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Judgment Search Results Home > Cases Phrase: income tax act Year: 1986 Page 1 of about 2,073 results (0.137 seconds)

Jan 31 1986 (HC)

Commissioner of Income-tax Vs. M. George and Brothers

Court : Kerala

Decided on : Jan-31-1986

Reported in : (1987)59CTR(Ker)298; [1986]160ITR511(Ker)

fathima beevi, j.1. this reference under section 256(2) of the income-tax act arises for the assessment year 1969-70. a penalty of rs. 3,13,877 levied under section 271(1)(c) of the act by the inspecting assistant commissioner was cancelled by the income-tax appellate tribunal. the following questions of law are referred as directed by this court at the instance of ..... the revenue :'1. whether, on the facts and in the circumstances of the case and in view of the fact that the assessee has agreed in writing to the addition of the concealed income ..... of rs. 2,33,687 and also to the levy of penalty, the income-tax appellate tribunal is right in law in deleting the penalty ignoring the admission made by the assessee ?2. whether, on the facts and ..... in the circumstances of the case, the income-tax appellate tribunal is right in law in finding that there is no concealment in respect of income from interest on gold and d.p.n. loans and is not this finding wrong and unreasonable and based on surmises only .....

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Mar 19 1986 (HC)

Commissioner of Income-tax Vs. Chandravilas Hotel

Court : Gujarat

Decided on : Mar-19-1986

Reported in : (1986)56CTR(Guj)182; [1987]164ITR102(Guj)

..... . the tribunal has completely ignored the settled position of law that rules of evidence do not apply to assessment proceedings under the income-tax act, 1961. as held by the supreme court in c. vasantlal co. v. cit : [1962]45itr206(sc) , the income-tax officer is not bound by any technical rules of the law of evidence. it is open to him to collect materials to ..... the material so collected, the assessee must be informed of the material and must be given an adequate opportunity of explaining it. in the case before the supreme court, the income-tax officer examined two witnesses in the absence of the assessee but the appellate assistant commissioner permitted the assessee to cross-examine those witnesses after summoning them. the supreme court held ..... that the statements made by the witnesses before the income-tax officer were material upon which the tribunal could act and it was open to the tribunal to rely upon the statements made by them before the income-tax officer and disbelieve the statements made by them before the appellate assistant commissioner. in view of the ..... settled position of law, it was open to the income-tax officer to examine ramkumar in the course of the .....

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Sep 30 1986 (SC)

Brooke Bond and Co. Ltd. (Now Known as Brooke Bond Leibig Ltd.) Vs. C. ...

Court : Supreme Court of India

Decided on : Sep-30-1986

Reported in : (1986)57CTR(SC)25; [1986]162ITR373(SC); 1986(2)SCALE573; (1986)4SCC689; [1986]3SCR980

..... year 1957-58 then pending in appeal before the assistant appellate commissioner, could not bring the case within proviso (b) to sub-section (1) of section 33a of the indian income tax act. it may be that the same point was the subject of the appeal, but the point agitated before the commissioner was with reference to the assessment year 1957-58. it ..... in different parts of the world, and has a hundred per cent share holding in an indian subsidiary, brooke bond (india) limited.3. the appellant is assessed under the indian income tax act, and the relevant financial year is the previous year in relation to the corresponding assessment year. for the assessment year 1955-56 the appellant was assessed on its total world ..... . on february 12, 1958 the appellant preferred two revisions applications, one each for the assessment years 1955-56 and 1956-57, before the commissioner of income-tax under sub-section (2) of section 33a of the indian income tax act, 1922. in the revision application for the assessment year 1955-56 the appellant claimed that the quantum of loss determined for that year having been ..... city v. chugandas and co. : [1965]55itr17(sc) and it was reiterated that business income was broken up under different heads under the income tax act only for the purpose of computation of the total income, and that by breaking up the income did not cease to be the income of the business. it was said:the heads described in section 6 and further elaborated for the .....

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May 02 1986 (SC)

Commissioner of Income Tax, Bombay Vs. Vanaz Engineering (P) Ltd., Bom ...

Court : Supreme Court of India

Decided on : May-02-1986

Reported in : AIR1987SC1143; (1986)58CTR(SC)51; [1986]162ITR876(SC); 1986(1)SCALE978; 1986Supp(1)SCC266; [1986]2SCR951

..... decided on january 8, 1986.9. it is urged by learned counsel for the appellant that the provisions of section 40a(7)(b)(ii) of the income tax act, 1961 have not been satisfied and, therefore, the respondent was not entitled to the deduction of the gratuity amount. the provisions of section 40a(7)(b ..... entire provision for gratuity amounting to rs. 2,11,305 either under section 28 read with section 29 or under section 37(1) of the income tax act, 1961?8. it is not clear whether the appellate tribunal made a reference or declined it. what purports to be a copy of the order ..... )(ii) have been recently construed by this court in shree sajjan mills ltd. v. commissioner of income tax, m.p. and anr. : 1986ecr276(sc) , and it seems to us necessary that the high court should examine whether those provisions have been complied ..... held that the entire amount was allowable. accordingly, he gave a relief of rs. 1,84,056.5. the revenue proceeded in second appeal to the income tax appellate tribunal, and the appellate tribunal, following an earlier decision rendered by it in a case where the decision of this court in metal box company of ..... prepared by a consulting actuary.3. in assessment proceedings for the assessment year 1971-72 (the relevant accounting period being the calendar year 1970), the income tax officer was not prepared to allow the entire amount claimed by the respondent as a provision on of gratuity. at his instance a certificate was .....

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Mar 19 1986 (SC)

Niranjan and Co. P. Ltd. Vs. Commissioner of Income-tax, West Bengal a ...

Court : Supreme Court of India

Decided on : Mar-19-1986

Reported in : AIR1986SC1853; (1986)2GLR1178; [1986]159ITR153a(SC); 1986(1)SCALE465; 1986Supp(1)SCC272; [1986]1SCR916; 1986(2)LC142(SC)

..... from the construction work aggregating to rs.12,797.65. after having made the assessment order on the basis of the first return, the income-tax officer issued a notice to the assessee under section 147 of the income-tax act, 1961 (hereinafter called the 'act'). it is stated that the ground for issue of this notice was that the revised return was not before the ..... income-tax officer when the assessment order was originally made but came to her possession later on when it was forwarded to her on 3rd december, 1963 ..... some failure or omission on the part of the assessee to disclose fully all relevant or material facts. the second right under clause (b) of section 147 of the act, which the income-tax officer has to reopen a completed assessment is that notwithstanding that there was no omission or failure on the part of the assessee either to make a return or ..... ramjidas 8 i.t.r. 442 it was held by the privy council that to enable the income-tax officer to initiate proceedings under section 34 of the 1922 act which is in pari materia with section 147 of the act, it is enough that the income-tax officer on the information which he had before him and in good faith reason to believe that profits .....

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Feb 24 1986 (HC)

Commissioner of Income-tax Vs. Anchor Pressing Pvt. Ltd

Court : Delhi

Decided on : Feb-24-1986

Reported in : [1986]160ITR597(Delhi)

..... s. ranganathan, j.1. these applications under section 256(2) of the income-tax act, 1961, can be disposed of by a consolidated order as they arise out of the assessments of the same assessed in somewhat similar circumstances. ..... it are not justified, as they ignore the context and the background in which these observations have been made. for the assessment year 1971-72, the income-tax officer had listed certain specific defects and discrepancies which are neatly summarised by the appellate assistant commissioner in paragraph 2 of his order. the appellate assistant ..... the department in these reference applications filed at the instance of the commissioner of income-tax is that the appellate tribunal was in error in reducing the addition to rs. 15,000 in the assessment year 1971-72 and in deleting the ..... book results and dismissed, the department's appeal and allowed the assessed's appeal. in the assessment year 1974-75, the income-tax officer made an addition of rs. 2,50,000 which was deleted by the appellate assistant commissioner as well as by the tribunal. the grievance of ..... s appeal restricting the addition only to rs. 15,000. for the assessment year 1972-73, the addition of rs. 5,32,277 made by the income-tax officer was reduced by the appellate assistant commissioner to rs. 32,277. even this addition was deleted by the tribunal which directed the acceptance of the .....

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Aug 08 1986 (HC)

Commissioner of Income-tax, Delhi-vi Vs. Union Agencies

Court : Delhi

Decided on : Aug-08-1986

Reported in : (1987)59CTR(Del)16; [1987]166ITR529(Delhi)

..... in law in holding that there was no justification for disallowing the payment in cash amounting to rs. 11,85,653 disallowed by the income-tax officer under section 40a(3) of the income-tax act, 1961?' 3. it was urged by learned counsel for the department that there was a clear question of law arising out of the ..... of fact and does not involve a question of law. as a matter of fact, section 40a(3) of the income-tax act, 1961, has been construed by a division bench of the gujarat high court in hasanand pinjomal v. cit : [1978]112itr134(guj) , stating that the rigour of the rule has to be relaxed in the circumstances of ..... kapur, c.j.1. these are two petitions under section 256(2) of the income-tax act, 1961, before us for the assessment years 1976-77 and 1978-79, concerning the same assessed, m/s. union agencies, new delhi. the appeal ..... difficulty to the payee, having regard to the nature of the transaction and the necessity for expeditious settlement thereof. and also furnishes evidence to the satisfaction of the income-tax officer as to the genuineness of the payment and the identity of the payee.' 8. it was notices in the order that actually m/s. om prakash ..... tribunal's order. but, equally, it was contended for the assessed that it was a pure question of fact. the tribunal has also refused to make a reference in its order under section 256(1) of the act .....

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Nov 11 1986 (HC)

Dr. R.P. Gupta Vs. Inspecting Assistant Commissioner of Income-tax (As ...

Court : Delhi

Decided on : Nov-11-1986

Reported in : (1987)60CTR(Del)91; [1987]168ITR33(Delhi)

..... )-iv, new delhi, is a brief one and is reproduced in its entirety below : 'the appeal is against the order under section 143(3) of the income-tax act, 1961. the appellant along with shri u. p. sharma appeared. the only ground is against the addition of rs. 82,246 in the trading account. as against the receipt shown ..... jagdish chandra, j.1. a complaint under sections 276c-277 of the income-tax act, 1961 (for short 'the act'), and under sections 193/196, ipc, was made by shri r. r.gupta, inspecting assistant commissioner of income-tax (assessment), range xiv, new delhi, against the present petitioner, dr. r. p. gupta, in respect of the assessment of the petitioner for the assessment year 1980-81 alleging ..... profit by the inspecting assistant commissioner who was directed to look into those documents and to formulate and calculate the income accordingly. this order of the commissioner of income-tax (appeals) appears to have been passed under section 251(1)(a) of the act which reads as follows : 'in an appeal against an order of assessment, he may confirm, reduce, enhance or annul the ..... to the order contemplated by subsection (4) of section 250 of the act which reads as follows : 'the appellate assistant commissioner or, as the case may be, the commissioner (appeals) may, before disposing of any appeal, make such further enquiry as he thinks fit, or may direct the income-tax officer to make further enquiry and report the result of the same to .....

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Nov 11 1986 (HC)

R.P. Gupta Vs. Commissioner of Income Tax

Court : Delhi

Decided on : Nov-11-1986

Reported in : 1987(1)Crimes564; ILR1986Delhi249

..... ) : iv, new delhi is a brief one and is reproduced in its entirety below :- 'theappeal is against the order u/s. 143(3) of the income tax act, 1961. the appellant along with shri u. p. sharma appeared. c ground is against the addition of rs. 82,246 in the trading account as against the receipt shown of ..... jagdish chandra, j. (1) a complaint under sections 276 to 277 of the income-tax act, 1961 (in short the act) and under sections 193/196 indian penal code was made by shri r. r. gupta inspecting assistant commissioner (hereinafter to be referred to as iac) of income-tax (assessment). range xiv, new delhi against the present petitioner dr. r. p. gupta in respect of the assessment ..... of the profit by the iac who was directed to look into those documents and to formulate and calculate the income accordingly. this order of the commissioner of income-tax (appeals) appears to have been passed under section 251(1)(a) of the act which reads as follows ;- 'c appeal against an order of assessment, he may confirm, reduce, enhance or annul the assessment ..... the order contemplated by sub-section (4) of section 250 of the act which reads as follows :- 'the appellate assistant commissioner or, as the case may be, the commissioner (appeals) may, before disposing of any appeal, make such further enquiry as he thinks fit, or may direct the income-tax officer to make further enquiry and report the result of the same to .....

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Mar 06 1986 (HC)

Commissioner of Income-tax Vs. PolyformalIn (P.) Ltd.

Court : Kerala

Decided on : Mar-06-1986

Reported in : (1987)60CTR(Ker)196; [1986]161ITR36(Ker)

..... tribunal, cochin bench, has referred the following questions to this court under section 256(1) of the income-tax act:'1. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that there was a capital element in the ..... .3. the assessee claimed deduction of the royalty of rs. 34,779 paid during the accounting period relevant to the assessment year 1976-77 as a revenue expenditure. the income-tax officer disallowed the claim for deduction holding that the expenditure was of a capital nature. in appeal, at the instance of the assessee, the appellate assistant commissioner allowed the ..... not accepted by the supreme court. the supreme court observed at page 43:'as observed by this court in the case of assam bengal cement co. ltd. v. commissioner of income-tax : [1955]27itr34(sc) , if the expenditure is made for acquiring or bringing into existence an asset or advantage for the enduring benefit of the business, it is properly ..... at page 12 :'now it is true that if disbursement is made for acquisition of a source of profit or income, it would ordinarily, in the absence of any other countervailing circumstances, be in the nature of capital expenditure.'8. in cit v. jacobs (p.) ltd. : [1979]120itr197(ker) , a division bench of this court had to consider the ..... assessee and against the revenue.12. a copy of this judgment under the seal of the court and the signature of the registrar will be forwarded to the income-tax appellate tribunal, cochin bench.

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