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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: mumbai Year: 2012 Page 1 of about 194 results (0.033 seconds)

Apr 17 2012 (HC)

Sarvajanik Shikshan Sanstha Vs.Yehoshva Ashton.

Court : Mumbai

Decided on : Apr-17-2012

..... management of the said sampson english high school.8. the vendor shall obtain necessary permission from competent authority under the urban land (ceiling and holding) act as well as a certificate under section 230a of the income tax act of 1981 before the completion of the sale.14. the vendor shall deliver possession of the said school property along with fixtures, furniture, books, stationery ..... to perform their part of the contract. it is submitted by mr. samdani that unless appropriate permissions are obtained from various authorities viz. permissions from u.l.c. department, income-tax department etc., it was not possible for the appellant to get the sale deed executed from the respondents. it is submitted by mr. samdani that it was the duty on ..... etc. to the purchasers together with any portion of the said property which is or are vacant at the time of completion of the sale.15. the vendor shall pay all assessment, rent, rates, taxes ..... is already closed, it is impossible to grant decree of specific performance. the learned single judge also found that considering the limited jurisdiction conferred under section 34 of the act, the order of the learned arbitrator was not required to be interfered with and accordingly the learned single judge rejected the arbitration petition which was filed under section 34 of .....

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Apr 20 2012 (TRI)

Technomech Engineers Vs. Cce, Nashik

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Decided on : Apr-20-2012

..... , nasik on 25.09.2009 revealed that the appellant had claimed depreciation on the entire amount of credit of rs.3,04,342/- under section 32 of the income tax act, 1961 as evident from income tax return for the year 2007-08. as per cenvat credit rules, 2004, the cenvat credit shall not be allowed in respect of that part of the value of ..... settled in law. the whole idea is that the assessee should not be permitted to claim double benefit, i.e. under the income tax act as well as central excise rules. admittedly, the appellant has not claimed the benefit under the income tax act and the claim regarding depreciation was withdrawn by filing the revised return and that revised return has been accepted. considering these undisputed ..... capital goods which represents the amount of duty on such capital goods which the manufacturer claims as depreciation under section 32 of the income tax act. on being pointed out by the department, the appellant rectified the mistake by correcting the income tax return for the year 2007-08 and reversing 50% credit of rs.1,51,563- availed in 2006-07 and also paid ..... adjudicating authority vide order dated 30.07.2010. the assessee pleaded that for the year 2007-08 they availed cenvat credit and reversed the depreciation amount claimed and also paid income tax thereon along with interest. however, this plea was not accepted and the adjudicating authority confirmed the duty demands apart from imposing penalties. the appellant preferred an appeal before the .....

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May 15 2012 (TRI)

Capricon Transways Pvt. Ltd. and Another Vs. Commissioner of Central E ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Decided on : May-15-2012

..... complete in all respects duly verified by our authorised representative. taxes and duties - the rates are inclusive of all taxes, duties levies applicable from time to time and compliance of all statutory obligations except service tax. tds as per provision of income tax act shall be deducted from the contractors bills and as ..... requested by the contractor, company shall issue a consolidated tds certificate for the tax deduction at source for the whole year. f) your ..... it include air-rail-cab travel also. 22. from the above classification, the intend of the legislature was to expand the levy of service tax for planning/scheduling/organizing/arranging the package tours. 23. in the present case, the appellants providing/supply the contract carriage business (not tourist vehicles ..... section 78 and a penalty of rs.1000/- under section 77 of the act. 3. as both the appeals pertain to a common order and are on the issue whether the appellants are liable to pay service tax on their activity under the category of tour operators prior to 10/ ..... , 77 and 78 of the finance act, 1994. the matter was adjudicated by commissioner who held that the appellant was not required to register themselves with the service tax authorities till 09/09/2004 but was required to register themselves and pay service tax with effect from 10/09/2004 from .....

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Jun 12 2012 (HC)

The Commissioner of Income Tax Vs. M/S. Triumph International Finance ...

Court : Mumbai

Decided on : Jun-12-2012

..... loan or deposit otherwise than by account payee cheque or account payee bank draft within the meaning of section 269t to attract levy of penalty under section 271e of the income tax act, 1961? 2. the assessment year involved herein is ay 20032004. 3. the respondent assessee, a public limited company, is a member of the national stock exchange and is also a ..... loss of rs.17,27,21,815/. the assessment was completed on 5th november 2003 under section 143(3) of the income tax act, 1961 ('act' for short) determining loss at rs.9,84,92,500/. 5. prior to 1st april 2002, the assessee had accepted a sum of rs.4,29,04,722/as and ..... had repaid the loan / intercorporate deposit to the extent of rs.4,28,99,325/in contravention of the provisions of section 269t of the act. 7. on appeal filed by the assessee, the commissioner of income tax (appeals) by his order dated 21st december 2006 confirmed the penalty levied upon the assessee. on further appeal filed by the assessee, the tribunal by ..... foreign currency to the extent of the commission and remitted the balance amount to the foreign reinsurers. as deduction under section 80o of the act in respect of the amount retained as commission was denied by the income tax authorities as also the high court, the company approached the apex court and the apex court held that to insist on a formal remittance .....

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Jun 15 2012 (HC)

Rukmanrani Education Foundations Vs. Chief Commissioner of Income Tax ...

Court : Mumbai

Decided on : Jun-15-2012

..... by respondent no.1 and a writ of mandamus directing the respondents to grant the petitioner approval under section 10(23c)(vi) of the income tax act, 1961. 3. the petitioner, a public trust, registered under the bombay public trusts act, 1951, runs schools in maharashtra. the petitioner was set up under a trust deed dated 18th january, 2003, the provisions whereof entitle the ..... application seeking approval under section 10(23c)(vi), the relevant portion whereof reads as under: 10. in computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included ... (23c) any income received by any person on behalf of ..... (vi) any university or other educational institution existing solely for educational purposes .....

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Jun 25 2012 (HC)

The Commissioner of Income Tax Vs. the Bardez Bazar Consumer Co-op. So ...

Court : Mumbai Goa

Decided on : Jun-25-2012

..... 2000-2001. for the assessment year 1997-1998, the assessee had filed return of income on 15/10/1997 which was processed under section 143(1) of the income tax act, 1961( i.t. act, for short) and proposal under section 151(2) of i.t. act 1961 was sent by the assessing officer to the office of j.c.i.t ..... ., range- 2, panaji for approval to issue notice under section 148 of the i.t. act. accordingly, notice under the said ..... i.t.(a), on the ground that the principle of mutuality does apply and the income earned from members is liable to be exempted from tax. the tax appeal no. 13 of 2007 has been filed under section 260-a of the i.t. act against the said order dated 06/09/2006 passed by the i.t.a.t. ..... no. 92/pnj/2007, thereby holding that the principle of mutuality applies and that the income earned from members is liable to be exempted from tax. 2. the respondent is the assessee, which is a co-operative society registered under the co-operative societies act, engaged in trading in consumer goods to its members as well as non-members. ..... no. 18 of 2007 has been filed under section 260-a of the i.t. act. 5. the relevant facts in tax appeal no. 36 of 208 are as follows: for the assessment year 2004-2005, the assessee had filed return of income on 05/10/2004 which return was processed under section 143(1) of i.t .....

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Jun 27 2012 (HC)

Mrs. Parveen P. Bharucha Vs. the Deputy Commissioner of Income Tax Cir ...

Court : Mumbai

Decided on : Jun-27-2012

..... hearing. 2. by this petition under article 226 of the constitution of india, the petitioner challenges the following: a) notice dated 31.03.2011 issued by the dy. commissioner of income tax (respondent no.1) under section 148 of the income tax act, 1961 (hereinafter referred to as the said act) seeking to reopen the assessment for the assessment year 2006-2007 on the ground that ..... income has escaped assessment within the meaning of section 147 of the said act; and b) order dated 14.11.2011 passed by respondent no.1 rejecting the petitioners objections to initiation ..... to strictly satisfy the conditions which permit them to reopen the assessment under section 147 of the said act. this court in the matter of cartini (i) ltd. v. addl. commissioner of income tax reported in 314 itr 275 has taken a view that reopening of assessment on the basis of material already on record at the time assessment was completed cannot be ..... 31.03.2011, respondent no.1 issued a notice under section 148 of the said act, informing the petitioner that for the assessment year 2006-2007, he had reason to believe that income chargeable to tax has escaped assessment within the meaning of section 147 of the said act. the petitioner by her chartered accountants letter dated 01.04.2011 called upon the .....

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Jul 03 2012 (HC)

The Commissioner of Income Tax Vs. Ca Computer Associates India Pvt. L ...

Court : Mumbai

Decided on : Jul-03-2012

..... (per s.j. vazifdar, j.) :- 1. this is an appeal under section 260-a of the income tax act against the order of the income tax appellate tribunal (itat) allowing the respondent's appeal against the order of the commissioner of income tax (appeals). 2. the appeal is admitted and with the consent of the parties heard finally on the following ..... the agreement, the respondent is liable to pay an annual royalty on all amounts invoiced at a rate of 30%. 4. the assessee filed its return of income for the a.y. 2002-2003 declaring a loss of about rs.14,55,99,340/-. the assessing officer (ao) referred the matter to the transfer pricing ..... had not paid for the same, it would make no difference to the determination of the arm's length price of the transaction. 8. section 92c of the act reads as under:- 92c. computation of arm's length price. - (1) the arm's length price in relation to an international transaction shall be determined ..... at about rs.5.85 crores resulting in a reduction of loss of about rs.1.50 crores. 5. the respondent's appeal was rejected by the cit (a). 6. it is pertinent to note that the tpo by the order under section 92ca(3) observed that the respondent's contention regarding the rate ..... officer (tpo) under section 92a(1) of the act for determining the arm's length price (alp) in respect of the royalty paid by the respondent to cami. the respondent claimed the alp at the contractual .....

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Jul 05 2012 (HC)

The Commissioner of Income Tax Vs. Ms. Janhavi S. Desai

Court : Mumbai

Decided on : Jul-05-2012

..... by him from his mother would start from 21.8.1988 and not from 1.4.1981. 8. section 2(42a) of the income tax act, 1961 reads as under :- 2. definitions in this act, unless the context otherwise requires, (42-a) short-term capital asset means a capital asset held by an assessee for not more ..... (per s.j. vazifdar, j.) :- 1. with the consent of the parties, we proceed to hear the appeal filed under section 260a of the income tax act, 1961 and the cross-objections finally. 2. the appeal is admitted on the following substantial question of law :- whether on the facts and circumstances of ..... included the period for which the original owner held the assets that devolved upon the legal heir. 6. the appellant challenged the order of the cit (a) before the income tax appellate tribunal (itat). the itat held that the period for holding 50% of the property inherited by the respondent from his father would start from ..... shall be included the period for which the asset was held by the previous owner referred to in the said section. section 49(1) of the said act in so far as it is relevant reads as under :- 49. cost with reference to certain modes of acquisition.(1) where the capital asset became the ..... the case the itat was right in directing the a.o. to calculate the long term capital gain without appreciating that section 2(42a) of the act explanation 1 only determines the holding period of an asset for the purpose of short term capital gains and has no application to long term capital gain .....

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Jul 05 2012 (HC)

The Commissioner of Income Tax Vs. Ms. Janhavi S. Desai

Court : Mumbai

Decided on : Jul-05-2012

..... inherited by him from his mother would start from 21.8.1988 and not from 1.4.1981. 8. section 2(42a) of the income tax act, 1961 reads as under :- ??2. definitions ?? in this act, unless the context otherwise requires, ?? (42-a) ??short-term capital asset ? means a capital asset held by an assessee for ..... per s.j. vazifdar, j.) :- 1. with the consent of the parties, we proceed to hear the appeal filed under section 260a of the income tax act, 1961 and the cross-objections finally. 2. the appeal is admitted on the following substantial question of law :- ??whether on the facts and circumstances of ..... included the period for which the original owner held the assets that devolved upon the legal heir. 6. the appellant challenged the order of the cit (a) before the income tax appellate tribunal (itat). the itat held that the period for holding 50% of the property inherited by the respondent from his father would start ..... shall be included the period for which the asset was held by the previous owner referred to in the said section. ? section 49(1) of the said act in so far as it is relevant reads as under :- ??49. cost with reference to certain modes of acquisition. ??(1) where the capital asset became ..... the case the itat was right in directing the a.o. to calculate the long term capital gain without appreciating that section 2(42a) of the act explanation 1 only determines the holding period of an asset for the purpose of short term capital gains and has no application to long term capital .....

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