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Judgment Search Results Home > Cases Phrase: income tax act Year: 1988 Page 8 of about 1,685 results (0.081 seconds)

Feb 04 1988 (HC)

Bakelite Hylam Ltd. Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Feb-04-1988

Reported in : (1988)72CTR(AP)137; [1988]171ITR344(AP)

..... y.v. anjaneyulu, j.1. this is a reference made by the income-tax appellate tribunal under section 256(1) of the income-tax act, for the assessment year 1971-72, at the instance of the assessee. the question referred is : 'whether, on the facts and in ..... of interest payable on belated refund under section 244. there is total omission on the part of the income-tax officer to grant interest on refund. the income-tax officer insisted that, in terms of section 244 of the act, the assessee is not entitled to interest. there is thus total denial of the liability by the ..... . an order of assessment is one in which there is computation of income or computation of tax or both. that computation of income and tax can be made by the income-tax officer not only in regular assessment made under section 143 of the act but also in orders passed from time to time giving effect to the ..... giving n effect to the appellate order of the tribunal. in any event, no right of appeal is provided against the income-tax officer's omission to grant refund under section 244 of the act. 3. the assessee filed an appeal before the tribunal questioning the correctness of the view taken by the commissioner (appeals ..... assessee referred an appeal against the so-called modification order. in the appeal filed, the assessee claimed that the income-tax officer was in error in omitting to grant interest under section 244 of the act. it may be pointed out that whatever refund is due and is not granted within the time allowed, the .....

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Aug 23 1988 (HC)

C.V. Ramana Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Aug-23-1988

Reported in : [1990]181ITR248(AP)

..... same or any person in possession of any money, bullion, jewellery or other valuable article or thing representing either wholly or partly income or property which has not been, or would not be, disclosed for the purposes of the income-tax act, is authorised to enter and search any building or place where he has reason to believe the books of account or documents ..... . m. suryanarayana murthy, learned counsel for the revenue, argues that the mode of recovery contemplated under section 226 of the income-tax act is not the only mode to recover the tax; it is only one of the several modes contemplated by the act. so far as the factual situation is concerned, learned counsel says that the petitioners had taken back 86 promissory notes and ..... . 1699 of 1971, on the file of this court questioning the constitutionality of section 132(5) of the income-tax act. that writ petition was dismissed by this court upholding the validity of section 132(5) of the act and also the search conducted by the income-tax departmental officials and the consequent seizure of the account books and the promissory notes. thereafter, two suits were ..... made by counsel for both sides, the relevant statutory provisions may be read. 5. section 132 of the income-tax act deals with search and seizure. if the director-general or the chief commissioner or the deputy commissioner, as empowered by the board of direct taxes, has reason to believe in consequence of information in his possession, that any person to whom a summons .....

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Feb 25 1988 (HC)

Commissioner of Income-tax Vs. C. Subramanyam

Court : Andhra Pradesh

Decided on : Feb-25-1988

Reported in : [1989]175ITR48(AP)

..... of the probate proceedings in the civil court, a certain error was discovered in the estate duty assessment made and section 61 of the estate duty act, 1953 (which corresponds to section 154 of the income-tax act), was invoked and the error rectified. the revenue contended that on a perusal of the it was clear that there was an apparent error in the ..... section 154 cannot be invoked to include the income of the spouse in the hands of the assessee under section 64 of the income-tax act for the assessment years 1973-74 and 1974-75 ?' 3. the assessee and his wife constituted ..... , j. 1. this reference by the income-tax appellate tribunal, under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), relates to the income-tax assessment years 1973-74 and 1974-75. 2. the question referred for the consideration of this court is : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is justified in holding that ..... it was nest urged that in any event there was no patent mistake apparent from the assessee's record and, consequently, the provisions of section 154 of the act are inapplicable. the income-tax officer rejected both the contentions. the matter was carried in appeal by the assessee. the appellate assistant commissioner rejected the assessee's appeals and confirmed the orders of .....

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Aug 05 1988 (HC)

Commissioner of Income-tax Vs. Chitra Kalpa

Court : Andhra Pradesh

Decided on : Aug-05-1988

Reported in : [1989]177ITR540(AP)

..... referred in favour of the assessee. y.v. anjaneyulu, j. 2. at the instance of the commissioner of income-tax, the income-tax appellate tribunal made this reference to this court under section 256(1) of the income-tax act, 1962 (for short the 'act'), this reference relates to the income-tax assessment year 1972-73 and the question referred for the consideration of this court is: 'whether, on the ..... producers to produce films in this state that the incentive of subsidy of rs. 50,000 is offered. could it be said, on these facts, that the subsidy granted is income liable to tax under the income-tax act the first impression itself is in the negative because it a producer has to pay 50% or more by way of ..... opposite conclusion and held that the subsidy is not in the nature of income and cannot, therefore, be assessed to tax under the act. the commissioner of income-tax applied for and obtained the present reference to this court for consideration of the question referred above. 4. learned standing counsel for the income-tax department, sri. m suryanarayana murthy, submits that this question is squarely covered against ..... tax from out of the subsidy, there is hardly any inducement and it frustrates the very purpose for which the subsidy is granted. the small moiety left out of the subsidy after the payment of tax can hardly .....

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Jun 27 1988 (HC)

Commissioner of Income-tax Vs. D.B.R. Mills Ltd.

Court : Andhra Pradesh

Decided on : Jun-27-1988

Reported in : (1988)72CTR(AP)148; [1988]174ITR442(AP)

..... tribunal, hyderabad, has stated the following question for our opinion under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in ..... liabilities do not constitute expenditure and cannot be the subject-matter of deduction even under the mercantile system of accounting. expenditure which was deductible for income-tax purposes is towards a liability actually existing at the time but setting apart money which might become expenditure on the happening of an event is not ..... the year by virtue of the approval granted by the commissioner of income-tax to the gratuity fund; it is true that the assessee has not made a provision in its books, but since the law does not provide ..... rejected both under section 40a(7) as well as section 36(1)(v). on appeal, the appellate assistant commissioner agreed with the reasoning of the income-tax officer and dismissed the appeal. on further appeal, however, the tribunal took a different view. it held that the liability towards gratuity has crystallized during ..... assessee created a trust for gratuity fund for the benefit of employees on november 26, 1975, and applied for recognition which was granted by the commissioner of income-tax, andhra pradesh, on march 25, 1976, with effect from december 1, 1975. the assessee also got its actuarial liability determined through an actuary, sri. .....

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Mar 22 1988 (HC)

Commissioner of Income-tax Vs. Dredging Corporation of India

Court : Andhra Pradesh

Decided on : Mar-22-1988

Reported in : [1988]174ITR682(AP)

..... occurring in section 2(31) is a very crucial definition because it is with reference to the categories of entities specified in section 2(31) that the liability to tax under the income-tax act is determined. if a person is not capable of being considered as a person within the meaning of section 2(31), then no liability attaches. if the state or ..... if any particular entity cannot strictly fall 9. within the meaning of the expression 'person' occurring in section 2(31), then no liability attaches to that entity to pay tax under the income-tax act. now, learned standing counsel for the revenue invites our attention to sub-clause (vii) of section 2(31) which makes every artificial juridical person, not falling within any of ..... 612 is misplaced. that was a case where the controversy centred round rule 11 (2) of the rules applicable to cases i and 11 of schedule d of the english income-tax act, 1918, which provided that whenever any person succeeds to any trade which, until that time, was carried on by another person, the liability attaches to the person succeeding to ..... y.v. anjaneyulu, j. . at the instance of the commissioner of income-tax, the income-tax appellate tribunal, hyderabad bench, made this reference under section 256(1) of the income-tax act, 1961 (the 'act' for short). the reference relates to the income-tax assessment year 1977-78 and the assessee is the dredging corporation of india ltd., visakhapatnam, which is a wholly owned government of india undertaking. the questions .....

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Apr 22 1988 (HC)

Commissioner of Income-tax Vs. Hyderabad Asbestos Cement Products Ltd.

Court : Andhra Pradesh

Decided on : Apr-22-1988

Reported in : (1988)71CTR(AP)22; [1988]172ITR762(AP)

..... . this is a reference under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), in connection with the income-tax assessment year 1976-77. the reference is made by the income-tax appellate tribunal at the instance of the commissioner of income-tax. the question referred for the consideration of this court is set ..... 2 and 3 of the notification dated october 21, 1965, and hold that in accordance with section 36(1)(iv) of the act and rule 88 of the income-tax rules, the assessee is entitled to claim deduction of the entire sum of rs. 2,59,451 contributed to the approved superannuation ..... contribution and any other contributions to an approved superannuation fund by an employer. rules 87 and 88 of the income-tax rules, 1962, are prescribed in pursuance of section 36(1)(iv) of the act. for convenient reference, these rules are reproduced below : '87. ordinary annual contribution. - the ordinary annual ..... rs. 41,512 arrived at on the basis of notification no. so 3433 dated october 21, 1965, of the central board of direct taxes. the income-tax officer accepted the claim for deduction of the sum of rs. 41,512 and completed the assessment. at that stage, the assessee seems to ..... . 41,512 out of rs. 2,59,451 being the initial contribution made by the assessee towards the approved superannuation fund. the commissioner of income-tax (appeals) permitted the assessee to raise the ground for the first time in the appeal, dealt with the matter but rejected the assessee's .....

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Feb 11 1988 (HC)

Commissioner of Income-tax Vs. Hyderabad Secunderabad Foodgrains Assoc ...

Court : Andhra Pradesh

Decided on : Feb-11-1988

Reported in : (1989)75CTR(AP)91; [1989]175ITR574(AP)

..... and in the circumstances of the case, the appellate tribunal was justified in holding that the commissioner of income-tax (appeals) erred in directing the income-tax officer to recompute the income under section 11, subject to the conditions under sections 12, 12a and 13 of the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, under the powers ..... vested in the first appellate authority under the income-tax act, the commissioner of income-tax (appeals) could not have given such directions, irrespective of the orders of his predecessor (3) whether, on the facts and in the circumstances of the case, the tribunal was ..... assessment years 1974-75, 1975-76 and 1976-77. the income-tax officer rejected the assessee's claim that it is a public charitable institution and, therefore, held ..... issues raised by the assessee in respect of the jurisdiction of the income-tax officer to make the assessment in question ?' 2. the questions relate to the assessment year 1977-78. the question whether the assessee is a public charitable institution and, therefore, its income is exempt under section 11 of the income-tax act, 1961, it appears, came up for consideration first for the .....

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Mar 03 1988 (HC)

Commissioner of Income-tax Vs. Mohd. Yakoob

Court : Andhra Pradesh

Decided on : Mar-03-1988

Reported in : [1988]174ITR29(AP)

..... affirmed the cancellation of the penalties by the earlier bench. in these circumstances, the commissioner asked for a reference under section 256(1) of the income-tax act, 1961, and that is how the matter is laid before us. 5. we have heard learned standing counsel for the revenue who had put forth ..... court is as under : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is justified in law in cancelling the penalty levied under section 271(1)(c) of the income-tax act, 1961 ?' 2. the assessee was a dealer in iron and steel scrap. it is stated that ..... he had voluntarily made an application for settlement of his tax liability in view of certain assets acquired by him and also by his wife. the income-tax officer found that, during ..... , the assessee would accept a settlement. learned counsel was at pains to submit that the entire matter was dealt with by the assessee's income-tax practitioner who did not look into the matter with care and caution and dealt with the settlement proceedings casually without keeping in mind the interests of ..... they were spread over a period of twelve years during which the assessee was carrying on the business. the matter was discussed before the commissioner of income-tax on may 24, 1975, and the minutes of the discussion were drawn up on that day. according to the minutes, unaccounted assets were ascertained at .....

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Feb 01 1988 (HC)

Commissioner of Income-tax Vs. Palakol Co-operative Agricultural and I ...

Court : Andhra Pradesh

Decided on : Feb-01-1988

Reported in : [1988]171ITR607(AP)

..... y.v. anjaneyulu, j.1. this is a reference arising under the income-tax act, 1961, relating to the assessment year 1974-75. the reference is at the instance of the commissioner of income-tax and the income-tax appellate tribunal referred the following question : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is correct in law in holding that the amount ..... income for the assessment year under consideration. the income-tax officer was of the view that the assessee was following the mercantile system of accounting and in view of the entires made in the accounts and also ..... the said satyanarayanamurthy for recovery of the shortfall in the sale consideration amounting to rs. 1,07,469 by way of damages. on these facts the question arose before the income-tax officer whether the assessee was entitled to claim the shortfall of rs. 1,07,467 which did not respect sale proceeds and consequently could not enter into its ..... of secunderabad on account of sale of free market sugar stock of 3,564 bags did not represent the assessee's income for the assessment year 1974-75 ?' 2. we may mention, for the sake of completeness, that the commissioner of income-tax sought reference of one more question but that was rejected by the tribunal. 3. as far as the question referred .....

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