Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: karnataka Page 1 of about 9,487 results (0.076 seconds)

Jun 16 2017 (HC)

The Pr. Commissioner of Income Tax, Hubballi and Another Vs. The Totag ...

Court : Karnataka Dharwad

..... are as follows: (i) "whether the assessee, totagar co-operative sale society, sirsi, is entitled to 100% deduction under section 80p(2)(d) of the income tax act, 1961 (for short 'the act') in respect of whole of its income by way of interest earned by it during the relevant assessment years from 2007-2008 to 2011-2012 on the deposits or investments made by ..... is filed under section 260a of the income-tax act, 1961 praying to: i. formulate the substantial questions of law stated above. ii. allow the appeal and set aside the orders passed by the income tax appellate tribunal, bangalore bench 'c' in ita no.706/bang/2015 dtd: 22.01.2016 and confirm the order passed by the income tax officer, ward-1 sirsi, in the interest ..... . (v) that for the five appeals filed by the assessee on the limited ground of rejection of its cross-objections by the income tax appellate tribunal on the issue of justifiability of the reassessment under section 147 / 148 of the act for some of the assessment years, the learned counsel for the assessee urged that if the question of exemption / deduction is decided ..... to the present assessment years 2007-2008 to 2011-2012 involved in the present appeals and therefore, whether the income tax appellate tribunal as well as cit (appeals) were justified in holding that such interest income was 100% deductible under section 80p(2)(d) of the act? " 3. the ratio decidendi of the supreme court decision in the case of assessee, totagar's co-operative .....

Tag this Judgment!

Apr 21 2017 (HC)

Jayamuthu and Others Vs. State Election Commission for Co-Operation Ka ...

Court : Karnataka

..... buttress the contention that the writ petition was maintainable despite the availability of an alternative remedy l. hirday narain vs. income tax officer, bareilly, [1970(2) scc 355], which arises under the income tax act, 1922, has been pressed into service by the learned senior counsel for the appellant. it was observed therein that ..... even though a revision application could have been moved for an order correcting the order of the income tax officer under section 35 of the aforesaid act, but was not ..... decisions namely, i) state of h.p and others vs. gujarat ambuja cement ltd. and another [(2005) 6 scc 499]. ii) l.hirday narain vs. income tax officer, bareilly [1970(2) scc 355]. iii) kanak (smt.) and another vs. u.p. avas evam vikas parishad and others [(2003) 7 scc 693 ..... be issued to redo the entire exercise. 13. learned senior counsel, shri shyam prasad, submitted that section 70 of the co-operative societies act, 1959, under which an election dispute could also be adjudicated upon is not an adequate remedy, as there is a vital difference between an ..... dated may 20, 2015 was passed to the effect that the petitioner had failed to comply with the provisions of the co- operative societies act, 1959 and the bye laws of the 4th respondent - bangalore city milk union and therefore his nomination was rejected. being aggrieved by the .....

Tag this Judgment!

Apr 06 2017 (HC)

C.N. Dinesha Vs. C.G. Mallika

Court : Karnataka

..... the matter. the sentence imposed was excessive though the guilt of the accused was not proved. in view of section 269ss of the income tax act ('the i.t.act' for brevity), the loan transaction above rs.20,000/- is to be made by way of cheque only, in the light of ..... be contested. however, there can be no doubt that there is an initial presumption which favours the complainant. 27. section 139 of the act is an example of a reverse onus clause that has been included in furtherance of the legislative objective of improving the credibility of negotiable instruments. ..... legal jurisprudence, namely presumption of innocence as human rights and the doctrine of reverse burden introduced by section 139 should be delicately balanced. such balancing acts, indisputably would largely depend upon the factual matrix of each case, the materials brought on record and having regard to legal principles governing the ..... tampered; (4) being an accused, he need not establish his case beyond doubt. the statutory presumptions arising under sections 119 and 139 of the act since rebuttal, his case should have been believed as reasonably probable. 9. to commence from the premise of admitted facts, the parties were known to ..... judgment of courts below thus: the petitioner by raising contradictory defence failed to tilt the presumption arising under sections 118 and 139 of the act in favour of the complainant. to establish her financial capacity to lend rs.3,50,000/-, the complainant had produced ex.p7/registered sale .....

Tag this Judgment!

Dec 07 2016 (HC)

RNS Infrastructure Limited, Reptd. by Its Managing Director, Naveen R ...

Court : Karnataka

..... : these writ petitions are filed under articles 226 and 227 of the constitution of india praying to quash the order passed by r-1 under sec. 245d(4) of the income-tax act, 1961 dated 27.05.2016 and 11.08.2016 in annex-a1 and a2 as without jurisdiction and barred by limitation; quash the order passed by r-3 giving effect ..... and initiation of prosecution proceedings etc.) 1. these petitions are filed by the petitioner challenging the order passed by the respondent no.1, income-tax settlement commission, chennai under section 245d(4) of income tax act, 1961, hereinafter referred to as `the act' for short, dated 27th may 2016 and 11th august 2016 as without jurisdiction and barred by limitation and the orders passed by the ..... of the petitioner is in the range of rs.150 - 165 crore in the past six years. petitioner has been filing its return of income tax since its incorporation. 3. a search under section 132 of the income tax act had taken place in the business premises of the petitioner on 16th february 2012 up to 10th april 2012. several documents and materials, such as ..... and not mandatory and hence even if it is presumed that the order under section 245d(4) of the act is not passed within the time, the order passed by the income tax settlement commission does not abate under section 245ha(1)(iv) of the act. the revenue has relied upon the above decision of the bombay high court particularly paras 31, 32, 33 .....

Tag this Judgment!

Dec 02 2016 (HC)

The Commissioner of Income Tax and Another Vs. Wipro GE Medical System

Court : Karnataka

..... 34. with a view to providing fiscal incentive for promoting export of computer software, a new section 80hhe has been inserted in the income-tax act for providing tax concession similar to those available under section 80hhc of the income-tax act in relation to commodity exports. 34.1 under the new provisions, indian companies and resident non-corporate taxpayers will be eligible for a ..... controversy. the substantial question of law that arises for consideration is as under: a. in calculating the profits from export of computer software under section 80hhe of the income tax act, whether the total turnover includes the turnover of all the businesses carried on by the assessee or is it to be confined to the total turnover of computer software ..... in respect of the assessment year 2000-01, assessee filed a return of income. assessee claimed deduction under section 10a of the income tax act, 1961 (hereinafter referred to as act') as well as deduction under section 80hhe of the act and further contended that non competition fee was not liable to tax. assessing officer at the conclusion of assessment order, held that certain deductions ..... deduction, in computing their taxable income, of an amount equal to the profits derived from export of computer software. 34.2 the broad features of .....

Tag this Judgment!

Nov 19 2016 (HC)

Commissioner of Income-tax Vs. Nagarbail Salt-Owners Co-operative Soci ...

Court : Karnataka

..... and counsel for the respondent - assessee vide order dated 2.11.2016 framed following question of law: "whether the respondent - society assessed to tax on its income as 'person' as defined under section 2(31) of income tax act, 1961, is entitled to claim exemption over its profits paid to its members and claim it as expenditure in the accounts before offering the profit for ..... the assessment year 2006-07 by returning a sum of rs.1,19,251/-being loss carried forward and computed income as nil after claiming deduction of rs.3,45,021/- under section 80p(1)(d) of the income tax act, 1961 ('the act' for short) as per the profit and loss account; (vii) a notice under section 148 was issued. in reply, respondent - assessee ..... asserted that the total taxable income for the said assessment year was nil. revenue took up assessee's case for scrutiny by ..... '; (viii) after hearing the assessee, an assessment order was passed on 30.12.2013 under section 143(3) read with section 147 of the act holding the total income of rs.1,23,17,800/-, which would entail income tax of rs.36,92,340/-. after adding surcharge, cess, interest etc., the assessing authority held that the assessee was liable to pay a total .....

Tag this Judgment!

Nov 19 2016 (HC)

The Commissioner of Income Tax and Another Vs. The Nagarbail Salt-Owne ...

Court : Karnataka Dharwad

..... and counsel for the respondent assessee vide order dated 2.11.2016 framed following question of law: whether the respondent society assessed to tax on its income as person as defined under section 2(31) of income tax act, 1961, is entitled to claim exemption over its profits paid to its members and claim it as expenditure in the accounts before offering the profit for ..... the assessment year 2006-07 by returning a sum of rs.1,19,251/- being loss carried forward and computed income as nil after claiming deduction of rs.3,45,021/- under section 80p(1)(d) of the income tax act, 1961 ( the act for short) as per the profit and loss account; vii) a notice under section 148 was issued. in reply, respondent assessee ..... asserted that the total taxable income for the said assessment year was nil. revenue took up assessee s case for scrutiny by ..... ; viii) after hearing the assessee, an assessment order was passed on 30.12.2013 under section 143(3) read with section 147 of the act holding the total income of rs.1,23,17,800/-, which would entail income tax of rs.36,92,340/-. after adding surcharge, cess, interest etc., the assessing authority held that the assessee was liable to pay a total .....

Tag this Judgment!

Nov 16 2016 (HC)

The Pr. Commissioner of Income Tax and Another Vs. M/s. Karnataka Jour ...

Court : Karnataka

..... the assessee by holding that the assessing officer had rightly allowed the deduction under section 80p(2)(a)(i) of the income tax act, and the commissioner of income-tax wrongly assumed the jurisdiction under section 263 of the act. 4. we may record that this court in the above referred decision observed from paragraphs-7 to 9 as under: 7 ..... should be erroneous and it should be prejudicial to the interest of the revenue. 9. this court had an occasion to consider section 263 of the act in the case of - commissioner of income-tax and another v. digital global soft ltd. [2013] 354 itr 489 (karn) where paragraph-18, it has held as under: as is clear ..... (prayer: this ita is filed under sec.260-a of income tax act 1961, arising out of order dated:16/10/2015 passed in ita no.739/bang/2014, for the assessment year 2009-2010 praying to ..... interests of the revenue. if one of them is absent, i.e., if the order of the income-tax officer is erroneous but is not prejudicial to the revenue, recourse cannot be had to section 263(1) of the act. the satisfaction of both the conditions stipulated in the section is the sine qua non for the ..... a co-operative bank is exclusively carrying on banking business, then the income derived from the said business cannot be deducted in computing the total income of the assessee. the said income is liable for tax. a co-operative bank as defined under the banking regulation act includes the primary agricultural credit society or a primary co-operative agricultural and .....

Tag this Judgment!

Nov 15 2016 (HC)

ADC India Communication Limited Vs. The Assistant Commissioner of Inco ...

Court : Karnataka

..... biogas plants and rs.44,20,800/- for one flameless furnace, was a genuine price or not, because the petitioner-assessee as per the relevant rules under the income tax act, 1961, (for short the act ), was entitled to claim 100% depreciation of the purchase value of the said plants, which after they were purchased by the assessee-company, were given on lease ..... this court, notwithstanding the availability of remedy by way of appeal, again before the next higher appellate authority namely, the commissioner of income tax (appeals) as per section 254 of the act, 1961. he also urged that the due tax as earlier assessed has been paid on the lease rentals earned by the petitioner-assessee and the same has been paid. 8. having ..... to the assessing authority and the exercise to be undertaken by the fact finding bodies, including appellate forums at the level of commissioner of income tax (appeals) and itat, the authorities prescribed under the provisions of the i.t.act, 1961, would be frustrated, if this court were to undertake this exercise in writ jurisdiction of this court. therefore, without expressing any ..... back before the first appellate authority namely, the commissioner of income tax (appeals). it goes without saying that if the assessee-company leads appropriate evidence to support its claim even before the first appellate authority, who undoubtedly has the co-extensive powers as are available to the assessing authority under the act, the said first appellate authority is expected not to .....

Tag this Judgment!

Nov 10 2016 (HC)

N. Satish and Others Vs. State of Karnataka, Represented by its Princi ...

Court : Karnataka

..... supreme court has merely used the proposed bill as a minor premise in order to support its major premise for reaching the conclusion that section 9 (1) (i) of the income tax act, 1961, cannot be extended to cover indirect transfers of capital assets/property situated in india. therefore, the said case does not lay down a new principle for interpreting a provision ..... be documented and preserved at least for one year. the driver shall not be allowed to work beyond the maximum number of hours as stipulated under motor transport workers act 1961. (central act no.27 of 1961) j) periodically check and maintain a register regarding the details of all the documents of all taxies at his command. k) ensure that all ..... with the aggregator rules, and directed them to obtain a licence, failing which penal action would be taken against the petitioner no.1 under section 93 of the motor vehicles act ("the act" for short). 12. after the petitioner no.1 filed its application for seeking the licence, the respondent no.2 sought several documents from the petitioner no.1. by letter ..... , network service providers, internet service providers, web-hosting service providers, search engines, online payment sites, online- auction sites, online-market place and cyber cafes." 166. section 43a of the it act imposes a liability upon an intermediary to pay compensation in case the intermediary is negligent in implementing and maintaining reasonable security practices and procedure and thereby causes wrongful loss or .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //