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Judgment Search Results Home > Cases Phrase: income tax act Court: supreme court of india Year: 1999 Page 2 of about 188 results (0.203 seconds)

Apr 13 1999 (SC)

The Commissioner of Income Tax Vs. M/S Cynamid India Ltd.

Court : Supreme Court of India

Decided on : Apr-13-1999

Reported in : AIR1999SC1346; 1999(3)ALLMR(SC)186; [1999]237ITR585(SC); JT1999(3)SC46; 1999(2)SCALE547; (1999)3SCC727; [1999]2SCR601

..... as a result of dehusking and are covered by the term 'agricultural product'.6. the high court has also formed an opinion that section 35c of the income-tax act, 1961 was designed to encourage development of agriculture and therefore gave a weighted deduction in respect of expenditure incurred in providing to the agriculturists services and facilities ..... therefore the revenue does not press the appeals to that extent. he has made his submissions confined to question no. 4 only.4. section 35c of the income-tax act, 1961 (as it stood during the assessment years 1974-75 and 1975-76) provided for deduction in respect of certain expenses referable to use as raw material ..... -768. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the weighted deduction under section 35b of the income-tax act, 1961 on only 50% of the amount of rs. 20,706/- ought to be allowed?2. there were in all eight questions forming subject-matter of ..... 352/- plus rs. 1,60,428/- for assessment year 1974-75 and rs. 2,00,599/- for the assessment year 1975-76 under section 35c of the income-tax act, 1961?for assessment year 1974-756. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee's ..... orderr.c. lahoti, j.1. in a reference under section 256 of the income-tax act, 1961, the following three questions amongst others were answered by the high court in favour of the assessee and against the revenue:--for assessment .....

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Apr 15 1999 (SC)

Commissioner of Income Tax, Karnataka Vs. Sterling Foods, Mangalore

Court : Supreme Court of India

Decided on : Apr-15-1999

Reported in : AIR1999SC2036; 1999LC481(SC); 1999(108)ELT3(SC); [1999]237ITR579(SC); JT1999(3)SC227; 1999(2)SCALE678; (1999)4SCC98; [1999]2SCR699

..... year would have been bound by the earlier decision. however, it chose not to do so relying upon the fact that section 28 of the income tax act, 1961 had been amended in the meanwhile by the finance act, 1990 with effect from 1st april, 1962 by insertion of clause (iiia) and clause (iiib) with effect form april 1, 1967, which read as follows ..... , the tribunal was justified in law in holding that the receipt from the sale of import entitlements could not be included in the income of the assessee for the purpose of computing the relief under section 80hh of the income-tax act, 1961?2. the identical question had arisen in respect of the same assessee for an earlier year and the high court had ..... from the assessee's industrial undertaking and were, therefore, entitled to the deduction prescribed by section 80hh. learned counsel cited the judgment of the madras high court in commissioner of income-tax, madras-i v. wheel and rin company of india ltd. : [1977]107itr168(mad) which, no doubt, is squarely on the point and holds in favour of the assessee. to quote ..... 1979-80. both the amendments have been effected from 1962-63 and therefore, in 1979-80, the income received from the govt. of india by sale of import licences and incentives for export was income within the meaning of section 28 assessable to tax as income from profits and gains of business or profession. it is in that light that we have to answer .....

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May 13 1999 (SC)

Uco Bank, Calcutta Vs. Commissioner of Income-tax, West Bengal

Court : Supreme Court of India

Decided on : May-13-1999

Reported in : AIR1999SC2082; (1999)154CTR(SC)88; 1999(111)ELT673(SC); [1999]237ITR889(SC); JT1999(4)SC40; 1999(4)SCALE1; (1999)4SCC599; [1999]3SCR635

..... would be binding on the departmental authorities in view of the provisions of section 119 to ensure a uniform and proper administration and application of the income-tax act.21. the appeal is, therefore, allowed and the question is answered in favour of the assessee and against the department.civil appeal no. 9885 ..... question at all but has decided the matter on the basis of other provisions of law.17. the said circulars under section 119 of the income-tax act were not placed before the court in the correct perspective because the later circular continuing certain benefits to the assessees was overlooked and the withdrawn ..... inter alia, considered by a bench of five judges of this court. section 2(6a)(e) and section 12(1b) were introduced in the income-tax act by the finance act 15 of 1955 which came into force on 1st of april, 1955. the government, however, realised that the operation of section 12(1b) would ..... appeal of the assessee. a reference was made to the high court at the instance of the revenue under section 256(1) of the income-tax act. the following question was referred to the high court:whether, on the facts and in the circumstances of the case, the tribunal is justified in ..... law in cancelling the cit's order under section 263 of the income-tax act holding that when the assessment was completed, the only paper available was the board's circular dated 9th october, 1984 and, .....

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Feb 03 1999 (SC)

Commissioner of Income-tax Vs. Corporation Bank Ltd.

Court : Supreme Court of India

Decided on : Feb-03-1999

Reported in : [2002]254ITR791(SC)

..... 6, 1952, would govern the case and the reopening was not justified and on a reference before the high court under section 256(1) of the income-tax act, the high court answered the reference in favour of the assessee upon recording its approval on to the order of the tribunal. 5. the records depict ..... the year ending on december 31, 1968, completed on october 4,1969. subsequently, however, the assessment was reopened under section 147(a) of the income-tax act, 1961, to bring to tax a sum of rs. 54,485 in respect of interest suspense account. it is, however, according to the assessee, the sums representing interest on loans ..... raised before the high court : [1986]157itr509(kar) namely (page 510): '1. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in law in holding that the provisions of section 147(a) are not attracted 2. whether, on the facts and in the circumstance of ..... the assessee had disclosed this sum of rs. 54,485 in the balance-sheet as unrealised amount of interest along with thereturn filed by it and the income-tax officer had accepted the return and as a matter of fact had excluded that amount in the assessment order completed on october 4, 1969. 3. ..... terms of a notice under section 147(a) of the act, the assessment was reopened and a sum of rs. 54,485 was subjected to tax on the ground that the interest accrued and due on the loans advanced by the bank was the income of the bank for the relevant assessment year and the .....

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Jul 27 1999 (SC)

Union of India and ors. Vs. M.V. Valliappan and ors.

Court : Supreme Court of India

Decided on : Jul-27-1999

Reported in : AIR1999SC2526; (1999)155CTR(SC)193; [1999]238ITR1027(SC); JT1999(5)SC134; 1999(4)SCALE290; (1999)6SCC259; [1999]3SCR1146

..... counsel for the respondent.23. in this view of the matter, aforesaid appeals are allowed. the judgments and orders holding section 171(9) of the income tax act, 1961 and section 20a of the wealth tax act, 1957 as unconstitutional are quashed and set aside. the writ petitions filed by the respondents as mentioned above before the madras high court and kamataka ..... of the seventh schedule to the constitution empowers the parliament to enact the legislation for imposition of taxes on income other than agricultural income. further, the concept of partial partition of huf was not recognised under the income tax act, 1992 and was recognised only under the income tax act, 1961. all that is done by the amendment is to restore the status quo ante that ..... it is difficult to comprehend that the said amendment can be termed as beyond legislative competence. the parliament has the authority to delete or amend any provision of the income tax act and it cannot be said that it is beyond legislative competence. the legislative competence is to be decided on the basis of the constitution that empowers the legislature to ..... was effected with effect from that date by executing a deed of partition. an application under section 171(2) of the income tax act, 1961 for recognition of the said partial partition came to be filed before the income tax officer. the income tax officer passed an order dated 28th december, 1979 recognizing the partial partition. thereafter for the assessment year 1980-81, a return .....

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Aug 17 1999 (SC)

The Transmission Corporation of A.P. Ltd. and anr Vs. the Commissioner ...

Court : Supreme Court of India

Decided on : Aug-17-1999

Reported in : AIR1999SC3036; [1999]239ITR587(SC); JT1999(5)SC654; 1999(5)SCALE40; (1999)7SCC266; [1999]Supp1SCR504

..... .med and decided the following question :-whether, on the facts and in the circumstances of the case, the superintending engineer, civil circle, upper sileru, is liable to deduct income-tax under section 195 of the income-tax act, 1961 in respect of payments made to nonresidents viz., m/s. charmilles engineering works ltd., m/s. sacheron works ltd., and m/s. oerlikon engineering company and ..... .c. no. 205 of 1978:whether on the facts and in the circumstances of the case, the superintending engineer, civil circle, upper sileru, is liable to deduct income-tax under section 195 of the income-tax act, 1961 on the payments made to the non-resident company for the assessment years 1966-67,1967-68, 1968-69 and 1969-70?3. similar questions with regard ..... well; and the disbursements, which were of the nature of gross revenue receipts, were yet sums chargeable under the provisions of the income-tax act and came within the ambit of section 18(3b) of the act.13. hence, in our view there is no substance in the contention of the learned counsel for the appellant that the expression 'any other sum chargeable under ..... a non-resident 'any sum chargeable under the provisions of this act', shall, at the time of payment, deduct income tax thereon at the rates in force. it is his contention that under the income-tax act, tax can be levied and collected on the income but when the payments made to the non-resident were not entirely income, but a trading receipt, there is no question of deduction .....

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Aug 27 1999 (SC)

K.R. Patel (Dead) Through Lrs. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Aug-27-1999

Reported in : AIR1999SC3203; [1999]239ITR738(SC); JT1999(6)SC293; 1999(5)SCALE249; (1999)7SCC26; [1999]Supp2SCR44

..... 1/3 of the property mentioned in the will could be said to be held under trust and thus exempt within the meaning of section 4(3)(i) of the income tax act, 1922. the court answered the question in affirmative and said that it could not be laid down as a general rule that when debts of the testator are not paid ..... . whether, on the facts and in the circumstances of the case, k.r. patel and b.g. amin were liable to be assessed as trustees under section 161 of the income-tax act, 1961?2. these questions arose from the order of the appellate tribunal in the following circumstances.3. one mrs. bhikhubai chandulal jalundhwala, a resident of bombay, executed a will on ..... the estate of the testator was specifically receivable on behalf of his sons, the residuary beneficiaries. this court held that section 41 of the income-tax act, 1922 was not applicable as the administrator general received the income on his behalf as administrator and not on behalf of five sons of the testator. both the questions were answered in affirmative in favour of the ..... . 1. a division bench of the high court of judicature at bombay on a reference under section 256(1) of the income-tax act, 1961 (for short the 'act') decided all the three questions of law referred to it for its opinion by the income tax appellate tribunal ('appellate tribunal' for short) in favour of the revenue. the assessee is aggrieved. the questions of law are .....

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Sep 01 1999 (SC)

M/S Mysore Minerals Limited, M.G. Road, Bangalore Vs. the Commissioner ...

Court : Supreme Court of India

Decided on : Sep-01-1999

Reported in : AIR1999SC3185; (1999)156CTR(SC)1; [1999]239ITR775(SC); JT1999(6)SC444; 1999(5)SCALE340; (1999)7SCC106; [1999]Supp2SCR182

..... the statute of limitation applicable to the case, his right is for ever extinguished and the possessory owner acquires an absolute title.13. podar cements case (supra) is under the income-tax act and has to be taken as trend-setter on the concept of ownership. assistance from the law laid down therein can be taken for finding out meaning of the term ..... provision vesting of a title in the assessee though short of absolute ownership should also entitle the assessee to the benefit of section 32(1).4. section 32 of the income-tax act confers a benefit on the assessee. the provision should be so interpreted and the words used therein should be assigned such meaning as would enable the assessee securing the benefit ..... housing board. the actual deed of conveyance was not yet executed by the housing board in favour of the assessee. the assessee made a claim under section 32 of the income-tax act in respect of depreciation of buildings used for the purpose of the business of the assessee. the claim was rejected by the assessing officer forming an opinion that the assessee ..... title legally conveyed to him after complying with the requirements of law such as transfer of property act, registration act etc. but in the context of section 22 of the income-tax act having regard to the ground realities and further having regard to the object of the income -tax act namely, 'to tax the income', we are of the view, owner is a person who is entitled to receive .....

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Sep 29 1999 (SC)

United Commercial Bank, Calcutta Vs. Commissioner of Income Tax, West ...

Court : Supreme Court of India

Decided on : Sep-29-1999

Reported in : AIR2000SC94; (2000)1CALLT57(SC); (1999)156CTR(SC)380; [1999]240ITR355(SC); JT1999(7)SC544; 1999(6)SCALE257; (1999)8SCC338; [1999]Supp3SCR254

..... court and that majority decision in the said case cannot be looked upon as laying down that a circular which is properly issued under section 119 of the income-tax act for proper administration of the act and for relieving the rigour of too literal a construction of the law for the benefit of the assessee in certain situations would not be binding on ..... ]237itr889(sc) . after referring to the decision in state bank of travancore case (supra) the court observed:under section 145 of the income-tax act, 1961, income chargeable under the head 'profit and gains of business or profession' or 'income from other sources' shall be computed in accordance with the method of accounting regularly employed by the assessee; provided that in a case where the ..... -83:1. whether on the facts and in the circumstances of the case, the tribunal is justified in law in cancelling the cit's order under section 263 of the income-tax act holding that the case of state bank of travancore v. cit, kerala : [1986]158itr102(sc) is not applicable to the facts of the present case?2. whether on the fact and in ..... would not make its accrual non-accrual. before discussing the question involved, the court after considering provisions of the income tax act observed thus:it is settled that the income of the assessee will have to be determined according to the provisions of the act in consonance with the method of accountancy regularly employed by the assessee. the method of accounting regularly employed by the .....

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Mar 17 1999 (SC)

Commissioner of Income-tax Vs. E. Merck Service and Agencies

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : [2001]248ITR10(SC); 2001(1)SCALE379

order1. the high court at bombay rejected the revenue's application under section 256(2) of the income-tax act, 1961. the questions to which the application pertained read thus :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding ..... -shift allowance on computer only and not on data processing machines and computer is eligible for extra-shift allowance despite the fact that appendix-i, iii-c(3) of the income-tax rules, 1962, clearly, prohibit granting extra-shift allowance on both the above items ?(2) whether, on the facts and in the circumstances of the case, the tribunal was right in ..... data processing machine/computer even though the assessee is not engaged in any of the activities mentioned in section 32a(2) but only acts as indenting agent for foreign companies ?'2. the high court referred to its decision in cit v. i.b.m. world trade corporation : [1981]130itr739(bom) , and observed that the answers to the questions were self-evident.3 .....

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