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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 6 of about 263,910 results (0.455 seconds)

Mar 06 2018 (SC)

Andanur Kalamma Vs. Gangamma (Dead) by Lrs.

Court : Supreme Court of India

..... and the other respondents are his sons and daughter.4. the father of late sri andanur umapathiyappa (late andanur kotrappa) was a defaulter under the provisions of the income tax act to the extent of rs.2,600/-. for recovery of arrears of tax, the income tax department had referred the matter to the deputy commissioner, chitradurga, under section 158 of the karnataka land revenue ..... act, 1964 (for short, the act ). the land belonging to late sri andanur umapathiyappa bearing sy. no.63 of bisaleri village, davanagere taluk, measuring an extent of 23 acres and ..... 15 guntas, was brought to sale for the recovery of tax dues. the ..... appears to have arisen in the year 1966 when the predecessor in interest of the respondents one andanur umapathiyappa lost 26 acres of land for having defaulted in payment of income tax arrears for recovery of which sum, lands were sold by public auction and purchased by the contesting respondent who was also placed in possession immediately.2. it is common .....

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Feb 23 2018 (SC)

Indiabulls Housing Finance Ltd. Vs. M/S Deccan Chronicle Holdings Ltd

Court : Supreme Court of India

..... be recovered in various ways. the remedies mentioned therein are complementary to each other. the drt act provides for adjudication. it provides for adjudication of disputes as far as the debt due is concerned ..... under: 18. on analysing the above provisions of the drt act, we find that the said act is a complete code by itself as far as recovery of debt is concerned. it provides for various modes of recovery. it incorporates even the provisions of the second and third schedules to the income tax act, 1961. therefore, the debt due under the recovery certificate can ..... whereunder the predecessor company, ibfsl got amalgamated with the appellant, the effect of such a merger is explained by this court in saraswati industrial syndicate ltd. v. commissioner of income tax10 in the following manner:10. 1990(supp) scc675civil appeal no.18 of 2018 page 33 of 42 5. generally, where only one company is involved in change and ..... v. gwynne, retrospective operation is one matter and interference with existing rights is another. in that context, it was ruled that the provisions of the conveyancing of law and property act, 1892 were held applicable to leases containing a covenant, condition or agreement against assigning, under- letting or parting with possession or disposing of land or property leased without license .....

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Feb 16 2018 (SC)

Kalawati (D) thr.lrs. Vs. Rakesh Kumar .

Court : Supreme Court of India

..... (c) no.28275 of 2014) page 10 the vendors that the agreement to sell was ante-dated after the introduction of section 260-uc in the income tax act, 1961. however, we need not go into this possibility in view of the vague nature of the clause.25. on an overall consideration of the facts ..... disputed land. he was in possession of only one truck and was earning rs.10,000/- per month. he was not assessed to income tax and he filed his income tax return for the first time in 1994. earlier in 1988-89, he had opened a bank account but never had a balance of ..... is there any indication of the purpose for which the no objection certificate was required. similarly, there is no indication about the nature of the income tax clearance certificate required and for what purpose. this clause appears to have been inserted in the agreement to sell without any application of mind and it ..... follows: that the vendors will obtain the no objection certificate from the authorities concerned and will inform the vendee by registered post after getting the income tax clearance certificate. 24. there is nothing to indicate the nature of the no objection certificate that the vendors were required to obtain and who were ..... , the material on record clearly indicates that rakesh kumar did not have the necessary funds available with him to pay the balance consideration. his low income and low bank balance indicated his incapacity to make the balance payment. as far as his capacity to arrange for funds is concerned, it has .....

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Feb 16 2018 (SC)

Industrial Infrastructure Development Corporation (Gwalior) m.p. Ltd. ...

Court : Supreme Court of India

..... to as the act ).4. on 10.02.1999, the appellant filed an application in the format prescribed under section 12-a of the act to the commissioner of income tax (hereinafter referred to as the cit ) for grant of registration. according to the appellant, since they 2 ..... registered under the companies act. it is a state government undertaking which is established with a view to develop and assist the state in the development of industrial growth centers/areas, to promote, encourage and assist the establishment growth and development of industries in the state of m.p. the appellant is an "assesse" under the income tax act, 1961 (hereinafter referred ..... were engaged in public utility activity which, according to them, was for a charitable purpose under section 2(15) of the act, they were entitled to claim registration as provided ..... under section 12 (a) of the act. since the application for .....

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Feb 12 2018 (SC)

Maxopp Investment Ltd.. Vs. commr.of i.t New Delhi

Court : Supreme Court of India

..... in the facts and circumstances of the case, the hon ble itat is right in law in deleting the addition made on account of disallowance under section 14a of the income tax act, 1961?. 2.19) in its analysis, the high court accepted the contention of the counsel for the assessee that the assessee is engaged in the purchase and sale of shares ..... was divisible. it is to find a cure to the aforesaid problem that the legislature has not only inserted section 14a by the finance (amendment) act, 2001 but also made it retrospective, i.e., 1962 when the income tax act itself came into force. the aforesaid intent was expressed loudly and clearly in the memorandum explaining the provisions of the finance bill, 2001. we ..... section 14a so as to clarify the intention of the legislature since the inception of the income-tax act, 1961, that no deduction shall be made in respect of any expenditure incurred by the assessee in relation to income which does not form part of the total income under the income-tax act. the proposed amendment take effect retrospectively from april 1, 1962 and will accordingly, apply in ..... of investment in shares of operating companies for acquiring and retaining a controlling interest therein is hit by section 14a of the income tax act, 1961 inasmuch as the dividend received on such shares does not form part of the total income?. on facts, it was noted that the assessee company is in the15) business of finance, investment and was dealing in shares and .....

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Feb 08 2018 (SC)

Indore Development Authority Vs. Shailendra (Dead) Through Its Lrs. An ...

Court : Supreme Court of India

..... paid has also been considered by this court in the benares state bank ltd. v. the commissioner of income tax, lucknow, (1969) 2 scc316 in the context of section 14(2)(c) of income tax act, 1922. this court observed that the expression "paid" in section 16(2) does not contemplate actual receipt ..... state of u.p. (1992) 2 scc620 relying upon earlier decision in grindlays bank ltd. v. income tax officer, calcutta (1980) 2 scc191 held that no one can suffer from the act of the court and in case an interim order has been passed and petitioner takes advantage thereof and ultimately ..... the industrial tribunal, delhi & anr. (supra), indian oxygen ltd. v. narayan bhoumik (supra) and the benares state bank ltd. v. the commissioner of income tax, lucknow, (supra) and other decisions were not placed for consideration. 192 8. the binding decisions of the court as to the consequence of non-deposit ..... of restitution. the relevant paragraphs of that judgment dealing with relevant judgments are reproduced hereunder:170. this court in grindlays bank limited v. income tax officer, calcutta (1980) 2 scc191observed as under: when passing such orders the high court draws on its inherent power to make all such ..... amount of dividend unconditionally available to the member entitled thereto. the court has observed: 5. ..this court observed in j.dalmia v. commissioner of income-tax, delhi 53 itr83that the expression "paid" in section 16(2) does not contemplate actual receipt of the dividend by the member : in general .....

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Jan 31 2018 (SC)

Commissioner of Income Tax 5 Mumbai Vs. M/S. Essar Teleholdings Ltd. T ...

Court : Supreme Court of India

..... those to be clarificatory or retrospective depicting clear intention of the legislature. it can be seen from the same notes that a few other amendments in the income tax act were made by the same finance act specifically amendments retrospective. for example, clause 40 seeks to amend section 92 f. clause (iii a) of section 92 f is amended so as to clarify that ..... basis. relevant statutory provisions 14. rule 8d has been framed to give effect to the provisions 9 of section 14a sub section (2) and (3) of the income tax act, 1961 (hereinafter referred to as the act ). the statutory scheme as delineated by section 14a has to be understood before correctly appreciating the nature and purport of rule 8d. section 14a was first inserted ..... reproduce hereunder the following observations made by this court in govind das v. ito, while holding section 171(6) of the income tax act to be prospective and inapplicable for any assessment year prior to 1 4 1962, the date on which the income tax act came into force: (scc p. 914, para 11) 11. now it is a well settled rule of interpretation hallowed by ..... 14a so as to clarify the 10 intention of the legislature since the inception of the income tax act, 1961, that no deduction shall be made in respect of any expenditure incurred by the assessee in relation to income which does not form part of the total income under the income tax act. the proposed amendment will take effect retrospectively from 1st april, 1962 and will accordingly, apply .....

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Jan 18 2018 (SC)

National Travel Services Vs. Commissioner of Income Tax Delhi Viii .

Court : Supreme Court of India

..... and in which he has a substantial interest, which is defined as being an interest of 20% or more of the share of the profits of the firm. 3 the income tax act, 1922 contained the definition of5) dividend which reads as follows:- 2. (6a) `dividend' includes- (e) any payment by a company, not being a company, in which the public are substantially ..... ) no.27245 of2017judgment r.f. nariman, j.1)2) leave granted. the present appeals raise an interesting question as to the correct interpretation of section 2(22)(e) of the income tax act, 1961, as amended in 1988.3) the brief facts in order to decide the present controversy are as follows: the assessee is a partnership firm consisting of three partners, namely ..... follows:- section 2. definition in this act, unless the context otherwise requires,- (22) dividend includes- (e) any payment by a company, not being a ..... clearly to hold that before section 2(6a) (e) of the 1922 act can be attracted, the shareholder referred to in the said provision must be a shareholder whose name is on the register of members of the company. when the income tax act, 1961 came into force and repealed the 1922 act, the definition of dividend contained in section 2(22)(e) was as .....

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Dec 18 2017 (HC)

Tarun Roy Vs. The State of Jharkhand Through the Superintendent of Pol ...

Court : Jharkhand

..... consultant pvt. ltd., and (iv) m/s. zoom infrabuild pvt. ltd., were drastically reduced. the said orders were passed in terms of the provisions laid down in the income tax act. the central bureau of investigation has made out a case that these orders were passed without considering the relevant legal provisions and contentions raised by the department. thus, i find ..... 4 of the companies mentioned in the first information report, is of the view that there are probabilities that similar type of benefits may have been provided by the income tax officers to other companies, as such they are investigating that aspect also. he submits that pursuant to the last order passed by this court, central bureau of investigation ..... , has set aside the original assessment orders. he submits that after setting aside the assessment orders, the matters were remanded for fresh decision and the petitioner being the income tax officer, took into consideration the observations and directions 3 made in the orders passed by tapas kumar dutta and thereafter passed the reassessment orders. he submits that there is ..... with section 13(1)(d) and 15 of the prevention of corruption act, 1988.2. the allegations in the first information report is that one tapas kumar dutta, principal commissioner of income tax, ranchi entered into a criminal conspiracy with other income tax officers and other persons and thereafter transferred the income tax files of several assesses from kolkata to ranchi and hazaribagh. further, as .....

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Dec 18 2017 (HC)

Vinod Kumar Pal Vs. The State of Jharkhand Through Cbi

Court : Jharkhand

..... of the companies, i.e., m/s. rajrath merchants pvt. ltd. was drastically reduced. the said order was passed in terms of the provisions laid down in the income tax act. the central bureau of investigation has made out a case that this order was passed without considering the relevant legal provisions and contentions raised by the department. thus, i find ..... position, has set aside the original assessment order. he submits that after setting aside the assessment order, the matter was remanded for fresh decision and the petitioner being the income tax officer, took into consideration the observations and direction made in the order passed by tapas kumar dutta and thereafter passed the reassessment order. he submits that there is no ..... accused persons including this petitioner.4. after completion of investigation, chargesheet has been filed in this case, which has been brought on record. 2 5. this petitioner is an income tax officer. the allegation against this petitioner is that in respect of one company, in the name and style of m/s. rajrath merchants pvt. ltd., this petitioner issued notice ..... read with section 13(1)(d) and 15 of the prevention of corruption act.2. the allegations in the first information report is that one tapas kumar dutta, principal commissioner of income tax, ranchi entered into a criminal conspiracy with other income tax officers and other persons and thereafter transferred the income tax files of several assesses from kolkata to ranchi and hazaribagh. further, as a .....

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