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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: gujarat Year: 1999 Page 1 of about 80 results (0.016 seconds)

Dec 28 1999 (HC)

Shivabhai Khodabhai Patel Vs. Commissioner of Income Tax and anr.

Court : Gujarat

Decided on : Dec-28-1999

Reported in : [2000]244ITR457(Guj)

..... of the assessee the assessment order is made which has been recorded. earlier mr. bhatt submitted before us from the file of the office of the asstt. director, income-tax, ahmedabad, that there was an assessment order covering 19,47,580 diamonds worth rs. 12,34,775. the assessee, namely bhavani gems group made payment of rs. ..... the petitioner was assisted by a legal practitioner. it was known to them that the assessment is required to be completed under ss. 158a and 158b of the act and, therefore, it was essential for the petitioner to move the court before time expired or before the assessment is made. 12. earlier, mr. bhatt appearing for ..... that he was filing reply keeping his right open. 8. it is pointed out that the ao has shown the order under s. 127(2) of the act dt. 9th december, 1998, assigning the case to the ao to the assessee and his advocate and in the margin noting has been made and signed by the ..... and coordinated action along with more than 30 other cases including that of m/s. bhavani gems group where searches were conducted under s. 132 of the act on 25th april, 1997. it is also pointed out that the decision is not arbitrary. when a raid carried out at the place of bhavani gems group ..... assessee submitted that when case is transferred it is mandatory not only to record the reasons but to serve the order passed under s. 127(1) of the act to the assessee. in the said case the supreme court pointed out as under : 'that is the reason why before making an order of transfer the .....

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Dec 24 1999 (HC)

Mahesana District Co-operative Milk Producers Union Ltd. Vs. Commissio ...

Court : Gujarat

Decided on : Dec-24-1999

Reported in : [2002]258ITR780(Guj)

..... by way of grant and loan should be taken into account in computing the capital employed by it for the purpose of section 80j of the income-tax act, 1961 ?'considering the provisions of law, the court partly answered the question in the affirmative and partly in the negative by holding that the ..... gains. the tribunal in para. 25 of its judgment considered the aforesaid provisions and also section 40(a) of the income-tax act, 1961, which reads as under :'notwithstanding anything to the contrary in sections 30 to 39, the following amounts shall not be deducted in computing the ..... the cost being met directly or indirectly by any other person or authority and, therefore, the value of such grant is rightly reduced by the income-tax officer from the actual cost of the machinery in question while allowing the depreciation. the appeal on this point fails .'the apex court has pointed ..... a reasoned order on this question. but reading the order, it appears that the tribunal was guided by the reasoning recorded by the commissioner of income-tax (appeals), the relevant portion of which is reproduced hereunder :'indian dairy corporation had imported the machinery in question and supplied the same to the ..... ) the question referred to the court was as under (page 899) :'3. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal has been right in law in allowing a deduction of rs. 21,203 being the contribution made to the gujarat state co-operative union under .....

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Dec 20 1999 (HC)

Commissioner of Income-tax Vs. Chalthan Vibhag Khand Udyog Sahakari Ma ...

Court : Gujarat

Decided on : Dec-20-1999

Reported in : [2000]244ITR557(Guj)

..... facts and in the circumstances of the case, the tribunal was justified in holding that the assessee was entitled to deduction as contemplated under sections 80p and 80g of the income-tax act, 1961 ?' 3. the division bench hearing the said reference pointed out in para. 4 as under : '4. almost in similar circumstances, the supreme court held that before considering the matter ..... income-tax act, 1961 (hereinafter referred to as 'the act'), and rs. 1,417 under section 80p(2)(d) of the act in respect of interest received from the members of the co-operative societies and dividend and interest received from the co-operative ..... case, the tribunal was right in law in holding that the assessee is entitled to deduction under section 80p(2)(a)(i) and under section 80p(2)(d) of the income-tax act, 1961 ?' 2. the assessee claimed certain benefits such as deduction of rs. 4,04,400 under section 80p(2)(a)(i) of the ..... rightly set off the credit loss of earlier years in accordance with section 72 of the act and finding that the same exceeded, the income-tax officer did not allow the deduction under section 80p of the act. the principle laid down by the supreme court in cit v. kotagiri industrial co-operative tea factory ltd. : [1997]224itr604(sc) will apply to the facts of .....

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Dec 20 1999 (HC)

Commissioner of Income Tax Vs. H. Link

Court : Gujarat

Decided on : Dec-20-1999

Reported in : [2000]244ITR93(Guj)

..... , j. 1. the cit, baroda moved the income-tax appellate tribunal (hereinafter referred to as 'the tribunal') for making reference under the provisions contained under the it act, 1961 (hereinafter referred to as 'the act'). the question of law referred are as under : 1. 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income computable under the ..... case, the tribunal was right in law in coming to the conclusion that the living allowance did not form part of the salary under s. 17 of the it act, and therefore, exempt from tax ?' 3. 'whether, on the facts and in the circumstances of the case, the tribunal was right in law in coming to the conclusion that the value of rent ..... income as rs. 92,660. the aac allowed the appeal partly following the decision of the gujarat high court in the case of ..... s. 17(2) of the it act, 1961 ?' 2. the assessee, a foreign technician, was serving at the relevant time with gujarat narmada valley fertilisers ltd. broach. he was paid salary in foreign currency abroad and was allowed daily allowance, rent-free accommodation during his stay in india. the assessee claimed that his entire income was exempt from tax. the ito assessed the total .....

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Dec 20 1999 (HC)

Commissioner of Income Tax Vs. Sayaji Iron Works Quarry (P) Ltd.

Court : Gujarat

Decided on : Dec-20-1999

Reported in : [2000]244ITR628(Guj)

..... furnish the return of the total income which he was required to furnish under sub-s. (1) of s. 139 or by notice given ..... computation of the penalty in a case like this has to be on the difference in the first assessment and the assessment on reopening and it is the assessed tax on reopening which should be the basis for calculation of the penalty. the assessee filed the return in time and no grievance is made about the delay at ..... the sum, if any, deducted at source under chapter xvii-b or paid in advance under chapter xvii-c.' 4. thus, the assessed tax is to be considered in the manner indicated hereinabove. the cit(a) arrived at a conclusion that delay has to be reckoned for the return filed in response to the notice under s. 148. so ..... without reasonable cause failed to furnish the return of the total income which he was required to furnish under s. 148 of the act. 3. section 271(1)(a) reads as under : '271(1). if the ito or the aac or the cit(a) in the course of any proceedings under this act, is satisfied that any person - (a) has failed to ..... b.c. patel, j.1. the cit, gujarat central, ahmedabad, under s. 256(1) of the it act, (hereinafter referred to as 'the act') moved the tribunal for reference to this court by filing ref. appln. no. 267/ahd/1984 for asst. yr. 1975-76 and the tribunal has referred the .....

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Dec 20 1999 (HC)

Commissioner of Income Tax Vs. Power Build Limited

Court : Gujarat

Decided on : Dec-20-1999

Reported in : (2000)162CTR(Guj)41; [2000]244ITR19(Guj)

..... acquired to facilitate to run the existing business, it should be treated as revenue expenditure, in view of the decisions of this court cit vs. sayaji iron & engg. co. ltd. (1994) 201 itr 950 : tc 16r.1030 and cit vs . suhrid geigy ltd. : [1996]220itr153(guj) . it is not necessary to discuss in detail in view of settled legal position and facts ..... b.c. patel, j. 1. at the instance of cit, baroda, reference is made by the tribunal raising the following question of law as under : 'whether, on the facts and in the circumstances of the case and in law the .....

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Dec 14 1999 (HC)

Commissioner of Income-tax Vs. Harsiddh Construction (P) Ltd.

Court : Gujarat

Decided on : Dec-14-1999

Reported in : [2000]244ITR417(Guj)

..... where the breach flows from a bona fide belief that the offender is not liable to act in the manner prescribed by the statute. 15. as regards penalty under s. 271 is concerned on p. 1632 of the law and practice of income-tax by kanga & palkhivala the following commentary occurred : 'penalty under clause (a) for failure to furnish a voluntary return of ..... income is attracted only if there is taxable income according to the bona fide calculation of the assessee and not merely because the ao arrives at ..... 24th march, 1967. it was the filing of these belated returns which obliged the assessing authority to impose penalty under s. 271(1)(a) of the act. it transpires that for all these three years income was assessed at a higher amount than what was shown in the returns though filed belatedly. in the aforesaid case, at p. 300-301 the apex ..... . thus, there is no loss so far as revenue is concerned. now, in the instant case, the assessee was required to comply with s. 203 of the act which reads as under : 'every person deducting tax in accordance with the provisions of s. 192 to 194, s. 194, s. 194b, s. 194bb, s. 194c, s. 194d, s. 194ee, s. 194f, s. 194g .....

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Dec 08 1999 (HC)

Commissioner of Income Tax Vs. Mrugesh Jaykrishna

Court : Gujarat

Decided on : Dec-08-1999

Reported in : [2000]245ITR638(Guj)

..... , in the opinion of the ao, satisfactory, the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income of the assessee for such financial year.' 5. the cit(a), after hearing both the sides, considered the submissions in detail in para 37 of the order, and deleted the addition of rs. 3,82 ..... for the next 5-7 years by the time his son is ready for marriage, who at the relevant time was around 16 years old. 4. section 69a of the act reads as under : 'unexplained money, etc. - where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such ..... ) whether, the tribunal is right in law and on facts in confirming the order passed by the cit(a) deleting the addition of rs. 3,82,895 on account of unexplained investment in jewellery in view of the express provisions of s. 69a of the it act (2) whether the tribunal has correctly appreciated the facts on record so as to arrive at ..... orderby the court :1. the cit has preferred this application under s. 256(2) of the it act, 1961 (the act), being aggrieved by the order passed by the tribunal, ahmedabad, on 12th january, 1999 in ref. appln. no. 664/ahd. of 1998. 2. the questions sought to be referred by .....

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Dec 06 1999 (HC)

Deputy Commissioner of Income-tax Vs. Harjivandas Juthabhai Zaveri and ...

Court : Gujarat

Decided on : Dec-06-1999

Reported in : [1999]258ITR785(Guj)

..... 1. the present appeal is preferred by the assistant commissioner of income-tax, central circle 2(1), ahmedabad, under section 260a of the income-tax act, 1961 (hereinafter referred to as 'the act'), against the decision rendered by the income-tax appellate tribunal, ahmedabad bench (hereinafter referred to as 'the tribunal').2. for the assessment year 1988-89, harsidh specific family trust was assessed by the ..... assessing officer and the said assessment was challenged before the commissioner of income-tax (appeals), who, after hearing ..... the cost is reduced by deducting the sum so received, the profit will increase and, ultimately, the total would be the same. he submitted that the commissioner of income-tax (appeals) and the tribunal have rightly come to the conclusion that the items covered by question no. 5 are covered by section 80-i of the ..... act inasmuch as the amount received can be said to have been received from the activities undertaken by the assessee. he submitted that no question of law is raised, more particularly, when a division bench of this court in income-tax application no. 70 of 1997 (cit v. norma detergent p. ltd.) had considered .....

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Nov 29 1999 (HC)

Commissioner of Income Tax Vs. Torrent Laboratories (P) Ltd.

Court : Gujarat

Decided on : Nov-29-1999

Reported in : (2000)160CTR(Guj)333; [2000]245ITR29(Guj)

..... preferred this application under s. 256(2) of the it act, 1961 (hereinafter referred to as 'the act'). the applicant moved income-tax appellate tribunal (hereinafter referred to as the 'tribunal') inter alia requesting to make a reference under s. 256(1) of the act for the opinion of the court on the question ..... which reads as under. 'whether the tribunal is right in law and on facts in confirming the order passed by the cit ..... was pertaining to the expenditure which as incurred on literature which was meant for dissemination of knowledge/information and was educative in nature. 7. cit(a) adverted to 'advertisement' and indicated rightly what advertisement means. it was specific case that literature was for doctors, nurses, hospitals and ..... exclusion of the expenditure of free samples supplied to the doctors in working out disallowance under s. 37(3a) of the act. 5. the court in cit vs. j & j dechane laboratories (p) ltd. (supra) distinguished on facts the decision of karnataka high court in smith kline & ..... the expenditure on physicians samples distributed to doctors is outside the scope of s. 37(3a) of the act. the andhra pradesh high court referred the decisions in the case of cit vs . ampro food products : [1995]215itr904(ap) and also the decision of calcutta high court in .....

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