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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: madhya pradesh Year: 1999 Page 1 of about 55 results (0.059 seconds)

Dec 16 1999 (HC)

Keveyam and Company Vs. G.S. Baghel, Additional Assistant Commissioner ...

Court : Madhya Pradesh

Decided on : Dec-16-1999

Reported in : [2000]119STC123(MP)

..... the net profit at 15 per cent on the contract payments received by the petitioner. the commissioner dismissed the revision petition filed by the petitioner under section 263 of the income-tax act, 1961, on the ground that, in view of the nature of the business, the estimate of net profit at 15 per cent was reasonable. on a writ petition filed by ..... under sub-section (3) of section 23 of the act, the income-tax officer is not entitled to make a pure guess and make an assessment without reference to any evidence or any material at all. there must be something more than bare ..... not had a fair hearing.'after assessing facts and circumstances of the said case the supreme court held, that--'both the income-tax officer and tribunal in estimating the gross profit rate on sales did not act on any material but acted on pure guess and suspicion and it was thus a fit case for the exercise of the powers under article 136.'16 ..... 775 ; air 1955 sc 65 where the supreme court was dealing with taxation matter. supreme court held in that matter :'though the income-tax officer is not fettered by technical rules of evidence and pleadings and is entitled to act on material which may not be accepted as evidence in a court of law, it is equally clear that in making the assessment .....

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Oct 06 1999 (HC)

Dharampal Singh Pall Vs. Central Board of Direct Taxes and ors.

Court : Madhya Pradesh

Decided on : Oct-06-1999

Reported in : [2001]250ITR629(MP)

..... his income as a contractor. he claims that the amounts of rs. 75 ..... 4) of the chief commissioner of income-tax which has been communicated to the petitioner by letter dated february 20, 1997 of the commissioner of income-tax, jabalpur, by which the application for condonation of delay in claiming the refund of income-tax under section 119(2)(b) of the income-tax act, 1961, has been rejected.2. the petitioner is a contractor. income-tax has been deducted at source from ..... 14, 1997, that 'after careful consideration the board has rejected the request of shri dharam pal singh pall for condonation of delay'. it is argued that the amount of income-tax recovered from the petitioner cannot be retained by the respondents if it was not legally payable even if the claim for the refund is delayed. he relied upon the circular ..... to him. he has filed the returns in the year 1996. he applied for condonation of delay. that application has been rejected by respondent no. 1--central board of direct taxes, new delhi, as communicated to the petitioner by the impugned orders. notices have been served on the respondents. their standing counsel took time to file the return but it .....

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Sep 01 1999 (HC)

Commissioner of Income-tax Vs. Metachem Industries

Court : Madhya Pradesh

Decided on : Sep-01-1999

Reported in : (2000)161CTR(MP)444; [2000]245ITR160(MP)

..... the books of the firm, the addition therefor cannot be made in the case of the firm under cection 68 of the income-tax act, but the same has to be considered in the case of the partner ?'2. the brief facts necessary for disposal of this reference are that the asses-see is a ..... a.k. matiiur, c.j. 1. this is a reference under section 256(1) of the income-tax act, 1961 (for short, 'the act'), at the instance of the revenue and the following question of law has been referred for answer by this court :'whether the income-tax appellate tribunal was justified in holding that when there is credit in the capital account of the partner in ..... burden of the firm is discharged and in that case that credit entry cannot be treated to be the income of the firm for the purposes of income-tax. it is open to the assessing officer to take appropriate action under section 69 of the act, against the person who has not been able to explain the investment. in the present case, there is ..... the concurrent finding of both the commissioner of income-tax (appeals) as well as of the tribunal that the firm has satisfactorily explained the aforesaid entries.7. we are .....

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Aug 31 1999 (HC)

itarsi Oils and Flours Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Decided on : Aug-31-1999

Reported in : [2001]250ITR686(MP)

..... circumstances of the case, the tribunal was right in law in holding that the assessee was liable to pay interest under sections 234b and 234c of the income-tax act ?'2. the brief facts for disposal of this reference are as under ; the assessee-company filed a return on december 29, 1989, showing an ..... a.k. mathur, c.j. 1. this is a reference under section 256(1) of the income-tax act, 1961 (for short, 'the act'), at the instance of the assessee and the following question of law has been referred by the tribunal for answer by this court :'whether, on the facts and in the ..... view of the above position, notice under section 148 of the act was issued in response to which the assessee-company filed a return on january 28, 1993, showing an income of rs. 6,34,648 computed under section 115j of the income-tax act. notice under section 143(2) of the act was issued fixing the case on march 18, 1993. the assessing officer, after ..... computing the income of rs. 6,34,648 under section 115j of the act, issued a demand notice by order dated march 18 .....

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Aug 31 1999 (HC)

Pushpavati Vs. Collector of Customs and Central Excise

Court : Madhya Pradesh

Decided on : Aug-31-1999

Reported in : 1999(66)ECC550; 1999(114)ELT393(MP); 2000(1)MPLJ306

..... 4. immunities.(1) notwithstanding anything contained in the wealth tax act, 1957 (27 of 1957), the gift-tax act, 1958 (18 of 1958), the income tax act, 1961 (43 of 1961), the customs act, 1962 (52 of 1962), the foreign exchange regulation act, 1973 (46 of 1973) and the foreign contribution (regulation) act, 1976 (49 of 1976), -(a) no subscriber shall ..... they apply to asstt. commissioner for release after one year and signed on the panchnama. all this that the gold remained in the custody of income tax authorities till 14-6-1993 and was not available for being tendered by petitioners for conversion. consequently no duty was cast on the bank to ..... issue the bonds only on an application.8. the disputed gold in the present case though with the bank was legally in the custody of income tax authorities till it was finally ordered to be released on 9-6-1993 culminating in execution of panchnama and its delivery to petitioner no. 2 ..... state bank of india (respondent no. 3). assessee (petitioner no. 2) offered to disclose the value of the seized property as undisclosed income and paid the tax liability of rs. 14 lakh or so to secure release of the seized gold. he applied for its release on 8-11-1990 and ..... shall not be taken into account for the purposes of, and shall be inadmissible as evidence in, any proceedings under any of the said acts :provided that nothing contained in this sub-section shall apply where any proceedings in respect of the gold subscribed by the subscriber have already been .....

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Aug 31 1999 (HC)

Smt. Pushpavati and anr. Vs. Collector of Customs and Central Excise a ...

Court : Madhya Pradesh

Decided on : Aug-31-1999

Reported in : (1999)157CTR(MP)391

..... . iinmunities.-(1) notwithstanding anything contained in the wealth tax act, 1957 (27 of 1957), the gt act, 1958 (18 of 1958), the income tax act, 1961 (43 of 1961), the customs act, 1962 (52 of 1962), the foreign exchange regulation act, 1973 (46 of 1973) and the foreign contribution (regulation) act, 1976 (49 of 1976).-no subscriber shall be required ..... state bank of india (respondent no. 3), assessee (petitioner no. 2) offered to disclose the value of the seized property as undisclosed income and paid the tax liability of rs. 14 lakhs or so to secure release of the seized gold. he applied for the release on 8-11-1990, and ..... been initiated before the commencement of this ordinance in accordance with the provisions of any of the aforesaid acts. '(emphasis, italicised in print, supplied)7. it is not that issuance of bonds under the ordinance or the scheme is a routine affair ..... account for the purposes of, and shall be inadmissible as evidence in, any proceedings under any of the said acts.provided that nothing contained in this sub-section shall apply where any proceedings is respect of the gold subscribed by the subscriber have already ..... the source of money with which the gold was acquired;no inquiry or investigation shall be commenced against any subscriber under any of the said acts on the ground that such subscriber owns the gold bonds; andthe fact that any subscriber owns the gold bonds shall not be taken into .....

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Jul 29 1999 (HC)

Commissioner of Income-tax Vs. Keshipra and Co.

Court : Madhya Pradesh

Decided on : Jul-29-1999

Reported in : [2000]245ITR698(MP)

..... 21, 1990, is borne by the record and is apparent on its face. it is strange that it should have been overlooked by the assessing officer and the commissioner of income-tax (appeals). it is also sad that the revenue should have protracted this litigation for years on by catching hold of a non-issue of limitation in disregard to the crux ..... act, 1988, from april 1, 1989, and thus, was not attracted to the case. the commissioner of income-tax (appeals) dismissed the appeal and the assessee carried the matter to the tribunal which found on the facts that the assessee had ..... year 1985-86 and rs. 1,00,000 for the assessment year 1986-87 for not filing the audit report. the assessee took appeal against this before the commissioner of income-tax (appeals) and showed that the audit report was filed and that the requirement of filing the audit report was brought into force by the finance ..... on in courts for years. it serves the interest of none. it is high time that the revenue authorities indulged in self-introspection and realised the need for developing a 'tax friendly' culture. it is hoped that they would change with the times and exercise due application of mind in contesting litigation against taxpayers.5. this application is frivolous and is .....

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Jul 29 1999 (HC)

Commissioner of Income-tax Vs. Ladharam Lakhimal

Court : Madhya Pradesh

Decided on : Jul-29-1999

Reported in : [2000]245ITR340(MP)

..... income-tax appellate tribunal, indore, has referred the following question for the opinion of this court :'whether, on the facts and circumstances of the case, the tribunal is justified in holding that there was no approval by the range deputy commissioner for issuance of notice under section 143(2) of the act ?'2. it appears that the assessee filed a return of income for ..... of issue of notice which was allegedly granted on october 16, 1987. accordingly, a notice under section 143(2) was issued to the assessee and assessment made on a total income of rs. 3,75,235.3. the assessee took appeal against this which was allowed partly. the matter was carried to the tribunal by the revenue and it was found ..... issue is factual in nature. because so long as the revenue had failed to show that requisite approval was granted for issuance of notice under section 143(2) of the act, it could not be presumed that such approval was granted and was in existence. there is no dispute that notice under section 143(2)(b) could not be issued without .....

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Jul 28 1999 (HC)

Commissioner of Income-tax Vs. Pithampur Conzima (P.) Ltd.

Court : Madhya Pradesh

Decided on : Jul-28-1999

Reported in : [2000]244ITR442(MP)

..... has filed this application under section 256(2) of the income-tax act, 1961, for requiring the income-tax appellate tribunal to refer the following questions stated to be questions of law for the opinion of this court :'(i) whether, on the facts and in the circumstances of the case and in law, the income-tax appellate tribunal was justified in holding that the addition in respect ..... had been made despite the legal provisions of section 68 in this regard (ii) whether, on the facts and in the circumstances of the case and in law, the income-tax appellate tribunal was justified in allowing relief to the assessee in respect of the unexplained deposits on the basis of the individual returns filed by the depositors, particularly when this ..... issue was not raised before the learned commissioner of income-tax (appeals) and as such the same did not arise from his appellate order in the matter ? (iii) whether, on the facts and in the circumstances of the case and ..... and in view of the material on record and specific finding recorded by the assessing officer and the learned commissioner of income-tax (appeals) regarding the unproved credit worthiness and the genuineness of the transactions, the view taken by the income-tax appellate tribunal, for allowing relief to the assessee was not inconsistent with and contrary to material on record against the assessee .....

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Jul 20 1999 (HC)

Commissioner of Income-tax Vs. Suresh Chandra Mittal

Court : Madhya Pradesh

Decided on : Jul-20-1999

Reported in : [2000]241ITR124(MP); 2000(2)MPLJ82

..... the following question :'whether, on the facts and in the circumstances of the case, the tribunal was justified in cancelling the penalty levied under section 271(1)(c) of the income-tax act, 1961 ?'2. shorn of all details, it emerges that the assessee first filed his returns for the assessment years 1983-84, 1984-85, 1985-86 and 1986-87 showing ..... bona fide in the facts and circumstances of the case. therefore, the tribunal was justified in cancelling the penalty levied by the assessing officer and affirmed by the commissioner of income-tax (appeals) in the facts and circumstances of the case. this reference is accordingly answered in the affirmative holding that the tribunal was justified in doing so. ..... the assessment years rejecting the assessee's contention that he had revised his returns suo motu and had offered additional income to buy peace of mind and to avoid litigation.4. the assessee took appeal against this to the commissioner of income-tax (appeals) but failed, he then carried the matter to the tribunal and succeeded. the tribunal held as under ;'the assessee ..... on the act of voluntary surrender by the assessee, which obviously was done in good faith and to buy peace.'5. the tribunal also placed reliance on the supreme court judgment in sir shadilal sugar and general mills ltd. v. cit : [1987]168itr705(sc) , in support holding as under (page 713) :'we find that the assessee admitted that these were the incomes of .....

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