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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 6 of about 270,305 results (0.438 seconds)

Aug 20 2019 (HC)

Vedanta Ltd. (Successor of Sterlite Industries (India) Limited) vs.ass ...

Court : Delhi

..... involved in the two writ petitions before the madras high court relates to (i) jurisdiction of the assessing officer, who had passed the order under section 143 (3) of the income tax act, 1961 and (ii) whether the order passed under section 201/201(a) was passed within the limitation period. the submission is that this is a case of change of opinion ..... - 26 (1), new delhi (hereafter, the assessing officer) (ao) seeking to reopen the assessment of the... petitioner for assessment year (ay) 2010-2011 under section 147 of the income tax act, 1961 (the act).2. the background facts as stated in the petition are that the erstwhile sterlite industries (india) ltd., which stands amalgamated with sesa sterlite ltd., and now known as vedanta ltd ..... and truly all material facts necessary for its assessments for the ay2011011. therefore, i have reason to believe that income chargeable to tax amounting to rs.22,91,15,590/- has escaped the assessment, within meaning of provision of section 147 of the income tax act, 1961. accordingly, assessment for a.y. 2010-11 is proposed to be reopened by issuing notice u/s 148 ..... of the i.t. act, 1961. asst. commissioner of income tax circle-1(1), panaji 14. the... petitioner by letter dated 4th december, 2017, raised objections to .....

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Aug 20 2019 (SC)

Shakeena . Vs. Bank of India and Ors.

Court : Supreme Court of India

..... 2006. for this, reliance has been placed on the dictum in b. arvind kumar (supra). additionally, reliance is placed upon the provisions of rule 65 of schedule ii of income tax act, 1961 as applicable at the relevant time. lastly, it is contended that the appellants have failed to avail alternative efficacious remedy against the order dated 10th january, 2006 passed by ..... be granted to the appellants, assuming that the appellants are right in contending that as per the applicable provision at the relevant time (unamended section 13(8) of the 2002 act), they could have exercised their right of redemption until the registration of the sale certificate which, indisputably, has already happened on 18th september, 2007. therefore, it is not ..... of the high court allowed the appeals filed by respondent no.3 and dismissed the writ petitions filed by the appellants.17. the appellants would contend that as per 2002 act and rules framed thereunder, the right of the mortgagor to redeem the mortgage gets extinguished only upon registration of the sale certificate, resulting in transfer of the auctioned property ..... for setting aside of notice issued by the respondent bank in exercise of powers under the securitisation and reconstruction of 2 financial assets and enforcement of security interest act, 2002 (for short, 2002 act ) dated 14th november, 2005 and the consequent public notice dated 15th november, 2005 for sale of the subject property, the public auction conducted in furtherance thereof .....

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Aug 19 2019 (HC)

Rohit Kumar Gupta vs.principal Commissioner of Income Tax Central -Ii ...

Court : Delhi

..... , of the view that the application filed by the applicant sh. rohit kumar gupta does not fulfil the conditions prescribed under section 245c (1) read with 245d (4) of the income tax act, 1961 and is hereby rejected.? in the case of prg consultants pvt. ltd. again the order in para 11 clearly states that the said application is also rejected under 245c ..... concerning the interpretation of sections 153, 153 b, 245 d and 245 ha of the income tax act, 1961 ( act?).2. the challenge in both these petitions is to the order dated 4th august, 2016 passed by the income tax settlement commission ( itsc?) under section 245 d (4) of the income tax act, 1961 (act) as well as to the notices dated 6th april, 2017 in respect of assessment proceedings ..... under section 143(3) read with section 153a of the act for the assessment years (ays) 2009- 2010, 2010-2011 and 2011-2012 ..... issued by the assistant commissioner of income tax, central circle-13, new delhi (respondent no.2 .....

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Aug 19 2019 (HC)

Prg Consultants Private Limited vs.principal Commissioner of Income T ...

Court : Delhi

..... , of the view that the application filed by the applicant sh. rohit kumar gupta does not fulfil the conditions prescribed under section 245c (1) read with 245d (4) of the income tax act, 1961 and is hereby rejected.? in the case of prg consultants pvt. ltd. again the order in para 11 clearly states that the said application is also rejected under 245c ..... concerning the interpretation of sections 153, 153 b, 245 d and 245 ha of the income tax act, 1961 ( act?).2. the challenge in both these petitions is to the order dated 4th august, 2016 passed by the income tax settlement commission ( itsc?) under section 245 d (4) of the income tax act, 1961 (act) as well as to the notices dated 6th april, 2017 in respect of assessment proceedings ..... under section 143(3) read with section 153a of the act for the assessment years (ays) 2009- 2010, 2010-2011 and 2011-2012 ..... issued by the assistant commissioner of income tax, central circle-13, new delhi (respondent no.2 .....

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Aug 19 2019 (HC)

Genpact India Private Limited vs.deputy Commissioner of Income Tax & A ...

Court : Delhi

..... , j.:1. aggrieved by one portion of the assessment order concerning the alleged liability of the... petitioner (hereafter the assessee?) under sections 115-qa and 115-qb of the income tax act, 1961 ( act?) in the impugned assessment order dated 31st december, 2016 passed by the assessing officer ( ao?) (respondent no.1), the assessee has approached this court with the present petition under ..... ground of the interim relief arguing that an alternative remedy under section 250 is available. it is submitted that though the levy, is a special one, forms part of the income tax act and, therefore, the ao's order is appealable. it is argued on the merits that the restrictive nature of section 77a, which places fetters upon the company, is sought ..... order deals with certain other issues, apart from the issue concerning the demand under section 115 qa of the act. as regards the other issues, the assessee preferred a statutory appeal under section 246-a of the act before the commissioner of income tax (appeals) [ cit (a)?].. the court is informed that the assessee succeeded in the said appeal and against the order of ..... (2016) 70 taxman 274 (sc) and the decision of the gujarat high court in vishwanath engineers v assistant commissioner of income tax (2013) 352 itr549(guj) to urge that the mere existence of an efficacious alternative remedy under the act would not preclude this court from entertaining the present writ petition which according to him involved a short question of interpretation of .....

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Aug 13 2019 (SC)

The Principal Commissioner of Income Tax 4 Mumbai Vs. M/S s.g. Asia H ...

Court : Supreme Court of India

..... .4. instruction no.3/2003 dated 20.05.2003 which weighed with the tribunal and the high court, is as under:- instruction no.3/2003 section92of the income tax act, 1961 transfer pricing computation of income from international transaction having regard to arm s length price under section92 guidelines to transfer pricing officers and assessing officers to operationalise pricing provisions and to have procedural ..... in the determination of arm s length price in identical or substantially identical cases. these instructions are under section 119 of the income-tax act. civil appeal no.6144 of 2019 @ slp(c)no.12126 of 2019 the principal commissioner of income tax-4, mumbai vs. m/s. s.g. asia holding (i) pvt. ltd. 9 register of record to be maintained by transfer pricing ..... was found to be at a lower rate as compared to the prevalent rates in market. the assessing officer, therefore, while computing the assessment under section 143(3) of the income tax act, 1961 ( the act , for short), by his order dated 27.12.2007 made an addition of rs.2,89,82,746/- under section 92 of the ..... , dated april, 2003 in exercise of the power conferred by sub-section (1) and sub-section (2) of section 120 of the income-tax act, 1961, the central board of direct taxes hereby directs that the transfer pricing officers mentioned in column 2 having their headquarters mentioned in column 3 shall exercise such powers and perform such function of transfer pricing officers .....

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Aug 13 2019 (SC)

Commissioner of Income Tax Vs. Laxman Das Khandelwal

Court : Supreme Court of India

..... service of notice on the assessee under section 143(2) within the prescribed period of time is a prerequisite for framing the block assessment under chapter xiv-b of the income tax act, 1961?. 27. the case of the revenue is that the expression so far as may be, apply indicates that it is not expected to follow the provisions of section 142 ..... the undisputed findings arrived at by the commissioner of income tax (appeals), the additions made under section 68 of the income tax act, 1961 should be deleted or set aside?. 4. the high court, disagreeing with the tribunal, held, that the provisions of section 142 and sub- sections ..... ), the issue that arose before the high court was the effect of absence of notice under section 143(2) of the income tax act, 1961 ( the act , for short). the respondent-assessee relied upon the decision of this court in assistant commissioner of income tax and another vs. hotel blue moon2. on the other hand, reliance was placed by the appellant on the provisions of section ..... : (1) whether on the facts and in circumstances of the case the issuance of notice under section 143(3) of the income tax act, 1961 within the prescribed time- limit for the purpose of making the assessment under section 143(3) of the income tax act, 1961 is mandatory?. and (2) whether, on the facts and in the circumstances of the case and in view of .....

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Aug 09 2019 (HC)

The Pr. Commissioner of Income Tax Central-3 vs.m/s. Dreamcity Buildw ...

Court : Delhi

..... . taneja in his statement. therefore, for this reason also, i am satisfied that it is a fit case for initiating proceedings under section 153c of the income tax act, 1961.? 11. the itat correctly noted that two of the above documents referred to, viz., the licence issued to the assessee by the director, town and ..... main controlling person of the taneja group of companies, mr. d.n. taneja in his sworn statement given under section 132(4) of the income tax act, 1961 offered an income of rs.6.23 crore for taxation in respect of entries taken by various taneja group of companies from the concerns of mr. s.k. ..... ltd. in the light of the above, i am satisfied that the above case is a fit case for issuing notice under section 153c of the income tax act, 1961 as the seized documents mentioned above belonging to dreamcity buildwell p. ltd. being a person than a person in whose case the search has been ..... of rs.2.12 crores made by the assessing officer (?ao ) on account of unexplained cash credit under section 68 of the income tax act, 1961 (?act ) adopting ?a restrictive and pedantic interpretation of the scope of assessment under section 143 (3) read with ita11522017 page 1 of 11 section 153c ..... the satisfaction note of the ao for assumption of jurisdiction qua the respondent assessee under section 153c of the act read as under: ?a search and seizure operation under section 132(1) of the income-tax act was carried on 5.01.2009 at various business and residential premises of taneja puri group of cases, .....

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Aug 08 2019 (HC)

Union of India and Ors. Vs.manoj Kumar Gautam

Court : Delhi

..... giving inappropriate directions to the tro. thus, by his aforesaid acts, shri m.k. gautam failed to maintain absolute integrity, devotion to duty and exhibited conduct unbecoming of a government servant ..... the reserve price, as required b rule 18 of the income tax (certificate proceedings) rules, 1962. in connivance with the tro, he issued directions to sell the shares on first come first offer basis? instead of sale by public auction as required by rules 43 and 44 of the second schedule of the income-tax act, 1961. thus, he failed in his supervisory duties by ..... been issued well after the order was passed by the tribunal on 16.11.2017 directing that the respondent be promoted to the post of chief commissioner of income tax, since he had been found fit for promotion by the dpc.10. mr. makhija has submitted that the complaint against the respondent had been received in the year 2011. evidently ..... . the charge memorandum was not issued either before holding of the dpc - when the respondent s case came up for consideration for promotion to the post of chief commissioner of income tax, or even w.p.(c) 8115/2019 page 5 of 6 thereafter till the pendency of the original application preferred by the respondent in september 2017. the charge memorandum has .....

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Aug 07 2019 (HC)

M/S. Nestle Sa vs.assistant Commissioner of Income Tax (Internationa ...

Court : Delhi

..... reason to interfere with the order under challenge. however, we clarify that when a notice w.p.(c) 12643/2018 page 12 of 14 under section 148 of the income tax act is issued, the proper course of action for the noticee is to file return and if he so desires, to seek reasons for issuing notices. the assessing officer is ..... seeking the quashing of a notice dated 26th march, 2018 issued to it by the assistant commissioner of income tax (international taxation), circle-2 (2) (2), new delhi (the respondent) under section 148 of the income tax act, 1961 ( act?) requiring it to file a return of income. the petition also challenges an order dated 23rd october, 2018 passed by the respondent rejecting the... petitioner ..... believe" in support of re-assessment notice, it is pointed out, do not disclose any tangible material other than the income derived by the assessee [exempted income and tax deducted income]..3. prime facie the court is of the opinion that ..... mind. it points out that as a foreign company it derives income of dividend and interest income, both of which have received tax treatment in india appropriately [first as exempt and second subject to tds]., and it was exempted from the obligation to file returns under section 115a of the income tax act and the relevant departmental instructions. in these circumstances, "reasons to .....

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