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Judgment Search Results Home > Cases Phrase: income tax act Court: supreme court of india Year: 1999 Page 1 of about 188 results (0.109 seconds)

Mar 09 1999 (SC)

Eastern Chemical and Minerals Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-09-1999

Reported in : AIR1999SC2276; [1999]237ITR6(SC); JT1999(2)SC126; 1999(2)SCALE8; (1999)3SCC304; [1999]1SCR948

..... ) was issued in exercise of the powers conferred by section 104(3). it read thus :in exercise of the powers conferred by sub-section (3) of section 104 of the income-tax act, 1961 (43 of 1961), and in partial modification of the ministry of finance (department of revenue and insurance) notification no. s.o.2007 dated the 6th june. 1967, the central ..... s.o. no. 3210, dated 8.8.1969 and therefore the assessee would be entitled to enjoy the exemption from the operation of the provision of section 104 of the income tax act. 1961?2. as indicated in the questions, we are concerned with the assessment years 1972- 73 to 1974-75.3. to appreciate what is involved, it is necessary to set ..... out, at the outset, the provisions of section 104 of the income tax act, 1961 so far as they are relevant:104. income-tax on undistributed income of certain companies -(1) subject to the provisions of this section and of sections 105, 106, 107 and 107a, where the ..... was right in holding that having regard to the notification under section 104(3) of the income tax act, 1961 in s.o. no. 3210, dated 8.8.1969 issued by the government the asses-see was not liable to pay additional tax under section 104 of the income tax act, 1961 for any of the assessment years from 1972-73 to 1974-75?2. whether on .....

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Dec 06 1999 (SC)

Alankar Commercial Pvt. Ltd. Vs. Assistant Commissioner of Income-tax ...

Court : Supreme Court of India

Decided on : Dec-06-1999

Reported in : [2000]101CompCas243(SC); [2000]244ITR31(SC); JT1999(10)SC442; (2001)9SCC380

b.n. kirpal and; s. rajendra babu, jj.1. it is contended that sikkim was not a part of india and at that time the income tax act was not applicable in respect of the assessment year for which notice was served in new delhi. learned counsel for the petitioner relies upon the decision of this court in state of sikkim v. surendra prasad sharma1.2. the aforesaid decision in surendra sharma case1 related to the employees employed in a company in sikkim and the question which arose there was whether the indian law applied or not. the question of applicability of the income tax act did not arise in that case, therefore, the said decision has no relevance. the indian income tax act, inter alia, taxes income which accrues or arises in india. it is immaterial whether the petitioner company has its head office in sikkim or may be carrying on business activities there. the impugned notice under section 148 of the income tax act has been issued in relation to the income which is stated to have arisen in india and this can be done even if the petitioner has a company registered in sikkim. the decision of the high court calls for no interference.3. the petition for special leave is dismissed.

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Mar 18 1999 (SC)

Stonecraft Enterprises Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : AIR1999SC1638; (1999)153CTR(SC)86; [1999]237ITR131(SC); JT1999(2)SC332; 1999(2)SCALE219; (1999)3SCC343; [1999]2SCR17

..... was not correct in holding that 'granite' is a 'mineral' within the meaning of the term found in section 80hhc(b)(ii), income tax act?2. whether on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee is not entitled ..... the assessee exports granite. the assessee claimed for the granite which it exported the deduction available under section 80hhc of the income tax act, 1961 as inserted by the finance act, 1983 with effect from 1st april, 1983. the relevant provision permits, where 'an assessee, being an indian company or ..... a person (other than a company) resident in india, is engaged in the business of export out of india of any goods or merchandise to which this section applies', the deduction in the computation of its total income ..... value added marketable commodity; therefore, profits derived from export of granite dimensional blocks would be eligible for deduction under section 80hhc of the act. as we have already noted, there is nothing on record to indicate that what the assessee exports is such value added granite so ..... in question, the assessee cannot derive any assistance therefrom.5. it is necessary immediately to note that the mines and minerals (regulation and development) act covers granite as a minor mineral. this court in the state of mysore v. swamy satyanand saraswati (dead) by his lrs., : air1971sc1569 , .....

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Mar 24 1999 (SC)

Commissioner of Income-tax, Bangalore Vs. Venkateswara Hatcheries (P) ...

Court : Supreme Court of India

Decided on : Mar-24-1999

Reported in : AIR1999SC1225; [1999]237ITR174(SC); JT1999(2)SC338; 1999(2)SCALE257; (1999)3SCC632; [1999]2SCR177

..... run by the assessee conies within the meaning of the expression 'manufacture or produce articles or things' occurring in section 32a(2) and section 80j of the income tax act (hereinafter referred to as 'the act'). the further question to be decided is whether the assessee is an industrial undertaking'. the appeals excepting civil appeal no. 2596 of 1997 are directed against the ..... 10(27) specifically excluded poultry income from being included in total income. the meaning of total income in section 2(45) of the income tax act is as follows :'total income' means the total amount of income referred to in section 5, computed in the manner laid down in this act.17. section 14(d) of the income tax act deals with one part of the total income, namely, profit and gains ..... of business. section 29 of the income tux deals ..... with deductions from the profit and gains. section 32a is one of the sections dealing with such deductions. therefore, the income from poultry being outside the scope of .....

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Sep 21 1999 (SC)

General Insurance Corporation of India Vs. Commissioner of Income Tax, ...

Court : Supreme Court of India

Decided on : Sep-21-1999

Reported in : AIR1999SC3769; [1999]240ITR139(SC); JT1999(7)SC282; 1999(6)SCALE33; (1999)8SCC60; [1999]Supp2SCR742

..... and gains of business by including it in 'expenditure not admissible under the provisions of sections 30 to 43a of income-tax act' by reference to rule 5(a) of the first schedule to income-tax act, 1961. the question referred to the high court should have been answered in affirmative.25. the appeal is allowed ..... to the case at hand. in none of the three cases, the question of determining applicability of section 44 and the first schedule of the income-tax act arose for consideration.24. to sum up, the amount set apart by general insurance corporation for redemption of preference shares and treated as expenditure under ..... the shareholder to the company so as to be taxable for capital gains as amounting to transfer within the meaning of section 2(47) of the income-tax act, 1961. their lordships held that such redemption amounted to a sale and hence was covered by the definition of transfer. in associated power co, ..... should be taken to its logical conclusion so as to hold that the expenditure was allowable as deduction under sections 30 to 43a of the income-tax act. the tribunal upheld the contention that the provision made by the assessee was neither an expenditure nor an allowance in the ordinary commercial sense and ..... to be an amount of expenditure, it was not an item of expenditure dealt with by the provisions of sections 30 to 43a of the income-tax act. accordingly, the claim of the assessee was liable to be upheld.7. on a request made by the revenue, the following question was referred .....

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Feb 05 1999 (SC)

R. Dalmia and anr. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Feb-05-1999

Reported in : AIR1998SC868; (1999)152CTR(SC)383; [1999]236ITR480(SC); JT1999(1)SC300; 1999(1)SCALE307; (1999)2SCC758; [1999]1SCR454

..... of a division bench of the high court at delhi. the question is whether the additional period of 180 days given by explanation 1(iv) of section 153 of the income tax act, 1961, is available when the assessment or reassessment is made under section 147.2. we are concerned with assessments/reassessments made under section 147. in one set of appeals ..... works pvt. ltd. : [1992]198itr297(sc) , it was held :as a result of the aforesaid discussion, we find that, in proceedings under section 147 of the act, the income tax officer may bring to charge items of income which had escaped assessment other than or in addition to that item or items which have led to the issuance of the notice under section 148 ..... an incongruity. the reopening of an already completed assessment for the reason that the income tax officer has reason to believe that income chargeable to tax has escaped assessment is a serious matter. the act requires the income tax officer to record his reasons for issuing a notice under section 148. the act also requires that such notice shall not be issued unless the higher authorities mentioned in ..... reads thus :144b. reference to inspecting assistant commissioner in certain case. - (1) notwithstanding anything contained in this act, where, in an assessment to be made under sub-section (3) of section 143, the income-tax officer proposes to make any variation in the income or loss returned which is prejudicial to the assessee and the amount of such variation exceeds the amount fixed .....

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Feb 04 1999 (SC)

Commissioner of Income Tax, Shillong Vs. Tarajan Tea Co. (P) Ltd.

Court : Supreme Court of India

Decided on : Feb-04-1999

Reported in : AIR1999SC1034; (1999)152CTR(SC)1; [1999]236ITR477(SC); JT1999(1)SC297; 1999(1)SCALE319; (1999)2SCC455; [1999]1SCR396

..... out by the assessee for enabling the completion of his assessment. however, the i.t.o. re-opened the assessment and issued a notice under section 147(a) of the income tax act on the basis that in the case of another tea company, the appellate assistant commissioner had taken the view that sale of standing trees constituted revenue receipts and, therefore, liable ..... , the tribunal having held that there was no case for re-opening the assessment under section 147(a) of the income tax act, 1961 on the reason recorded, nor any cause for re-opening of the assessment under section 147(b) of the act on the reasons recorded on 31.3.77 was justified in law in sustaining the re- opening of assessment under ..... of the case the tribunal was justified in law in setting aside the order of the appellate assistant commissioner of income tax cancelling the re-assessment orders passed by the income tax officer in ignorance of section 144-b of the act and in directing the income tax officer to resort to the provisions of section 144-b afresh instead of annulling and/or cancelling the re ..... taking into consideration the legal bar of limitation for the passing of re-assessment orders under section 153 of the act?2. the short facts which gave rise to that reference were that the respondent-assessee was duly assessed by the income tax officer (i.t.o.) for the relevant period on the basis of the information supplied by the assessee. no particulars .....

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Mar 18 1999 (SC)

Commissioner of Income Tax Vs. Sirpur Paper Mills

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : AIR1999SC1264; [1999]237ITR41(SC); JT1999(2)SC328; 1999(2)SCALE160; (1999)3SCC596; [1999]2SCR10

..... against the judgment in hyderabad asbestos cement products ltd. was dismissed on a technical ground, we have heard these appeals on their merits.6. section 36(1)(iv) of the income tax act deals with deductions on account of contributions to recognised provident funds and approved superannuation funds. section 36(1)(iv) reads thus : section 36(1) the deductions provided for in the ..... the purposes of deduction of certain contributions :in exercise of the powers conferred by clause (iv) of sub-section (1) of section 36 of the income tax act, 1961 (43 of 1961), the central board of direct taxes hereby specified the following conditions for the deduction of contributions, not being annual contributions of fixed amounts or annual contributions fixed on some definite basis by ..... the past five years it was an aggregated amount of rs. 2,14,785, calculated on the basis of 25% of the employees' dues on account of past service. the income tax officer allowed the deduction only to the extent of 80% of the aggregate contribution and spread it out over a period of five years. for so doing, he relied upon ..... we are concerned with reads thus :whether on the facts and in the circumstances of the case, the appellate tribunal was justified in confirming the order of the commissioner of income-tax (appeals) that the entire initial contribution made to the superannuation fund is allowable deduction.2. the high court declined to call for its reference and the revenue is in appeal .....

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Apr 01 1999 (SC)

Orissa State Warehousing Corporation Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Apr-01-1999

Reported in : AIR1999SC1388; (1999)153CTR(SC)177; [1999]237ITR589(SC); JT1999(2)SC527; 1999(2)SCALE420; (1999)4SCC197; [1999]2SCR383

..... , by the grant of special leave against the judgments of the high courts of orissa and rajasthan, centers round the interpretation of section 10(29) of the income tax act, 1961 (hereinafter referred to as 'the act').2. before however, proceeding further in these matters, it will be convenient to note that hearing of these appeals was taken up together by consent of the ..... . (emphasis supplied)22. dr. pal relying upon the said decision very strongly contended that this court was considering section 14(3)(iv) of the income tax act 1922 which is in pari materia with section 10(29) of the act and the decision of this court can be treated to be a direct authority for the proposition that widest possible interpretation ought to be ..... the marketing of the commodities as envisaged under section 10(29). the tribunal, however, at the instance of the revenue referred the following question under section 256(1) of the income-tax act for the assessment year 1974-75 to 1982-83 to the high court- the question being:whether on the facts and circumstances of the case the ..... court are right in the view adopted by them. as was observed by the gujarat high court in cit v. ahmedabad maskati cloth dealers co-operative warehouses society ltd. : [1986]162itr142(guj) , while considering the analogous provision of section 80p(2xe) of the income-tax act, 1961, the provision for exemption was intended to encourage co-operative societies to construct warehouses which were likely .....

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Mar 31 1999 (SC)

Aravinda Paramila Works Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-31-1999

Reported in : AIR1999SC2619; (1999)153CTR(SC)205; [1999]237ITR284(SC); JT1999(2)SC549; 1999(2)SCALE475; (1999)3SCC729; [1999]2SCR348

..... in this appeal is whether payment of commission to an agent abroad is no maintenance of an agency within the meaning of section 35-b(1)(b)(iv) of the income-tax act, 1961. the high courts have taken divergent views.2. we are concerned with the assessment year 1981-82. the assessee manufactured agarbathis. it had exported agarbathis during the year under ..... claimed weighted deduction under the aforementioned provision in respect of such expenditure of rs. 13,23,225/-. it was disallowed by the assessing authority. the commissioner of income-tax (appeals) took a contrary view. the income-tax appellate tribunal held that the commissioner (appeals) was not justified in allowing the said weighted deduction. from out of the judgment and order of the tribunal, the ..... chosen to raise the point that the expenditure there concerned would not fall within the ambit of the clauses in section 35.10. the gujarat high court in commr. of income-tax v. cadila laboratories (p) ltd. : [1996]221itr35(guj) , referred to the meaning of the word 'agency' as found in halsbury's laws of england. it is there stated that 'the ..... section 35-b(1)(b)(iv) of the act, in respect of the commission payments made to agents outside india?the high court answered the question in the affirmative and in favour of the revenue, following its earlier decision in chief commr. of income-tax v. mysore sales international ltd. (1991) 195 itr 457 : 1992 tax lr 908. the assessee is in appeal by .....

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