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Mar 12 2019 (SC)

Commissioner of Income Tax Jaipur Vs. M/S Gopal Shri Scrips Pvt Ltd

Court : Supreme Court of India

..... set aside. the case is remanded to the high court for deciding the appeal afresh on merits in accordance with law keeping in view the relevant provisions of companies act and the income tax act uninfluenced by any observations made by us on merits.18. indeed, having formed an opinion to remand the case for the reasons mentioned above, we refrain ourselves from making ..... court was wrong in dismissing the appeal as having rendered infructuous.13. the high court failed to notice section 506(5) proviso (a) of the companies act and further failed to notice chapter xv of the income tax act which deals with "liability in special cases" and its clause (l) which deals with "discontinuance of business or dissolution".14. the aforementioned two provisions, namely ..... out of which this appeal arises.5. the appellant herein filed an appeal under section 260 a of the income tax act, 1961(hereinafter referred to as the act ) in the high court of rajasthan (jaipur bench) against the order dated 28.04.2000 of income tax appellate tribunal (itat) in ita no 226/jp/1999.6. by impugned order, the high court dismissed the appeal ..... 5 15. these provisions provide as to how and in what manner the liability against such company arising under the companies act and under the income tax act is required to be dealt with.16. since the high court did not decide the appeal keeping in view the aforementioned two relevant provisions, the impugned order is not legally .....

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Mar 06 2019 (HC)

Vikram Krishnan vs.principal Commissioner of Income Tax

Court : Delhi

..... of the itat, which upheld the ao s determination with respect to the addition made in this case for a.y. 2010-11 under section 2(22)(e) of the income tax act, 1961 2. it is urged that the itat fell into error in not noticing the true nature of the transaction for refund of the advance amounts received by the assessee ..... $~71 * in the high court of delhi at new delhi decided on:6. h march, 2019. + ita2172019 vikram krishnan through: mr. s. krishnan, adv. ..... appellant versus principal commissioner of income tax ........ respondents through: mr. ashok k. manchanda, sr. std. counsel. coram: hon ble mr. justice s. ravindra bhat hon ble mr. justice prateek jalan s. ravindra bhat, j.(open court) % 1. ..... as on 1/4/2009 of rs. 10136328/-, the ld. assessing officer issued show cause notice to the assessee that why the above amount should not be taxed u/s 2(22)(e) of the act as deemed dividend. before the a.o the assessee did not submit that the above transaction is a business transaction and, therefore, the ld. a.o ..... the above ita2172019 page 5 of 6 company to avoid contravention of the provision of section 2(22)(e) of the act. assessee also failed to give the adequate evidence and cogent, reliable, and credible evidences about the transaction. the ld. cit(a) has completely brushed aside finding of the a.o. in remand report and the statement of the assessee and .....

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Mar 05 2019 (SC)

Principal Commissioner of Income Tax(central) 1 Vs. Nra Iron and Steel ...

Court : Supreme Court of India

..... being unrebutted can be used against him by holding that it is a income nature. while receipt of an the considering assessee, cannot, however, act unreasonably the explanation of the department ii. in cit v. p. mohankala9 this court held that: (a) a bare reading of section 68 of the income- tax act, 1961, suggests that (i) there has to be credit of amounts in the ..... -called investor companies established the source of funds from which the high share premium was invested. v. the mere mention of the income tax file number of an investor was not sufficient to discharge the onus under section 68 of the act. 25 13. the lower appellate authorities appear to have ignored the detailed findings of the ao from the field enquiry and ..... account to show that the entire amount had been paid through normal banking channels, and hence discharged the initial onus under section 68 of the act, for establishing the credibility and identity of the shareholders.5. the revenue filed an appeal before the income tax appellate tribunal (hereinafter referred to as itat ). the itat dismissed the appeal, and confirmed the order of the ..... act, 2012) read as follows: in 68. cash credits- where any sum is found credited the book of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the assessing officer, satisfactory, the sum so credited may be charged to income-tax .....

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Mar 05 2019 (SC)

c.i.t Bombay Vs. Tasgaon Taluka s.s.k.ltd.

Court : Supreme Court of India

..... adjustment of rs.2,02,242-/ relatable to section 40a (3) of the act. thereafter the assessee filed a revised return wherein business loss was shown to the tune of ..... of income for the assessment year 1998-99 declaring nil; income. in the return, the assessee computed carry forward loss of rs.40,00,339/- and unabsorbed depreciation of rs.1,67,26,665/-. the return was processed under section 143(1) (a) of the income tax act, (hereinafter referred to as the act ), making ..... the appeal preferred by the department by observing that the question is covered by the judgment of the high court in the case of commissioner of income tax vs. manjara shetkari sahakari sakhar karkhana limited, reported in (2008) 301 i.t.r. 191 (bom.). hence, the present appeals by the ..... are being disposed of together, by this common judgment and order.3. for the sake of convenience, civil appeal no.8890 of 2012 (commissioner of income tax, bombay vs. tasgaon taluka sahakari sikhar karkhana limited) is treated and considered as a lead case, and therefore, the facts from the said appeal are ..... its members/non-members above the smp price/price determined under clauses 3 & 5a of the control order, 1966, as income.5. on an appeal, the learned commissioner of income tax (appeals), relying upon and considering the decision of a special bench, mumbai itat in the case of manjara shetkari sakhar .....

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Mar 05 2019 (SC)

Kakadia Builders Pvt Ltd Vs. Income Tax Officer Ward 1(3)

Court : Supreme Court of India

..... 19.01.1994, a search and seizure operation was carried out in the premises of the appellants (assessee) under the income tax act, 1961 (hereinafter referred to as the act ).6. during pendency of the assessment proceedings, which were initiated for determination of the tax liability as a result of search and seizure operation, the appellants on 12.03.1996 and 03.09.1996 filed ..... application under section 154 of the act before the settlement commission on 26.07.2002.9. by order dated 11.10.2002, the settlement commission dismissed the ..... certain additions and waived interest chargeable under sections 234a, 234 b and 234c of the act.8. the appellants (assessee) felt aggrieved and filed rectification applications before the settlement commission on 29.12.2000 for amending its order dated 11.08.2000. the revenue (commissioner of income tax) also felt aggrieved by the order dated 11.08.2000 and filed a rectification ..... rendered 6 on 21.10.2010 in brij lal & ors. vs. commissioner of income tax, jalandhar, (2011) 1 scc1 17. so far as the decision rendered in ghaswala (supra) is concerned, the question involved therein was whether the settlement commission constituted under section 245b of the act has the jurisdiction to reduce or waive the interest chargeable under sections 234a, 234b and .....

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Mar 01 2019 (SC)

M/S. Vijay Industries Vs. Commissioner of Income Tax

Court : Supreme Court of India

..... is a judgment of this court which affirmed the judgment of the delhi high court concerning the interpretation of the very same section 80-hh of the income tax act. the assessment years also happened to be the same assessment years as involved in these appeals.3. the question of law set out by this court ..... facts and in the circumstances of the case, the appellate tribunal was right in law in holding that the deduction under section 80-p of the income tax act should be allowed before set-off of unabsorbed losses of earlier year?. xx xx xx 5. reference may be made at this stage to the ..... contrary to the legislative intent and with a view to setting at naught such interpretation. parliament, by section 12 of finance (no.2) act, 1980, introduced in the income tax act, 1961, section 80-aa with retrospective effect from april 1, 1968, that is, the date when section 80-m was originally enacted, ..... 2) in all these appeals issue relates to the interpretation that is to be accorded to the provisions of section 80hh of the income tax act, 1961 (hereinafter referred to as the act ). section 80hh and other related provisions, as it existed at the relevant time, are to be taken note of. since we ..... that the language of section 80-hh and section 80-m is the same is, with respect, prima facie, incorrect. conceptually, any income and profits and gains are different under the income tax act. civil appeal nos. 1581-1582 of 2005 a/w. connected matters page 17 of 22 (see section 80-m read with sections .....

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Feb 27 2019 (SC)

Commissioner of Income Tax Vs. M/S Rashtradoot (Huf)

Court : Supreme Court of India

..... the respondent's appeal, which gave rise to filing of the appeal by the revenue before the high court under section 260a of the income tax act, 1961 (hereinafter referred to as the act ).6. the high court by impugned judgment dismissed the revenue's appeal, which gave rise to filing of this appeal by way of special ..... appeal, set aside the impugned order and remand the case to the high court with a request to decide the appeal filed by the revenue (commissioner of income tax) afresh on merits in accordance with law.21. before parting, we may observe that we have not expressed any opinion on the merits of the case 9 ..... 24.05.2001 passed by the income tax appellate tribunal (itat), jaipur bench, jaipur in i.t.s.s.a. no.29/jp/2000.3. a few facts need mention infra for the disposal ..... the final judgment and order dated 25.10.2016 passed by the high court of judicature for rajasthan, bench at jaipur in d.b. income tax appeal no.43 of 2002 whereby the division bench of the high court dismissed the 1 1 appeal filed by the appellant herein and affirmed the order dated ..... in the supreme court of india civil appellate jurisdiction civil appeal no.2362 of2019(arising out of s.l.p.(c) no.20075 of 2017) commissioner of income tax i .appellant(s) versus m/s rashtradoot (huf) .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. this appeal is filed against .....

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Feb 27 2019 (HC)

Ajit Gogna vs.jitender Gogna & Ors

Court : Delhi

..... inquiry into mesne profits save sandeep infra but find (i) kathiroor service cooperative bank ltd. vs. commissioner of income tax (cib) (2014) 14 scc352 after considering the definition of inquiry? in various dictionaries and encyclopedia, in relation to section 133(6) of the income tax act, 1961 holding that the inquiry therein pertained in relation to such points or matters which the assessing authority issuing ..... necessarily mean examination of witnesses; (iii) state of bombay vs. shivabalak gaurishankar dube air1965sc61 in the context of section 65 read with section 83 of the bombay tenancy & agricultural lands act, 1948, holding that since the manner of conducting inquiry had not been prescribed, the manner of inquiry was left to the discretion of the authority vested therewith; (iv) sandeep vs ..... constitutional protection under article 20 of the constitution of india; that the civil court, although may not have any specific provisions in the code of civil procedure and the evidence act, has an inherent power in terms of section 151 cpc to pass all orders for doing complete justice to the parties.31. civil law does not confer on a ..... october, 2018 supra of the division bench, it transpires that it was the contention of the defendant no.1 before the division bench that section 237 of the indian succession act, 1925 permits the defendant no.1 to, in the absence of primary evidence, produce secondary evidence. the defendant no.1, in this review petition, for the first time before .....

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Feb 26 2019 (HC)

Ashok Jaipuria vs.tejinder Kumar Acit Central Circle 19 Income Tax Dep ...

Court : Delhi

..... .....respondent through: mr. deepak anand and mr. zoheb coram: hon'ble mr. justice sunil gaur hussain, advocates order (oral) in a complaint under sections 276-c(1) & 277 of the income tax act for the assessment year 2002-03, respondent had filed an application for getting the present assessing officer examined as an additional witness and another application for filing additional documents. both ..... .c. 2859/2017 page 1 of 4 to obtain authorities the particulars of such undisclosed foreign bank accounts. it takes time. the complainant i.e. income tax department is having various wings and sections. the wing of income tax department which has filed the present case, if was having the documents in question at the time of filing of the present complaint then it .....

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Feb 25 2019 (HC)

Pr Commissioner of Income Tax-6 New Delhi vs.n.r. Portfolio Pvt. Ltd.

Court : Delhi

..... ) disallowed certain amounts, under section 68. the ao rejected the assessee s contentions with respect to the validity of the reassessment notice, under sectionof the income tax act (hereafter the act ). the assessee appealed; the commissioner of appeals [cit(a)]. allowed the assessee s contentions and deleted the amounts added back (by the ao); however, the appellate commissioner rejected the assessee s arguments regarding validity ..... shanmugavel nadar v state of tamil nadu 2003 (263) itr658 analysis and conclusions 12. before considering the rival contentions, it would be useful to consider the relevant provisions of the income tax act, dealing with the powers of rectification. the power of rectification conferred upon the w.p.(c)no.10846/2016 page 6 of 16 assessing officer and ?any ..... , which is as follows: ?154. rectification of mistake. [(1) with a view to rectifying any mistake apparent from the record an income-tax authority referred to in section 116 may, (a) amend any order passed by it under the provisions of this act; (b) amend any intimation or deemed intimation under sub- section (1) of section 143; (c) amend any intimation under sub ..... up to the tribunal. the tribunal quashed the order of the ao for financial years 1995-96 to 1997- 98 after grossing up income under section 195a of the act and directed the ao to re-compute the tax liability for the said financial years. an order giving effect to the tribunal s direction was passed on 22.03.2004 in respect of .....

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