Court : Guwahati
Decided on : Dec-10-1999
..... the tribunal that the order of assessment was passed only on march 30, 1988, and not beyond the normal period of limitation prescribed under section 153(l)(a) of the income-tax act is based on any evidence and/or material on record relevant to the assessment order passed in the case of the assessee and/or is perverse and unsustainable in law ..... can fix a notional interest as due, or collected by the assessee. our attention has not been invited to any provision of the income-tax act empowering the income-tax authorities to include in the income, interest which was not due or not collected. in this view, we answer question no. (ii) in the negative, that is, in favour of the assessee and against the revenue ..... passed on march 28, 1988, by the assessing officer inthe assessment records reversing the decision of the commissioner of income-tax (appeals) holding that the said order of assessment was passed beyond the normal period of limitation prescribed under section 153(1) of the income-tax act, expiring on march 31, 1988 2. whether, on the facts and in the circumstances of the case, the ..... p.g. agarwal, j. 1. in this case, the following seven references were made under section 256(2) of the income-tax act, 1961 (for short 'the act'): '1. whether, on the facts and in the circumstances of the case and on the materials on record the tribunal was justified in law in holding that the order of .....Tag this Judgment!
Court : Guwahati
Decided on : Apr-01-1999
..... . this writ petition has been filed by the petitioners for setting aside/quashing the warrant of authorisation dated september 17, 1998, under section 132a(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), including the panchanama prepared by the respondent-revenue authority and also for a direction to release rs. 50,00,000 (rupees fifty lakhs) and other documents requisitioned ..... any other law for the time being in force, or ... (c) any assets represent either wholly or partly income or property which has not been, or would not have been, disclosed for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act by any person from whose possession or control such assets have been taken into custody by any officer ..... summons under sub-section (1) of section 37 of the indian income-tax act, 1922 (11 of 1922), or under sub-section (1) of section 131 of this act or a notice under sub-section (4) of section 22 of the indian income-tax act, 1922, or under sub-section (1) of section 142 of this act was issued to produce, or cause to be produced, any books ..... has not been or would not have been disclosed for the purpose of the income-tax act, 1961, and that on the basis of this, the commissioner of income-tax, guwahati has directed to issue warrants under section 132a(1) of the act to requisition the said amount from the officer-in-charge of the police station. mr, joshi in support of his submission relied on .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-04-1999
Reported in : 240ITR654(Bom); 2000(2)MhLj111
..... ranjana desai, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion, at the instance of the assessee :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that the expenditure incurred on asphalting ..... allowed depreciation at the rate of 5 per cent. he rejected the claim for deduction as revenue expenditure.3. the assessee filed an appeal before the commissioner of income-tax (appeals). the commissioner of income-tax (appeals) held that the assessee had constructed new roads where nothing existed before. therefore, a new asset came into being in the form of pucca roads. he held ..... after these repairs, after every three years the repairs will have to be carried out because these roads do not last for a long time. the inspecting assistant commissioner of income-tax held that the assessee had substantially renovated the roads and hence the expenditure can be classified as a capital expenditure. according to him, the life of these roads would be ..... . the assessee had spent an amount of rs. 10,00,000 on the repairs of the road in the factory premises. it was submitted before the inspecting assistant commissioner of income-tax, pune, that the roads within the factory premises were kaccha roads and the assessee had spent the amount of rs. 10,00,000 for converting them into tar roads. it .....Tag this Judgment!
Court : Karnataka
Decided on : Dec-07-1999
Reported in : 242ITR703(KAR); 242ITR703(Karn)
..... (page 458) :'it is plain that when the assessee is a trust entitled to benefit under section 11 of the income-tax act, the only question that arises for consideration is whether that income or the accumulated income thereof is applied for charitable purpose. if investments have been made in the construction of a building which in turn would augment its ..... income-tax (appeals), the department appealed before the income-tax appellate tribunal.3. the controversy in the present matter is covered by the decision given in itrc nos ..... assessing officer did not treat the repayment of loan taken by the assessee for the purpose of construction of a commercial complex as income applied for charitable purposes. in an appeal filed by the assessee, the deputy commissioner of income-tax (appeals) directed the assessing officer to allow the assessee's claim. against the order of the deputy commissioner of ..... . 100-102 of 1993, dated august 9, 1995 (cit v. janmabhumi press trust : 242itr457(kar) ) wherein it was observed .....Tag this Judgment!
Court : Kerala
Decided on : Aug-20-1999
Reported in : 242ITR429(Ker)
..... consideration in the above case before the supreme court was whether the assessee was entitled to weighted deduction under section 35b(1)(b)(iv) of the income tax act, 1961, in respect of commission payments made to agents outside india. on analysing the provisions of section 35b(1)(b)(iv), the supreme court ..... is engaged in cultivating, processing and selling tea. it claimed a sum of rs. 4,27,256 as a deduction under section 35b of the income-tax act, 1961, for the assessment year 1983-84. the contention raised by the assessee was that it is entitled to deduction under section 35b on selling ..... an agency outside india. there was also no consideration of the claim for weighted deduction in respect of warehousing charges under rule 6aa of the income-tax rules, 1962.12. according to us, without factual findings on these aspects, it may not be proper for this court to give its opinion ..... assessee regarding warehousing charges should have been considered by the tribunal under section 35b(1)(b)(ix) read with rule 6aa(b) of the income-tax rules, 1962. in view of the provisions contained under sub clause (ix) expenditure incurred wholly and exclusively on such other activities for the ..... no agent who can bind the principal by acts done on behalf of the principal. therefore, the abovementioned expenses would not fall under the purview of section 35b. the claim for weighted deduction was thus rejected. on appeal, the commissioner of income-tax (appeals) took the view that selling commission .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-31-1999
Reported in : 239ITR312(Bom)
..... b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, at the instance of the revenue, 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 ..... the relevant accounting period, the liability did not accrue or arise during the year under consideration.3. the assessee appealed to the commissioner of income-tax (appeals). the commissioner of income-tax (appeals) held that the agreement did not become effective in the relevant previous year in the absence of the approval of the central ..... under consideration. so far as the controversy in regard to the nature of the expenditure is concerned, the tribunal remanded the matter to the commissioner of income-tax (appeals) for deciding afresh on the merits whether the expenditure was capital or revenue. the revenue is aggrieved by the finding of the tribunal that ..... that count itself, the claim of the assessee for deduction was not allowable. in view of the above finding, the commissioner of income-tax (appeals) did not consider whether the expenditure in question was capital or revenue expenditure.4. the assessee went in further appeal to the ..... income-tax appellate tribunal ('the tribunal'). so far as the accrual of the liability is concerned, the tribunal held that the approval of the .....Tag this Judgment!
Court : Allahabad
Decided on : Sep-24-1999
Reported in : 248ITR445(All); 117TAXMAN780(All)
..... the draft assessment as aforesaid, does not curtail the assessee's right of appeal as available under section 246(1) or (2) of the income-tax act. that being the position we remit the matter to the commissioner (appeals) for fresh decision according to law. we make it clear that by the ..... no right of appeal and the tribunal having upset that view, its order setting aside the appellate order and remanding the appeal to the commissioner of income-tax (appeals) for fresh disposal was proper. in any case that view is not challenged in this reference. 6. further, the case was remanded ..... commissioner mentioned 'even otherwise the assessee has not raised any concrete argument nor furnished any material to show how and why the total income computed by the income-tax officer is not correct or that the addition made by him is not genuine.' we are of the view that the failure on ..... faulty and confused manner. next, the commissioner took the view that as the assessee had, on receipt of a draft assessment order from the income-tax officer under section 144b(1), failed to submit objections within the time allowed by law and that as consequently, the assessment in questionhad been finalised ..... 72 : 'whether, on the facts and in the circumstances of the case, the tribunal was legally correct in remitting the matter to the commissioner of income-tax (appeals) for deciding the appeal afresh after giving the assessee an opportunity of being heard ?' 2. we have heard sri prakash krishna, learned standing .....Tag this Judgment!
Court : Delhi
Decided on : May-11-1999
Reported in : 80(1999)DLT318
..... 18/19.12.1996 and the petitioner was granted time up to 30.6.1997 in terms of section 80hhc(2)(a) of the income tax act, 1961. 4. petitioner firm could realise only part of the amount up to 30.6.1997 and the balance outstanding of sterling pounds ..... this writ petition seeking setting aside of the order dated 28.5.1998, passed by the commissioner of income tax, rejecting petitioner's application dated 26.3.1998 for extension of time under section 80hhc(2)(a) of the income tax act, 1961. 3. petitioner firm, an exporter of readyment garments, had exported goods to m/s. ..... view of the decision of this court in civil writ petition no.1689/93, titled vikram overseas pvt. ltd. v. commissioner of income tax did not dispute that the commissioner of income tax has the power and jurisdiction to grant extension of time under section 80hhc(2)(a) with retrospective effect. 7. we find from ..... been made out for the same. 5. the main factor which weighed with the commissioner of income tax was that the assessed did not bother to file the application for further extension of time for a period of nearly nine months, i.e. ..... entire outstanding amount had been realised and deposited in the bank and formal extension of time, be granted to the petitioner. the learned commissioner of income tax passed the impugned order, rejecting the application dated 26.3.1998, holding that the assessee did not deserve any further extension so no sufficient cause had .....Tag this Judgment!
Court : Chennai
Decided on : Dec-13-1999
Reported in : 243ITR565(Mad)
..... direction of this court in t. c. p. nos. 309 to 318 of 1986, dated november 12, 1986, made under section 256(2) of the income-tax act, 1961 (hereinafter to be referred to as 'the act'), the income-tax appellate tribunal (hereinafter to be referred to as 'the tribunal'), has stated a case in t. c. nos. 935 to 944 of 1988 and referred the ..... that limited companies who carry on business are separate taxable persons, and the profits and gains of their several businesses are separate profits and gains for the purposes of the income-tax acts. this is none the less true if one of the companies should be the parent company, and the other or others may be its subsidiaries of which the shares are ..... ) , learned counsel for the assessee submitted that before the income-tax officer ..... ' as it is a specific head of income under section 56 of the act.20. realising the difficulty, learned counsel for the assessee submitted that the business of the assessee itself is the holding of the investment in subsidiary companies. in this connection, he relied upon the decision of this court in the case of cit v. amalgamations (p.) ltd. : 108itr895(mad .....Tag this Judgment!
Court : Guwahati
Decided on : May-14-1999
..... high court by making the following observations (head-note) : 'the words 'technical or professional qualifications' occurring in the first part of the proviso to section 64(1)(ii) of the income-tax act, 1961, do not necessarily relate to the technical or professional qualifications acquired by obtaining a certificate, diploma or a degree or in any other form, from a recognised body like ..... (headnote) : 'the context in which the crucial words 'technical or professional qualifications' or 'technical or professional knowledge or experience occur in the proviso to section 64(1)(ii) of the income-tax act, 1961, show that they do not refer to a degree or diploma of a university or other similar institution. that this was not the intention of the legislature is clear ..... . m. l. saha in the light of the provisions of section 64(1)(ii) of the income-tax act, 1961 (for short, 'the act'). the assessing officer held that the income declared by the assessee deserved to be clubbed with the income of her husband. on appeal the commissioner of income-tax (appeals) reversed the order of the assessing officer. the order of the appellate authority was confirmed ..... has substantial interest is not includible in the assessment of the assessee under section 64(1)(ii) of the act ? 2. whether, on the facts and in the circumstances of the case, and on a correct interpretation of section 27 of the income-tax act, 1961, the asses-see could not be deemed to be the owner of the house property which was transferred .....Tag this Judgment!