the petitioner made a claim for interest on this amount under section 214 of the income-tax act, which has been refused by the commissioner of income-tax. the reason for refusal given by the .....

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Jan 16 2009 (HC)

The Commissioner of Income Tax (Central) -ii Vs. Capital Power Systems ...

Court : Delhi

Decided on : Jan-16-2009

Reported in : (2009)221CTR(Del)47

..... cit v. pawan kumar garg ita 881/2008, we held that there is no notification issued by the central board ..... sought to be raised in the present appeal is whether the joint director of income-tax (investigation), unit-vii, new delhi was empowered to issue the warrant of authorization for search and seizure operations under section 132(1) of the income-tax act, 1961 (hereinafter referred to as 'the said act'). in a separate decision delivered by us today itself in the case of ..... of the mere re-designation of deputy directors of income-tax as joint directors of income-tax, as per notification dated 23.10.1998 issued by the central government under section 117(1) of the said act, by itself mean that a joint director of income-tax is also empowered to authorize action under section 132(1) of the said ..... of direct taxes specifically empowering any joint director of income-tax (investigation) to authorize action under section 132(1) of the said act. we also held that the notification issued on 11.10.1990 by the central board of direct taxes empowering certain specified deputy directors of income-tax (investigation) and deputy commissioners would not, by virtue .....

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Jan 16 2009 (HC)

Anil Nanda and anr. Vs. Escorts Ltd. and ors.

Court : Delhi

Decided on : Jan-16-2009

Reported in : 156(2009)DLT697

..... acre and gave other concessions and benefits, e.g., recognition under section 35 of the income tax act, 1961' entitling deduction under the income tax act, 1961; a complete tax exemption under section 10(21) of the income tax act, 1961 as a charitable institute; recommendation under section 80g of income tax act, 1961 entitling the donors to tax deductions on' donations made to ehirc, delhi and import of medical and other equipments at ..... concessional rates of customs and excise duty.' ehirc, delhi accumulated reserves of rs. 110/- crores by way of donations and income ..... of certiorari may include a direction for refund if the claim is clearly within the time prescribed by the limitation act but it is not a compulsory remedy to replace a suit.(5) where the particular act contains no machinery for refund of tax collected in excess of constitutional limits or illegally collected a suit lies.(6) questions of the correctness of the .....

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