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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: andhra pradesh Year: 1999 Page 1 of about 123 results (0.054 seconds)

Dec 28 1999 (HC)

Ch. Patel Agencies Vs. Assistant Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Dec-28-1999

Reported in : [2000]243ITR768(AP)

..... .1. in this application under section 256(2) of the income-tax act, 1961, the assessee seeks reference of the following questions :'1. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is correct in its conclusion that the assessee cannot support the grounds taken before the commissioner of income-tax (appeals) by taking up a new plea in respect ..... of learned counsel for the petitioner is that the tribunal's conclusion is vitiated by a legally wrong approach that a new plea cannot be entertained by the commissioner of income-tax (appeals). we find it difficult to accept this contention. in accordance with the agreement reached by the assessee and its supplier company, viz., utkal asbestos limited, for the cost of ..... assessee-firm for the assessment year 1986-87 ?3. whether, on the facts and in the circumstances of the case, the conclusion of the income-tax appellate tribunal that the sum of rs. 1,11,892 is liable to tax, is perverse or supported by any material on record or based on no material or unreasonable ?4. whether, on the facts and in ..... utkal asbestos limited and, therefore, a sum of rs. 1,11,892 was not reflected in the trading account as income. this explanation was not accepted by the assessing officer. hence, it was added to the income. before the commissioner of income-tax (appeals), it was contended that the assessee was not able to realize the disputed amount and what was realized was only .....

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Dec 28 1999 (HC)

Ch. Patel Agencies Vs. Assistant Commissioner of Income Tax

Court : Andhra Pradesh

Decided on : Dec-28-1999

Reported in : [2000]109TAXMAN391(AP)

reddi, j. in this application under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'the act'), the assessee seeks reference of the following questions :' 1. whether, on the facts and in the circumstances of the case, the tribunal is correct in its ..... circumstances of the case, the tribunal is correct in law in holding that the sum of rs. 1, 11,892 is liable to tax and cannot be allowed as deduction from out of the income of the assessee-firm for the assessment year 1986-87 ?3. whether, on the facts and in the circumstances of the case, the ..... conclusion of the tribunal that the sum of rs. 1,11,892 is liable to tax, is perverse or supported by any material on record ..... or based on no material or unreasonable ?4. whether, on the facts and in the circumstances of the case, the tribunal is correct in upholding the addition of rs. 23,143 as forming part of the assessee's assessable income for the assessment year ..... of the tribunal was based on pure findings of fact. with regard to the first three questions relating to addition of rs, 1, 11,892 to the returned income, the contention of the learned counsel for the petitioner is that the tribunal's conclusion is vitiated by a legally wrong approach that a new plea cannot be .....

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Dec 21 1999 (HC)

National Surgical Corporation Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Dec-21-1999

Reported in : [2000]242ITR667(AP)

..... and in the circumstances of the case, the tribunal was not justified in confirming the penalty of rs. 92,000 under section 271d of the income-tax act ?2. whether, on the facts and in the circumstances of the case, the tribunal was correct in law in holding that the circumstances mentioned ..... the months of february and march, 1989, in violation of the provisions of section 269ss of the income-tax act. penalty of an equal amount was levied under section 271d by the deputy commissioner of income-tax. it is not in dispute that penalty could be levied only if reasonable cause is not established ..... in upholding the levy of penalty. it is also interesting to note that the tribunal observed that the reasoning given by the commissioner of income-tax (appeals) is sound and valid and it found itself in complete agreement with that reasoning. as already observed, there was no reasoning at ..... . against the order of the deputy commissioner levying penalty, the petitioner preferred appeal to the commissioner of income-tax (appeals). the gist of the explanation given before the deputy commissioner as well as the written submissions given before the appellate authority were set ..... by the assessee which necessitated loans being taken in cash did not constitute reasonable cause for not levying penalty under section 271d of the act ?3. whether, on the facts and in the circumstances of the case, the tribunal ought to have followed the decision of the .....

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Dec 17 1999 (HC)

Cil Securities Ltd., Hyd. Vs. Commissioner of Income Tax, A.P. and Ano ...

Court : Andhra Pradesh

Decided on : Dec-17-1999

Reported in : 2000(4)ALD69; 2000(2)ALT541; (2000)161CTR(AP)44; [2000]242ITR472(AP)

..... assessing officer nor docs it lack the sanction of law taking an overall view. the same officer is the assessing authority under the income tax act as well as interest tax act. though he acts in different capacities, he is empowered to recover the tax falling due under either of the enactments. it would have been open to him to attach the refundable amount due under the ..... in writing to the assessee of the action proposed to be taken under the income tax act. section 245 has no application for the adjustment of the demand of tax under the interest tax act. the demand under interest tax act was adjusted while finalising the assessment under section 143(1)(a) of the income tax act and the said intimation under section 143(1)(a) has become final as the ..... for the assessment year 1995-96 totaling rs.2.59,415/- was adjusted and refundable amount of rs.3,08,032/-was intimated under section 143(1)(a) of the income tax act. the said order of the assessing authority had become final as the petitioner had not chosen to question the same.8. the scheme came into force from 1-9-1998 ..... the eye of law. there is unmistakable indication in the present case that the assessee acquiesced in if not consented to such' adjustment. the adjustment of interest tax against the refund due under the income tax act was never questioned by the petitioner as pointed out by my learned brother, obviously because he did not find it detrimental to his interest. it cannot be .....

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Dec 08 1999 (HC)

Commissioner of Income-tax Vs. Lanco Industries Ltd.

Court : Andhra Pradesh

Decided on : Dec-08-1999

Reported in : 2000(1)ALT746; [2000]242ITR357(AP)

..... deleted. the assessing officer was directed to reframe the assessment in the light of the appellate order.2. learned senior standing counsel for the income-tax department has urged that the findings of the tribunal are vitiated by perversity in approach and on account of placing the burden of proof on ..... of the income-tax act, 1961, arises out of a block assessment made for the years 1986-87 to 1995-96 and also for the period april 1, 1995, to september 27, 1995. as a result of the search and seizure operations conducted by the department on september 27, 1995, the tax of rs. ..... 9.27 lakhs wasdemanded treating the undisclosed income as rs. 1,14,88,410. on appeal to the income-tax appellate tribunal, the tribunal partly allowed the appeal. an addition of rs. 16,82,100 made ..... as per the book entries were in fact dummies or stooges of the directors of the assessee-company, the same cannot be treated as unaccounted income of the assessee. there was no such finding by the assessing authority. in this view of the matter, the ultimate conclusion of the tribunal ..... the reason that they were in stereotyped forms and moreover they did not contain the necessary particulars regarding the extent of agricultural land and their income from various sources. the assessing officer also questioned the genuineness of the signatures in certain letters. the tribunal observed that in view of the .....

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Dec 03 1999 (HC)

Commissioner of Wealth Tax, A.P.-iii, Hyderabad Vs. B. Chandrasekhara ...

Court : Andhra Pradesh

Decided on : Dec-03-1999

Reported in : 2000(3)ALD279; 2000(1)ALT250; [2000]242ITR6(AP)

..... of this court has referred this rc for consideration of the full bench. the rc arises out of the reference application filed by the commissioner of wealth tax under section 256(1) of the income tax act. the questions of law referred are these:'(1) whether on the facts and circumstances of the case, the appellate tribunal was right in holding that the provisions ..... of section 4(1)(b) of the wealth tax act, rule 2 of the wealth tax rules and the principle decided by the a.p. high court in : [1981]129itr203(ap ..... to the question is as follows:re. question no. 1: there is no need to answer first part of the question i.e., whether section 4(1)(b) of wealth tax act and rule 2 would apply to the case of an assessee who is a minor admitted to the benefits of partnership. as regards the applicability of the decision in : [1981 ..... , including assets required to be included in his net wealth as on that date under this act. is in excess of the aggregate value of all the debts owed by the assessee on the valuation date other than- .............. (rest is omitted). rule 2 of wealth tax rules 2(1) the value of the interest of a person in a firm of which .....

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Nov 03 1999 (HC)

Commissioner of Income-tax Vs. Lohiya Trading Co.

Court : Andhra Pradesh

Decided on : Nov-03-1999

Reported in : 2000(2)ALT537; [2000]242ITR434(AP)

..... . hence, penalty of rs. 6,420 in one case and rs. 6,920 in another case was levied under section 271(1) of the income-tax act. on appeal, the assistant commissioner confirmed the penalty. on further appeal, the appellate tribunal allowed the appeal partly while accepting the additional ground raised by the appellant. the contention was ..... which is relevant for the purpose of quantifying the amount of penalty leviable under section 271(1)(a) in the manner provided under section 271(1)(i)(b) of the income-tax act, 1961 ?'2. in r. c. no. 4 of 1991, the question is couched in a different language, but, in substance, it is the same. the question is as follows :'whether ..... of quantifying the amount of penalty leviable under section 271(1)(a) in the manner provided under section 271(1)(i)(b) of the income-tax act, 1961 ?'3. the assessee which is a registered firm filed returns of income with a delay of about ten months for the years 1982-83 and 1983-84. the assessee did not respond to the penalty notice ..... tribunal was correct in law in holding that in view of the non-obstante clause found in section 271(2) of the income-tax act, 1961, the term 'assessed tax' occurring in section 271(1)(i)(b) has to be construed de hors the explanation thereto ?2. whether the tribunal was correct in law in holding that reading together the .....

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Oct 12 1999 (HC)

Sree Rama Medical and Surgical Agencies Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Oct-12-1999

Reported in : 1999(6)ALT670; [2000]243ITR425(AP)

..... the books of account of the appellant firm were treated as bogus and the same were taken as income by applying section 68 of the income-tax act, the alleged creditors were examined in the presence of the managing partner of the appellant firm. the conclusions were based mainly on the statements of the alleged ..... p. venkatarama reddy 1. this appeal under section 260a of the income-tax act, 1961, arises out of the order of the income-tax appellate tribunal confirming the assessment made under section 158bg of the income-tax act which is part of chapter xivb. an amount of rs. 27,82,682 was taken as undisclosed income representing the unexplained cash credits and the interest thereon. the cash credits recorded in .....

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Sep 27 1999 (HC)

V. Rama Krishna Vs. Andhra Bank, Hyd. and Others

Court : Andhra Pradesh

Decided on : Sep-27-1999

Reported in : 2000(1)ALD16

..... se stands barred. but the cases in 'which certain statutory remedies are provided by way of an appeal or revision, such cases some times pose difficulty. for instance, under the income tax act, a remedy is provided to the assessee, in case he is aggrieved, to approach an appellate authority. dealing with such a situation, the hon'ble supreme court in the decisionreported ..... impliedly, notwithstanding the fact that a suit for specific performance of such personal contract between the master and servant is barred under section 14(1)(b) of the specific relief act. therefore, it follows that the lower appellate court was totally in error in holding that any suit regarding relationshipbetween master and servant would be barred, without noticing the principle of ..... services of a particular servant willingly, but according to certain statutory conditions. there may be a condition that the servant is entitled to certain benefits under the provident fund act, or minimum wages act, etc. in case if the master does not extend the benefits as per the conditions of the contract, the servant can sue the master for declaration that such ..... servant was entitled to provident fund, gratuity or minimum wages under respective acts. thus, under the statutory rules and regulations or the law applicable to the parties, if the master illegally refuses the promotion to a person as against his juniors, then .....

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Sep 24 1999 (HC)

PenguIn Textiles Ltd., Hyderabad Vs. State of A.P.

Court : Andhra Pradesh

Decided on : Sep-24-1999

Reported in : 1999(6)ALD517; 1999(6)ALT72

..... against the order of the sales tax appellate tribunal, revision is provided to the high court on a question of law. the ..... the like. for instance, in the context of reference jurisdiction of the high court under the income tax act, it was held that the high court does not have inherent or incidental power to grant stay or realisation of tax vide c1t v. bhansidhar . in shri shaym kishore v.municipal corporation of delhi : air1992sc2279 , ..... stay of collection of tax in dispute pending disposal of appeal by the tribunal subject to such terms and conditions as he may think fit. this provision is some what akin to section 220(6) of the income tax act which vests discretion in the ito to defer collection of tax pending the first appeal. ..... normal rule is that the incidental and ancillary powers of an appellate authority will include a power to grant stay of the order under appeal -vide, income tax officer, cannanore v. m.k. mohammed kunhi, air 1969 sc 430 -- that power cannot be read into section 170(b) for such an interpretation ..... by their lordships in the opening sentence i.e., 'whether a revision lies to the high court under section 22 of andhra pradesh general sales tax act against the order of the appellate tribunal' seems to be an accidental slip. it does not reflect the correct issue. the correct issue as indicated .....

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