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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 4 of about 270,442 results (0.512 seconds)

Nov 08 2019 (HC)

Zakir Ali Rana vs.edelweiss Asset Reconstruction Company Limited

Court : Delhi

..... it sought the arrest of the present... petitioner under section 25 (b) of the rdb act read with rules 73, 76 and 77 of the 2nd schedule to the income tax act, 1961 and section 29 of the rdb act. on 22nd november, 2018 the ro-ii passed an order in which inter alia a ..... the court holds that the drat exceeded its jurisdiction in entertaining the miscellaneous application no.458/2019 filed by respondent under section 17a of the rdb act. on that short ground, the impugned order dated 25th october, 2019 of the drat is hereby set aside. this order would mean that miscellaneous ..... the ros is concerned, their orders have been expressly made appealable before the drts and not directly appealable before the drat. section 30 of the rdb act reads as under: 30. appeal against the order of recovery officer.-. (1) notwithstanding anything contained in section 29, any person aggrieved by an order ..... reason that the respondent straight away approached the drat. he submitted that it was difficult to affect any recoveries in the proceedings under the rdb act as they were long drawn. according to him, the conduct of the cds would disentitle them to resist the proceedings before the drat or even ..... of the presiding officer . he accordingly submits that the drat ought not to have entertained the application of the respondent under section 17a of the rdb act. he submitted that in passing the impugned order the drat exceeded its jurisdiction. he referred to the decisions in meena aggarwal v. punjab national bank .....

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Nov 01 2019 (HC)

The Pr. Commissioner of Income Tax -Central -1 vs.virender Kumar Bhati ...

Court : Delhi

..... 13.12.2018 passed by the income tax appellate tribunal (hereinafter referred to as 'the tribunal') in it(ss)a no.6/del/2011 & c.o. no.93 ..... + ita7322019 the pr. commissioner of income tax -central -1 through: mr. ruchir bhatia, sr. standing ..... appellant counsel. versus virender kumar bhatia coram: through: ..... respondent hon'ble mr. justice vipin sanghi hon'ble mr. justice sanjeev narula sanjeev narula, j.(oral):1. the present appeal under section 260a of the income tax act, 1961 (hereinafter referred to as 'the act') is directed against the order dated ..... bhatia, senior standing counsel for the revenue, during the course of arguments, has urged that itat has erred in relying upon the decision of manish maheshwari v. assistant commissioner of income tax [2007]. 159 taxman 258 (sc) and that the assessing officer had, in fact, recorded the satisfaction as required and the findings of the itat are erroneous.10. before ..... nil. on 17.09.2006, a statutory notice under section 143(2) of the act was issued. the assessee filed objections against the said notice, finding merit in the objections, the ao after obtaining approval of additional commissioner of income tax, central range-iii, new delhi, dropped the proceedings vide d&cr no.dated 27.07.2007. concomitantly, on the same .....

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Oct 24 2019 (HC)

M/S Siddharth Export vs.the Assistant Commissioner of Income Tax

Court : Delhi

..... production of the relevant documents, the onus shifted on the respondent and if the assessing officer had any doubt, he could have carried out independent inquiry. section 68 of the income tax act, raises a presumption whenever unexplained credits are found in the books of account of the assessee. indisputably, the credit entries stand in the name of the assessee himself. thus ..... , followed by a show cause notice dated 06.12.2016 seeking explanation as to why the unsecured loan should not be treated as unexplained credit under section 68 of the income tax act. pursuant to the said show cause notice, the appellant submitted a written explanation. the assessing officer made an independent enquiry through emails and telephonic conversation with ito-ward 1 ..... the application stands disposed of. ita9172019 & cm. appls. 46334-46335/2019 3. the present appeal under section 260a of the income tax act, 1961 (hereinafter the act) is directed against the common order dated 26.06.2018 (hereinafter the impugned order) passed by the income tax appellate ita9172019 page 1 of 20 tribunal in appeal (s) no.7700/2017 for ay-2013-14 and 7752/2017 ..... unrebutted can be used against him by holding that it is a receipt of an income nature. while considering the department cannot, however, act unreasonably the explanation of the assessee, ii. in cit v. p. mohankala this court held that: a bare reading of section 68 of the income tax act, 1961, suggests that (i) there has to be credit of amounts in the books .....

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Oct 24 2019 (SC)

Union of India Vs. Association of Unified Telecom Service Providers of ...

Court : Supreme Court of India

..... so as to be comprised in it. and on this point not only the provisions of the excess profits tax act, 1940, the business profits tax act, 1947, the super profits tax act, 1963 and the companies (profits) surtax act, 1964 but also the various provisions of the income tax act, 1961 referred to by us, clearly indicate that the word computed has been used by the legislature in sub ..... or exclude items which may be regarded as forming part of the capital employed . 181. this court has considered the matter given the provisions contained in section 80j of the income tax act and has observed that capital employed has variable meanings. it has been legislatively recognised both inclusion as well as exclusion of the items, which may otherwise be regarded as forming ..... prescribed manner. how the capital employed shall be computed is left to be prescribed by the central board of revenue by making rule or rules under section 295 of the income tax act, 1961. the process of computation would involve both inclusion and exclusion of items, which may possibly be regarded as falling within the expression "capital employed". the central board of ..... from the subscribers. even if they are used for discount etc. in the bills, they form part of revenue. licensees themselves treat non refundable deposits as income under section 80 ia (2a) of the income tax act. be that as it may. the finding recorded by the tdsat concerning non refundable deposits not being part of the revenue based upon wrong 120 concession .....

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Oct 24 2019 (SC)

Sirdar k.b.ramachandra Raj Urs (Dead) Through Lrs. Vs. Sarah C Urs

Court : Supreme Court of India

..... .1,00,000/ was received on the same day. the defendant no.1 agreed to obtain a clearance certificate under section 230 a of the income tax act as also under the provisions of the urban land ceiling act. the plaintiffs continued to have the possession of suit property in part performance of the agreement dated 24.04.1979 and stopped paying rent.4 ..... accepted. the high court has also referred to the order passed by the income tax appellate tribunal wherein the claim of 2nd plaintiff for exemption of rs.50,000 under the income tax act, paid to 1st defendant towards the remaining sale consideration was allowed in terms of section 54(f) of income tax act. 6 11. the high court has further found that the defendant has taken ..... an inconsistent and contrary stand. the defendant was visiting 2nd plaintiff all along insisting on obtaining income tax clearance certificate, which was postponed by the defendant no.1 on one pretext or the ..... . the defendant no.1 always ensured the plaintiffs to execute the registered sale deed in terms of suit agreement after obtaining a clearance certificate from the income tax department and under the 3 urban land ceiling act. on 1.6.1993, defendant no.1 received the balance sale consideration of rs.50,000/ from 2nd plaintiff and executed a stamped receipt in favour .....

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Oct 23 2019 (HC)

d.k. Shivakumar vs.directorate of Enforcement

Court : Delhi

..... .08.2019 in the said 4th complaint case pending before the special court, bengaluru.33. it is also not in dispute that the offences under section 276c, 277 of the income tax act alleged against the petitioner are compoundable offences and the only scheduled offence invoked against the petitioner is section 120 b ipc. bail appln. 2484/2019 page 16 of 19 34 ..... bail application of the present... petitioner.9. dr. abhishek manu singhvi, learned sr. advocate appearing on behalf of the petitioner submitted, the offences under section 276c(1), 277 of the income tax act and section 193, 199 r.w.s. 120b ipc that have been alleged against the... petitioner do not constitute a predicate offence as per the schedule given in the pml ..... before the special court, bengaluru, u/s 200 cr.p.c. alleging offences under the income tax act. pursuant thereto, the income tax bail appln. 2484/2019 page 2 of 19 department proceeded to grant sanction to prosecute for offences punishable u/s 276c(1) and 277 of the income tax act and section 120b of i.p.c and filed a 4th complaint against the... petitioner under ..... tampering of evidence or influencing the witnesses.15. moreover, the offences punishable under section 276c (1)and section 277 of the income tax act, 1961 are compoundable offences u/s 279(2) of bail appln. 2484/2019 page 8 of 19 the act which shows that the offences are not serious in nature. the delhi high court in the case of sitaram aggarwal vs .....

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Oct 18 2019 (SC)

Principal Commissioner of Income Tax. 6 Vs. M/S I Ven Interactive Ltd.

Court : Supreme Court of India

..... return of income without specifically intimating the assessing officer with respect to change of address and without getting the pan database changed, is ..... accompanied with balance sheet and profit and loss account. the return was processed under section 143(1) of the income tax act, 1961 (hereinafter referred to as the 1961 act ). that a notice under section 143(2) of the 1961 act was issued to the respondent assessee on 05.10.2007. the notice was sent at the assessee s address available as per the pan ..... while concurring with the view of the learned tribunal that 11 merely by filing of return of income with the new address, it shall be enough for the assessee to discharge its legal responsibility for observing proper procedural steps as per the companies act and the income tax act is concerned, we are of the opinion that mere mentioning of the new address in the ..... officer vide assessment order dated 24.12.2008 completed the assessment under section 143(3) of the 1961 act by making disallowance of rs. 8,91,17,643/ under section 14a of the 1961 act, read with rule 8 of the income tax rules and computed total income at rs.5,52,45,930/ . 3.2 being aggrieved by the assessment order dated 24.12 .....

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Oct 17 2019 (SC)

Central Bureau of Investigation Vs. Arvind Khanna

Court : Supreme Court of India

..... of the petitioner. { 61. it is pertinent to mention that the income tax authorities vide order dated 11.12.2010 passed by the commissioner of income tax (appeals) in proceedings under section 147 of the income tax act, 1961, that similar income received by the petitioner from the same ci law trust (formerly known ..... standing to the credit of respondent s father, mr. vipin khanna. it was also pleaded that income tax authorities, vide order dated 11.12.2010, in proceedings under section 147 of the income tax act, 1961, accepted the said receipts as gift, and the same is confirmed by order dated 15. ..... 04.2014, passed by the income tax appellate tribunal in ita nos. 1915 to 1917/del of 2010.12. the ..... as west way) had been treated as a gift from the father of the petitioner. the above order stands confirmed by order dated 15.04.2014 passed by the income tax ..... dated 05.07.2011, the additional chief metropolitan magistrate took cognizance of the offence under section 35 read with section 3 of foreign contribution (regulation) act, 2010 (for short fcra, 2010 ) and issued summons to the respondent-petitioner. vide crl. m.c. no.3342 of 2011, the respondent- .....

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Oct 14 2019 (HC)

Maple Logistics Private Limited &Anr vs.principal Chief Commissioner o ...

Court : Delhi

..... in fine print on the intimation reads as under:-" the refund determined u/s 143(1) in this intimation has been withheld as per the provisions of section 241a of income tax act, 1961. the refund, if any,will be released on completion of assessment u/s 143(3)/144 as the case may be, along with interest u/s 244a andsubjectto adjustment ..... are that... petitioner company is engaged in the business of providing multimodal logistics services including transportation through road, rail etc., for its customers. in terms of section 194c of the income tax act, the customers of the... petitioner are obligated to deduct tds at the rate of 2% from the transport charges paid or payable to the... petitioner company.... petitioner claims that in ..... check on what would otherwise have been the sole discretion of the assessing authority. the provisions of section 33c are in parimateria borrowed from section 241 of the income tax act 1961 (omitted by the finance act 2001, w.e.f. 1.1.2001). another legislative intendment of the prescription (that the order must be preceded by the approval of higher authority), appears to ..... , whereby certain directions were issued to the respondent to pass a detailed w.p.(c) 7003/2019 page 1 of 21 reasoned order under section 241a of the income tax act (hereinafter referred to as the act?). the said order reads as follows: we have heard learned counsels at length. learned counsel for the respondents has produced, before us, the relevant file which contains .....

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Oct 14 2019 (HC)

Devendra Kumar Singh vs.assistant Commissioner of Income Tax ,Circle 6 ...

Court : Delhi

..... of stay of all reassessment proceedings pursuant to the issuance of notice under section 148 and also the notice dated 27.09.2019 issued under section 143 (2) of the income tax act till the disposal of the writ petition. w.p. (c) 13439/2018 page 1 of 15 2. in order to appreciate the contentions raised in the present application, it would ..... 10.01.2003 and the same had been rejected by the settlement commission by passing an order under section 245 d(1) of the said act on 25.05.2004 which was received by the commissioner of income-tax on 03.06.2004. consequently, she placed reliance on clause (iv) of explanation 1 to section 158be to submit that the period between 10 ..... delhi high court, there was no stay of the assessment proceedings and, therefore, explanation 1 to section 153 of the said act could not be invoked and that after the expiry of the period prescribed under section 153, the income-tax officer was not competent to issue the notice in the assessment proceedings against the assessees. the view taken by a learned single ..... 158bc. he also referred to the recent decision of the supreme court in the case of assistant commissioner of income-tax and anr. v. hotel blue moon:321. itr362(sc) which held that the notice under section 143(2) of the said act was a mandatory requirement in case the assessing officer disagreed with the return filed by the assessee pursuant to the .....

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