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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: chennai Year: 1999 Page 1 of about 169 results (0.045 seconds)

Dec 27 1999 (HC)

Lakshmi Jewellery Vs. Asstt. Cit

Court : Chennai

Decided on : Dec-27-1999

Reported in : (2001)73TTJ(Mad)981

..... record and the issues argued by both the parties. the first ground raised by the assessee is to the effect that the assessment is violative of the provisions of the income tax act and the principles of natural justice. it is argued by the learned counsel for the assessee that the assessee-firm was not given a reasonable opportunity with regard to various ..... .s. kalsian, a.m.this appeal by the assessee is against the order of the assistant commissioner, sic-i, coimbatore, dated 30-3-1996, passed under section 158bc of the income tax act, 1961. the grounds of appeal filed with the memorandum of appeal were in various pages containing statement of facts as well as arguments. the assessee's counsel was asked to ..... is not based on any evidence found as a result of search or other material or information, cannot be sustained in assessment of income for the block period under section 158bc of the income tax act, 1961. the addition of rs. 70,400 made by the assessing officer on account of shortfall in drawings is, therefore, deleted.18. the sixth ground of appeal is ..... issues covered by the assessment order. according to the learned counsel section 159bg of the income tax act provides that no order under section 158bc shall be passed without the previous approval of the commissioner or director of income tax, and this requires that the commissioner should issue a pre-assessment notice and give the assessee a hearing. it is .....

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Dec 23 1999 (HC)

income-tax Officer Vs. Sakthi Finance Ltd. and ors.

Court : Chennai

Decided on : Dec-23-1999

Reported in : [2001]247ITR593(Mad)

..... acquired, accrued or incurred under any enactment so repealed, would apply to a repeal of one of the sections of the income-tax act, 1961. with effect from april 1, 1989, section 271d of the income-tax act, 1961, had been introduced while omitting section 276dd with effect from the same date. section 271d, as it stands now ..... be launched on february 18, 1992. the court has categorically held that there was no saving clause after omission of these two sections from the income-tax act and that an incident which occurred prior to the omission could not be the basis for prosecution thereafter. the court has also relied upon a ..... proceeding further to give a finding on the crucial points involved in these cases, it would be relevant to extract the provisions of the income-tax act. section 269ss of the act states that after june 30, 1984, no person shall take or accept from any other person, any loan or deposit otherwise than by ..... has held that accused nos. 1 to 3, in the cases covered under c.a. no. 249 and connected cases, violated the provisions of the income-tax act, i.e., section 269t. but the trial court acquitted the accused on the ground that section 276e penal provision was deleted with effect from april 1, ..... rs. 10,000 or more otherwise than under account payee cheques and that, therefore, they are liable to be punished under section 276dd of the income-tax act.7. on the side of the complainant, two witnesses were examined and on behalf of the accused n.k. pai has been examined as d. .....

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Dec 23 1999 (HC)

income Tax Officer Vs. Sakhti Finance Ltd.

Court : Chennai

Decided on : Dec-23-1999

Reported in : [2000]109TAXMAN376(Mad)

..... , privilege, obligation or liability acquired, accrued or incurred under any enactment so repealed, would apply to a repeal of one of the sections of the income tax act, 1961. with effect from 1-4-1989, section 271d of the income tax act, 1961, had been introduced while omitting section 276dd with effect from the same date. section 271d, as it stands now, imposes only a penalty ..... alone are impleaded as accused.2. the complaint relating to c.a. no. 249 of 1990 and connected cases are filed under section 276e, read with section 278b, of the income tax act, 1961. the complaint relating to cases c.a. nos. 279 of 1990 to c.a.no.288 of 1990 are filed under section 276dd, read with section 276b, of the ..... in patiram jain v. union of india : [1997]225itr409(mp) , it is held thus:'sections 276dd and 276e of the income tax act, 1961, were deleted with effect from 1-4-1989 without any saving clause. since sections 276dd and 276e of the income tax act were deleted without any saving clause, no prosecution could be launched for the offences under those sections after the same ..... were deleted and nothing was contained in the act that the prosecution could continue for the past act of any party.' (p. 409)it is seen from the facts of .....

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Dec 21 1999 (HC)

C.A. Abraham and ors. Vs. Assistant Commissioner of Income-tax and ors ...

Court : Chennai

Decided on : Dec-21-1999

Reported in : [2002]255ITR540(Mad)

..... seeking a direction to the settlement commission to pass orders in accordance with chapter xiv-b of the income-tax act, 1961.3. in w. p. nos. 17150, 17151, 17160 and 18756 of 1999, the petitioners have challenged the order dated may 14, 1999, in which the settlement commission rejected the ..... may 14, 1999, the settlement commission rejected the applications filed by the assessees stating that the applications in effect seeking review of the order under section 245d(4) of the income-tax act cannot be entertained as the order passed under section 245d(4) has become final and conclusive as to the matters stated therein in view of section 245d(1) of the ..... as a result of our present order. there is no provision in this regard in chapter xix-a of the income-tax act. however, it is open to the above benami firms to file applications under section 264 of the income-tax act before the commissioner of income-tax requesting him to pass such order thereon not being an order prejudicial to the assessment, so that their assessed ..... income-tax act.2. the petitioners filed w. p. nos. 15853, 17462, 18472, 18558, 18751, 18757, 18764 and 18932 of 1999 challenging the order of the settlement commission dated december 21, 1998, and .....

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Dec 21 1999 (HC)

C.A. Abraham Vs. Assistant Commissioner of Income Tax

Court : Chennai

Decided on : Dec-21-1999

Reported in : [2000]109TAXMAN16(Mad)

..... a result of our present order. there is no provision in this regard in chapter xix-a of the income tax act. however, it is open to the above benami firms to file applications under section 264 of the income tax act before the commissioner of income-tax requesting him to pass such order thereon not being an order prejudicial to the assessment so that their assessed/ returned ..... of natural justice, we hope that the commissioner would condone the delay in filing the revision applications as per the proviso to section 284(8) of the income tax act.'17. the settlement commission has computed the income of the petitioners only on the basis of the annexures to the order. in the order it is specifically stated that the petitioners offered the unaccounted ..... investments made by him in movable and immovable properties. it was also revealed that the assessee was doing business in benami names. so a notice under section 158bc of the income tax act, 1961 (herainafter referred to as 'the act') was issued to him on 13-6-1996. in response to the notice, the said abraham filed a return declaring his disclosed ..... incomes for the relevant assessment years, which have been included in the hands of the present applicants, are excluded from their .....

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Dec 20 1999 (HC)

Commissioner of Income-tax Vs. Tiruchirapalli Co-operative Wholesale S ...

Court : Chennai

Decided on : Dec-20-1999

Reported in : [2000]243ITR277(Mad)

..... tribunal, madras bench, at the instance of the commissioner of income-tax, tamil nadu-v, madras, has stated a case under section 256(1) of the income-tax act, 1961 (hereinafter to be referred to as 'the act'), in relation to the assessment of the assessee for the assessment years 1978-79 to 1981- ..... its accounting year and made a provision for bonus payable under the provisions of the payment of bonus act. the assessee claimed deduction of the provision made towards the bonus, however, the income-tax officer disallowed the provision made for the years in question and allowed the actual payment of bonus only ..... department, submitted that though in the order of assessment, there is no finding of the income-tax officer that the assessee has been maintaining the cash method of accounting, the tribunal proceeded on the basis that even in case the assessee had ..... be following the cash method of accounting, etc.', which was allowed by the appellate tribunal. the appellate tribunal, at the instance of the commissioner of income-tax, tamil nadu-v, madras, has referred the case to us as stated above.4. mr. o. anand ram, learned junior standing counsel for the ..... the provisions of the bonus act. it is a settled proposition that the employer is bound to pay the statutory bonus. the dispute before us relates only to the nature of the liability and the admissibility of the provision made towards the bonus, once the income-tax officer found that the .....

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Dec 15 1999 (HC)

Commissioner of Income Tax Vs. Kshatriya Girls Schools Managing Board

Court : Chennai

Decided on : Dec-15-1999

Reported in : (1999)151CTR(Mad)87; [2000]109TAXMAN77(Mad)

jain, jthe above tax case is at the instance of the commissioner, madurai, under section 256(1) of the income tax act, 1961 and the tribunal has stated the case and referred the following question of law:'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the assessee was entitled to exemption provided under section 10(22) of the act ?'2. the learned standing counsel for the department submits that the controversy had already been set at rest in the case of the same assessee, in cit v. kshatriya girls schools managing board (1999) 9 dtc (mad-hc) : (1998) 101 taxman 555 and in favour of the assessee.3. in view of the above statement and for the reasons mentioned in the decision cited supra, the question of law referred is answered in the affirmative and against the revenue. the tax case is disposed of accordingly. no costs.

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Dec 13 1999 (HC)

Commissioner of Income-tax Vs. West Coast Electric Supplies Corporatio ...

Court : Chennai

Decided on : Dec-13-1999

Reported in : [2000]243ITR565(Mad)

..... direction of this court in t. c. p. nos. 309 to 318 of 1986, dated november 12, 1986, made under section 256(2) of the income-tax act, 1961 (hereinafter to be referred to as 'the act'), the income-tax appellate tribunal (hereinafter to be referred to as 'the tribunal'), has stated a case in t. c. nos. 935 to 944 of 1988 and referred the ..... that limited companies who carry on business are separate taxable persons, and the profits and gains of their several businesses are separate profits and gains for the purposes of the income-tax acts. this is none the less true if one of the companies should be the parent company, and the other or others may be its subsidiaries of which the shares are ..... ) , learned counsel for the assessee submitted that before the income-tax officer ..... ' as it is a specific head of income under section 56 of the act.20. realising the difficulty, learned counsel for the assessee submitted that the business of the assessee itself is the holding of the investment in subsidiary companies. in this connection, he relied upon the decision of this court in the case of cit v. amalgamations (p.) ltd. : [1977]108itr895(mad .....

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Dec 13 1999 (HC)

T.V. Sundaram Iyengar and Sons Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-13-1999

Reported in : [2000]244ITR133(Mad)

..... petitions are filed by the petitioner to direct the income-tax appellate tribunal under section 256(2) of the income-tax act, 1961, to refer the following questions law to this court for its consideration and opinion : '1. whether, on the facts and in the ..... circumstances of the case, the tribunal, is right in law in holding that the reassessments under section 147(b) of the act are in order 2. ..... sundaram is a relative of the director when the finding of the commissioner of income-tax (appeals) is that he is not a relative of the director within the meaning of section 2(41) read with section 2(32) of the act and which finding has been accepted by the department 8. whether, on the ..... the circumstances, we fully agree with learned counsel for the department that no question of law arises regarding reopening of the case under section 147(b) of the act. 6. regarding the other questions, viz., payment of salary and maintenance of expenditure are concerned, it is alleged that nicholas sundaram was appointed on may 20 ..... a common order. 3. learned counsel for the department submits that the issues are of facts and no question of law is involved. 4. though these tax cases petitions are filed referring eight questions of law, learned counsel for the petitioner argued only certain questions, which are being dealt with. 5. we have .....

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Dec 13 1999 (HC)

Commissioner of Income Tax Vs. West Coast Electric Supplies Corpn. Ltd ...

Court : Chennai

Decided on : Dec-13-1999

Reported in : [2000]109TAXMAN54(Mad)

..... are separate taxable persons, and the profits and gains of their several businesses are separate profits and gains for the purposes of the income tax acts. this is nonetheless true if one of the companies should be the parent company, and the other or others may be its subsidiary ..... t.c.p. nos. 309 to 318 of 1986, dated 12-11-1986, made under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'the act'), the tribunal has stated in case in t.c. nos. 935 to 944 of 1988 and referred the following questions ..... companies, the argument was not accepted by the commissioner (appeals) who held that the two subsidiary companies were separately assessed to income-tax and their income was taxed under the head `profits and gains of business or profession'. it was also held that it was not the case of the ..... amalgamations (p.) ltd. : [1977]108itr895(mad) . the learned counsel for the assessee submitted that before the income tax ..... of income under section 56 of the act.18. realising the difficulty, the learned counsel for the assessee submitted that the business of the assessee itself is the holding of the investment in subsidiary companies. in this connection, he relied upon the decision of this court in the case of cit v. .....

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