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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: mumbai Year: 1999 Page 7 of about 248 results (0.047 seconds)

May 25 1999 (TRI)

Jhantala Investments Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : May-25-1999

Reported in : (2000)73ITD123(Mum.)

..... made by other shareholders were bogus and unbelievable and the subscription amounts represent nothing but unexplained investment of the assessee-company which justifies the addition under section 68 of the income-tax act. before dealing with this issue, even the broad probabilities if taken into consideration would not justify any addition under section 68. we have already catalogued the various dates ..... a combined review of the judgments of this court, it follows that an ito acquires jurisdiction to reopen an assessment under section 147(a) read with section 148 of the income-tax act, 1961, only if on the basis of specific, reliable and relevant information coming to his possession subsequently, he has reasons, which he must record, to believe that, by ..... these peculiarities, according to the assessing officer, clearly indicated that this was not a genuine public issue.further, the assessing officer held that provisions of sec. 68 of the income-tax act were clearly attracted. he further held that the share consideration credited in the books of account of the assessee-company with reference to its alleged public issue in fact does ..... associate concerns at a nominal price." 9. the assessing officer also stated that the case of the assessee was clearly covered by the provisions of section 68 of the income-tax act.the conclusions reached by him were the following : (1) the alleged share considerations credited in the books of account of the assessee-company with reference to its alleged .....

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May 28 1999 (HC)

National Plastic and Allied Industries Vs. Deputy Commissioner of Inco ...

Court : Mumbai

Decided on : May-28-1999

Reported in : (2000)67TTJ(Mumbai)824

..... the interest of the revenue quashed.application:also to current assessment year, though provisions of sections 139(8), 215 and 217 are not on statute.decision:in favour of assessee.income tax act 1961 s.263 itat, mumbai 'b' bench pradeep parikh, a.m. & r.p. tolani, j.m.

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May 31 1999 (HC)

Pooja Bhatt Vs. Assistant Commissioner of Income Tax

Court : Mumbai

Decided on : May-31-1999

Reported in : (2000)66TTJ(Mumbai)817

orderm. a. bakshi j.m.the appeal of the assessee is directed against the order dt. 30-12-1997, of assistant commissioner, central circle 23, mumbai, under section 158bc of income tax act, 1961. the block period is from 1-4-1986, to 18-12-1996.2. the relevant facts, in this case, are that the assessee is a film actress of hindi ..... viz., 'tamanna' under the banner of m/s pooja bhatt productions, her proprietary concern. on 18-12-1996, there was a search and seizure operation under section 132 of the income tax act, 1961, at the residential premises of the assessee. cash of rs. 98,500 and some documents were seized. a notice under section 158bc of the ..... income tax act, 1961, was issued to the assessee on 11-4-1997, in response to which the assessee had filed the return of income declaring nil undisclosed income. the assessing officer has made additions on various accounts under the following heads :'a. payment of 'on-money ..... contended that no incriminating documents were found during search action in regard to the fixed deposit reports. the details have been obtained from the balance sheet on record of the income tax department on the basis of which addition has been made.10. it was further contended that the assessing officer has unjustifiably made additions on account of low withdrawals and has .....

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Jun 09 1999 (HC)

Commissioner of Income-tax Vs. Mrs. J.R. Lalwani

Court : Mumbai

Decided on : Jun-09-1999

Reported in : [1999]240ITR750(Bom)

..... by this reference under section 256(1) of the income-tax act, 1961, at the instance of the revenue, the income-tax appellate tribunal has referred the following question of law to this court for opinion : 'whether, on the facts and in the circumstances of the case, share income in the name of smt. jasotiben ramchand lalwani from ..... representative of the hindu undivided family comprising her two sons and herself.6. an identical controversy came up for consideration before this court in income-tax reference no. 395 of 1987--cit v. s. r. kirloskar (india). in that case, this court, summed up the legal position emerging from the decision of the ..... income-tax officer was also confirmed by the income-tax appellate tribunal. the order of the tribunal was not challenged and thus that decision attained finality. despite that, in the appeal ..... of herself and her two sons and not in her hands in her individual capacity. though this claim was accepted by the income-tax officer in theoriginal assessment, it was rejected in reassessment for the assessment years 1968-69 to 1974-75. on appeal by the assessee, the ..... and not a hindu undivided family. the answer, in our opinion, in no uncertain terms, is in the negative. the income-tax officer rightly rejected the claim of the assessee by reopening the assessments for the assessment years 1968-69 to 1974-75 which order of the .....

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Jun 09 1999 (HC)

Commissioner of Income-tax Vs. S.R. Kirloskar (ind.)

Court : Mumbai

Decided on : Jun-09-1999

Reported in : (1999)156CTR(Bom)559; [1999]239ITR382(Bom)

..... 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 :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that income derived from intestate self-acquired property received from the assessee ..... in the hands of his hindu undivided family and not in his hands as an individual. the commissioner of income-tax (appeals) accepted the above contention of the assessee and allowed the appeal. against the above order, the revenue appealed to the income-tax appellate tribunal ('the tribunal'). the tribunal followed its own special bench decision in the case of the assessee ..... the death of his father intestate. he, therefore, assessed the income in the hands of the assessee in his individual status. the assessee appealed to the commissioner of income-tax (appeals). the case of the assessee before the commissioner of income-tax (appeals) was that, income received by the assessee from the self-acquired properties of his deceased father must be ..... hindu undivided family as the above properties had been received by him from his father who died intestate. the income-tax officer rejected the assessee's claim for being assessed as a hindu undivided family in respect of the above income on the ground that the properties were the self-acquired properties of his father and the assessee received them on .....

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Jun 15 1999 (HC)

Commissioner of Income-tax Vs. Sharda Sugar Industries Ltd.

Court : Mumbai

Decided on : Jun-15-1999

Reported in : (1999)157CTR(Bom)151; [1999]239ITR393(Bom)

..... 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 income-tax appellate tribunal has referred the following question of law to this court for opinion :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal has rightly held that the amounts of rs. 6,36,683 ..... and assessed the same in the hands of the assessee in the assessments for those years. the assessee appealed to the commissioner of income-tax (appeals) against the above orders. the commissioner of income-tax (appeals), following the decision of the income-tax appellate tribunal ('the tribunal') in the case of hindustan sugar mills ltd. for the assessment year 1973-74 wherein the tribunal had held ..... that such amount was not income of the assessee, deleted the additions made by the income-tax officer. the appeals of the revenue against the above order were dismissed by the tribunal. hence, this reference.3. we have heard ms. vasanti patel ..... with the fund and the amount in question continued to remain with the assessee. in the assessment of the assessee for the assessment years 1975-76 and 1976-77, the income-tax officer treated the amount of excess collection made by the assessee during the previous years relevant to the above assessment years as .....

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Jun 15 1999 (HC)

Commissioner of Income Tax, Bombay Vs. Dr. Beck and Co. (ind.) Ltd.

Court : Mumbai

Decided on : Jun-15-1999

Reported in : 2000(3)BomCR401; (2000)1BOMLR162; [1999]239ITR561(Bom); 1999(3)MhLj587

..... revenue :'1. whether, on the facts and in the circumstances of the case and having regard to the interpretation of section 36(1)(iv) of the income-tax act, 1961, and rules 87 and 88 of the income-tax rules, 1962, the tribunal was right in law in holding that the assessee was entitled to a deduction of the entire initial contribution to the superannuation ..... orderdr. b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following questions of law to this court for opinion at the instance of revenue as well as at the instance of assesses :at the instance ..... august 1981 that certain activities were prescribed for the purposes of sub-clause (ix) of clause (b) of sub-section (1) of section 35b of the act by insertion of rule 6-aa by the income-tax (eighth amendment) rules, 1981 as activities for the promotion of sale outside india of the goods, services or facilities expenditure which would qualify for weighted deduction ..... the above rule, the assessee is entitled to weighted deduction under section 35b of the act on the expenditure incurred on export inspection charges.7. mr. jetly, learned counsel for the revenue, on the other hand, submits that the above rule having been inserted by the income-tax (eight amendment) rules, 1981 with effect from 1st august, 1981, has not application to the .....

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Jun 15 1999 (HC)

Commissioner of Income-tax Vs. Kesar Sugar Works Ltd.

Court : Mumbai

Decided on : Jun-15-1999

Reported in : [1999]239ITR398(Bom); [1999]107TAXMAN226(Bom)

..... dr. b. p. s. j.-by this reference under section 256(1) of the income tax act, 1961, the income tax appellate tribunal has referred the following questions of law to this court for opinion at the instance of the revenue :'1. whether ..... to get the order of the concerned authority reversed, subject, however, to any statutory provision to the contrary (viz., section 43b of the income-tax, 1961, as inserted by the finance act, 1983, with effect from april 1, 1984, which provides that certain liabilities can be deducted only on actual payment).in the present case ..... after the dismissal of the writ petition by the high court the liability continued to be a contingent liability.we have carefully considered this controversy. the income-tax law makes a distinction between actual liability in praesenti and a liability defuturo which, for the time being, is only contingent. the former is deductible ..... of six per cent. per annu. the difference was declaimed by the assessee as deduction in the computation of its income for the assessment years 1978-79 and 1979-80. the income tax officer disallowed the deduction on the ground of pendency of appeal before the supreme court against the order of the allahabad ..... price account' in the books of account for the previous relevant year of the assessment year 1979-80, was not income which had accrued in that year and was not therefore chargeable to income-tax for the assessment year 1979-80 2. whether, on the facts and in the circumstances of the case, the .....

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Jun 22 1999 (HC)

Commissioner of Income Tax, Bangalore Vs. Hade Navigation (P.) Ltd., G ...

Court : Mumbai

Decided on : Jun-22-1999

Reported in : 2000(3)BomCR396; [1999]239ITR726(Bom); 1999(3)MhLj575

..... steel ltd. v. u. a. joshi, i.t.o., 1997(225) i.t.r. 458dr. b. p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following questions of law to this court for opinion :at the instance of revenue :'1. whether, on the facts and in the circumstances of ..... . 1 are as follows :---the assessee, a private limited company, submitted its return of income for the assessment year 1978-79 with the income-tax officer under section 139 of the income-tax act, 1961 ('act'). in compliance to notice issued under section 143(2) of the act, the assessee appeared before the income-tax officer and produced evidence in support of its return. after taking into account the relevant ..... material available with him, the income-tax officer made an assessment of the total income of the assessee under section .....

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Jun 23 1999 (HC)

Sub-divisional Engineer, Zilla Parishad, Nasik Vs. Kacharu Vishram Paw ...

Court : Mumbai

Decided on : Jun-23-1999

Reported in : 2000(2)BomCR653; 1999(3)MhLj867

..... made before its publication in the official gazette, with the result in view of the provisions of sub-section (3) of section 20 of the act, the proceedings before the labour court were pending and therefore, the labour court could entertain the application for setting aside the ex parte award. insofar ..... in paragraph 14 above that the supreme court has said that because of the provisions of subsection (3) of section 20 of the industrial disputes act, the tribunal continues to be ceased of the matter and the proceedings before it are deemed to be continued till the award becomes enforceable and therefore ..... case shows that the first question that fell for consideration before the supreme court was whether in the absence of any express provision in the act or the rules framed thereunder empowering the industrial tribunal or the labour court to set aside an ex parte award, the industrial tribunal or ..... and such proceedings are deemed to have continued on the date on which the award becomes enforceable under section 17-a of the industrial disputes act. according to the learned counsel, an award becomes enforceable on the expiry of period of 30 days from the date of its publication under ..... wages from 24th january, 1989. it appears that the said award was published in the official gazette as required by the provisions of the industrial disputes act on 13th december, 1996. it further appears that on 25th april, 1996, the petitioner made an application to the labour court, nasik which was .....

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