Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Year: 2012 Page 1 of about 2,099 results (0.092 seconds)

Jan 02 2012 (HC)

Commissioner of Income Tax-iii Vs. M/S Madras Electrical Conductors Pv ...

Court : Chennai

Decided on : Jan-02-2012

..... contended that the tribunal had considered all the facts and circumstances of the case and ultimately came to the conclusion that the commissioner of income tax has no jurisdiction to revise the order under section 263 of the income tax act. she has further contended that there was only a lull in the business and therefore the tribunal may also give a finding that the ..... company, hereinafter referred to as the assessee, was engaged in the business of manufacturing and selling of aluminium conductors. on completion of the assessment under section 143(3) of the income tax act for the assessment year 2001-02, it was noticed that the assessee had taken land on sub lease and constructed godowns and getting rental ..... the order and therefore sought to set aside the revisionary order. the income tax appellate tribunal allowed the appeal of the assessee by holding that the commissioner of income tax was not justified in passing a revisionary order under section 263 of the income tax act. challenging the said order, the revenue has preferred the present tax case appeal. 4. the learned counsel for the revenue vehemently contended .....

Tag this Judgment!

Jan 02 2012 (HC)

The Commissioner of Income Tax, A.P.-i,h Vs. M/S. Ajay Automation (P) ...

Court : Andhra Pradesh

Decided on : Jan-02-2012

..... . assistant commissioner of income tax4 and held that despite a specific provision having been introduced in the income tax act (section 80hhf) for the purposes of export or transfer of film software, that did not exclude the provisions of section 80hhc of the ..... is no substantial or material difference.16. at this stage, it is necessary to note that a similar provision was introduced in the income tax act with regard to export or transfer of film software under section 80hhf of the act. while interpreting section 80hhf, the madras high court relied upon an earlier decision of the bombay high court in abdulgafar a. nadiadwala v ..... the ground that computer software recorded on magnetic tapes cannot be considered as "goods" for the purposes of section 80hhc of the act. the commissioner also took note of the fact that section 80hhe was introduced in the income tax act with effect from 1.4.1991 and that section specifically intended to cover exports of computer software.5. the commissioner was, therefore ..... for the revenue that marketable computer software has the attributes of goods for the purposes of sales tax and also for the purposes of the income tax act, particularly section 80hhc thereof.11. this view has also been taken by the madras high court in commissioner of income tax v. superstar music and another3.12. we see no error in the concession given by learned .....

Tag this Judgment!

Jan 02 2012 (HC)

The Commissioner of Income Tax CochIn Vs. Pushpa Vijoy and Another

Court : Kerala

Decided on : Jan-02-2012

..... deposits in banks entitling them for interest on deposits which was periodically credited by the bank in the deposit account. as required under section 194a of the income tax act, the banks recovered tax at source on the interest credited in the deposit account of the respondents-assessees and issued tds certificates to the respondents. though the respondents did not return ..... through the order of the tribunal, what we notice is that though the tribunal has referred to section 199 of the income tax act, they have not considered the scope of the provisions in detail. section 199 of the income tax act has undergone various changes and for reference, we extract hereunder the section as it stood during the relevant assessment years, i ..... section 143(1) of the income tax act wherein the assessee is entitled to credit of tax paid directly or indirectly including payments made by payers who recovered tax and remitted the same under the provisions of chapter xvii of the income tax act. however, section 143(1) of income tax act is subject to section 199 of the act which specifically provides that tax has to be credited based ..... counsel appearing for the respondents referred to the findings of the tribunal with specific reference to section 143(1) of the income tax act and contended that the assessee is entitled to get credit for all payments of tax including tax recovered at source and remitted by the payers in the assessment year following the previous year in which such payment is made .....

Tag this Judgment!

Jan 02 2012 (HC)

Chirawa Investment Ltd Vs. C.i.T. Wb I

Court : Kolkata

Decided on : Jan-02-2012

..... following substantial questions of law;i) whether the tribunal was justified in law in holding that the appellant was not entitled to deduction under section 36(1)(iii) of the income tax act, 1961 in respect of the interest of rs.1,06,319/- paid by it to its holding company on money borrowed for payment of dividend on the preference and equity ..... is borrowed on account of the capital. however, in a case of (commissioner of income-tax, bombay cityiii vs.shree changdeo sugar mills ltd.) reported in 143 itr page 469 it was held that payment of dividend is also one of the parts of the business ..... same is paid in respect of the capital borrowed for the purpose of business or profession but not otherwise. in the case of (s.a.builders ltd.versus commissioner of income-tax (appeals) and another)reported in 288 itr page 1. the apex court has recognised that the deduction in respect of payment of interest should be allowed only when the amount ..... ita no.83 of 200.in the high court at calcutta special jurisdiction (income tax) original side chirawa investment ltd versus c.i.t.wb- i before: the hon'ble justice kalyan jyoti sengupta the hon'ble justice joymalya bagchi date :2. d january, 2012. .....

Tag this Judgment!

Jan 03 2012 (HC)

The Commissioner of Income Tax Visakhapa Vs. M/S.Artos Breweries Ltd., ...

Court : Andhra Pradesh

Decided on : Jan-03-2012

..... amount was spent wholly and exclusively for business purposes so as to be eligible for a deduction under section 37 of the income tax act, 1961 (for short 'the act'). 5. the view of the assessing officer was accepted by the revenue and was not sought to be revised by the commissioner of ..... revenue expenditure. 8. the revenue then preferred an appeal before the income tax appellate tribunal (for short 'the tribunal') and that appeal was rejected by the tribunal. 9. under these circumstances, the revenue has come up in an ..... income tax under section 263 of the act. 6. for the subsequent assessment years, viz., 1983-84 to 1988-89 the assessing officer came to the conclusion that the payments ..... enduring benefit of the business is thus acquired or brought into existence it would be immaterial whether the source of payment was the capital or the income of the concern or whether the payment was made once and for all or was made periodically. the aim and object of the expenditure would determine ..... officer had erred in the view that he had taken. relying on a full bench decision of this court in praga tools ltd. v commissioner of income tax1 the commissioner (appeals) came to the conclusion that the expenditure incurred by the assessee on payment of royalty to mmb was in the nature of .....

Tag this Judgment!

Jan 03 2012 (HC)

Oil Palm India Limited, Represented by Its Managing Director Vs. Assit ...

Court : Kerala

Decided on : Jan-03-2012

..... that filed returns under the agricultural income tax act and remitted tax on income treating the entire income from the sale of palm oil as agricultural income. after reopening of the assessments for the years 1997-98 to 2001-02 the income tax department proceeded to make regular assessments under the income tax act for subsequent years also on that part of the income which is business income from palm oil applying rule 7 ..... assessments for all assessment years in line with the assessments completed by the first respondent under central income tax act and assess only so much of the income attributable operations under the ait act. excess tax if any paid under the ait act should be refunded to petitioner. 7. petitioner will remit tax to the central income tax department for the assessment years 2005-06 onwards based on the central ..... crude palm oil earned by the petitioner to be assessed as 100% agricultural income by the agricultural income tax authorities of the state of kerala. for the first time in 2004 the assessing officer under the income tax act proposed to reopen the assessments completed under the act for bringing to tax, business income from palm oil for the assessment years 1997-98 to 2001-02. however for these .....

Tag this Judgment!

Jan 03 2012 (HC)

Commissioner of Income Tax-vi Vs. Visual Technologies

Court : Delhi

Decided on : Jan-03-2012

..... judgment should be reported in the digest? sanjiv khanna,j: (oral) the present appeal is filed by the revenue under section 260a of the income tax act, 1961 (the act) impugns the order dated 17th march, 2010 passed by the income tax appellate tribunal, delhi (the tribunal) in the ita no.3214(del)2009 for the assessment year 2006-2007. the question relates to deduction of ..... of the order of the tribunal. accordingly, we are inclined to frame the following substantial question of law:- "whether the income tax appellate tribunal is right in allowing the deduction of rs.80,63,017 under section 80-ic of the income tax act,1961?.".8. we have heard counsel for the parties on the said question and proceed to answer the same..9. the ..... $~10 * in the high court of delhi at new delhi + ita 1873/2010 % date of decision : 3rd january, 2012. commissioner of income tax-vi ..... appellant through mr. sanjeev rajpal, advocate versus visual technologies india pvt ltd ..... respondent through mr. salil kapoor, mr. sanat kapoor, mr. ankit gupta and mr. vikas jain, advocates coram: ..... rs.83,60,017/- claimed by the assessee under section 80ic of the act..2. the tribunal in the impugned order dated 17th march, 2010 has upheld the .....

Tag this Judgment!

Jan 03 2012 (HC)

Dlf Ltd Vs. Securities and Exchange Board of

Court : Delhi

Decided on : Jan-03-2012

..... does not mean a purely subjective satisfaction on the part of the income-tax officer. the belief must be held in good faith : it cannot be merely a pretence. to put it ..... the court to investigate. in other words, the sufficiency of the grounds which induced the income-tax officer to act is not a justiciable issue. it is of course open for the assessee to contend that the income-tax officer did not hold the belief that there had been such non-disclosure. in other ..... the purpose of the section. to this limited extent, the action of the income-tax officer in starting proceedings under s.34. of the act is open to challenge in a court of law. [see calcutta discount co. ltd., v. income-tax officer companies district i, calcutta and anr., 41 itr 191" (emphasis supplied).. ..... words, the existence of the belief can be challenged by the assessee but not the sufficiency of the reasons for the belief. again the expression "reason to believe" in section 34 of the income-tax act ..... to disclose fully and truly all material facts necessary for his assessment. if either of these conditions is not fulfilled, the notice issued by the income tax officer would be without jurisdiction. the important words under section 147(a) are "has reason to believe" and these words are stronger than the .....

Tag this Judgment!

Jan 04 2012 (HC)

Commissioner of Income Tax-i Vs. M/S.Tube Investments of India Ltd-i

Court : Chennai

Decided on : Jan-04-2012

..... . the next question is, whether, by virtue of the provisions under section 32 of sica, the scheme will have overriding effect on the provisions of the section 43b of the income tax act. for consideration of the said issue, it may be pointed out that in para 4.2.4 of the rehabilitation scheme formulated by the board in its order dated 14 ..... have overriding effect over the provisions of the income tax act in regard to the matters covered in circular no.523 dated 05.10.1988. 7. a reading of both the circulars would show that in the event a scheme has ..... under section 17(2). hence, it was clarified that the orders passed by the bifr under section 17(2) will not have the effect of overriding the provisions of the income tax act. however, subsequently, by circular no.576 dated 31.08.1990, it was further clarified that once the scheme is sanctioned under section 18 of sica by the board, it will ..... 576 are applicable to the facts of the case? secondly, whether the provisions of section 32 of sica would override the effect on the provisions of section 43b of the income tax act ? 6. as far as the said two circulars are concerned, having noticed that section 17(3) of sica excluded the application of sections 41(1), 79 and 115j of the .....

Tag this Judgment!

Jan 04 2012 (HC)

The Commissioner of Income Tax and Another Vs. M/S Infosys Technologie ...

Court : Karnataka

Decided on : Jan-04-2012

..... detail. 7. mr. indra kumar, mainly submits that the tribunal has committed an error in law in taking the view that the commissioner was acting beyond the limits of section 263 of the income tax act, 1961 [for short, the act] because the tribunal thought the commissioner had another point of view other than what the assessing authority had and therefore, set aside the order ..... in the case of commissioner of income tax vs electro house [(1971) 82 itr 824 (sc)] and in particular following the passage; section 33b(1) reads ..... assuming that in a situation of this nature the commissioner has acted without jurisdiction is an error in law committed by the tribunal and that requires correction. 8. in this regard mr. indra kumar has drawn our attention to the corresponding provision in the income tax act, 1922 namely section 33(b) of that act which had come in for interpretation before the supreme court ..... : the commissioner may call for and examine the record of any proceeding under this act and if he considers that any order passed therein by the income-tax officer is erroneous in so far as it is prejudicial to the interests of the revenue, he may, after giving the assessee an opportunity of .....

Tag this Judgment!


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