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Judgment Search Results Home > Cases Phrase: income tax act Court: karnataka Year: 1999 Page 1 of about 105 results (0.098 seconds)

Jun 28 1999 (HC)

Shivalingeshwar Oil Mill, Haveri Vs. Chanaveerappa Basalingappa Kaddi

Court : Karnataka

Decided on : Jun-28-1999

Reported in : ILR1999KAR4125; 1999(6)KarLJ320

..... authority of our high court does not support the case of the judgment-debtor firm herein. 9. proposing to rely on certain decisions of the supreme court rendered under the income-tax act, 1961, dealing with the expression 'person' defined under section 2(31) thereof, a faint attempt was sought to be made by the learned counsel for the judgment-debtor to impress ..... including a hindu undivided family squarely attracts applicability of this definition contained in section 3(42) of the general clauses act, 1897. the supreme court observed in that case that the inclusive definition in the general clauses act would also apply to the income-tax act and it is in this backdrop of the inclusive definition of 'person' contained in both section 2(9) of ..... the income-tax act, 1982 and section 3(42) of the general clauses act, the supreme court held therein that a firm being a body of individuals ..... would be a person within the meaning of the income-tax act as well. but, this exposition of the definition of the term 'person' contained in .....

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Nov 30 1999 (HC)

Kwality Biscuits Ltd. Vs. Commissioner of Income-tax

Court : Karnataka

Decided on : Nov-30-1999

Reported in : (2000)159CTR(Kar)316; [2000]243ITR519(KAR); [2000]243ITR519(Karn)

..... depreciation. then alone the formula prescribed in this clause would make sense and it would be consistent with the object sought to be achieved by enacting section 115j of the income-tax act, 1961. if 'loss' were to be taken as pre-depreciation loss then the resultant computation will not be in conformity with the tenor of the provisions of section 205. the ..... account for the relevant previous year prepared under sub-section (1a) as increased by various amounts given in the section. thus, for the purpose of assessing tax under section 115j, firstly, the profit as computed under the income-tax act has to be prepared and thereafter the book profit as contemplated by the provisions of section 115j are to be determined and then the ..... , learned standing counsel, has submitted that under section 210, an assessee has to file his own estimate and pay the tax accordingly in advance. since the income under section 115j is treated to be an income, therefore, all the provisions of the income-tax act are applicable.9. we have considered over the matter. section 115j as inserted by the budget speech of the finance minister ..... ) signifies the amount arrived at after taking into account the amount of depreciation and it has to be so read and understood in the context of section 115j of the income-tax act, 1961. ' 4. in view of the judgment of the apex court we are of the view that, for the purpose of section 115j of the .....

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Dec 09 1999 (HC)

Gayathri Textiles Vs. Commissioner of Income-tax

Court : Karnataka

Decided on : Dec-09-1999

Reported in : (2000)160CTR(Kar)339; [2000]243ITR674(KAR); [2000]243ITR674(Karn)

..... of the case, whether the tribunal is right in remanding the matter to the income-tax officer to pass a fresh penalty order afresh ?' 2. the facts of the ..... obtain the previous permission from the inspecting assistant commissioner of income-tax for imposingthe penalty under section 271(1)(c) is only a procedural error and it is not fatal to the order of penalty passed under section 271(1)(c) of the income-tax act, 1961 ? 2. on the facts and in the circumstances ..... in view of an illegality which had occurred during the course of the assessment proceedings. on receipt ofthe record, it was open to the income-tax officer to take up the matter from the point at which the illegality supervened and to correct his proceeding's. it was pointed out in ..... it is not fatal to the order of penalty passed under section 271(1)(c) of the i.t. act, 1961 ; and the tribunal was right in remanding the matter to the income-tax officer to pass fresh penalty order.5. the reference is answered in favour of the revenue and against theassessee. ..... act is only a procedural irregularity not involving the question of jurisdiction. in the case of guduthur bros. v. ito : [1960]40itr298(sc) , notice for penalty was issued but opportunity of hearing was not1 given. the appellate assistant commissioner set aside the order imposing' the penalty as defective and directed the refund. the income-tax .....

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Jun 08 1999 (HC)

Micro Labs Ltd., Vs. Deputy Commissioner of Income-tax (Assessment) an ...

Court : Karnataka

Decided on : Jun-08-1999

Reported in : (2001)166CTR(Kar)148; [2001]247ITR333(KAR); [2001]247ITR333(Karn); [2001]115TAXMAN27(Kar)

..... 4. it is stated that there was a search in respect of appellants nos. 1 to 3 by issue of notice under section 132 of the income-tax act, 1961 ('the it act' for short), on september 10, 1997, and in the course of the search, some records of appellants nos. 1 to 4 had been seized ..... scheme. the petitioners' contention, if accepted, would amount to holding that the vdi scheme has the effect of implied suspension of specific provisions of the income-tax act. such suspension is neither permissible nor contemplated. if any assesseeor person was interested in avoiding a search or survey, it was always open to him ..... of law for the purpose of just, proper and efficient management of the scheme and in public interest, in cases of survey, which under the income-tax act stands on a different footing when compared to search.22. it is not therefore possible to read the words 'or in respect of earlier previous year ..... question no. 27, under the circular dated july 25, 1997, the cbdt has clarified that a survey under section 133a or 133a(5) of the income-tax act will bar a person from making a disclosure for the previous year in which the search was carried out. while answering question no. 36 under circular ..... section 132 or requisition under 132a was made, or in respect of any earlier previous years. the phrase 'or survey under section 133a under the income-tax act' was later inserted before the phrase 'or in respect of any earlier previous year'. this has led to a situation where a reference to the .....

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Sep 02 1999 (HC)

K.V. Kuppa Raju and ors. Vs. Government of India and ors.

Court : Karnataka

Decided on : Sep-02-1999

Reported in : ILR1999KAR4445; [2000]242ITR522(KAR); [2000]242ITR522(Karn)

..... . extracts of these provisions are given in an 'annexure' to this report. after reviewing all the laws concerned, the group has taken the view that section 33 of the singapore income tax act with a few changes will be best suited to our conditions. it may be noted that an expert group was set up in singapore some time in 1988 to review ..... on the memorandum accompanying the finance bill which reads as under (see [1992] 194 itr 170) : 'measures against tax avoidance clubbing of minors' income. section 64 of the income-tax act provides that in computing the total income of any individual, there shall be included all such income as arises directly or indirectly to a minor child of such individual from,-- (i) the admission of the minor ..... relevant previous year. the bill also seeks to insert a new clause (32) in section 10 of the income-tax act so as to provide that in case the income of an individual includes income of his minor child in terms of section 64 of the act, such individual shall be entitled to exemption of one thousand five hundred rupees in respect of each minor child ..... existing provisions of section 64 with regard to clubbing of minors' income have also led to litigation between income-tax department and the assessee. the bill, therefore, seeks to amend section 64 of the income-tax act to provide that all income of a minor is to be included in the income of his parent. however, the income derived by the minor from manual work or from any activity .....

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Mar 05 1999 (HC)

V.B. Desai and anr. (L/Rs. of Late B.J. Desai) Vs. Administrative Offi ...

Court : Karnataka

Decided on : Mar-05-1999

Reported in : [2003]260ITR273(KAR); [2003]260ITR273(Karn)

..... the firm alone is before the settlement commission, then, a different view could have been taken.5. i have considered over the matter.6. section 155(2)(c) of the income-tax act provides that assessment of a member of an association or body of individuals could be amended on any order passed under sub-section (4) of section 245d on the application ..... opportunity to surrender and to have the matter settled through the settlement commission. the decision of the settlement commission is made final and conclusive by section 245-i of the income-tax act, 1961.section 245l declares all proceedings before the settlement commission to be judicial proceedings. the provision for settlement would show that it is in the nature of statutory arbitration to ..... of fact recorded by the commission. the court would interfere with the order of the settlement commission only if it was found to be contrary to the provisions of the income-tax act. reliance is also placed on the decision given in the case of n. krishnan v. settlement commission : [1989]180itr585(kar) wherein, it was observed that, the power of judicial review ..... applicant and the partners will be paid in eight quarterly instalments, the first instalment starting after 35 days of service of demand notice. interest under section 220(2) of the income-tax act was to be charged from the firm as well as the partners with the last quarterly instalments. it was also observed that the settlement shall be declared void if either .....

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Mar 11 1999 (HC)

Sabari Trust and ors. Vs. Appropriate Authority and anr.

Court : Karnataka

Decided on : Mar-11-1999

Reported in : [1999]239ITR763(KAR); [1999]239ITR763(Karn)

..... differ, according to the nature of the statute, between fiscal statutes or non-fiscal statutes. among the non-fiscal statutes, the land acquisition act is an important legislation. among the fiscal statutes, the income-tax act, the wealth-tax act, the gift-tax act, the municipalities act, etc., are important. in fixing the market value of a particular asset or property, the approach and analysis are likely to vary ..... of an immovable property who has entered into an agreement to sell the same which cannot be completed by reason of an order of purchase under section 269ud of the income-tax act and at what rate, will have to be decided in the facts and circumstances of each case. all that can be observed by way of a general principle is that ..... of the principles of natural justice in the inquiry before the competent authority. by and large, it can be said that in the inquiry under chapter xx-a of the income-tax act, 1961, the transferor and/or transferee as well as the occupant and any other known interested person should be told the nature of allegations against him including the material collected ..... is stated that the undivided share of the property comes to 1047.14 sq. feet. a statement in form no. 37-1 as required under chapter xx-c of the income-tax act was filed along with a copy of the agreement dated july 20, 1995. show-cause notice was issued for pre-emptive purchase. on the ground that the consideration of the .....

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Dec 07 1999 (HC)

Commissioner of Income-tax Vs. Janmabhoomi Press Trust

Court : Karnataka

Decided on : Dec-07-1999

Reported in : [2000]242ITR703(KAR); [2000]242ITR703(Karn)

..... (page 458) :'it is plain that when the assessee is a trust entitled to benefit under section 11 of the income-tax act, the only question that arises for consideration is whether that income or the accumulated income thereof is applied for charitable purpose. if investments have been made in the construction of a building which in turn would augment its ..... income-tax (appeals), the department appealed before the income-tax appellate tribunal.3. the controversy in the present matter is covered by the decision given in itrc nos ..... assessing officer did not treat the repayment of loan taken by the assessee for the purpose of construction of a commercial complex as income applied for charitable purposes. in an appeal filed by the assessee, the deputy commissioner of income-tax (appeals) directed the assessing officer to allow the assessee's claim. against the order of the deputy commissioner of ..... . 100-102 of 1993, dated august 9, 1995 (cit v. janmabhumi press trust : [2000]242itr457(kar) ) wherein it was observed .....

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Dec 03 1999 (HC)

V.M. Salgaocar and Brothers (P.) Ltd. Vs. Commissioner of Income-tax

Court : Karnataka

Decided on : Dec-03-1999

Reported in : [2001]250ITR682(KAR); [2001]250ITR682(Karn); [2001]119TAXMAN576(Kar)

..... indicate the presence of the closing stock relating to the chips could give rise to a reasonable belief as envisaged under section 147(a) of the income-tax act, and in that view in concluding that the assessing officer had the jurisdiction to initiate proceedings under section 147(a) of the ..... indicate the presence of the closing stock relating to the chips could give rise to a reasonable belief as envisaged under section 147(a) of the income-tax act, and in that view in concluding that the assessing officer had the jurisdiction to initiate proceedings under section 147(a) of the ..... tribunal, bangalore bench, has referred the following question of law under section 256(1) of the income-tax act, 1961, in respect of the assessment year 1977-78 :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding ..... that by reason of omission or failure on the part of the assessee to disclose fully and truly all material facts which are necessary for assessment, the income chargeable to tax had escaped assessment. at the time of initiation of proceeding's it has to be seen by the assessing officer that the assessee has not fully and ..... reasonable belief in the mind of the assessing officer that on account of omission on the part of the assessee to disclose the existence of this item, income chargeable to tax had escaped assessment. the tribunal also found that so far as chips were concerned, the main argument of the assessee was that the value of this particular .....

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Sep 29 1999 (HC)

Widia (India) Ltd. and ors. Vs. Commissioner of Income-tax

Court : Karnataka

Decided on : Sep-29-1999

Reported in : (1999)151CTR(Kar)142; [2000]242ITR678(KAR); [2000]242ITR678(Karn)

..... amount arrived at after taking into account the amount of depreciation and it has to be so read and understood in the context of section 115j of the income-tax act, 1961.'22. in this case, the budget speech of the finance minister (see : [1987]165itr14(sc) ), to the following effect was also taken ..... formula prescribed in this clause would make sense and it would be consistent with the object sought to be achieved by enacting section 115j of the income-tax act, 1961. if 'loss' were to be taken as pre-depreciation loss then the resultant computation will not be in conformity with the tenor of ..... which would have been allowed on such assets in the regular method of assessment in accordance with the provisions of sections 28 to 43 of the income-tax act, 1961, without applying the provisions of section 115j(1), and the resultant amounts of written down value will only have to be carried forward ..... which would have been allowed on such assets in the regular method of assessment in accordance with the provisions of sections 28 to 43 of the income-tax act, 1961, without applying the provisions of section 115j(1), and the resultant amounts of written down value will only have to be carried forward ..... which would have been allowed on such assets in the regular method of assessment in accordance with the provisions of sections 28 to 43 of the income-tax act, 1961, without applying the provisions of section 115j(1), and the resultant amounts of written down value will only have to be carried forward .....

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