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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 7 of about 267,813 results (0.587 seconds)

Aug 20 2018 (SC)

Commissioner of Income Tax Vs. M/S Classic Binding Industries

Court : Supreme Court of India

..... of 2018 judgment a.k.sikri, j.a neat question of law which arises in these appeals revolve around section 80-ic of the income tax act, 1961 (hereinafter referred to as the act ). the high court by its impugned judgment dated 28th november, 2017 has discussed various aspects and nuances of the aforesaid provisions which had ..... had carried substantial expansion in its unit.21. we are conscious of our recent judgment rendered by this very bench in mahabir industries v. principal commissioner of income tax (civil appeal nos. 4765-4766 of 2018 decided on may 18, 2018). however, a fine distinction needs to be noted between the two sets of cases ..... assessee firm on 28th september, 2012. the case was selected from scrutiny through cas and accordingly, statutory notices under section 143(2)/142(1) were issued by income tax office (ito) ward-i, solan. civil appeal no.7208 of2018& ors. page 7 of 17 7. the assessee was asked to furnish the reasons and ..... reportable in the supreme court of india civil appellate jurisdiction civil appeal no(s). 7208 of 2018 commissioner of income tax .....appellant(s) versus m/s. classic binding industries .....respondent(s) with civil appeal no(s). 7223 of 2018 civil appeal no(s). 7220 ..... whether an assessee who sets up a new industry of a kind mentioned in sub-section (2) of section 80-ic of the act and starts availing exemption of 100 per cent tax under sub-section (3) of section 80-ic (which is admissible for five years) can start claiming the exemption at the same .....

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Aug 10 2018 (HC)

M/S T T K Prestige Ltd Vs. The Deputy Commissioner of Income Tax

Court : Karnataka

..... made the following: order this writ petition is filed by the petitioner- assessee challenging the notice [annexure-g]. dated 11.02.2014 issued under section 148 of the income tax act, 1961 ['act' for short]. as also the order dated 1.7.2015 [annexure-q]., issued by the respondent, rejecting the objections of the petitioner.2. this is the second ..... after substitution of section 147 of the income tax act, 1961 by direct tax laws (amendment) act, 1987?. to answer the above question, we need to note the changes undergone by section 147 of the income tax act, 1961 [for short, "the act"].. prior to direct tax laws (amendment) act, 1987, section 147reads as under:"147. income escaping assessment. if [a]. the income-tax officer has reason to believe that, by ..... reason of the omission or failure on the part of an assessee to make a return under section 139 for any assessment year to the income-tax officer or ..... when jurisdiction under section 263 is invoked. thus where an assessing officer incorrectly or erroneously applies law or comes to a wrong conclusion and income chargeable to tax has escaped assessment, resort to section 263 of the act is available - 30 - and should be resorted to. but initiation of reassessment proceedings will be invalid on the ground of change of .....

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Jul 23 2018 (HC)

M/S Fidelity Business Services India Pvt Ltd Vs. Assistant Commissione ...

Court : Karnataka

..... in the appeal. in other words, though not by any express provision, yet ancillary to the jurisdiction given by section 254 of the income-tax act, the income-tax appellate tribunal has power to restore and rehear an appeal disposed of an the merits in the absence of any hearing. 58. in the ..... and the high court affirmed the decision of the tribunal. on appeal to the supreme court: held, that under section 254 (1) of the income-tax act, 1961, the appellate tribunal had no power to take back the benefit conferred by the assessing officer or enhance the assessment. since the assessing ..... though such expenditure cannot be admissible as development rebate, but the same was admissible as an allowance under section 10(2)(v) of the income tax act and it allowed the expenditure as current repairs to the existing machinery . the apex court upholding the said order of the learned tribunal held ..... bed-rock of this appeal, in which we propose to interpret the powers of the tribunal while dealing with the appeals under section 254 of the income tax act, 1961.4. this appeal has been filed by the appellant assessee - m/s. fidelity business services india pvt. ltd., bengaluru, raising the ..... acquire credibility only when people will be convinced that justice is based on the foundation of the truth 3. whether the income tax appellate tribunal, being a creature of statute, income tax act and being the final fact finding body and being a non- departmental appellate forum also has a similar mandate in law .....

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Jul 23 2018 (HC)

The Commissioner of Income Tax Vs. M/S Prakash Electric Company

Court : Karnataka

..... hands of the successor company. the learned ar further submitted that except clause (b) of proviso to section 47(xiii), all the conditions are satisfied. section 47a(3) of the income-tax act. section 47a(3): where any of the conditions laid down in the proviso to clause (xiii) or the proviso to clause (xiv) of section 47 are not complied with, the ..... finance ita no.884/2007 c/w ita no.60/2015 date of order:23. 07-2018. the commissioner of income tax & anr. vs. m/s prakash electric company 9/30 act, 1998 with effect from 01.04.1999. the relevant observations of the income tax appellate tribunal in this regard are quoted below for ready reference: 45. now, before we discuss as to whether ..... ) ita no.884/2007 c/w ita no.60/2015 date of order:23. 07-2018. the commissioner of income tax & anr. vs. m/s prakash electric company 13/30 of section 47 of the act is a beneficial provision introduced by finance act, 1998 with effect from 01.04.1999 to encourage corporatisation in the business world and to avoid levy of taxation ..... on such restructuring of business organizations, the parliament did not intend to levy of any income tax and therefore, subject to the conditions stipulated in proviso (a) to (e) of clause (xiii) in section 47 of the act, such transfer of capital assets or the intangible asset by the firm to a limited company was sought to be .....

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Jul 19 2018 (HC)

Commissioner of Income Tax,(exemptions) Vs. M/S Maria Social Service S ...

Court : Karnataka

..... stipulation in the memorandum of association by the respondent assessee trust prohibiting any such transfer of funds to another charitable trust which was also registered under the provisions of the income tax act although some of the remittances were transferred to them prior to it s registration. no evidence for misuse of such foreign date of judgment 19-07-2018 i.t.a ..... of puttur. later on the said m/s.malankara catholic diocese of puttur was also registered as a charitable trust under the provisions of sections 11 and 12 of the income tax act, 1961.6. having heard the learned counsel for the appellant revenue, we do not find any perversity or illegality in the findings of the appellate tribunal. the same are based ..... .delivered the following:- judgment mr.e.i.sanmathi, adv. for appellant-revenue the revenue has filed this appeal under section 260a of the income tax act, 1961 purportedly raising the substantial question of law arising from the order passed by the learned income tax appellate tribunal, bengaluru bench c , bengaluru in i.t.a.no.1361/bang/2014 (maria social service society vs. commissioner of ..... ) vs. m/s. maria social service society 3/11 cancelled the registration of the respondent assessee charitable trust under section 12aa(3) of the income tax act.3. the said authority cancelled the registration giving the findings that the respondent assessee trust had received some foreign remittances and made over the said remittances to another charitable trust .....

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Jul 16 2018 (HC)

M/S Swiss Re Global Business Solutions Vs. Assistant Commissioner of I ...

Court : Karnataka

..... assessee. the assessee m/s swiss re global business solutions india private limited has filed this appeal u/s 260a of the income tax act, 1961 ( act for short) raising the following purported substantial questions of law from the order of the income tax appellate tribunal, a bench, bangalore, in it [tp]. a no.380/bang/2016 dated 08.07.2016 relating to the assessment year ..... and quick judicial dispensation in such cases. had it been a case of substantial question of interpretation of provisions of double taxation avoidance treaties (dtaa), interpretation of provisions of the income tax act or overriding effect of the treaties over the domestic legislations or the questions like treaty shopping, base erosion and profit shifting (beps), transfer of shares in ..... that the date of judgment 16-07-2018, ita no.616/2016 m/s swiss re global business solutions india private limited vs. assistant commissioner of income tax 15/15 court u/s 260a of the act cannot itself engage in undertaking the study of the comparables itself nor it has any wherewithal, the necessary facts and figures and expertise to undertake such ..... of judgment 16-07-2018, ita no.616/2016 m/s swiss re global business solutions india private limited vs. assistant commissioner of income tax 6/15 at all a sufficient reason to invoke section 260-a of the act before this court.58. the appeals filed by the revenue are therefore dismissed with no order as to costs. 4. however, learned counsel .....

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Jul 09 2018 (SC)

Union of India Vs. Moolchand Khairati Ram Trust

Court : Supreme Court of India

..... inclined to agree with mr. b. sen, learned counsel for the delhi municipal corporation in would necessarily involve public benefit. the rulings arising out of income tax act 78. may not be of great help because in the income tax act "charitable purpose" includes the relief of the poor, relief and the advancement of any other object of general public utility. the advancement of any ..... the poor relations of the settlor or donor will not be a charitable purpose within the definition. trustees of gordhandas govindram family charity trust v. commissioner of income tax, air1952bom 346. [s. 4(3)(i) income tax act 1992]. charitable purpose' the dominant purpose of a state bar council is to ensure quality service of competent lawyers to the litigating public, a spread 39 ..... of the trust never intended that free treatment should be provided to the poor and needy. reliance has been placed on the 28 definition of charity in charitable endowment act, 1890 and income tax act, 1961. the policy decision taken in 1949, did not envisage free treatment to the patients. in the allotment letter, there was no such condition that free treatment ..... created the trust, never intended that free treatment should be provided to the poor and needy. reliance has been placed on the definition of charity in charitable endowment act, 1890 and income tax act, 1961 and the land had been allotted to the trust as per the directions issued by the ministry of rehabilitation as the trustees came to india as refugees from .....

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Jul 05 2018 (HC)

G. Shubha Devi Vs. The Income Tax Officer

Court : Karnataka

..... sri.g sambasiva rao, has filed this appeal under section 260-a date of judgment:05.07.2018 in ita no.94/2016 g shubha devi vs. the income tax officer 3 of the income tax act, 1961, raising the substantial question of law against the order passed by learned itat dated 09.10.2015 for the assessment year 2010-11, partly allowing the appeal ..... /- produced as annexure-c;2) to set aside the order dated0105/2014 passed by the commissioner of income tax ita no.101/w-3(1)/cit(a)-ii/2012-13 in so for as disallowing the interest ordered to be changed under section234 & b of the income tax act, 1961 produced as annexure b and3 to allow this appeal with costs to meet the ends of ..... authority has the power of a civil court by virtue of date of judgment:05.07.2018 in ita no.94/2016 g shubha devi vs. the income tax officer 15 section 131 of the act. therefore, he could very well summon these agriculturists and after their examination, he could have believed or discarded the evidence given by them. misplaced apprehension of the ..... 2010-11 with regard to the additions of cash credit under date of judgment:05.07.2018 in ita no.94/2016 g shubha devi vs. the income tax officer 13 section 68 of the act to an extent of rs.5,07,900/-?. 9. learned counsel for the revenue mr.k v aravind, however, supported the impugned order of the learned tribunal .....

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Jul 03 2018 (SC)

Chintpurni Medical College and Hospital Vs. The State of Punjab

Court : Supreme Court of India

..... enjoined to perform a quasi judicial function such as that of grant of registration to a political party or issue a certificate under the income tax act, section 21 has no application and confers no power to review such an act because the party has violated a provision of the constitution of law, vide indian national congress (i) vs. institute of social ..... to withdraw the same has been so conferred. such a power cannot be arrogated relying on section 21 of the general clauses act. a similar question arose in industrial infrastructure 30. development case (supra) where the commissioner of income tax cancelled a registration certificate because it contained an error apparent from the record. this court held that the certificate was issued ..... welfare10 and industrial 10 (2002) 5 scc68519 infrastructure development corporation (gwalior) m.p. ltd. vs. commissioner of income tax, gwalior11. in the indian national congress (i) case (supra), ..... this court 26. held that where the law requires that an authority before arriving at a decision must make an enquiry, such a requirement of law makes the authority a quasi judicial authority. also when the authority is required to act according to rules and not .....

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Jul 02 2018 (HC)

Pr. Commissioner Of Vs. Shri. V. Ramaiah

Court : Karnataka

..... no substantial question of law arises in the present appeal filed by the revenue in as much as the recording of reasons for reassessment under section 147/148 of the income tax act or non-communication thereof to the assessee does not amount to a mere procedural lapse. in view of the aforesaid supreme court decision in gkn driveshaft s case, it goes ..... . for appellant mr.a.shankar and m.lava, advs. for respondents the revenue has filed this appeal under section 260a of the income tax act, 1961 raising following suggested substantial question of law as arising from the order of the learned income tax appellate tribunal passed on 10.01.2017 in ita no.1282/bang/2013, which is quoted below: whether on the facts and ..... .m.lava, advocates) appellants respondent date of judgment 02-07-2018 i.t.a.no.451/2017 pr.commissioner of income tax-4 & anr. vs. shri.v.ramaiah 2/16 this i.t.a is filed under section 260-a of income tax act 1961, arising out of order dated:10/01/2017 passed in ita no.1282/bang/2013, for the assessment year 2009 ..... rs.2,56,922/- should be taken as return filed in response to section 148 of the it act. subsequently assessee filed a letter dated 22.11.2011 date of judgment 02-07-2018 i.t.a.no.451/2017 pr.commissioner of income tax-4 & anr. vs. shri.v.ramaiah 7/16 wherein he has stated that the return filed under protest on .....

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