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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 12 of about 270,303 results (0.602 seconds)

Apr 15 2019 (HC)

Principal Commissioner of Income Tax-9 vs.om Prakash Jakhotia & Anr.

Court : Delhi

..... incriminating register containing details of cash loans was also recovered and seized. the first respondent, om prakash jakhotia made a statement recorded under oath under section 132(4) of the income tax act. the relevant details disclosed over pricing of bags/sacks of cement sold to the dalmia group. the statement regarding loan credits inter alia, is as follows: w.p.(c)no ..... derived and (iii) the additional amount of income tax payable on such income.22. it is clear that disclosure of "full and true" particulars of undisclosed income and "the manner" in which such income had been derived are the pre- requisites for a valid application under245c (1) of the act. additionally, the amount of income tax payable on such undisclosed income is to be computed and mentioned in the ..... application. it needs little emphasis that 245c (1) of the act mandates "full and true" disclosure of the particulars of undisclosed income and "the manner" in which such income was derived and, therefore, unless the settlement commission records .....

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Apr 10 2019 (HC)

Mahindra Electric Mobility Limited and Anr. Vs.cci and Anr.

Court : Delhi

..... , from an order passed by the ntt directly to the supreme court, there would hardly be any occasion, to raise a challenge on a tax matter, arising out of the provisions of the income tax act , the customs act and the excise act before a jurisdictional high court. even though the learned attorney general pointed out, that the power of ?judicial review? under articles 226 and ..... hierarchy of tribunals are intended to safeguard the interest of the assessees as well as the state by correcting wrong orders. the fact that, following the analogy of the income-tax act, at the instance of the party aggrieved a reference can be made by the reviewing authority to the high court on a question of law shows only that the help ..... of hearing is preceded by a composite one; in other cases, however, of necessity, a show cause notice is to be issued separately. in the income tax act, 1961, for instance, every person or entity who earns taxable income has a duty to file returns; those returns then can be merely framed without adjudication (under section 143(1)) or assessed, after due notice of ..... of the learned counsel for the petitioners, that before and after promulgation of the constitution, till the enactment of the ntt act, all legislative provisions vested the appellate power of adjudication, arising out of the income tax act, the customs act and the excise act, on questions of law, with the jurisdictional high courts. instant proposition has 113. having recorded the above conclusion, the next .....

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Apr 09 2019 (HC)

Sanjivani Non-Ferrous Trading Pvt. Ltd. Vs.income Tax Officer Ward 22( ...

Court : Delhi

..... assessment for ays 2011-12 and 2012-13 through orders dated 31.03.2018. in both the cases, the assessments were originally completed under section 143(3) of the income tax act, 1961 [hereafter the act ]..2. the petitioner is a subsidiary of m/s. century metal recycling private limited [hereafter cmr ].. a survey was taken of cmr on 26.03.2015. the survey ..... is not a case of mere change of opinion or the drawing of a different inference from the same facts as were earlier available but acting on fresh information. since, the belief is that of the income-tax officer, the sufficiency of reasons for forming the belief, is not for the court to judge but it is open to an assessee to establish ..... found by further enquiry or investigation, whether the transaction was genuine or not, if one the basis of subsequent information, the income-tax officer arrives at a conclusion, after satisfying the twin conditions prescribed in section 147(a) of the act, that the assessee had not made a full and true disclosure of the material facts at the time of original assessment and ..... % of sales turnover of rs. 5,97,36,46,243 less profit already declared rs.33,12,137) escaped assessment as defined by section 147 of the act for a.y2012-13. the income chargeable to tax has escaped assessment for this year by the reasons of the failure on the part of the assessee to w.p.(c) 11736/2018 & 12546/2018 .....

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Apr 09 2019 (SC)

M/S. d.j. Malpani Vs. Commissioner of Central Excise, Nashik

Court : Supreme Court of India

..... transaction. this court page 8 of 18 considered the nature and character of dharmada in bijli cotton mills (supra). that case arose under the income tax act. the assessee used to realise certain amounts on account of dharmada from his customers on sales of yarn and bales of cotton. the rate ..... be included in the assessable value.7. in addition, the appellant contended that this court has clearly held in the case of the commissioner of income tax (central) delhi, new delhi vs. bijli cotton mills (p) ltd. hathras, district aligarh3 that amounts received for dharmada and earmarked for charitable ..... trust for charitable purposes.16. the high court, however, held that the impugned amounts paid as dharmada were never the income of the assessee and assessee was merely acting as a conduit for passing on the amounts to the objects of charity. these amounts were never treated as trading receipts ..... purposes are amounts received by the assessee under an obligation to spend the same for charitable purposes. therefore, these receipts cannot be regarded as income of the assessee.8. on noticing the above contentions, a division bench of this court vide order dated 29.7.2015 has referred the ..... appellant has come in appeal against the order of the central excise and service tax appellant tribunal (for short cestat ) dated 04.04.2007. the respondent manufactured goods falling under chapter 72 of the central excise tariff act, 1985. the respondent manufactured pig iron and hr coil sheets. while selling the .....

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Apr 08 2019 (HC)

Manipal Academy of Higher Education vs.union of India & Anr.

Court : Delhi

..... over the applicant. (2) annexure to the application [in]. form no.3cf-i shall be filled out if the association claims exemption under clause (21) of section 10 of the income-tax act. (3) the applicant shall send a copy of the application in form no.3cf-i or, as the case may be, form no.3cf-ii to member (it), central board ..... the grant of requisite approval. accordingly, i am directed to communicate that the aforesaid application in form 3cf-ii dated 23.06.2014 has been rejected.? provisions of the income tax act and rules 4. the relevant provisions of section 35(1) are reproduced below: 35. expenditure on scientific research.- (1) in respect of expenditure on scientific research, the following deductions shall ..... , j.% 1. this writ petition is directed against an order dated 30.07.2015 whereby the petitioner has been denied approval under section 35 (1) (ii) of the income tax act 1961 (hereinafter, "the act"). facts and impugned order 2. the petitioner is a registered trust formed on 19.05.1993 and claims to undertake educational and research activities. it was granted registration as ..... .p.(c) 9996/2015 page 6 of 22 xii. in view of facts mentioned above, the applicant does not merit approval u/s 35(1)(ii) of the income-tax act, 1961. accordingly, the prescribed authority in central government, being the union finance minister has held that m/s manipal academy of higher education, manipal is not a fit case for .....

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Apr 08 2019 (HC)

National Projects Construction Corporation Limited (Npcc) vs.deputy Co ...

Court : Delhi

..... so that revenue is not deprived of its dues. the direction to the assessee for compulsory audit of accounts u/s 142(2a) of the income tax act does not affect the assessee's right especially in view of the fact that cost of audit is not payable by the assessee but by the department ..... 12.2018 that the... petitioner received an email from the respondent no.1 intimating the authorisation for conduction of special audit u/s 142(2a) of the income tax act, 1961. however, it is pertinent to note that a copy of the impugned order was not attached to the said email. further, the... petitioner was ..... order 2. signed on 28.12.2018 directing to get its books of account audited by a special auditor in terms of section 142(2a) of the income tax act, 1961 by way of the writ petition (c) no.592 of 2019. it is submitted that in addition to the pleadings already made in the writ ..... cause as why your accounts should not be get audited by an accountant nominated by the department as per provisions of section 142(2a) of the income tax act, 1961 and why such accountant not be asked to furnish the report such audit in the prescribed for duly signed and verified by him, in the ..... justice prateek jalan mr. justice s. ravindra bhat % 1. in the present writ petition, the validity of an order under section 142(2a) of the income tax act (hereafter referred to as act ) issued by the assessing officer (hereafter referred to as ao ) on behalf of the respondent (hereafter referred to as revenue ) has been challenged. the .....

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Apr 08 2019 (SC)

Pr. Commissioner of Income Tax 6 Vs. Nokia India Pvt. Ltd.

Court : Supreme Court of India

..... order, the division bench of the high court dismissed the revenue's (appellant herein) appeal filed under section 260 a of the income tax act, 1961 (hereinafter referred to as the act ) on the ground that it did not involve any substantial question of law within the meaning of section 260 a of the ..... the supreme court of india civil appellate jurisdiction civil appeal no.3450 of2019(arising out of s.l.p.(c) no.32222 of 2017) pr. commissioner of income tax 6 .appellant(s) versus nokia india pvt. ltd. .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. this appeal is filed ..... act.5. in other words, the high court was of the view that since the appeal did not involve any substantial question of law, it deserves dismissal in limine.6. the appellant is the revenue (commissioner of income tax) and the respondent is an assessee. the ..... issue arises out of an assessment year (1999 2000).7. the issue essentially relates to legality and correctness of the notice issued by the assessing 2 officer (ao) to the respondent under section 148 of the act and to the consequential determination ..... be answered by the high court on their respective merits while deciding the appeal filed by the revenue (appellant herein) under section 260 a of the act.13. we are, therefore, of the view that such order is not legally sustainable in law and hence deserves to be set aside.14. in .....

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Apr 08 2019 (HC)

Junaid Iqbal Mohammed Memon vs.union of India & Ors.

Court : Delhi

..... in the summons that non-compliance with the summons will attract a penalty under section 13 of fema read with section 272a(1) of the income tax act, 1961. the petitioner replied to the aforesaid letter requesting four weeks time to file the necessary documents. the said request was accepted by the ..... the ed.9. thereafter, ed sent another letter dated 15.05.2015 under section 37 of fema read with section 133(6) of the income tax act, 1961 to the petitioner calling upon him to furnish the said information within seven days from the receipt of the letter. in response to the ..... horizon estate constructors pvt. ltd. the directives were issued to the petitioner under section 37 of fema read with section 133(6) of the income tax act, 1961, in his capacity as being one of the directors of the aforesaid four companies. it was further stated therein that the said information ..... scheme, the division bench had repelled the contention that a passport could be suspended or revoked under section 10(3)(c) of the passports act on account of non- appearance before the investigation proceedings under fema.21. the court had also noticed that provisions of fema do not entail custodial ..... ground that the petitioner has failed to appear in person before the concerned officers investigating the alleged violation of the provisions of foreign exchange management act, 1999 (hereafter fema?).4. the petitioner contends the action of the respondents to impound his passport is arbitrary inasmuch as it is not .....

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Apr 03 2019 (HC)

Manish Kumar and Ors. Vs.union of India and Ors.

Court : Delhi

..... the court explained this principle in the following manner: (scc pp. 478- 79, paras 33-37) ?33. cbdt has the requisite jurisdiction to interpret the provisions of the income tax act. the interpretation of cbdt being in the realm of executive construction, should ordinarily be held to be binding, save and except where it violates any provisions of law or is ..... pointed out by this court in desh bandhu gupta v. delhi stock exchange assn. ltd. [(1979) 4 scc565 and k.p. varghese v. ito [(1981) 4 scc173:1981. scc (tax) 2 (1981) 131 itr597 that a contemporaneous exposition by the administrative authorities is a very useful and relevant guide to the interpretation of the expressions used in a statute. considering ..... the subject- matter.? 26. we are also of the opinion that another principle of interpretation of statutes, namely, principle of contemporanea expositio also becomes applicable which is manifest from the act of the government in issuing two notifications giving effect to rule 18. this principle was explained by the court in desh bandhu gupta and co.v. delhi stock exchange assn ..... of our constitution, which were created for fortifying the strong federal structure of the country besides being a powerful unifying influence in binding the constituent states and also to counter act regional/ parochial tendencies. all india services helps the states which are not able to provide manpower of the requisite strength and calibre for various government functions and development projects. .....

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Apr 02 2019 (HC)

The Deputy Director Directorate of Enforcement Delhi vs.axis Bank & O ...

Court : Delhi

..... of insolvency code on pmla was not in issue before the supreme court in the aforesaid case, the prime concern being the conflict arising out of claims of revenue under income tax act, 1961 vis- -vis proceedings under the insolvency code. for the same reasons, the ruling of the full bench of the madras high court in indian overseas bank (supra ..... parekh and co. & ors. (2000) 5 scc694and its progeny, making it clear that income-tax dues, being in the nature of crown crl. appeal no.143/2018 & others page 82 ..... in special leave to appeal (civil) no.6483/2018, principal commissioner of income tax vs. monnet ispat and energy limited :-"the insolvency and "given section 238 of bankruptcy code, 2016, it is obvious that the code will override anything inconsistent contained in any other enactment, including the income-tax act. we may also refer in this connection to dena bank vs. bhikhabhai prabhudas ..... foreign exchange manipulators (forfeiture of property) act, 1976 ("safema", for short) came on the statute book with the avowed objective of meeting the challenge of "serious threats to the economy and the security of the nation" posed by activities in the nature of smuggling, foreign exchange manipulations and violation of certain laws (income tax, wealth tax, etc.) by malpractices resulting in .....

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