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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 15 of about 270,337 results (0.430 seconds)

Mar 20 2019 (HC)

Commissioner of Income Tax vs.gopal Das Estates & Housing pvt.ltd.

Court : Delhi

..... coram: justice s. muralidhar justice sanjeev narula ita2102003 & connected matters page 4 of 36 dr. s. muralidhar, j.: judgment1 these are 11 appeals under section 260-a of the income tax act, 1961 ( act?) of which 1 is by the assessee and 10 are by the revenue. apart from the facts being similar, the questions of law too are common to many of the ..... their jewellery with the bank which was stolen by dacoits. the question was whether such payments could be allowed as business expenditure under section 10(2)(xv) of the indian income tax act, 1922?. it was acknowledged that in choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure for ..... .gargisethee, advocates. arta coram: justice s. muralidhar justice sanjeev narula order2003.2019 1. this appeal by the revenue under section 260-a of the income tax act, 1961 ( act ) is directed against the judgment dated 27thjune 2008 of the income tax appellate tribunal (itat) in ita no.4198/del/2006 for the assessment year (ay) 2003-04.2. while admitting this appeal on 22nd july ..... 2009, this court framed the following questions of law for consideration: (1) whether the income tax appellate tribunal was correct in lawin deleting the addition of rs. .....

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Mar 20 2019 (HC)

Commissioner of Income Tax vs.gopal Das Estates & Housing pvt.ltd .

Court : Delhi

..... narula ita2102003 & connected matters page 4 of 36 dr. s. muralidhar, j.: judgment1 these are 11 appeals under section 260-a of the income tax act, 1961 ( act?) of which 1 is by the assessee and 10 are by the revenue. apart from the facts being similar, the questions of law too ..... stolen by dacoits. the question was whether such payments could be allowed as business expenditure under section 10(2)(xv) of the indian income tax act, 1922?. it was acknowledged that in choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill ..... s. muralidhar justice sanjeev narula order2003.2019 1. this appeal by the revenue under section 260-a of the income tax act, 1961 ( act ) is directed against the judgment dated 22nd may 2009 of the income tax appellate tribunal (itat) in ita no.5531/del/2004 for the assessment year (ay) 2001-02.2. ..... estates & housing pvt.ltd ...... respondent through: mr. m.s. syali, senior advocate with mr. arta trana panda and ms. gargi sethee, advocates + ita6112005 commissioner of income tax ..... appellant through: ms. vibhooti malhotra, jr. standing counsel. ita2102003 & connected matters page 1 of 36 versus gopal das estates & housing pvt.ltd ...... respondent through: ..... rental income in their returns. thus on the one hand, there was credit of tds and on the other hand there was debit of tax paid on behalf of the owners.78. the court is of the view that there was no occasion to invoke section 154 of the act, .....

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Mar 20 2019 (HC)

Commisisoner of Income Tax Delhi vs.sunil Lamba

Court : Delhi

..... , 1961 ( act?) is directed against an order dated 7th may, 2003 passed by the income tax appellate tribunal (itat) in the ita no.3006/del/2000 for the assessment year (ay) 1995-96. questions of law 2. while admitting this ..... taxable were not retrospective and did not apply in the ay in question. proceedings under section 263 12. a notice under section 263 of the act dated 13th march, 2000 was issued by the commissioner of income tax (cit) asking the assessee to explain why the order of the ao be not modified or enhanced as it was erroneous or prejudicial to the interest ..... income tax delhi ita4652003 .... appellant through: mr. ashok manchanda, sr. standing counsel with mr. pankaj sinha, advocate. sunil lamba versus ..... respondent through: mr. ajay vohra, sr. advocate with ms. kavita jha, ms. devika jain & mr. anant mann, advocates. coram: justice s. muralidhar justice sanjeev narula judgment dr. s. muralidhar, j.:1. this appeal by the revenue, under section 260 a of the income tax act ..... ) 332 itr602(sc) to be a capital receipt and not a revenue receipt. even the amendment of section 28 (5) (a) of the finance act, 2002 with effect from 1st april, 2003 bringing such receipts to tax as business income, was held in guffic chem (p) ltd. (supra) to be prospective. till ay200304, it was treated as a capital receipt.24. both receipts .....

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Mar 15 2019 (SC)

Principal Commissioner of Income Tax 8 Vs. M/S Yes Bank Ltd

Court : Supreme Court of India

..... 2008, the question arose as to whether the respondent assessee(bank) was entitled to claim deduction under section 35 d of the income tax act, 1961 (for short, the act ) for the assessment year in question. in other words, the question arose as to whether the respondent bank is an industrial undertaking so ..... department) in the high court under section 260 a of the act.8. by impugned order, the high court dismissed the appeal after hearing both the parties giving rise to filing of ..... 1 3. this appeal involves a short point as would be clear from the facts stated infra.4. the appellant is the union of india (income tax department) and the respondent bank is the assessee.5. in the course of assessment proceedings of the respondent assessee(bank) for the assessment year 2007 ..... court of india civil appellate jurisdiction civil appeal no.3148 of2019(arising out of s.l.p.(c) no.7118 of 2018) the principal commissioner of income tax 8 .appellant(s) versus m/s yes bank ltd. .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. this appeal is ..... act which resulted in passing of an adverse order dated 14.11.2011 by the commissioner.7. this gave rise to filing of the appeal by the respondent before the itat against the order of the commissioner. by order dated 05.12.2014, the itat allowed the appeal which gave rise to filing of the appeal by the revenue (income tax .....

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Mar 13 2019 (HC)

Vinod Kumar Pandey and Anr. Vs.sheesh Ram Saini & Anr

Court : Delhi

..... refer to the judgment of the supreme court in s.a.l. narayan row and anr. vs ishwarlal bhagwandas and anr. [air1965sc1818. in that case, proceedings were initiated under the income tax act, 1922. at the conclusion of proceedings before the high court under article 226, a certificate for fitness was sought under article 131(1)(c) read with article 132(1) of ..... as under: lpa11942006 & 1196/2006 page 5 of 22 chairman, budge budge municipality v. mongru mia, air1953cal 433; sukhendu bikash barua v. hare krishna de & ors., air1953cal 636; dwarkanath v. income tax officer, air1966sc81 prabodh verma & ors. v. state of u.p. & ors., (1984) 4 scc251 umaji keshao meshram & ors. v. radhikabai & anr., 1986 (supp) scc401 manoj kumar v. board of ..... the constitution seeking quashing of such an fir would therefore be criminal proceedings and while dealing with such proceedings, its criminal jurisdiction . in para 54 a constitution bench judgment in cit v. ishwarlal the high court exercises 28. lpa11942006 & 1196/2006 page 17 of 22 bhagwandas, (1966) 1 scr190was referred to and after going in detail in paras 61 and ..... 23. in the case of ram kishan fauji (supra), a complaint was made to the lokayukta, haryana and ultimately when an fir for offences punishable under the prevention of corruption act was directed to be registered and investigation ordered, a writ petition in question was filed for quashing the recommendation made for registration of the criminal case and the consequential proceedings .....

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Mar 13 2019 (HC)

Vinod Kumar Pandey vs.vijay Aggarwal & Anr

Court : Delhi

..... refer to the judgment of the supreme court in s.a.l. narayan row and anr. vs ishwarlal bhagwandas and anr. [air1965sc1818. in that case, proceedings were initiated under the income tax act, 1922. at the conclusion of proceedings before the high court under article 226, a certificate for fitness was sought under article 131(1)(c) read with article 132(1) of ..... as under: lpa11942006 & 1196/2006 page 5 of 22 chairman, budge budge municipality v. mongru mia, air1953cal 433; sukhendu bikash barua v. hare krishna de & ors., air1953cal 636; dwarkanath v. income tax officer, air1966sc81 prabodh verma & ors. v. state of u.p. & ors., (1984) 4 scc251 umaji keshao meshram & ors. v. radhikabai & anr., 1986 (supp) scc401 manoj kumar v. board of ..... the constitution seeking quashing of such an fir would therefore be criminal proceedings and while dealing with such proceedings, its criminal jurisdiction . in para 54 a constitution bench judgment in cit v. ishwarlal the high court exercises 28. lpa11942006 & 1196/2006 page 17 of 22 bhagwandas, (1966) 1 scr190was referred to and after going in detail in paras 61 and ..... 23. in the case of ram kishan fauji (supra), a complaint was made to the lokayukta, haryana and ultimately when an fir for offences punishable under the prevention of corruption act was directed to be registered and investigation ordered, a writ petition in question was filed for quashing the recommendation made for registration of the criminal case and the consequential proceedings .....

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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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