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Judgment Search Results Home > Cases Phrase: income tax act Court: supreme court of india Year: 1999 Page 7 of about 188 results (0.251 seconds)

Jan 12 1999 (SC)

S.S.M. Brothers (P) Ltd. and ors. Vs. Commissioner of Income Tax (Cent ...

Court : Supreme Court of India

Decided on : Jan-12-1999

Reported in : (2000)161CTR(SC)177; [2000]243ITR418(SC); (1999)3SCC229

..... -product of the assessee could be described as 'textile otherwise processed' within the meaning of item no. 32 of the schedule v of the income-tax act, 1961.3. the high court took the contrary view. it said that the operations that were carried on by the assessee on the cloth purchased by it were not in ..... the conclusion that the asses-see was entitled to the benefit of development rebate at an enhanced rate under the provisions of section 33(1)(b)(b)(i) of the income-tax act, 1961. it said that the mere fact that the assessee started with basic cloth would not bar the assessee from being entitled to the higher development rebate because the end ..... or production of any one or more of the articles or things specified in the list to the fifth schedule.5. item no. 32 of the fifth schedule to the act reads thus :textiles (including those dyed, printed or otherwise processed) made wholly or mainly of cotton, including cotton yarn, hosiery and rope.6. when both provisions are read together this ..... order1. these appeals by special leave impugn the correctness of the view taken by a division bench of the high court at madras in tax case no. 146 of 1979 (see : [1985]155itr794(mad) and followed in tax case no. 140 of 1980. the questions before the high court were (page 796) :(1) whether, on the facts and in the circumstances of the .....

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Feb 11 1999 (SC)

Commissioner of Income Tax, Agra Vs. Purwar General Mills

Court : Supreme Court of India

Decided on : Feb-11-1999

Reported in : [2000]243ITR877(SC); (1999)9SCC256

..... lata is benamidar of bigger hindu undivided family ?4. the tribunal rejected the application. the revenue filed an application under section 256(2) of the income-tax act. the high court held that no statable questions of law arose in the case and rejected the application of the revenue. it is that order which is ..... not necessary that such member should be a karta and that member should not be treated as benamidar within the ambit of section 185 of the income-tax act as it stood then. hence, the tribunal held that registration could be granted inasmuch as prem lata as an individual was shown to be a partner ..... challenged in this appeal by the commissioner of income-tax.5. in the facts and circumstances of the case, the questions raised by the revenue are not questions of law. even the framing of the ..... that there could not be a smaller hindu undivided family within the larger undivided family when there was no partition as such. in that view, the income-tax officer refused grant of registration. that order was confirmed on appeal by the appellate assistant commissioner.2. on further appeal, the tribunal opined that in the ..... 1980. the deed showed three partners, one of them being prem lata, wife of om prasad purwar, each partner having l/3rd share. the income-tax officer took the view that prem lata representing a hindu undivided family could not do so as she could not claim to be the manager of .....

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Mar 11 1999 (SC)

Commissioner of Income Tax Vs. Relish Foods

Court : Supreme Court of India

Decided on : Mar-11-1999

Reported in : (1999)152CTR(SC)500

..... 's business involves ,`production'?(ii) the assessee is entitled to exemption under section 80 hh of the income tax act, 1961?'2. the assessee claimed the allowance under section 80 hh of the income tax act, 1961, on the ground that it was an industrial undertaking that manufactured/ produced articles. it would appear ..... in sterling foods (supra) has been rightly applied by the bombay high court, in the case of cit v. sterling foods (goa) , to a claim under section 80 hh of the income tax act and it has been held that the activity of processing of prawns is not an activity of manufacture ..... from the judgment of the tribunal that 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 ..... supra) that marwell sea foods has placed before the taxing authorities a detailed description of the process by which prawns were prepared for export and that the appellate authorities had understood the various stages ..... buying and processing of shrimps involved production and, therefore, the assessee was entitled to the allowance that it claimed. it followed its judgment in cit v. mar well sea foods .4. we find from the judgment of the kerala high court in the case of marwell sea foods ( .....

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Mar 18 1999 (SC)

Commissioner of Income Tax Vs. Sirpur Paper Mills, Etc.

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : (1999)153CTR(SC)89

..... against the judgment in hyderabad asbestos cement products ltd. was dismissed on a technical ground, we have heard these appeals on their merits.5. section 36(l)(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(l) the deductions provided for in the ..... of deduction of certain contributions:in exercise of the powers conferred by clause (iv) of sub-section (1) of section 3 6 of t he 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 ..... five years it was an aggregated amount of rs. 2,14,785, calculated on the basis of 25 per cent of the employees' dues on account of past service. the income tax officer allowed the deduction only to the extent of 80 per cent of the aggregate contribution and spread it out over a period of five years. for so doing, he ..... under the head 'salaries' or to the contributions or to the number of members of the fund.'6. rules 87 and 88 of the income tax rules, 1962 are relevant. they read thus:'87. ordinary annual contributions -the ordinary annual contribution by employer to a fund in respect of any particular employee shall not exceed twenty- .....

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Apr 15 1999 (SC)

Commissioner of Income Tax Vs. Sterling Food, Mangalore

Court : Supreme Court of India

Decided on : Apr-15-1999

Reported in : (1999)153CTR(SC)439

..... , 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 ..... then answered the question against the assessee sterling foods v. cit . the assessee had not carried the matter further. ordinarily, therefore, the division bench hearing ..... 1979-80. both the amendments have been effected from 1962-63 and, therefore, in 1979-80, the income received from the government 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 ..... or sell the same to others. it sold the import entitlements that it had earned to others. its total income for the aforementioned assessment years included the sale proceeds for such import entitlements and it claimed relief under section 80hh of the act in respect also of the sale proceeds of the import entitlements.section 80hh, so far as it is relevant .....

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Mar 17 1999 (SC)

Commissioner of Income Tax Vs. Kasturi and Sons Ltd.

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : AIR1999SC1275; (1999)153CTR(SC)1; [1999]237ITR24(SC); JT1999(2)SC272; 1999(2)SCALE75; (1999)3SCC346; [1999]1SCR1207

..... following question:'whether, on the facts and in the circumstances of the case, there was any profit assessable under section 41(2) of the income tax act, 1961 by the insurance company exercising its option under the policy to replace the damaged aircraft with an aircraft of same make and type ..... was completed on 31-1-1972 was reopened by the income tax officer under section 147(b) of the income tax act (hereinafter referred to as 'the act'). in the reassessment proceedings, the income tax officer applied the provisions of section 41(2) of the act and worked out the profits at the difference between the ..... , so much of the excess as does not exceed the difference between the actual cost and the written down value shall be chargeable to income-tax as income of the business or profession of the previous year in which the moneys payable for the building, machinery, plant or furniture became due:'the ..... -matter of the contract remained one for payment of money which would attract the provisions of section 41(2). consequently, the order of the income tax officer as affirmed by the appellate authority was upheld by the tribunal.5. at the instance of the assessee, the matter was referred to ..... assessee under the policy of insurance and, thus, the provisions of section 41(2) were not attracted. aggrieved by the order of the income tax officer, the assessee preferred an appeal before the appellate assistant commissioner who took the view that explanation to section 41(2) read with explanation to .....

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Mar 24 1999 (SC)

Commissioner of Income Tax Vs. Venkateswara Hatcheries (P) Ltd.

Court : Supreme Court of India

Decided on : Mar-24-1999

Reported in : (1999)153CTR(SC)105

..... by the assessee comes 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 ..... 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'.14. 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 tax act ..... 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 ..... total income by virtue of omitted section 10( .....

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Apr 13 1999 (SC)

Surana Steels (P.) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Apr-13-1999

Reported in : (1999)153CTR(SC)193

..... this court. the routes through which the different matters travelled up to the high court were different. some were reference applications under section 256(1) of the income tax act, 1961 (hereinafter referred to as 'the act') and some were writ petitions filed before the high court. all the matters have stood disposed of consistently with the view taken by the division bench of ..... turning around the corner. the finance minister introduced an amendment during the passage of the finance bill and said :-'the finance bill inserts a new section 115j in the income tax act, 1961, to levy a minimum tax on book profits of certain companies. representations have been received that in computing book profits for the purpose of determining the minimum ..... 5. the relevant provisions to the extent relevant for the purpose of this order are extracted and re-produced hereunder : -the income tax act, 1961115j. special provisions relating to certain companies- (1) notwithstanding anything contained in any other provision of this act, where in the case of an assessee being a company (other than a company engaged in the business of generation or ..... reason to assign to the term 'loss' as occurring in section 205, proviso clause (b) of the companies act a meaning different from the one in which it is understood there solely because it is being read along with section 115j to the income tax act.11. section 115j, explanation clause (iv), is a piece of legislation by incorporation. dealing with the subject, .....

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Feb 04 1999 (SC)

Commissioner of Income Tax Vs. Sugauli Sugar Works (P) Ltd.

Court : Supreme Court of India

Decided on : Feb-04-1999

Reported in : (1999)152CTR(SC)46

..... paid back and he included a sum of rs. 2,56,529 under section 41 of the income tax act (hereinafter referred to as `the act') in the total income of the assessee. the assessee went on appeal before the appellate assistant commissioner and the order of the income tax officer was confirmed. the assessee carried the matter to the tribunal. the tribunal accepted the contention of ..... liability by way of remission or cessation thereof, the amount obtained by him, shall be deemed to be profits and gain of business or profession and accordingly chargeable to income-tax as the income of that previous year, whether the business or profession in respect of which the allowance or deduction has been made in existence in that year or not.'3. it ..... could not be permitted to turn round when the question of inclusion of such amount in his income under section 41 (1) of the act arose. the bench distinguished the judgment in kohinoor mills co. ltd. v. cit , by observing that there was no cessation of liability in that case despite the expiry of period of limitation to enforce the same. the bench ..... the assessee and held that its unilateral entry in the accounts transferring the amount to the capital reserve account would not bring the matter within the scope of section 41 of the act and consequently held in favour .....

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Feb 25 1999 (SC)

T. A. Vs. Trust Alleppey V. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Feb-25-1999

Reported in : (1999)152CTR(SC)439

..... in holding that the assessment for the years 1973-74 and 1974-75 on the trustees had to be made in accordance with the provisions of section 161 of the income tax act, 1961 ?'the question aforementioned relates to the assessment years 1973-74 and 1974-75. (similar questions for subsequent years were answered similarly and are the subject-matter of the connected ..... rejected the claim that the assessee should be assessed as a representative assessee within the meaning of section 161(l) of the income tax act, 1961 (hereinafter referred to as 'the act') because he found that the trust created by the trust deed was invalid. (similar assessments were made for subsequent years.) the appellate assistant commissioner allowed the assessee's appeal and ..... the provisions of the trust deed which we have quoted, concluded that all were the same persons. it then referred to the provisions of section 7 of the indian trusts act, 1882 and held that they were mandatory insofar as they spoke of the persons qualified to create a trust. thereunder, a trust created by or on behalf of a minor ..... deed to arrive at a contrary conclusion was justified.9. our attention was drawn by the learned counsel for the assessee to the judgment of the gujarat high court in cit v. motilal hirabhai spg. & wvg. co. ltd. , where it was stated:it is well-settled that if evidence is allowed to be let in without any objection, it would not .....

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