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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1999 Page 4 of about 248 results (0.093 seconds)

Jun 29 1999 (HC)

Commissioner of Income-tax Vs. Hoechst Dyes and Chemicals P. Ltd.

Court : Mumbai

Decided on : Jun-29-1999

Reported in : [1999]240ITR1(Bom)

..... . the assessee-company manufactures pharmaceuticals. in the assessment year 1976-77, the assessee claimed depreciation at the rate of 100 per cent, under section 32(l)(ii) of the income-tax act, 1961 ('the act'), on the amount of rs. 2,42,084 spent on light fittings, fluorescent fittings, strip light fittings, frames for light fixtures, installations/wiring for lighting, installation of call bell ..... 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 and in the circumstances of the ..... /buzzers/door locks, etc., were 'plant' and allowing depreciation at the rate of 100 per cent, thereon under the first proviso to section 32(1)(ii) of the act. in our opinion, the income-tax officer was right in holding that these items did not qualify as 'plant' but were additions to fittings and allowing depreciation thereon at the rate of 10 per ..... appealed to the commissioner of income-tax (appeals), who restored the matter to the income-tax officer of each item afresh. in compliance with the directions of the commissioner of income-tax (appeals), the income-tax officer reconsidered the claim of the assessee in respect of each item of expenditure and allowed 100 per cent, depreciation under section 32(l)(ii) of the act on certain items, the aggregate .....

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Sep 09 1999 (HC)

Miss Kamla Khushaldas Teckchandani Vs. O.D. Mohindra and ors.

Court : Mumbai

Decided on : Sep-09-1999

Reported in : 1999(4)ALLMR588; (2000)160CTR(Bom)112; [1999]240ITR796(Bom)

..... supreme court in c.b. gautam's case : [1993]199itr530(sc) , stands, that judgment holding the provisions of chapter xx-c of the income-tax act, to be constitutionally valid in view of the provisions of article 141 of the constitution of india, is binding on this court and, therefore, no ..... it may be pointed out here that a writ petition was filed before the delhi high court challenging the constitutional validity of chapter xx-c of the income-tax act. that petition was transferred to the supreme court and it was decided by the supreme court. the supreme court by its judgment in c. b. ..... the balance thereof within 15 days of getting the necessary approval or no objection from the prescribed authorities appointed under chapter xx-c of the income-tax act, 1961, as referred to in clause 13 hereunder.'8. a perusal of the above clauses in the agreement shows that the total amount of ..... the date on which the appropriate authority grants no objection. in the submission of learned counsel, according to the provisions of the income-tax act, as it stood then, the appropriate authority, after application in form no. 37-i has been submitted, can make an order for compulsory purchase ..... appearing for the petitioner submits that discounting of the amount of rs. 35,316 by the order impugned is contrary to the provisions of the income-tax act. he submits that, according to the agreement between the parties, the petitioner was to get the balance amount of consideration within 15 days from .....

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Mar 08 1999 (HC)

Shree Products Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Mar-08-1999

Reported in : [1999]237ITR367(Bom)

..... took the view that the assessee-company was not entitled to investment allowance as it was engaged in the manufacture of articles mentioned in the eleventh schedule to the income-tax act, 1961 ('the act'), entries nos. 27 and 28 of the said schedule reads as follows :'27. crown corks, or other fittings of cork, rubber, polyethylene or any other material. 28. pilfer-proof ..... of the applicant's case and the law applicable to them, and in particular, on a proper interpretation of items nos. 27 and 28 of the eleventh schedule to the income-tax act, 1961, the tribunal was correct in law in rejecting the applicant's claim for investment allowance in relation to the plant and machinery used by the applicant for manufacturing its ..... two mentioned entries the rubber stoppers stood covered. being aggrieved by the order of the income-tax officer, the matter was carried in appeal before the commissioner of income-tax (appeals). however, the commissioner of income-tax (appeals) agreed with the view taken by the income-tax officer and confirmed his order. the dispute was proceeded with before the tribunal. the tribunal found that the ..... caps for packaging or other fittings of cork, rubber, polyethylene or any other material.' 3. the income-tax officer did not clearly lay down as to under which of the above .....

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Feb 04 1999 (HC)

Commissioner of Income-tax Vs. N.J. Pavri

Court : Mumbai

Decided on : Feb-04-1999

Reported in : [1999]237ITR472(Bom)

..... limits. if the above argument advanced on behalf of the revenue is accepted it would defeat the scheme of the above section 10(10) of the income-tax act. in the circumstances, it is not possible to accept the contention advanced on behalf of the revenue that the expression 'this clause' in the second ..... stood during the assessment year 1977-78.4. in order to decide the above question, it would be relevant to quote section 10(10) of the income-tax act, 1961, as originally enacted.'(10) any death-cum-retirement gratuity received under the revised pension rules of the central government or under any similar scheme of ..... 10(10)(iii). this was denied by the assessing officer vide order dated march 18, 1980. this order was passed under section 143(3) of the income-tax act. the assessee preferred an appeal against an order of the assessing officer, to the appellate assistant commissioner who vide his order dated december 10, 1980, ..... rallis india ltd., by the assessee, an amount of rs. 23,333 was not liable to be included in the total income of the assessee under section 10(10){iii) of the income-tax act, 1961, in his assessment for the assessment year 1977-78 ?'2. the assessee is an individual. he retired from air ..... has referred the following question for the opinion ofthis court in respect of the assessment year 1977-78, under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that out of gratuity of .....

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Feb 18 1999 (HC)

Banque Nationale De Paris Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Feb-18-1999

Reported in : (1999)154CTR(Bom)574; [1999]237ITR518(Bom)

..... case : [1965]56itr198(sc) , the apex court came to the conclusion that the circulars issued by the board cannot detract from the provisions of the income-tax act. in this connection, the supreme court observed at page 134 as follows :'shri salve has made heroic efforts to satisfy us that the majority view may be ..... s.h. kapadia, 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 for the opinion of this court at the instance of the assessee as ..... on sticky advances in the previous year relevant to the assessment year 1975-76 which the inspecting assistant commissioner included in the assessee's income. in appeal, the commissioner of income-tax (appeals) deleted the same following his earlier order for the assessment year 1973-74 which came to be upheld by the tribunal. that ..... affirm the view taken by the majority by this court in state bank of travancore v. cit : [1986]158itr102(sc) and hold that the interest which had accrued on the sticky advance has to be treated as income of the assessee and as such taxable. we would add that if ultimately it is ..... : [1986]158itr102(sc) that the circulars cannot override or detract from the provisions of the act inasmuch as section 119 has empowered the central board of direct taxes to issue orders, instructions or directions for the proper administration of the act. in kerala financial corporation's case : [1994]210itr129(sc) , on the above point, .....

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Jul 20 1999 (HC)

Commissioner of Income Tax, Bombay Vs. M/S. Ruia Stud and Agricultural ...

Court : Mumbai

Decided on : Jul-20-1999

Reported in : 2000(2)BomCR428; [1999]240ITR312(Bom); 1999(3)MhLj848

..... of depreciation under section 32 of the income-tax act, 1961 ("act"). the material facts are in a narrow compass. the assessee is engaged in the business of live stock breeding. for that purpose, it purchases and ..... was right in law in holding that horses used for stock-breeding constitute 'plant' so as to be eligible for depreciation under section 32 of the income-tax act, 1961?"2. this reference pertains to assessment year 1978-79. the controversy is whether the horses used for stock-breeding constitute "plant" for the purpose ..... been used for the purposes of its business constituted "plant" and, therefore, depreciation was allowable on the cost thereof under section 32 of the act. the income-tax officer rejected the claim of the assessee on the ground that the horses were held by the assessee as stock-in-trade. the assessee appealed to ..... 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 ;"whether on the facts and in the ..... rejected the appeal of the assessee. he held that horses did not constitute "plant". on further appeal, the claim of the assessee was accepted by the income-tax appellate tribunal ("tribunal"). the tribunal accepted the contention of the assessee that horses were not its stock-in-trade but fixed assets. the tribunal also held .....

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Mar 09 1999 (HC)

Union Bank of India Vs. Kokila Nitish Kotak and Others

Court : Mumbai

Decided on : Mar-09-1999

Reported in : 1999(3)ALLMR208; 1999(3)BomCR488; (1999)2BOMLR518; 1999(2)MhLj370

..... deleted. 'in respect of union bank of india' (v) the following sentences appearing in of the plaintiff as well as appropriate authority under chapter xxc of income tax act, 1961 would have been obtained. the defendant no. 2 would have definitely incorporated in the written agreement to be executed between mr. diwan rahul nanda and ..... . later on the defendants applied for deletion of the said para and contended that the plaintiff was appointed as a mercantile agent and the plaintiff acted in that capacity in placing the orders on the defendants. the trial court had rejected the application for amendment on the ground that repudiation of ..... or one judge of any division court, pursuant to section 108 of the government of india act made (on or after the 21st day of february, 1929) in the exercise of appellate jurisdiction in respect of a decree or order made in ..... 108 of the government of india act and that notwithstanding anything herein before provided an appeal shall lie to the said high court from ajudgment of one judge of the said high court ..... a sentence or order passed or made in the exercise of the power of superintendence under the provisions of section 107 of the government of india act or in the exercise of criminal jurisdictional of one judge of the said high court or one judge of any division court, pursuant to section .....

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Sep 30 1999 (HC)

Shreyas Builders and anr. and Vs. M.D. Kodnani and ors.

Court : Mumbai

Decided on : Sep-30-1999

Reported in : (2000)161CTR(Bom)527; [2000]242ITR320(Bom); 2000(2)MhLj191

..... , asking the petitioners in both these petitions to show cause as to why the property should not be purchased under chapter xx-c of the income-tax act. this show-cause notice did not disclose the material on the basis of which the appropriate authority reached the tentative conclusion that the transaction has been ..... 1993. it appears that the appropriate authority made an order dated july 31, 1992, for compulsory purchase of the property under section 269ud of the income-tax act. that order was challenged before this court by filing writ petition no. 348 of 1993 by the transferees, who are the petitioners in writ petition ..... 1. these two petitions take exception to the same order passed by the appropriate authority under chapter xx-c of the income-tax act, 1961. therefore, both these petitions can be conveniently disposed of by a common judgment.2. the facts that are material and ..... agreement of sale between the parties, the transferor and the transferee have no real opportunity to meet the case of the appropriate authority or the income-tax department concerned in that regard and hence there is non-compliance with the basic principles of natural justice. the show-cause notice issued by ..... the department for pre-emptive purchase by the central government under chapter xx-c of the act must disclose how the tentative or prima facie conclusion is arrived at by the appropriate authority that the property sought to be compulsorily purchased is .....

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Mar 22 1999 (HC)

Commissioner of Income-tax Vs. Roche Products Ltd.

Court : Mumbai

Decided on : Mar-22-1999

Reported in : [1999]240ITR506(Bom)

..... 37-c form was also filed by the parties to the said indenture. thereafter, the competent authority initiated proceedings by issue of a notice under section 269d(1) of the income-tax act, 1961 (as it then stood). this notice was issued on april 12, 1985. the reasons given for initiation of the proceedings were that the building had ground plus three upper ..... valuation as stated hereinabove and accordingly, directed acquisition of the property.3. being aggrieved by the said decision of the competent authority, the respondent-company preferred income-tax acquisition application no. 13 (bombay) of 1986 before the income-tax appellate tribunal. by judgment and order dated february 12, 1987, the tribunal allowed the appeal and set aside the order of the competent authority. the ..... of rs. 50,00,000 under the indenture dated february 9, 1984, was far in excess of the present market value arrived at on the basis of capitalisation of rental income. according to the respondents, the present market value was rs. 14.44 lakhs on the basis of the rent capitalisation method. according to the department, the correct method to ..... herein contended before the competent authority that it was a protected tenant by virtue of the amendment to the bombay rent act, 1973. that, the respondent was in exclusive possession of the property and in the circumstances capitalisation of the rental income was the only proper method of valuation and applying that method, which was the correct method, it was submitted that .....

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Oct 07 1999 (HC)

The National Leather Cloth Manufacturing Co. Vs. Indian Council of Agr ...

Court : Mumbai

Decided on : Oct-07-1999

Reported in : 1999(4)ALLMR541; 2000(2)BomCR232; (2000)1BOMLR962; [2000]241ITR482(Bom)

..... august, 1987 issued by the inspecting assistant commissioner of income-tax under section 148 of the income-tax act, 1961 ('act') for the assessment year 1983-84. the case of the petitioners is that the conditions precedent for issuance of notice under section 148 of the act are absent in this case and hence the notice ..... scientific research centre to which the petitioners had donated rs. 2,00,000/- in the previous year relevant to the assessment year under consideration, the income of the assessee to the extent of rs. 2,00,000/- had escaped assessment. in other words, according to the inspecting assistant commissioner, the ..... with retrospective effect by the prescribed authority. we have already decided identical controversy in the context of deduction under section 35-cca of the act in writ petition no. 957 of 1990. law is now well-settled that the assessee is entitled to rely upon the certificate granted by ..... by notification dated 2nd january, 1986 with retrospective effect from 17th january, 1980. the petitioners claimed deduction under section 35(1)(ii) of the act in respect of the above donation on the basis of the notification of the prescribed authority approving the said institution for the purposes of clause ( ..... have no effect upon the assessee who has acted upon it when it was valid and operative.4. in view of the above, it is clear that there is no escapement of income from tax in this case. the impugned notice under section 148 of the act is, therefore, quashed and set aside. .....

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