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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: jharkhand Page 4 of about 318 results (0.026 seconds)

Mar 14 2008 (HC)

Shivam Coke Industries and Rani Sati Coke Manufacturing Company Vs. St ...

Court : Jharkhand

Reported in : [2008(2)JCR267(Jhr)]; (2008)18VST289(Jharkh)

..... chowdhury. decided by the calcutta high court, placed before us by the respondent have no relevance.our attention has been invited to section 34 of the maharashtra agriculture income tax act, 1962 where when defining the revisional power of the commissioner the legislature has expressly incorporated a provision prohibiting the commissioner from exercising his revisional power against an order ..... gauhati high court discussed the revisional power of the commissioner conferred under section 20(1) of the assam finance (sales tax) act, 1956 and held as under:7. to overcome the above controversy, section 263 of the income-tax act was amended and explanation was incorporated for removal of doubts. the legislative will is clear and unambiguous. it has given ..... answered in the negative and against the department.48. in the case of pathikonda balasubba setty v. commissioner of income tax, mysore : [1967]65itr252(kar) , the power of tribunal has been discussed in different tax acts. in that case the income tax officer estimated the gross profit under two of the various businesses carried on by the assessee. the officer found suspicious ..... it deems fit. the decision in the case of ganga properties : [1979]118itr447(cal) came up for consideration before the supreme court in the case of commissioner of income-tax v. shree manjunatheshware packing products and comphor works reported in : air1998sc1478 , wherein the supreme court held:such a narrow interpretation of the word 'record' was justified. in .....

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Feb 19 2008 (HC)

Tata Steel Limited Vs. State of Jharkhand and ors.

Court : Jharkhand

Reported in : [2008(2)JCR353(Jhr)]

..... v. m.k. mohammed kunhi 71 itr 815. in that case the question that came for consideration before the supreme court was as to whether the income tax tribunal has power under the relevant provision of income tax act to stay the recovery of realization of penalty imposed by the departmental authorities on an assessee during the pendency of the appeal. the supreme court held ..... case, balance of convenience and irreparable injury, the impugned order cannot be sustained in law. learned senior counsel relied upon the decision of the supreme court in the case of income-tax officer v. m.k. mohammed kunhi 71 itr 815, and a decision of the madras high court in the case of sri balaji trading co. v. deputy commercial ..... , challenged the said order by filing revision before the commissioner under the provisions of section 46(4) of the said act. in the meantime, for the recovery of the tax, the assessing authority passed order for attachment of the bank account of the petitioner, as a result of which, the petitioner-company filed interlocutory application before the commissioner in the ..... appeal and without assigning any reason the petitioner preferred revision under section 46(4) of the act. admittedly, for entertaining revision the petitioner is not required to deposit 20% of the total amount of tax as assessed by the assessing authority unlike entertaining appeal under the act. petitioner moved an interlocutory application in the revision for stay of the recovery of the demand .....

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Dec 20 2007 (HC)

Commissioner of Income Tax Vs. Composite Tools Company (India) Ltd.

Court : Jharkhand

Reported in : (2009)221CTR(Jharkhand)294; [2008(2)JCR118(Jhr)]

..... expenditure incurred by way of repairs and maintenance of plant and machinery. this said claim was allowed by the assessing officer. however, the commissioner of income tax issued show cause notice under section 263 of the income tax act, 1961 (in short 'the act') for the purpose of revising the order of assessment which was made by the assessing officer under section 143(3) of the ..... , j.1. this appeal under section 260a of the income tax act, 1961 is directed against the order dated 15.12.2006 passed by income tax appellate tribunal, circuit bench, ranchi in i.t.a. no. 297/pat/20q5 whereby and where under the tribunal set aside the order passed in appeal by the commissioner of income tax and affirmed the order passed by the assessing authority ..... act. the commissioner of income tax proceeded on the basis that the assessing officer has allowed expenditure of rs. 2,11,22,141/- on account of repairs and maintenance ..... it is the main plant of the objection raised by the audit.12. besides the above, it is well settled that order under section 263 of the act can be passed by the commissioner of income tax only if order passed by the assessing officer is erroneous, insofar as it is prejudicial to the interests of revenue. it is equally well settled that .....

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Dec 06 2007 (HC)

Commissioner of Income Tax and ors. Vs. Agricultural Produce Market Co ...

Court : Jharkhand

Reported in : [2009(1)JCR247(Jhr)]

..... committee. the commissioner further held that the market committee cannot be treated as a trust within the meaning of the income tax act, 1961 and, therefore, they are not entitled to exemption under section 10(20) of the said act.6. the income tax appellate tribunal in appeal filed by the respondents has discussed the facts in detail and came to the conclusion that ..... facts and circumstances of the case and the facts discussed herein above, we are of the view that the income tax appellate tribunal by reasoned orders held that the respondents are entitled to get registration for the purpose of exemption under the income tax act. we do not find any reasons to interfere with the impugned orders passed by the tribunal. for the ..... . since the tribunal has referred and quoted in detail all the relevant provisions of the bihar agricultural produce market act, vis-a-vis income tax act, we did not quote those provisions. suffice it to say that the provisions of the market act particularly section 6, section 9, section 27 and section 30 led to a conclusion that the market committee is ..... was held that the respondent is entitled to get registration under section 12aa of the income tax act, 1961 (herein after referred to as the said act') and issued necessary directions to the income tax commissioner to grant registration to the respondent-market committee under section 12aa of the said act.3. the respondent-agricultural committee of different districts filed applications, for their registration as .....

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Nov 05 2007 (HC)

Vijeta Construction Limited Vs. Assistant Commissioner of Income Tax a ...

Court : Jharkhand

Reported in : [2009]310ITR348(Jharkhand); [2008(2)JCR185(Jhr)]

..... the subject-matter of these appeals. we see no justifiable reason to interfere with the order under challenge. however, we clarify that when a notice under section 148 of the income tax act is issued, the proper course of action for the notice is to file a return and if he so desires, to seek reasons for issuing notices. the assessing officer is ..... division bench of the high court at delhi dismissed the writ petition filed by the appellant challenging the validity of notices issued under sections 148 and 143(2) of the income-tax act, 1961. the high court took the view that the appellant could have taken all the objections in its reply to the notices and that, at that stage, the writ petition ..... application the petitioner has challenged the notices dated 5.2.2007 and 16.4.2007 issued by the assistant commissioner of income tax, circle 3, ranchi purported to have been issued under section 148 and section 142(1) respectively of the income tax act, 1961 calling upon the petitioner-assessee for filing return.2. petitioner is a limited company carrying on business of construction of ..... materials. learned counsel further submitted that the assessing officer while issuing notice has not recorded satisfaction of the escapement of income as required under section 147 of the act but he acted only on the basis of the observation made by the commissioner of income tax.4. respondents in their counter affidavit have stated inter alia that after the impugned notices were issued the petitioner .....

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Nov 02 2007 (HC)

Union Enterprises Vs. Union of India (Uoi) and ors.

Court : Jharkhand

Reported in : [2008(1)JCR493(Jhr)]

..... . of india.) in this context, the learned counsel for the respondents referred to several decisions. however, in our opinion, all these decisions either arising under the income tax act in relation to special mode of collection of tax or excise duty on timber dealers or other enactments have no relevance. what can be seen is that the charge under the section is clearly on ..... a manner so as to allow the procedure prescribed under the provisions of section 3-a(4) to be followed section 3-a of the act provides for levy and collection of the tax arising under the act in such manner and at such rate as may be prescribed by the rules. section 3-a provides a special procedure in respect of the ..... capacity of production. such a procedure cannot be adopted at all, for the two procedures are alternative schemes of payment of tax.15. rejecting the contention of the assessee that rule 96zo(3) is contrary to section 3a(4) of the act and the same is ultra vires, their lordships observed:11. the learned counsel far the respondent contended that rule 96 ..... tribunal (in short 'cegat') whereby penalty imposed by the commissioner of central excise has been reduced, whereas tax case no. 07 of 2003 has been filed under section 354 of the central excise act seeking reference of the matter to this court and also for setting aside the order dated 28.10.2002 passed by the cegat reducing the amount of penalty .....

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Sep 18 2007 (HC)

Commissioner of Income Tax Vs. Eastern Tar (P) Ltd.

Court : Jharkhand

Reported in : 2008(56)BLJR679; (2008)218CTR(Jharkhand)506; [2008(3)JCR667(Jhr)]

..... was right in holding that the following receipts of the assessee -company were profits and gains attributable to its priority industry and qualified for relief under section 80i of the income tax act, 1961, for the assessment years, 1971-72 and 1972-73 ?9. answering the question in favour of the assessee after following the decision of the supreme court in the case ..... bank and on deposit with idbi is part of the profit and gains derived from an industrial undertaking to which section 80i of the income tax act, 1961 applies and thereby qualifying for deduction under section 80i of the income tax act, 1961?2. the facts of the case lie in a narrow compass :the assessee is an industrial undertaking engaged in conversion of coal tar ..... by way of shares in the assessee-company is includible in the capital for the purpose of computation of relief under section 80j of the income-tax act, 1961, under rule 19a(2), clauses (ii) and (iii) of the income-tax rules, 1962, for 1970-71 and 1971-72 assessment years.(2) whether, on the facts and in the circumstances of the case, the tribunal ..... bank fdr's) for the assessment year 1990-91 should not have been considered for the purpose of allowance of deduction under section 80i of the income tax act, 1961 as according to him the said interest income did not form part of the profit and gains derived from the industrial undertaking. he accordingly directed the assessing officer to re-compute the deduction granted .....

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Sep 18 2007 (HC)

Commissioner of Income-tax Vs. Karimia Trust

Court : Jharkhand

Reported in : (2008)218CTR(Jharkhand)670; [2008]302ITR57(Jharkhand); [2008(1)JCR513(Jhr)]

..... total income. section 11 lays down the detailed provision with regard to income which shall not be included in the total income derived from property held under trust wholly for charitable or ..... first time the assessing officer denied exemption from income tax in view of provisions of section 13(1)(bb) of the act. according to the assessing officer, the assessee was not entitled to have exemption under the aforesaid provision.9. before answering the questions, i would first like to consider the relevant provisions of the income-tax act, 1961.10. chapter iii (section 10 to 13a ..... m.y. eqbal, j. 1. by this application under section 256(1) of the income-tax act, 1961, the following questions of law have been referred to this court for opinion:1. whether in the facts and circumstances of the case, the was justified in holding that ..... ) deals with the provisions with regard to income which do not form part of .....

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Sep 18 2007 (HC)

Omec Engineers Vs. Commissioner of Income Tax

Court : Jharkhand

Reported in : (2008)217CTR(Jharkhand)144; [2008(1)JCR221(Jhr)]

..... explanation.23. with a view to circumventing this device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits, the bill seeks to make a new provision in the income-tax act debarring persons from taking or accepting after 30th june, 1984, from any other person any loan or deposit otherwise than by an account payee cheques or account payee bank draft ..... question of law referred by the tribunal, it would be useful to consider the purpose and object of insertion of the provisions of section 269ss, 271d and 273b of the income-tax act, 1961.12. the memorandum explaining the provisions in the finance bill, 1984 was placed before the parliament by the finance minister. in the said memorandum, the purpose of enacting ..... which is logically relevant should be admissible.14. in the case of kerala state industrial development corpn ltd. v. commissioner of income-tax : [2003]259itr51(sc) , the supreme court while answering the reference on a particular question of law under the income-tax act referred the decision of k.p. varghese's case : [1981]131itr597(sc) and held that the finance minister's speech ..... 1993 and 10.11.199b amounting to rs. 5 lacs. the return filed by the assessee was, however, accepted under section 143(3) of the income-tax act. after the assessment was made, a penalty proceeding under section 271d of the said act was initiated by the assessing authority for receiving and accepting those deposits in violation of provisions under section 269ss of the .....

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Sep 18 2007 (HC)

Commissioner of Income-tax Vs. Shrimati Bhagwani Devi, Proprietor, Woo ...

Court : Jharkhand

Reported in : (2008)219CTR(Jharkhand)373; [2008]298ITR413(Jharkhand); [2008(1)JCR28(Jhr)]

..... the appeal of the department was dismissed. we may only add and clarify that the words 'municipal valuation' would in the syntax of the present income-tax act and of municipal taxation statutes be synonymous and interchangeable with standard rent.29. coming back to the instant case, as noticed above, the assessee let ..... not be taken into consideration in estimating the annual value of such folding under this section.25. as per section 23(1)(a) of the income tax act the annual value of any property shall be deemed to be the sum for which the property might reasonably be expected to let from year to ..... -section (1) as if such house or houses had been let.10. the term 'annual value' has been defined in section 2(2) of the income-tax act, 1961 as under:second 2(2)--'annual value' in relation to any property, means its annual value as determined under section 23.11. section 23 as ..... property or the sum for which the property might reasonably be expected to be let' as contemplated by sections 22 and 23 of the income-tax act, 1961 only on 'standard rent' basis if he disbelieves the rent stated to be receivable by the assessee?(2) whether computation under sections 22 and ..... the annual value of the warehouse should be determined for the purpose of chargeability to income tax under the head 'income from house property.' the supreme court considered the relevant provisions of delhi rent control act vis-a-vis income-tax act and held that even if the standard rent of the building has not been fixed .....

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