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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 1 of about 263,910 results (0.770 seconds)

May 08 2019 (SC)

M/S. Steel Authority of India Ltd. (Unit Bhilai Steel Plant) Ispat Bha ...

Court : Supreme Court of India

..... jurisdiction.30. we are of the view that the appellants are not justified in seeking to derive support from the judgments rendered by this court under the income tax act. the impact of taxing of income under the income tax act would not be apposite for considering the question which arises in these cases which is whether interest can be levied under section 11ab of the ..... purpose of reaching that result closed accounts could be reopened. whether this principle is justified in the english law, it has no place under the indian income tax act. when an income-tax officer proceeds to include a particular income in the assessment, he should ask himself inter alia, two questions, namely, (i) what is the system of accountancy adopted by the assessee?. and ( ..... any equitable considerations can make any difference to the position which rests entirely on a strict interpretation of the provisions of section 4(1)(a) of the income tax act. 27. in commissioner of income tax, madras v. a. gajapathy naidu, madras air1964sc1653 a bench of three learned judges had to deal with the following factual scenario. the respondent had entered into a ..... payment of duty under the head short paid .6) the effect of decisions under the income tax act relating to accrual of income and the impact of accrual of income under the income 10 tax act on the liability under section 11ab of the act having regard to the statutory scheme under the act and the rules.8. before we proceed to deal with the matter in greater detail .....

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May 01 2019 (SC)

Ryatar Sahakari Sakkarre Karkhane Niyamit Vs. Asst. Commissioner of In ...

Court : Supreme Court of India

..... high court by which a bunch of appeals, some filed by the assessee and some filed by the commissioner of income tax (revenue) under section 260 a of the income tax act, 1961(hereinafter referred to as the act ) were disposed of.4. so far as the appeals filed by the assessee were concerned, they were dismissed and ..... so far as the appeals filed by the commissioner of income tax were concerned, they were allowed. the assessee has felt aggrieved ..... .4515 4524 of2019(arising out of s.l.p.(c) nos.14053 14062 of 2017) ryatar sahakari sakkarre karkhane niyamit .appellant(s) versus asst. commissioner of income tax c 1 & ors. .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. these appeals are filed against the final judgment and order dated ..... frame any question as required under section 260 a (3) of the act.10. this court recently examined this question in civil appeal no.3968 of 2019 arising out of s.l.p.(c) no.29524 of 2017 (pr. commissioner of income tax central 2 vs. m/s a.a. estate pvt. ltd.) decided ..... framed were not involved in the appeal and this the respondent could urge by taking recourse to sub section (5) of section 260 a of the act. but this stage in this case did not arise because as mentioned above, the high court neither admitted the appeal nor framed any question as required .....

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Apr 30 2019 (SC)

Jk Jute Mill Mazdoor Morcha Vs. Juggilal Kamlapat Jute Mills Company L ...

Court : Supreme Court of India

..... . v. canara bank, (2018) 9 scc322[ canara bank ].. this judgment dealt with the expression established by or under a central, state or provincial act contained in section 194-a(3)(iii) of the income tax act, 1961. after exhaustively reviewing the case law on the subject, this court came 10 to the conclusion that the noida authority was established as an authority ..... under the state act. while dealing with several judgments of this court, the court, in paragraphs 20, 24, and 25, followed judgments stating that a ..... 3(23). this being the case, entities such as companies, trusts, partnerships, and limited liability partnerships are all entities governed by the companies act, the indian trusts act, and the partnership act, which are not established under those acts in the sense understood in canara bank (supra) and the judgments followed by it. the context, therefore, in which the phrase established under ..... substantive rights and substantial justice. the humanist rule that procedure should be the handmaid, not the mistress, of legal justice compels consideration of vesting a residuary power in judges to act ex debito justitiae where the tragic sequel otherwise would be wholly inequitable. justice is the goal of jurisprudence processual, as much as substantive. 29. in state of punjab v .....

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Apr 16 2019 (SC)

Pr. Commissioner of Income Tax Central 2 Vs. M/S a.a. Estate Pvt. Ltd

Court : Supreme Court of India

..... assessment year 2008 09.6. on 24.12.2009, the assessing officer (for short, the ao ) completed the assessment under section 143(3) read with section 153a of the income tax act, 1961 (hereinafter referred to as the act ) and determined the total income at rs.7,77,49,790/ .7. on 22.09.2010, the ao issued a notice under section 148 of the ..... dated 22.09.2010 ?. (ii) whether any case of escaped assessment within the meaning of section 147 read with section 148 of the act for the assessment year in question is made out by the 9 commissioner of income tax on the basis of the reasons set out in the notice ?. (iii) whether a case of presumption as contemplated under section 132(4a ..... the itat. by order dated 05.02.2014, the tribunal allowed the appeal and set aside the order of the cit (appeals).14. the commissioner of income tax felt aggrieved and filed appeal before the high court under section 260 a of the act. by impugned order, the high court dismissed the appeal and affirmed the order of the tribunal giving rise to filing ..... is remanded to the high court for deciding the appeal filed by the commissioner of income tax mumbai afresh on merits as provided under section 10 260 a(4) of the act to answer the three questions framed by this court under section 260 a(3) of the act.30. the high court will decide the appeal uninfluenced by any observations made in the .....

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Apr 09 2019 (SC)

M/S. d.j. Malpani Vs. Commissioner of Central Excise, Nashik

Court : Supreme Court of India

..... transaction. this court page 8 of 18 considered the nature and character of dharmada in bijli cotton mills (supra). that case arose under the income tax act. the assessee used to realise certain amounts on account of dharmada from his customers on sales of yarn and bales of cotton. the rate ..... be included in the assessable value.7. in addition, the appellant contended that this court has clearly held in the case of the commissioner of income tax (central) delhi, new delhi vs. bijli cotton mills (p) ltd. hathras, district aligarh3 that amounts received for dharmada and earmarked for charitable ..... trust for charitable purposes.16. the high court, however, held that the impugned amounts paid as dharmada were never the income of the assessee and assessee was merely acting as a conduit for passing on the amounts to the objects of charity. these amounts were never treated as trading receipts ..... purposes are amounts received by the assessee under an obligation to spend the same for charitable purposes. therefore, these receipts cannot be regarded as income of the assessee.8. on noticing the above contentions, a division bench of this court vide order dated 29.7.2015 has referred the ..... appellant has come in appeal against the order of the central excise and service tax appellant tribunal (for short cestat ) dated 04.04.2007. the respondent manufactured goods falling under chapter 72 of the central excise tariff act, 1985. the respondent manufactured pig iron and hr coil sheets. while selling the .....

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Apr 08 2019 (SC)

Pr. Commissioner of Income Tax 6 Vs. Nokia India Pvt. Ltd.

Court : Supreme Court of India

..... order, the division bench of the high court dismissed the revenue's (appellant herein) appeal filed under section 260 a of the income tax act, 1961 (hereinafter referred to as the act ) on the ground that it did not involve any substantial question of law within the meaning of section 260 a of the ..... the supreme court of india civil appellate jurisdiction civil appeal no.3450 of2019(arising out of s.l.p.(c) no.32222 of 2017) pr. commissioner of income tax 6 .appellant(s) versus nokia india pvt. ltd. .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. this appeal is filed ..... act.5. in other words, the high court was of the view that since the appeal did not involve any substantial question of law, it deserves dismissal in limine.6. the appellant is the revenue (commissioner of income tax) and the respondent is an assessee. the ..... issue arises out of an assessment year (1999 2000).7. the issue essentially relates to legality and correctness of the notice issued by the assessing 2 officer (ao) to the respondent under section 148 of the act and to the consequential determination ..... be answered by the high court on their respective merits while deciding the appeal filed by the revenue (appellant herein) under section 260 a of the act.13. we are, therefore, of the view that such order is not legally sustainable in law and hence deserves to be set aside.14. in .....

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Mar 15 2019 (SC)

Principal Commissioner of Income Tax 8 Vs. M/S Yes Bank Ltd

Court : Supreme Court of India

..... 2008, the question arose as to whether the respondent assessee(bank) was entitled to claim deduction under section 35 d of the income tax act, 1961 (for short, the act ) for the assessment year in question. in other words, the question arose as to whether the respondent bank is an industrial undertaking so ..... department) in the high court under section 260 a of the act.8. by impugned order, the high court dismissed the appeal after hearing both the parties giving rise to filing of ..... 1 3. this appeal involves a short point as would be clear from the facts stated infra.4. the appellant is the union of india (income tax department) and the respondent bank is the assessee.5. in the course of assessment proceedings of the respondent assessee(bank) for the assessment year 2007 ..... court of india civil appellate jurisdiction civil appeal no.3148 of2019(arising out of s.l.p.(c) no.7118 of 2018) the principal commissioner of income tax 8 .appellant(s) versus m/s yes bank ltd. .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. this appeal is ..... act which resulted in passing of an adverse order dated 14.11.2011 by the commissioner.7. this gave rise to filing of the appeal by the respondent before the itat against the order of the commissioner. by order dated 05.12.2014, the itat allowed the appeal which gave rise to filing of the appeal by the revenue (income tax .....

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Mar 12 2019 (SC)

Commissioner of Income Tax Jaipur Vs. M/S Gopal Shri Scrips Pvt Ltd

Court : Supreme Court of India

..... set aside. the case is remanded to the high court for deciding the appeal afresh on merits in accordance with law keeping in view the relevant provisions of companies act and the income tax act uninfluenced by any observations made by us on merits.18. indeed, having formed an opinion to remand the case for the reasons mentioned above, we refrain ourselves from making ..... court was wrong in dismissing the appeal as having rendered infructuous.13. the high court failed to notice section 506(5) proviso (a) of the companies act and further failed to notice chapter xv of the income tax act which deals with "liability in special cases" and its clause (l) which deals with "discontinuance of business or dissolution".14. the aforementioned two provisions, namely ..... out of which this appeal arises.5. the appellant herein filed an appeal under section 260 a of the income tax act, 1961(hereinafter referred to as the act ) in the high court of rajasthan (jaipur bench) against the order dated 28.04.2000 of income tax appellate tribunal (itat) in ita no 226/jp/1999.6. by impugned order, the high court dismissed the appeal ..... 5 15. these provisions provide as to how and in what manner the liability against such company arising under the companies act and under the income tax act is required to be dealt with.16. since the high court did not decide the appeal keeping in view the aforementioned two relevant provisions, the impugned order is not legally .....

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Mar 05 2019 (SC)

Principal Commissioner of Income Tax(central) 1 Vs. Nra Iron and Steel ...

Court : Supreme Court of India

..... being unrebutted can be used against him by holding that it is a income nature. while receipt of an the considering assessee, cannot, however, act unreasonably the explanation of the department ii. in cit v. p. mohankala9 this court held that: (a) a bare reading of section 68 of the income- tax act, 1961, suggests that (i) there has to be credit of amounts in the ..... -called investor companies established the source of funds from which the high share premium was invested. v. the mere mention of the income tax file number of an investor was not sufficient to discharge the onus under section 68 of the act. 25 13. the lower appellate authorities appear to have ignored the detailed findings of the ao from the field enquiry and ..... account to show that the entire amount had been paid through normal banking channels, and hence discharged the initial onus under section 68 of the act, for establishing the credibility and identity of the shareholders.5. the revenue filed an appeal before the income tax appellate tribunal (hereinafter referred to as itat ). the itat dismissed the appeal, and confirmed the order of the ..... act, 2012) read as follows: in 68. cash credits- where any sum is found credited the book of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the assessing officer, satisfactory, the sum so credited may be charged to income-tax .....

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Mar 05 2019 (SC)

c.i.t Bombay Vs. Tasgaon Taluka s.s.k.ltd.

Court : Supreme Court of India

..... adjustment of rs.2,02,242-/ relatable to section 40a (3) of the act. thereafter the assessee filed a revised return wherein business loss was shown to the tune of ..... of income for the assessment year 1998-99 declaring nil; income. in the return, the assessee computed carry forward loss of rs.40,00,339/- and unabsorbed depreciation of rs.1,67,26,665/-. the return was processed under section 143(1) (a) of the income tax act, (hereinafter referred to as the act ), making ..... the appeal preferred by the department by observing that the question is covered by the judgment of the high court in the case of commissioner of income tax vs. manjara shetkari sahakari sakhar karkhana limited, reported in (2008) 301 i.t.r. 191 (bom.). hence, the present appeals by the ..... are being disposed of together, by this common judgment and order.3. for the sake of convenience, civil appeal no.8890 of 2012 (commissioner of income tax, bombay vs. tasgaon taluka sahakari sikhar karkhana limited) is treated and considered as a lead case, and therefore, the facts from the said appeal are ..... its members/non-members above the smp price/price determined under clauses 3 & 5a of the control order, 1966, as income.5. on an appeal, the learned commissioner of income tax (appeals), relying upon and considering the decision of a special bench, mumbai itat in the case of manjara shetkari sakhar .....

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