Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: supreme court of india Year: 1999 Page 10 of about 188 results (0.093 seconds)

Aug 27 1999 (SC)

K. R. Patel Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Aug-27-1999

Reported in : [1999]106TAXMAN151(SC)

..... 1/3 of the property mentioned in the will could be said to be held under trust and thus exempt within the meaning of section 4(3)(i) of the income tax act, 1922. the court answered the question in affirmative and said that it could not be laid down as a general rule that when debts of the testator are not paid ..... . whether, on the facts and in the circumstances of the case, k.r. patel and b.g. amin were liable to be assessed as trustees under section 161 of the income-tax act, 1961?" these questions arose from the order of the appellate tribunal in the following circumstances.one mrs. bhikubai chandulal jalundhwala, a resident of bombay, executed a will on january 5 ..... the estate of the testator was specifically receivable on behalf of his sons, the residuary beneficiaries. this court held that section 41 of the income-tax act, 1922 was not applicable as the administrator general received the income on his behalf as administrator and not on behalf of five sons of the testator. both the questions were answered in affirmative in favour of the ..... a division bench of the high court of judicature at bombay on a reference under section 256(1) of the income-tax act, 1961 (for short the 'act') decided all the three questions of law referred to it for its opinion by the income tax appellate tribunal ('appellate tribunal' for short) in favour of the revenue. the assessee is aggrieved.the questions of law are:- "1. whether .....

Tag this Judgment!

Sep 01 1999 (SC)

M/S Mysore Minerals Limited, M.G. Road, Bangalore Vs. the Commissioner ...

Court : Supreme Court of India

Decided on : Sep-01-1999

Reported in : AIR1999SC3185; (1999)156CTR(SC)1; [1999]239ITR775(SC); JT1999(6)SC444; 1999(5)SCALE340; (1999)7SCC106; [1999]Supp2SCR182

..... the statute of limitation applicable to the case, his right is for ever extinguished and the possessory owner acquires an absolute title.13. podar cements case (supra) is under the income-tax act and has to be taken as trend-setter on the concept of ownership. assistance from the law laid down therein can be taken for finding out meaning of the term ..... provision vesting of a title in the assessee though short of absolute ownership should also entitle the assessee to the benefit of section 32(1).4. section 32 of the income-tax act confers a benefit on the assessee. the provision should be so interpreted and the words used therein should be assigned such meaning as would enable the assessee securing the benefit ..... housing board. the actual deed of conveyance was not yet executed by the housing board in favour of the assessee. the assessee made a claim under section 32 of the income-tax act in respect of depreciation of buildings used for the purpose of the business of the assessee. the claim was rejected by the assessing officer forming an opinion that the assessee ..... title legally conveyed to him after complying with the requirements of law such as transfer of property act, registration act etc. but in the context of section 22 of the income-tax act having regard to the ground realities and further having regard to the object of the income -tax act namely, 'to tax the income', we are of the view, owner is a person who is entitled to receive .....

Tag this Judgment!

Sep 08 1999 (SC)

Balraj Taneja and anr. Vs. Sunil Madan and anr.

Court : Supreme Court of India

Decided on : Sep-08-1999

Reported in : AIR1999SC3381; JT1999(6)SC473; 1999(5)SCALE400; (1999)8SCC396; [1999]Supp2SCR258

..... plaintiff to proceed further in the matter. the plaintiff had also called upon the defendant nos. 2 and 3 to obtain requisite certificate under the income tax act as per terms of agreement to sell dated 6th august 1992.36. the case of respondent no. 1, as set out in the plaint itself ..... specific performance could still be decreed would have immediately arisen particularly because of the relevant provisions of the income tax act. now, the agreement in question stipulated that the defendants would obtain permission from the income tax department and send the same to the plaintiff whereupon the plaintiff would pay a sum of rs. ..... of several requests made by him from time to time. it was also pleaded as follows:even the permission under the income tax act to enable the agreement to sell and execution of the sale deed in favour of the plaintiff was to be obtained not ..... by the defendants. but respondent no. 1, as plaintiff, himself pleaded that 'defendants insisted that they had obtained the certificate (permission) from the income tax department and sent it to him'. he denied its having been obtained or sent to him. non-filing of the written statement would not resolve this ..... , the plaint itself showed a serious disputed question of fact involved between the parties with regard to the obtaining of certificate (permission) from the income tax department and its communication by the defendants to the plaintiff (respondent no. 1). since this question of fact was reflective of the attitude of the .....

Tag this Judgment!

Sep 08 1999 (SC)

Commissioner of Income Tax, Hyderabad Vs. M.J. Swamy

Court : Supreme Court of India

Decided on : Sep-08-1999

Reported in : (2002)10SCC128

..... tribunal is correct in holding that no capital gains arise on the transfer of the lands coming within the purview of section 2(14)(iii) of the income tax act, 1961 as it stood on 1-7-1970. 2. answering this question, the high court took note of the decision in j. raghottama reddy v. ito1 and answered the question ..... received on the acquisition of land could not be assessed as the same was beyond the scope of section 2(14) of the income tax act, 1961. the assessing authority did not agree with the claim and brought the same to tax. ultimately, the matter reached the tribunal, which decided in favour of the assessee. thereupon, a question was referred to the high court ..... referred to in the affirmative and against the revenue. during the pendency of these proceedings, an amendment has been made by introduction of an explanation by the finance act, 1989 with retrospective effect from 1-4-1970. the high court did not have occasion either while dealing with the decision in j. raghottama reddy1 or the order out of .....

Tag this Judgment!

Sep 09 1999 (SC)

Assistant Commissioner of Income Tax, Punjab Vs. Raja Ram Kulwant Rai

Court : Supreme Court of India

Decided on : Sep-09-1999

Reported in : (2002)10SCC129

..... not open to the department to initiate the proceedings whatsoever under section 143 of the income tax act. the high court took note of the fact that there cannot be two assessments for the same assessment year on an assessee and once an assessment has been framed for ..... order 1. the respondent filed a writ petition challenging the initiation of the proceedings by issue of notices under section 143(2) of the income tax act, 1961. the contention put forth on behalf of the respondent before the high court was that there has been an assessment made under chapter xiv-b and therefore, it is ..... a block period under section 158-bc which includes the years in question, the income tax officer stands debarred from framing an assessment under section 143 on the basis of returns already filed under section 139. on this basis the high court quashed the notices issued ..... to the respondent. the department aggrieved by the said order is in appeal before this court. 2. it is brought to our notice that by finance (no. 2) act, 1998, an explanation has been added to section 158-ba and the department places strong reliance upon this explanation. the high court when it rendered its judgment did not have .....

Tag this Judgment!

Sep 21 1999 (SC)

General Insurance Corporation of India Vs. Commissioner of Income Tax, ...

Court : Supreme Court of India

Decided on : Sep-21-1999

Reported in : AIR1999SC3769; [1999]240ITR139(SC); JT1999(7)SC282; 1999(6)SCALE33; (1999)8SCC60; [1999]Supp2SCR742

..... and gains of business by including it in 'expenditure not admissible under the provisions of sections 30 to 43a of income-tax act' by reference to rule 5(a) of the first schedule to income-tax act, 1961. the question referred to the high court should have been answered in affirmative.25. the appeal is allowed ..... to the case at hand. in none of the three cases, the question of determining applicability of section 44 and the first schedule of the income-tax act arose for consideration.24. to sum up, the amount set apart by general insurance corporation for redemption of preference shares and treated as expenditure under ..... the shareholder to the company so as to be taxable for capital gains as amounting to transfer within the meaning of section 2(47) of the income-tax act, 1961. their lordships held that such redemption amounted to a sale and hence was covered by the definition of transfer. in associated power co, ..... should be taken to its logical conclusion so as to hold that the expenditure was allowable as deduction under sections 30 to 43a of the income-tax act. the tribunal upheld the contention that the provision made by the assessee was neither an expenditure nor an allowance in the ordinary commercial sense and ..... to be an amount of expenditure, it was not an item of expenditure dealt with by the provisions of sections 30 to 43a of the income-tax act. accordingly, the claim of the assessee was liable to be upheld.7. on a request made by the revenue, the following question was referred .....

Tag this Judgment!

Sep 21 1999 (SC)

General Insurance Corpn. of India Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Sep-21-1999

Reported in : (1999)156CTR(SC)425; [1999]106TAXMAN389(SC)

..... pradesh in a batch of cases. by that order, the high court considered the effect of a combined reading of sections 2(1a) and 2(14) of the income tax act, 1961 [hereinafter referred to as the act] and has held that (i) capital gains arising from sale of land used for agricultural purposes would be revenue derived from such land and, therefore, agricultural ..... under article 366(1) of the constitution agricultural income has the same meaning as defined under enactments relating to income tax. there is divergence of opinion amongst the high courts as to the effect of section 2(14)(iii) of the act, as amended by finance act, 1970, and hence the parliament introduced the explanation by finance act, 1989 stating the meaning thereto which is ..... and, therefore, the order under appeal cannot be sustained and deserves to be set aside.shri dhruv mehta pointed out that by an artificial definition introduced into the act what is agricultural income cannot be treated otherwise. he also sought to explain the scheme of the entries in the different lists of the constitution in support of his contention.the learned ..... income within the definition under section 2(1a) of the act with the result that parliament would have no legislative competence to tax such agricultural income; and (ii) amended section 2(14)(iii) should be read down to preserve its constitutionality. all land used .....

Tag this Judgment!

Sep 29 1999 (SC)

United Commercial Bank, Calcutta Vs. Commissioner of Income Tax, West ...

Court : Supreme Court of India

Decided on : Sep-29-1999

Reported in : AIR2000SC94; (2000)1CALLT57(SC); (1999)156CTR(SC)380; [1999]240ITR355(SC); JT1999(7)SC544; 1999(6)SCALE257; (1999)8SCC338; [1999]Supp3SCR254

..... court and that majority decision in the said case cannot be looked upon as laying down that a circular which is properly issued under section 119 of the income-tax act for proper administration of the act and for relieving the rigour of too literal a construction of the law for the benefit of the assessee in certain situations would not be binding on ..... ]237itr889(sc) . after referring to the decision in state bank of travancore case (supra) the court observed:under section 145 of the income-tax act, 1961, income chargeable under the head 'profit and gains of business or profession' or 'income from other sources' shall be computed in accordance with the method of accounting regularly employed by the assessee; provided that in a case where the ..... -83:1. whether on the facts and in the circumstances of the case, the tribunal is justified in law in cancelling the cit's order under section 263 of the income-tax act holding that the case of state bank of travancore v. cit, kerala : [1986]158itr102(sc) is not applicable to the facts of the present case?2. whether on the fact and in ..... would not make its accrual non-accrual. before discussing the question involved, the court after considering provisions of the income tax act observed thus:it is settled that the income of the assessee will have to be determined according to the provisions of the act in consonance with the method of accountancy regularly employed by the assessee. the method of accounting regularly employed by the .....

Tag this Judgment!

Oct 01 1999 (SC)

Commissioner of Income-tax Vs. Jaiswal Chemicals P. Ltd.

Court : Supreme Court of India

Decided on : Oct-01-1999

Reported in : [2001]248ITR106(SC)

..... high court : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in upholding the order of the commissioner of income-tax (appeals) in granting relief to the assessee under section 32ab of the income-tax act, 1961, on the interest component of the income earned out of the monies invested in short term deposits for the assessment year 1990 ..... act 2. there will be no order as to costs.c.a. no. 5673 of 1999 at s.l ..... and in the circumstances of the case, the tribunal was justified in law in upholding the commissioner of income-tax (appeals) in directing the assessing officer to treat the interest income as eligible profits of the business while computing the deduction under section 32ab of the act whether, on the facts and in the circumstances of the case, the tribunal was justified in law ..... in upholding the order of the commissioner of income-tax (appeals) in directing the assessing officer to include the interest income in the gross total income while computing the relief under section 80-i of the .....

Tag this Judgment!

Oct 01 1999 (SC)

Union of India and ors. Vs. S. Muthyam Reddy

Court : Supreme Court of India

Decided on : Oct-01-1999

Reported in : AIR1999SC3881; [1999]240ITR341(SC); JT1999(7)SC596; 1999(6)SCALE305; (1999)7SCC545

..... pradesh in a batch of cases. by that order, the high court considered the effect of a combined reading of sections 2(1a) and 2(14) of the income tax act, 1961 [hereinafter referred to as 'the act'] and has held that (i) capital gains arising from sale of land used for agricultural purposes would be revenue derived from such land and, therefore, 'agricultural ..... article 366(1) of the constitution 'agricultural income' has the same meaning as defined under enactments relating to income tax. there is divergence of opinion amongst the high courts as to the effect of section 2(14)(iii) of the act, as amended by finance act, 1970, and hence the parliament introduced the explanation by finance act, 1989 stating the meaning thereto which is in ..... therefore, the order under appeal cannot be sustained and deserves to be set aside.4. shri dhruv mehta pointed out that by an artificial definition introduced into the act what is agricultural income cannot be treated otherwise. he also sought to explain the scheme of the entries in the different lists of the constitution in support of his contention.5. the ..... income' within the definition under section 2(1a) of the act with the result that parliament would have no legislative competence to tax such agricultural income; and (ii) amended section 2(14)(iii) should be read down to preserve its constitutionality. all land used .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //