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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: chennai Year: 2009 Page 1 of about 116 results (0.064 seconds)

Jan 07 2009 (HC)

Tirupur Lorry Urimaiyalargal Sangam Rep. by Its President, C.N. Ramasa ...

Court : Chennai

Decided on : Jan-07-2009

Reported in : (2009)6MLJ1081

..... on which reliance was placed by the learned senior counsel is also of no use to the petitioner. that was a case where notice of reassessment was issued under the income-tax act on the alleged loss of rs. 11,60,29,077/- as escaped assessment and the division bench has held that necessary disciplinary action should be taken against the officials who ..... element of public law is involved, and for the purpose of rendering equity, the writ petition is maintainable. he would also rely upon the judgement in the assistant commissioner of income-tax, co. circle-i, chennai v. apollo hospitals enterprises ltd. : [2008]300itr167(mad) apart from jyoti sanjeev, proprietor, jyoti transport and jay jyoti gas agency, ahmedabad v. bharat petroleum ..... perused the entire records.11. the judgement of the supreme court in style (dress land) v. union territory, chandigarh : air1999sc3678 relates to the capital of punjab (development and regulation) act, 1952 which enables the chandigarh administration to lease out the property. in respect of award of interest on the amount of arrears of rent, the supreme court, while holding that ..... impugned order in one of the writ petitions as rental amount which is disputed by the petitioner sangam. the petitioner sangam is a society registered under the societies registration act. it is stated that the society was constituted for the purpose of transporting essential commodities to the market and other places having public access apart from transporting the exporting .....

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Jan 12 2009 (HC)

Ansaldo Energia Spa Represented by Its Authorised Signatory Mr. Lorenz ...

Court : Chennai

Decided on : Jan-12-2009

Reported in : [2009]310ITR237(Mad); [2009]178TAXMAN57(Mad)

..... foreign entities, the profits attributable to the indian pe on foreign enterprise are required to be computed under normal accounting principles and in terms of the general provisions of the income-tax act. therefore, ascertainment of a foreign enterprise's taxable business profits in india involves an artificial division between profits earned in india and profits earned outside india.14. so in ..... shore components. the authority held that the amount that is receivable from petronet in respect of off shore supply of equipment, materials, etc., is liable to tax in india under the provisions of the income-tax act, 1961. the matter was taken to the supreme court. ....one of the crucial factors that has to be decided relates to passing of title to the ..... be levied. in this case, because of the permanent establishment and business connection, a percentage of the profits on contract fell under section 9 of the income tax act and were held to be 'deemed income'. so the authorities made an estimate of this. the learned senior standing counsel also submitted that the clause in this contract relating to passing of title was ..... , the profits attributable to the indian pe of foreign enterprise are required to be computed under normal accounting principles and in terms of the general provisions of the income-tax act. therefore, ascertainment of a foreign enterprise's taxable business profits in india involves an artificial division between profits earned in india and profits earned outside india. the .....

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Jan 19 2009 (HC)

Commissioner of Income-tax Vs. Jeyabharath Textiles P. Ltd.

Court : Chennai

Decided on : Jan-19-2009

Reported in : [2009]310ITR301(Mad)

..... of rs. 10,10,728 being the amount spent on replacement of one carding machinery deductible as current repairs under section 31 of the income-tax act?2. the facts of the case are as follows:3. the assessee is engaged in manufacture and sale of cotton yarn. for the assessment year ..... k. raviraja pandian, j.1. the appeal is filed by the commissioner of income-tax under section 260a of the income-tax act, 1961, against the order passed by the income-tax appellate tribunal 'a' bench, chennai, dated june 29, 2004, in i.t.a. no. 2489/mds/1996 raising the following questions ..... of law:1. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was ..... revenue expenditure and the depreciation granted was to be withdrawn. aggrieved by the same, the revenue filed an appeal before the income-tax appellate tribunal and the tribunal dismissed the appeal of the revenue. aggrieved by the said order, the present appeal is filed.4. learned counsel ..... the assessing officer disallowed the claim of the assessee and allowed depreciation. aggrieved by the same, the assessee filed an appeal before the commissioner of income-tax (appeals) who allowed the same and held that the addition made by the assessing officer was to be deleted and was to be treated as .....

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Jan 20 2009 (HC)

J. Jayalalithaa Vs. the Assistant Commissioner of Wealth Tax

Court : Chennai

Decided on : Jan-20-2009

Reported in : 2009CriLJ3114; (2009)222CTR(Mad)470; [2009]309ITR277(Mad); [2009]179TAXMAN212(Mad)

..... or proper to adjourn or postpone the hearing of the case pending before the criminal court indefinitely or for an unduly long period. since the provisions of the wealth tax act and the income tax act are in pari-materia with each other the aforesaid decision squarely applies to the facts of this case and therefore the above contentions of the learned senior counsel for ..... .58. in the decision reported in : 2004crilj3362 (prakash nath khanna v. c.i.t.) the apex court while considering section 278-e of the income-tax act which is in pari-materia with section 35-o of the act has held as under:there is a statutory presumption prescribed in section 278-e. the court has to presume the existence of culpable mental state ..... above wherein it has been clearly laid down that a mere expectation of success in some proceeding in appeal or reference under the act cannot come in the way of the institution of the criminal proceedings under the income tax act. in p. jayappan's case in paragraph 6 it has been observed that in an appropriate case the criminal court may adjourn or ..... of the amanded provisions contained in section 2(m) of the act. learned senior counsel himself rightly contended that the income tax act as well as the wealth tax act are self-contained codes and there are several authorities constituted under the said acts clothed with jurisdiction to pass assessment orders and determine the income tax/wealth tax liability of the assessees and as such the criminal court cannot decide .....

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Jan 27 2009 (HC)

Commissioner of Income-tax Vs. S.i. Property Development Ltd.

Court : Chennai

Decided on : Jan-27-2009

Reported in : [2009]313ITR177(Mad)

..... k. raviraja pandian, j.1. the revenue is on appeal under section 260a of the income-tax act, 1961, against the order passed by the income-tax appellate tribunal 'b' bench, chennai, dated july 10, 2003, in i.t.a. no. 415/mds/1996 by formulating the following question of ..... uncalled for. thus, dismissed the appeal filed by the revenue, by observing that no interference is called for with the conclusion reached by the commissioner of income-tax (appeals). the correctness of the same is now canvassed before us.3. we have heard the argument of learned counsel on either side and perused the ..... cent. of the same as estimated profit on contract receipt on the allowable expenditure. against that order, the assessee preferred an appeal before the commissioner of income-tax (appeals), who deleted the disallowance of rs. 17,31,851 made out of head office expenses and with regard to the addition made of 10 per cent ..... allocated, which is only called for from the point of view of project profit, it would have no effect in so far as the determination of income is concerned. if the expenses are to be allocated to the project, then the expenses in the head office would have to be reduced to that ..... materials on record.4. learned counsel appearing for the revenue submitted that the issue involved in this appeal is covered by a judgment of this court reported in cit v. s.i. property development ltd. : [2002]256itr601(mad) .the issue involved in the present case has been formulated as a question of law in .....

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Jan 27 2009 (HC)

Director of Income Tax (Exemption) Vs. Govindu Naicker Estate

Court : Chennai

Decided on : Jan-27-2009

Reported in : (2009)227CTR(Mad)283; [2009]315ITR237(Mad)

..... -04. the original assessment under section 143(3) of the income-tax act was completed on 21.3.1994 on a total income of rs. 5,69,830/-. the assessing officer noted that during the year ended 31.3.1993, the trust had paid a sum of rs ..... utilised as a hostel is entitled to exemption under section 11(1) of the income-tax act.6. heard the argument of the learned counsel on either side and perused the materials on record.7. section 11 of the income-tax act, 1961 grants exemption from the levy of income-tax in respect of the income from the property held for charitable or religious purposes. the section contemplates that ..... maintenance of the property held under trust for charitable purpose would not entitle the trust to exemption of such income under section 11 of the income-tax act has to be considered in the context in which it is stated. if the application of the income resulted in the maintenance of the property held under the trust for charitable purpose, is for the purpose of ..... was right in holding that the repayment of loan taken from the indian bank for construction of commercial complex was application of income for charitable purposes and, therefore, the assessee trust was eligible for exemption under section 11 of the income-tax act?3. the facts of the case are as follows:the assessee is a charitable trust. the relevant assessment year is 1993 .....

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Jan 27 2009 (HC)

Commissioner of Income-tax Vs. Kodanadu Tea Estate Company

Court : Chennai

Decided on : Jan-27-2009

Reported in : [2009]317ITR418(Mad)

..... of the present case. the circular was stated to be issued by invoking the statutory power under section 119 of the income-tax act. the appeal is filed under section 260a of the income-tax act. it is well-settled principle of law that each and every provision of a statute has to be given the same ..... anything contained in any other provisions by assigning overriding effect. hence, the contention that notwithstanding the circular, which was issued under section 119 of the income-tax act, the appeal could be filed by the revenue under section 260a has to be rejected for the reason that if the contention is accepted, one ..... non-consideration of the same would amount to a substantial question of law in an appeal under section 260a of the income-tax act and were entitled to interfere with the finding?4. when the matter is taken up for orders, learned counsel for the respondent/assessee submitted that ..... of the firm and not that of the partners and were to be allowed as a deduction. aggrieved by the decision of the commissioner of income-tax (appeals), the department filed an appeal before the appellate tribunal, which dismissed the appeal of the revenue holding that the reconstitution of the firm ..... importance. one provision cannot be elevated to a higher pedestal than the other provision, of course, unless or otherwise specifically stated either in the scheme, the act or .....

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Feb 09 2009 (HC)

Tvs Finance and Services Ltd., Jayalakshmi Estates Vs. the Joint Commi ...

Court : Chennai

Decided on : Feb-09-2009

Reported in : (2010)228CTR(Mad)546; [2009]318ITR435(Mad)

..... whether it 'represents money lent in the ordinary course of the business of banking or money lending which is carried on by the assessee.' section 36(2)(i) of the income tax act, 1961 reads thus:(2) in making any deduction for a bad debt or part thereof, the following provisions shall apply:(i) no such deduction shall be allowed unless such debt ..... therefore, the provision for bad and doubtful debts is not to be treated as write off of bad debts in part or in full and that the provisions of the income tax act would have to be applied over the rbi norms. the appellant is aggrieved because when the appeal to the tribunal was only made for the restoration of the issue, the ..... charge made as per institute of chartered accountants of india's guidance note is contingent in nature and therefore includible in computing 'book profit' under section 115-ja of the income tax act?in t.c. no. 109 of 2002:(i) whether the provision of rs. 59,35,318 made pursuant to the prudential norms towards non-performing assets (npas) prescribed by the ..... by the directions of reserve bank of india is an allowable deduction under the income tax act?(ii) whether or not chapter iii-b of the rbi act has an overriding effect over other laws inclusive of the income tax act, 1961?(iii) whether order of the income tax appellate tribunal rejecting the appellant's method of accounting income from discounting of bills and holding that the whole of the .....

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Feb 10 2009 (HC)

Pranam Foundations Vs. Assistant Commissioner of Income-tax

Court : Chennai

Decided on : Feb-10-2009

Reported in : [2009]313ITR286(Mad); [2009]185TAXMAN6(Mad)

..... statutory provisions. as the first question of law is framed against the statutory provision with reference to the explanation to section 37(1) of the income-tax act, the same has to be answered against the assessee.6. for the foregoing reasons, we do not find any merit in these appeals and the ..... camouflaged as labour expenses or other construction expenses. further, the tribunal has also taken into consideration the explanation to section 37(1) of the income-tax act, wherein it is stated that any expenditure incurred by the assessee for any purpose which is an offence or which is prohibited shall not be ..... in these appeals, the same is recorded.5. with reference to the first question of law, the tribunal has given reason that the commissioner of income-tax (appeals) failed to note that the cash expenses incurred to an extent of rs. 95,08,500 represent illegal expenditure, which are prima facie ..... turn has questioned the correctness of the order of the commissioner of income-tax (appeals) before the tribunal. thus, the present appeals.4. while in the course of arguments, it is submitted by the learned counsel appearing ..... the block period being illegal expenses accounted for in the books as construction expenses. the assessee carried the matter on appeal before the commissioner of income-tax (appeals) who reduced the same to rs. 15,39,501. the assessee has taken the matter on further appeal. the revenue for its .....

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Feb 16 2009 (HC)

Commissioner of Income Tax Vs. Tirupattur Co-op. Sugar Mills Ltd.

Court : Chennai

Decided on : Feb-16-2009

Reported in : [2009]310ITR360(Mad)

..... section 32ab and having regard to the language employed in the section has observed as follows:the calculations required to be made for the purpose of section 32ab of the income tax act, 1961, are to commence with the figure representing the profits of the eligible business as computed in accordance with the requirements of parts ii and iii of schedule vi to ..... limited reported in : [2008]306itr392(sc) has found as follows:with regard to the question whether the assessee was entitled to exemption under section 80p(2)(a)(i) of the income tax act, 1961, in respect of interest received from the members of the society, we find that none of the authorities below, including the high court, have examined the memorandum of association ..... under section 143(3) on 03.03.1993. while making the assessment, the assessing officer disallowed the assessee's claim for deduction under section 80p(2)(a)(i) of the income tax act in respect of rs. 2,25,770/- being interest received from cane-growers on the ground that the assessee was not engaged in the business of providing credit facilities to ..... members. the assessee was advancing loans to the growers to procure material or its own business.3. the assessing officer also reduced the allowance under section 32ab of the income tax act by excluding from the business income, interest on loans and advances rs. 2,25,770/-, interest on investments rs. 52,147/-, interest on bank deposits rs. 2,20,704/-, previous year's .....

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