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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: mumbai Year: 1999 Page 11 of about 248 results (0.030 seconds)

Aug 04 1999 (HC)

Bharat Forge Co. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Aug-04-1999

Reported in : [1999]240ITR654(Bom); 2000(2)MhLj111

..... ranjana desai, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion, at the instance of the assessee :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that the expenditure incurred on asphalting ..... allowed depreciation at the rate of 5 per cent. he rejected the claim for deduction as revenue expenditure.3. the assessee filed an appeal before the commissioner of income-tax (appeals). the commissioner of income-tax (appeals) held that the assessee had constructed new roads where nothing existed before. therefore, a new asset came into being in the form of pucca roads. he held ..... after these repairs, after every three years the repairs will have to be carried out because these roads do not last for a long time. the inspecting assistant commissioner of income-tax held that the assessee had substantially renovated the roads and hence the expenditure can be classified as a capital expenditure. according to him, the life of these roads would be ..... . the assessee had spent an amount of rs. 10,00,000 on the repairs of the road in the factory premises. it was submitted before the inspecting assistant commissioner of income-tax, pune, that the roads within the factory premises were kaccha roads and the assessee had spent the amount of rs. 10,00,000 for converting them into tar roads. it .....

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Aug 09 1999 (HC)

Commissioner of Income-tax Vs. United Computers Services P. Ltd.

Court : Mumbai

Decided on : Aug-09-1999

Reported in : [1999]240ITR597(Bom)

..... assets including plant and machinery as may be prescribed. reference is also made to rule 5 of the income-tax rules, 1962, which provides, inter alia, that depreciation shall be calculated ..... ranjana desai, j. 1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of the revenue ..... parties to the decision of this court in cit v. paresh s. shah : [1999]238itr254(bom) . in that case this court while dealing with a similar question considered the relevant provisions of law. reference was made to section 32 of the income-tax act which deals with allowable depreciation in respect of ..... and held that the extra-shift allowance on data processing computer system was allowable.5. in the appeal carried to the income-tax appellate tribunal by the revenue, the income-tax appellate tribunal held following its earlier decision that the extra-shift allowance on data processing computer machine is allowable and hence no ..... assessment year is 1980-81. the assessee claimed extra-shift allowance, in addition to allowance of normal depreciation, on the data processing computer system. the income-tax officer held that depreciation at the rate of 20 per cent. is allowed on computer system. however, ho extra-shift allowance is allowable. he, .....

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Aug 11 1999 (HC)

Oil and Natural Gas Commission Vs. Mcdermott International Inc.

Court : Mumbai

Decided on : Aug-11-1999

Reported in : 2000(1)BomCR369

..... herein belonged to the respondentand it was held by the petitioner as a depositee, the finding of the umpire that the amount was paid under section 226(3) of the income tax act shows that the amount lying as credited in favour of the respondent was the respondent's money and this can be only on the basis that it belonged to the ..... . dada, the learned counsel for the petitioners had also submitted that the petitioners' as a representative assessee and as a recipient of a notice under section 276(3) of the income tax act, were bound to make payment of rs. 31,26,684 which was computed on the basis of exchange rate as in 1987. mr. dada further submitted that the petitioners cannot ..... from a manifest error apparent ex-facie as far as claim no. 9 is concerned. it is the finding of the umpire that the income tax department treated the petitioner as representative assessee under section 162 of the income tax act for the assessment year 1986-87 and the deduction was legal and not uncalled for. thus the assessment against the petitioner was in its ..... by it of surtax and informed that the amount was required to be paid pursuant to the notice under section 26(3) of the income tax act. it is thus clear that the money retained in rupees in 1987 towards tax liability of the respondent was credited in the account of the respondent in the books of accounts of the petitioner in rupees. in .....

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Aug 17 1999 (HC)

Commissioner of Income-tax Vs. Datta V. Gaitonde

Court : Mumbai

Decided on : Aug-17-1999

Reported in : [2000]241ITR241(Bom)

..... effect from april 1, 1963. section 5a provides that income from all sources, except from salary should be apportioned equally between the husband and the wife and such ..... the present matter, the statement of the case is not clear as to whether the income in this case is income from profession orincome from salary, the matter is remitted to the tribunal to decide afresh in accordance with the provisions contained in section 5a of the income-tax act, 1961.3. the reference is disposed of accordingly with no order as to costs, ..... reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion, at the instance of the revenue :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that even income from profession or salary earned on employment is ..... 's case confirmed the decision of the commissioner of income-tax (appeals). it is against this background that the present reference is made to this court.2. we have heard learned counsel for the parties. the controversy in this case now stands concluded by the amendment of the income-tax act, 1961, by the finance act, 1994, by insertion of section 5a with retrospective .....

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Aug 17 1999 (TRI)

Assistant Commissioner of Vs. Tribhovandas Bhimji Zaveri

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Aug-17-1999

Reported in : (2000)74ITD92(Mum.)

..... is therefore claimed that the impugned addition of rs. 1,53,02,266 is not warranted. it is also emphasised that the provisions of sections 68, 69 etc., of the income-tax act are not attracted in this case.7. having anxiously considered the rival submissions we are of the view that the department deserves to succeed. the assessing officer has painstakingly enquired ..... also been stated that the i.t. assessment for 1977-78...and the substantive assessment would be made for the assessment year 1986-87 in terms of section 69 of income-tax act, on the ground that the investment in jewellery remained unexplained. the assessee's application for waiver of penalty and penal interest has also not been disposed of. 3. this matter ..... -89.12. in addition to the information collected above, the following information, in respect of the 14 persons examined was collected, through the statement recorded under section 131 of the income-tax act and their i.t. records. it is described as under :- (1) shri gopaldas t. zaveri as individual and huf - shri gopaldas tribhuvandas zaveri is son of shri tribhavandas zaveri, founder ..... 18 persons subsequently sold the jewellery to the assessee-firm, the assessing officer thought it fit to probe further and summoned all the 18 persons under section 131 of the income-tax act and in response to these summons, 14 persons were present and deposed before him, while 4 persons expressed their inability to attend, as they were during the relevant time out .....

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Aug 17 1999 (HC)

Commissioner of Income-tax Vs. Trade Wings Ltd.

Court : Mumbai

Decided on : Aug-17-1999

Reported in : [2000]241ITR198(Bom); [2000]109TAXMAN115(Bom)

counsels: r. v desai with p. s. jetley, for the commissioner ashok n. bhogani with v p. salunkhe and ms. a. mishra, instructed by a. bhogani and co, for the assessee

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Aug 18 1999 (HC)

Mukand Ltd. Vs. Mukand Kamgar Union and anr.

Court : Mumbai

Decided on : Aug-18-1999

Reported in : [2000(86)FLR27]; (2000)ILLJ1569Bom

..... reason that the company is not required of pay tax at the rate of 50%. it has been pointed out by the company that the present corporate tax is 32%. taking into account the permissible deductions under the income tax act in the next 2/3 years the company will be ..... covered by the provisions of section 115-ja of the said act and will pay the only minimum alternate tax (mat). on this basis, the tax rate ..... all relevant factors will have to be taken into account. the principles followed in arriving at the profits and loss account for the income tax and other purposes may not be conclusive. the claim of the employer to a reasonable profit for all the shareholders for a ..... '9. the union also demanded increase in the existing allowances, namely, (i) educational allowance, (ii) leave travel allowance, (iii) washing allowance, (iv) acting allowance, and (v) lunch and snacks allowance. the union further raised a demand, for introducing for the first time pollution allowance and picnic allowance. the union contended ..... relates to: (i) wage scale, (ii) fitment, (iii) special increments, (iv) dearness allowance, (v) education allowance, (vi) lta, (vii) washing allowance, (viii) acting allowance, (ix) lunch and snacks allowance, (x) pollution allowance, (xi) picnic allowance, (xii) fixed allowance in lieu of incentive, (xiii) paid holidays, (xiv) privilege/casual/ .....

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Aug 24 1999 (HC)

G.M. Breweries Ltd. and Another Vs. Union of India and Others

Court : Mumbai

Decided on : Aug-24-1999

Reported in : 2000(2)BomCR160; (2000)2BOMLR308; (2000)161CTR(Bom)33; [2000]241ITR446(Bom); 2000(1)MhLj477

..... required, a fine of uptors. 10,000 may be imposed upon you under section 131(2)ncome tax act, 1961^/37(2)ealth-tax act, 1957^/36(2)ift-tax act, 1958^ of the income-tax act 1961/wealth-tax act, 1957/gift tax act, 1958.1) books of account for the period 1st june, 1993 to 31st march, 94 and ..... required, a fine of upto rs. 500/- may be imposed upon you under section 131(2)ncome tax act, 1961^/37(2)ealth-tax act, 1957^/36(2)ift-tax act, 1958^ of the income-tax act 1961/wealth-tax-act, 1957/gift tax act, 1958.1) sales register for f.y. 93-942) sales bill for f.y. 93-943) ..... 11-94to,the chief executiveg.m. brewereies ltd. s. veer savarkar margvirar (e).whereas your attendance is required in connection with proceedings under the income-tax act/wealth-tax act/gift tax act, in your case/the case of ----- you are hereby required personally to attend my office at ----- thane on 14-11-94 at 11 ..... .m. brewereies ltd. s.veer savarkar marg,virar (e), dist. thane.whereas your attendance is required in connection with proceedings under the income tax act/wealth tax act/gift tax act. in your case, you are hereby required personally to attend my office at thane on 8/8/94 at 11 a.m. to give ..... it is stated in the above summonses that the books of accounts and documents were required in connection with proceedings 'under the income-tax act, 1961/wealth tax act, 1957/gift tax act, 1958'. the case of the petitioners is that the summonses issued are illegal and without jurisdiction because they are issued without .....

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Aug 24 1999 (HC)

indrajit and Co. Vs. Girijan Co-operative Corpn. Ltd.

Court : Mumbai

Decided on : Aug-24-1999

Reported in : [2000]107TAXMAN179(Bom)

..... completely in the realm of legislative wisdom. we hold that what is brought to tax, though levied with reference to the purchase price and at an earlier point, is nonetheless income liable to be taxed under the income tax act. we repel the plea by the assessees to the contrary.'dealing with the challenge ..... j.by this writ petition, the petitioner seeks to challenge the constitutional validity of section 44ac and section 206c of the income tax act, 1961 (hereinafter referred to as 'the act'). the petitioner contends that these two-sections are violative of the fundamental rights of the petitioner contained in article 14 of ..... the charging section, viz., sections 5 to 9 and not by virtue of section 44ac or section 206c. the fact that the income-tax is levied at a flat rate or at an earlier stage will not in any way alter the nature of character of the levy ..... to the validity of sections 44ac and 206c on the ground of violation of article 14 of the constitution, it was observed:'considered in the light of the practical difficulties envisaged by the revenue to locate the persons and to collect the tax ..... and explanatory to section 206c. it does not dispense with the regular assessment as provided in accordance with sections 28 to 43c of the act.3. the above decision of the supreme court squarely covers the controversy of this writ petition. following the same, this writ petition is .....

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Aug 30 1999 (HC)

K. Sudhakar S. Shanbhag Vs. Income-tax Officer

Court : Mumbai

Decided on : Aug-30-1999

Reported in : 2000(1)ALLMR188; [2000]241ITR865(Bom)

..... different high courts on the subject. the supreme court considered the decisions of the various high courts which had held that once valid proceedings under section 147 of the income-tax act are started, the income-tax officer has the jurisdiction and duty to complete the whole assessment de novo. the supreme court considered the observations in its earlier decision in v. jaganmohan rao v ..... years 1987-88 and 1988-89 on the basis of the returns submitted by him pursuant to the notices under section 148 of the income-tax act, 1961 ('the act'), and to refund the amount paid by him as advance tax which, according to him, is in excess of the amount due as per the returns submitted pursuant to the said notices. the contention of ..... the returns the petitioner claimed assessment at a figure lesser than the one disclosed by him for the purpose of advance tax, which by virtue of section 219 is treated as tax paid on the income of that year. section 219 of the income-tax act reads as follows :'any sum, other than a penalty or interest paid by or recovered from an assessee as advance ..... reopened by issuance of a notice under sub-section (2) of section 22 of the indian income-tax act, 1922 (corresponding to section 148 of the act), the previous under assessment is set aside and the income-tax officer has the jurisdiction and duty to levy tax on the entire income that had escaped assessment during the previous year. the supreme court observed that an order made in .....

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