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Judgment Search Results Home > Cases Phrase: income tax act Court: supreme court of india Page 1 of about 20,794 results (0.204 seconds)

Aug 11 1970 (SC)

Commissioner of Income-tax, Delhi (Central) Vs. Singh Engineering Work ...

Court : Supreme Court of India

Reported in : AIR1971SC95; [1970]78ITR90(SC); [1971]1SCR769

..... and untrue estimates of tax and had not given any satisfactory explanation in respect of them. he imposed penalties under section 273 of ..... a.n. grover, j.1. the respondent company which is an assessee was required by the income tax officer by notices issued under section 18a(1) of the indian income tax act 1922, hereinafter called the 'old act' to make an advance payment of tax amounting to rs. 3,17,077 for the assessment year 1960-61 and rs. 3,54,911 for the assessment year 1961-62 ..... 'new act' had come into force. the income tax officer took the view that the assessee had furnished inaccurate ..... subsequently riled its returns of income for the aforesaid two years declaring the total income of rs. 4,53,942/- and rs. 7,02,383/- respectively. the income tax officer completed the assessment of total income of rs. 5,35,000/- and rs. 8,99,029/- for the assessment years 1960-61 and 1961-62 on january 21, 1963 after the income tax act 1961, hereinafter called the .....

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Feb 19 1962 (SC)

indore Malwa United Mills Ltd. Vs. the Commissioner of Income-tax (Cen ...

Court : Supreme Court of India

Reported in : [1962]Supp3SCR310

..... this aspect of the case. 9. the answer to the question which we have to consider depends on the true scope and effect of s. 24 of the indian income-tax act. under the indian income-tax act, 1922, assessees are divided into three categories : (a) resident and ordinarily resident, (b) resident but not ordinarily resident, and (c) not resident. we are concerned in the ..... business, one within the taxable territories and the other outside them. mr. kolah has contended that the business was one business within the meaning of s. 10 of the indian income-tax act and in the two assessment years in question indore having become a part of the taxable territories, the provisions in sub-s. (2) of s. 24 came into operation; ..... incomewhich proceeds considered as accruing for thewere received having been in the taxable purpose ofin the taxable received in the territories assessmentterritories taxable territories under the indian(by apportioning the income-tax act.amount in col. 4 in (col. 7 plusthe proportion of col. 8)col 5 : col. 6)6 7 8 9rs. rs. rs. rs.------------------------------------------------------------------------52,68,048 5,05,296 ..... territories of british india. for and upto the assessment year 1949-50 the assessee company was treated as a non-resident within the meaning of s. 4a of the indian income-tax act, 1922. for the assessment years 1950-51, and 1951-52 which are two assessment years under consideration, the account years were the calendar years 1946 and 1950 respectively. indore .....

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Sep 15 1995 (SC)

Modi Industries Limited, Modinagar and ors. Vs. Commissioner of Income ...

Court : Supreme Court of India

Reported in : (1995)128CTR(SC)361; [1995]216ITR759(SC); JT1995(6)SC549; 1995(5)SCALE362; (1995)6SCC396; [1995]Supp3SCR642

..... of the allahabad high court in sir shadilal sugar and general mills ltd. : [1972]85itr363(all) . the assessment year concerned herein is 1960-61 and is governed by the indian income tax act, 1922. we have referred to the judgment under appeal in the body of the judgment and for the reasons recorded therein the appeal is dismissed. there shall be no order ..... ) . which is the subject-matter of civil appeal no. 1395 of 1974 before us. the assessment year concerned in this case is 1960-61 and, therefore, governed by the indian income tax act, 1922. r.s. pathak, j., (as he then was) speaking for the bench gave an additional reason in support of the view taken in sarangpur cotton. the learned judge referred ..... section 217. this section deals with liability to pay interest of a person who has not previously been assessed by regular assessment under this act or under the indian income tax act, 1922 but has filed an estimate of income and paid tax accordingly under sub-section (3) of section 212. as has been noted earlier in the judgment, 'regular assessment' in this context cannot have ..... under section 210.section 210 speaks of a person who has been previously assessed by way of regular assessment under this act or under the indian income tax act, 1922. such a person can be called upon by the income tax officer to pay advance tax determined in accordance with the provisions of sections 207, 208 and 209. any person who has not previously been assessed by .....

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Aug 20 1968 (SC)

Metal Box Company of India Ltd. Vs. their Workmen

Court : Supreme Court of India

Reported in : AIR1969SC612; [1969]39CompCas410(SC); [1969(18)FLR336]; [1969]73ITR53(SC); (1969)ILLJ785SC; [1969]1SCR750

..... in other words, when the tribunal reaches the stage of clause (c), does it have to assess the taxable income in accordance with the various provisions of the income-tax act just as an income-tax officer would do and assess the liability of income tax on such taxable income according to the rates applicable during the particular accounting year, or should it compute the balance of gross profits ..... the court was of the view that though such a liability is a contingent liability and therefore not a 'debt' under section 2(m) of the wealth-tax act, it would be deductible under the income-tax act while computing the taxable profits. in the instant case, the question is not whether such estimated liability arising under the gratuity schemes amounts to a debt or ..... on paid up and working capitals while working out the gross profits. parliament besides was or at any rate is presumed to have been aware that depreciation allowed under the income-tax act would not be sufficient for rehabilitation purposes.. it did away with rehabilitation as a prior charge partly because there were complaints that it was being ill-used, but partly ..... the company claimed the deduction of depreciation, it stands to reason that the burden of proof that the depreciation claimed by it was the correct amount in accordance with the income-tax act was on the company and that burden the company must discharge once its figure were challenged. but it was contended that once the company produced its auditors' certificate that .....

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Dec 05 1960 (SC)

RamnaraIn Sons (Pr.) Ltd. Vs. Commissioner of Income Tax, Bombay

Court : Supreme Court of India

Reported in : [1961]41ITR534(SC); [1961]2SCR904

..... and is open to challenge before the high court on a reference under section 66 of the income tax act - g. venkataswami naidu & co. v. commissioner of income tax [1959] supp. 1 s.c.r. 646 it was held in the oriental investment co., ltd. v. the commissioner of income tax, bombay [1958] s.c.r. 49 that the question whether the appellants' transactions amounted to ..... shah, j.1. the high court of judicature at bombay answered the following two questions referred by the income tax appellate tribunal, bench 'b', bombay, under section 66(1) of the indian income tax act, 1922 : (1) whether the acquisition of the managing agency of the dawn mills co., ltd., was in the nature of a 'business' carried on by the assessee company (2) if ..... price whichever was lower and to claim the difference between the opening and closing valuation as a trading loss. the appellate assistant commissioner confirmed that order. in appeal, the income tax appellate tribunal held that the managing agency of the dawn mills was acquired by the appellants as a part of their business activity and the shares of the mills having ..... private limited company registered under the indian companies act, 1913, and carry on business as brokers, managing agents and dealers in shares and securities. one of the objects for which the appellants were incorporated was to acquire managing agencies. the appellants also carried on business in shares of different companies, and were assessed to income-tax as dealers in shares and securities. 4 .....

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Apr 15 1981 (SC)

Commissioner of Income Tax, New Delhi Vs. Federation of Indian Chamber ...

Court : Supreme Court of India

Reported in : AIR1981SC1408; (1982)2CompLJ451(SC); (2009)22CTR(SC)124; [1981]130ITR186(SC); 1981(1)SCALE637; (1981)3SCC156; [1981]3SCR489; 1981(13)LC540(SC)

..... trust which are incidental or ancillary to the main purpose of the trust. the contention must, therefore, fail.in the result, the reference under section 257 of the income tax act, 1961 made by the income tax appellate tribunal, delhi-b, new delhi, must be answered against the revenue and in favour of the assessee. there shall be no order as to costs.venkataramiah, j ..... revenue and in favour of the assessee.a.p. sen, j.2. this direct reference under section 257 of the income tax act, 1961 (hereinafter referred to as 'the act') made by the income tax appellate tribunal delhi bench 'b' at the instance of the commissioner of income tax, delhi ii, new delhi raises the much vexed question as to whether the words 'not involving the carrying on ..... . andhra chamber of commerce : [1965]55itr722(sc) . in the immediately preceding assessment years 1960-61 and 1961-62, the income of the assessee was treated as exempt from tax under section 4(3)(i) of the income tax act, 1922.8. the income tax officer, however, felt that the decision of this court in the andhra chamber of commerce's case (supra) was no longer good law ..... at the expense of others? this is a question which necessarily arises when we read section 11 of the income-tax act, 1961. section 11 as it stands now grants exemption from payment of tax on any income, which would have otherwise been taxable, provided (1) the property yielding income is held under trust or such other legal obligation which is brought into existence by an .....

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May 08 1981 (SC)

Jamnaprasad Kanhaiyalal Vs. Commissioner of Income Tax, M.P., Bhopal

Court : Supreme Court of India

Reported in : AIR1981SC1759; (1981)23CTR(SC)146; [1981]130ITR244(SC); (1981)3SCC441; [1981]3SCR849

..... disclosure scheme.14. under sub-section (1) of section 24, a person was required to make a voluntary disclosure in respect of the amount representing the income chargeable to tax under the indian income tax act, 1922 or the income tax act, 1961 for any assessment year commencing on or before april 1, 1964. sub-section (1) makes it clear that the declarations, which were expected to be ..... august, 1965, and before the 1st day of april, 1966, a declaration in accordance with sub-section (2) in respect of the amount representing income chargeable to tax under the indian income-tax act, 1922 (11 of 1922), or the income-tax act, 1961 (43 of 1961), for assessment year commencing on or before the 1st day of april, 1964-(a) for which he has failed to furnish ..... 19th day of august, 1965, under the indian income tax act, 1922 (11 of 1922) or the income tax act, 1961 (43 of 1961), or(c) which has escaped assessment by reason of the omission or failure on the part of such person to make a return ..... a return within the time allowed under section 22 of the indian income-tax act, 1922 (11 of 1922), or section 139 of the income-tax act, 1961 (43 of 1961), or(b) which he has failed to disclose in a return of in come filed by him on or before the .....

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Aug 29 1985 (SC)

Commissioner of Income Tax, Bangalore Vs. J.H. Gotla, Yadagiri

Court : Supreme Court of India

Reported in : AIR1985SC1698; (1985)48CTR(SC)363; [1985]156ITR323(SC); (1985)4SCC343; [1985]Supp2SCR711; 1986(1)LC628(SC)

..... of the case, make any material difference. what has to be found out is what is to be included.22. income-tax act, 1922 was replaced by income-tax act, 1961. section 64 of the income-tax act, 1961, (hereinafter referred to as '1961 act') deals with inclusion of income of the assessee arising out of the assets transferred directly or indirectly to the spouse or the minor child. the provisions ..... august, 1973 for the assessment year 1959-60, 1960-61 and 1961-62 by certificate granted by the high court under section 66a(2) of the indian income tax act, 1922, hereinafter referred to as the 'act'.2. the assessee is an individual. he was carrying on business in the relevant assessment years in purchase and sale of ground-nut oil and was also ..... individual, there shall be included, as belonging to that individual' (emphasis supplied). then the different items including the items of assets transferred have been mentioned. the income-tax act only makes these as includible as such while the wealth-tax act makes these includible as belonging to the assessee. it is not necessary to examine whether in view of section 2(m) of the wealth ..... had taken the view that where the wife or the minor child of an individual incurred a loss which if it were income would be includible in the income of that individual under section 16(3) cf the income-tax act, 1922, such loss should be set off against the income of the individual, was withdrawn on 6th april, 1972. subsequently, section 64 of the 1961 .....

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Sep 01 2005 (SC)

Commissioner of Income Tax, Rajkot Vs. Shatrusailya Digvijaysingh Jade ...

Court : Supreme Court of India

Reported in : AIR2005SC4000; (2005)197CTR(SC)590; 2005(192)ELT3(SC); [2005]277ITR435(SC); JT2005(8)SC50; (2005)7SCC294; 2005(2)LC1425(SC)

..... learned asg appearing on behalf of the department would submit that the scheme was a self-contained code; that it stood on its own force different from the income tax act/wealth tax act; that the intention of the scheme as reflected in the speech of former finance minister indicated that the purpose of the scheme was to bring to an end ..... , the assessee herein filed appeals and revisions as mentioned in the statement given herein below: statement of appeals and revision petition vis--vis declarationsin respect of kvss under income tax act.___________________________________________________________________________________________assessment appeals/ date of date of date of order status on date of status on year revision filing filing on kvss kvss applicat the appli- petition of appeal/ ..... assessments had become final in the year 1992-93 (when the assessee's appeals were dismissed for failure to pre-deposit self-assessed tax) and that the respondent herein had filed revisions under the income tax act and wealth tax act in november/december, 1998 only to obtain the benefit of kar vivad samadhan scheme, 1998, which came into force w.e.f ..... as follows:in respect of assessment years 1984-85 to 1991-92, the assessee was liable to pay tax under assessment orders passed vide section 143(3) of the income tax act, 1961 and also under the assessment orders passed under the wealth tax act, 1957.being aggrieved by the assessment orders, the assessee herein, preferred appeals to the commissioner (a) .....

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Apr 11 1961 (SC)

Kishori Mohanlal Bakshi Vs. Union of India

Court : Supreme Court of India

Reported in : AIR1962SC1139; [1962]44ITR532(SC)

..... who was appointed an income-tax inspector in the income-tax department of the government of india in 1943 became an income-tax officer in the same department on promotion in 1946. it appears that the income-tax services were reconstituted by an order of the government of india dated september 29, 1944, and later on in 1953 section 5 of the income-tax act was amended in accordance ..... with this decision to reconstitute. one of the feature of the reconstitution was that in place of the one class of income-tax officer, two classes came into existence, one consisting of income-tax officers of class i service and the other class in which all ..... that article 16(1) has been violated. no such complaint can however be reasonably made, if for example, all income-tax officers while income- tax sub-inspectors are eligible for promotion only as income tax inspectors but not directly as income-tax officers.similarly, it of the income-tax officers of the same grade, some are eligible for promotion to a superior grade, and others are not, the ..... the creation of different grades in the government service, that is what the petitioner's argument amount to. the contention that art. 16 has been violated because class ii income-tax officers are not eligible for promotion to higher posts, like the posts of commissioners and assistant commissioners directly is, therefore wholly unsound.3. the only other contention raised .....

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