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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Page 8 of about 263,910 results (0.526 seconds)

Oct 13 2017 (SC)

Federation of Indian Mineral Industries Vs. Union of India

Court : Supreme Court of India

..... , 1961 inserted by the finance act.11 the rate of surcharge was not specified in the proviso nor the date for the levy. the consequence of this ..... . a much more erudite, general and broad-based discussion on the subject is to be found in the constitution bench decision in commissioner of income tax (central) i v. vatika township private limited9 and we are obviously bound by the conclusions arrived at therein. it is not at all ..... act that the tax shall not be levied at more than one stage had not been satisfied. therefore, it quashed the assessment complained of and allowed the appeal of the assessee.30. in vatika township the constitution bench was concerned with the impact of the proviso appended to section 113 of the income tax act ..... of the block period, determined under section 158bc, shall be chargeable to tax at the rate of sixty per cent: provided that the tax chargeable under this section shall be increased by a surcharge, if any, levied by any central act and applicable in the ..... was that some assessing officers were not levying any surcharge and those who were levying surcharge adopted different dates for the 11 113. tax in the case of block assessment of search cases.-the total undisclosed income .....

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Oct 04 2017 (SC)

Commissioner of Income Tax Vs. Balbir Singh Maini

Court : Supreme Court of India

..... handed over under the jda, the same would tantamount to transfer within the meaning of sections 2(47)(ii), (v) and (vi) of the income tax act. he further held that, in the case of an assessee owning a 1000 square yards plot, the full value of consideration would be rs.3.675 ..... in this section shall affect the rights of a transferee for consideration who has no notice of the contract or of the part performance thereof.]. 25 income tax act section 2 - definitions in this act, unless the context otherwise requires, (47) "transfer", in relation to a capital asset, includes, - (i) to (iv) xxx xxx xxx ..... therefore, the itat was right 13 in stating that since section 53a had been incorporated into section 2(47)(v) of the income tax act, it was unnecessary, for the purpose of the income tax act, to have such an agreement registered. he further argued that the itat was correct in finding that possession had in fact ..... of all, it is now well settled that income tax cannot be levied on hypothetical income. in cit v. shoorji vallabhdas and co. [cit v. shoorji vallabhdas and co., (1962) 46 itr144(sc)]. it was held as follows: (itr p.148) income tax is a levy on income. no doubt, the income tax act takes into account two points of time at which ..... this being so, no profits or gains arose from the transfer of a capital asset so as to attract sections 45 and 48 of the income tax act.29. we are, therefore, of the view that the high court was correct in its conclusion, but for the reasons stated by us .....

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Oct 04 2017 (SC)

Dushyant N Dalal Vs. Securities and Exchange Board of India

Court : Supreme Court of India

..... the rules made thereunder were the 11 provisions of this act and referred to the amount due under this act instead of to income-tax under the income-tax act, 1961. explanation 1. for the purposes of this sub- section, the person s movable or immovable property or monies held in bank ..... person s movable and immovable properties, and for this purpose, the provisions of sections 220 to 227, 228a, 229, 232, the second and third schedules to the income-tax act, 1961 (43 of 1961) and the income-tax (certificate proceedings) rules, 1962, as in force from time to time, in so far as may be, apply with necessary modifications as if the said provisions and ..... which belongs to the realm of substantive law, the tribunal is correct in stating that such interest would be chargeable under section 28a read with section 220(2) of the income tax act only prospectively.4 however, since it has not 4 the same 2014 amendment which introduced section 28a, with effect from 18.7.2013, also introduced section 15jb retrospectively, with effect ..... right to enforce disgorgement, which would necessarily include future interest. he added that 8 section 28a belongs to the realm of procedural law, and when section 220(2) of the income tax act gets attracted, because of section 28a, such interest belonging to the realm of procedural law would necessarily be payable. even otherwise, according to learned counsel, interest is payable in equity .....

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Oct 04 2017 (SC)

Commissioner of Trade and Taxes Vs. M/S Ahluwalia Contracts (India) Lt ...

Court : Supreme Court of India

..... order directing a fresh assessment. the principal relief sought in the writ petition was the quashing of the notice under section 142(1) of the income tax act, and inasmuch as the assess- ment order dated march 31, 1977 was made during the pendency of the proceeding consequent upon a purported non- ..... if. notwithstanding his im- mediate grievance against the no- tice under section 142(1) of the income tax act, he had permitted the assessment proceeding to go on after registering his protest be- fore the income tax officer, and allowed an assessment order to be made in the normal course. in an application under ..... tions of this court in director of inspection of income tax (investi- gation) new delhi v. pooran mall & sons2 are relevant. it said: the court in exercising its powers under article 226 has to mould ..... and one that could be readily corrected by serving an appropri- ate notice. it was not a defect affecting the fundamental juris- diction of the income tax officer to make the assessment. in our opinion, the high court was plainly right in making the direc- tion which it did. the observa- ..... high court, after considering the pro- visions of section 153 of the in- come tax act, considered it appro- priate. while deposing of the writ petition, to issue a direction to (1978) 114 itr379(cal) 3 26 the income tax officer to complete the assessment which, but for the direction of the high court, .....

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Oct 04 2017 (SC)

Commissioner of Trade and Taxes Vs. Tirath Ram Ahuja Pvt. Ltd.

Court : Supreme Court of India

..... order directing a fresh assessment. the principal relief sought in the writ petition was the quashing of the notice under section 142(1) of the income tax act, and inasmuch as the assess- ment order dated march 31, 1977 was made during the pendency of the proceeding consequent upon a purported non- ..... if. notwithstanding his im- mediate grievance against the no- tice under section 142(1) of the income tax act, he had permitted the assessment proceeding to go on after registering his protest be- fore the income tax officer, and allowed an assessment order to be made in the normal course. in an application under ..... tions of this court in director of inspection of income tax (investi- gation) new delhi v. pooran mall & sons2 are relevant. it said: the court in exercising its powers under article 226 has to mould ..... and one that could be readily corrected by serving an appropri- ate notice. it was not a defect affecting the fundamental juris- diction of the income tax officer to make the assessment. in our opinion, the high court was plainly right in making the direc- tion which it did. the observa- ..... high court, after considering the pro- visions of section 153 of the in- come tax act, considered it appro- priate. while deposing of the writ petition, to issue a direction to (1978) 114 itr379(cal) 3 26 the income tax officer to complete the assessment which, but for the direction of the high court, .....

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Oct 04 2017 (SC)

Commissioner of Trade and Taxes, Delhi Vs. Jaycon Infrastructure Pvt. ...

Court : Supreme Court of India

..... order directing a fresh assessment. the principal relief sought in the writ petition was the quashing of the notice under section 142(1) of the income tax act, and inasmuch as the assess- ment order dated march 31, 1977 was made during the pendency of the proceeding consequent upon a purported non- ..... if. notwithstanding his im- mediate grievance against the no- tice under section 142(1) of the income tax act, he had permitted the assessment proceeding to go on after registering his protest be- fore the income tax officer, and allowed an assessment order to be made in the normal course. in an application under ..... tions of this court in director of inspection of income tax (investi- gation) new delhi v. pooran mall & sons2 are relevant. it said: the court in exercising its powers under article 226 has to mould ..... and one that could be readily corrected by serving an appropri- ate notice. it was not a defect affecting the fundamental juris- diction of the income tax officer to make the assessment. in our opinion, the high court was plainly right in making the direc- tion which it did. the observa- ..... high court, after considering the pro- visions of section 153 of the in- come tax act, considered it appro- priate. while deposing of the writ petition, to issue a direction to (1978) 114 itr379(cal) 3 26 the income tax officer to complete the assessment which, but for the direction of the high court, .....

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Sep 18 2017 (HC)

M/S Banwarilal Goel and Sons and Ors. Vs. Kolkata Municipal Corporatio ...

Court : Kolkata

..... proceedings and unnecessary harassment, the high courts will issue appropriate orders or directions to prevent such consequences. writ of certiorari and prohibition can issue against the income tax officer acting without jurisdiction under section 34, income tax act. 20. much water has since flown under the bridge, but there has been no corrosive effect on these decisions which, though old, continue to hold ..... remedy was a factor to be taken into consideration in the matter of granting writs. this was followed by another rashid case, namely, k.s.rashid & son v. income tax investigation commission [air1954sc207: (1954) 25 itr167 which reiterated the above proposition and held that where alternative remedy existed, it would be a sound exercise of discretion to refuse to ..... a tenant by the petitioner at the said premises. thereafter, three hearing notices were served upon the petitioner under section 183(3) / 184(4) of the kolkata municipal act, 1980 indicating the proposed annual valuation and invited the objection from the petitioner before the hearing officer on 15th december, 2014. it is an admitted fact that they appeared ..... the annual valuation of the property in question but also challenged the final order of the hearing officer determining the annual valuation for the purpose of ascertaining the property tax laviable on the premises owned by the petitioner. the petitioner claimed to be the owner of the municipal premises number 17, shyama prasad mukherjee road, kolkata 700 025 .....

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Sep 15 2017 (SC)

State of Uttaranchal Vs. M/S. Kumaon Stone Crusher

Court : Supreme Court of India

..... which will come in the category of manufacture or pro duction under section 80 ia of the income tax act. 71. in the above view, this court held that assessee was entitled for the benefit of section 80 1a of the income tax act, 1961. the above case was directly con cerned as to what was the manufacture or production ..... , which was defined in the act itself and the marble slabs or tiles were held to be covered by manufacture or production ..... concerned. 66 70. now, we come to the case of marble slabs & tiles, chips etc. writ petitioners have placed reliance on three judge bench judgment in income tax officer, udaipur vs. arihant tiles and marbles private limited, (2010) 2 scc 699. the question of consideration in the above case was that whether conversion of ..... 2047 of 2006 203 order in this appeal has been reserved on 03.08.2017. this appeal does not relate to entry tax rather the leviability of trade tax under the u.p. trade tax act, 1948. this appeal is de-tagged to be listed after two weeks. slp(c)nos.13656 and 15721 of 2012 order ..... no.2047 of 2006 order in this appeal has been reserved on 03.08.2017. this appeal does not relate to entry tax rather the leviability of trade tax under the u.p. trade tax act, 1948. this appeal is de tagged to be listed after two weeks. slp(c)nos.13656 and 15721 of 2012 .....

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Sep 12 2017 (HC)

(International Taxation), Kolkata Vs. Income Tax Settlement Commission ...

Court : Kolkata

..... stood transferred abroad. on the contrary, since the plants are to be installed in india, the sale stands concluded on indian territory and, therefore, the income derived therefrom is amenable to income tax under the income tax act, 1961. he refers to various clauses of the contract in support of such contention. referring to the impugned order passed by the settlement commission, learned advocate ..... by the settlement commission is justiciable. jyotendrasinhji (supra) is of the view that, an order of the settlement commission which is contrary to any of the provisions of the income tax act, 1961 and prejudicial to the interest of the assessee is amenable to interference under article 226 of the constitution of india. an order of the settlement commission can also ..... assessment years 2005-06 to 20092010 for the respondent no.4. by an order dated june 29, 2010 the settlement commission admitted such application under section 245d(1) of the income tax act, 1961. the settlement application was disposed of by the impugned order dated december 13, 2011. the parties were heard during the settlement proceedings. the impugned order is detailed. ..... page 611 (sc) (jyotendrasinhji v. s.i.tripathi & ors.) and submits that, since the order of the settlement commission is not contrary to the provisions of the income tax act, 1961, the writ court need not interfere with the impugned order. learned senior advocate appearing for the respondent nos.2, 3 and 4 submits that, the private respondents are .....

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Sep 11 2017 (HC)

Deepak Kumar Sanwaria Vs. The State of Jharkhand

Court : Jharkhand

..... 2014. besides he is also an accused in c.o. case no. 02/2017. it is also submitted that the notice under section 221 (1) of the income tax act copy of which is kept at page 27 of the brief is not a notice after reassessment but is a notice for demand for payment of the ..... been associated with the said bhavesh comotrade private limited company at any point of time and the notice for penalty under section 221(1) of the income tax act, 1961 dated 31.08.2016, copy of which is kept at page 27 of the brief, has been issued consequent upon the reassessment of the ..... said company they will return the amount taken by them to the infromant and also promised that they will take care of the disputes of the company with the income tax department. it is, further, alleged that on 02.05.2012, rs. 42,00,000/- was given to the co-accused vivek agarwal and on 08.05. ..... the shares of the company also will be of the informant. the petitioner further gave his guarantee that there is neither any wrong with the company nor any income tax due was payable by the said company. it was agreed to between the parties that the ownership rights of the company will be transferred to the informant on ..... informant on the other hand opposes the prayer for grant of anticipatory bail and by drawing attention to the statement made by the petitioner before the income tax authority under oath it is submitted that the petitioner was very much associated with the said bhavesh comotrade private limited and was well aware about the .....

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