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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: supreme court of india Year: 1999 Page 5 of about 188 results (0.101 seconds)

Mar 17 1999 (SC)

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

Court : Supreme Court of India

Decided on : Mar-17-1999

Reported in : (1999)152CTR(SC)531

..... 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 above said reference are as follows :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. 31,434.4. against the said assessment order, the respondent-company preferred an appeal before the appellate assistant commissioner. having failed before the ..... definition would be applicable to all provisions which contain the term 'dividend' in the act.11. section 104 of the act reads as under :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 income tax officer is satisfied that in respect of any previous year the profits and gains .....

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Mar 18 1999 (SC)

Stonecraft Enterprises Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : AIR1999SC1638; (1999)153CTR(SC)86; [1999]237ITR131(SC); JT1999(2)SC332; 1999(2)SCALE219; (1999)3SCC343; [1999]2SCR17

..... was not correct in holding that 'granite' is a 'mineral' within the meaning of the term found in section 80hhc(b)(ii), income tax act?2. whether on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee is not entitled ..... the assessee exports granite. the assessee claimed for the granite which it exported the deduction available under section 80hhc of the income tax act, 1961 as inserted by the finance act, 1983 with effect from 1st april, 1983. the relevant provision permits, where 'an assessee, being an indian company or ..... a person (other than a company) resident in india, is engaged in the business of export out of india of any goods or merchandise to which this section applies', the deduction in the computation of its total income ..... value added marketable commodity; therefore, profits derived from export of granite dimensional blocks would be eligible for deduction under section 80hhc of the act. as we have already noted, there is nothing on record to indicate that what the assessee exports is such value added granite so ..... in question, the assessee cannot derive any assistance therefrom.5. it is necessary immediately to note that the mines and minerals (regulation and development) act covers granite as a minor mineral. this court in the state of mysore v. swamy satyanand saraswati (dead) by his lrs., : air1971sc1569 , .....

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Mar 18 1999 (SC)

Commissioner of Income Tax Vs. Sirpur Paper Mills

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : AIR1999SC1264; [1999]237ITR41(SC); JT1999(2)SC328; 1999(2)SCALE160; (1999)3SCC596; [1999]2SCR10

..... against the judgment in hyderabad asbestos cement products ltd. was dismissed on a technical ground, we have heard these appeals on their merits.6. section 36(1)(iv) of the income tax act deals with deductions on account of contributions to recognised provident funds and approved superannuation funds. section 36(1)(iv) reads thus : section 36(1) the deductions provided for in the ..... the purposes of deduction of certain contributions :in exercise of the powers conferred by clause (iv) of sub-section (1) of section 36 of the income tax act, 1961 (43 of 1961), the central board of direct taxes hereby specified the following conditions for the deduction of contributions, not being annual contributions of fixed amounts or annual contributions fixed on some definite basis by ..... the past five years it was an aggregated amount of rs. 2,14,785, calculated on the basis of 25% of the employees' dues on account of past service. the income tax officer allowed the deduction only to the extent of 80% of the aggregate contribution and spread it out over a period of five years. for so doing, he relied upon ..... we are concerned with reads thus :whether on the facts and in the circumstances of the case, the appellate tribunal was justified in confirming the order of the commissioner of income-tax (appeals) that the entire initial contribution made to the superannuation fund is allowable deduction.2. the high court declined to call for its reference and the revenue is in appeal .....

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Mar 18 1999 (SC)

Commissioner of Income Tax, Jabalpur Vs. Keshri Metal Pvt. Ltd., Raipu ...

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : AIR1999SC3801; [1999]237ITR165(SC); JT1999(3)SC45; (1999)9SCC165

..... income-tax act, 1961 because the assessing officer found that depreciation under the companies act had been allowed at rs. 11,53,374/- whereas it was actually allowable at rs. 11,38,057/-. he also found that unabsorbed depreciation ..... justified in upholding the finding of the learned c.i.t. (a) who cancelled the order of the assessing officer passed on 18-6-1991 under section 154 of the income-tax act, 1961?2. the revenue is in appeal. the order of assessment was made on 30th march, 1990. it was then rectified under section 154 of the ..... not something on which there might conceivably be two points of view. the income-tax appellate tribunal confirmed the view taken by the commissioner (appeals).4. on the application of the revenue, the tribunal referred the question aforementioned to the high court and it drew ..... that there was a mistake apparent from the record and he made the rectification after giving to the assessee the opportunity of being heard.3. in appeal, the commissioner of income-tax (appeals) cancelled the order under section 154. he noted that the mistake to be rectified had to be apparent from the record; it had to be an obvious mistake and .....

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Mar 18 1999 (SC)

Commissioner of Income Tax Vs. Sirpur Paper Mills, Etc.

Court : Supreme Court of India

Decided on : Mar-18-1999

Reported in : (1999)153CTR(SC)89

..... against the judgment in hyderabad asbestos cement products ltd. was dismissed on a technical ground, we have heard these appeals on their merits.5. section 36(l)(iv) of the income tax act deals with deductions on account of contributions to recognised provident funds and approved superannuation funds. section 36(1)(iv) reads thus:'section 36(l) the deductions provided for in the ..... of deduction of certain contributions:in exercise of the powers conferred by clause (iv) of sub-section (1) of section 3 6 of t he income tax act, 1961 (43 of 1961), the central board of direct taxes hereby specified the following conditions for the deduction of contributions, not being annual contributions of fixed amounts or annual contributions fixed on some definite basis by ..... five years it was an aggregated amount of rs. 2,14,785, calculated on the basis of 25 per cent of the employees' dues on account of past service. the income tax officer allowed the deduction only to the extent of 80 per cent of the aggregate contribution and spread it out over a period of five years. for so doing, he ..... under the head 'salaries' or to the contributions or to the number of members of the fund.'6. rules 87 and 88 of the income tax rules, 1962 are relevant. they read thus:'87. ordinary annual contributions -the ordinary annual contribution by employer to a fund in respect of any particular employee shall not exceed twenty- .....

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Mar 23 1999 (SC)

Universal Plast Limited Etc. Vs. Commissioner of Income Tax, Calcutta

Court : Supreme Court of India

Decided on : Mar-23-1999

Reported in : AIR1999SC1641; [1999]237ITR454(SC); JT1999(2)SC377; 1999(2)SCALE243; (1999)5SCC189; [1999]2SCR131

..... hotel. the lease amount provided separately for running of the building and hire charges for furniture and fixtures. the question that fell for consideration was whether the rent income was business income taxable under the income tax act, 1922? it was held that as the assessee never carried on any business of a hotel in the premises let out or otherwise at all and there ..... is filed by the assessee universal plast limited - from the judgment and order of a division bench of the calcutta high court in income tax reference no. 17 of 1991 under section 256(2) of the income tax act, 1961 [for short, 'the act'] passed on february 6, 1992 [hereinafter referred to as 'upl case'].2. civil appeals nos. 1685-87 and 1700 of 1999 @ ..... of the lease; the intention of the appellant was found to go out of business altogether, therefore the income was not assessable as business income.17. commissioner of income tax, lucknow v. vikram cotton mills ltd. : [1988]169itr597(sc) is again a case arising under the income tax act, 1922. one of the creditors filed a petition in the high court for winding up. the industrial ..... conclusion was reached on the premise that the term 'business' as defined in that act was wider than the definition of that term under the income tax act the minority, however, took a contrary view.15. in sultan brothers private ltd. v. commissioner of income tax, bombay city-11 : [1964]51itr353(sc) , the assessee constructed a building, fitted it up with furniture and fixtures and .....

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Mar 23 1999 (SC)

Premier Cable Co. Ltd. Vs. Commissioner of Income Tax, Cochin

Court : Supreme Court of India

Decided on : Mar-23-1999

Reported in : AIR1999SC1232; [1999]237ITR202(SC); JT1999(2)SC504; 1999(2)SCALE334; (1999)3SCC367; [1999]2SCR143

..... whereof commended on 1st april, 1974 and ended on 30th september, 1975, was made after the procedure under section 144b of the income tax act, 1961, had been followed. the order of assessment was reopened by the commissioner of income tax under section 263(1). the commissioner took the view that the assessment order was erroneous and prejudicial to the interest of the revenue ..... in the circumstances of the case, was the tribunal right in holding that the commissioner of income tax had jurisdiction under section 263 of the income tax act to revise the order of the income tax officer passed after obtaining directions from the inspecting assistant commissioner under section 144b of the act ?(ii) whether on the facts and in the circumstances of the case, was the appellate ..... preceding the assessment year: and to the provisions of section 4 which deals with the charge of income tax and reads thus:charge of income-tax.4(1) where any central act enacts the income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject ..... previous year of every person:provided that where by virtue of any provision of this act income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly.(2) in respect of income chargeable under sub-section (1), income-tax shall be deducted at the source or paid in advance, where it is so .....

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Mar 23 1999 (SC)

Premier Cable Co. Ltd. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-23-1999

Reported in : (1999)153CTR(SC)172

..... questions 1 and 5 and, therefore, we do not deal therewith.3. for the purposes of questions 2, 3 and 4, sections 33 and 80j of the income tax act, 1961 (hereinafter referred to as 'the act') need to be quoted:'33. development rebate - (1)(a) in respect of a new ship or new machinery or plant (other than office appliances or road transport ..... circumstances of the case, was the tribunal right in holding that the commissioner had jurisdiction under section 263 of the income tax act to revise the order of the income tax officer passed after obtaining directions from the inspecting assistant commissioner under section 144b of the act ?whether, on the facts and in the circumstances of the case, was the appellate tribunal right in law in ..... year immediately preceding the assessment year; and to the provisions of section 4 of the act which deals with the charge of income-tax and reads thus:'charge of income-tax.-(1) where any central act enacts the income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and ..... previous year, of every person :provided that where by virtue of any provision of this act, income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly.(2) in respect of income chargeable under sub-section (1), income-tax shall be deducted at the source or paid in advance, where it is so deductible or .....

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Mar 23 1999 (SC)

Universal Plast Ltd. Etc. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Decided on : Mar-23-1999

Reported in : (1999)153CTR(SC)95

..... hotel. the lease amount provided separately for running of the building and hire charges for furniture and fixtures. the question that fell for consideration was whether the rent income was business income taxable under the income tax act, 1922? it was held that as the assessee never carried on any business of a hotel in the premises let out or otherwise at all and there ..... is filed by the assessee - universal plast limited - from the judgment and order of a division bench of the calcutta high court in income tax reference no. 17 of 1991 under section 256(2) of the income tax act, 1961 [for short, `the act'] passed on february 6, 1992 [hereinafter referred to as `upl case']. civil appeals nos.__________ of 1999 @ special leave petition c nos ..... the lease; the intention of the appellant was found to go out of business altogether, therefore the income was not assessable as business income. commissioner of income tax, lucknow vs. vikram cotton mills ltd. [1988 (169) i.t.r.597] is again a case arising under the income tax act, 1922. one of the creditors filed a petition in the high court for winding up. the industrial ..... conclusion was reached on the premise that the term `business' as defined in that act was wider than the definition of that term under the income tax act. the minority, however, took a contrary view. in sultan brothers private ltd. vs. commissioner of income tax, bombay city-ii [1964 (51 i.t.r.353)], the assessee constructed a building, fitted it up with furniture and .....

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Mar 24 1999 (SC)

Commissioner of Income-tax, Bangalore Vs. Venkateswara Hatcheries (P) ...

Court : Supreme Court of India

Decided on : Mar-24-1999

Reported in : AIR1999SC1225; [1999]237ITR174(SC); JT1999(2)SC338; 1999(2)SCALE257; (1999)3SCC632; [1999]2SCR177

..... run by the assessee conies within the meaning of the expression 'manufacture or produce articles or things' occurring in section 32a(2) and section 80j of the income tax act (hereinafter referred to as 'the act'). the further question to be decided is whether the assessee is an industrial undertaking'. the appeals excepting civil appeal no. 2596 of 1997 are directed against the ..... 10(27) specifically excluded poultry income from being included in total income. the meaning of total income in section 2(45) of the income tax act is as follows :'total income' means the total amount of income referred to in section 5, computed in the manner laid down in this act.17. section 14(d) of the income tax act deals with one part of the total income, namely, profit and gains ..... of business. section 29 of the income tux deals ..... with deductions from the profit and gains. section 32a is one of the sections dealing with such deductions. therefore, the income from poultry being outside the scope of .....

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