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Judgment Search Results Home > Cases Phrase: income tax act Year: 1994 Page 1 of about 2,508 results (0.096 seconds)

Nov 18 1994 (HC)

Indian Builders Vs. Commissioner of Income-tax and ors.

Court : Patna

Decided on : Nov-18-1994

..... assessment of net profit was also in order. the tribunal, however, held that disallowance of depreciation was not in order because allowance of depreciation under section 32 of the income-tax act is mandatory and was not a matter dependent on the genuineness of the books of account. the tribunal directed the revised return to be accepted. the appeal was allowed in ..... completely ignored. the assessee, however, did not dispute the defect in maintenance of accounts. but it was submitted that the accounts have been statutorily audited under section 44ab of the income-tax act. in the previous year, depreciation had been allowed. the tribunal noticed that the assessee in the first instance filed a return showing a loss of rs. 6,18,581 but ..... and impermissible so long as the appeal was sub judice before the tribunal and, consequently, the allegations in the complaint constitute no offence under sections 276c and 277 of the income-tax act. 4. the tribunal disposed of the appeal by order dated december 15, 1993 (annexure 10). the appeal was partly allowed. the supreme court in uttam chand v. ito : [1982] ..... tribunal and that appeal was pending before the tribunal. a complaint was filed against the petitioner for prosecution for having committed offences under sections 276c and 277 of the income-tax act. the complaint was filed in the court of special judicial magistrate (economic offences), jamshedpur. the gravamen of the accusation in the complaint petition is as follows : 'that the accused .....

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Mar 03 1994 (HC)

Commissioner of Income-tax Vs. Swastik Industries

Court : Patna

Decided on : Mar-03-1994

..... shall be signed by the persons concerned in accordance with sub-rule (5) of rule 22.' 5. under the proviso to section 184(7) of the income-tax act, the firm should, before the specified time, furnish a declaration satisfying section 184(7), proviso, clause (i), in the prescribed form and verified in the ..... that registration be allowed to continue to the assessee-firm for the assessment year 1975-76 in view of the declaration under section 184(7) of the income-tax act, 1961 ?' 2. we heard counsel for the revenue and also counsel for the respon-dent-assessee. the entire matter is in a very narrow compass ..... this court. 4. for understanding the scope of the controversy, it is sufficient if we refer to section 184(7) of the income-tax act, read with rules 22(5) and 24 of the income-tax rules, 1962, which are as follows : 'section 184. (7) where registration is granted or is deemed to have been granted ..... had signed the declaration. this fact is not disputed. we are of the view that the appellate tribunal was justified in holding that the commissioner of income-tax (appeals) took a reasonable view of the matter and was justified in law in ordering continuance of the registration for the year 1975-76. the ..... during the relevant accounting period that ended on march 31, 1975, did not sign the declaration in form no. 12. in appeal, the commissioner of income-tax (appeals) held that the declaration in form no. 12 needed to be made only by the partners who constituted the firm on the date of making .....

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Nov 16 1994 (HC)

Commissioner of Income-tax Vs. Arvindkumar Odhavji

Court : Mumbai

Decided on : Nov-16-1994

Reported in : [1995]213ITR551(Bom)

..... as a result of activities carried on by the assessee is business income or rental income depends upon the manner of exploitation of the asset by the assessee. 6. the income-tax is only one tax, levied on the sum total of the income classified and chargeable under the various heads. section 14 of the income-tax act, 1961, classifies profits and gains under different heads according to the ..... house property'.' 9. it has been pointed out by the division bench that the heads of income enumerated in section 14 of the income-tax act, 1961, are mutually exclusive and each specific head covers items of income arising from the specific source. income derived as rent from property must be computed under the specific head regardless of the fact that property had at one time ..... decision of the supreme court in east india housing and land development trust ltd. v. cit : [1961]42itr49(sc) , in that case, the supreme court has taken that if the income from a source falls within a specific head set out in section 6 of the indian income-tax act, 1922, the fact that it may indirectly be covered by another head will not make ..... the income taxable under the latter head. 10. even in the case of baijnath brijmohan and sons .....

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Nov 24 1994 (HC)

Commissioner of Income-tax Vs. Moolsingh Karsondas

Court : Mumbai

Decided on : Nov-24-1994

Reported in : [1996]217ITR486(Bom)

..... , an individual, was a partner in the firm of tulsidas khimji (for short, 'the said firm') which was a registered firm under the provisions of the income-tax act, 1961. the assessee and his brother one shantu are the sons of the late shri karsondas, who died on february 17, 1972, and was having 16 per ..... s.m. jhunjhunuwala, j.1. by this reference made under section 256(1) of the income-tax act, 1961, the following question has been referred at the instance of the revenue for the opinion of this court : 'whether, on the ..... aggrieved by the said order of the appellate assistant commissioner, both the assessee and the income-tax officer preferred appeals to the income-tax appellate tribunal, bombay. according to the income-tax officer, the appellate assistant commissioner was not justified in directing the income-tax officer to allow the deduction of 10 per cent. out of the said 32 per cent ..... 25, 1972. in our this view of the matter, we are supported by the decision of this bench in the case of cit v. shri and smt. ganesh g. k. azrenkar : [1996]217itr148(bom) (income-tax reference no. 256 of 1983, decided on november 11, 1994). 8. the question, therefore, is answered in the negative, ..... in respect of the remaining 10 per cent. share only. the said claim of the assessee was rejected by the income-tax officer who held that the entire share of profit was to be taxed in the hands of the assessee as an individual. the appellate assistant commissioner in appeal preferred by the assessee directed .....

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Mar 16 1994 (HC)

Godavari Sugar Mills Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Mar-16-1994

Reported in : (1994)120CTR(Bom)176; [1994]208ITR801(Bom)

..... dr. b.p. saraf, j.1. by this reference under section 256(1) of income-tax act, 1961, the income-tax appellate tribunal has referred four questions of law to this court for opinion - three at the instance of the assessee, one at ..... actually worked double shift.depreciation allowance x --------------------------------------`normal number of workingdays in theprevious year'.'8. there is no dispute that the calculation made by the income-tax officer is in accordance with the above circular. the only grievance of the assessee is that one of its factories having worked for the normal number ..... one concern and one of them having worked for the requisite number of days which entitles it to get full extra-shift depreciation allowance, the income-tax officer should have allowed the claim in respect of the other factory also without determining the number of days on which it had worked. in ..... 20, 1973, having regard to the number of days during which the said factory actually worked double shift. the order of the income-tax officer was confirmed by the commissioner of income-tax as well as by the tribunal. hence, this reference at the instance of the assessee. 4. the contention of the assessee ..... allowed as deduction to the company under section 40(c) of the act 2. whether, on the facts and in the circumstances of the case and in law, the tribunal was justified in reversing the decision of the commissioner of income-tax (appeals) allowing deduction of rs. 80,301 being gratuity liability and .....

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Mar 22 1994 (HC)

Smt. Panna Devi Chowdhary (Legal Representative of Saligram B. Choudha ...

Court : Mumbai

Decided on : Mar-22-1994

Reported in : [1994]208ITR849(Bom)

..... . 13. the controversy can be looked at from another angle also. the income-tax act imposes a liability to tax upon income. it does not provide that whatever is received by a person can be regarded as his income liable to tax. in all cases in which a receipt is sought to be taxed as income, the burden lies on the department to prove that it is within the ..... . yafi and sons as claimed by him. the tribunal, therefore, confirmed the addition of rs. 4,00,000 to the income of the assessee as his income from undisclosed sources. the assessee applied for reference under section 66(1) of the indian income-tax act, 1922, which was rejected by the tribunal. the application of the assessee to the high court under section 66(2 ..... income of the assessee was unreasonable or perverse or not sustainable in law on the material before the tribunal ?' 2. this reference pertains ..... compliance with the order of the supreme court dated january 21, 1980, in civil appeal no. 168 (nt) of 1980, the income-tax appellate tribunal has referred the following of law to this court for opinion under section 66(2) of the indian income-tax act, 1922 ('the act') : 'whether the finding of the tribunal that the sum of rs. 4,00,000 was the assessable .....

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Apr 15 1994 (HC)

Commissioner of Income-tax Vs. G.K. Kabra

Court : Andhra Pradesh

Decided on : Apr-15-1994

Reported in : [1995]211ITR336(AP)

..... afforded with an opportunity was itself erroneous in law and had to be referred to this court for adjudication. 4. a perusal of the provisions of section 263 of the income-tax act shows that the commissioner may, if he considers that any order passed therein by the assessing officer is erroneous in so far as it is prejudicial to the interests of ..... year 1983-84 corresponding to the previous year ending on march 31, 1983, accepted the return showing only profit under section 41(1) of the act in respect of that business. subsequently, the commissioner of income-tax issued show-cause notice dated february 16, 1988, to the assessee under section 263 asking him to show cause as to why capital gains arising from ..... tribunal declined to refer the same to this court as they are only questions of fact. 3. the commissioner of income-tax had set aside the assessment order by his order dated march 30, 1988, passed under section 263 of the act directing the income-tax officer to redo the assessment after giving adequate opportunity to the assessee. therefore, learned counsel for the revenue submitted ..... commissioner held that completion of the assessment overlooking this point was erroneous and prejudicial to the interests of the revenue. he, therefore, set aside the assessment order and directed the income-tax officer to redo the assessment after giving adequate opportunity to the assessee. the assessee carried the matter in appeal to the appellate tribunal. the tribunal found that while the notice .....

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Dec 29 1994 (HC)

Commissioner of Income-tax Vs. K.C.P. Limited

Court : Andhra Pradesh

Decided on : Dec-29-1994

Reported in : [1995]216ITR602(AP)

avinash somakant bhate, j.1. this reference under section 256(1) of the income-tax act, 1961 (for short 'the act'), is made by the income tax tribunal on the motion of the revenue. the question of law on which answer is sought is as follows : 'whether, on the facts ..... and in the circumstances of the case, the appellate tribunal is right in law in upholding the order of the commissioner of income-tax deleting rs. ..... the excess amount subject of supply of bank guarantee as per the order of the court. the income-tax officer treated the said amount as part of the trading receipt of the company for that year. the commissioner of income-tax, however, held in the appeal that the sum of rs. 14,96,130, could not be ..... brought to tax. the appeal to that extent succeeded. the departmental appeal before the tribunal met with the same treatment ..... it dear that if the assessee received the amount on refund in any subsequent year then it would be added as his income. 11. the last case relied upon was jonnalla narasimharao and co. v. cit : [1993]200itr588(sc) . this case instead of supporting the contention of the assessee that the amount collected cannot be .....

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Dec 22 1994 (HC)

Perala Govinda Rajulu and ors. Vs. Chief Commissioner of Income-tax an ...

Court : Andhra Pradesh

Decided on : Dec-22-1994

Reported in : [1995]214ITR8(AP)

..... 1. under challenge in this writ petition is an order passed by the commissioner of income-tax, visakhapatnam, in reference no. headquarters no. ia/8 of 1990-91, dated february 15, 1991, under section 220(2a) of the income-tax act, 1961, by which the claims of the petitioners for waiver of interest charged under section ..... dated july 28, 1989, calling upon the petitioners to pay interest under section 220, sub-section (2) of the act. the petitioners made a representation to the commissioner of income-tax seeking waiver of the interest but the same was rejected by the impugned order. 2. under section 220(1) within thirty ..... one other factor which goes to show that all the facts relevant for the determination of the issue were not before the commissioner of income-tax when the impugned order was passed : one of the reasons for negativing the request for waiver of interest is that none of the ..... any of the petitioners-partners'. the commissioner observed that the seizure of jewellery and bullion in the course of the search conducted by the income-tax officials could not be considered to be a reason causing genuine hardship to the assessees because 'the extra liabilities on account of interest under ..... the premises of the firm, messrs. perala govinda rajulu and sons as well as the residential premises of the partners, were searched by the income-tax officials in october, 1884, as a result of which several assets of the partnership firm were seized. within fifteen days from the date of .....

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Apr 29 1994 (HC)

Commissioner of Income-tax Vs. Hazari Lal Marwaha and Sons

Court : Delhi

Decided on : Apr-29-1994

Reported in : [1994]210ITR860(Delhi)

..... supreme court decision in t. n. k. govindaraju chetty v. cit : [1967]66itr465(sc) to hold that the interest earned by the assessed was not liable to tax. 3. an application under section 256(1) of the income-tax act, 1961, has been rejected by the income-tax appellate tribunal holding that the answer to the question was self-evident ..... 2) of the income-tax act, 1961, has been filed for direction to the income-tax appellate tribunal to draw up a statement of the facts of the case and to refer the following question of law for the opinion of this court : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is ..... and refer the following question for the opinion of this court : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in holding that the amount of rs. 7,59,748 be treated as a capital receipt ?' ..... would not arise unless the findings of fact were disturbed, is not available for reference. placing reliance on mathura prasad v. cit : [1966]60itr428(sc) , it was submitted that the question which was concluded by the judgment of the supreme court could not be referred to the high ..... lite and so the interest awarded by him must be held to be ex gratia. he also relied upon the decision in patnaik and co. ltd. v. cit : [1986]161itr365(sc) to submit that if the findings of fact recorded by the tribunal were not open to challenge, a question of law, which .....

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