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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: allahabad Year: 1999 Page 1 of about 217 results (0.023 seconds)

Dec 20 1999 (HC)

Commissioner of Income-tax Vs. Brahma Swarup and Sons

Court : Allahabad

Decided on : Dec-20-1999

Reported in : [2001]253ITR604(All)

..... rajah v. cwt : [1997]225itr561(sc) , in which it was held that for the purpose of section 171 of the income-tax act and section 20 of the wealth-tax act, the joint property should be partitioned among various members in definite portions or by metes and bounds. that was a case where ..... the hindu undivided family, or both. thus, the income-tax act recognises a partial partition which may be partial in so far as the persons separating are concerned, it may also be partial so far as ..... is also not apposite to the facts and circumstances of the present case.8. clause (b) of the explanation to section 171 of the income-tax act defines 'partial partition' to mean a partition which is partial as regards the persons constituting the hindu undivided family, or the properties belonging to ..... was held that where the assets were not divided by metes and bounds, the partition could not be recognised for the purposes of the income-tax act. in that case also there was only an ascertainment of share of the various persons in certain properties and it was admitted by the assessee ..... hundred only).'5. the assessing officer accepted the partition by passing an order dated february 5, 1975, under section 171 of the income-tax act, 1961. however, the commissioner acting under section 263 set aside the assessing officer's order finding it to be erroneous and prejudicial to the interests of the revenue. .....

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Dec 17 1999 (HC)

Commissioner of Income Tax Vs. Sir Padampat Singhania

Court : Allahabad

Decided on : Dec-17-1999

Reported in : [2000]111TAXMAN223(All)

..... court:'whether, on the facts and in the circumstances of the case and on a proper interpretation of rule 3 of the income tax rules, 1962 and section 2(24)(iv) of the income tax act, 1961, the tribunal was justified in holding that the value of the perquisite of free imported car with chaufeur provided to the ..... at rs. 6,600 in both the years. that said sum was arrived at by determining the value of the perquisite in accordance with rule 3 of the income tax rules, 1962. the assessing officer, however, did not accept the same. he found that the assessee was not an employee of the company and, therefore, ..... respect of persons whose income is chargeable under the head `salaries'. it was, thus, contended on behalf of the commissioner that the said rule applies only to an emplolyee even ..... a substantial interest in the company ... is includible in such director's income. this proposition is not in dispute and it was also not disputed that rule 3 in terms applies to the determination of the perquisite value only in ..... and the tribunal following its order for the assessment year 1976-77, reduced the value to rs. 6,600.4. under section 2(24)(iv) of the act, the value of any benefit or perquisite, whether convertible into money or not, obtained from a company either by a director or by a person who has .....

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Dec 15 1999 (HC)

Vinod Kumar Bhalotia Vs. State of U. P. and Others

Court : Allahabad

Decided on : Dec-15-1999

Reported in : 2000(1)AWC564

..... air 1969 sc 430, the supreme court while considering the powers conferred on income-tax appellate tribunal by sections 254 and 255 of income-tax act observed as under :'it is a firmly established rule that an ..... express grant of statutory power carries with it by necessary implication the authority to use all reasonable means to make such grant effective.....when section 254 confers appellate jurisdiction, it impliedly grants the power of doing all such acts ..... of section 15 of the act at the instance of a third party who is a person aggrieved, it will also have power to pass interim order like stay of the operation of the ' order of the vice-chalrman or slaying further construction or development. in income-tax officer v. mah knnhi, ..... wrongly refused him something or wrongfully affected his title to something. it would also mean a person who has been prejudicially affected by any act or omission of an authority although he may have no proprietary or even fiduciary interest in the subject-matter thereof. a person who ..... any person or body unless permission for such development has been obtained in writing from the vice-chairman in accordance with the provisions of the act. development has been defined in section 2 (e) and it means the carrying out of building, engineering, mining or other operations in, .....

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Dec 15 1999 (HC)

Saraya Sugar Mills (Pvt.) Ltd. Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Dec-15-1999

Reported in : [2000]246ITR509(All); [2002]120TAXMAN411(All)

..... interest calculated at the same rate at which the moneys had been borrowed from the banks and to determine this the tribunal remitted the matter back to the commissioner of income-tax (appeals). in the question as aforesaid, it is not in dispute that the interest proportionate to the interest-free advances made to the directors is disallowable. in fact it has ..... at the same rate at which interest was paid by the assessee-company on the loans taken by it cannot be allowed as a deduction in working' out the business income of the assessee-company ?'2. we have heard sri shambhu chopra, learned counsel for the assessee, and sri a.n. mahajan, learned standing counsel for the respondent.3. the facts ..... been so held by this court in the assessee's own cases in cjt v. saraya sugar mills (p.) ltd. : [1992]193itr575(all) and cit v. saraya sugar mills (p.) ltd. : [1993]201itr181(all) that part of the interest paid to the bank can be disallowed to the extent to which the money has not ..... 1. at the instance of the assessee, the income-tax appellate tribunal, allahabad, has referred the following question stated to be of law and to arise out of its order dated september 28, 1981, passed in ita no. 924 (all) .....

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Dec 15 1999 (HC)

Saraya Sugar Mills (P) Ltd. Vs. Commissioner of Income Tax

Court : Allahabad

Decided on : Dec-15-1999

Reported in : [2001]246ITR509(All)

at the instance of the assessee, the income tax appellate tribunal, allahabad, has referred the following question stated to be of law and to arise out of its order dated 28-9-1981, passed in ita no. 924 (all) ..... at the same rate at which interest was paid by the assessee-company on the loans taken by it cannot be allowed as a deduction in working out the business income of the assessee-company ?'2. we have heard sri shambhu chopra, learned counsel for the assessee, and sri a. n. mahajan, learned standing counsel for the revenue.the facts of ..... -free advances made to the directors is disallowable. in fact it has been so held by this court in the assessee's own cases in cit v. saraya sugar mills (p) ltd. : [1992]193itr575(all) and cit v. saraya sugar mills (p) ltd. : [1993]201itr181(all) that part of the interest paid to the bank can be disallowed to the extent to .....

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Dec 14 1999 (HC)

Commissioner of Income-tax Vs. Kesho Ram and ors.

Court : Allahabad

Decided on : Dec-14-1999

Reported in : [2000]245ITR733(All); [2001]116TAXMAN224(All)

..... is in the position of a creditor of the association and the interest paid by the association to him is legitimate deduction under section 10(2)(iii) of the indian income-tax act, 1922, in computing the profits of its business. therefore, the tribunal was right in applying this decision and the answer to this aspect of the question is self-evident.6 ..... m.c. agarwal, j.1. by this application under section 256(2) of the income-tax act, 1961, the commissioner of income-tax, meerut, prays that the income-tax appellate tribunal, delhi, be directed to draw up a statement of the case and refer the aforementioned question stated to be of law arising out of the tribunal's order ..... assessing officer appealed to the tribunal and that was dismissed. the tribunal noticed that there was no prohibition under the income-tax act, 1961, for allowing such a deduction and the matter was covered by a judgment of the madhya pradesh high court in cit v. harnandrai shrikishan akodia : [1966]61itr50(kar) .4. it is on the aforesaid facts that the question, as stated ..... case, the tribunal was legally correct in holding that the decision of the madhya pradesh high court reported in cit v. harnandrai shrikiskan akodia : [1966]61itr50(kar) is directly on the point and there was no prohibition under the provisions of the income-tax act to pay interest to the members of association of persons during the assessment year under consideration ?'.2. we have .....

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Dec 14 1999 (HC)

Commissioner of Income Tax Vs. Kesho Ram and ors.

Court : Allahabad

Decided on : Dec-14-1999

Reported in : [2001]245ITR733(All)

..... is in the position of a creditor of the association and the interest paid by the association to him is, legitimate deduction under section 10(2)(iii) of the indian income tax act, 1922, in computing the profits of its business. therefore, the tribunal was right in applying this decision and the answer to this aspect of the question is self-evident.as ..... high court in cit v. harnandrai shrikishan akodia (supra).3. it is on the aforesaid facts that the question, as stated above, is ..... case, the tribunal was legally correct in holding that the decision of the madhya pradesh high court reported in cit v. harnandrai shrihishan akodia : [1966]61itr50(kar) is directly on the point and there was no prohibition under the provisions of the income tax act to pay interest to the members of association of persons during the assessment year under consideration ?'.2. we have ..... and held that the payment of interest was a business expenditure and, therefore, allowed deduction in computing the income of the association. the assessing officer appealed to the tribunal and that was dismissed. the tribunal noticed that there was no prohibition under the income tax act, 1961, for allowing such a deduction and the matter was covered by a judgment of the madhya pradesh .....

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Dec 13 1999 (HC)

U.P. Forest Corporation Vs. Deputy Commissioner of Income-tax

Court : Allahabad

Decided on : Dec-13-1999

Reported in : (2001)165CTR(All)246; [2000]245ITR721(All)

..... the provisions of section 11(1)(a) of the income-tax act, 1961, is concerned, the issue does not arise from the revenue's appeal, therefore, we refrain from observing anything about the same. 6. in the result, the revenue's appeal ..... matter has to be decided in favour of the revenue in view of the supreme court judgment which we respectfully follow that income of the respondent-assessee (u.p. forest corporation) is not exempt under section 10(20) of the income-tax act, 1961. 5. so far as the contention of the authorised representative of the respondent-assessee in respect of the applicability of ..... .3. the u. p. forest corporation is an undertaking' of the government of u. p. in the income-tax assessment proceedings, it set up a case that it is a local authority within the meaning of section 10(20) of the income-tax-act, 1961, and, therefore, its income is exempt. this plea was not accepted by the assessing officer and an assessment was made by ..... 1. this is an appeal by the u. p. forest corporation under section 260a of the income-tax act, 1961, and is directed against the judgment and order passed by the income-tax appellate tribunal, bench-b, allahabad, in ita no. 209 (all) of 1993, for the assessment year 1990-91.2. we have heard sri s, p. gupta, learned senior advocate for .....

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Dec 13 1999 (HC)

Dilip Kumar Agarwal Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Dec-13-1999

Reported in : [2001]247ITR765(All); [2001]117TAXMAN335(All)

..... the amounts determined payable by the designated authority.9. the period of 30 days prescribed for payment of the tax is in consonance with the legislative policy in the direct taxes. under the income-tax act, section 156 requires the service of a notice of demand after an assessment and the notice of demand ..... which is issued under rule 15 of the income-tax rules in form no. 7 requires an assessee to pay the demand ..... . the designated authority, i.e., the commissioner of income-tax, allahabad, determined the amount payable by the petitioner in accordance with the provisions of the scheme and granted a certificate in terms of section 90(1) ..... in accordance with the provisions of the scheme and the rules made thereunder, the present petitioner filed a declaration in respect of the arrears of his income-tax dues for the assessment years 1982-83, 1983-84, 1984-85 and 1995-96. the declaration is stated to be filed on december 28, 1998 ..... of an order by the designated authority. in pursuance of the determinationunder section 90(1), the designated authority, i.e., the commissioner of income-tax, issued a certificate to the petitioner stating that a sum of rs. 99,353 has been determined as the amount payable towards the full and .....

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Dec 09 1999 (HC)

Flowmore (P.) Ltd., New Delhi Vs. U.P. State Industrial Development Co ...

Court : Allahabad

Decided on : Dec-09-1999

Reported in : 2000(1)AWC493

..... with the appellant-company therein, the indian sugar company continued to have its entity and was alive for the purposes of section 41(1) of the income-tax act, 1961, the apex court held as under :'generally, where only onecompany is involved in changeand the rights of the shareholders and creditors are varied, ..... .t. haryana, h. p. delhi, air 1991 sc 70, question was whether an amalgamated company could be held liable to pay tax under section 48(1) of the income-tax act. 1961. the supreme court held as under:'in order to attract the provisions of section 41(1) for enforcing the ..... tax liability, the identity of the assessee in the previous year and the subsequent year must be the same. if there is any change in the identity of the assessee, there would be no tax ..... was confronted with a question as to whether the arbitration clause falls within a contract which becomes impossible of performance under section 56 of the contract act, 1872. the principles laid down therein per majority are these-'(1) an arbitration clause is a collateral term of a contract as the definition from ..... company is still intact, cannot be countenanced.7. the decision in 'the official liquidator cannon dankarley co. (madras) ltd. v. asstt. commissioner urban land tax and another, 1992 (73) comp cas 168, reliance on which was placed by sri r. n. singh, is notan authority on the point that the .....

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