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Judgment Search Results Home > Cases Phrase: income tax act Court: us supreme court Year: 1999 Page 2 of about 196 results (0.081 seconds)

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 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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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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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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May 04 1999 (SC)

Justice Deoki Nandan Agarwala Vs. Union of India (Uoi) and anr.

Court : Supreme Court of India

Decided on : May-04-1999

Reported in : AIR1999SC1951b; 1999(2)LC976(SC)

..... the salaries of high court and supreme court judges and that, therefore, their salaries were not liable to income tax because the definition of 'income' under the income tax act includes 'salary'. the argument really is that the levy of income tax upon salary, by parliamentary enactment cuts down the judges' salaries.5. there can be no doubt that ..... no employer and, therefore, what he receives is not salary; accordingly, what he receives as remuneration is not taxable under the head of salary under the income tax act. to our mind, there is a misconception here. it is true that high court and supreme court judges have no employer, but that, ispo facto, ..... article 221 is not taxable under the head 'salaries', and, if it is so, is it taxable under any other head of income referred to in section 14 of the income tax act, 1961.'2. it appears that the second question arose on a writ petition which stood transferred to this court and which was withdrawn ..... a far cry to conclude therefrom that the salary of a judge is not taxable under the income tax act. the subject of the salary of a high court and supreme court judge and the subject of tax on income are altogether different and the conclusion that is sought to be drawn is quite unacceptable. the ..... for the assessment year 1978-79 on the basis that the salary that he received as a judge was not liable to tax under the income tax act. the contention having been rejected both by the i.t.o. and in appeal, a special leave petition was filed. leave .....

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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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Jul 27 1999 (SC)

Food Corporation of India Vs. Municipal Committee, Jalalabad and Anoth ...

Court : Supreme Court of India

Decided on : Jul-27-1999

Reported in : AIR1999SC2573; [1999]98CompCas824(SC); JT1999(5)SC133; (1999)123PLR530; 1999(4)SCALE282; (1999)6SCC74; 1999(2)LC1282(SC)

..... and may, by that name, sue and be sued. if we refer to section 42 of the act, the corporation is a company within the meaning of the income-tax act, 1961 and liable to tax on its income, profits and gains. however, under section 43, provision of law relating to winding up of companies ..... and that valuation and assessment of the properties has been completed without taking into account the provisions of section 3 of the punjab municipal act under which house tax is to be arrived at on the basis of the 'annual value' on which the properties can be let.3. high court ..... corporation is not a company within the meaning of the definition of that term appearing in clause (e) of section 3 of the land acquisition act. this court also did not accept the argument that corporation is a government department. it said :a government department has to be an organisation which ..... the central government and cannot claim exemption from taxation under article 285 of the constitution. the case of the corporation cannot be any different. the act under which it is constituted specifically makes the corporation a body corporate having the attributes of a company.8. in state of punjab and ors. ..... the division bench of the punjab and haryana high court dismissing its writ petition challenging the order of assessment of its properties under the punjab municipal act by the second respondent, the municipal committee, jalalabad, district ferozpur in the state of punjab.2. it is contended before us that the corporation .....

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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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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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