Court : Mumbai
Decided on : Jun-28-1999
Reported in : 239ITR499(Bom)
..... the case, the assessee is entitled to development rebate under section 33(1)(b)(b)(i)(b) of the income-tax act, 1961, so that the orders under section 263 of the income-tax act, 1961, passed by the commissioner of income-tax deserved to be cancelled ? at the instance of the assessee : (2) whether, on the facts and in ..... b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following two questions of law to this court for opinion, both at the instance of the revenue ..... the circumstances of the case and in law, the commissioner of income-tax bombay city vi, bombay, was right in exercising ..... cent. according to him, the assessee was entitled to development rebate, only at the rate of 15 per cent. the commissioner of income-tax was of the opinion that the income-tax officer had not applied his mind to the question of the rate of development rebate applicable to computer system in this case. he, ..... therefore, initiated proceedings for suo motu revision and after hearing the assessee, directed the income-tax officer to modify his order by allowing development rebate at 15 per cent, as against 25 per cent, allowed by him. this order was passed by .....Tag this Judgment!
Court : Mumbai
Decided on : Jul-14-1999
Reported in : 239ITR543(Bom)
..... of rs. 8,72,270 had been adjusted against the cost of specific assets and, therefore, in terms of the provisions of section 43(1) of the income-tax act, the actual cost of the asset would stand reduced by the amount of subsidy.5. in appeal carried by the assessee against the said order, the ..... of actual cost upon receipt of central subsidy of rs. 8,72,270.4. action under section 263 of the income-tax act, 1961, was initiated for the assessment year 1979-80 as the assessment order made by the first income-tax officer, margao, was found to be erroneous in so far as, it was prejudicial to the interests of the ..... machinery for the allowance of depreciation and dismissed the appeal.8. on reference made to the high court under section 256(1) of the income-tax act, 1961, the high court took a resume of the relevant case law. the high court relied upon the decision of the supreme court in ..... ranjana desai, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred thefollowing question of law to this court for opinion at the instance of the revenue :'whether, on the facts and in the ..... from the cost of the plant and machinery for the purpose of determining actual cost for allowance of depreciation. the revenue appealed against the said order to the income-tax appellate tribunal. the tribunal held that the subsidies granted on the fixed capital investment of the assessee were not deductible in computing the cost of plant and .....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 : Madhya Pradesh
Decided on : Oct-06-1999
Reported in : 250ITR629(MP)
..... his income as a contractor. he claims that the amounts of rs. 75 ..... 4) of the chief commissioner of income-tax which has been communicated to the petitioner by letter dated february 20, 1997 of the commissioner of income-tax, jabalpur, by which the application for condonation of delay in claiming the refund of income-tax under section 119(2)(b) of the income-tax act, 1961, has been rejected.2. the petitioner is a contractor. income-tax has been deducted at source from ..... 14, 1997, that 'after careful consideration the board has rejected the request of shri dharam pal singh pall for condonation of delay'. it is argued that the amount of income-tax recovered from the petitioner cannot be retained by the respondents if it was not legally payable even if the claim for the refund is delayed. he relied upon the circular ..... to him. he has filed the returns in the year 1996. he applied for condonation of delay. that application has been rejected by respondent no. 1--central board of direct taxes, new delhi, as communicated to the petitioner by the impugned orders. notices have been served on the respondents. their standing counsel took time to file the return but it .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Feb-05-1999
Reported in : AIR1998SC868; (1999)152CTR(SC)383; 236ITR480(SC); JT1999(1)SC300; 1999(1)SCALE307; (1999)2SCC758; 1SCR454
..... of a division bench of the high court at delhi. the question is whether the additional period of 180 days given by explanation 1(iv) of section 153 of the income tax act, 1961, is available when the assessment or reassessment is made under section 147.2. we are concerned with assessments/reassessments made under section 147. in one set of appeals ..... works pvt. ltd. : 198itr297(sc) , it was held :as a result of the aforesaid discussion, we find that, in proceedings under section 147 of the act, the income tax officer may bring to charge items of income which had escaped assessment other than or in addition to that item or items which have led to the issuance of the notice under section 148 ..... an incongruity. the reopening of an already completed assessment for the reason that the income tax officer has reason to believe that income chargeable to tax has escaped assessment is a serious matter. the act requires the income tax officer to record his reasons for issuing a notice under section 148. the act also requires that such notice shall not be issued unless the higher authorities mentioned in ..... reads thus :144b. reference to inspecting assistant commissioner in certain case. - (1) notwithstanding anything contained in this act, where, in an assessment to be made under sub-section (3) of section 143, the income-tax officer proposes to make any variation in the income or loss returned which is prejudicial to the assessee and the amount of such variation exceeds the amount fixed .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Mar-18-1999
Reported in : AIR1999SC1264; 237ITR41(SC); JT1999(2)SC328; 1999(2)SCALE160; (1999)3SCC596; 2SCR10
..... against the judgment in hyderabad asbestos cement products ltd. was dismissed on a technical ground, we have heard these appeals on their merits.6. section 36(1)(iv) of the income tax act deals with deductions on account of contributions to recognised provident funds and approved superannuation funds. section 36(1)(iv) reads thus : section 36(1) the deductions provided for in the ..... the purposes of deduction of certain contributions :in exercise of the powers conferred by clause (iv) of sub-section (1) of section 36 of the income tax act, 1961 (43 of 1961), the central board of direct taxes hereby specified the following conditions for the deduction of contributions, not being annual contributions of fixed amounts or annual contributions fixed on some definite basis by ..... the past five years it was an aggregated amount of rs. 2,14,785, calculated on the basis of 25% of the employees' dues on account of past service. the income tax officer allowed the deduction only to the extent of 80% of the aggregate contribution and spread it out over a period of five years. for so doing, he relied upon ..... we are concerned with reads thus :whether on the facts and in the circumstances of the case, the appellate tribunal was justified in confirming the order of the commissioner of income-tax (appeals) that the entire initial contribution made to the superannuation fund is allowable deduction.2. the high court declined to call for its reference and the revenue is in appeal .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Jan-12-1999
Reported in : (2000)162CTR(SC)178; 243ITR855(SC); JT1999(10)SC561; (1999)9SCC116
..... no. 30 of 1973(1) whether on the facts and in the circumstances of the case, the levy of penalty under section 271(1)(c) of the income tax act, 1961 was justified.(2) if the answer to the aforesaid question is in the affirmative, whether on the facts and in the circumstances of the case, while ..... arise upon the judgment dated 29-5-1985 of the delhi high court answering two sets of references made to it under section 256(2) of the income tax act, 1961 against the revenue. both sets of questions relate to assessment year 1962-63. the first set of questions relate to the assessee's quantum appeals; ..... disallowance of a portion of the purchase price?2. it is patent from the questions in the quantum appeal that they are questions of fact. the income tax appellate tribunal is the final fact-finding authority and it has decided against the assessee. the high court ought not to have entered into a discussion of ..... to justify the finding that the payment of rs. 41,039.67/- made to surjit singh, sham singh and rajinder singh was the assessee's income and was rightly taxed as such in its hands?(3) whether there was any evidence before the tribunal to justify the finding that the sum of rs. 3,78,329 ..... levying penalty, the tax sought to be evaded is to be calculated by including in the income returned, the amounts shown in part f of the return?(3) whether on the facts and in the circumstances of the .....Tag this Judgment!
Court : Delhi
Decided on : Jul-29-1999
Reported in : 1999VAD(Delhi)36; 80(1999)DLT798; 1999(50)DRJ736; 239ITR237(Delhi)
..... , j.1.at the instance of the revenue, in respect of assessment year 1972-73, the following question has been referred by the income tax appellate tribunal, delhi bench, under section 256(1) of the income tax act, 1961 (for short 'the act'), for the opinion of this court : 'whether on the facts and in the circumstances of the case, the tribunal was right in law ..... bring into existence any a set or advantage of enduring nature to the assessed and, thereforee, such expenditure could not be treated as capital expenditure. accordingly, the tribunal directed the income tax officer to allow the admission fee paid as revenue expenditure. this decision of the tribunal has given rise to the question referred for opinion. 4. we have heard learned counsel ..... , endorsed the view taken by the income tax officer. the matter was carried by the assessed in further appeal to the tribunal. the tribunal was, however, of the view that the initial payment itself did not ensure any ..... ground that this gave the assessed an asset or advantage of an enduring nature. being aggrieved by the said disallowance, the assessed preferred appeal to the appellate assistant commissioner of income tax. the learned appellate assistant commissioner, while observing that the said fee was paid once for all for the advantage that the company derives by becoming a member of that organisation .....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 : Kerala
Decided on : Nov-19-1999
Reported in : 248ITR597(Ker)
..... to the direction given by this court in o. p. no. 3020 of 1993, the following questions have been referred for opinion under section 256(2) of the income-tax act, 1961 (in short 'the act') :'1. whether, on the facts and in the circumstances of the case, the appellate tribunal is right in coming to the conclusion that the debit of rs. 52 ..... note of certain factual aspects highlighted by the assessee. the tribunal has noticed that in or around october, 1985, the assessee submitted a proposal before the commissioner of income-tax for declaration of higher income under the amnesty scheme for a total amount of rs. 60 lakhs and pleaded for its consideration for the assessment years 1983-84 to 1987-88. pursuant to ..... not exist in any other form with the firm or with partners either in the form of cash or other assets except in the form of stock. the commissioner of income-tax (appeals) maintained the additions holding that there was no material to show that the closing stock declared was inclusive of the unaccounted stock of the earlier years and there was ..... was limited from the assessment year 1984-85 onwards. when the assessment for the assessment year 1984-85 was taken out by the inspecting assistant commis-sioner of income-tax (assessment), the assesses specifically stated that the declared income was in the form of stock. a copy of the letter is annexure-f in the paper book and under the heading 'disclosure of .....Tag this Judgment!