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Judgment Search Results Home > Cases Phrase: income tax act Year: 1999 Page 10 of about 3,945 results (0.120 seconds)

Sep 30 1999 (HC)

P.J. Eapen Vs. Commissioner of Income-tax

Court : Kerala

Decided on : Sep-30-1999

Reported in : [2000]241ITR572(Ker)

..... amendment was questioned on the ground that tax on capital gains is not a tax on 'income' within the meaning of entry 54 ..... that 'anything which can properly be described as income, is taxable under the act unless expressly exempted'. this court had to deal with the ambit of the expression 'income' in navinchandra mafatlal v. cit : [1954]26itr758(sc) . the indian income-tax and excess profits tax (amendment) act, 1947, had inserted section 12b of the indian income-tax act, 1922. section 12b imposed a tax on capital gains. the validity of the said ..... the assessee, the following question has been referred for opinion of the court by the income-tax appellate tribunal, cochin bench (in short 'the tribunal'), in terms of section 256(1) of the income-tax act, 1961 (in short 'the act') :'whether, the tribunal was correct in their finding that the rental income received by the appellant is assessable under the head 'other sources' ?'2. background of .....

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Jan 12 1999 (HC)

Commissioner of Income-tax Vs. Joseph Rajappan (Decd) (Through Legal H ...

Court : Kerala

Decided on : Jan-12-1999

Reported in : [1999]238ITR721(Ker)

..... is entitled to carry forward the business loss although the return was filed pursuant to the notice under section 148 of the income-tax act, 1961 ?'2. the facts, as found by the appellate tribunal, are that the assessee did not file a return under section 139(1) of ..... om prakash, c.j.1. in obedience to the direction of this court under section 256(2) of the income-tax act, 1961 (briefly, 'the act'), the income-tax appellate tribunal referred the following question, relating to the assessment year 1983-84, for the opinion of this court :'whether, on ..... pradesh high court in the case of co-op. marketing society ltd. : [1983]143itr99(mp) . respectfully following these decisions, we hold that the commissioner of income-tax (appeals) is fully justified in holding that the assessee is entitled to carry forward of business loss computed. we uphold his order. the departmental appeal is dismissed ..... to be carried forward for set off.3. aggrieved, the assessee preferred an appeal against the order of the assessing officer before the commissioner of income-tax (appeals), who passed a brief order as follows :'3. as for 1983-84, the assessment was reopened under section 147 but in terms of section ..... submission of learned senior standing counsel. this question came up for consideration before a full bench of the karnataka high court in kareemsons pvt. ltd. v. cit : [1992]198itr543(kar) . in this case, the full bench was concerned with the assessment year 1978-79. before the full bench, the assessee contended .....

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Feb 17 1999 (HC)

Commissioner of Income-tax Vs. Forbes Ewart and Figgis P. Ltd.

Court : Kerala

Decided on : Feb-17-1999

Reported in : [1999]238ITR762(Ker)

..... mixing rubber for others on job work basis with raw materials supplied by tyre manufacturers. the assessee claimed investment allowance under section 32a of the income-tax act, in respect of the abovementioned machinery. the assessing authority rejected the claim for the reason that since the assessee is using the machinery for ..... -85. following is the common question referred for the opinion of this court under section 256(2) of the income-tax act, 1961 :''whether, on the facts and in the circumstances of the case, the asses-see is entitled to investment allowance under section 32a of ..... the income-tax act, 1961 ?'2. the relevant facts are as follows : the assessee is a closely held company deriving income from its business as tea brokers. the assessee is also a partner in two firms, namely, ..... said that it was not entitled to get investment allowance. the commissioner of income-tax (appeals) further held that the assessee was manufacturing or producing a commercially different product, namely, masticated rubber and, therefore, it was engaged ..... entitled for any investment allowance on the plant and machinery installed in the rubber mixing mill. on appeal by the assessee, the commissioner of income-tax (appeals) took the view that merely because the assessee's plant and machinery were used for doing job works of others, it cannot be .....

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Jan 06 1999 (HC)

Commissioner of Income-tax Vs. Bharath Sea Foods

Court : Kerala

Decided on : Jan-06-1999

Reported in : [1999]237ITR46(Ker)

..... would also show that the dictum laid down in sterling foods' case : 1986(26)elt3(sc) , has no application to section 80j of the income-tax act. exemption under the section is intended to be an incentive to an assessee who owns a new industrial undertaking. we cannot also lose sight of the ..... same were not marketable--resulted in the bringing into existence of a new commercial product. moreover, in view of item 30 in schedule v of the income-tax act, 1961, which item covered processed (including frozen) fish and fish products, a person who owned machinery or plant engaged in the manufacture or production ..... 92) :'the second point that falls to be considered is whether the assessee is eligible for allowance under section 80j and section 32a of the income-tax act. in the case of the very same assessee the matter came up before us for the assessment years 1976-77 and 1978-79 at the ..... , which is carrying on the business of same nature, is entitled to claim deduction under section 80hh of the income-tax act ?'10. the relevant portion of sections 80j and 80hh of the income-tax act are extracted below :'80j. deduction in respect of profits and gains from newly established industrial undertakings or ships or ..... assessee-company, which is engaged in the business of catching, purchasing, processing and exporting fish, is entitled to claim deduction under section 80j of the income-tax act, 1961. in i.t.rs. nos. 3 and 4 of 1987, the issue is whether the assessee, which is carrying on the business of .....

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Dec 02 1999 (HC)

Rajendra Kumar JaIn Vs. Union of India

Court : Rajasthan

Decided on : Dec-02-1999

Reported in : [2000]245ITR574(Raj); 2000(3)WLC467; 2000(3)WLN510

..... jaipur wherein for the custody of rs. 5,12,800/- from his briefcase carried by him which amount was seized by the police officers u/s 132-a of the income tax act through panchnama and the panch-nama dated 19.6.1986 was prepared. the statement of shri k.k. dugar is said to have been recorded on the same day. it ..... which was being held by shri k.k. dugar on behalf of the petitioner firm. explanation of respondent no.6 was also asked as required u/s 127 of the income tax act by the respondent no.-4.(3). in view of the above-said circumstances the petitioner is said lo have made an application u/s 132 of the ..... seized and they are claimed by a third party, the income tax officer even at the time of issuing notice u/s 112-a would have to be satisfied as to the ..... the decisions in the case of gita devi dhurka vs. income tax officer & others (1), and k.a. karim & sons vs. income tax officer and others (2).(10). in the case of geeta devi dhurka (supra), it had been held that for the purpose of section 132(5) and section 132(11) of the income tax act in a case where during a search some materials arc .....

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Sep 24 1999 (HC)

Commissioner of Income-tax Vs. JaIn Construction Co. and ors.

Court : Rajasthan

Decided on : Sep-24-1999

Reported in : [2000]245ITR527(Raj)

..... decision of the tribunal.6. we have considered the rival contentions. section 260a is the substitute of the original section 10(4)(b) of the indian income-tax act, 1922. as the provision existed, in each case it was required to be determined whether payment made by way of interest salary, commission or remuneration by ..... in this group of applications :'(i) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in its interpretation of section 40(b) of the income-tax act and then holding that the claim of the assessee for interest on capital contribution by the partners and salary to ..... . the controversy has been settled by a recent decision of the apex court in uco bank v. cit : [1999]237itr889(sc) . it is held therein that the central board of direct taxes under section 119 of the income-tax act, 1961, has power, inter alia, to tone down the rigour of the law and ensure a ..... n.n. mathur, j.1. all these applications under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act of 1961'), which pertain to the assessment year 1993-94, have been filed at the instance of the revenue seeking mandamus to ..... provision. in view of the finding by a judgment dated august 30, 1996, the tribunal set aside the order of the commissioner of income-tax made under section 263 of the act of 1961. the revenue made an application before the tribunal seeking reference of the questions formulated for the opinion of this court. the .....

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Sep 15 1999 (HC)

E. Prahalatha Babu, 18, 14th Street, Nandanam Extension, Nandanam, Che ...

Court : Chennai

Decided on : Sep-15-1999

Reported in : 1999(3)CTC369; (1999)156CTR(Mad)436; [2000]241ITR457(Mad)

..... fully and truly all material facts necessary for his assessment or otherwise. then, notwithstanding anything contained in the income-tax act or in any finance act, income-tax shall be charged in respect of the income so declared (such income being hereinafter referred to as the voluntarily disclosed income) at the rates specified hereunder, namely: (i) in the case of a declarant, being a company or ..... has not been furnished before the commence-ment of this scheme; (ii) the income in respect of the previous year in which a search under section 132 of the income-tax act was initiated or requisitioned under section 132a of the income-tax act was made, or survey under section 133aof the income-tax act was carried out or in respect of any earlier previous year.' sub-clause ..... with the provisions of section 65 in respect of any income chargeable to tax under the income-tax act for any assessment year-- (a) for which he has failed to furnish a return under section 139 of the income-tax act; (b) which he has failed to disclose in a return of income furnished by him under the income-tax act before the date of commencement of this scheme: (c) ..... which has escaped assessment by reason of the omission or failure on the part of such person to make a return under the income-tax act or to to disclose .....

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Dec 21 1999 (HC)

C.A. Abraham and ors. Vs. Assistant Commissioner of Income-tax and ors ...

Court : Chennai

Decided on : Dec-21-1999

Reported in : [2002]255ITR540(Mad)

..... seeking a direction to the settlement commission to pass orders in accordance with chapter xiv-b of the income-tax act, 1961.3. in w. p. nos. 17150, 17151, 17160 and 18756 of 1999, the petitioners have challenged the order dated may 14, 1999, in which the settlement commission rejected the ..... may 14, 1999, the settlement commission rejected the applications filed by the assessees stating that the applications in effect seeking review of the order under section 245d(4) of the income-tax act cannot be entertained as the order passed under section 245d(4) has become final and conclusive as to the matters stated therein in view of section 245d(1) of the ..... as a result of our present order. there is no provision in this regard in chapter xix-a of the income-tax act. however, it is open to the above benami firms to file applications under section 264 of the income-tax act before the commissioner of income-tax requesting him to pass such order thereon not being an order prejudicial to the assessment, so that their assessed ..... income-tax act.2. the petitioners filed w. p. nos. 15853, 17462, 18472, 18558, 18751, 18757, 18764 and 18932 of 1999 challenging the order of the settlement commission dated december 21, 1998, and .....

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Nov 19 1999 (HC)

K. Inbasagaran Vs. Assistant Commissioner of Income-tax

Court : Chennai

Decided on : Nov-19-1999

Reported in : [2001]247ITR528(Mad)

..... offence. these offences are not one and the same. each failure is liable for punishment under section 276cc of the income-tax act. though the offences fall under the same section of the income-tax act, yet, they are not the same. they are not inter-related. they are distinct and specific. therefore, when ..... paragraph of the judgment runs thus :'hence, for the reasons stated above, the accused is found guilty under section 276cc (three counts) of the income-tax act. the accused, was asked under section 248(2) of the criminal procedure code to state in respect of the sentence that would be passed against him. the ..... spite of repeated statutory notices and, therefore, he has committed specific offences and is liable to be proceeded for each offence under section 276cc of the income-tax act, 1961.24. in fact, the three complaints were taken on file by the magistrate and assigned three different case numbers, viz., ccs. they were ..... of section 139 and by the notice issued under sections 142(1) and 148 and thereby committed an offence punishable under section 276cc of the income-tax act, 1961, and within my cognizance.'19. thus, a single charge is framed in respect of three distinct and different offences. the charge reads that ..... d-1 to d-3. the learned additional chief metropolitan magistrate, e. o. ii, found the accused guilty under section 276cc of the income-tax act on three counts and sentenced him to undergo rigorous imprisonment for a period of three months and to pay a fine of rs. 1,000 .....

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Sep 30 1999 (HC)

J. Jayalalitha Vs. Commissioner of Income-tax and ors.

Court : Chennai

Decided on : Sep-30-1999

Reported in : (2000)158CTR(Mad)149; [2000]244ITR74(Mad)

..... .22. in iv. subhakaran v, cit : [1992]198itr720(ker) , the kerala high court laid down the following proposition (headnote) :'the commissioner of income-tax exercises discretionary power when passing' an order under section 273a of the income-tax act, 1961, on an application for waiver of interest. the order should ex facie disclose the application ..... being heard by the board before the petition was disposed of by the board.21. in mahalakskmi rice mills v. cit : [1981]129itr53(kar) , the karnataka high court has held that the word, 'co-operation' in section 273a of the income-tax act would mean that the assessee did not resort to litigation, obstruction or evasive tactics in concluding the assessment and no more ..... the act for the assessment years 1987-88 to 1992-93 were rejected.2. the facts leading ..... /c-ii, dated october 15, 1997, passed by the commissioner of income-tax, central ii, chennai-34, by which the petitions filed by the writ petitioner under section 220(2a) of the income-tax act, 1961 (hereinafter to be referred to as 'the act'), for waiver of interest levied under section 220(2) of the act as well as under rule 5 of the second schedule to .....

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