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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: supreme court of india Page 1 of about 21,447 results (0.243 seconds)

Jul 29 2020 (SC)

Shree Choudhary Transport Co. Vs. Income Tax Officer

Court : Supreme Court of India

..... . it was provided that in the case of assessees falling under the first category, no disallowance under section 40(a)(ia) of the income-tax act shall be made if the tax deducted by them during the last month of the previous year has been paid on or before the last day of filing of return in ..... and by paying the same to the credit of the government before the due date of filing of their returns under section 139(1) of the income-tax act. the disability to claim deductions on account of such lately credited sum of tds in assessment of the previous year in which it was deducted, ..... 1966) 60 itr262and the principles were laid down in the following terms (at pp. 264-266 of itr):- now, it is well-settled that the income-tax act, as it stands amended on the first day of april of any financial year must apply to the assessments of that year. any amendments in the ..... second category, amendments have been made in the provisions of section 40(a) (ia) by the finance act, 2010. *** 24. thus, the finance act, 2010 further relaxed the rigors of section 40(a)(ia) of the income-tax act to provide that all tds made during the previous year can be deposited with the government by the due ..... accordance with the provisions of section 139(1) of the income-tax act for the said previous year. in case, the assessees are falling under the second category, no disallowance under section 40(a)(ia) of income-tax act where the tax was deducted before the last month of the previous year and the same was .....

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Jul 22 2020 (SC)

Director of Income Tax -Ii New Delhi Vs. M/S Samsung Heavy Industries ...

Court : Supreme Court of India

..... avoidance 21 agreement with similar provisions. dealing with what was referred to as a fixed place , permanent establishment, this court held: 16. the income tax act, in particular section 90 thereof, does not speak of the concept of a pe. this is a creation only of the dtaa. by virtue of ..... arises in one contracting state on the basis of accrual of income in another contracting state on the basis of residence. thus, if the appellant ..... to which the income of non- resident would be liable to tax in india. section 9 has a direct territorial nexus. relief under a double taxation treaty having regard to the provisions contained in section 90(2) of the income tax act would arise only in the event a taxable income of the assessee ..... in india. resultantly, profits arising from the successful commissioning of the project would also arise only in india. this court s judgment in commissioner of income tax and another v. hyundai heavy industries co. ltd., (2007) 7 scc422 was distinguished by the learned assessing officer stating that, in that case, ..... the scope of taxation under the act, the application of the double taxation treaty would not arise. the double taxation treaty, however, was taken recourse to by the appellant only by way of an alternate submission on income from services and not in relation to the tax of offshore supply of goods. .....

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Jul 22 2020 (SC)

Shiv Raj Gupta Vs. Commissioner of Income-Tax, Delhi Iv

Court : Supreme Court of India

..... their view should be paid to in employee of the assessee. when a claim for allowance under section 10(2)(xv) of the income tax act is made, the income tax authorities have to decide whether the expenditure claimed as an allowance was incurred voluntarily and on grounds of commercial expediency. test of commercial expediency ..... which were earlier under the management and control of the assessee) to swc as terminal benefit and is taxable u/s 28(ii) of the income-tax act or same is exempt as capital receipt being non-competition fee by executing deed of covenant after going through the mou and the deed of covenant ..... a) whether the itat has correctly interpreted the provisions of section 28(ii) of the income tax act, 1961?. b) whether the ld. itat was correct in holding that receipt of rs.6.6 crores by the respondent/assessee as non-competitive fee ..... the appeal stood allowed by a majority of 2:1 in the appellate tribunal.8. the revenue preferred an appeal under section 260-a of the income tax act, 1961 to the high court. in its grounds of appeal, the revenue framed the substantial questions of law that arose in the matter as follows: ..... as a result, non-compete fee payable under the deed of covenant was not taxable under section 28(ii)(a) or any other provision of the income tax act, 1961. the learned judicial member on the other hand substantially agreed with the assessing officer, as a result of which he decided in favour of the .....

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Jul 17 2020 (SC)

M/S Ultratech Cement Ltd Vs. The State of Rajasthan

Court : Supreme Court of India

..... submitted that clause 13 of rips-2003, which confers power on the state government to revise slsc s orders, is identical to section 263 of the income tax act, 1961, which has been interpreted by this court in the manner that if the adjudication order constitutes one of the possible views, then no revision would ..... appeal nos.2506-2509 of 2020 decided on 05.06.2020, while dealing with an incentive provision contained in section 80-o of the income tax act, 196130, this court has taken note of the principles laid down in dilip kumar & co. and has held, inter alia, as under ..... by the appellant in the absence of any supporting material and without making any inquiry. on these facts the conclusion that the order of the income tax officer was erroneous is irresistible. we are, therefore, of the opinion that the high court has rightly held that the exercise of the jurisdiction ..... of the revenue and also referred to the cited decision in the case of malabar industrial co. ltd. v. commissioner of income tax, kerala state : (2000) 2 scc718while pointing out that the phrase prejudicial to the interest of revenue is of wide import and not confined to ..... and capital investment subsidy (wage component) would be subject to a maximum limit of fifty percent of the tax payable and deposited under the rajasthan sales tax act, 1994, the central sales tax act, 1956 and rajasthan value added tax act, 2003 (b) in case of investment made in modernization/ expansion, the amount of capital investment subsidy shall .....

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Jul 13 2020 (SC)

Sri Marthanda Varma (D) Th. Lr. . Vs. State of Kerala .

Court : Supreme Court of India

..... executed by the rulers, barring those regarding which there is express legislation enacted to give effect to certain personal rights and privileges e.g., income tax acts, 1922 and 1961, wealth tax act, 1957, gift tax act, 1958, notifications under the sea customs act, 1878, code of civil procedure, 1908 and code of criminal procedure, 1898. a ruler seeking to enforce privileges which parliamentary statutes have ..... of the provision providing for exemption in respect of privy purse. power is being taken to amend certain notifications issued under section 60a of the indian income-tax act, 1922 and continued by section 297 of the income-tax act, 1961, with a view to suitably modifying the notifications insofar as they relate to exemptions in favour of rulers (clause 7 of the bill). ..... to exemption from taxation, preservation of method of succession etc. were made to the income tax act, 1922, income tax act, 1961, wealth tax act, 1957 etc. significantly, section 5(ii) of the hindu succession act, 1956 also preserved the rules of succession for rulers and specifically stated that the provisions of this act would not apply to the states which were covered by the covenants or agreement ..... in respect of the gifts made out of privy purse is being withdrawn (clause 6 of the bill). it is also proposed to amend the income-tax act, 1967 to 5. provide for exemption of any ex-gratia payments made by the central government consequent on the abolition of the privy civil appeal no.2732 of 2020 .....

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Jun 29 2020 (SC)

The Commercial Tax Officer and Anr. Vs. Mohan Brewaries and Distriller ...

Court : Supreme Court of India

..... need and essence of the provisions when such circular was issued contemporaneously by the central board of direct taxes with introduction of the provisions of section 115-vf and 115-vg in the income tax act, 1961. as regards the circular, this court observed as under :- 30. we would also ..... like to refer to circular no.05/2005 dated 15-7-2005 explaining the need and essence of the introduction of these provisions which was issued contemporaneously by the central board of direct taxes ..... hotel balaji makes it clear that different provisions for levy of purchase tax in various state sales tax enactments, like those contained in gujarat sales tax act, 1969, uttar pradesh sales tax act, andhra pradesh general sales tax act, 1957 and haryana sales tax act19 amongst others, came up for consideration before this court in ..... particularly on 13 the observations occurring in a few paragraphs of said decision in relation to the provisions contained in the haryana general sales tax act, 1973.9 10.1.1. the learned senior counsel has also contended that the revenue itself had accepted such factual and legal decision ..... contents, it had no liability to tax under section 7-a of the act; and such clarifications remain binding on the revenue, as rightly held by the high court. 11.1. further, with reference to the decisions of this court in the cases of commissioner of income tax, kochi v. trans asian shipping .....

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Jun 15 2020 (SC)

The Inspector General of Registration Vs. K. Baskaran

Court : Supreme Court of India

..... of superintendence and correction in appropriate cases, it is exercisable even suo motu as is clear from the numerous statutory provisions relating to revision found in various acts and regulations such as the civil procedure code, criminal procedure code, income tax act, etc. the jurisdiction of suo motu revision is not cribbed and cabined or confined by conditions and qualifications. the purpose of such an amplitude being given ..... initiated. it is the correctness of that view which is now in issue.32. while considering the nature of power conferred by section 20(3) of the bengal finance (sales tax) act, 1941 where the commissioner upon application or of his own motion could revise any assessment or civil appeal no.2586 of 2020 @ slp (c)no.15790 of 2019 etc. the ..... of the order under section 22-a or separately as such under section 18-a?. (d) the question was considered as under: 14. section 18-a of the act prohibits excess collection of tax by an assessee. if any person civil appeal no.2586 of 2020 @ slp (c)no.15790 of 2019 etc. the inspector general of registration, tamil nadu & ors. vs ..... madras:13. the following observations made by ramaswami, j.in east asiatic co. (india) ltd. v. state of madras37 are also relevant the purposes of this act are twofold viz. the levy of a general tax on the sale of goods to supplement the lost revenues and for promoting the general public good; and secondly, to see that this is done under .....

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Mar 19 2020 (SC)

Rajasthan State Electricity Board Jaipur Vs. The Dy. Commissioner of I ...

Court : Supreme Court of India

..... mistake the assessee claimed 100% depreciation of rs. 333,77,70,317/- on written down value of assets instead of 75% depreciation. under the unamended section 32(2) of the income tax act, 1961 the assessee was entitled to claim 100% depreciation. however, after the amendment the depreciation could only be 75%. the assessee supported the returns with provisional revenue account, balance sheet ..... this proposition, we refer to the judgment in k.p. varghese v. ito. the court in that case was concerned with the correct construction of section 52(2) of the income tax act: (k.p. varghese case, scc p. 179, para 4 : scr p.639) 52. (2) without prejudice to the provisions of sub-section (1), if in the opinion of the ..... bench, jaipur by which d.b. civil special appeal (writ) no.837 of 1993 filed by the revenue has been allowed upholding the demand of additional tax under section 143(1-a) of the income tax act, 1961.2. brief facts necessary to be noted for deciding this appeal are: the assessee is a government company as defined 2 under section 617 of the ..... vires of section 143(1-a) has been repelled by different high courts and this court. section 143(1-a) has been inserted in the income tax act so that the assessee may not be able to evade tax by resorting to the method of showing loss first and then reducing the loss. learned counsel submits that the division bench of the high 7 .....

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Mar 06 2020 (SC)

Indore Development Authority Vs. Manoharlal and Ors. Etc.

Court : Supreme Court of India

..... it in express berms and would not merely have repealed it by the second sub-section. in the first sub-section mention is made of other sections of the income tax acts, but not of s.108. it must be taken, he argued, that parliament had in mind the difficulties created by s. 108, which were pointed out ..... produce and trading co. ltd. vs. the c.i.t., west bengal, calcutta74, was relied upon in the discussion mentioned above, where provisions of section 23a of the income tax act, 1922 and the explanation (b)(ii) and (iii) came up for consideration. this court ruled with respect to "or" and held that it had to be read as ..... of the section and does not extend to a charge made in respect of profits derived from foreign possessions or securities under s.108 of the income tax act, 1842. in support of this argument he relied upon the express reference in the first sub-section of s.32 to s.106, and s.146 of ..... , such a tender or offer would be sufficient compliance with the statute. the benares state bank ltd. v. the commissioner of income tax, lucknow144, was decided in the context of section 14(2)(c) of the income tax act, 1922. it was observed that "paid" under section 16 does not contemplate actual receipt of the dividend by the member of ..... the income tax act, 1842, upon the omission of any reference in this sub-section to s.108, and upon the repeal in sub- s.2 of s.32 of .....

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Mar 05 2020 (SC)

M/S. Super Malls Private Limited. Vs. Principal Commissioner of Income ...

Court : Supreme Court of India

..... -12, huda, karnal regd. office at 51, transport centre, punjabi bagh, new delhi under section 153c of the income tax act, 1961. the jurisdiction of this case has been assigned to this office u/s 127 of the income tax act, 1961 by the worthy commissioner of f. income tax-iii no.citiii/delhi/centralization/1012-1312455 dated 15.01.2013. new delhi vide order by virtue of ..... stated and considered. the facts in nutshell are as under:2. 1 by virtue of the authorization of the director of income tax (investigation), chandigarh, a search and seizure operation under section 132(1) of the income tax act, 1961 (hereinafter referred to as the act ) was carried out on 8/9.04.2010 at the residential/business premises of shri tejwant singh and shri ved ..... the authorization of the director of income tax (investigation), chandigarh, a search & seizure operation u/s 132(1) of the act was carried out on 08/09.04.2010 ..... prakash bharti group of companies at karnal, panipat and delhi. a survey under section 133a of the act was also carried out at the business premises of .....

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