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Judgment Search Results Home > Cases Phrase: income tax act Court: karnataka Year: 2014 Page 1 of about 97 results (0.079 seconds)

Mar 25 2014 (HC)

The State of Karnataka Represented by the Secretary and Others Vs. M/S ...

Court : Karnataka

Decided on : Mar-25-2014

..... tribunal at bangalore, dismissing the appeal.) 1. the state government as well as the assessees have filed these revision petitions under section 55(1) of the karnataka agriculture income-tax act, 1957 (for short 'the act) challenging the order passed by the karnataka appellate tribunal. 2. though these revision petitions are coming on for admission, with the consent of the learned counsel for the ..... appeal.) (prayer: crp filed u/s 55(1) of the karnataka agricultural income tax act, 1957 against the order dated: 16.9.2011 in sta no.255/2010 on the file of the karnataka appellate tribunal, bangalore, partly allowing the appeal.) (prayer: crp filed u ..... appeal filed u/sec.34 of kait act.) (prayer: crp filed u/s 55(1) of karnataka agricultural income-tax act, 1957, against the order dated 2.9.2011 passed in sta no.2424/2010 on the file of karnataka appellate tribunal, bangalore, partly allowing the ..... in sta no.371/2005 on the file of karnataka appellate tribunal, bangalore, allowing the appeal filed u/s 32(5)(a) of karnataka agricultural income tax act, 1957.) (prayer: crp filed u/sec 55(1) of kait act, 1957, against the judgment and order dated 07.03.2011 passed in sta.254/2007 on the file of karnataka appellate tribunal, bangalore, allowing the .....

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Mar 25 2014 (HC)

The State of Karnataka Represented by the Secretary and Others Vs. M/S ...

Court : Karnataka

Decided on : Mar-25-2014

..... tribunal at bangalore, dismissing the appeal.) 1. the state government as well as the assessees have filed these revision petitions under section 55(1) of the karnataka agriculture income-tax act, 1957 (for short 'the act) challenging the order passed by the karnataka appellate tribunal. 2. though these revision petitions are coming on for admission, with the consent of the learned counsel for the ..... appeal.) (prayer: crp filed u/s 55(1) of the karnataka agricultural income tax act, 1957 against the order dated: 16.9.2011 in sta no.255/2010 on the file of the karnataka appellate tribunal, bangalore, partly allowing the appeal.) (prayer: crp filed u ..... appeal filed u/sec.34 of kait act.) (prayer: crp filed u/s 55(1) of karnataka agricultural income-tax act, 1957, against the order dated 2.9.2011 passed in sta no.2424/2010 on the file of karnataka appellate tribunal, bangalore, partly allowing the ..... in sta no.371/2005 on the file of karnataka appellate tribunal, bangalore, allowing the appeal filed u/s 32(5)(a) of karnataka agricultural income tax act, 1957.) (prayer: crp filed u/sec 55(1) of kait act, 1957, against the judgment and order dated 07.03.2011 passed in sta.254/2007 on the file of karnataka appellate tribunal, bangalore, allowing the .....

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Sep 09 2014 (HC)

Commissioner of Income-tax, Karnataka (Central) Vs. Islamic Academy of ...

Court : Karnataka

Decided on : Sep-09-2014

..... be cancelled. if the trustees are misappropriating the funds, if they are maintaining false accounts, it is open to the authorities to deny the benefit under section 11 of the income tax act, but that is not a ground for cancelation of registration itself. that is precisely what the tribunal has held. therefore, the substantial question of law is answered in favour ..... in the accounts and payments made to the members of the family which are recorded in code numbers, the benefit under section 11 of the income tax act need not be extended and such amounts should be taxed. but that is not a justification for cancellation of registration of the trust. 7. section 12aa provides for procedure for cancellation of registration of ..... words. the activities of the trust are not carried out in accordance with law and contrary to the provisions of the income tax act. therefore, he submits that a case for cancellation is made out and the tribunal erroneously set-aside the cit order. 6. per contra, learned counsel appearing for the assessee submitted that when once the genuineness of the trust is ..... appeal against the order passed by the commissioner of income tax cancelling registration. 2. the assessee was registered under section 12a of the income tax act, 1961 by the cit, karnataka-iii, bangalore, vide certificate dated 4.6.1992. recognition under section 80g was also granted to the assessee vide certificate dated 3.11.1992 by the cit, karnataka-iii, bangalore. the recognition granted under section .....

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Nov 07 2014 (HC)

Director of Income-tax (Exemption), Bangalore Vs. Karnataka Industrial ...

Court : Karnataka

Decided on : Nov-07-2014

..... that director of income tax (exemption) has not given any finding with regard to genuineness of the activities or the activities not in accordance with the objects of the institutions ..... the tribunal which has set aside the order passed by the lower authorities cancelling the registration of the assessee as a charitable trust under section 12a of the income tax act, 1961 (for short hereinafter referred to as 'the act'). 2. the assessee, karnataka industrial area development board, (for short hereinafter referred to as 'kiadb') was granted registration under section 12a of the ..... is entitled to continue registration under section 12a of the act, without appreciating the fact that, in view of the amendment to section 2(15) of the act, the activities carried on by the assessee were commercial in nature and therefore cannot be considered as charitable under section 2(15) of the income tax act? (ii) whether the tribunal was correct in holding ..... act vide order dated 20.6.1988 passed by the commissioner of income tax (exemption). a notice was issued to the assessee under section 12aa(3) of the act calling upon to show cause as to why the said registration should not be cancelled on the .....

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Feb 28 2014 (HC)

Commissioner of Income Tax-iii Revenue Buildings and Another Vs. M/S. ...

Court : Karnataka

Decided on : Feb-28-2014

..... on the assessee when a deduction is claimed by him to prove that he is entitled to the said deduction. the object of section 80j of the income tax act may be for the industrial growth, but the relief can be given only when the assessee falls within the four corners of law. on an interpretation ..... bench, bangalore, in appeal proceedings ita n0.930/bang/2012, as sought for in this appeal.) (prayer: this ita is filed under sec.260-a of income tax act 1961, arising out of order dated 30/04/20 j 3 passed in ita no.263/bang/2012, for the assessment year 2006-07, praying this hon' ..... consider the following substantial questions of law: (i) whether the respondent-assessee is entitled io the benefit of deduction under section 80-ja of the income tax act, 1961? (ii) whether the business activity of the respondent-assessee would fall within the ambit of the expression "infrastructure facility" as occurred in section so- ..... ia of the income tax act, in particular the explanation appended to sub-section (4) thereof? 3. sri. f. 1. sanmathi, learned counsel appearing for the appellants submitted that the ..... 30/04/2013, as sought for in this appeal.) 1. these appeals are filed by the revenue under section 260a of the income tax act, 1961 (for short 'the act3) against the order dated 30th april 2013 made in ita nos.263, 930 and 931/bang/2012 passed by the .....

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Oct 07 2014 (HC)

Commissioner of Income-tax, Mangalore Vs. Manipal Finance Corporation ...

Court : Karnataka

Decided on : Oct-07-2014

..... also section 41(1) of the act in the case of cit v. industrial credit and development syndicate ltd. [2006] 285 itr 310/155 taxman 90 (kar.). after referring to the judgment of ..... to tax is attracted, viz., the accrual of the income or its receipt. it is the income which has really accrued or arisen to the assessee that is taxable. whether the ..... to be charged as income under the act. he relies on the judgment of this court and various other high courts in support of his contention and submits the order passed by the tribunal is valid and do not call for interference. 7. this court had an occasion to consider section 2(24) of the income tax act which defines what an 'income' is as well ..... ] 222 itr 583/88 taxman 536, morvi industries ltd. v. cit [1971] 82 itr 835(sc) and cit v. t v sundaiam iyengar and sons ltd. [1996] 222 itr 344/88 taxman 429, this court has held as under: "from the foregoing what emerges is that income-tax is a levy on income. the it act takes into account two points of time at which the liability .....

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Sep 26 2014 (HC)

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Decided on : Sep-26-2014

..... ] 82 itr 913, wherein it was held that the circular issued by the board would be binding on all officers and persons employed in the execution of the income-tax act. thus, the income-tax officers are bound to follow the instruction issued by the board." and instructed the ito's that "while completing the assessments they should keep in mind the assurance given ..... explanation found in the finance bill, 1986, whereunder the purpose of insertion of said section has been explained as under: 'under the existing provisions of section 56 of the income-tax act, any income by way of winnings from lotteries, cross-word puzzles, races including horse races, card games and other games of any sort or from gambling or betting of any nature whatsoever ..... first instance after issuance of show cause notice by the third respondent they have invoked the extraordinary writ jurisdiction of this court since there is no appeal provisions under the income tax act to challenge the show cause notice and when the matter was under consideration before this court assessing officer has passed the assessment orders without jurisdiction and as such they have ..... ) as being barred by limitation (annexures-b, b1, b2, b3). (3) declare that the circulars issued by the 2nd respondent (annexure-a) is binding on all authorities under the income tax act, 1961 including the 3rd respondent. (4) declare that the action of the 3rd respondent issuing show cause notices (annexures-b, b1, b2, b3) is illegal and the same is contrary .....

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Sep 17 2014 (HC)

Venugram Multipurpose Co-Operative Credit Society Ltd. Vs. The Income- ...

Court : Karnataka Dharwad

Decided on : Sep-17-2014

..... tribunal, panaji bench, paimaji, appeal filed by the assessee is dismissed.) 1. the assessee has come up in appeal invoking section 260a of the income tax act, 1961 (for short ??the act'), calling in question the assessment order dated 31.10.2012, annexure 'b', the order dated 07.10.2013 of the first appellate authority, annexure 'c' and order dated 17.04. ..... applies to the appellant's multi-purpose co-operative credit society, hence, entitled to the deduction under section 80p(2)(a)(i) of the 'act'. the authorities namely, income tax officer, the first appellate authority and the tribunal having missed the bus and not noticed the essential fact of constitution of the appellant's society, concluded that the appellant ?? assessee ..... primary co-operative bank disentitled to the benefit of deduction under section 80p(2)(a)(i), in the light of section 80p(4) of the 'act'. that order when carried in first appeal before the commissioner of income tax (appeals), belgaum, was confirmed by dismissal of the appeal by order dated 07.10.2013, annexure 'c'. the appellant preferred appeal before the tribunal ..... 2014 of the income tax appellate tribunal, panji branch, panaji (for short 'tribunal') annexure 'a', declining to extend the benefit of deduction under section 80p(2)(a)(i) of the act. 2. the crux of the matter lies in the registration of the appellant co-operative credit society under .....

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Oct 14 2014 (HC)

Commissioner of Income-tax, Mangalore Vs. Syndicate Bank Syndicate Hou ...

Court : Karnataka

Decided on : Oct-14-2014

..... debts is directly covered by the decision of the income tax appellate tribunal, bangalore as well as the provision for losses cannot be added back to the book profit under section 115ja of the income tax act, 1961 (for short hereinafter referred to as 'the act'). 2. the assessee is carrying on business in banking ..... . in respect of the assessment year 1999-2000 the assessee filed the return of income computing its total income under the regular provisions of the act as well as under section 115ja of the act. ..... assets is not an ascertained liability and the said two items came to be added back. the assessee preferred an appeal to the commissioner of income tax, appeals. the appellate authority held that the provision for bad and doubtful debts is an ascertained liability and therefore is allowable as deduction, by ..... of m/s. canbank financial services ltd. further it held, provision for loss of assets is covered by section 36(i)(viia) of the act. aggrieved by the same the revenue preferred appeal to the tribunal. the tribunal confirmed the order of the appellate authority and held the provision ..... terms of explanation to section 115ja of the act, in particular clauses (c) and (g)'. 4. this court had an occasion to consider the said question in the case of cit v. yokogawa india ltd. [2012] 204 taxman 305/17 taxmann.com 15 (kar.) wherein it was held as under : ?? " .....

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Jul 25 2014 (HC)

Commissioner of Income-tax, Central Circle Vs. Jayesh S. Mehta

Court : Karnataka

Decided on : Jul-25-2014

..... of the orders passed in the case of the assessee for the assessment years 2003-04, 2004-05 and 2005-06 under section 143(3) of the income tax act, 1961. when the total turnover was much more than the turnover for the assessment years 1996-97, 1997-98 and 1998-99, 2% was held to ..... which assessments have been framed much after the search in the case of the assessee and therefore they declined to accept 4% adopted by the commissioner of income tax. in those circumstances, the tribunal was of the view that it would be reasonable to estimate the gross profit in the range of 2% taking the ..... profits earned by another firm m/s. srv and sons and concluded rs.2,67,58,592/- as the undisclosed income and levied tax. aggrieved by the said order, the assessee preferred an appeal to the commissioner of income tax (appeals) (hereinafter referred to as 'the first appellate authority' for short). 5. the first appellate authority held ..... n. kumar, j. 1. these two appeals are preferred by the revenue challenging the order dated 17-12-2007 passed by the income tax appellate tribunal, bangalore bench 'b' (hereinafter referred to as 'the tribunal' for short) wherein the tribunal held that it is reasonable to ..... mehta admitted in course of search that the amounts deposited in those bank accounts represented the part of sale proceeds that was not offered to tax in the returns of income filed by him and the firm m/s.shanthilal o mehta. further in the course of search itself, sri.jayesh mehta offered rs.62 .....

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