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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: mumbai Year: 1999 Page 8 of about 248 results (0.039 seconds)

Jun 28 1999 (HC)

Commissioner of Income-tax Vs. International Computers Indian Manufact ...

Court : Mumbai

Decided on : Jun-28-1999

Reported in : [1999]239ITR499(Bom)

..... the case, the assessee is entitled to development rebate under section 33(1)(b)(b)(i)(b) of the income-tax act, 1961, so that the orders under section 263 of the income-tax act, 1961, passed by the commissioner of income-tax deserved to be cancelled ? at the instance of the assessee : (2) whether, on the facts and in ..... 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 two questions of law to this court for opinion, both at the instance of the revenue ..... the circumstances of the case and in law, the commissioner of income-tax bombay city vi, bombay, was right in exercising ..... cent. according to him, the assessee was entitled to development rebate, only at the rate of 15 per cent. the commissioner of income-tax was of the opinion that the income-tax officer had not applied his mind to the question of the rate of development rebate applicable to computer system in this case. he, ..... therefore, initiated proceedings for suo motu revision and after hearing the assessee, directed the income-tax officer to modify his order by allowing development rebate at 15 per cent, as against 25 per cent, allowed by him. this order was passed by .....

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Jun 29 1999 (HC)

Commissioner of Income-tax Vs. Hoechst Dyes and Chemicals P. Ltd.

Court : Mumbai

Decided on : Jun-29-1999

Reported in : [1999]240ITR1(Bom)

..... . the assessee-company manufactures pharmaceuticals. in the assessment year 1976-77, the assessee claimed depreciation at the rate of 100 per cent, under section 32(l)(ii) of the income-tax act, 1961 ('the act'), on the amount of rs. 2,42,084 spent on light fittings, fluorescent fittings, strip light fittings, frames for light fixtures, installations/wiring for lighting, installation of call bell ..... 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 question of law to this court for opinion at the instance of the revenue : 'whether, on the facts and in the circumstances of the ..... /buzzers/door locks, etc., were 'plant' and allowing depreciation at the rate of 100 per cent, thereon under the first proviso to section 32(1)(ii) of the act. in our opinion, the income-tax officer was right in holding that these items did not qualify as 'plant' but were additions to fittings and allowing depreciation thereon at the rate of 10 per ..... appealed to the commissioner of income-tax (appeals), who restored the matter to the income-tax officer of each item afresh. in compliance with the directions of the commissioner of income-tax (appeals), the income-tax officer reconsidered the claim of the assessee in respect of each item of expenditure and allowed 100 per cent, depreciation under section 32(l)(ii) of the act on certain items, the aggregate .....

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Jun 29 1999 (HC)

Commissioner of Income-tax Vs. Jaypee Dyeing House

Court : Mumbai

Decided on : Jun-29-1999

Reported in : [1999]239ITR418(Bom)

..... 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 : 'whether, on the ..... is only used for the above purpose. learned counsel for the assessee has drawn our attention to the table found in part i of appendix i to the income-tax rules, 1962, which gives the rates at which depreciation is admissible. for machinery mentioned in sub-clause (ii) of clause iii of the said appendix, ..... conclusion that the assessee was processing artificial silk in its factory. the tribunal also referred to paragraph 2 of the assessment orders of both the years, where the income-tax officer had mentioned : 'the assessee continued the business of dyeing, bleaching and printing of art silk cloth.' 5. in the opinion of the tribunal, the assessee ..... on the machinery used by it. the income-tax officer did not accept the assessee's claim for depreciation at the higher rate because, in his opinion, the assessee was not doing processing work but ..... and 1980-81 for which the previous year ended on june 30, 1978, and june 30, 1979, respectively. the claim of the assessee before the income-tax officer was that since the assessee was engaged in processing of artificial silk cloth, it was entitled to higher depreciation at the rate of 15 per cent. .....

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Jul 02 1999 (HC)

Union of India Vs. Prakash Mehra

Court : Mumbai

Decided on : Jul-02-1999

Reported in : [1999]107TAXMAN71(Bom)

..... act, i.e., for not filing the returns for the year 1986-87 within time or on due date. according to the ..... for respondent no. 1.2. the petitioner-union of india through income-tax department has challenged the order of the additional chief metropolitan magistrate, 47th court, esplanade, mumbai, dated 7-8-1997 by which he discharged the accused under section 276-0 of the income tax act, 1961 ('the act'). the accused was prosecuted by the income-tax department by filing a complaint under section 276cc of the ..... must be given to the assessee before launching the prosecution. the trial court also relied upon the judgment of this court - panaji bench - in vishnoo v kamat tarcar v. first income tax officer : [1994]207itr1040(bom) , wherein it has been observed by justice dr. e.s. de silva that since the provision under which the penalty was imposed by the department, being ..... notice.5. while dealing with these submissions, the trial court relied upon the judgments of the calcutta and rajasthan high courts in dunlop india ltd. v.arun chandra sinha asstt. cit : [1995]211itr79(cal) and shree singhvi bros. v. union of india , respectively. the trial court has referred to these judgments and observed that both the calcutta high court and .....

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Jul 05 1999 (HC)

Ramagauri Keshvlal Virani Vs. Walkeshwar Triveni Co-operative Housing ...

Court : Mumbai

Decided on : Jul-05-1999

Reported in : AIR1999Bom385; 2000(2)BomCR687; 1999(3)MhLj145

..... heavily lie on the petitioner to prove his exclusive right of ownership over the terrace. since, however, the statutory provision of the maharashtra ownership flats act, do not empower the builder to sell the terrace in the circumstances of the present case and since the 'document, exhibit 'a', mainly appears to ..... the words nothing in this section shall affect the right of the promoter to dispose of the remaining flats in accordance with the provisions of this act.'11. in fact none of the provisions individually or collectively authorise the builder to sell a terrace of the building. the words such as common ..... to cover the terrace. he also contended that all objections to the tenability of the dispute under section 91 of the maharashtra co-operative societies act, 1960 is concerned, the same was rightly rejected by both the courts below.6. so far as the first objection relating to maintainability of the ..... jain and others, in support of his contention. it was also contended by him that as per the provisions of the maharashtra ownership flat and apartments act, 1963, the builder had power to dispose of the terrace and as such there was no illegality in purchasing of the terrace by the petitioner. ..... that the dispute tiled by the society against the petitioner did not fall within the ambit of section 91 of the maharashtra co-operative societies act, 1960 as it was not a dispute between the society and its member because according to mr. naik the petitioner has purchased the flat in .....

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Jul 07 1999 (HC)

Gandhi Trading Vs. Assistant Commissioner of Income-tax and ors.

Court : Mumbai

Decided on : Jul-07-1999

Reported in : (2000)518CTR(Bom)512; [1999]239ITR337(Bom)

..... 10. we have given our careful consideration to the facts and circumstances of the case. the two properties of the assessee, which have been attached under section 281b of the income-tax act, having been valued even by the departmental valuer at rs. 2.66 crores against the anticipated liability ofrs. 2 68 crore, we do not find any justification whatsoever for ..... bombay, (ii) office premises situated at mehta house, chowpaty, bombay-400 007, and (iii) residential flat situated at fionika, walkeshwar, bombay-400 006, by the assistant commissioner of income-tax, circle 7(2), mumbai, under section 281b ofthe income-tax act, 1961 ('the act'), vide order dated april 5, 1999. the petitioners contend that the impugned orders of attachment under section 281 b of the ..... act are unlawful, unconstitutional, ultra vires, without authority of law, passed without due application of mind and are patently bad in law, misconceived and vitiated. it is prayed that ..... and to submit to the orders of the court.7. we have considered the suggestion of the joint commissioner of income-tax. we are, however, not impressed by the same. attachment has been made in this case under section 281b of the act which provides for provisional attachment only to protect the revenue in certain cases. this section reads as follows :'281b .....

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Jul 12 1999 (TRI)

Deputy Commissioner of Vs. Parle Biscuits (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Jul-12-1999

Reported in : (2000)74ITD148(Mum.)

..... held that deduction under section 32ab is an incentive to the assessee upon fulfilment of certain conditions as laid down under the income-tax act and that the deduction under section 80-i is allowed with reference to the profits. the cit (a) has further held that deduction under section 32ab is not debited to the profit & loss account and therefore the deduction ..... this connection it may be relevant to refer to section 28 and section 29, which are relevant in computation of income of profits and gains of the industrial undertaking under the act. the following income shall be chargeable to income-tax under the head "profits and gains of business or profession" - (i) the profits and gains of any business or profession which was carried ..... on by the assessee at any time during the previous year; "29. the income referred to in section 28 shall be computed in ..... i.3. the revenue is aggrieved. the learned departmental representative contended that deduction under section 80-i is permissible on the income as computed under the act. in computing the income deduction under section 32ab is taken into account and therefore the cit (a) was not justified in giving the direction that the profits for purposes of section 80-i be computed without .....

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Jul 12 1999 (HC)

Chinnupashabi W/O Hasan Jahagiradar and Others Vs. Fatesingh Shikshan ...

Court : Mumbai

Decided on : Jul-12-1999

Reported in : AIR1999Bom383; 1999(4)ALLMR405; 2000(2)BomCR691

..... the standard rent, arrears of rent, additions to the rent etc., and submitted that if any such interpretation is accepted, a number of provisions of the act would become redundant and in that context he drew my attention to the observations of the supreme court in the case of m/s. alphali pharmaceuticals ltd. ..... be the rent paid in kind and in a para 10, the hon'ble supreme court in terms held that under the provisions of the particular rent act, service cannot be a consideration for sub-lease is the question. the court observed 'it is however, not possible to accept that services in lieu of ..... civil suit to take back possession from a person who was given a personal privilege of occupation. the suit was not one filed under the bombay rent act. this being the position, shri godbole submitted that the orders passed by the courts below were lacking in competence and the courts concerned did not have ..... necessarily required to pay a rent in money and can be permitted to pay it in kind. he specifically referred section 105 of the transfer of property act, whereunder in a lease of immovable property a service rendered can be the consideration for the lease. he drew my attention to the fact that it ..... of his being in the service or employment of the landlord, and that the tenant has ceased, whether before or after the coming into operation of this act, to be in such service or employment, or---'3. shri godbole submitted that it was not in dispute that hasan jahagirdar was in the employment of .....

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Jul 13 1999 (HC)

Commissioner of Income-tax Vs. Hindustan Conductors Pvt. Ltd.

Court : Mumbai

Decided on : Jul-13-1999

Reported in : [1999]240ITR762(Bom)

..... dr. 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 question of law to this court for opinion :''whether, on the facts and in the circumstances of ..... in reversing the same.11. we have also given our careful consideration to the submission of mr. mehta that the income tax officer has no power under section 36(1)(iii) of the act to examine the reasonableness of the rate of interest paid by the assessee on borrowings and to disallow any part of ..... as interest on borrowings. we find it difficult to accept the above contention because, in our opinion, the income tax officer is undoubtedly entitled, while considering the claim for deduction under section 36(1)(iii) of the act to examine whether the amount paid as interest is really 'interest' and if he finds that it is ..... the assessments for the assessment years under reference were reopened under section 147(a) of the act. as in the assessment for the assessment year 1975-76, in reassessment orders made for these three assessment years, the income-tax officer allowed deduction of finance charges calculated at the rate of 15 percent. per annum as interest ..... this case that what is allowable as a deduction under section 36(1)(iii) of the act is any sum paid by way of interest in the commercial sense. this determination has to be done by the income-tax officer having regard to the facts and circumstances of each case. there can be no straitjacket .....

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Jul 13 1999 (HC)

Commissioner of Income-tax Vs. Hindustan Conductors P. Ltd.

Court : Mumbai

Decided on : Jul-13-1999

Reported in : [1999]240ITR16(Bom); 2000(2)MhLj352

..... 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 question of law to this court for opinion :'whether, on the facts and in the circumstances ..... rate of 15 per cent, of the amount borrowed as interest on borrowing under section 36(1)(iii) of the act and disallowed the balance. in view of the above findings, the income-tax officer reopened the assessments of the assessee for the assessment years 1969-70 to 1971-72 and disallowed part of ..... held that the tribunal was wrong in reversing the order of the income-tax officer and the commissioner of income-tax (appeals). it was observed :'. . . in our opinion, the income-tax officer is undoubtedly entitled while considering claim for deduction under section 36(1)(iii) of the act to examine whether the amount paid as interest is really 'interest' ..... by him in the past. he, therefore, allowed a sum of rs. 48,000 and disallowed the balance. the above order of the income-tax officer was reversed by the commissioner of income-tax (appeals). the appeal of the revenue was also dismissed by the tribunal. hence, this reference.6. we have heard mr. r. v. ..... the said trust, which was a public charitable trust, were controlled by the founder of the assessee-company through his kith and kin. according to the income-tax officer, the payment by way of financing charges at a most exorbitant rate was not wholly by way of interest. he, therefore, allowed finance charges .....

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