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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 100 of about 263,910 results (0.487 seconds)

Mar 09 2015 (HC)

Commissioner of Income Tax, Kolkataiv, Kolkata Vs. M/S. Carbon Corpora ...

Court : Kolkata

..... gunny bags is an independent income and, therefore, is squarely within the mischief of explanation (baa) under sub-section (4c) of section 80hhc which provides as follows ..... , etc., which formed part of the gross total income, the same had to be reduced by 90 per cent as contemplated in clause (baa) to arrive at business profit. therefore, the said processing charges were includible in the total turnover in the formula under section 80hhc(3) of the income-tax act. he contended that income from sale of scrap or empty oil drums or ..... . mr.somak basu, adv.for the respondent. the court: the subject matter of challenge in this appeal is a judgement and order dated march 10, 2004 passed by the learned income tax appellate tribunal. aggrieved by the order, the revenue has come up in appeal. the following two questions have been suggested by the appellant: i) whether, on the facts and in ..... deleting the disallowance of rs.1,54,245, being presentation articles, under rule 6b of the income-tax rules, 1962. ii) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in allowing deduction under section 80hhc of the incometax act, 1961, without reducing the profits of the business by 90% of the miscellaneous receipts amounting to .....

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Mar 09 2015 (HC)

Dhanraj Jakhu Gadhvi (Seda) Vs. State of Gujarat and Others

Court : Gujarat

..... believe that under assessment had resulted from non- disclosure of material facts, before the income- tax officer himself in the assessment proceedings and, if unsuccessful there, before the appellate officer or the appellate tribunal or in the high court under section 66(2) of the indian income-tax act. the existence of such alternative remedy is not however always a sufficient reason for refusing ..... a party quick relief by a writ or order prohibiting an authority acting without jurisdiction from continuing such action." the issue before the supreme court was altogether different. the ..... under assessment has resulted from non-disclosure of material facts cannot therefore be accepted. 27. mr.sastri next pointed out that at the stage when the income-tax officer issued the notices he was not acting judicially or quasi-judicially and so a writ of certiorari or prohibition cannot be issued. it is well settled however that though the writ of prohibition ..... and not touching the question of jurisdiction. having regard to the peculiar language of the provisions of the act and the object, it appears that such view was taken by the supreme court. the supreme court took the view that where the income tax officer has reason to believe that under-assessment has resulted from non-disclosure only, then he will .....

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Mar 09 2015 (HC)

Dulchand Omprakash Vs. Dhirendro Mullick and Ors.

Court : Kolkata

..... the date on which rabindro mullick had issued the letter dated july 30, 1984 being exhibit b stating that an application under section 230a of the income tax act, 1961 for obtaining income tax clearance certificate from the concerned income tax officer would be filed. the plaintiff claims exhibit c to be dated july 30, 1984 by virtue of exhibit b . exhibit b has been signed by ..... promised to execute the lease as and when such certificate was obtained. the defendant nos. 1, 2 and 3 made an application under section 230a of the income tax act, 1961 on july 30, 1984. the income tax authorities issued a certificate on october 18, 1984. according to the plaintiff, the time for execution and completion of the lease was extended from time to time ..... as the list of tenants are different. according to the defendant nos. 3, 6 and 7 the plaintiff by misrepresentation got purnendro mullick to apply under section 230a of the income tax act, 1961. the allegation made in the paragraph 5 of the plaint has not been established in evidence. it is contended on behalf of the defendant nos. 3, 6 and 7 ..... rabindro mullick. there is no evidence on record to suggest that rabindro mullick was duly authorized by the trustees of the trust to issue exhibit b or to apply for income tax clearance certificate. exhibit c is signed by purnendu mullick. exhibit c is not signed by the plaintiff. again there is no evidence to suggest that purnendu mullick was duly authorised .....

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Mar 06 2015 (HC)

Onmobile Global Ltd. Vs. Chairman, Authority for Advance Rulings (Inco ...

Court : Karnataka

..... of the applicant. in a case like this, where a party seeks advanced ruling, under the provision of the income tax act, from the authority to find out as to whether certain provisions of the act would be applicable in the case of the applicant-writ petitioner or not, the endeavour of the authority should ..... 09.12.2010, the petitioner filed an application before the first respondent-authority for advance rulings (income tax), new delhi, (hereinafter referred to as 'the authority' for brevity) seeking a ruling on the applicability of withholding tax provisions of the income tax act, 1961, relating to one-time premium paid by the petitioner-company to the telecom operator ..... costs. 11. the contention raised by the learned counsel for the respondents with regard to the applicability of section 245rr of the income tax act, 1961, shall be left open to be considered by the authority concerned. ..... j. 1. by means of this writ petition, the petitioner has challenged the order dated 16.01.2014 passed by the authority for advance rulings (income tax) new delhi, whereby the application has been dismissed for non-prosecution and also the order dated 30.04.2014, whereby the application for restoration has ..... litigation so that the parties (assessee and the department) may come to a definite conclusion as to whether the assessee would be liable to pay the tax or not. 9. in the present case, the application of the writ petitioner had been admitted by the authority after hearing and finding that the matter .....

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Mar 06 2015 (HC)

G.Sunilkumar Vs. The Deputy Director of Income Tax Central Circle

Court : Kerala

..... .7182 of 2015 ............................................................. dated this the 6th day of march, 2015 judgment against exts.p1 to p14 orders passed under section 143 (3) read with section 153 c of the income tax act, the petitioners have preferred exts.p15 to p28 appeals before the 2nd respondent. one of the contention taken by the petitioners in the appeals before the 2nd respondent is that ..... adv. sri.ramesh cherian john respondent(s): --------------- 1. the deputy director of income tax central circle, public library buildings, sasthri road, kottayam - 686 001.2. the commissioner of income tax (appeals)-iv, kera bhavan, kochi- 682 018 3. the additional director of income tax, palakkad - 678 014. by sri.jose joseph, sc, for income tax & this writ petition (civil) having come up for admission on0603-2015, the court .....

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Mar 04 2015 (HC)

Jrd Stock Brokers (P) Ltd. Vs. Commissioner of Income Tax-Ii

Court : Delhi

..... 236/del/2006. the question of law urged is: whether in the circumstances of the case, the penalty under section 158bfa(2) of the income tax act, 1961 could be levied in respect of income which was not undisclosed income but was determined on the basis of estimation on the application of weight formula on gross credits in various bank statements considered as turnover?. ita1342014 ..... that an estimation of income tax logically based upon inference drawn in the case of block assessment procedure is per se excludable from the ambit of the penal ..... amounts to be derived on account of share trading transactions. the assessee s contentions were rejected because the ao and the cit(a) found that in the statement recorded under section 132(4) of the income tax act, 1961 (hereafter referred to as the act ), the assessee had admitted that the said sum of `1,04,76,94,004/- was actually not entirely based ..... and in such cases the penalty shall be imposed on that portion of undisclosed income determined which is in excess of the amount of undisclosed income shown in the return. 9. the plain terms of the provision which harkaran (supra) emphasised occur in a separate part of the income tax act. chapter xiv-b entitled special procedure for assessment of search cases nowhere indicates .....

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Mar 03 2015 (HC)

Commissioner of Income Tax-Viii Vs. Indian Farmer Fertilizer Co-Opera ...

Court : Delhi

..... pay interest under section 244a till payment is made. 7. section 244a(1) of the income tax act reads as follows : 244a. interest on refunds.- (1) where refund of any amount becomes due to the assessee under this act, he shall, subject to the provisions of this section, be entitled to receive, in addition ..... of the interest payable and not any amount over and above it. it was next contended that the decision of the supreme court in commissioner of income tax v. heg ltd. (2010) 324 itr331supports the view adopted by the itat. learned counsel also stated that a division bench of this court had ..... amount over and above the interest directed by section 244a(1) itself. learned counsel placed reliance upon the decision of the supreme court in commissioner of income tax v. ita5422012 page 3 gujarat fluoro chemicals 358 itr291 in that judgment, the court noticed sandvik asia ltd. (supra) and held pertinently as follows ..... was no requirement in law for the assessee to claim the interest. ld. commissioner of income tax (appeals) further observed that assessee has also sought that it be granted interest on the delayed payment of interest, relying on the apex court ..... end of the year in which the order sought to be amended was passed.6. upon assessee s appeal in this regard ld. commissioner of income tax (appeals) held that he agreed with the assessee that interest u/s 244a should have been granted by the assessing officer, for which there .....

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Mar 03 2015 (HC)

Cit Vs. Indian Farmer Fertilizer Co-Operative

Court : Delhi

..... pay interest under section 244a till payment is made. 7. section 244a(1) of the income tax act reads as follows : 244a. interest on refunds.- (1) where refund of any amount becomes due to the assessee under this act, he shall, subject to the provisions of this section, be entitled to receive, in addition ..... of the interest payable and not any amount over and above it. it was next contended that the decision of the supreme court in commissioner of income tax v. heg ltd. (2010) 324 itr331supports the view adopted by the itat. learned counsel also stated that a division bench of this court had ..... amount over and above the interest directed by section 244a(1) itself. learned counsel placed reliance upon the decision of the supreme court in commissioner of income tax v. ita642013 page 3 gujarat fluoro chemicals 358 itr291 in that judgment, the court noticed sandvik asia ltd. (supra) and held pertinently as follows ..... was no requirement in law for the assessee to claim the interest. ld. commissioner of income tax (appeals) further observed that assessee has also sought that it be granted interest on the delayed payment of interest, relying on the apex court ..... end of the year in which the order sought to be amended was passed.6. upon assessee s appeal in this regard ld. commissioner of income tax (appeals) held that he agreed with the assessee that interest u/s 244a should have been granted by the assessing officer, for which there .....

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Mar 03 2015 (HC)

Cit Vs. Amit Jain

Court : Delhi

..... assessment intimation u/s 143 (1) page 2 2004-05 ltcg & stcg200506 ltcg & stcg200607 ltcg & stcg200708 ltcg & stcg200809 ltcg & stcg of the income-tax act, 1961 ( the act?) intimation u/s 143 (1) of the act. assessment u/s 143 (3) of the act, accepting the appellant as investor if and the gains as capital gains. ltcg= accepted by the assessing officer stcg=in dispute. intimation ..... inference can readily be drawn that the activity is in the nature of business. the above ruling was approved and applied in the judgment of this court in commissioner of income tax v. central news agency pvt. ltd., (ita10322011, decided on 9.9.2014).6. learned senior counsel for the assessee contended that the record clearly indicates that as against 1833 shares ..... nature of the transactions, a proper application of the legal tests, would result in the treatment of sum of `2.61 crores as business income. learned counsel relied upon the judgment of gujarat high court in commissioner of income tax v. rewashanker a. kothari, (2006) 283 itr338which had formulated the following tests to decide whether the nature and character of sums reported as ..... that short term capital gain as claimed was inadmissible and brought the sum of rs.2.61 crores to tax under the head business income .3. the assessee s appeal was rejected by the cit (appeals) by a reasoned order. on further appeal to the income tax appellate tribunal (itat), the tribunal accepted the assessee s contentions.4. the basis of the itat s findings .....

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Mar 03 2015 (HC)

Srijan Nirman Pvt. Ltd. Vs. Commissioner of Income Tax, Kolkata – 3 ...

Court : Kolkata

..... before the department. the section 263 order was passed on 22nd march 2013. according to the above acknowledgement slip, notice under section 263 of the income tax act, 1961 was sought to have been received on 22nd march 2013. mrs.ghughutia clarifies this by saying that notice should be read as order. ..... preferred an appeal before the commissioner (appeals).the writ petitioner also preferred a stay petition before the assessing officer under section 220(6) of the income tax act, 1961. at this stage, mrs.asha ghutghutia, learned advocate for the respondents handed over some papers of the department to me wherefrom it appears ..... and 107 of the petition. now it appears that on 9th april 2010 an assessment order was passed under sections 147/143(3) of the income tax act in respect of the writ petitioner for the assessment year 2008-2009. thereafter, section 263 proceedings were started by the department. it was commenced ..... itr69 a judgment of our court to the effect that pendency of an appeal does not bar recovery proceedings under section 226(3) of the income tax act, 1961. she submitted that this decision refers to a host of decisions pronounced by different high courts of our country and the supreme court, ..... petitioner for the assessment year 2011-2012 disclosing its address at queens park and the intimation under section 143(1) of the income tax act dated 13th february 2012 containing the self-same changed address. similar documents were shown to me with regard to the assessment year .....

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