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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: supreme court of india Year: 1999 Page 4 of about 188 results (0.161 seconds)

Mar 09 1999 (SC)

Eastern Chemical and Minerals Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-09-1999

Reported in : AIR1999SC2276; [1999]237ITR6(SC); JT1999(2)SC126; 1999(2)SCALE8; (1999)3SCC304; [1999]1SCR948

..... ) was issued in exercise of the powers conferred by section 104(3). it read thus :in exercise of the powers conferred by sub-section (3) of section 104 of the income-tax act, 1961 (43 of 1961), and in partial modification of the ministry of finance (department of revenue and insurance) notification no. s.o.2007 dated the 6th june. 1967, the central ..... s.o. no. 3210, dated 8.8.1969 and therefore the assessee would be entitled to enjoy the exemption from the operation of the provision of section 104 of the income tax act. 1961?2. as indicated in the questions, we are concerned with the assessment years 1972- 73 to 1974-75.3. to appreciate what is involved, it is necessary to set ..... out, at the outset, the provisions of section 104 of the income tax act, 1961 so far as they are relevant:104. income-tax on undistributed income of certain companies -(1) subject to the provisions of this section and of sections 105, 106, 107 and 107a, where the ..... was right in holding that having regard to the notification under section 104(3) of the income tax act, 1961 in s.o. no. 3210, dated 8.8.1969 issued by the government the asses-see was not liable to pay additional tax under section 104 of the income tax act, 1961 for any of the assessment years from 1972-73 to 1974-75?2. whether on .....

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Mar 10 1999 (SC)

Oberoi Hotel Pvt. Ltd. Vs. the Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-10-1999

Reported in : AIR1999SC1110; (1999)152CTR(SC)474; [1999]236ITR903(SC); JT1999(2)SC81; 1999(1)SCALE671; (1999)3SCC127; [1999]1SCR955

..... capital receipt, the tribunal confirmed the said finding, on reference to the high court, the high court arrived at a conclusion that it was a revenue receipt assessable to income-tax as business income for the assessment year 1979-80. hence, this appeal by special leave by the assessee.5. the question whether the receipt is capital or revenue is to be determined ..... for consideration. obviously therefore, it is a capital receipt and not a revenue receipt.7. learned counsel for the revenue relied upon the decision in the case of commissioner of income tax v. rai bahadur jairam valji and ors. : [1959]35itr148(sc) and submitted that assessee had the business of running the hotels in various countries and the amount which is received ..... ,500 by the assessee from the receiver or the hotel in the course of assessee's hotel operation business, is a capital receipt.2. the said question arose in the income-tax assessment of the assessee-company for the year ending on 30th june, 1978 corresponding to the assessment year 1979-80 in the background of the fact that the assessee-company ..... such sale as may then be made by the receiver, terminate and cease to have any force and effect;(d) that the operator shall do execute and deliver all such acts, deeds, documents and instruments as may be necessary or reasonably required by the receiver for the purpose of giving effect to the provisions of this clause.10. for the consideration .....

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Mar 10 1999 (SC)

K. S. Subbiah Pillai Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-10-1999

Reported in : (1999)152CTR(SC)428

..... proceedings out of which these appeals arise but the madras high court dissented therefrom. it dilated at length on hindu law but, with great respect, missed the point that the income tax appellate tribunal is the final fact-finding authority and, as it has itself noticed in the judgment under challenge, the tribunal had held that the remuneration and commission received by ..... on account of his personal qualifications and exertions and not on account of the investment of the family funds in the company and, therefore, could not be treated as the income of the hindu undivided family.4. the high court, having analysed the law, rightly concluded that the broad principle that emerged was whether the remuneration received by the coparcener was ..... him on account of his personal qualifications and exertions and not on account of the investment of the family funds and, therefore, should have held that the income could not be treated as the income of the hindu undivided family .6. in the result, the appeals are allowed. the judgment and order under appeal is set aside. the question is answered in ..... the business or whether it was compensation made for services rendered by the individual coparcener. if it was the former, it was the income of the hindu undivided family, but if it was the latter, then it was the income of the individual coparcener. applying this test, the high court held, 'there is absolutely no evidence to support the contention of the .....

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Mar 11 1999 (SC)

Commissioner of Income-tax, Trivandrum Vs. Relish Goods

Court : Supreme Court of India

Decided on : Mar-11-1999

Reported in : AIR1999SC1640; [1999]237ITR59(SC); JT1999(2)SC130; 1999(2)KLT1(SC); 1999(I)OLR(SC)658; 1999(2)SCALE17; (1999)3SCC167; [1999]1SCR992

..... prawns, this judgment in sterling foods (supra) has been rightly applied by the bombay high court, in the case of commissioner of income- tax v. sterling foods (goa) : [1995]213itr851(bom) , to a claim under section 80hh of the income-tax act and it has been held that the activity of processing of prawns is not an activity of manufacture or production.7. we are ..... of the case :i) the assessee's business involves 'production' ?ii) the assessee is entitled to exemption under section 80hh of the i.t. act, 1961?2. the assessee claimed the allowance under section 80hh of the income-tax act, 1961, on the ground that it was an industrial undertaking that manufactured/produced articles. it would appear from the judgment of the tribunal that ..... high court held that buying and processing of shrimps involved production and, therefore, the assessee was entitled to the allowance that it claimed. it followed its judgment in commissioner of income-tax v. marwell sea foods : [1987]166itr624(ker) .4. we find from the judgment of the kerala high court in the case of marwell sea foods (supra) that harwell sea foods ..... the assessee bought shrimps, peeled them and froze them. there is, no other material on the record which indicates what was done by the assessee and how it was done. the income-tax officer negatived .....

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Mar 11 1999 (SC)

Commissioner of Income Tax Vs. Relish Foods

Court : Supreme Court of India

Decided on : Mar-11-1999

Reported in : (1999)152CTR(SC)500

..... 's business involves ,`production'?(ii) the assessee is entitled to exemption under section 80 hh of the income tax act, 1961?'2. the assessee claimed the allowance under section 80 hh of the income tax act, 1961, on the ground that it was an industrial undertaking that manufactured/ produced articles. it would appear ..... in sterling foods (supra) has been rightly applied by the bombay high court, in the case of cit v. sterling foods (goa) , to a claim under section 80 hh of the income tax act and it has been held that the activity of processing of prawns is not an activity of manufacture ..... from the judgment of the tribunal that the assessee bought shrimps, peeled them and froze them. there is no other material on the record which indicates what was done by the assessee and how it was done. the income tax ..... supra) that marwell sea foods has placed before the taxing authorities a detailed description of the process by which prawns were prepared for export and that the appellate authorities had understood the various stages ..... buying and processing of shrimps involved production and, therefore, the assessee was entitled to the allowance that it claimed. it followed its judgment in cit v. mar well sea foods .4. we find from the judgment of the kerala high court in the case of marwell sea foods ( .....

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Mar 17 1999 (SC)

Commissioner of Income-tax Vs. E. Merck Service and Agencies

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : [2001]248ITR10(SC); 2001(1)SCALE379

order1. the high court at bombay rejected the revenue's application under section 256(2) of the income-tax act, 1961. the questions to which the application pertained read thus :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding ..... -shift allowance on computer only and not on data processing machines and computer is eligible for extra-shift allowance despite the fact that appendix-i, iii-c(3) of the income-tax rules, 1962, clearly, prohibit granting extra-shift allowance on both the above items ?(2) whether, on the facts and in the circumstances of the case, the tribunal was right in ..... data processing machine/computer even though the assessee is not engaged in any of the activities mentioned in section 32a(2) but only acts as indenting agent for foreign companies ?'2. the high court referred to its decision in cit v. i.b.m. world trade corporation : [1981]130itr739(bom) , and observed that the answers to the questions were self-evident.3 .....

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Mar 17 1999 (SC)

Commissioner of Income Tax Vs. Mysodet (P) Ltd., Bangalore

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : AIR1999SC1271; [1999]237ITR35(SC); JT1999(2)SC240; 1999(2)SCALE83; (1999)3SCC278

..... was admittedly not sufficient to distribute as dividend among other shareholders. therefore, the company had contended that in view of the fact that under section 2(22)(e) of the income tax act, 1961, payment of any advance or loan to a shareholder being a deemed payment of dividend, there was no case for invoking the provision of section 104 of the ..... in i.t.r.c, no. 21/82.2. the following question was referred to the high court for its opinion under section 256(1) of the income tax act, 1961 (hereinafter referred to as 'the act'):whether on the facts and in the circumstances of the case, the tribunal was right in law in holding that the provision of section 104 of the ..... income-tax act, 1961 was applicable to the instant case for the assessment year 1975-76?3. the facts leading to the abovesaid reference are as follows:4. the respondent-company is a ..... company for the assessment year 1975-76 at rs. 6,27,430/- holding that the company did not distribute any dividend to its shareholders. the income tax officer initiated proceedings under section 104 of the act, demanding additional income-tax of rs. 31,434/-.5. against the said assessment order, the respondent-company preferred an appeal before the appellate assistant commissioner. having failed before the .....

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Mar 17 1999 (SC)

Commissioner of Income Tax, Bombay Vs. E. Merck Service and Agencies

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : AIR2000SC3610; (1999)9SCC220

..... order1. the high court at bombay rejected the revenue's application under section 256(2) of the income-tax act. the questions to which the application pertained read thus:1. whether on the facts and in the circumstances of the case, the tribunal was right in law in holding that ..... processing machine/computer even though the assessee is not engaged in any of the activities mentioned in section 32a(2) but only acts as intending agent for foreign companies?the high court referred to its decision in commissioner of income-tax, bombay city-i v. i.b.m. world trade corporation : [1981]130itr739(bom) (bom) and observed that the answers to the questions ..... shift allowance on computer only and not on data processing machines and computer is eligible for extra shift allowance despite the fact that appendix-i, iii (c)(3) of the income-tax rules clearly prohibit granting extra shift allowance on both the above items?2. whether on the facts and in the circumstances of the case, the tribunal was right in law .....

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Mar 17 1999 (SC)

Commissioner of Income Tax Vs. Gujarat Polycrete Pvt. Ltd.

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : AIR2000SC3509B; [2000]246ITR463(SC); (1999)9SCC235

..... under an incentive scheme framed by it would be treated as actually paid, so as to meet the requirements of section 43b of the income-tax act. notice does not appear to have been taken of the gujarat sales tax act to ascertain whether or not there was such an amendment. a question of law, therefore, clearly arises and it must be considered by the ..... following question.whether the appellate tribunal is right in law and on facts in directing the assessing officer to allow the claim of the assessee in respect of unpaid sales tax if the same was covered by the specific scheme of the gujarat government whereby the deferred payment scheme was converted into interest free loan particularly when the provisions of section .....

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Mar 17 1999 (SC)

Commissioner of Income Tax Vs. Kasturi and Sons Ltd.

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : AIR1999SC1275; (1999)153CTR(SC)1; [1999]237ITR24(SC); JT1999(2)SC272; 1999(2)SCALE75; (1999)3SCC346; [1999]1SCR1207

..... following question:'whether, on the facts and in the circumstances of the case, there was any profit assessable under section 41(2) of the income tax act, 1961 by the insurance company exercising its option under the policy to replace the damaged aircraft with an aircraft of same make and type ..... was completed on 31-1-1972 was reopened by the income tax officer under section 147(b) of the income tax act (hereinafter referred to as 'the act'). in the reassessment proceedings, the income tax officer applied the provisions of section 41(2) of the act and worked out the profits at the difference between the ..... , so much of the excess as does not exceed the difference between the actual cost and the written down value shall be chargeable to income-tax as income of the business or profession of the previous year in which the moneys payable for the building, machinery, plant or furniture became due:'the ..... -matter of the contract remained one for payment of money which would attract the provisions of section 41(2). consequently, the order of the income tax officer as affirmed by the appellate authority was upheld by the tribunal.5. at the instance of the assessee, the matter was referred to ..... assessee under the policy of insurance and, thus, the provisions of section 41(2) were not attracted. aggrieved by the order of the income tax officer, the assessee preferred an appeal before the appellate assistant commissioner who took the view that explanation to section 41(2) read with explanation to .....

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