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Judgment Search Results Home > Cases Phrase: income tax act Court: supreme court of india Year: 1999 Page 5 of about 188 results (0.105 seconds)

Mar 11 1999 (SC)

Commissioner of Income-tax, Trivandrum Vs. Relish Goods

Court : Supreme Court of India

Decided on : Mar-11-1999

Reported in : AIR1999SC1640; [1999]237ITR59(SC); JT1999(2)SC130; 1999(2)KLT1(SC); 1999(I)OLR(SC)658; 1999(2)SCALE17; (1999)3SCC167; [1999]1SCR992

..... prawns, this judgment in sterling foods (supra) has been rightly applied by the bombay high court, in the case of commissioner of income- tax v. sterling foods (goa) : [1995]213itr851(bom) , to a claim under section 80hh of the income-tax act and it has been held that the activity of processing of prawns is not an activity of manufacture or production.7. we are ..... of the case :i) the assessee's business involves 'production' ?ii) the assessee is entitled to exemption under section 80hh of the i.t. act, 1961?2. the assessee claimed the allowance under section 80hh of the income-tax act, 1961, on the ground that it was an industrial undertaking that manufactured/produced articles. it would appear from the judgment of the tribunal that ..... high court held that buying and processing of shrimps involved production and, therefore, the assessee was entitled to the allowance that it claimed. it followed its judgment in commissioner of income-tax v. marwell sea foods : [1987]166itr624(ker) .4. we find from the judgment of the kerala high court in the case of marwell sea foods (supra) that harwell sea foods ..... the assessee bought shrimps, peeled them and froze them. there is, no other material on the record which indicates what was done by the assessee and how it was done. the income-tax officer negatived .....

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Mar 18 1999 (SC)

Commissioner of Income Tax, Jabalpur Vs. Keshri Metal Pvt. Ltd., Raipu ...

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : AIR1999SC3801; [1999]237ITR165(SC); JT1999(3)SC45; (1999)9SCC165

..... income-tax act, 1961 because the assessing officer found that depreciation under the companies act had been allowed at rs. 11,53,374/- whereas it was actually allowable at rs. 11,38,057/-. he also found that unabsorbed depreciation ..... justified in upholding the finding of the learned c.i.t. (a) who cancelled the order of the assessing officer passed on 18-6-1991 under section 154 of the income-tax act, 1961?2. the revenue is in appeal. the order of assessment was made on 30th march, 1990. it was then rectified under section 154 of the ..... not something on which there might conceivably be two points of view. the income-tax appellate tribunal confirmed the view taken by the commissioner (appeals).4. on the application of the revenue, the tribunal referred the question aforementioned to the high court and it drew ..... that there was a mistake apparent from the record and he made the rectification after giving to the assessee the opportunity of being heard.3. in appeal, the commissioner of income-tax (appeals) cancelled the order under section 154. he noted that the mistake to be rectified had to be apparent from the record; it had to be an obvious mistake and .....

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Feb 17 1999 (SC)

Commissioner of Income Tax, Baroda Vs. Gujarat Alkalies and Chemicals ...

Court : Supreme Court of India

Decided on : Feb-17-1999

Reported in : AIR2000SC3628; [2000]246ITR462(SC); (1999)9SCC228

..... understood at that time by the decisions of the court. hence the fact that the estimated income returned by the assessee for the purpose of advance-tax was lesser than the annual income would not bring the assessee within the ambit of section 273(2)(a) of the income-tax act. the view expressed by the tribunal on such factual conclusions is unassailable and the high ..... . the only question that was sought to be referred to the high court by the revenue was as follows:whether when the assessing officer as well as the commissioner of income-tax (appeals) had given a categorical finding that the assessee had acted in conscious disregard of its statutory obligation with a view to reduce the quantum of its legitimate and proper advance ..... the i.-t. act.2. the appellate tribunal rejected the application of the revenue for reference on ..... -tax liability, the appellate tribunal was right in law and on fact in holding that this was not a fit case for levy of penalty under section 279(2)(a) of .....

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Feb 23 1999 (SC)

Cit, Gujarat Iii Vs. Cadila Chemicals

Court : Supreme Court of India

Decided on : Feb-23-1999

Reported in : AIR2000SC3615; [2000]244ITR28(SC); (1999)9SCC35

..... sets of assessment years, are common. they read thus:(1) whether the tribunal is right in law and on facts in deleting the addition under section 40a(5) of the income-tax act, 1961 in respect of premium paid for the purchase of deferred annuity policies in respect of two managing directors?(ii) whether the appellate tribunal is right in distinguishing the decision ..... by the high court is requisite.5. the appeals are allowed. the orders under appeal are set aside. the applications made by the revenue under section 256(2) of the income-tax act are allowed. the tribunal is directed to refer the questions to the high court for consideration, having drawn up the requisite statement of cases. no order as to costs. ..... deduction in so far as the employer was concerned. he also submitted that the gujarat high court, in a matter relating to the employer, gujarat steel tubes v. commr. of income-tax : [1994]210itr358(guj) , had taken a view which favoured the revenue. there was, therefore, a question of law to be considered and the high court ought to have called upon ..... the high court. the high court took the view that they need not be referred because the issue was settled by the decision of the supreme court in commr. of income-tax v. l.w. russel : [1964]53itr91(sc) .3. learned counsel for the appellant-revenue submitted that the decision in russel's case aforementioned concluded the matter in so far as .....

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Feb 12 1999 (SC)

income-tax Officer Vs. Saradbhai M. Lakhani and anr.

Court : Supreme Court of India

Decided on : Feb-12-1999

Reported in : (2000)161CTR(SC)298; [2000]243ITR1b(SC); (2000)10SCC371

..... appeal against the judgment of the gujarat high court which had allowed a writ petition filed by the respondent who had challenged the notice issued under section 148 of the income-tax act, 1961, whereby the respondent's assessment in respect of the year 1988-89 was sought to be reopened.4. the reason for reopening of the assessment was that the gujarat ..... observing that in the absence of mention of the judgment of the gujarat high court in banyan and berry's case : [1996]222itr831(guj) , it was not open to the income-tax officer to justify the order by reference to the said decision.7. it is evident that the aforesaid view of the high court is not correct. this court has held ..... that on the basis of the information which is received by the income-tax officer, reassessment proceedings can be initiated. the information which was received by the income-tax officer was the decision of the gujarat high court in banyan and berry's case : [1996]222itr831(guj) . when the ..... income-tax officer became aware of this decision, he could initiate the proceedings under section 147(b) as has been held by this court in a l. a. firm v. cit : [1991]189itr285(sc) .8. for the aforesaid reasons, we hold that the high court was not .....

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Aug 06 1999 (SC)

Zunjarrao Bhikaji Nagarkar Vs. U.O.i. and Others

Court : Supreme Court of India

Decided on : Aug-06-1999

Reported in : AIR1999SC2881; 1999(66)ECC40; 1999LC29(SC); 1999(112)ELT772(SC); JT1999(5)SC366; (2000)ILLJ728SC; 1999(4)SCALE480; (1999)7SCC409; [1999]Supp1SCR87; 2000(1)SLJ291(SC)

..... gave illegal and improper directions to the assessing officer to complete the assessments of three firms under section 143(1) of the income tax act even though at the relevant time proceedings under section 144a of the income tax act were pending before him and these cases did not come within the purview of summary assessment scheme of amnesty scheme of the central board of ..... to penalty. we may contrast the provisions of rule 173q and section 11ac with section 271 of the income-tax act, 1961. this section, prior to amendment in 1988, stood as under:failure to furnish returns, comply with notices, concealment of income, etc. 271. (1) if the income tax officer or the appellate assistant commissioner or the commissioner (appeals) in the course of any proceedings under ..... be less than, but which shall not exceed twice, the amount of tax sought to be evaded by reason of the concealment of particulars of his income or the furnishing of inaccurate particulars of such income:...34. it would, thus, be seen that under provisions of section 271 of the income tax act in the first instance there is a discretion with the assessing authority whether ..... direct taxes and, therefore, respondent had violated rule 3(1)(i), 3(1)(ii) and 3(1)(iii) of the ccs (conduct) rules, 1964. .....

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Aug 17 1999 (SC)

Commissioner of Income Tax, Delhi Vs. Bharat Carbon and Ribbon Mfg. Co ...

Court : Supreme Court of India

Decided on : Aug-17-1999

Reported in : AIR1999SC3260; 2000(69)ECC238; 1999(113)ELT9(SC); JT1999(6)SC136; 1999(5)SCALE28; (1999)6SCC434; [1999]Supp1SCR492

..... reference of the following two questions by filing an application before delhi high court under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'the act'):1. whether on the facts and in the circumstances of the case the itat was correct in law in confirming ..... have accrued over the accounting period to deduct such sums from profits8. the court after discussing various contentions finally held:expenditure which is deductible for income tax purpose is one which is towards a liability actually existing at the time, but the putting aside of money which may become expenditure on ..... molasses co. (p) ltd v. c.i.t., west bengal : [1959]37itr66(sc) for contending that the expenditure would be deductible for income tax purpose which is towards a liability existing at the time, but putting aside the money may become expenditure on the happening of a event is not expenditure ..... notice was issued in the said assessment year. in respect of subsequent assessment year 1981-82, the claim of the assessee was rejected by the income tax officer on the ground that as the assessee maintains mercantile system of accounting, the claim for earlier years was inadmissible. he further observed that ..... and the answer to the same is self evident in view of the decision of this court in the case of kedarnath jute . v. commissioner of income tax (central), calcutta : [1971]82itr363(sc) . against that order revenue has filed this appeal. it was the case of the assessee-respondent company that .....

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Oct 01 1999 (SC)

Union of India and ors. Vs. S. Muthyam Reddy

Court : Supreme Court of India

Decided on : Oct-01-1999

Reported in : AIR1999SC3881; [1999]240ITR341(SC); JT1999(7)SC596; 1999(6)SCALE305; (1999)7SCC545

..... pradesh in a batch of cases. by that order, the high court considered the effect of a combined reading of sections 2(1a) and 2(14) of the income tax act, 1961 [hereinafter referred to as 'the act'] and has held that (i) capital gains arising from sale of land used for agricultural purposes would be revenue derived from such land and, therefore, 'agricultural ..... article 366(1) of the constitution 'agricultural income' has the same meaning as defined under enactments relating to income tax. there is divergence of opinion amongst the high courts as to the effect of section 2(14)(iii) of the act, as amended by finance act, 1970, and hence the parliament introduced the explanation by finance act, 1989 stating the meaning thereto which is in ..... therefore, the order under appeal cannot be sustained and deserves to be set aside.4. shri dhruv mehta pointed out that by an artificial definition introduced into the act what is agricultural income cannot be treated otherwise. he also sought to explain the scheme of the entries in the different lists of the constitution in support of his contention.5. the ..... income' within the definition under section 2(1a) of the act with the result that parliament would have no legislative competence to tax such agricultural income; and (ii) amended section 2(14)(iii) should be read down to preserve its constitutionality. all land used .....

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Mar 17 1999 (SC)

Commissioner of Income Tax Vs. Gujarat Polycrete Pvt. Ltd.

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : AIR2000SC3509B; [2000]246ITR463(SC); (1999)9SCC235

..... under an incentive scheme framed by it would be treated as actually paid, so as to meet the requirements of section 43b of the income-tax act. notice does not appear to have been taken of the gujarat sales tax act to ascertain whether or not there was such an amendment. a question of law, therefore, clearly arises and it must be considered by the ..... following question.whether the appellate tribunal is right in law and on facts in directing the assessing officer to allow the claim of the assessee in respect of unpaid sales tax if the same was covered by the specific scheme of the gujarat government whereby the deferred payment scheme was converted into interest free loan particularly when the provisions of section .....

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May 11 1999 (SC)

Commissioner of Income-tax Vs. Bhooratnam and Co.

Court : Supreme Court of India

Decided on : May-11-1999

Reported in : [2000]245ITR5(SC)

order1. special leave granted.2. after hearing' counsel for the appellant, we direct the tribunal to state the case and refer the following two questions of law to the high court :1. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in allowing investment allowance under section 32a of the income-tax act, 1961, on the excavator, which was used for excavation of earth at site ?2. whether, on the facts and in the circumstances of the case, the appellate tribunal is correct in holding that the assessing officer cannot verify which machinery was used for contract work in proceedings under section 154 of the income-tax act ?3. accordingly, the appeal is allowed, the order of the high court is set aside and the application under section 256(2) of the income-tax act is allowed.

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