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Judgment Search Results Home > Cases Phrase: income tax act Court: us supreme court Year: 1999 Page 3 of about 196 results (0.080 seconds)

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 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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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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Mar 23 1999 (SC)

Premier Cable Co. Ltd. Vs. Commissioner of Income Tax, Cochin

Court : Supreme Court of India

Decided on : Mar-23-1999

Reported in : AIR1999SC1232; [1999]237ITR202(SC); JT1999(2)SC504; 1999(2)SCALE334; (1999)3SCC367; [1999]2SCR143

..... whereof commended on 1st april, 1974 and ended on 30th september, 1975, was made after the procedure under section 144b of the income tax act, 1961, had been followed. the order of assessment was reopened by the commissioner of income tax under section 263(1). the commissioner took the view that the assessment order was erroneous and prejudicial to the interest of the revenue ..... in the circumstances of the case, was the tribunal right in holding that the commissioner of income tax had jurisdiction under section 263 of the income tax act to revise the order of the income tax officer passed after obtaining directions from the inspecting assistant commissioner under section 144b of the act ?(ii) whether on the facts and in the circumstances of the case, was the appellate ..... preceding the assessment year: and to the provisions of section 4 which deals with the charge of income tax and reads thus:charge of income-tax.4(1) where any central act enacts the income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject ..... previous year of every person:provided that where by virtue of any provision of this act income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly.(2) in respect of income chargeable under sub-section (1), income-tax shall be deducted at the source or paid in advance, where it is so .....

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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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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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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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Dec 15 1999 (SC)

The Commissioner of Income Tax, Madras Vs. M/S. Sundaram Spinnings Mil ...

Court : Supreme Court of India

Decided on : Dec-15-1999

Reported in : AIR2000SC490; [2000]241ITR350(SC); JT1999(10)SC32; 1999(7)SCALE515; (2000)1SCC466; [1999]Supp5SCR365

..... in the manufacture of yarn on the ground that its manufacturing product, viz., 'yarn' falls under item no. 21 of ninth schedule to the income tax act, 1961. the view of the assessing authority as supported by the inspecting assistant commissioner was that the manufacture of cotton yarn did not amount to manufacture ..... works p. ltd. : [1980]125itr331(cal) , the high court was called upon to interpret item no. 33 of the fifth schedule under the income tax act, 1961. the question was, whether the assessee would be entitled to higher rate of development rebate under section 33(1)(b)(b)(i) on the ..... j.1. this appeal challenges the decision of the madras high court in reference under section 256(1) of the income tax act, 1961, in which the following question was referred by the income tax appellate tribunal at the instance of revenue which was adjudicated against it.whether, on the facts and in the circumstances of ..... shalimar rope works p. ltd. : [1980]125itr331(cal) , where item nos. 32 and 33 of the fifth schedule of the income tax act were considered, upheld the order passed by the first appellate authority. revenue, therefore, sought for reference of the aforesaid question to the high ..... are manufactured and since in item no. 21, word 'textile' is used, manufacture of yam is not covered under item no. 21. the commissioner of income tax (appeals) upheld the order of assessing authority and held 'yarn' is covered under item no. 21 thus assessee is entitled for the grant of higher rate .....

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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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