Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Year: 2014 Page 1 of about 4,140 results (0.106 seconds)

Dec 24 2014 (HC)

Commissioner of Income-tax-I Vs. Joint Venture of MCL and MMCL (AOP)

Court : Gujarat

Decided on : Dec-24-2014

..... filed its return for the assessment year 1996-97 on 30.10.1996, declared total income of rs.20,35,000/-. thereafter, the return was processed under section 143(1)(a) of the income tax act. the assessing officer, after scrutiny, passed order under section 143(3) of the income tax act and the amount of registration fee paid to sebi was disallowed as capital expenditure. ..... against the said order, the assessee filed an appeal before the commissioner of income tax (appeals). the cit(a) partly allowed the said appeal. being aggrieved ..... are being head and decided by this common judgment. 2. by way of these appeals, the appellant-revenue has challenged the common order dated 24.03.2006, passed by the income tax appellate tribunal, ahmedabad (for short "the tribunal") in ita nos. 1641 and 1642/ahd/2001, whereby the appeals preferred by the assessees were allowed by the tribunal. 3. ..... and dissatisfied by the said order, the assessee filed an appeal before the tribunal. the tribunal vide impugned order dated 24.03.2006 allowed the appeal of the assessee. hence, these appeals are filed at the instance of the assessees. 5. while admitting tax appeal no.832 .....

Tag this Judgment!

Dec 24 2014 (HC)

Malreddy Ranga Reddy, Hyderab Vs. Assistant Commissioner of Income Tax ...

Court : Andhra Pradesh

Decided on : Dec-24-2014

..... per the honble sr.justice l.narasimha reddy) this appeal under section 260-a of the income tax act, 1961 (for short the act) is preferred against the order dated 28.04.2004 passed by the hyderabad bench a of the income tax appellate tribunal (for short tribunal) in it(ss).no.123/hyd/2003. the assessee is ..... department in exercise of power under section 132 of the act. a receipt evidencing payment of a sum of rs.10,00,000/- to one mr.prabhakar reddy is said to have ..... of block assessment on 31.01.2003 adding a sum of rs.10,00,000/- to his income and levying tax as provided for under chapter 14b of the act. the appellant filed an appeal before the commissioner of income tax (appeals)-i, hyderabad. the same was dismissed on 22.08.2003. thereupon, he filed an ..... the honble sr.justice m. m.seetharama murti i.t.t.a.no.148 of 2004 24-12-2014 malreddy ranga reddy, hyderabad.appellant assistant commissioner of income tax, central circle 2, hyderabad.respondent counsel for the appellant: sr.y. ratnakar counsel for respondent: ms.m.kiranmayee, representing sr.j.v.prasad, learned senior ..... the appellant. the premises of the appellant was searched on 19.01.2001 by the officials of the income tax .....

Tag this Judgment!

Dec 24 2014 (HC)

Malreddy Ranga Reddy, Hyderab Vs. Assistant Commissioner of Income T ...

Court : Andhra Pradesh

Decided on : Dec-24-2014

..... per the honble sr.justice l.narasimha reddy) this appeal under section 260-a of the income tax act, 1961 (for short the act) is preferred against the order dated 28.04.2004 passed by the hyderabad bench a of the income tax appellate tribunal (for short tribunal) in it(ss).no.123/hyd/2003. the assessee is ..... department in exercise of power under section 132 of the act. a receipt evidencing payment of a sum of rs.10,00,000/- to one mr.prabhakar reddy is said to have ..... of block assessment on 31.01.2003 adding a sum of rs.10,00,000/- to his income and levying tax as provided for under chapter 14b of the act. the appellant filed an appeal before the commissioner of income tax (appeals)-i, hyderabad. the same was dismissed on 22.08.2003. thereupon, he filed an ..... the honble sr.justice m. m.seetharama murti i.t.t.a.no.148 of 2004 24-12-2014 malreddy ranga reddy, hyderabad.appellant assistant commissioner of income tax, central circle 2, hyderabad.respondent counsel for the appellant: sr.y. ratnakar counsel for respondent: ms.m.kiranmayee, representing sr.j.v.prasad, learned senior ..... the appellant. the premises of the appellant was searched on 19.01.2001 by the officials of the income tax .....

Tag this Judgment!

Dec 23 2014 (HC)

Commissioner of Income-tax-I Vs. Gujarat Alkalies and Chemicals Ltd.

Court : Gujarat

Decided on : Dec-23-2014

..... the learned cit(a), who partly allowed the appeal filed by the assessee. being aggrieved and dissatisfied with ..... , herein, filed its return of income along with computation of income, audit report etc. for the year under consideration on 30.12.1991, declaring its total income at 'nil'. the case of the assessee came to be processed and it was issued notices under sections 143(2) and 142(1) of the income tax act, 1961 (for short, 'the act'). at the end of the assessment ..... proceedings, the concerned ao made certain additions/disallowances to the income of the assessee. hence, the assessee approached ..... while answering the similar question in favour of the assessee and against the revenue, this court observed and held as under; "if the facts as recorded by the commissioner of income-tax (appeals) and the tribunal can be said to have achieved finality, it would emerge that the assessee through its existing administrative mechanism started a new facility for production of soda .....

Tag this Judgment!

Dec 23 2014 (HC)

Assistant Commissioner of Income-tax,CC-2, Baroda Vs. Natubhai M. Makw ...

Court : Gujarat

Decided on : Dec-23-2014

..... be relevant to advert to the factual scenario, which emerges as follows; 5. a search and seizure was carried out in the case of assessee under section 132 of the income tax act, 1961 ('the act', for short) on 02.07.2002. pursuant thereto, the assessee was issued a notice under section 158bc of the ..... act as the assessee had failed to pay the tax on the undisclosed income fully. the assessee had failed to pay the tax on the undisclosed income fully. the assessee had paid tax only of rs.7,36,000/- as against rs.12,83,293/- on undisclosed ..... tribunal has erred in law and on facts in deleting the penalty of rs.12,83,290/- imposed u/s. 158bfa(2) of the act, more particularly, when the assessee has failed to pay the tax in its entirety on the undisclosed income. it is submitted that the ao had levied penalty of rs.12,83,290/- u/s. 158bfa(2) of the ..... appeals, is that the tribunal's finding that penalty under section 271(1)(c) and section 158bfa(2) of the act are akin to each other is bad, as the assessee-respondent, herein, failed to pay tax in its entirety on the undisclosed income, which was disclosed during the search and seizure proceedings. it is, further, submitted that as the assessee failed to .....

Tag this Judgment!

Dec 23 2014 (HC)

Gujarat Narmada Vally Fertilisers Ltd. Vs. Deputy Commissioner of Inco ...

Court : Gujarat

Decided on : Dec-23-2014

..... have heard learned advocates appearing for the parties and perused the material on record. before dealing with the contentions, it would be relevant to reproduce section 155(4a) of the income-tax act, which reads as under: '155(4a) where an allowance by way of investment allowance has been made wholly or partly to an assessee in respect of a ship or an ..... "new machinery or plant" shall have the same meaning as in the (explanation below sub-section (2) of section 32a.' 7. on plain reading of section 155(4a) of the income-tax act, we find substance in the contention of learned senior advocate for the appellant-assessee that the conditions which have been enumerated in clause 4a of section 155 of the ..... income tax act are not fulfilled by the revenue. therefore, in our considered opinion the question no.1 raised in this appeal is required to be answered in favour of the assessee and ..... .5,09,96,806/-. the return was processed and thereafter the assessing officer passed order under section 143(3) of the income-tax act. against the order of the assessing officer, the assessee had filed an appeal before the commissioner of income tax (appeals). the cit(a) partly allowed the said appeal for statistical purposes. 2.1 being aggrieved and dissatisfied with the order of the .....

Tag this Judgment!

Dec 23 2014 (HC)

Commissioner of Income-tax-I Vs. Bharat V. Patel

Court : Gujarat

Decided on : Dec-23-2014

..... asssessees made addition of amount received on redemption of stock appreciation rights as a perquisite u/s. 17(2)(iii) of the income tax act, 1961 (hereinafter referred to as 'the act'). the moot question involved in these appeals is as to whether the gain arising out of such transactions is to be considered as short term capital gain or long term ..... not find merit in the contention advanced on behalf of the department that section 17(2)(iiia) inserted by finance act, 1999 w.e.f. 1.4.2000 was clarificatory and, therefore, retrospective in nature. 15. in the case of commissioner of income-tax, bangalore v. b.c. srinivasa setty [(1981) 128 itr 294 (sc)] this court held that the charging section and ..... computation provision under the 1961 act constituted an integrated code. the mechanism introduced for the first time under the finance act, 1999 by which cost was explained in the manner stated above ..... . 14 of 2004 "whether the income tax appellate tribunal was correct in treating the sum of rs. 6,80,40,724/- being the amount received on redemption of stock appreciation rights (sars) as capital gain as against treated as perquisite under sec.17(2)(iii) of the i.t. act or under sec. 28(iv) of the act purportedly on the ground that the .....

Tag this Judgment!

Dec 23 2014 (HC)

Commissioner of Income Tax (Central) Ii Vs. Home Developers Pvt.Ltd.

Court : Delhi

Decided on : Dec-23-2014

..... . ita8032014 were subject to search and seizure operations under section 132 of the income tax act, 1961 (act, for short) on 28th march, 2006. notice under section 153a was issued and return of income for assessment year rs.10,15,899/-. 2004-05 was filed declaring income of the respondent company had surrendered undisclosed income of rs.2 crores during the course of search. in addition, disclosure ..... ble mr. justice v. kameswar rao sanjiv khanna, j.(oral) this appeal filed by the revenue pertains to assessment year 2004-05 and impugns the findings recorded by the income tax appellate tribunal (tribunal, for short) in their order dated 21 st september, 2012.2. the appeal, it appears, was filed within time, but returned under office objection and there is ..... found mentioned on page no.22 of annexure a-11. i am satisfied the assessee has furnish/ concealed particulars of his income. penalty proceedings u/s 271(1)(c) is being initiated on this point separately. 5. the commissioner of income tax (appeals) in the quantum appeal observed that the addition on account of unaccounted transactions was not justified as the assessee himself ..... $~ *in the high court of delhi at new delhi + ita8032014 date of decision:23. d december, 2014 commissioner of income tax (central) ii ..... appellant through mr. rohit madan, sr. standing counsel with mr. ruchir bhatia, advocate. versus home developers pvt.ltd. through ..... respondent coram: hon'ble mr. justice sanjiv khanna hon' .....

Tag this Judgment!

Dec 23 2014 (HC)

Commissioner of Income Tax (Central) Ii Vs. Home Developers Pvt.Ltd.

Court : Delhi

Decided on : Dec-23-2014

..... . ita8032014 were subject to search and seizure operations under section 132 of the income tax act, 1961 (act, for short) on 28th march, 2006. notice under section 153a was issued and return of income for assessment year rs.10,15,899/-. 2004-05 was filed declaring income of the respondent company had surrendered undisclosed income of rs.2 crores during the course of search. in addition, disclosure ..... ble mr. justice v. kameswar rao sanjiv khanna, j.(oral) this appeal filed by the revenue pertains to assessment year 2004-05 and impugns the findings recorded by the income tax appellate tribunal (tribunal, for short) in their order dated 21 st september, 2012.2. the appeal, it appears, was filed within time, but returned under office objection and there is ..... found mentioned on page no.22 of annexure a-11. i am satisfied the assessee has furnish/ concealed particulars of his income. penalty proceedings u/s 271(1)(c) is being initiated on this point separately. 5. the commissioner of income tax (appeals) in the quantum appeal observed that the addition on account of unaccounted transactions was not justified as the assessee himself ..... $~ *in the high court of delhi at new delhi + ita8032014 date of decision:23. d december, 2014 commissioner of income tax (central) ii ..... appellant through mr. rohit madan, sr. standing counsel with mr. ruchir bhatia, advocate. versus home developers pvt.ltd. through ..... respondent coram: hon'ble mr. justice sanjiv khanna hon' .....

Tag this Judgment!

Dec 23 2014 (HC)

M/S. Reckitt Benckiser (India) Ltd. Vs. The Addl. Commissioner of Inco ...

Court : Kolkata

Decided on : Dec-23-2014

..... disregarding the intention of the parliament which has in narrower using the expression connotation in derived comparison to by the phrase attributable to used in the other provision of the income tax act?. the appeals are taken up for hearing and we have heard the submissions made on behalf of the respective parties. with regard to the questions formulated, the issue is interpretation ..... of the word derived as used in section 80-ic of the income tax act, 1961. on the question regarding interest income mr.rao relied on several decisions, on two of which he laid emphasis. he submitted that this was a question of law which required answer by this ..... : these two appeals being itat no.41 of 2014 and itat no.59 of 2014 under section 260a of the income tax act, 1961 have been preferred by the assessee and the revenue respectively against order dated 30th december, 2013 passed by the income tax appellate tribunal a bench, kolkata in ita no.701/kolkata/2011 relating to the assessment year 2007-08. the assessee ..... was approved and reiterated in 1955 by a constitution bench of this court in the decision of mrs.bacha f. guzdar v. cit [1955].27 itr1 it is clear, therefore, that the word derived from in section 80hh of the income-tax act, 1961 must be understood as something which has direct or immediate nexus with the appellant s industrial undertaking. although electricity may .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //