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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1999 Page 6 of about 248 results (0.031 seconds)

Jul 26 1999 (HC)

Commissioner of Income-tax Vs. Melauto Industries P. Ltd.

Court : Mumbai

Decided on : Jul-26-1999

Reported in : [1999]240ITR74(Bom)

..... view that it was not a fit case for remitting the matter to the authorities below for being processed under section 40(c) of the income-tax act. the income-tax appellate tribunal held that there is prima facie evidence to show that the commission paid is not excessive or unreasonable having regard to the business ..... the salary and allowances paid to pradeep h. shah, working director of the assessee for the purposes of disallowance under section 40a(5) of the income-tax act. the tribunal further observed that it would have been necessary for the tribunal to see whether the amount paid by the assessee as commission can reasonably ..... it had also paid commission of rs. 1,24,969 to parekh and co. the income-tax officer applied section 40a(5) of the income-tax act for finding out the allowable salary. following the earlier orders of the income-tax appellate tribunal in the case of the assessee for the years 1975-76 to 1977-78, ..... legitimate business needs of the assessee. since the dispute in regard to the scope and ambit of section 40(c) of the income-tax act is put to rest by the above decision of the supreme court which is followed by this court in pai paper and allied industries p. ..... in appeal the commissioner of income-tax (appeals) held that the amount paid to parekh and co., is not covered by section 40a(5) of the income-tax act.5. the matter was carried to the income-tax appellate tribunal. the income-tax appellate tribunal held that the amount paid as commission to parekh .....

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Aug 17 1999 (HC)

Commissioner of Income-tax Vs. Datta V. Gaitonde

Court : Mumbai

Decided on : Aug-17-1999

Reported in : [2000]241ITR241(Bom)

..... effect from april 1, 1963. section 5a provides that income from all sources, except from salary should be apportioned equally between the husband and the wife and such ..... the present matter, the statement of the case is not clear as to whether the income in this case is income from profession orincome from salary, the matter is remitted to the tribunal to decide afresh in accordance with the provisions contained in section 5a of the income-tax act, 1961.3. the reference is disposed of accordingly with no order as to costs, ..... 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 income-tax appellate tribunal was right in law in holding that even income from profession or salary earned on employment is ..... 's case confirmed the decision of the commissioner of income-tax (appeals). it is against this background that the present reference is made to this court.2. we have heard learned counsel for the parties. the controversy in this case now stands concluded by the amendment of the income-tax act, 1961, by the finance act, 1994, by insertion of section 5a with retrospective .....

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Jul 14 1999 (HC)

Commissioner of Income-tax Vs. Gopaldas H. Hansrajani

Court : Mumbai

Decided on : Jul-14-1999

Reported in : [1999]239ITR523(Bom)

..... parle for rs. 7.15 lakhs. the controversy arose whether the assessees are entitled to claim exemption in respect of the capital gains under section 54 of the income-tax act, 1961 ('the act'). the income-tax officer rejected the claim of the assessee on the ground that the flat in question was not occupied by the assessees as owners for a period of two years ..... opinion at the instance of the revenue :'whether, on the facts and in the circumstances of the case, the asses-sees are entitled to exemption under section 54 of the income-tax act for the assessment year 1982-83 ?'2. the material facts giving rise to this reference are as follows :the assessees, who are husband and wife, used to reside in flat ..... , which according to him, was a condition precedent for exemption under section 54 of the act. the assessees appealed to the commissioner of income-tax (appeals). the appeal of the assessees was rejected by the commissioner (appeals). however, in further appeal to the income-tax appellate tribunal ('the tribunal'), the tribunal accepted the contention of the assessees. hence, this reference at the ..... . 70,000 on the ground that he had been occupying the same for a period of two years prior to its sale. the income-tax officer did not accept the claim of the assessee for exemption. the order of the income-tax officer was upheld by the tribunal. on a reference of the assessee, this court held that it was obvious that the property .....

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Apr 05 1999 (HC)

Commissioner of Income-tax Vs. Sigma Paints Ltd.

Court : Mumbai

Decided on : Apr-05-1999

Reported in : [1999]238ITR705(Bom)

..... this reference are as under :the assessee is a limited company. in the draft assessment order, which was forwarded by the income-tax officer to the inspecting assistant commissioner under sub-section (4) of section 144b of the income-tax act, 1961 ('the act'), the income-tax officer had proposed disallowance of the claim of deduction of rs. 1,36,639 on account of commission to persons whose ..... allowed in the assessment order in consequence of the direction of the inspecting assistant commissioner under section 144b it was not open to the commissioner of income-tax to exercise his jurisdiction under section 263 of the income-tax act, 1961, in respect of that part of the assessment order ?'2. this reference pertains to the assessment year 1978-79. the material facts giving rise ..... names were not disclosed. the inspecting assistant commissioner, after considering the order and the objections of the assessee, directed the income-tax officer to allow the above claim for deduction ..... 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 .....

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Jan 12 1999 (HC)

Saswad Mali Sugar Factory Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Jan-12-1999

Reported in : (1999)153CTR(Bom)338; [1999]236ITR706(Bom)

..... films in the said theatre, the interest paid on the loans obtained for constructing it were allowed by the revenue as deduction under section 36(l)(iii) of the income-tax act, 1961. the income-tax officer declined to grant deduction on the ground that the business of exhibition of films was no longer in existence. the assistant appellate commissioner allowed the deduction. the tribunal ..... thereafter, the activity of exhibition of films stood discontinued. accordingly, the tribunal upheld the decision of the appellate assistant commissioner and permitted deduction under section 36(1)(iii) of the income-tax act. on a reference, the high court came to the conclusion that since the closing of the cinema business had not affected in the least, the assessee's business in jewellery ..... -company out of the total amount of rs, 56,729 on account of travelling expenses. accordingly, the matter has come by way of reference under section 256(1) of the income-tax act before this court.3. the main issue which arises before us for consideration in the present matter is : whether the assessee-company was exploiting the assets as commercial assets or ..... . at the instance of the revenue, the tribunal referred the following questions for the opinion of this court for the assessment year 1973-74 under section 256(1) of the income-tax act, 1961.'1, whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the lease rent received by the asses-see-company was .....

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Aug 11 1999 (HC)

Oil and Natural Gas Commission Vs. Mcdermott International Inc.

Court : Mumbai

Decided on : Aug-11-1999

Reported in : 2000(1)BomCR369

..... herein belonged to the respondentand it was held by the petitioner as a depositee, the finding of the umpire that the amount was paid under section 226(3) of the income tax act shows that the amount lying as credited in favour of the respondent was the respondent's money and this can be only on the basis that it belonged to the ..... . dada, the learned counsel for the petitioners had also submitted that the petitioners' as a representative assessee and as a recipient of a notice under section 276(3) of the income tax act, were bound to make payment of rs. 31,26,684 which was computed on the basis of exchange rate as in 1987. mr. dada further submitted that the petitioners cannot ..... from a manifest error apparent ex-facie as far as claim no. 9 is concerned. it is the finding of the umpire that the income tax department treated the petitioner as representative assessee under section 162 of the income tax act for the assessment year 1986-87 and the deduction was legal and not uncalled for. thus the assessment against the petitioner was in its ..... by it of surtax and informed that the amount was required to be paid pursuant to the notice under section 26(3) of the income tax act. it is thus clear that the money retained in rupees in 1987 towards tax liability of the respondent was credited in the account of the respondent in the books of accounts of the petitioner in rupees. in .....

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Mar 10 1999 (HC)

Colour Chem Limited Vs. Commissioner of Income Tax, Bombay City Ii, Bo ...

Court : Mumbai

Decided on : Mar-10-1999

Reported in : 2000(2)BomCR215; [1999]238ITR171(Bom); 1999(3)MhLj980

..... rs. 26,50,507/- to the assessee by treating the chemicals manufactured by the assessee as heavy chemicals as listed in ninth schedule to the income-tax act, 1961?'6. during the relevant accounting year, the assessee acquired and installed machinery at the cost of rs. 1,06,02,027/- for manufacture ..... representing medical reimbursement given to employees which was not treated as perquisite in computing disallowance under section 40-a(5) of the income-tax act, 1961 should be treated as part of salary for computation of disallowance under said provision?'3. whether on the facts and in the circumstances ..... in the ordinary course of their employment should not be excluded from the total salary while computing disallowance under section 40-a(5) 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 holding that the amount ..... orders.h. kapadia, j.1. by this reference under section 256(1) of the income tax act, 1961, at the instance of the assessee, the income tax appellate tribunal has referred the following questions of law to this court for opinion.'1. whether on the facts ..... particular element like 'heavy water' which consists of a heavy isotope of hydrogen. this reasoning of the assessing officer was accepted by the commissioner of income tax (appeals). however, the tribunal relied upon the dictionary meaning given to word 'heavy chemical'. in condensed chemical dictionary, ixth edition, published by van .....

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Jul 20 1999 (HC)

Commissioner of Income Tax, Bombay Vs. M/S. Borosil Glass Works Ltd.

Court : Mumbai

Decided on : Jul-20-1999

Reported in : 2000(3)BomCR131; [1999]240ITR288(Bom); 1999(3)MhLj522

..... ordermrs. ranjana desai, j.1. by this reference under section 256(1) of the income-tax act, 1961 read with section 18 of the companies (profits) surtax act, 1964, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of revenue;'whether, on the facts and in the circumstances of the case ..... therefore, those amounts should not be deducted in the computation of the capital of the assessee-company for the purpose of surtax. on appeal, the order of income-tax officer was confirmed by the commissioner of income-tax (appeals) and the tribunal. thereafter, at the instance of the assessee, a reference was made to this court on the question whether tribunal was right in ..... matter before the commissioner of income-tax (appeals). the commissioner of income-tax (appeals)allowed the appeal and directed the income-tax officer to re-compute the capital on the lines of the decision of the bombay high court ..... rule 1 of the second schedule to the companies (profits) surtax act, 1964. for the assessment year 1977-78 similar claim was made in respect of the sum of rs. 9,01,411/- representing provision for doubtful debts and for the sum rs. 60,164/- representing doubtful advances. the income-tax officer disallowed the claim of the assessee. the assessee carried the .....

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Feb 24 1999 (HC)

Madhavrao J. ScIndia Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Feb-24-1999

Reported in : [2000]243ITR683(Bom)

..... duties as director in office at bombay. in the circumstances, the tribunal was right in rejecting the assessee's claim for exemption in terms of section 10(14) of the income-tax act, 1961. accordingly, question no. 2 is answered in the affirmative, i.e., in favour of the revenue and against the assessee.4. reference stands disposed of accordingly with no order ..... , the tribunal was correct in holding that the travel allowance received by the applicant from scindia investments pvt. ltd., was not exempt in terms of section 10(14) of the income-tax act, 1961 ?' 2. as far as question no. 1 is concerned, both learned counsel for the parties state that the controversy involved in this question is squarely covered by the decision ..... .h. kapadia, j. 1. at the instance of the assessee, the following two questions of law have been referred to this court for opinion under section 256(1) of the income-tax act, 1961, in respect of the assessment year 1973-74 :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the gross .....

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Mar 06 1999 (HC)

Commissioner of Income-tax Vs. Taraporvala Sons Co. Pvt. Ltd.

Court : Mumbai

Decided on : Mar-06-1999

Reported in : [1999]239ITR319(Bom)

..... commission was an expenditure laid out or expended wholly and exclusively for the purpose of its business within the meaning of section 37(1) of the income-tax act, 1961, read with the explanation appended thereto. however, having regard to the fact that the tribunal could not have examined at the time it passed ..... on the facts and in the circumstances of the case, the secret commission paid by the assessee is deductible as business expenditure under section 37 of the income-tax act, 1961 ?'2. this reference pertains to the assessment years 1979-80 and 1980-81. in the above assessment years, the assessee-company claimed to have ..... law. mr. desai submits that as the explanation was inserted by the finance (no. 2) act, 1998, with retrospective effect from the date of coming into force of the income-tax act, 1961, i.e., april 1, 1962, the income-tax authorities, including the tribunal, had no occasion to examine the claim of the assessee for deduction ..... 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 for the opinion of this court at the instance of the revenue :' ..... of the secret commission claimed to have been paid by the assessee has beenallowed by the commissioner of income-tax (appeals) as a deduction in the computation of the income of the assessee under section 37(1) of the act. this decision of the commissioner (appeals) has been upheld by the tribunal. mr. mistry, learned .....

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