Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Year: 1999 Page 1 of about 4,001 results (0.097 seconds)

Jan 01 1999 (TRI)

Kasturi Lal Dhir Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

Decided on : Jan-01-1999

..... court is of the opinion that loss due to confiscation is nothing but a business loss and same should be allowed under section 10(1) of the income-tax act, 1922.10. the hon'ble punjab & haryana high court got an occasion to discuss the ratio of the decision piara singh (supra), while deciding ..... customs authorities. but the dates were released subsequently on payment of fine. the assessee's claim to deduction under section 10(2)(xv) of the indian income-tax act, 1922, was rejected on the ground that the amount was paid by way of penalty for a breach of the law. an infraction of the ..... . piara singh represented that in case he is engaged in smuggling of gold then he is entitled to deduction under section 10(1) of the income-tax act as a loss incurred in the business.the itat again gave finding of fact that the assessee was carrying on regular smuggling activity which consisted of taking ..... finding of the fact has been that the assessee was carrying on business of smuggling of gold. the allowing of loss under section 37 of the income-tax act, is consequential to the carrying on of the business. in the case reported in 159 itr 689, again finding of the assessing authority was that the ..... that he was not its real owner was on that person. the hon'ble supreme court widened the expression of income mentioned in section 69a of the income-tax act and observed that the meaning of income includes anything which comes in or results in gain. we are of the opinion that under such circumstances and in .....

Tag this Judgment!

Jan 02 1999 (HC)

K. A. Sudesh Vs. Deputy Commissioner of Income Tax

Court : Kerala

Decided on : Jan-02-1999

Reported in : (1999)154CTR(Ker)482

..... company, proposed to sell some property in favour of the petitioners herein. as the sale consideration exceeds rupees two lakhs, as required under section 230a of the income tax act, 1961 (hereinafter referred to as 'the act'), an application was made for the issuance of the certificate which alone would enable the parties to get the document registered. in this case, the application was ..... under section 230a before the first respondent. once such an application is made, the first respondent shall dispose of the same on merits and as per the provisions of the income tax act.the original petition is disposed of as above. ..... made by the petitioners. in the order dated 1-12-1993, the first respondent has expressed his inability to issue a certificate under section 230a of the act unless all the legal requirements for issue of the same are satisfied by the second respondent. aggrieved by this, the present original petition has been filed.3. the learned counsel .....

Tag this Judgment!

Jan 04 1999 (HC)

Noor Mohamed Vs. Mohamed Karmulla and Another

Court : Karnataka

Decided on : Jan-04-1999

Reported in : 1999(2)KarLJ654

..... whether the grant of 18% per annum is fair and reasonable?5. the grant of interest is governed both by the principle of interest act as well as section 34 of the cpc. so far as interest act is concerned, after the amendment, it is the market rate of interest and 18%, in my opinion, is reasonable interest which the defendant is .....

Tag this Judgment!

Jan 05 1999 (SC)

Commissioner of Income Tax Vs. Bhaskar Picture Palace

Court : Supreme Court of India

Decided on : Jan-05-1999

Reported in : JT1999(10)SC563; (1999)9SCC232

..... to the commencement of the afore-quoted order, in which it is, inter alia, stated :11. section under which : 245-d(1) of the income the order is passed tax act 1961.6. in his submission, the application had, therefore, been rejected not only under sub-section (1-a) but also under sub-section (1). ..... orders.p. bharucha, j.1. the batch of cases concerns section 245d of the income tax act, 1961 as it stood prior to 1991 and thereafter, prior to the amendment in 1991 sections 245d(1) and (1-a) read thus: ..... to the same years for which they had applied earlier and the settlement commission entertained these applications. its full bench in birumal gaurishankar jain & co. v. income tax settlement commission found that, having regard to the omission of sub-section (1-a) as aforestated, the settlement commissioner was entitled to do so. the ..... cycle stand and regular show collections were not entered in the regular books of account maintained by the applicant thereby concealing particulars of income. therefore, the objection raised by the commissioner of income tax is sustained for the said years.in regard to assessment years 1983-84 and 1984-85, the settlement commission, in the ..... with on the ground that concealment of particulars of income on the part of the applicant or perpetration of fraud by him for evading any tax or other sum chargeable or impossible under this act, has been established or is likely to be established by any income tax authority, in relation to the case :provided that .....

Tag this Judgment!

Jan 05 1999 (SC)

Commissioner of Income-tax Vs. Bhaskar Picture Palace

Court : Supreme Court of India

Decided on : Jan-05-1999

..... to the commencement of the aforequoted order, in which it is, inter alia, stated :'11. section under which the order is passed : 245d(l) of the income-tax act, 1961'.8. in his submission, the application had, therefore, been rejected not onlyunder sub-section (1a) but also under sub-section (1). the submission hasonly ..... the same years for which they had applied earlier and the settlement commission entertained these applications. its full bench in birumal gaurishankar jain and co. v. income-tax settlement commission , found that, having regard to the omission of sub-section (1a) as aforestated, the settlement commission was entitled todo so. the union ..... 1. this batch of cases concerns section 245d of the income-tax act, 1961, as it stood prior to 1991 and thereafter. prior to the amendment in 1991. section 245d(1) and (1a), read thus :' ..... stand and regular show collections were not entered in the regular books of account maintained by the applicant thereby concealing particulars of income. therefore, the objection raised by the commissioner of income-tax is sustained for the said years.'6. in regard to the assessment years 1983-84 and 1984-85, the settlement commission, ..... with on the ground that concealment of particulars of income on the part of the applicant or perpetration of fraud by him for evading any tax or other sum chargeable or imposable under this act, has been established or is likely to be established by any income-tax authority, in relation to the case : provided that .....

Tag this Judgment!

Jan 05 1999 (TRI)

Hyder Consulting Ltd. Vs. Commissioner of Income-tax

Court : Authority for Advance Rulings

Decided on : Jan-05-1999

Reported in : (1999)236ITR640AAR

..... department.8. it is the contention of hcl that the amounts payable by the government of orissa to hcl for onward payment to scl would not constitute income liable for tax deduction under the indian income-tax act since the amounts are necessarily linked to the amounts claimed by/payable to scl. further, the amounts which are accepted to be paid by the government ..... determine the appropriate proportion of the payments chargeable to tax.the applicant is aggrieved that the income-tax officer (tds), bhubaneswar, has arrived at tax rate of 42.85 per cent. the application was made by the government of orissa ..... limited for the services rendered by stup consultants limited be construed as income of hyder consulting limited, liable for tax to be deducted at source in accordance with the provisions of section 195 of the income-tax act, 1961 (ii) on the facts and in the circumstances of the case, whether the tax rate currently being adopted by the government of orissa for the purpose ..... government of orissa sought clarification from the income-tax department, i.e., the income-tax officer, bhubaneswar, regarding rate of deduction of tax while making the said payments.6. at the time of hearing, counsel for the applicant stated that the reference made by the government of orissa was in terms of section 195(2) of the income-tax act which calls upon the assessing officer to .....

Tag this Judgment!

Jan 06 1999 (HC)

Commissioner of Income-tax Vs. Bharath Sea Foods

Court : Kerala

Decided on : Jan-06-1999

Reported in : [1999]237ITR46(Ker)

..... would also show that the dictum laid down in sterling foods' case : 1986(26)elt3(sc) , has no application to section 80j of the income-tax act. exemption under the section is intended to be an incentive to an assessee who owns a new industrial undertaking. we cannot also lose sight of the ..... same were not marketable--resulted in the bringing into existence of a new commercial product. moreover, in view of item 30 in schedule v of the income-tax act, 1961, which item covered processed (including frozen) fish and fish products, a person who owned machinery or plant engaged in the manufacture or production ..... 92) :'the second point that falls to be considered is whether the assessee is eligible for allowance under section 80j and section 32a of the income-tax act. in the case of the very same assessee the matter came up before us for the assessment years 1976-77 and 1978-79 at the ..... , which is carrying on the business of same nature, is entitled to claim deduction under section 80hh of the income-tax act ?'10. the relevant portion of sections 80j and 80hh of the income-tax act are extracted below :'80j. deduction in respect of profits and gains from newly established industrial undertakings or ships or ..... assessee-company, which is engaged in the business of catching, purchasing, processing and exporting fish, is entitled to claim deduction under section 80j of the income-tax act, 1961. in i.t.rs. nos. 3 and 4 of 1987, the issue is whether the assessee, which is carrying on the business of .....

Tag this Judgment!

Jan 06 1999 (HC)

Dr. C. Balakrishnan Nair and anr. Vs. Commissioner of Income-tax and a ...

Court : Kerala

Decided on : Jan-06-1999

Reported in : (1999)154CTR(Ker)523; [1999]237ITR70(Ker)

..... 10, 1995. the reasons stated for the gap of 14 days is hardly convincing. there is no provision in the criminal procedure code or in the income-tax act or the rules for postponing the search for such a long period. n. subramanian in his book search and seizure stated at page 108 that ..... ' residential premises were searched by a team of officers headed by the second respondent as per the warrant issued under section132 of the income-tax act, 1961, hereinafter referred to as 'the act', on october 27, 1995. the search was provisionally concluded on october 27, 1995, and a panchnama, exhibit p-1, dated ..... the petitioners are true there is no violation of the provisions of the act in view of section 54 of the act. without any violation of the income-tax act the respondents have no jurisdiction to invoke section 158bc of the act depriving the petitioners of the right of regular assessment. the division bench ..... . they have also prayed to quash exhibit p-6 notice issued under section 158bc of the income-tax act and for a direction not to invoke the provisions under chapter xiv-b of the act and also for a further direction to the respondents to permit them to have a regular assessment ..... undisputed facts in this case would lead to an irresistible conclusion, viz., that there were serious lapses andviolation of the provisions of the income-tax rules, the act and the constitutional guarantee of the petitioners.14. the facts and the background support the case of the petitioners, namely, that there is .....

Tag this Judgment!

Jan 06 1999 (HC)

Malayil Bankers Vs. Assistant Commissioner of Income-tax

Court : Kerala

Decided on : Jan-06-1999

Reported in : [1999]236ITR869(Ker)

..... petitioner is a firm carrying on the business of money-lending. in the assessment years 1995-96 and, 1996-97, the petitioner filed the return under section 139 of the income-tax act showing loss for the four years. while the assessment is being processed the first respondent passed an order on december 20, 1996, under section 131(3) of the ..... income-tax act to conduct a survey under section 133a of the income-tax act in the premises of the petitioner and impounded the books as per exhibit-p-2 order. the commissioner of income-tax by exhibit-p-3 order impounded the books of account and issued further orders to freeze ..... the bank accounts of the petitioner. a compulsory audit was ordered under section 142(2a) of the act. in the course of ..... the punjab and haryana high court in raja ram kul-want rai v. asst. cit .4. chapter xiv-b of the act provides a special procedure for assessment of search cases. section 158b defines block period as well as undisclosed income. section 158ba deals with the assessment of undisclosed income as a result of search. this provision empowers the assessing officer to proceed to .....

Tag this Judgment!

Jan 06 1999 (HC)

Indian Charge Chrome Limited Vs. Union of India (Uoi)

Court : Orissa

Decided on : Jan-06-1999

Reported in : 2000(119)ELT12(Ori)

..... without jurisdiction under section 34 i.t. act.'these decisions were taken note of by the apex court in whirlpool corporation v. registrar of trade marks, mumbai, 1998 (8) supreme ..... lay down inflexible rules which should be applied with rigidity in every case which comes up before the court.'another constitution bench decision in calcutta discount co. ltd. v. income tax officer, companies distt. i - air 1961 s.c. 372, laid down :'though the writ of prohibition or certiorari will not issue against an executive authority, the ..... was a factor to be taken into consideration in the matter of granting writs. this was followed by another case, namely, k.s. rashid & sons v. the income tax investigation commissioner, air 1954 s.c. 207, which reiterated the above proposition and held that where alternative remedy existed, it would be a sound exercise of discretion to ..... prohibiting an executive authority from acting without jurisdiction. where such action of an executive authority acting without jurisdiction subjects or is likely to subject a person to lengthy proceedings and unnecessary harassment, the high court will issue appropriate orders or directions to prevent such consequences. writ of certiorari and prohibition can issue against income tax officer acting (1) on application .....

Tag this Judgment!


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