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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: mumbai Year: 1999 Page 6 of about 248 results (0.043 seconds)

Apr 13 1999 (HC)

Glaxo India Ltd., a Pharmaceutical Company Vs. Mr. C. Gupta and Anothe ...

Court : Mumbai

Decided on : Apr-13-1999

Reported in : 1999(2)ALLMR482; 1999(3)BomCR401; (1999)2BOMLR758; [1999(82)FLR389]; (1999)IILLJ718Bom; 1999(2)MhLj410

..... in respect of receiving compensation as described on the date of the incident.29. dealing with the liability of the insurance company and the motor vehicles act (old act) when it was raised from rs. 20,000/- to rs. 50,000/- in paragraph 6 of : [1982]3scr244 in the case of ..... employer to criminal proceedings merely because of the amendment. it is an accepted position that unless there is a specific provision in the amending act, the amendment giving rise to criminal-prosecution could not be retrospective. every one is supposed to be law abiding. what was not an offence ..... the submission is that unlike general law on arising of the cause of action, the person aggrieved cannot move the court immediately. as the act has been brought about for investigation and settlement of industrial disputes, unless the dispute which has arisen is referred for adjudication the court dealing ..... clerical or supervisory work for hire or reward, whether the terms of employment be express or implied, and for the purpose of any proceeding under this act in relation to an industrial dispute, include any such person who has been dismissed, discharged or retrenched in connection with, or as a consequence of, ..... in the matter therefore is whether the employee is a workman or not. the amended definition contained in section 2(s) of the i.d. act is reproduced hereunder for ready reference.'workman' means any person (including ah apprentice) employed in any industry to do any manual, unskilled, skilled, technical .....

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Apr 15 1999 (HC)

Commissioner of Income-tax Vs. Dawn Mills Co. Ltd.

Court : Mumbai

Decided on : Apr-15-1999

Reported in : [2001]247ITR552(Bom)

1. by this reference the following question of law has been referred for the opinion of this court under section 256(1) of the income-tax act, 1961, at the instance of the revenue : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the gratuity liability determined on actuarial valuation for the period prior to march 31, 1972 ?'2. mr. r. v. desai, learned counsel for the appellant, states that the controversy in the above question is covered in favour of the assessee by the decision of this court in cit v. tata hydro electric supply co. lid. : [1996]219itr178(bom) .3. in view of the above statement and following the ratio of the above decision, the question referred to us is answered in the affirmative, i.e., in favour of the assessee and against the revenue.4. reference stands disposed of accordingly with no order as to costs. certified copy expedited.

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Apr 19 1999 (HC)

M. Sreenivasulu Reddy and ors. Vs. Kishore R. Chhabria and ors.

Court : Mumbai

Decided on : Apr-19-1999

Reported in : [2002]109CompCas18(Bom)

..... '.115. with respect to the purposive approach towards interpretation, mr. doctor relied upon the judgment of the supreme court in rao bahadur ravulu subba rao v. cit : [1956]30itr163(sc) , wherein in the context of the income-tax act, the court observed in para. 10 of the judgment that to bring about true interpretation one had to see (p. 612) : 'the character of the ..... in their pleadings. mr. nariman thereafter referred to the observations of the supreme court in the case of cit v. east coast commercial co. ltd. : [1967]63itr449(sc) , which was particularly in the context of acting in concert with respect to the complaint under the income-tax act and the supreme court has held that (p. 457): 'it is sufficient, if having regard to their ..... difficult to come by. he relied upon a judgment of the supreme court in the case of cit v. east coast commercial co. ltd. : [1967]63itr449(sc) , in the context of section 23a of the indian income-tax act, 1922, wherein the question was whether kedia family had acted in concert to control the affairs of the concerned company. in the facts of that case ..... , there was no evidence of any overt act showing that they were acting in concert and thereby constituted and acted as a block. the supreme court allowed the appeal .....

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Apr 20 1999 (HC)

Commissioner of Income-tax Vs. Amritaben R. Shah

Court : Mumbai

Decided on : Apr-20-1999

Reported in : [1999]238ITR777(Bom)

..... opinion at the instance of the revenue :'whether, on the facts and in the circumstances of the case, the assessee was entitled to deduction under; section 57(iii) of the income-tax act for the assessment years 1976-77 to 1978-79 of interest on the loans raised by the assessee for acquiring shares in raval tiles and marbles pvt. ltd., with an ..... assessment years 1976-77, 1977-78 and 1978-79, the assessee claimed deduction under section 57(iii) of the income-tax act, 1961 ('the act'), of the interest paid by her on the loan obtained for acquiring the shares in the above company. the income-tax officer disallowed the claim of the assessee as, according to him, the loan taken by the assessee for the purchase ..... above company with a view to acquiring controlling interest therein and hence the interest paid thereon was not allowable as a deduction under section 57(iii) of the act. the assessee appealed to the income-tax appellate tribunal ('the tribunal'). before the tribunal, it was contended on behalf of the assessee that though the ultimate motive of the assessee might have been to ..... opinion that in such a situation, the interest on money borrowed for purchasing shares was not allowable as a deduction under section 57(iii) of the act. the assessee appealed to the appellate assistant commissioner of income-tax. the appellate assistant commissioner held that the assessee, her husband and her father-in-law, who were not having any interest in the said company .....

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Apr 21 1999 (HC)

Commissioner of Income-tax Vs. R. Shroff Consultants P. Ltd.

Court : Mumbai

Decided on : Apr-21-1999

Reported in : (1999)155CTR(Bom)557; [1999]238ITR1018(Bom)

..... september 30, 1979, relevant to the assessment year 1980-81, the assessee company acquired a computer and claimed investment allowance under section 32a of the income-tax act, 1961 (the 'act'), in respect thereof. the income-tax officer rejected this claim of the assessee on the ground that there was no manufacturing activity undertaken by the assessee and hence the assessee was not ..... ', was an industrial undertaking for the purpose of manufacture or production of any article or thing as envisaged by section 32a(2)(b)(iii) of the income-tax act, 1961, and is entitled to 'investment allowance' in the assessment year 1980-81 ?'2. the assessee is a private limited company and carries on the business of 'business ..... b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, at the instance of the revenue, the following question of law has been referred by the income-tax appellate tribunal to this court for opinion :'whether, on the facts and in the circumstances of the case, the asses-see-company having business of 'business consultants ..... entitled to investment allowance under section 32a of the act. the assessee appealed to the commissioner of income-tax (appeals). before the commissioner of income-tax (appeals), it was contended by the assessee that its business activity as consultants involved processing of data for drawing up statements of .....

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Apr 29 1999 (HC)

Bhupen Champaklal Dalal Vs. Sandeep Kapoor and anr.

Court : Mumbai

Decided on : Apr-29-1999

Reported in : [2001]248ITR827(Bom)

..... is cited, viz.. p. jayappan v. s. k. perumal, first ito : [1984]149itr696(sc) . it was dealing with initiation of the criminal proceedings under sections 276c and 277 of the income-tax act read with sections 193 and 196 of the indian penal code. the apex court held that even though reassessment proceedings are pending, the department is free to institute criminal proceedings ..... p.s. patankar, j.1. leave to amend.2. the prosecution is launched against these applicants under sections 276c(1)(i), 277 and 278b of the income-tax act, 1961. this is for wilful evasion of tax and making false statements in the verification knowingly. this was done as a director of the company and by the company. in criminal application no. 610 of ..... 1999, prosecution is also launched under section 35b of the wealth-tax act, 1957, in addition.3. the reassessment orders which are passed in these matters are challenged before the income-tax appellate tribunal, etc. those appeals arc pending. the question that arises is whether during the pendency of these appeals the prosecutions ..... however it is made clear that in case the appeals filed by the petitioners are dismissed, the criminal prosecutions to proceed. further liberty to the respondents to move the appellate income-tax authority to hear the appeals as early as possible and expeditiously.liberty to mention after the appeals are decided. the respondent's advocate prays for stay of this order.stay .....

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Apr 29 1999 (HC)

induconsulting Bureau Pvt. Ltd. Vs. Commissioner of Income-tax, Bombay ...

Court : Mumbai

Decided on : Apr-29-1999

Reported in : 2000(2)BomCR217; [1999]239ITR151(Bom); 1999(2)MhLj797

..... this reference under section 256(1) of the income-tax act, 1961 the income-tax appellate tribunal, mumbai, has referred the following two questions of law to this court for opinion.at the instance of the assessee :1. 'whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that municipal taxes of rs. 15,328/- paid by the assessee ..... during this accounting year ending on 30-6-1978 was not allowable as a statutory deduction while computing its income from house property on the reason that the taxes pertained for a period from 1-4-1976 to 1-4-1977; and the liability had been incurred prior to the accounting period relevant to the ..... consideration i.e. 1979-80 but in the earlier year. the tribunal was right in holding that the above amount was not allowable as a statutory deduction in computation of income from house property of the previous year relevant to the assessment year 1979-80. accordingly, we answer this question in the affirmative i.e. in favour of the revenue and ..... the negative i.e. in favour of the revenue and against the assessee.3. so far as the first question is concerned, the uncontroverted factual position is that the municipal taxes amounting to rs. 15,328/- which the assessee paid during the accounting year ending on 30-3-1978, relevant to the assessment year 1979-80 pertained to the period from .....

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Apr 29 1999 (HC)

Bhupen Champaklal Dalal Vs. Sandeep Kapoor and anr.

Court : Mumbai

Decided on : Apr-29-1999

Reported in : [2000]248ITR827(Bom)

..... p.s. patankar j.leave to amend.the prosecution is launched against these applicants under sections 276c(1)(i), 277 and 278b of the income tax act, 1961. this is for wilful evasion of tax and making false statements in the verification knowingly. this was done as a director of the company and by the company. in criminal application no. 610 of 1999, ..... stay criminal proceedings. another judgment of the supreme court is cited, viz., p. jayappan v. s. k perumal, first income tax officer : [1984]149itr696(sc) . it was dealing with initiation of the criminal proceedings under sections 276c and 277 of the income tax act read with sections 193 and 196 of the indian penal code. the apex court held that even through reassessment proceedings ..... prosecution is also launched under section 35b of the wealth tax act, 1957, in addition.the reassessment orders which are passed in these matters are challenged before the income tax appellate tribunal, etc. those appeals are pending. the question that arises is whether during the pendency of these appeals the prosecutions ..... however it is made clear that in case the appeals filed by the petitioners are dismissed, the criminal prosecutions to proceed. further liberty to the respondents to move the appellate income tax authority to hear the appeals as early as possible and expeditiously. .liberty to mention after the appeals are decided. the respondent's advocate prays for stay of this order .....

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May 06 1999 (HC)

Wall Street Construction Ltd. Vs. Dy. Cit

Court : Mumbai

Decided on : May-06-1999

Reported in : [1999]71ITD47(Mum); (2002)75TTJ(Mumbai)653

..... unaccounted turnover of the assessee.r. v. easwar, j.m. (as a third member) : 6-5-1999the following question has been referred to me under section 255(4) of the income tax act :'whether, on the facts and in the circumstances of the case, the book results shown by the assessee in accounted business should be accepted or a rate of 12 per ..... of interest under section 234b, the same is of consequential effect only. 12. in the result, the appeal of the assessee is rejected.reference under section 255(4) of the income tax act, 1961,5th aug., 1998as in the above-mentioned appeal there is a difference of opinion between the jm and the am on one point we are referring the following question ..... considered view, the accounts books of the assessee are liable to be rejected for the following reasons :(i) as a result of two search operations under section 132 of the income tax act, 1961 on 21-8-1990, and on 24-12-1992, a computer sheet was found, which gave details of 'on money' receipts and the assessee himself offered the same for ..... ita no. 1759/bom/1995 dated 7-8-1996, for assessment year 1991-92 without prejudice that no income be taxed during assessment year 1992-93 as submitted in the relevant ground of appeal.(iv) amendment made in section 234b of income tax act, 1961, by finance act, 1995, by applied prospectively and accordingly interest under said section for assessment year 1992-93 be limited into .....

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May 12 1999 (TRI)

Concept Pharmaceuticals (P.) Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : May-12-1999

Reported in : (2000)73ITD174(Mum.)

..... 1) [1993] 201 itr 567/69 taxman 575. the bombay high court in that case thoroughly examined the scope of section 40a(5)(a) and (c) of the income-tax act. speaking about the limits prescribed in sub-clauses (i) and (ii) of clause (a), their lordships held that these limits apply to payments made to all persons covered ..... to be in manuscript and the photocopies of those manuscript statements, were filed as apart of the paper book. further the statement recorded under section 131 of the income-tax act from shri r. s. krishnan on 29-5-1986 is furnished at pages 30 to 35 of the paper book. shri r. s. krishnan was the ..... and it should have been treated as such. as can be seen from page no. 6 of the paper book, total income disclosed under the amnesty return was rs. 11,18,531 on which income-tax and surcharge payable was rs. 7,04,675. the whole of it is recorded to have been paid as under : 15 ..... , had already found materials to show that there had been concealment, that would mean that the department had detected the concealment. if the income-tax officer had only prima facie belief that would not mean that the concealment had been detected." therefore, an assessee whose premises had been searched ..... worked out to rs. 4,00,625. the figure given by the company also tallied with this method of working in this case. it is assessed to tax as income from other sources.4. following arguments were addressed by shri s. e. dastur, learned advocate for the company. it is difficult to prove that raw material .....

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