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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1999 Page 3 of about 248 results (0.041 seconds)

Apr 06 1999 (HC)

Commissioner of Income-tax Vs. I.A. and I.C. Pvt. Ltd.

Court : Mumbai

Decided on : Apr-06-1999

Reported in : [1999]239ITR1(Bom)

..... provision of remuneration and perquisite to the employee-director of the company is to be computed under the provisions of section 40(c) and not section 40a(5) of the income-tax act, 1961 ?' this reference pertains to the assessment year 1980-81.2. so far as the controversy in question no. 2 is concerned, learned counsel for the parties are agreed that ..... for higher investment allowance even though the mandatory condition that the required certificate from the prescribed authority should be furnished along with the return of income, as laid down in section 32a(2b)(ii) of the income-tax act, 1961, had not been fulfilled ? 2. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding ..... b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal, has referred the following questions of law to this court for opinion at the instance of the revenue :'1. whether, on the facts and in the circumstances of ..... for issuance of the necessary certificate. later, on receipt of the certificate, the assessee furnished the same to the income-tax officer in the course of assessment proceedings. the income-tax officer, however, held that since clause (ii) of section 32a(2b) of the act required the assessee to furnish the certificate along with the return, the requirement of that clause was not fulfilled and .....

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Jun 15 1999 (HC)

Commissioner of Income-tax Vs. Sharda Sugar Industries Ltd.

Court : Mumbai

Decided on : Jun-15-1999

Reported in : (1999)157CTR(Bom)151; [1999]239ITR393(Bom)

..... b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, at the instance of the revenue, the income-tax appellate tribunal has referred the following question of law to this court for opinion :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal has rightly held that the amounts of rs. 6,36,683 ..... and assessed the same in the hands of the assessee in the assessments for those years. the assessee appealed to the commissioner of income-tax (appeals) against the above orders. the commissioner of income-tax (appeals), following the decision of the income-tax appellate tribunal ('the tribunal') in the case of hindustan sugar mills ltd. for the assessment year 1973-74 wherein the tribunal had held ..... that such amount was not income of the assessee, deleted the additions made by the income-tax officer. the appeals of the revenue against the above order were dismissed by the tribunal. hence, this reference.3. we have heard ms. vasanti patel ..... with the fund and the amount in question continued to remain with the assessee. in the assessment of the assessee for the assessment years 1975-76 and 1976-77, the income-tax officer treated the amount of excess collection made by the assessee during the previous years relevant to the above assessment years as .....

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Mar 20 1999 (HC)

Commissioner of Income-tax Vs. Shetkari Sahakari Sakhar Karkhana Ltd.

Court : Mumbai

Decided on : Mar-20-1999

Reported in : [1999]238ITR983(Bom); 2000(4)MhLj65

..... exemption under section 80p(2)(a)(iv) of the income-tax act, 1961, in respect of the income of rs. 5,51,651 from the lift irrigation scheme ?'2. the assessee is a co-operative society engaged ..... a profit of rs. 5,51,651 from the activity of providing water to its members through the lift irrigation scheme. the assessee claimed deduction in respect of the above income under section 80p(2)(a)(iv) of the income-tax act, 1961 ('the act'). the case of the assessee was that it had purchased water from the state government on payment of water ..... price of the same. he submits that the case of the assessee is squarely covered by the provisions of section 80p(2)(a)(iv) of the act and hence the income in question is exempt from income-tax under the said provision.4. we have carefully considered the rival submissions in the light of the uncontroverted facts of the case. the assessee is a ..... this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of the revenue :'whether, on the facts and in the circumstances of the case, the tribunal is justified in upholding the decision of the commissioner of income-tax (appeals) that the assessee was entitled to .....

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Mar 09 1999 (HC)

Commissioner of Income-tax Vs. Mercantile Bank Ltd. (Through Successor ...

Court : Mumbai

Decided on : Mar-09-1999

Reported in : (1999)155CTR(Bom)59; [1999]237ITR676(Bom)

..... contentions, we are required to examine the relevant sections of the income-tax act. section 40a(5) was introduced in the income-tax act, 1961, by section 10 of the finance (no. 2) act, 1971, with a view to impose a ceiling on business expenses. this is clear from the non obstante ..... further urged on behalf of the department that on a bare reading of section 40a(5)(a)(i) read with section 40a(5)(c)(i) of the income-tax act, the legislative intent was clear, viz., that the aggregate amount of deduction should not exceed rupees sixty thousand.10. in the light of the rival ..... has been referred to this court for opinion.8. learned counsel for the assessee in the present case drew our attention to the relevant provisions of the income-tax act, 1961, as it stood at the material time, the material parts thereof are quoted hereinafter :'17. for the purposes of sections 15 and 16 and of ..... which arises for consideration is :'whether, the amount in excess of rs. 60,000 was liable to be disallowed under section 40a(5)(c) of the income-tax act, as it stood during the relevant assessment year 1978-79 ?'7. it was urged on behalf of the assessee that section 40a(5) provides for deduction ..... has referred the following questions for the opinion of this court for the assessment year 1978-79 under section 256(1) of the income-tax act, 1961 :'(i) whether, on the facts and in the circumstances of the case, the tribunal is justified in holding that the assessee is not liable .....

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Jul 14 1999 (HC)

Commissioner of Income Tax, Bombay Vs. M/S. Savailal Maneklal

Court : Mumbai

Decided on : Jul-14-1999

Reported in : 2000(2)BomCR426; (2000)2BOMLR861; [1999]239ITR636(Bom); 1999(3)MhLj782

..... as partner of the firm representing his h.u.f., is not payment made to partner of the firm and consequently cannot be disallowed under section 40(b) of the income-tax act, 1961?'2. the facts, which are material for the purpose of this reference are as under :in the assessee firm, there are two partners namely, h.u.fs. of narottamdas ..... amount was credited in the individual account of shri deepak shah. the assessee claimed before the income-tax officer that provisions of section 40(b) of the income-tax act, 1961 ('act') are not applicable and, therefore, the claim regarding payment of interest and commission should be allowed.3. the income-tax officer did not accept the claim of the assessee. he observed that the interest or commission ..... orderranjana desai, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of the revenue :'whether on the facts and in the circumstances of the ..... paid to a partner, in any capacity is to be disallowed under section 40(b) to the act. the prohibition contained in .....

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Dec 01 1999 (HC)

Motilal Kishangopal Thanvi Vs. Union of India and Others

Court : Mumbai

Decided on : Dec-01-1999

Reported in : 2000(2)BomCR869; (2000)1BOMLR592; 2000(3)MhLj483

..... income-tax act in the sense that they are statutory in nature. therefore, there is no provision in the income-tax act or the rules framed thereunder which entitles the plaintiff to 10% of the amount. therefore, issue no. 1 is answered accordingly. so ..... finding recorded on issue no. 4 above, these issues really do not survive for consideration.6. issue no. 1 is whether the plaintiff proves that he is entitled under the income-tax act to receive 10% of amount collected on account of the information furnished by him. it is obvious that the guidelines have not been framed under the ..... information as required by the guidelines which can be said to have resulted in recovery of the income-tax. on the basis of the rival pleadings, this court framed following issues, which read as follows:'1. whether the plaintiff proves that he is entitled under the income-tax act to receive 10% of amount collected on account of the information furnished by him?2. whether ..... the plaintiff proves that he is entitled to recover rs. 14,25,000/-from the income-tax department?3. whether the plaintiff having received rs. 75,000/- as per the final .....

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Aug 02 1999 (HC)

Commissioner of Income Tax, Bombay Vs. M/S. Indian Plastics Ltd., Bomb ...

Court : Mumbai

Decided on : Aug-02-1999

Reported in : 2000(3)BomCR394; [1999]240ITR528(Bom); 1999(3)MhLj572

..... assessee was in the nature of entertainment expenditure and, as such, had to be processed under the provisions of section 37(2-a) of the income-tax act, 1961 ('act'). the income-tax officer accordingly allowed a deduction of rs. 5,000/ - only against the assessee's claim of rs. 59,305/-. the assessee appealed to the commissioner ..... orderdr. b.p. saraf, j.1. by this reference under section 256(1) of the income tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of the revenue.:'whether on the facts ..... to allow the claim of the assessee for deduction of the balance amount of rs. 54,305/- under section 37(1) of the act. the above order was confirmed by the income-tax appellate tribunal ('tribunal'). hence this reference at the instance of the revenue.3. we have heard mr. r.v. desai, learned counsel for the revenue ..... to section 37(2-a) by insertion of the explanation set out above, the action of the income-tax office is correct. deduction cannot be allowed in respect of such expenses now under section 37(1) of the act as has been done by the tribunal.8. in the premises, it is clear that the tribunal ..... thereof has to be decided in the light of the restrictions contained therein.6. in the present case, the income-tax officer had computed the deduction by applying the provisions of section 37(2-a) of the act and allowed deduction for a sum of rs. 5,000/- only and rejected claim for deduction of the balance .....

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Jun 15 1999 (HC)

Commissioner of Income Tax, Bombay Vs. Dr. Beck and Co. (ind.) Ltd.

Court : Mumbai

Decided on : Jun-15-1999

Reported in : 2000(3)BomCR401; (2000)1BOMLR162; [1999]239ITR561(Bom); 1999(3)MhLj587

..... revenue :'1. whether, on the facts and in the circumstances of the case and having regard to the interpretation of section 36(1)(iv) of the income-tax act, 1961, and rules 87 and 88 of the income-tax rules, 1962, the tribunal was right in law in holding that the assessee was entitled to a deduction of the entire initial contribution to the superannuation ..... orderdr. b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following questions of law to this court for opinion at the instance of revenue as well as at the instance of assesses :at the instance ..... august 1981 that certain activities were prescribed for the purposes of sub-clause (ix) of clause (b) of sub-section (1) of section 35b of the act by insertion of rule 6-aa by the income-tax (eighth amendment) rules, 1981 as activities for the promotion of sale outside india of the goods, services or facilities expenditure which would qualify for weighted deduction ..... the above rule, the assessee is entitled to weighted deduction under section 35b of the act on the expenditure incurred on export inspection charges.7. mr. jetly, learned counsel for the revenue, on the other hand, submits that the above rule having been inserted by the income-tax (eight amendment) rules, 1981 with effect from 1st august, 1981, has not application to the .....

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Oct 04 1999 (HC)

Jagdish Electronics (India) Pvt. Ltd. and anr. Vs. Appropriate Authori ...

Court : Mumbai

Decided on : Oct-04-1999

Reported in : (2000)161CTR(Bom)533; [2000]242ITR326(Bom)

..... transaction has been undervalued by the parties. it does not disclose any reason why the appropriate authority proposes to purchase the property under the provisions of chapter xxc of the income-tax act. it does not disclose the material on the basis of which the appropriate authority has reached the tentative conclusion that the property is liable to be purchased under the ..... owners of the two flats asking them to show cause why both the flats should not be purchased under the provisions of chapter xxc of the income-tax act. the petitioner submitted replies to the show-cause notices. the appropriate authority passed order dated april 28, 1994, for compulsory purchase of both the flats. these orders are challenged ..... petitions. the petitioner entered into an agreement to purchase both these flats with their respective owners on january 28, 1994. as required by the provisions of chapter xxc of the income-tax act, application in form no. 37-1 was submitted to the appropriate authority. the appropriate authority on march 31, 1994, issued show-cause notices to the petitioner as also the ..... k. deshmukh, j. 1. by these two petitions, the same petitioner, namely, jagdish electronics pvt. ltd., challenges two orders passed by the appropriate authority under chapter xxc of the income-tax act, 1961, for compulsory purchasing of flats nos. 13 and 14 in the building known as 'belmont co-operative housing society'. as the ground for challenging both the orders is identical .....

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Jan 28 1999 (HC)

Commissioner of Income-tax Vs. Estienne Andre,

Court : Mumbai

Decided on : Jan-28-1999

Reported in : [2000]242ITR422(Bom)

..... 1. these are applications of the revenue under section 256(2) of the income-tax act, 1961 ('the act'). the facts and circumstances and the proposed question are identical in all these applications. in fact, the income-tax appellate tribunal has disposed of all the applications under section 256(1) by a common order. we have, therefore, taken up these applications for hearing together. the question of ..... any country outside india under sub-section (1) for granting relief of tax, or, as the case may be, avoidance of double taxation, then, in relation to the ..... contracting states by an individual who is a resident of the other contracting state may be taxed only in the contracting state in which such services are rendered.' 3. reference was also made by learned counsel to sub-section (2) of section 90 of the income-tax act which provides that where the central government has entered into an agreement with the government of ..... mr, vyas submitted that the proposed question is wrongly framed as it gives an impression that the services were rendered in india, whereas, there is a categorical finding of the income-tax appellate tribunal ('the tribunal'), to the effect that the services were rendered in france. our attention was drawn by mr. vyas to article xiv(1) of the double taxation avoidance .....

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