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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: kerala Year: 2012 Page 1 of about 72 results (0.026 seconds)

Jan 02 2012 (HC)

The Commissioner of Income Tax CochIn Vs. Pushpa Vijoy and Another

Court : Kerala

Decided on : Jan-02-2012

..... deposits in banks entitling them for interest on deposits which was periodically credited by the bank in the deposit account. as required under section 194a of the income tax act, the banks recovered tax at source on the interest credited in the deposit account of the respondents-assessees and issued tds certificates to the respondents. though the respondents did not return ..... through the order of the tribunal, what we notice is that though the tribunal has referred to section 199 of the income tax act, they have not considered the scope of the provisions in detail. section 199 of the income tax act has undergone various changes and for reference, we extract hereunder the section as it stood during the relevant assessment years, i ..... section 143(1) of the income tax act wherein the assessee is entitled to credit of tax paid directly or indirectly including payments made by payers who recovered tax and remitted the same under the provisions of chapter xvii of the income tax act. however, section 143(1) of income tax act is subject to section 199 of the act which specifically provides that tax has to be credited based ..... counsel appearing for the respondents referred to the findings of the tribunal with specific reference to section 143(1) of the income tax act and contended that the assessee is entitled to get credit for all payments of tax including tax recovered at source and remitted by the payers in the assessment year following the previous year in which such payment is made .....

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Jan 03 2012 (HC)

Oil Palm India Limited, Represented by Its Managing Director Vs. Assit ...

Court : Kerala

Decided on : Jan-03-2012

..... that filed returns under the agricultural income tax act and remitted tax on income treating the entire income from the sale of palm oil as agricultural income. after reopening of the assessments for the years 1997-98 to 2001-02 the income tax department proceeded to make regular assessments under the income tax act for subsequent years also on that part of the income which is business income from palm oil applying rule 7 ..... assessments for all assessment years in line with the assessments completed by the first respondent under central income tax act and assess only so much of the income attributable operations under the ait act. excess tax if any paid under the ait act should be refunded to petitioner. 7. petitioner will remit tax to the central income tax department for the assessment years 2005-06 onwards based on the central ..... crude palm oil earned by the petitioner to be assessed as 100% agricultural income by the agricultural income tax authorities of the state of kerala. for the first time in 2004 the assessing officer under the income tax act proposed to reopen the assessments completed under the act for bringing to tax, business income from palm oil for the assessment years 1997-98 to 2001-02. however for these .....

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Jan 05 2012 (HC)

The Commissioner of Income Tax, Kottayam Vs. Jose Kuruvinakunnel, Kott ...

Court : Kerala

Decided on : Jan-05-2012

..... all the assessment years. 2. the officer issued notice after recording reason for reopening of the assessment under section 148(2) of the income tax act as follows:- the declared income for income tax purposes of the assessee is remuneration and interest on capital from the firm m/s. mayoora hotel, poovarani. the investigation wing of the i.t. dept. made detailed enquiries ..... reasons the assessing officer completed income escaping assessments under section 147 of the act for the assessment years 1996-97 to 2000-01. it is to ..... c.n. ramachandran nair, j. 1. these are connected appeals filed under section 260a of the income tax act, two appeals filed by the revenue and three appeals filed by assessee relating to the assessment of escaped income of the assessee completed under section 147 for the years 1996-97 to 2000-2001. while the original assessment for the year 1996-97 was a ..... the construction of the residential building, purchase of landed property. the income offered for assessment is only very meager and do not commensurate with the investments made. for these reasons, i have reason to believe that income chargeable to tax has escaped assessment within the meaning of section 147 of the income tax act, 1961. issue notice u/s. 148. 3. based on identical .....

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Jan 10 2012 (HC)

The Commissioner of Income Tax, CochIn Vs. M/S. Bimbis South Star, Ern ...

Court : Kerala

Decided on : Jan-10-2012

..... two assessees, one by name m/s.bimbis south star and the other by name m/s.khyber foods, both assessed based on search conducted under section 132 of the income tax act. even though there is only one assessment, the two appeals happened to be filed in the case of two assessees only because both the revenue as well as the assessee ..... the same telephone number 382357, which intrinsically prove that all the concerns are owned and managed by same party, though under separate group names and concerns for the purpose of income tax benefits. on going through the tribunal's order we notice that tribunal has taken only one line from the warrant wherein the premises to be searched is stated as bimbis ..... of group concerns with names of the assessees separately stated therein. senior counsel for revenue has relied on division bench decision of this court in jose cyriac vs. commissioner of income tax reported in (2011) 336 itr 241 wherein this court reversed the said order of the tribunal relied on by them in allowing the assessee's claim in these cases. since .....

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Jan 11 2012 (HC)

T.P. Abdulla Vs. the Assistant Commissioner of Income Tax, Central Cir ...

Court : Kerala

Decided on : Jan-11-2012

..... required. 2. the assessee, a partner of a roller flour mill, filed his return of income for the assessment year 2005-06, which was processed under section 143(1)(a) of the income tax act (for short the act). on the case of the assessee being taken for scrutiny, notice was issued under section 143 ..... (2) of the act and the cash flow statement submitted by the assessee for the period 01.04 ..... offered by the assessee is not satisfactory in the opinion of the assessing officer, then the sum so credited is to be charged to income tax as the income of the previous year. the expression the assessee offers no explanation was also held to mean the absence of any proper, reasonable and ..... assessee is not satisfactory and the source of the receipt of loans having been not proved, the same is liable to be treated as undisclosed income of the assessee. on first appeal by the assessee, the first appellate authority, based on the confirmation letters of the creditors, held that there ..... ample opportunity to produce the said documents before the assessing officer as also the two appellate forums, which constitute the fact finding authorities under the act. the tribunal of facts having confirmed the finding of the assessing officer that the assessee has not explained the receipts satisfactorily, there is no .....

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Jan 17 2012 (HC)

The Commissioner of Income Tax, Kozhikode Vs. M.N. Saidalavi, Meduvil ...

Court : Kerala

Decided on : Jan-17-2012

..... block assessment for assessment years 1989-90 to 1999-2000 was completed against the assessee consequent to a search under section 132 of the income tax act. the assessment was completed determining undisclosed income of rs.1.07,96,410/-. in the cash flow statement for the year ended 31.3.1997 a receipt of rs.5 ..... by the department answering the first question in favour of the revenue, sustaining the assessment of rs.5 lakhs received on sale of debris as business income and not capital gains. the issue projected in question no.2 and 3, we refuse to answer since the said issues, as noticed earlier, does ..... though a solitary incident would come within the term of business and would be assessable as business income. the short term capital gains assessed to tax without any deduction would be as good as an assessment of business income especially so, since the rates are the same. in such circumstances, we are constrained to set ..... aside the order of the tribunal with respect to the deletion of tax assessed on rs.5lakhs being sale of debris. 4. the other deletion ..... lakhs was shown as profit on sale of debris to explain the source for investment. the same was brought to tax for the assessment year .....

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Jan 18 2012 (HC)

N. Parameswaran, Muvattupuzha, Vs. the Commissioner of Income Tax, Coc ...

Court : Kerala

Decided on : Jan-18-2012

..... is submitted, i find that even the second application made by the petitioner invoking both section 190 (2) as also 220 (2a) of the income tax act was considered by the chief commissioner and the latter prayer was again rejected for non co-operation evidenced by default in making payment. it was after ..... in which no return was filed. for the subsequent years due to non co-operation of assessee, assessment was completed under section 144 of the income tax act. the assessment as such is not the subject of challenge in the above writ petition and the petitioner claims only waiver of interest levied under ..... first respondent for waiver under section 220 (2a) of the income tax act. the petitioner was a stock broker and on the claim that he had no sufficient income for the years 1990-91 and 1991-92, did not file any return of income. for the assessment year 1992-93, the petitioner filed returns ..... two unsuccessful attempts that the petitioner again approached the commissioner of income tax by ext.p5 which was again rejected on the ground of non co-operation by ext.p6. in my opinion, the power conferred under section ..... the invocation of the powers under section 220 (2a). i find that the petitioner had approached the commissioner of income tax invoking powers under section 220 (2a) of the act with an earlier petition which was rejected by ext.p2 finding that the petitioner has not paid the amounts demanded as .....

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Jan 19 2012 (HC)

Shahina Babu, West Mumbai Vs. the Chief Commissioner of Income Tax, Co ...

Court : Kerala

Decided on : Jan-19-2012

..... 1. petitioner made an application seeking waiver of interest as provided under section 220(2a) of the income tax act (in short 'the act'). that application was considered and by ext.p8 order, waiver to the extent of 50% of the interest due, has been granted. ..... proceeding for the recovery of any amount due from him. 4. in gtn textiles ltd. v. deputy commissioner of income tax and another (217 itr 653 [ker] ) and dr.k.parameswaran nair v. assistant commissioner of income tax and another (245 itr 210 (ker), relied on by the learned counsel for the revenue, it has already ..... counsel appearing for the petitioner who mainly contends that although the petitioner has satisfied the three conditions laid down in section 220(2a) of the act, the commissioner has acted illegally in denying full benefits. however, having gone through ext.p8 order and the provisions contained in section 220(2a), i am unable to ..... that the commissioner has found the petitioner eligible for the benefit of section 220(2a) of the act and having regard to the fact that the petitioner has various assets in her name and also has many income there from, the commissioner has not satisfied that the petitioner was eligible for the full waiver. ..... of the demand. it is also seen that the default in payment of tax on which interest under section 220(2) was charged was due to liquidity problem as the legal heir did not have a regular source of income to cover all the liabilities including upkeep and maintenance of the family. at .....

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Feb 08 2012 (HC)

The Commissioner of Income Tax, Kottayam Vs. Thomas Kurian, (Deceased) ...

Court : Kerala

Decided on : Feb-08-2012

..... . counsel for the respondent raised an objection that appeals are not tenable because the amounts of deduction and the tax involved with respect to the claim under section 80-o of the income tax act is below one lakh for both the years and under the norms prescribed by the cbdt, department cannot file ..... c.n. ramachandran, j. 1. these are appeals filed by the revenue under section 260(a) of the income tax act raising two issues arising from orders of the income tax appellate tribunal disposing of assessment appeals of the assessee for the assessment years 1996-97 and 1997-98. respondent ..... appeal on such issues. however, senior counsel appearing for the appellant submitted that appeals were filed on two issues and the combined tax effect is much more ..... export premium received. this issue stands decided by the supreme court in favour of the assessee and against the revenue in the case commissioner of income tax v. baby marine exports reported in 290 itr 323. therefore, following the judgment of the supreme court, we answer the issue in favore of ..... 2008) 172 taxman 236, commissioner of income tax v. inchcape india p. ltd., reported in (2005) 143 taxman 234, commissioner of income tax v. eicher consultancy services ltd., reported in (2008) 167 taxman 64 and also clause 3 of the explanation under section 80-o of the act. it is contended that service rendered .....

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Feb 08 2012 (HC)

The Commissioner of Income Tax, CochIn Vs. M/S. Choice Trading Corpora ...

Court : Kerala

Decided on : Feb-08-2012

..... . relish foods (237 itr 59) wherein it is held that processing of shrimps and prawns does not involve manufacture or production of article entitling deduction under section 801 of the income tax act. we, therefore, allow the appeals on this issue by reversing the orders of the tribunal and that of the first appellate authority and restore the disallowance made in assessment. 5 ..... in any way advances the business interest of the assessee. so much so, the commercial expediency pleaded by the respondent does not stand proved. section 36(1)(iii) of the income tax act provides for allowing interest on funds borrowed for business purposes. unless it is established that the funds were atleast indirectly used for business purpose or for promotion of business, assessee ..... the assessee was engaged was processing of fish which did not come within manufacture or production of any article or thing entitling assessee for deduction under section 801 of the income tax act. counsel for the revenue relied on decisions of the supreme court in sterling foods vs. the state of karnataka reported in 63 stc 239 and in commissioner of ..... ramachandrannair, j. 1. these are appeals filed by the revenue under section 260a of the income tax act raising various questions of law arising from orders of the income tax appellate tribunal pertaining to respondents assessments for the assessment years 1994-95 to 1996-97 and 1998-99. we have heard senior counsel sri.p.k.r.menon appearing .....

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