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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 10 of about 263,910 results (1.260 seconds)

Aug 23 2017 (HC)

Bhavani and Others Vs. Govind Bhargavi and

Court : Kolkata

..... on the other hand (pages 186-190 of mary s application).reliance was also placed on form no.26as being mary s tax statement under sec. 203 aa of the income tax act for the financial year 2007-08 (page 183 of mary s application).the said account is the one mentioned in box-c ..... mentioned in the joint accounts, the same becomes part of abha s estate by operation of law. it has been demonstrated by placing reliance on the income tax returns of abha and mary as to how they themselves treated such accounts. the other submission of learned counsel for bikash that the money lying in ..... was actually shown in the income tax returns of mary. in the order dated 21 february, 2013, the learned judge, prima facie, held that mary would be allowed to operate the accounts ..... of details of bank accounts and term deposits where mary is the firs.holder. all such accounts shown in box-b have been declared in the income tax returns of mary. in boxc, the particulars of a single joint account is mentioned where notwithstanding the fact that abha was the firs.holder, the same ..... the same was subsequently modified by the order dated 21 february, 2013 when mary filed ga no.3234 of 2012 disclosing in detail from the respective income tax returns as to which accounts pertain to abha and which accounts pertain to mary. details of the funds were also disclosed and in that background, three .....

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Aug 17 2017 (HC)

Swamina International Private Limited and Anr. Vs. Income Tax Settleme ...

Court : Kolkata

..... august 17, 2017 debangsu basak, j.:- 1. the petitioners have challenged an order dated february 28, 2014 passed by the settlement commission exercising jurisdiction under the provisions of the income tax act, 1961.2. learned senior advocate for the petitioners has submitted that, the petitioners had made a reference to the settlement commission in respect of six assessment years commencing from 2001 ..... for the respondent has submitted that, subsequent to the order of the settlement commission, an assessment was done pursuant thereto. the petitioners had applied under section 154 of the income tax act, 1961 on may 13, 2014 for correction of such order of assessment. the same was disposed of by an order dated august 5, 2014. therefore, the petitioners cannot ..... are not entitled to challenge the view taken by the settlement commission. the petitioners have not been able to establish that, the settlement commission has acted in contrary to the provisions of the income tax act, 1961. two grounds of challenge made in the writ petition with regard to the order of the settlement commission were placed before the settlement commission ..... the settlement commission can be interfered with under article 226 of the constitution of india if such order is contrary to the provisions of the income tax act, 1961 and that, such contraventions of the act of 1961 are prejudicial to the petitioners. a writ petition is also maintainable if it can be substantiated that an order of the settlement commission .....

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Aug 17 2017 (SC)

Commissioner of Income Tax, Cochin Vs. M/S. Travancore Cochin

Court : Supreme Court of India

..... the question as to whether the fixation of rent and its payment is statutory or contractual and, if so, its effect while claiming deduction under the income tax act and, if so, in which year of assessment is a mixed question of law and fact. secondly, it was neither decided by any of ..... government.2) few facts need to be mentioned infra to appreciate the short controversy involved in the appeal.3) the respondent is an assessee under the income tax act. the state government, in the year 1965, acquired the land measuring 46.79.250 acres in varapuzha village (now eloor village) of parur taluk, ..... but it could be claimed only in the assessment year 1989-90.6) the respondent, felt aggrieved of the disallowance, filed appeal before the commissioner of income tax (appeals) ii, cochin. in appeal, the contention of the respondent (assessee) was that they claimed the deduction of the lease rent amount (rs. ..... maintained the order dated 25.06.1988 which had originally fixed the lease rent.5) it is with these background facts, the respondent filed their income tax return for the assessment year 1992-93. in the return, the respondent claimed deduction of accumulated lease rent amounting to rs.97,69,077/-. ..... the appeal filed by the appellant herein holding that the claim for 1 deduction of lease rent made by the respondent (assessee) in their income tax return is allowable in that assessment year wherein the dispute relating to lease rent has attained finality and not in the assessment year wherein the .....

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Aug 11 2017 (HC)

Pcm Strescon Overseas Ventures Ltd. and Anr. Vs. Deputy Commissioner o ...

Court : Kolkata

..... upon a circular dated march 10, 2016 which recognises such right to an assessee. he also refers to the provisions of section 92ca of the income tax act, 1961 also. the department is represented. it appears from the records that, the petitioner had suffered a show cause notice dated march 11, ..... matter to the tpo. as noted above, the assessing officer had invoked the provisions of section 92ca of the income tax act, 1961 in issuing the show cause notice. section 92ca (1) of the act of 1961 is as follows : 92ca. reference to transfer pricing officer (1) where any person, being the ..... no.214 of 2016 in the high court at calcutta constitutional writ jurisdiction original side pcm stresco.overseas ventures ltd.& anr. versus deputy commissioner of income tax, central circle13).kolkata & ors.before: the hon'ble justice debangsu basak date : 11th august, 2017. mr.mr.mr.mr.j.p.khaitan ..... , would give rise to a jurisdictional requirement. the assessing officer is required to record his satisfaction that, there is an income or a potential of an income arising and/or being affected on determination of the arm s length pricing of an international transaction or specified domestic transaction. ..... the exercise of jurisdiction by the assessing officer in transferring the assessment to the tpo. he further submits that, the assessing officer has acted in breach of the principles of natural justice in not granting a reasonable opportunity of hearing to the assessee concerned before taking a decision on .....

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Aug 10 2017 (SC)

K. Raveendranathan Nair Vs. Commnr. Of Income Tax .

Court : Supreme Court of India

..... the income tax appellate tribunal. in this very section, under sub-section (2)(b), court fees on such appeals was also ..... india civil appellate jurisdiction civil appeal no.3131 of2006k. raveendranathan nair & anr. versus .....appellant(s) commissioner of income tax & ors. .....respondent(s) w i t h civil appeal no.3130 of2006judgment a.k. sikri, j.by amendment in the income tax act, 1961 (hereinafter referred to as the it act ) in the year 1998, section 260a was inserted providing for statutory appeal against the orders passed by ..... 52a is deemed to have come into force on october 26, 2002. as per the amended provision, viz. section 52a of the 1959 act, the fee on memorandum of appeals against the order of the income tax appellate tribunal or wealth tax appellate tribunal is to be paid at the rates specified in sub-item (c) of item (iii) of article 3 of schedule ..... that any appeal filed on or after october 26, 2002 shall be governed by section 52a of the 1959 act.4) the appeals are filed both by the writ petitioner, whose writ has been dismissed, as well as the income tax department. the commissioner of income tax (appeals) has not accepted the decision of the high court 4 and the reason for that is obvious .....

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Aug 03 2017 (HC)

Tax Recovery officer47 Kolkata and Ors. Vs. State Bank of India and A ...

Court : Kolkata

..... the petitioners assail a sale notice dated december 21, 1992 and a proclamation of sale dated febraury 2, 1993 issued by the income tax department. learned advocate for the petitioners refers to the certificate granted under section 230a of the income tax act, 1961 and submits that, when such permission was granted in 1987, the question of order of attachment of 1976 existing for ..... putting up the property for sale. learned advocate appearing for the state bank of india submits that, the income tax authorities had dropped the acquisition proceedings in respect of the property. he refers to an application made under section 230a(1) of the income tax act, 1961 and submits that, the permission was granted therein. he also refers to the grant of permission and ..... the income tax department to issue a notice of proclamation of sale and attempt to sale the same does not arise. learned advocate for the income tax department submits that, the income tax clearance was in respect of ..... submits that, such permission states that, there are no dues on account of income tax. therefore, on the date of grant of such permission, there cannot be any .....

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Aug 03 2017 (SC)

Commissioner of Income Tax 1 Vs. M/S. Hindustan Petroleum Corporation ...

Court : Supreme Court of India

..... up for consideration. the question which came before this court was whether itat was justified in holding that the assessee was entitled to deduction under section 32-a of the income tax act, 1961, in respect of machinery used in mining activity ignoring the fact that the assessee was engaged in extraction and processing of iron ore, not amounting to manufacture or production ..... that on the facts of the cases in hand, there is certainly an activity which will come in the category of manufacture or production under section 80-ia of the income tax act.17. as stated hereinabove, the judgment of this court in aman marble industries (p) ltd. [(2005) 1 scc279: (2003) 157 elt393 was not required to construe the word production in ..... the process of bottling liquefied petroleum gas (lpg) cylinders meant for domestic use. they are claiming benefit of sections 80hh, 80-i and 80-ia of the income tax act, 1961 (hereinafter referred to as the act ). admissibility of benefit under the aforesaid provision depends upon the question as to whether bottling of lpg is an activity which amounts to 3 production or manufacturing ..... iron ore and the various processes would involve production within the meaning of section 32-a(2)(b)(iii) of the income tax act, 1961 and consequently, the assessee was entitled to the benefit of investment allowance under section 32-a of the income tax act. in that matter, it was argued on behalf of the revenue that extraction and processing of iron ore did not .....

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Jul 21 2017 (SC)

Ms. Eera Through Dr. Manjula Krippendorf Vs. State (Govt. Of Nct of De ...

Court : Supreme Court of India

..... . javali v. mahajan borewell & co. [(1997) 8 scc72:1997. scc (cri) 1239]. this court was considering a similar situation as in the present case. under section 278-b of the income tax act a company can be prosecuted and punished offence committed under section 276-b; sentence of imprisonment is required to be imposed under the provision of the statute and a company ..... pages 1059 and 1060) [dickerson: this p. 238]..18. similarly, in c.i.t. v. b.n. bhattacharjee, 1979 (3) scr1133the same learned judge in construing section 245m of the income tax act stated: we are mindful that a strictly grammatical construction is departed from in this process and a mildly legislative flavour is imparted by this interpretation. the judicial process does not ..... its own purposes chooses to legislate in this obscure manner does not force us to be the blind led by the blind. (at page no.470) through 13. the indian income tax act, 1960 has also been the subject matter of judicial criticism. often, amendment follows upon amendment making the numbering and the meaning of its sections and sub- sections both bizarre and ..... court referred to the view of lord ashbourne in nairn v. university of st. andrews27. 36. in the said case, the court referred to the objects and reasons of the income tax act, 1922 and turned to section 16(3) to understand the intention of the legislature and stated thus: 27. if this background of the enactment of section 16(3) is borne .....

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Jul 13 2017 (HC)

Commissioner of Income Tax, Kolkataiii Vs. M/S Britannia Industries Lt ...

Court : Kolkata

..... issue in this case is limited to the power of the assessing authority and does not impinge on the power of the income tax appellate tribunal under section 254 of the income tax act, 1961. there shall be no order as to costs. the similarity on facts between the case at hand and the assessee ..... determining the true figure of the assessee s liability. taxable merely because income the and the assessee consequential fails to tax claim the benefit of a set-off, it cannot relieve the income tax officer of his ..... in the case of cit versus mahalaxmi sugar mills co.ltd.reported in (1986) 160 itr920(sc) in which, inter alia, the following was said. in the second place, there is a duty cast on the income tax officer to apply the relevant provisions of the indian income tax act for the purpose of ..... the appeal was admitted on the following question: (a) whether in the facts and in the circumstances of the case the learned allowing the income tax, deduction appellate under tribunal section 80ggb erred in in law in respect of donation made by the assessee to the political parties. the facts relevant ..... in goetze (india) ltd.(supra) is that the respective deductions were not claimed before the assessing officer. in this case the cit(a) dismissed the .....

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Jul 13 2017 (HC)

Smt. Sumana Bandyopadhyay and Anr. Vs. The Deputy Director of Income T ...

Court : Kolkata

..... nre bank account maintained in india by the seafarer. 2. the matter has been examined in the board section 5(2)(a) of the income-tax act provides that only such income of a non-resident shall be subjected to tax in india that is either received or is deemed to be received in india. it is hereby clarified that salary accrued to a non ..... scrutiny assessment. admitted position is that during that year, the assessee had the status of non-resident under section 6 of the income tax act, 1961. the assessee had received the said sum from his two employers in a non-resident (external) bank account, commonly referred to nre account. 2. the appeal of the assessee ..... the assessee. we are of the view that the assessing officer was wrong in adding the aforesaid sum to the income chargeable to tax of the assessee for the relevant assessment year. we accordingly allow the appeal ..... be given to sub section (b) of section 5(2) of the act would also apply to section 5(2)(a) of the act. the circular is clarificatory in nature and is applicable for construing the aforesaid provision for the relevant assessment year. in our opinion the authorities under the income tax act did not properly apply the provisions of law to the case of .....

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