Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 2012 Page 3 of about 194 results (0.038 seconds)

Jul 03 2012 (HC)

The Commissioner of Income Tax Vs. Ca Computer Associates India Pvt. L ...

Court : Mumbai

Decided on : Jul-03-2012

..... (per s.j. vazifdar, j.) :- 1. this is an appeal under section 260-a of the income tax act against the order of the income tax appellate tribunal (itat) allowing the respondent's appeal against the order of the commissioner of income tax (appeals). 2. the appeal is admitted and with the consent of the parties heard finally on the following ..... the agreement, the respondent is liable to pay an annual royalty on all amounts invoiced at a rate of 30%. 4. the assessee filed its return of income for the a.y. 2002-2003 declaring a loss of about rs.14,55,99,340/-. the assessing officer (ao) referred the matter to the transfer pricing ..... had not paid for the same, it would make no difference to the determination of the arm's length price of the transaction. 8. section 92c of the act reads as under:- 92c. computation of arm's length price. - (1) the arm's length price in relation to an international transaction shall be determined ..... at about rs.5.85 crores resulting in a reduction of loss of about rs.1.50 crores. 5. the respondent's appeal was rejected by the cit (a). 6. it is pertinent to note that the tpo by the order under section 92ca(3) observed that the respondent's contention regarding the rate ..... officer (tpo) under section 92a(1) of the act for determining the arm's length price (alp) in respect of the royalty paid by the respondent to cami. the respondent claimed the alp at the contractual .....

Tag this Judgment!

Aug 01 2012 (HC)

Atomstroyexport a Joint Stock Company Vs. the Deputy Director of Incom ...

Court : Mumbai

Decided on : Aug-01-2012

..... and 2007-08 has held that : a) receipts from offshore services contracts are covered by provisions of section 44bbb of the income tax act. b) receipts from offshore supply contracts are also covered by provisions of section 44bbb of the income tax act. the drp has further held that section 44bbb refers to computation of profits in case of foreign company engaged in the ..... of the constitution of india the challenge is to the assumption of jurisdiction by the deputy director of income tax (international taxation) (hereinafter referred to as assessing officer) under section 147 to 151 of the income tax act, 1961 (hereinafter referred to as the the act). the assessing officer has assumed jurisdiction by issuing a notice dated 28/3/2011 under section 148 of ..... disclosed proper income in its return of income therefore, i have reason to believe that income chargeable to tax has escaped assessment within the meaning of section 147.therefore, notice under ..... ,48,10,591/-). thus receipts of rs.3167855651/- have not been disclosed in the return of income. as a result, income to the extent of rs.31.67.85,565/- has escaped assessment within the meaning of section 147 of the income tax act, 1961.such income thus been subjected to relief to which the assessee is not entitled. as the assessee has not .....

Tag this Judgment!

Jul 09 2012 (HC)

The Commissioner of Income Tax-3 Vs. Icici Bank Ltd.

Court : Mumbai

Decided on : Jul-09-2012

..... years and the record shows that the assessee company had claimed excess deduction u/s. 36(1)(viii) of the income tax act on income which included non fund base income and income from short term finance? 3) the appeal is admitted on the above question. at the instance and request of the advocates for ..... and states that the tribunal has not dealt with the above case law. in the above case while dealing with section 34(1)(b) of the income tax act, 1922 the court laid down the following parameters for the purposes for reopening of assessments. on a combined review of the decisions of this court the ..... of the case and in law the tribunal was right in holding that the notice for reopening of assessment issued u/s.148 of the income tax act was bad in law as the notice was based on mere change of opinion even though the assessment was reopened within a period of four ..... m.s. sanklecha, j. this appeal by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as the said act) is directed against the order dated 27/8/2010 of the income tax appellate tribunal (hereinafter referred to as the tribunal) relating to assessment year 1996-97. 2) being aggrieved by the ..... reopening of assessment for the assessment year 1996- 97 by a notice dated 20/3/2001 under section 148 of the said act. on 18/3/2004 the commissioner of income tax (appeals) disposed of the respondents appeal by holding that the reopening of assessment for 1996-97 by notice dated 20/3 .....

Tag this Judgment!

Sep 14 2012 (HC)

Zuari Agro Chemicals Limited Vs. the Commissioner of Income Tax, Centr ...

Court : Mumbai

Decided on : Sep-14-2012

..... the provision of services of technical personnel within the expression technical services, it provided the same expressly such as in sections 44-d, 115-a and 194-j of the income tax act. these three provisions adopt the definition of technical services in section 9(1)(vii). 11. the submission is not well founded, in any event, as an absolute proposition of law ..... and 1982-83. 2.(a) the tribunal has referred the following questions for the opinion of this court, at the instance of the assessee under section 256(1) of the income tax act, 1961: assessment year : 1981-82 1) whether on the facts and in the circumstances of the case, the tribunal erred in holding that the sum of japanese yen 2,973 ..... not be considered as income from business operations. he held that the receipts in the hands of toyo were in the nature of fees for technical services and that the ..... an enterprise shall be treated as income from sources within the contracting state in which are rendered the services for which such fees paid. 8. the ito held that the receipt of the said amounts in the hands of toyo constituted fees for technical services within the meaning of section 9(1)(vii) of the income tax act, 1961 and that the same could .....

Tag this Judgment!

Sep 14 2012 (HC)

Zuari Agro Chemicals Limited Vs. the Commissioner of Income Tax, Centr ...

Court : Mumbai

Decided on : Sep-14-2012

..... the provision of services of technical personnel within the expression ??technical services ? , it provided the same expressly such as in sections 44-d, 115-a and 194-j of the income tax act. these three provisions adopt the definition of ??technical services ? in section 9(1)(vii). 11. the submission is not well founded, in any event, as an absolute proposition of law ..... and 1982-83. 2.(a) the tribunal has referred the following questions for the opinion of this court, at the instance of the assessee under section 256(1) of the income tax act, 1961: ??assessment year : 1981-82 1) whether on the facts and in the circumstances of the case, the tribunal erred in holding that the sum of japanese yen 2,973 ..... not be considered as income from business operations. he held that the receipts in the hands of toyo were in the nature of fees for technical services and that the ..... an enterprise shall be treated as income from sources within the contracting state in which are rendered the services for which such fees paid. ? 8. the ito held that the receipt of the said amounts in the hands of toyo constituted fees for technical services within the meaning of section 9(1)(vii) of the income tax act, 1961 and that the same could .....

Tag this Judgment!

Sep 07 2012 (HC)

Sanchit Software and Solutions Pvt. Ltd. Vs. Commissioner of Income Ta ...

Court : Mumbai

Decided on : Sep-07-2012

..... petitioner challenges the order dated 07.02.2011 passed by the commissioner of income tax under section 264 of the income tax act, 1961 ('the act') dismissing the petitioner's revision application. the challenge is to the failure of the commissioner of income tax to exercise jurisdiction vested in her under section 264 of the act. 2. brief facts leading to this petition are as under: a) the petitioner ..... basis that revisional jurisdiction is akin to an appeal and her jurisdiction is limited to that which could be exercised by the assessing officer under section 143(1) of the act; b) the commissioner of income tax acted without jurisdiction in rejecting the revision application as it was in the face of a binding circular of central board of direct ..... the matter and has no relevance to the application under section 154. in any event, now that the order dated 7.04.2011, of the commissioner of income-tax under section 264 of the act has been set aside for fresh consideration, the assessing officer would be bound to and is directed to consider the rectification application filed by the petitioner on its ..... . no order has yet been passed on the aforesaid rectification application. f) on 08.02.2010 itself the petitioner also filed a revision application under section 264 of the act with the commissioner of income tax. by the revision application the petitioner sought a revision of the order in the form of intimation dated 16.10.2008 under section 143(1) of the .....

Tag this Judgment!

Aug 21 2012 (HC)

Commissioner of Income Tax-10 Vs. Wander Pvt. Ltd.

Court : Mumbai

Decided on : Aug-21-2012

p.c. this is an appeal under section 260(a) of the income tax act, 1961 against the order of the income tax appellate tribunal dismissing the appellant's appeal being ita no.3995/mum/2006 pertaining to the assessment year 1997-1998. 2. the appellant has sought to raise the following questions ..... with a direction to decide the issue of levy of penalty after the decision of this court in the said appeal. the tribunal accordingly set-aside the order of the cit (a) and directed the ao to give the respondent a reasonable opportunity of being heard before passing the order upon remand. 4. as noted earlier, the appeal against the quantum .....

Tag this Judgment!

Jul 09 2012 (HC)

The Commissioner of Income Tax-3 Vs. Icici Bank Ltd.

Court : Mumbai

Decided on : Jul-09-2012

..... years and the record shows that the assessee company had claimed excess deduction u/s. 36(1)(viii) of the income tax act on income which included non fund base income and income from short term finance? 3) the appeal is admitted on the above question. at the instance and request of the advocates for ..... and states that the tribunal has not dealt with the above case law. in the above case while dealing with section 34(1)(b) of the income tax act, 1922 the court laid down the following parameters for the purposes for reopening of assessments. ??on a combined review of the decisions of this court the ..... of the case and in law the tribunal was right in holding that the notice for reopening of assessment issued u/s.148 of the income tax act was bad in law as the notice was based on mere change of opinion even though the assessment was reopened within a period of four ..... m.s. sanklecha, j. this appeal by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as the said act) is directed against the order dated 27/8/2010 of the income tax appellate tribunal (hereinafter referred to as the ??tribunal ? ) relating to assessment year 1996-97. 2) being aggrieved by the ..... reopening of assessment for the assessment year 1996- 97 by a notice dated 20/3/2001 under section 148 of the said act. on 18/3/2004 the commissioner of income tax (appeals) disposed of the respondents appeal by holding that the reopening of assessment for 1996-97 by notice dated 20/3/2001 .....

Tag this Judgment!

Jul 05 2012 (HC)

The Commissioner of Income Tax Vs. Ms. Janhavi S. Desai

Court : Mumbai

Decided on : Jul-05-2012

..... by him from his mother would start from 21.8.1988 and not from 1.4.1981. 8. section 2(42a) of the income tax act, 1961 reads as under :- 2. definitions in this act, unless the context otherwise requires, (42-a) short-term capital asset means a capital asset held by an assessee for not more ..... (per s.j. vazifdar, j.) :- 1. with the consent of the parties, we proceed to hear the appeal filed under section 260a of the income tax act, 1961 and the cross-objections finally. 2. the appeal is admitted on the following substantial question of law :- whether on the facts and circumstances of ..... included the period for which the original owner held the assets that devolved upon the legal heir. 6. the appellant challenged the order of the cit (a) before the income tax appellate tribunal (itat). the itat held that the period for holding 50% of the property inherited by the respondent from his father would start from ..... shall be included the period for which the asset was held by the previous owner referred to in the said section. section 49(1) of the said act in so far as it is relevant reads as under :- 49. cost with reference to certain modes of acquisition.(1) where the capital asset became the ..... the case the itat was right in directing the a.o. to calculate the long term capital gain without appreciating that section 2(42a) of the act explanation 1 only determines the holding period of an asset for the purpose of short term capital gains and has no application to long term capital gain .....

Tag this Judgment!

Sep 12 2012 (HC)

The Commissioner of Income Tax And#8211; 10 Vs. M/S. Indian Oil Corpor ...

Court : Mumbai

Decided on : Sep-12-2012

..... (b). the notes on clauses in respect of the finance bill reads as under: clause 85 of the bill seeks to insert a new explanation to section 234d of the income -tax act relating to interest on excess refund. the existing provisions of sub-section (1) of the aforesaid section 234d provides that where any refund is granted to the assessee under sub ..... explained in the memorandum explaining the provisions of the finance bill 2012 inter alia as under: under the existing provisions of section 234d of the income tax act (inserted with effect from 1st june, 2003, vide the finance act,2003), where any refund has been granted to the assessee under sub-section(1) of section 143 and subsequently on regular assessment, no refund ..... a matter of procedure cannot apply retrospectively to a breach under the indian income tax act, 1922. this conclusion was reached as section 297 of the said act was made applicable to returns of income filed after the commencement of this act only with regard to the procedure specified under the said act. 14) the rule against retrospective operation of a statute unless so provided ..... a delay in filing the return of income under the indian income tax, 1922, particularly, when the same were filed when the said act was in operation. the said act provided for charging of interest for delayed filing of return of income. there was no provision for charging of interest for delayed filing of return of income under the indian income tax act, 1922. the court held that such .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //