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Judgment Search Results Home > Cases Phrase: income tax act Court: madhya pradesh Year: 1985 Page 1 of about 85 results (0.057 seconds)

Feb 26 1985 (HC)

Commissioner of Income-tax Vs. K.N. Oil Industries

Court : Madhya Pradesh

Decided on : Feb-26-1985

Reported in : [1987]163ITR112(MP)

..... the negative, whether the appellate tribunal was justified in law in confirming the order of the commissioner of income-tax (appeals) quashing the order of the income-tax officer under section 154 of the income-tax act, 1961, rectifying the quantum of relief allowable under section 80j of the income-tax act, 1961, for the assessment year in question ?' 2. for the assessment year 1972-73, accounting period ending diwali ..... the facts and in the circumstances of the case, the appellate tribunal was correct in law in holding that the provisions contained in section 80j of the income-tax act, 1961, read with rule 19a of the income-tax rules, 1962, prohibiting inclusion of borrowed capital employed by the assessee while computing the capital employed in the business for the purposes of 80j relief are ..... ] 134 itr 651 took the view that sub-rule (3) of rule 19a of the income-tax rules, 1962, which requires the deduction of borrowed moneys in determining the capital employed by the assessee for the purpose of calculating the tax relief under section 80j of the income-tax act, 1961, is consistent with the intention of parliament and does not go beyond the rule-making .....

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Dec 07 1985 (HC)

Dr. (Mrs.) Bimla Gulati Vs. Appellate Assistant Commissioner of Income ...

Court : Madhya Pradesh

Decided on : Dec-07-1985

Reported in : [1987]165ITR296(MP)

..... obvious that on the above conclusion, the impugned notice was given by the appellate assistant commissioner within the scope of his authority given by section 251(1)(a) of the income-tax act, 1961. there is thus no ground to quash the same. 8. consequently, the petition is dismissed. in the circumstances of the case, there will be no order as to ..... assistant commissioner enabling him to make an enhancement in the assessee's appeal is well settled by decisions of the supreme court. while construing the corresponding provisions of the indian income-tax act, 1922, relating to the jurisdiction of the appellate assistant commissioner in such an appeal, the principle emerging from the authorities was summarised by their lordships of the supreme court in ..... to be quashed being in excess of jurisdiction of the appellate assistant commissioner. this is the only question for decision in this petition. 3. section 251(1)(a) of the income-tax act, 1961, empowers the appellate assistant commissioner in disposing of an appeal by the assessee against anorder of assessment to confirm, reduce, enhance or annul the assessment or to set aside ..... filed this writ petition for quashing the same. 2. the scope of power of the appellate assistant commissioner in disposing of an appeal under section 251(1)(a) of the income-tax act, 1961, is well-settled by authoritative decisions of the supreme court. learned counsel for the petitioner contends that, on the facts and in the circumstances of the present case, .....

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Nov 04 1985 (HC)

Commissioner of Income-tax Vs. Shree Synthetics Limited

Court : Madhya Pradesh

Decided on : Nov-04-1985

Reported in : [1986]162ITR819(MP)

..... of expenses were clearly covered by sub-clause (iv) of clause (c) of sub-section (2) of section 35d of the income-tax act, 1961, and hence the income-tax officer was not justified in disallowing the same. it was contended that the said sub-clause (iv) covered the expenses which are incurred ..... of underwriting commission, brokerage and charges for drafting, typing, printing and advertisement of prospectus are allowable as per the provisions of section 35d of the income-tax act. therefore, he upheld the disallowance of expenses to the extent of rs. 6,03,410.8. on further appeal being taken before the tribunal ..... no. (3) is concerned, learned counsel for the parties submitted that in view of the decision of the supreme court relating to section 80j of the income-tax act, 1961, in lohia machines ltd. v. union of india : [1985]152itr308(sc) this question had to be decided in favour of the department and ..... facts and in the circumstances of the case, the tribunal was right in law in holding that for the purpose of relief under section 80j of the income-tax act, 1961, borrowed capital should also be taken into account in order to arrive at the capital employed in the industrial undertaking ' 2. so far ..... to its trade clients was an allowable business expenditure and that such expenses are not hit by the provisions of section 37(2b) of the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, the tribunal was right in law in deleting the disallowance of .....

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Aug 02 1985 (HC)

Commissioner of Income-tax Vs. Shri Ram Prakash Saraf

Court : Madhya Pradesh

Decided on : Aug-02-1985

Reported in : (1986)51CTR(MP)236; [1986]160ITR860(MP)

..... that the inspecting assistant commissioner had no jurisdiction in the present case to make an order imposing penalty under section 271(1)(c) read with section 274(2) of the income-tax act, 1961.'7. in view of this answer to question no. 2 referred to us, which alone really arises for decision, there is no need to give any answer to theabove ..... were seized from his possession. in the assessment order passed by the income-tax officer on march 31, 1976, he held that the assessee concealed an income of rs. 80,697. accordingly, the income-tax officer, by the same order, initiated penalty proceedings against the assessee under section 271(1)(c) of the income-tax act. the income-tax officer, after giving an opportunity to the assessee to show cause ..... holding that the list (sic) to levy penalty under section 271(1)(c) read with section 274(2) of the income-tax act, 1961, arose on the date (i. e., march 31, 1976), of the income-tax officer's order recording satisfaction about the concealment of income before the change of law on april 1, 1976 ? 2. whether, on the facts and in the circumstances of ..... the case, the tribunal was right in law in holding that the inspecting assistant commissioner acted without jurisdiction in passing the penalty order under section 271(1)(c) read with section 274(2) of the income-tax act, 1961, and that the said order is bad in law ' 2. this reference relates to the assessment year 1975-76 .....

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Dec 09 1985 (HC)

Commissioner of Income-tax Vs. Smt. Chandradevi

Court : Madhya Pradesh

Decided on : Dec-09-1985

Reported in : [1987]163ITR548(MP)

..... 1. heard shri mukati, learned counsel for the applicant on the question of admission. 2. this is an application under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'). the material facts giving rise to this application, briefly, are as follows : penalty proceedings were initiated against the petitioner by the appellate assistant commissioner, because the assessee had failed to ..... the minors could not be clubbed with the income of the assessee while framing the assessment of her income for the assessment year 1976-77. the appellate assistant commissioner overruled this objection and further held that the assessee had rendered herself liable to pay penalty under section 271(1)(c) of the act. the appellate assistant commissioner accordingly levied penalty. on appeal by ..... include in her income the income of her two minor sons, who had been admitted to the benefits of the partnership in three firms, from which the .....

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Jun 04 1985 (HC)

Commissioner of Income-tax Vs. Bhopal Co-operative Central Bank Ltd.

Court : Madhya Pradesh

Decided on : Jun-04-1985

Reported in : [1987]164ITR713(MP)

..... . bhopal co-operative central bank ltd).2. this is a reference made by the income-tax appellate tribunal (hereinafter referred to as 'the tribunal'), at the instance of the revenue, (commissioner of income-tax) under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act '), to answer the following question :'whether, on the facts and in the circumstances of the case, the tribunal ..... per provisions of section 80p(2)(a)(i) of the income-tax act, 1961 ?'3. this reference arises out of the assessment for the years 1967-68, 1968-69, 1969-70, 1970 ..... was right in law in holding that the income derived by the assessee from interest on securities was exempt as ..... -71, 1971-72, 1972-73 and 1973-74. by these seven reference applications which are consolidated for the sake of convenience, the commissioner of income-tax, madhya pradesh-i, bhopal, approached the tribunal to .....

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Nov 04 1985 (HC)

Commissioner of Income-tax Vs. Dusad Industries

Court : Madhya Pradesh

Decided on : Nov-04-1985

Reported in : (1986)51CTR(MP)217; [1986]162ITR784(MP)

..... the instance of the department. 5. learned counsel for the applicant has submitted i. a. no. 3957 of 1985 under section 58 of the income-tax act for supplementary statement of facts on the ground that the learned income-tax appellate tribunal has not recorded essential facts on the point of object and purpose of giving subsidy to the respondent nor is any such finding ..... tribunal, indore bench, indore, at the instance of the commissioner of income-tax, bhopal, has made this reference under section 256(1) of the income-tax act, 1961, for the opinion of this court on the following question of law : ' whether, on the facts and in the circumstances of the case, the tribunal was justified in deleting ..... the additions of rs. 24,481 and rs. 66,990 made by the income-tax officer for the assessment years 1979-80 and 1980 ..... -81, respectively, being sales tax subsidy received by the assessee ' 2. the facts giving rise to this reference, as per the statement of case received may be stated .....

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Dec 10 1985 (HC)

Commissioner of Income-tax Vs. M.P. State Electricity Board

Court : Madhya Pradesh

Decided on : Dec-10-1985

Reported in : [1987]166ITR24(MP)

..... of the assessee-electricity board to the allowance of development rebate as admissibleunder section 33(1)(b)(b)(iv) read with section 34(3)(a) of the income-tax act 1961, in the computation of its loss for the assessment year 1974-75 ?' 2. the material facts are these : the relevant assessment is 1974-75. in ..... pradesh state electricity board, the assessee herein, is a company, being a licensee within the meaning of the electricity (supply) act, 1948, specified in the proviso to section 34(3)(a) of the income-tax act, 1961, and that the assessee is exempt from providing and maintaining a development rebate reserve as required under section 34(3)(a ..... ) of the income-tax act, 1961 ? (2) whether, on the facts and in the circumstances of the case, the appellate tribunal is right in law in allowing the claim ..... j.s. verma, actg. c.j.1. this is a reference under section 256(1) of the income-tax act, 1961, at the instance of the revenue for decision of the following question of law :'(1) whether, on the facts and in the circumstances ..... this plea of the assessee and disallowed the claim since it did not create any development rebate reserve as required by section 34(3) of the act.3. the commissioner of income-tax (appeals) allowed the assessee's claim in its appeal. the tribunal also upheld that view. aggrieved by this conclusion, the revenue sought a reference .....

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Aug 02 1985 (HC)

Commissioner of Income-tax Vs. Purshottam Jorabbai and Co.

Court : Madhya Pradesh

Decided on : Aug-02-1985

Reported in : [1986]160ITR153(MP); [1986]63STC181(MP)

..... the tribunal was justified in allowing the deduction of rs. 32,480 imposed as penalty under section 8(2) of the m. p. general sales tax act as a business expenditure under section 37(1) of the income-tax act, 1961 2. the contention of the assessee which was accepted by the tribunal was that the above amount of rs. 32,480 termed as penalty ..... . malwa vanaspati & chemical co. ltd : [1982]135itr221(mp) applies and it cannot be allowed as a deduction under section 37(1) of the income-tax act treating it as business expenditure.4. it is obvious that the questions referred in the present reference have to be answered on the basis of the above decisions of fact ..... an amount in excess of this difference. it was held that where the amount depicted only the difference between the tax at full rate and the tax at concessional rate, it should be allowed as a deduction under section 37(1) of the income-tax act, 1961. on the other hand, if the amount of penalty is an amount in excess of this difference, also ..... called the balance amount of sales tax (sic), then in the true sense, it is a penalty for infraction of law to which the earlier decision in .....

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Dec 09 1985 (HC)

Commissioner of Income-tax Vs. Ganga Engineering Works

Court : Madhya Pradesh

Decided on : Dec-09-1985

Reported in : (1986)52CTR(MP)297; [1987]165ITR795(MP)

..... was legally justified in directing the allowance of deduction under section 80j of the income-tax act, 1961, to the assessee in respect of the assessment year 1975-76 ?'2. the material facts giving rise to this reference are as follows : the assessee is a firm carrying ..... sohani, j.1. by this reference under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), the income-tax appellate tribunal, indore bench, has referred the following question of law to this court for its opinion :'whether, on the facts and in the circumstances of the case, the tribunal ..... tribunal that there was material on record to justify allowance of the claim under section 80j of the act, the tribunal had jurisaiction to uphold the order of the commissioner of income-tax (appeals) allowing the claim of the assessee under section 80j of the act. in cit v. gangappa cables ltd, : [1979]116itr778(ap) the andhra pradesh high court has held that if there ..... of the assessee that though no formal claim under section 80j of the act was made by the assessee at the assessment stage, necessary data was available with the income-tax officer and he could have allowed deduction under section 80j of the act. this contention was upheld by the commissioner of income-tax (appeals). aggrieved by that decision, the department preferred an appeal before the .....

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