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Judgment Search Results Home > Cases Phrase: income tax act Court: karnataka Year: 2012 Page 1 of about 46 results (0.109 seconds)

Sep 11 2012 (HC)

Gupta Coal (India) Limited, Rep. by Its Authorised Signatory, Sumith R ...

Court : Karnataka

Decided on : Sep-11-2012

..... particular object as mentioned supra. merely because it is open for petitioner no.1 to submit the income tax returns before the concerned income tax authority within one year as per section 139(4) of the income tax act, the respondent no.1 is not expected to wait for one more year by deviating from the ..... financial year 2010-11 is a mere procedural delay, for which specific exception has been provide under the provisions of section-139 of the income tax act, 1961; the delay on the part of the 1st petitioner is neither intentional nor a deliberate breach of fulfillment of the conditions set ..... time before the expiry of one year from the end of the relevant assessment year under section 139(4) of the income tax act. however, according to the petitioners, the 1st respondent intimated the 1st petitioner by an oral communication that the time of file the acknowledged copy ..... 3.3.2012 bringing to the notice of the 1st respondent that as per section 139(4) of the income tax act, the petitioners have got opportunity to submit the returns before the income tex authority at any time before the expiry of one year from the end of the relevant assessment year. ..... terms and conditions stated therein are not strictly adhered to and necessary relaxation is permitted wherever necessary and desired; since the petitioners have filed the income tax returns as required and produced the acknowledgement after submission of the techno-commercial bid within the extended time, 1st respondent ought not to have .....

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Jun 05 2012 (HC)

A. Kowsalya Bai and ors Vs. Union of India and ors.

Court : Karnataka

Decided on : Jun-05-2012

..... the constitution praying to declare that s.206aa of the income tax act, 1961 is unconstitutional, etc.)these petitions have been filed seeking for a declaration that s.206 aa of the income tax act, 1961 is unconstitutional and for costs.it is stated, petitioners are small investors. for depositing their savings out of their meager income, they approached respondents 3 and 4, for earning better interest ..... /returns. they do not have any source of income other than their investment. it is also stated specifically, they ..... source on such small investments would cause undue hardship, introduced s.139 a1(i) of the act in the year 1995 which enables such persons not assessable to income tax to file a declaration to that effect in the prescribed format, by which income tax would be deducted at source. s.206aa which is introduced has come into effect from 1.4.2010 as per ..... by the legislature in its wisdom. what is not in dispute is, persons whose income is below the taxable limit need not have a pan and also they need not furnish income tax declaration/returns. of course, under the finance act, it is made clear that a person whose income is less than the taxable limit is not taxable. such of the small investors who .....

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Jun 05 2012 (HC)

Smt A. Kowsalya Bai and Others Vs. Union of India and Others

Court : Karnataka

Decided on : Jun-05-2012

Reported in : 2012(3)KCCR2471

..... the constitution praying to declare that s.206aa of the income tax act, 1961 is unconstitutional, etc.)these petitions have been filed seeking for a declaration that s.206 aa of the income tax act, 1961 is unconstitutional and for costs.it is stated, petitioners are small investors. for depositing their savings out of their meager income, they approached respondents 3 and 4, for earning better interest ..... /returns. they do not have any source of income other than their investment. it is also stated specifically, they ..... source on such small investments would cause undue hardship, introduced s.139 a1(i) of the act in the year 1995 which enables such persons not assessable to income tax to file a declaration to that effect in the prescribed format, by which income tax would be deducted at source. s.206aa which is introduced has come into effect from 1.4.2010 as per ..... by the legislature in its wisdom. what is not in dispute is, persons whose income is below the taxable limit need not have a pan and also they need not furnish income tax declaration/returns. of course, under the finance act, it is made clear that a person whose income is less than the taxable limit is not taxable. such of the small investors who .....

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Sep 11 2012 (HC)

Gupta Coal (India) Limited, Rep. by Its Authorised Signatory, Sumith R ...

Court : Karnataka

Decided on : Sep-11-2012

..... particular object as mentioned supra. merely because it is open for petitioner no.1 to submit the income tax returns before the concerned income tax authority within one year as per section 139(4) of the income tax act, the respondent no.1 is not expected to wait for one more year by deviating from the ..... financial year 2010-11 is a mere procedural delay, for which specific exception has been provide under the provisions of section-139 of the income tax act, 1961; the delay on the part of the 1st petitioner is neither intentional nor a deliberate breach of fulfillment of the conditions set ..... time before the expiry of one year from the end of the relevant assessment year under section 139(4) of the income tax act. however, according to the petitioners, the 1st respondent intimated the 1st petitioner by an oral communication that the time of file the acknowledged copy ..... 3.3.2012 bringing to the notice of the 1st respondent that as per section 139(4) of the income tax act, the petitioners have got opportunity to submit the returns before the income tex authority at any time before the expiry of one year from the end of the relevant assessment year. ..... terms and conditions stated therein are not strictly adhered to and necessary relaxation is permitted wherever necessary and desired; since the petitioners have filed the income tax returns as required and produced the acknowledgement after submission of the techno-commercial bid within the extended time, 1st respondent ought not to have .....

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Jan 06 2012 (HC)

Gouli Mahadevappa Vs. Income-tax Officer and Another

Court : Karnataka Dharwad

Decided on : Jan-06-2012

..... and not to be applied for the entire chapter vi e relating to taxation of capital gains, especially to section 45 of the income tax act? (d) whether on the facts and the circumstances of the case, the income tax tribunal is correct in law in rejecting the contention that the term capital gain in section 54f has to be arrived by imposing section 50c ..... reinvested rs.24,00,000/- for construction of residential house at gangavathi and sought exemption from the payment of capital gain tax under section 54f of the income tax act (for short ??the it act). 2. the assessing authority found that under section 50c of the it act, the value of the property is rs.36,00,000/-. the cost price of site paid by the assessee at ..... of the act in order to comply with the provisions of charging section 45 of the income tax act? (e) whether on the facts and the circumstances of the case, the income tax tribunal is correct in law in rejecting the contention that the harmonious construction of section 54f of ..... be worked out applying section 48 without imposing section 50c into it? (c) whether on the facts and the circumstances of the case, the income tax tribunal is correct in law in rejecting the contentions that provisions of section 54f(1)(a) of the income tax act will become unworkable, if the construction placed thereon, would require the consideration as per section 54c of the .....

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Jan 04 2012 (HC)

The Commissioner of Income Tax and Another Vs. M/S Infosys Technologie ...

Court : Karnataka

Decided on : Jan-04-2012

..... detail. 7. mr. indra kumar, mainly submits that the tribunal has committed an error in law in taking the view that the commissioner was acting beyond the limits of section 263 of the income tax act, 1961 [for short, the act] because the tribunal thought the commissioner had another point of view other than what the assessing authority had and therefore, set aside the order ..... in the case of commissioner of income tax vs electro house [(1971) 82 itr 824 (sc)] and in particular following the passage; section 33b(1) reads ..... assuming that in a situation of this nature the commissioner has acted without jurisdiction is an error in law committed by the tribunal and that requires correction. 8. in this regard mr. indra kumar has drawn our attention to the corresponding provision in the income tax act, 1922 namely section 33(b) of that act which had come in for interpretation before the supreme court ..... : the commissioner may call for and examine the record of any proceeding under this act and if he considers that any order passed therein by the income-tax officer is erroneous in so far as it is prejudicial to the interests of the revenue, he may, after giving the assessee an opportunity of .....

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Jan 12 2012 (HC)

The Commissioner of Income Tax and Another Vs. M/a Standard Chartered ...

Court : Karnataka

Decided on : Jan-12-2012

..... concept of change of opinion. 35. the concept of change of opinion while is not a statutory provision found in either the income tax act, 1922 or the it act, 1961, or even in the interest tax act, 1974, it is a phrase which has been developed in the context of language of the provisions of sections 34[b] and 147 ..... aside the said order and etc.,) 1. these five appeals by the revenue under section 21h of the interest tax act, 1974 [for short, the act] read with section 260a of the income tax act, 1961 [for short, the it act], are in respect of the assessment years 1992-93, 1993-94,1994-95,1995-96 and 1996-97 respectively ..... which is a situation which has been examined by the courts only in the context of the provisions of section 147[b] of the it act and the corresponding provision under the income tax act, 1922. it is pointed out that lesser period of limitation operates in a situation where there is no failure or omission on the ..... 478 reading as under: from a combined review of the judgments if this court, it follows that an income tax officer acquires jurisdiction to reopen as assessment under section 147 [a] read with section 148 of the income tax act, 1961, only if on the basis of specific, reliable and relevant information coming to his possession subsequently, he ..... (prayer: ita 1156 of 2006 is filed under section 21h of the int.tax act r/w sec.260a of the income tax act, 1961 arising out of order dated 07.04.2006 passed in int.t.a.no.21/bang/2002, for the assessment year 1992 .....

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Jan 12 2012 (HC)

The Commissioner of Income Tax and Another Vs. M/S Standard Chartered ...

Court : Karnataka

Decided on : Jan-12-2012

..... that the assessment in pursuance of a return u/s.139 is different from re-assessment by invoking section 147 and by issue of notice u/s.148 of the income tax act 1961 in the guise of reassessment if an earlier assessment is sought to be concluded on the return beyond the time permitted u/s.153, it was frowned upon particularly ..... would arrive at this very destination even if we were to traverse along a different dialectic, namely, if we were to analyze the circumstances in which section 147 of the income-tax act could be invoked. there is plenitude of precedents on this aspect of the law; hence only some of them shall be discussed. the question that had arisen before the bombay ..... explanation 2 to section 147 and in its clauses (a) and (b). in either event the assessing officer would invoke the powers conferred upon him by section 147 of the income-tax act culminating in the completion of the assessment. it is also conceivable that the incorrectness of the return may not be detected or noticed within the time period set-down in ..... commencement of assessment proceedings they must first be brought to their logical conclusion by framing an assessment before embarking on the proceedings as envisaged in sections 147/148 of the income-tax act; or more precisely stated, can resort to section 147 be made even whilst the normal assessment proceedings are pending conclusion. to find the answer we must keep in perspective that .....

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Oct 03 2012 (HC)

The Commissioner of Income Tax and Another Vs. Mrs. B. Sumangaladevi

Court : Karnataka Dharwad

Decided on : Oct-03-2012

..... the appeal may be stated as under: during the course of income tax department search in the case of b.b. swamy on 10.12.1991, the income tax department seized certain amount and as per the provisions of the income tax act, 1961 (in short ??the act), the same was adjusted as against the income tax demand raised against him. further, simultaneous search was conducted at bangalore ..... years. the board is constituted under the central board of revenue act, 1963. it is one of the six authorities constituted under the act (vide sections 116 of the act). this is the highest executive authority for administering the direct tax. it controls all the income tax authorities that are appointed under the income tax act. it is empowered to issue orders and directions to all ..... the officers employed in the department and to make rules for carrying out the provisions of the act (vide sections 119 and 268a of the act). tax payers desire to reduce their tax liability to the minimum. ..... this is an appeal filed under section 260a of the income tax act, 1961, by the revenue, questioning the legality of the order dated 1.10.2004 made in ita no.77/pnj/2002 on the file of income tax appellate tribunal (itat), panaji bench at panaji, confirming the order of the commissioner of income tax (appeals), at belgaum. 2. brief facts of the case .....

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Jan 17 2012 (HC)

The Commissioner of Income Tax and Others Vs. M/S H.P. Global Soft Ltd ...

Court : Karnataka

Decided on : Jan-17-2012

..... with a non-resident business contact, ensuring that its profits are reduced, will be a situation attracting the provisions of section 42 of the income tax act 1922 and the supreme court having rejected the stand of the assessee, in that case that there was no liability on the part of the ..... to the judgment of the supreme court in this case which was in the context of the provisions of section 42(2) of the indian income tax act (x) of 1922, which provision also deals with a situation of an arrangement between a resident and a non-resident ensuring that the profits ..... software. while the first question relating to the entitlement claimed by the assessee under the provisions of section 10a of the income tax act, 1961 (for short hereinafter referred to as the act) is in respect of the two units which are involved in creation of software and which is exported, the second question ..... 23. we have bestowed our attention to the submissions made at the bar, perused the order of the assessing authority, commissioner for income tax (appeals) and also of the income tax appellate tribunal. 24. insofar as the first question is concerned, while it is true that there did exist a close connection between ..... ita no.572/mum/2000 dated 25-11-2005 confirming the order of the appellate commissioner and confirm the order passed by the deputy commissioner of income tax, special range-15, mumbai and etc.,) 1. these four appeals by the revenue arise out of the assessment orders passed by the assessing officer .....

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