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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1999 Page 8 of about 248 results (0.034 seconds)

Jan 25 1999 (HC)

Commissioner of Income-tax Vs. Cement Allocation and Co-ordinating Org ...

Court : Mumbai

Decided on : Jan-25-1999

Reported in : [1999]236ITR553(Bom); [1999]103TAXMAN403(Bom)

..... to have retention prices and, in the circumstances, the transactions between the assessee organisation on the one hand and the members on the other hand show that the income chargeable to tax under the income-tax act, had accrued to the assessed -organisation. in the circumstances, he contended that the principle of mutuality did not apply to the present case.in the present matter, the ..... well as the appellate assistant commissioner have given a finding that the objects of the organization do not constitute charitable purposes within the meaning of section 2(15) of the income-tax act. against the said order of the appellate assistant commissioner, the assessee did not carry the matter in appeal to the tribunal. in the circumstances, we are not required to go ..... of the department, the tribunal referred the following questions, for the opinion of this court for the assessment years 1967-68 and 1968-69 under section 256(1) of the income-tax act, 1961.'1. whether, the assessed -organisation derived profits and gains of business of rs. 94,77,142 for the assessment year 1967-68 and rs. 8,75,000 for the ..... assessment year 1968-69 chargeable to tax under section 28 of the income-tax act, 1961 ?2. whether the principle of mutuality, as enunciated in styles' case was satisfied in the assessee's transactions with its members and the savings were not .....

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Nov 19 1999 (HC)

R. B. Singh Vs. Assistant Commissioner of Income Tax

Court : Mumbai

Decided on : Nov-19-1999

Reported in : [2001]75ITD250(Mum)

..... not comply with this notice. under the circumstances, i have no alternative but to pass an ex parte assessment order under section 144 of the income tax act estimating the income to the best of my . judgments with the materials available on record. the assessee has not produced the details of rent, salary, wages, loans ..... with the observation-'as it is a time barring case, i have no alternative but to resort to the provisions of section 144 of the income tax act as there is no time to fix the case again'. we agree that this is not the same as stating that the assessee had refused ..... no penalty could have been levied under section 271(1)(c) as the assessments for all these years had been made under section 144 of the income tax act, more or less on estimate basis. shri phadkar submitted that for the assessment year 1975-76 the assessment was originally completed on 7-3-1979 ..... officer that as the assessee was entitled to the benefits under the amnesty scheme, he was not liable for penalty under the various sections of the income tax act. the assessing officer did not accept the above contention. he had already initiated penalty proceedings under section 271(1)(c) as could be seen from ..... machinery sales and service, bombay against the common order passed by the commissioner (appeals) confirming the levy of penalty under section 271(1)(c) of the income tax act for the assessment years 1975-76, 1976-77, 1977-78, 1978-79 and 1980-81.2. the assessee is carrying on business in the purchase and .....

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Feb 04 1999 (HC)

Commissioner of Income Tax Vs. Shri Arvind H. Dalal

Court : Mumbai

Decided on : Feb-04-1999

Reported in : (1999)154CTR(Bom)520

..... the huf of the settlor, being the assessee, his wife, son and daughter, was not affected by the provisions of section 64(1)(vii) of the income tax act 196l?'2. the assessee is an individual. by a deed of settlement dated 24-3-1978, the assessee settled certain shares and cash totally valued at about ..... these references are disposed of by this common order. the question of law referred to this court under section 256(1) of the income tax act, 1961 is as under:'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the ..... and such transfer is not affected by the provisions of section 64(xvii) of the act. in the circumstances, on the application of the commissioner of income tax, the tribunal referred the above question of law under section 256(1) of the act to this court. as stated hereinabove, the facts of the above two references are identical ..... is spouse (that is the wife of the assessee in the present case). in the circumstances, it was contended that the settlor has rightly been taxed in respect of the income arising under the trust-deed. he, accordingly, submitted that section 64(1)(vii) was applicable to that present case.5. in the present matter, ..... the property by the assessee to his huf without consideration through the media of a trust. the assessing officer applied section 64(2) of the act and clubbed the income arising to the huf as a result of the property settled on the trust in the hand of the assessee. on appeal by the assessee .....

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Feb 10 1999 (HC)

Commissioner of Income Tax Vs. the Trustees of the Trust for Relative ...

Court : Mumbai

Decided on : Feb-10-1999

Reported in : (1999)154CTR(Bom)556

..... in not a discretionary trust and consequently the provisions of section164(1) of the income tax act, 1961, are not applicable?'2. the assessee claimed before the income tax officer that section 164(1) of the income tax act, 1961(hereinafter referred to as 'the act') was not applicable in case of the assessee-trust. the income tax officer did not agree with the claim of the assessee. being aggrieved, the ..... tribunal has referred the following question of law for the opinion of this court for assessment year 1978-79 under section 256(1) of the income tax act, 1961:'whether, on the facts and in the circumstances of the case, and having regard to the term of the trust deed dated 9-5-1973 the tribunal was right ..... who are known and whose shares were specified. under the above circumstances, the commissioner (appeals) allowed the claim of the assessee. being aggrieved, the department came in appeal before the income tax appellate tribunal (hereinafter referred to as 'the tribunal'). before the tribunal, the learned representative of the assessee relied upon the order of the tribunal in i.t.a. no. 3103 ..... the trust for the assessment year 1978-79 has been distributed to three beneficiaries. the beneficiaries have included their shares of income in their individual returns and have paid taxes thereon. following the order of the tribunal in the case of this very assessee for the earlier assessment year 1977-78 the order of the commissioner (appeals) was confirmed by .....

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Mar 26 1999 (HC)

Shri Vassudev Nene and Others Vs. Shri Dattatraya Raghunath Jog

Court : Mumbai

Decided on : Mar-26-1999

Reported in : 2000(3)ALLMR193; 1999(3)BomCR684

..... it would amount to an abuse of the process of the court. reference may be made to decision in the king v. the general commissioners for the purpose of the income tax acts for the district of kengsington, 1917(1) kings's bench division 486 where the court refused a writ of prohibition without going into the merits because of suppression of material ..... person in lawful possession. it is not mandatory that for mere asking such relief should be given. injunction is a personal right under section 41(j) of the specific relief act, 1963; the plaintiff must have personal interest in the matter. the interest of right not shown to be in existence, cannot be protected by injunction'13. shri r.v. kamat ..... law. in ram rattan's case, the apex court has held that a true owner has every right to dispossess or throw out a trespasser while he is in the act or process of trespassing, but this right is not available to the true owner if the trespasser has been successful in accomplishing his possession to the knowledge of the true .....

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Dec 03 1999 (TRI)

Surendra M. Khandhar Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Dec-03-1999

..... even assuming that the statement dated 20-12-1991 cannot be regarded as a statement recorded under section 132(4) of the income-tax act or under other provisions of the income-tax act, it still cannot be regarded as an invalid statement without any evidentiary value. it is claimed that even if the seizure ..... officer was entitled to take his deposition under section 132(4) so in terms of the said section utilise it in any proceedings under the income-tax act, which includes proceedings against the deponent himself, i.e., the assessee. we may also mention that the question is not whether there are any ..... the evidentiary value of the statement cannot be detracted by such an error, specially in view of the provisions of section 292b of the income-tax act. the power exercised by a competent authority cannot be regarded as illegal simply because a wrong section is mentioned if the said authority has jurisdiction ..... of a typographical error, does not invalidate the statement, and in this context, reliance is placed upon the provisions of section 292b of the income-tax act. it is also mentioned that the contention of the learned counsel for the assessee that the said statement dated 20-12-1991 was given in ..... it was for the assessee to prove that the contents of seized paper were not authentic as per the provisions of section 132(4a) of the income-tax act; (iii) ignoring the facts that the assessee neither proved the authenticity of the seized paper nor the address etc. of the parties involved in .....

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Mar 09 1999 (HC)

Rafique Abul Hamid Kokani Alias Mohd. Rafique Abdul Hamid Vs. Deputy C ...

Court : Mumbai

Decided on : Mar-09-1999

Reported in : (2000)67TTJ(Mumbai)49

..... he framed the impugned order. the only objection is that the commissioner had not given a similar opportunity of being heard before granting his approval under section 158bg of the income tax act. in the view we have taken of the role of the commissioner under section 15813g, we are of the view that there is no mandatory requirement under this section ..... decisions of the apex court and the rajasthan high court are distinguishable inasmuch as in the present case the grant of approval under the provisions of section 158bg of the income tax act by the commissioner is entirely an administrative procedure which is intended for the safeguard of the assessee so that excessive or arbitrary additions are not made by the assessing ..... be set aside because the commissioner did not grant an opportunity of being heard to the appellant before he granted approval to the assessment order under section 158bg of the income tax act. it is pleaded that the principles of natural justice would apply unless the statutory provisions point to the contrary. in this context, reliance is placed upon the following decisions ..... the additional grounds read as follows :'1. without prejudice to the other grounds of appeal, the appellants submit that impugned order of block assessment passed under section 158bc of the income tax act, 1961 is void and illegal as no opportunity of hearing has been granted to the appellants by the commissioner before approving the order of assessment made by the assistant commissioner .....

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May 12 1999 (TRI)

Concept Pharmaceuticals (P.) Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : May-12-1999

Reported in : (2000)73ITD174(Mum.)

..... 1) [1993] 201 itr 567/69 taxman 575. the bombay high court in that case thoroughly examined the scope of section 40a(5)(a) and (c) of the income-tax act. speaking about the limits prescribed in sub-clauses (i) and (ii) of clause (a), their lordships held that these limits apply to payments made to all persons covered ..... to be in manuscript and the photocopies of those manuscript statements, were filed as apart of the paper book. further the statement recorded under section 131 of the income-tax act from shri r. s. krishnan on 29-5-1986 is furnished at pages 30 to 35 of the paper book. shri r. s. krishnan was the ..... and it should have been treated as such. as can be seen from page no. 6 of the paper book, total income disclosed under the amnesty return was rs. 11,18,531 on which income-tax and surcharge payable was rs. 7,04,675. the whole of it is recorded to have been paid as under : 15 ..... , had already found materials to show that there had been concealment, that would mean that the department had detected the concealment. if the income-tax officer had only prima facie belief that would not mean that the concealment had been detected." therefore, an assessee whose premises had been searched ..... worked out to rs. 4,00,625. the figure given by the company also tallied with this method of working in this case. it is assessed to tax as income from other sources.4. following arguments were addressed by shri s. e. dastur, learned advocate for the company. it is difficult to prove that raw material .....

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Nov 21 1999 (TRI)

Deputy Commissioner of Vs. Paramount Hotels Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Nov-21-1999

Reported in : (2001)76ITD25(Mum.)

..... the plantations. that, therefore, the interest paid by the respondent was allowable as a deduction under section 5(e) of the madras plantations agricultural income-tax act, 1955. in principle there is no distinction between interest paid on capital borrowed for the acquisition of a plantation and interest paid on capital borrowed ..... part of block of assets, even though the assessing officer had correctly disallowed the amount of account of capital expenditure" the assessee had declared hotel income at rs. 2.02 crores in this year as compared to rs. 1.87 crores of last year. the assessee had borrowed from hdfc ..... the high court, held that the guarantee commission paid to the bank was revenue expenditure and hence was an allowable deduction in computing the total income of the assessee in the asstt. year 1968-69. interest on deferred payment for purchase of machinery was held to be revenue expenditure by the ..... . similarly, the processing charges paid on loan of rs. 2.00 crores towards phase-ii of tungwa project is allowable as revenue expenditure.the cit(a) held, accepting the contention, that the hotel business had already commenced and profit derived from hotel was declared by the asscssee both for ..... laid out or expended wholly and exclusively for the purpose of the assessee's business and was, therefore, allowable as a revenue expenditure. the act of borrowing money was incidental to the carrying on the business, the loan obtained was not an asset or an advantage of enduring nature, the .....

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May 31 1999 (HC)

Pooja Bhatt Vs. Assistant Commissioner of Income Tax

Court : Mumbai

Decided on : May-31-1999

Reported in : (2000)66TTJ(Mumbai)817

orderm. a. bakshi j.m.the appeal of the assessee is directed against the order dt. 30-12-1997, of assistant commissioner, central circle 23, mumbai, under section 158bc of income tax act, 1961. the block period is from 1-4-1986, to 18-12-1996.2. the relevant facts, in this case, are that the assessee is a film actress of hindi ..... viz., 'tamanna' under the banner of m/s pooja bhatt productions, her proprietary concern. on 18-12-1996, there was a search and seizure operation under section 132 of the income tax act, 1961, at the residential premises of the assessee. cash of rs. 98,500 and some documents were seized. a notice under section 158bc of the ..... income tax act, 1961, was issued to the assessee on 11-4-1997, in response to which the assessee had filed the return of income declaring nil undisclosed income. the assessing officer has made additions on various accounts under the following heads :'a. payment of 'on-money ..... contended that no incriminating documents were found during search action in regard to the fixed deposit reports. the details have been obtained from the balance sheet on record of the income tax department on the basis of which addition has been made.10. it was further contended that the assessing officer has unjustifiably made additions on account of low withdrawals and has .....

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