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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 1 of about 270,425 results (0.416 seconds)

Jun 29 2020 (SC)

The Commercial Tax Officer and Anr. Vs. Mohan Brewaries and Distriller ...

Court : Supreme Court of India

..... need and essence of the provisions when such circular was issued contemporaneously by the central board of direct taxes with introduction of the provisions of section 115-vf and 115-vg in the income tax act, 1961. as regards the circular, this court observed as under :- 30. we would also ..... like to refer to circular no.05/2005 dated 15-7-2005 explaining the need and essence of the introduction of these provisions which was issued contemporaneously by the central board of direct taxes ..... hotel balaji makes it clear that different provisions for levy of purchase tax in various state sales tax enactments, like those contained in gujarat sales tax act, 1969, uttar pradesh sales tax act, andhra pradesh general sales tax act, 1957 and haryana sales tax act19 amongst others, came up for consideration before this court in ..... particularly on 13 the observations occurring in a few paragraphs of said decision in relation to the provisions contained in the haryana general sales tax act, 1973.9 10.1.1. the learned senior counsel has also contended that the revenue itself had accepted such factual and legal decision ..... contents, it had no liability to tax under section 7-a of the act; and such clarifications remain binding on the revenue, as rightly held by the high court. 11.1. further, with reference to the decisions of this court in the cases of commissioner of income tax, kochi v. trans asian shipping .....

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Jun 15 2020 (SC)

The Inspector General of Registration Vs. K. Baskaran

Court : Supreme Court of India

..... of superintendence and correction in appropriate cases, it is exercisable even suo motu as is clear from the numerous statutory provisions relating to revision found in various acts and regulations such as the civil procedure code, criminal procedure code, income tax act, etc. the jurisdiction of suo motu revision is not cribbed and cabined or confined by conditions and qualifications. the purpose of such an amplitude being given ..... initiated. it is the correctness of that view which is now in issue.32. while considering the nature of power conferred by section 20(3) of the bengal finance (sales tax) act, 1941 where the commissioner upon application or of his own motion could revise any assessment or civil appeal no.2586 of 2020 @ slp (c)no.15790 of 2019 etc. the ..... of the order under section 22-a or separately as such under section 18-a?. (d) the question was considered as under: 14. section 18-a of the act prohibits excess collection of tax by an assessee. if any person civil appeal no.2586 of 2020 @ slp (c)no.15790 of 2019 etc. the inspector general of registration, tamil nadu & ors. vs ..... madras:13. the following observations made by ramaswami, j.in east asiatic co. (india) ltd. v. state of madras37 are also relevant the purposes of this act are twofold viz. the levy of a general tax on the sale of goods to supplement the lost revenues and for promoting the general public good; and secondly, to see that this is done under .....

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Mar 19 2020 (SC)

Rajasthan State Electricity Board Jaipur Vs. The Dy. Commissioner of I ...

Court : Supreme Court of India

..... mistake the assessee claimed 100% depreciation of rs. 333,77,70,317/- on written down value of assets instead of 75% depreciation. under the unamended section 32(2) of the income tax act, 1961 the assessee was entitled to claim 100% depreciation. however, after the amendment the depreciation could only be 75%. the assessee supported the returns with provisional revenue account, balance sheet ..... this proposition, we refer to the judgment in k.p. varghese v. ito. the court in that case was concerned with the correct construction of section 52(2) of the income tax act: (k.p. varghese case, scc p. 179, para 4 : scr p.639) 52. (2) without prejudice to the provisions of sub-section (1), if in the opinion of the ..... bench, jaipur by which d.b. civil special appeal (writ) no.837 of 1993 filed by the revenue has been allowed upholding the demand of additional tax under section 143(1-a) of the income tax act, 1961.2. brief facts necessary to be noted for deciding this appeal are: the assessee is a government company as defined 2 under section 617 of the ..... vires of section 143(1-a) has been repelled by different high courts and this court. section 143(1-a) has been inserted in the income tax act so that the assessee may not be able to evade tax by resorting to the method of showing loss first and then reducing the loss. learned counsel submits that the division bench of the high 7 .....

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Mar 06 2020 (SC)

Indore Development Authority Vs. Manoharlal and Ors. Etc.

Court : Supreme Court of India

..... it in express berms and would not merely have repealed it by the second sub-section. in the first sub-section mention is made of other sections of the income tax acts, but not of s.108. it must be taken, he argued, that parliament had in mind the difficulties created by s. 108, which were pointed out ..... produce and trading co. ltd. vs. the c.i.t., west bengal, calcutta74, was relied upon in the discussion mentioned above, where provisions of section 23a of the income tax act, 1922 and the explanation (b)(ii) and (iii) came up for consideration. this court ruled with respect to "or" and held that it had to be read as ..... of the section and does not extend to a charge made in respect of profits derived from foreign possessions or securities under s.108 of the income tax act, 1842. in support of this argument he relied upon the express reference in the first sub-section of s.32 to s.106, and s.146 of ..... , such a tender or offer would be sufficient compliance with the statute. the benares state bank ltd. v. the commissioner of income tax, lucknow144, was decided in the context of section 14(2)(c) of the income tax act, 1922. it was observed that "paid" under section 16 does not contemplate actual receipt of the dividend by the member of ..... the income tax act, 1842, upon the omission of any reference in this sub-section to s.108, and upon the repeal in sub- s.2 of s.32 of .....

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Mar 05 2020 (SC)

M/S. Super Malls Private Limited. Vs. Principal Commissioner of Income ...

Court : Supreme Court of India

..... -12, huda, karnal regd. office at 51, transport centre, punjabi bagh, new delhi under section 153c of the income tax act, 1961. the jurisdiction of this case has been assigned to this office u/s 127 of the income tax act, 1961 by the worthy commissioner of f. income tax-iii no.citiii/delhi/centralization/1012-1312455 dated 15.01.2013. new delhi vide order by virtue of ..... stated and considered. the facts in nutshell are as under:2. 1 by virtue of the authorization of the director of income tax (investigation), chandigarh, a search and seizure operation under section 132(1) of the income tax act, 1961 (hereinafter referred to as the act ) was carried out on 8/9.04.2010 at the residential/business premises of shri tejwant singh and shri ved ..... the authorization of the director of income tax (investigation), chandigarh, a search & seizure operation u/s 132(1) of the act was carried out on 08/09.04.2010 ..... prakash bharti group of companies at karnal, panipat and delhi. a survey under section 133a of the act was also carried out at the business premises of .....

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Mar 02 2020 (SC)

Assistant General Manager State Bank of India Vs. Radhey Shyam Pandey

Court : Supreme Court of India

..... emphasis supplied) banks are also requested to take special note of the following:1. section 10(10c) of the income tax act read with rule 2ba.2. as per the amendments brought in by the finance act 2000, so long as the bank complies with the rules framed under section 10(10c), prior approval from the chief ..... be deducted at source in respect of ex gratia exceeding rs. 5.00 lakhs or such other ceiling as may be prescribed under the income tax act on the relevant date. the benefits were as under: 6. other benefits (a) gratuity as payable under the extant instructions on the relevant ..... ex gratia exceeding rs.5.00 lakhs or such other ceiling as may be prescribed under the income tax act.4. only completed years of service will be reckoned for arriving at the minimum eligible service. subject to this, fraction of service ..... commissioner or director general of income tax, as the case may be, is not required for vrs.3. income tax shall be deducted at source in respect of ..... a private individual, is limited in its ability to contract by the constitution. the federal contracting power is based upon the constitution's authorisation of these acts 'necessary and proper' to the carrying out of the functions which it allocates to the national government. unless the objectives sought by terms and conditions in .....

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Feb 19 2020 (SC)

M/S. Ananda Social and Educational Trust Vs. The Commissioner of Incom ...

Court : Supreme Court of India

..... , the trust which applied for registration under section 12aa of the income tax act, 1961, was found not to have spent any part of its income on charitable activities. the commissioner of income tax, therefore, refused the registration of trust. the income tax appellate tribunal reversed the decision of the commissioner of income tax on the basis of the judgment of the delhi high court in ..... section 12aa of the act reads as follows : 12aa. procedure for registration.-. (1) the [principal commissioner or]. commissioner, on receipt of ..... no.4702/2014 this appeal has been preferred by the appellant - director of income tax against the impugned judgment and order passed by the delhi high court holding that a newly registered trust is entitled for registration under section 12aa of the income tax act, 1961 (for short, the act ) on the basis of its objects, without any activity having been undertaken. ..... have already been in existence and should have undertaken any activities before making the application for registration. in brief, section 12aa of the act empowers the principal commissioner or the commissioner of the income tax on receipt of an application for registration of a trust to call for such documents as may be necessary to satisfy himself about the .....

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Feb 07 2020 (SC)

Maruti Suzuki India Ltd. (Earlier Known as Maruti Udyog Ltd.) Vs. Comm ...

Court : Supreme Court of India

..... purchaser and not the liability to the same.18. we thus, conclude that the unutilised credit under modvat scheme does not qualify for deductions 18 under section 43b of the income tax act.19. shri ganesh has relied on judgment of this court in eicher motors ltd. and another versus union of india and others, (1999) 2 scc361 and submits that facility of ..... the said payments are made by the assessee to its suppliers, they should be treated as payments of excise duty which straightaway qualify for deduction under section 43b of the income tax act, irrespective of whether or when the modvat credit arising from such payments is utilised to make payment of excise duty on the products manufactured by the assessee. the 6 high ..... which represented unutilised modvat credit without incurring the liability of such payment is not an allowable deduction under section 43b. the assessee filed an appeal under section 260a of the income tax act in the high court. the high court answered question nos.(ii) and ((iii) relating to the above noted disallowance in favour of the revenue. aggrieved by the judgment of the ..... relevant accounting year ?. (iii) whether the itat has committed an error of law in upholding the disallowance of rs.3,08,99,171/ in respect of sales tax recoverable account, under section 43b of the income tax act ?. 5 4. we have heard shri s. ganesh, learned senior counsel for the appellant assessee and shri arijit prasad, learned senior counsel for the revenue.5 .....

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Jan 16 2020 (HC)

M/S Swabhimani Souharda Credit Co Operative Ltd Vs. Government of Indi ...

Court : Karnataka

..... knocked at the doors of writ court in substance for a prayer that they are entitled to seek deduction in respect of their income in terms of the scheme envisaged under section 80p of the income tax act, 1961 (hereafter 1961 act), on the premises that they too are a 4 cooperative society, on par with those registered under the provisions of karnataka co ..... circumstances, these writ petitions succeed; a declaration is made to the effect that the entities registered under the karnataka souharda sahakari act, 1997 fit into the definition of co-operative society as enacted in sec.2(19) of the income tax act, 1961 and therefore subject to all just exceptions, petitioners are entitled to stake their claim for the benefit of sec.80p ..... made at the bar, the following question of law arises for consideration: whether an entity registered under the karnataka souharda sahakari act, 1997 fits into the definition of co-operative society as enacted by sec. 2(19) of the income tax act, 1961 for the purpose of section 80p thereof?.5. having heard the learned counsel for the parties and having perused the ..... two legislations relating to cooperative societies in the state of karnataka viz., the karnataka co-operative societies act, 1959 & the karnataka souharda sahakari act, 1997; the entities registered under the 1997 act also answer the definition of cooperative society enacted in sec. 2(19) of the income tax act 1961 and therefore, they are entitled to seek the benefit of sec.80p thereof; the learned .....

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Jan 07 2020 (SC)

m.e. Shivalingamurthy Vs. Central Bureau of Investigation, Bengaluru

Court : Supreme Court of India

..... rules were made, was different.23. in the aforesaid case, the question came to be decided in a reference under section 66 of the income tax act, 1922. one of the questions which fell for decision was the effect of there being no previous sanction of the government under rule 37 for ..... the judgment of the division bench of the high court in sree ramakrishna mining company v. commissioner of income-tax, mysore1. thereafter, reliance is placed on decisions which were rendered under the indian stamp act, 1 1966 scc online kar 73 / ilr1966mys. 1945 11 1899 for the proposition that an instrument ..... this letter. it is the case of the prosecution that having regard to rule 37 of the rules, it was incumbent upon the appellant, before acting upon the reconstitution of the firm, to obtain the previous sanction of the state government. the charge witnesse-cw24- d. hanumantha, undoubtedly, has ..... , for short). there are various allegations regarding other accused. as far as appellant is concerned, it is alleged further in the charge-sheet that the acts of the accused, seven in number, including the third accused (appellant), constitutes criminal offences punishable under sections 120b, 420, 379, 409, 447, 468 ..... which was also approved and recommended by the additional director and put up to the appellant for orders. appellant is alleged to have acted in pursuance to the 2 criminal conspiracy and abused his official position with a dishonest and fraudulent intention to cheat the government of karnataka .....

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