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Judgment Search Results Home > Cases Phrase: income tax act Year: 1993 Page 1 of about 3,298 results (0.174 seconds)

Jul 07 1993 (HC)

Tarajan Tea Co. Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

Decided on : Jul-07-1993

..... valid in law and on facts ? 2. whether, under the facts and in the circumstances of the case, the order dated march 19, 1979, passed by the income-tax officer under the provisions of the income-tax act, 1961, was not an order of assessment and the said order was only a draft order of assessment ? 3. whether, under the facts and in the circumstances ..... spontaneous growth was concerned ? (b) erroneous in so far as it is prejudicial to the interests of the revenue within the meaning of section 263 of the income-tax act, 1961. on account of non-inclusion of income attributable to the sale of trees of spontaneous growth 6. whether, under the facts and in the circumstances of the case, the order under appeal, directing ..... section 45 to be the subject of the charge. this inference flows from the general arrangement of the provisions in the income-tax act, where under each head of income the charging provision is accompanied by a set of provisions for computing the income subject to that charge. the character of the computation provisions in each case bears a relationship to the nature of the ..... giving effect to the directions issued by the inspecting assistant commissioner under section 144b of the act was an order of the income-tax officer or of the inspecting assistantcommissioner and whether the provisions of section 263 of the income-tax act are attracted to this non-inclusion of the aforesaid income in the said order dated september 11, 1979 ? 4. whether, under the facts and in .....

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Jan 14 1993 (HC)

Atul Drug House Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Jan-14-1993

Reported in : [1995]216ITR584(Bom)

..... that throughout the rectification proceedings the contention of the assessee has been that excess dividends have been declared and paid out of the profits exempted under section 80j of the income-tax act, 1961. this is referred to in the statement of the case also. hence, this contention of the department does not have any merit. 14. in the premises, we answer the ..... . the gujarat high court held that as there were no disputes regarding the figures and the calculations, this was a mistake which could be rectified under section 154 of the income-tax act, 1961. the same position is taken by the supreme court in the case of t. s. balaram, ito v. volkart brothers : [1971]82itr50(sc) . the supreme court, however, said that ..... rs. 3,90,000. there is also no dispute that this excess dividend is declared out of profits which are exempted under section 80j of the income-tax act, 1961. the only dispute is whether the additional income-tax is attracted in such a case. in this dispute, the contention of the assessee, in our view, is without any merit looking to the language of ..... of rs. 6,90,000 was out of profits which were exempted from tax under section 80j of the income-tax act, 1961, and hence no additional income-tax was leviable on the excess dividend declared by the assessee. the income-tax officer, however, in the rectification proceedings, brought the excess dividend to tax by levying additional income-tax at the rate of 7.5 per cent. amounting to rs. 29 .....

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Oct 07 1993 (HC)

Aditya Textile Industries P. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Oct-07-1993

Reported in : [1994]209ITR779(Bom)

..... d.r. dhanuka j.1. by this reference under section 66(1) of the indian income-tax act, 1922, the income-tax appellate tribunal has referred the following question to this court for opinion. 'whether, on the facts and the circumstances ..... messrs. devyani dyeing and printing works. it is not necessary to examine this contention. even if there was no fresh material before the income-tax officer, the income-tax officer could record a finding on the issue under consideration while finalising the assessment orders for the assessment years 1961-62 and 1962-63 ..... messrs. devyani dyeing and printing works was a genuine third party firm. being aggrieved by the said order, the income-tax officer filed a second appeal before the income-tax appellate tribunal. the income-tax appellate tribunal interpreted the earlier order of the tribunal concerning the assessment year 1960-61 and came to the conclusion ..... and heard learned counsel for the assessee at length. in our opinion, the tribunal was more than justified in reaching the conclusion that the income-tax officer was not precluded in law from recording a finding on the issue under consideration while dealing with the assessment proceedings for the assessment ..... proceedings for the assessment year 1960-61. 4. in the course of assessment proceedings for the assessment years 1961-62 and 1962-63, the income-tax officer examined the matter in greater detail and recorded a positive finding to the effect that the business carried on in the name of messrs .....

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Mar 01 1993 (HC)

Rajkot District Gopalak Co-operative Milk Producers' Union Ltd. Vs. Co ...

Court : Gujarat

Decided on : Mar-01-1993

Reported in : [1993]204ITR590(Guj)

..... .1. in this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following two questions to this court for its opinion : '1. whether, on the facts and in the circumstances of the case, the assessee was entitled to deduction of rs. 78,273 form its total income 2. whether, on the facts and in the circumstances ..... . 1,25,840 from the business of the dairy project, but filed a nil return in view of various deductions claimed by it. the income-tax officer did not accept all the claims for deduction and the assessable income was computed at rs. 94,000. the assessee preferred an appeal against the order. the appellate assistant commissioner found that the assessment was not ..... claimed deduction of rs. 78,273 paid by it to the gujarat government towards losses as per the terms and conditions of the leave licence agreement. the income-tax officer disallowed that claim treating that payment as the application of its income by the assessee and rejecting the contention that as the said contention that as the said payment amounted to diversion of ..... . therefore, this was a clear case of diversion of income by an overriding charge. he submitted that as held by this court in udayan chinubhai v. cit : [1978]111itr584(guj) income taxable under the income-tax, 1961, is the real income of the assessee. in determining real income, the question is not of any physical receipt of income but of the concept of the receipt in law as .....

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Jun 18 1993 (HC)

Commissioner of Income-tax Vs. Bennett Coleman and Co. Ltd.

Court : Mumbai

Decided on : Jun-18-1993

Reported in : [1996]217ITR216(Bom)

..... v.a. mohta, j. 1. under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following questions at the instance of the revenue : '1. whether, on the facts and in the circumstances of the ..... ) would be tantamount to a refusal by the income-tax officer so as to make such an order appealable to the appellate assistant commissioner for 1966-67 assessment year? 3. whether, on the facts and in ..... the submission of the return, for 1966-67 and 1967-68 assessment years? 2. whether tribunal was justified in holding that under rule 40(5) of the income-tax rules, 1962, the waiver of interest was justified and even if so, whether the refusal of the inspecting assistant commissioner to waive interest under rule 40(5 ..... to evaluate the perquisite of rent-free accommodation or accommodation at concessional rate as per rule 3 of the income-tax rules, 1962, for the purpose of disallowance under section 40(c)(iii) of the act for 1966-67 and 1967-68 assessment years? 4. whether, on the facts and in the circumstances of the case and ..... in law, the appellate tribunal was justified in directing the income-tax officer to allow depreciation of buildings and machineries with respect to the .....

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Oct 27 1993 (HC)

Transocean Shipping Agency Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Oct-27-1993

Reported in : [1994]207ITR469(Bom)

..... (1) of the income-tax act, 1961, made at the instance of the assessee, the income-tax appellate tribunal has referred the following question of law to this court for opinion : 'whether, on the facts and in the circumstances of the case, the interest of rs. 38,103 was the income of the assessee, ..... principals and that there was a vast difference between a mere obligation and a trust. the tribunal, therefore, confirmed the order of the income-tax officer and the commissioner of income-tax (appeals). hence this reference at the instance of the assessee. 8. we have heard learned counsel for the assessee, mr. soli ..... the same. there is nothing to show that this amount belonged to someone other than the assessee except the statement of the assessee before the income-tax officer that this interest was earned on money belonging to the ship-owners. 17. the controversy can be looked into from one more angle. ..... owner of the funds and not as agent of the shipping companies. from these facts and circumstances, more particularly the facts stated above, the income-tax officer did not find the explanation of the assessee a credible one. on a consideration of the totality of the facts and circumstances of the ..... s. s. r. this amount was transferred and credited by the assessee to 'freight interest payable account'. in pursuance of further enquiry by the income-tax officer, it was conceded by the representative of the assessee that though there were 13 shipping companies, all belonging to the u. s. s. r .....

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Mar 10 1993 (HC)

Commissioner of Income-tax Vs. Kar Valves Ltd.

Court : Kerala

Decided on : Mar-10-1993

Reported in : [1993]204ITR490(Ker)

..... documentation service' as specified in clause 3 of the agreement constituted 'book' and fell within the definition of 'plant' in section 43(3) of the income-tax act, 1961. it was observed that 'plant' was not necessarily confined to apparatus which was used for mechanical operations or processes. the test to be applied ..... is covered by question no. 2. it was thereafter that the two questions aforementioned were referred to this court under section 256(1) of the income-tax act.5. heard standing counsel for the revenue, sri p.k.r. menon, and sri c.m. devan for menon and pai for the respondent. ..... the tribunal was of the opinion that rs. 20,000 could be treated as referable to the business as well as the interest and dividend income. the income-tax officer was directed to allow a deduction of rs. 20,000. for the subsequent assessment year 1975-76, the balance amount of rs. ..... 25,215 was claimed as includible in the actual cost of the assets. the commissioner of income-tax (appeals) allowed this deduction. on further appeal, the tribunal declined to interfere holdingthat the assessee had actually capitalised the amount and included it in the ..... the tribunal confirmed the order of the commissioner (appeals). these facts cover questions nos. 1 and 2 proposed before the tribunal by the commissioner of income-tax. the said aspect is covered by question no. 1 referred to this court.3. for the assessment year 1975-76, the assessee claimed the entire .....

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Oct 26 1993 (HC)

Laljibhai Jivram Private Limited Vs. Commissioner of Income-tax and an ...

Court : Gujarat

Decided on : Oct-26-1993

Reported in : [1995]217ITR121(Guj)

..... , under article 226 of the constitution, the petitioner-assessee is challenging the order dated february 14, 1979, passed by the income-tax officer under section 215 of the income-tax act, 1961, and the order dated march 15, 1980, passed by the commissioner of income-tax in exercise of his revisional powers. 2. for the assessment year 1975-76, the petitioner submitted a return on july 31 ..... , 1975, declaring a total income of rs. 6,28,695 and a revised return on november 5, 1976, declaring a total income of rs. 6 ..... at annexure 'f', it becomes apparent that he proceeded on the basis that levy of interest when the advance tax paid by the assessee is less than 75 per cent, is mandatory under section 215 of the act. another reason given by the income-tax officer is that at the time of assessment, such interest was not levied through oversight. what is required to ..... be that in the case of waiver or reduction of interest on account of late payment of advance tax, they did not think it fit to impose a condition on the discretion or power of the income-tax officer. we cannot consider it as an act of omission on the part of the rule-making authority and add in rule 40 the requirement which .....

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Oct 12 1993 (HC)

Commissioner of Income-tax Vs. Fundilal Rikhabchand

Court : Rajasthan

Decided on : Oct-12-1993

Reported in : (1994)121CTR(Raj)176; [1994]208ITR348(Raj); 1993WLN(UC)287

..... has referred the following question of law arising out of its order dated july 8, 1983, in respect of the assessment year 1975-76 under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the tribunal is justified in holding that in the fresh assessment proceedings on the directions of the ..... appellate assistant commissioner, the income-tax officer had no jurisdiction to enhance the assessment ?' 2. an assessment under section 143(3) of the income-tax act was finalised by the income-tax officer on october 6, 1976. the income-tax officer observed that the assessee has built a house, in the construction of which a sum ..... of rs. 48,337 was spent. the income-tax officer, who deputed the inspector to make the enquiry with regard to the ..... he originally had in making an assessment under section 143 of the income-tax act, 1961, in respect of that point. if the appellate assistant commissioner sent the matter back to the income-tax officer without any restrictions, then no directions can be presumed or inferred on the powers of the income-tax officer when he proceeds to make the fresh assessment in substitution of .....

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Jul 15 1993 (HC)

S.A. Ahluwalia Vs. State of Nagaland and ors.

Court : Guwahati

Decided on : Jul-15-1993

..... returns. since the period in question clearly indicates that the petitioner was residing in nagaland as he was serving in nagaland, in terms of section 120 of the income-tax act only dimapur has jurisdiction in respect of the petitioner for the period in question. 10. as stated above the impugned orders/letters dated march 15, 1990, and september ..... jurisdiction of the petitioner from the income-tax officer, dimapur, to the assistant commissioner of income-tax (investigation) circle-8 (1), new delhi, for administrative ..... , 1985, the income-tax officer, dimapur, informed the petitioner that as desired by the petitioner in his letter dated february 27, 1982, the assessment record had not been sent to the income-tax officer, delhi. 5. the commissioner of income-tax, north eastern region, shillong, sent a statutory notice dated december 23, 1988, under section 127 of the income-tax act for transfer of ..... taken to the proposed transfer of jurisdiction. it was contended by the petitioner that in terms of section 127(2) of the act, the jurisdiction can be transferred only if the commissioner of income-tax at shillong and the concerned commissioner at delhi reached an agreement on the question that such transfer of jurisdiction was called for in .....

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