Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 13 of about 270,305 results (0.412 seconds)

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. .....

Tag this Judgment!

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 .....

Tag this Judgment!

Apr 02 2019 (HC)

Directorate of Enforcement vs.punjab National Bank & Anr

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 .....

Tag this Judgment!

Apr 02 2019 (HC)

The Deputy Director Directorate of Enforcement vs.state Bank of India ...

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 .....

Tag this Judgment!

Apr 02 2019 (HC)

Deputy Director Directorate of Enforcement vs.idbi Bank Ltd

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 .....

Tag this Judgment!

Apr 02 2019 (HC)

Union of India vs.punjab National Bank

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 .....

Tag this Judgment!

Apr 01 2019 (HC)

M/S. Tropex Promotion & Trading Ltd. Vs.the Commissioner of Income Tax

Court : Delhi

..... the facts of the case borne on the record, the appellate tribunal was right the assessment of the assessee-appellant company u/s 68 of the income tax act, 1961, in its re-assessment to income tax u/sof the act for the assessment year 1986-87 on an amount of rs. 75 lakhs, being the amount received by it from the subscribers to its additional ..... legal validity of the action of the assessing officer in initiating re- assessment proceedings against the assessee-appellant company for the assessment year 1986-87 u/sof the income tax act, 1961 for its alleged income of rs. 76,61,408/- on the basis of the observations/ statements of the assessing officer in the note recorded by him under the provisions of sub-sec ..... s.muralidhar justice i.s.mehta % order0104.2019 dr. s. muralidhar, j.:1. this appeal under section 260a of the income tax act, 1961 is filed by the assessee and is directed against an order dated 31st august 2000 passed by the income tax appellate tribunal ( itat?) in ita7484of 1992 for the assessment year 1986-87. while admitting this appeal on 15th january 2002 the ..... shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely:-"(a) where income chargeable to tax has been under-assessed; or (b) where such income has been assessed at too low a rate; or (c) where such income has been made the subject of excessive relief under this act or under the indian income-tax act, 1922 (xi of 1922); or (d) where excessive .....

Tag this Judgment!

Apr 01 2019 (HC)

Manju Jain & Anr vs.bank of Baroda & Ors

Court : Delhi

..... in view of the discussion as held above. the allegations that the ld. ro has sold the property-in-question without following the rules and regulations as mandated in the income tax act has also no force. i have gone through the auction proceedings as well as the record of the rc file. i have not found any substance in the allegations leveled ..... district. we agree with the consistent finding that the said transaction is a sham, and is vitiated by fraud. it is hit by section 53 of the transfer of property act. the petitioners, therefore, have no locus standi to prefer this petition.11. in these circumstances, we see no reason to interfere with the impugned order when it is evident that ..... not raise a challenge to the decree passed during the recovery proceedings.10. having considered the submissions and the decisions relied upon by the learned counsel for the petitioner in tax recovery officer ii, sadar, nagpur vs. gangadhar vishwanath rande (1998) 6 scc658and swaraj kishore arora vs. indian bank & ors.2016 wp(c) no.8819/2014 page 7 of 9 scc ..... no.2263/1991, wherein m/s jamuna properties pvt. ltd was arrayed as a defendant. upon coming into force of the recovery of debts due to banks and financial institutions act, 1993, the aforesaid suit was transferred to the drt as o.a.no.170/1996. the said oa was thereafter allowed by the tribunal vide its order dated 14.01 .....

Tag this Judgment!

Mar 27 2019 (HC)

Max Ventures Investments Holdings Pvt. Ltd. (Formerly Known as Dynaves ...

Court : Delhi

..... of rs 87,00,00,000/- has escaped assessment in case the of m/s max ventures investment holdings pvt. ltd. for the a/y201011 within the meaning of sectionof income-tax act, 1961. 5. mr. ajay vohra, learned senior counsel appearing for the assessee, impugned the reassessment notice and urged that when the scrutiny assessment for ay201112 had examined the matter and ..... . ravindra bhat hon'ble mr. justice prateek jalan s. ravindra bhat, j.1. this petition under article 226 of the constitution of india, challenges a reassessment notice under sectionsof the income tax act, 1961 ( the act hereafter) issued to the writ petitioner.2. the petitioner (hereafter assessee ) is a private limited company incorporated in india under the provisions of the companies ..... adequate or not is not a matter for the court to investigate. the sufficiency of the grounds which induce the income-tax officer to act is, therefore, not a justiciable issue. it is, of course, open to the assessee to contend that the income-tax officer did not hold the belief that there had been such non-disclosure. the existence of the belief can be ..... mere pretense or lack due application of mind by the assessing officer, the re-assessment proceedings initiated under section 147 of the act would not be valid. learned counsel relied on sheo nath singh vs. acit, 82 itr148(sc); income tax officer vs. lakhmani mewal das, 103 itr437(sc) and ganga saran & sons (p) ltd. vs. ito, 130 itr1 the following observations in .....

Tag this Judgment!

Mar 26 2019 (HC)

Principal Commissioner of Income Tax-6 vs.nalwa Sons Investment Ltd

Court : Delhi

..... ble mr. justice prateek jalan order % s. ravindra bhat, (open court) 1. these two appeals are preferred by the revenue under section 260a of the income tax act ( the act hereafter); they challenge an order of the income tax appellate tribunal ( itat ) relating to two assessment years concerning the assessee-respondent.2. in ita11422018, three questions of law are urged (i) with respect to ..... income from shares if interest bearing funds have been used by the assessee. section 14a may only be invoked if the assessee has made ..... expenditure also on which the assessee claimed that same were not incurred for earning any dividend income . in the case of cit vs abhishek industries ltd. [2016]. 380itr652(p&h) by the punjab & haryana high court held as under:-"to the assessing officer the income-tax act, 1961, "section 14a of empowers an assessing officer to disallow expenditure in relation to exempted ..... shares of banking or the granting of loans and advances); its total income mainly consists of income derived from the granting of loans and advances. such being the case, the cit(a) clearly falls into error in holding that the loss reported pertains to a speculative transaction; the itat acted correctly in law in setting aside that finding. therefore, no question .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //