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Judgment Search Results Home > Cases Phrase: income tax act Year: 1999 Page 4 of about 3,945 results (0.108 seconds)

Jul 20 1999 (HC)

Commissioner of Income Tax, Bombay Vs. Smt. Prabhavati D. Mehta

Court : Mumbai

Decided on : Jul-20-1999

Reported in : 2000(3)BomCR133; [1999]240ITR447(Bom); 1999(3)MhLj527

..... orderdr. 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 question of law to this court for opinion at the instance of the revenue :'whether on the facts and in the circumstances of the ..... for the payment of the same had been issued by the municipal corporation and received by the assessee in the previous year relevant to the assessment year under consideration. the income-tax officer did not allow the deduction on the ground that the demand did not related the previous year relevant to the assessment year under consideration. aggrieved by the order of ..... the income-tax officer, the assessee appealed to the appellate assistant commissioner of income-tax. before the appellate assistant commissioner, it was contended by the assessee that though the municipal taxes related to earlier years, the liability on account thereof accrued in the relevant previous year on receipt ..... commissioner was rejected by the income-tax appellate tribunal ('tribunal'). hence this reference at the instance of the revenue. 3. we have heard the learned counsel for the revenue mr. r.v. desai. there is no dispute about the fact that in determining the annual value of any property for the purposes of section 22 of the act, municipal taxes levied in respect of .....

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Feb 10 1999 (HC)

Commissioner of Income-tax Vs. Trustees of the Trust for Relatives of ...

Court : Mumbai

Decided on : Feb-10-1999

Reported in : [1999]240ITR12(Bom)

..... in not a discretionary trust and consequently the provisions of section 164(1) of the income-tax act, 1961, are not applicable ?'2. the assessee claimed before the income-tax officer that section 164(1) of the income-tax act, 1961 ('the act'), was not applicable in the case of the assessee-trust. the income-tax officer did not agree with the claim of the assessee. being aggrieved, the assessee ..... tribunal has referred the following question of law for the opinion of this court for the assessment year 1978-79 under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, and having regard to the terms of the trust deed dated may 5, 1973, the tribunal was ..... carried the matter before the commissioner of income-tax (appeals), who allowed the claim of the assessee. the ..... commissioner of income-tax (appeals) found that the trust was created .....

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Aug 31 1999 (HC)

Sable Waghire Trust and anr. Vs. S.R. Achyuta Rao and anr.

Court : Mumbai

Decided on : Aug-31-1999

Reported in : 1999(4)ALLMR625; (2000)158CTR(Bom)55; [1999]240ITR688(Bom)

..... court in madhya pradesh industries ltd. v. ito : [1965]57itr637(sc) . that was a case under section 34 of the indian income-tax act, 1922 (corresponding to section 148 of the income tax act, 1961). the notice was challenged by the assessee before the high court by filing writ petition. the high court dismissed the writ petition ..... limine. the supreme court held that where, upon the issue of a notice under section 34 of the indian income-tax act, 1922, a claim was made in a writ petition that the income-tax officer had no power to issue the notice and that the power was exercised not for any legitimate purpose for ..... d.k. deshmukh, j. 1. by this writ petition, the petitioners challenge the notice issued by the income-tax officer under section 148 of the income-tax act, 1961 ('the act'). rule was issued in this case on november 20, 1990, and by an interim order, further proceedings pursuant to the said notice were ..... otherwise. 8. situated thus, we are left with no option but to quash and set aside the impugned notice issued by the income-tax officer under section 148 of the act and make the rule absolute in the terms of prayer clause (a) of the petition. 9. the writ petition is disposed of ..... on being prima facie satisfied that if the averments of the petitioners in the writ petition challenging the jurisdiction of the income-tax officer are accepted, the notice under section 148 of the act may not be tenable. about ten years have passed since the rule is issued. the matter is on board .....

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Jun 09 1999 (HC)

Commissioner of Income-tax Vs. Mrs. J.R. Lalwani

Court : Mumbai

Decided on : Jun-09-1999

Reported in : [1999]240ITR750(Bom)

..... 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 of the case, share income in the name of smt. jasotiben ramchand lalwani from ..... representative of the hindu undivided family comprising her two sons and herself.6. an identical controversy came up for consideration before this court in income-tax reference no. 395 of 1987--cit v. s. r. kirloskar (india). in that case, this court, summed up the legal position emerging from the decision of the ..... income-tax officer was also confirmed by the income-tax appellate tribunal. the order of the tribunal was not challenged and thus that decision attained finality. despite that, in the appeal ..... of herself and her two sons and not in her hands in her individual capacity. though this claim was accepted by the income-tax officer in theoriginal assessment, it was rejected in reassessment for the assessment years 1968-69 to 1974-75. on appeal by the assessee, the ..... and not a hindu undivided family. the answer, in our opinion, in no uncertain terms, is in the negative. the income-tax officer rightly rejected the claim of the assessee by reopening the assessments for the assessment years 1968-69 to 1974-75 which order of the .....

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Jul 13 1999 (HC)

Commissioner of Income-tax Vs. Hindustan Conductors Pvt. Ltd.

Court : Mumbai

Decided on : Jul-13-1999

Reported in : [1999]240ITR762(Bom)

..... dr. 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 question of law to this court for opinion :''whether, on the facts and in the circumstances of ..... in reversing the same.11. we have also given our careful consideration to the submission of mr. mehta that the income tax officer has no power under section 36(1)(iii) of the act to examine the reasonableness of the rate of interest paid by the assessee on borrowings and to disallow any part of ..... as interest on borrowings. we find it difficult to accept the above contention because, in our opinion, the income tax officer is undoubtedly entitled, while considering the claim for deduction under section 36(1)(iii) of the act to examine whether the amount paid as interest is really 'interest' and if he finds that it is ..... the assessments for the assessment years under reference were reopened under section 147(a) of the act. as in the assessment for the assessment year 1975-76, in reassessment orders made for these three assessment years, the income-tax officer allowed deduction of finance charges calculated at the rate of 15 percent. per annum as interest ..... this case that what is allowable as a deduction under section 36(1)(iii) of the act is any sum paid by way of interest in the commercial sense. this determination has to be done by the income-tax officer having regard to the facts and circumstances of each case. there can be no straitjacket .....

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Aug 03 1999 (HC)

Commissioner of Income-tax Vs. Smt. Mandakini M. Jog

Court : Mumbai

Decided on : Aug-03-1999

Reported in : [2000]241ITR6(Bom)

..... the facts and circumstances of the case and in law, the tribunal was right in holding that the assessee was entitled to deduction under section 80l of the income-tax act in respect of the interest income on fixed deposits with banks included in the assessee's share of profit derived by the assessee from the firm of v. m. jog and co., pune ..... profits as well as proportionate share of interest income. in respect of the proportionate share of interest income, the assessee claimed deduction under section 80l of the income-tax act ('the act'), for the assessment years 1976-77 and 1978-79. 3. the income-tax officer disallowed the said claim. on appeal by the assessee, the appellate assistant commissioner of income-tax allowed the said deduction following the judgment of ..... the allahabad high court in cit v. brij raman das : [1979]118itr397(all) . 4. the revenue carried appeals .....

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Aug 30 1999 (HC)

K. Sudhakar S. Shanbhag Vs. Income-tax Officer

Court : Mumbai

Decided on : Aug-30-1999

Reported in : 2000(1)ALLMR188; [2000]241ITR865(Bom)

..... different high courts on the subject. the supreme court considered the decisions of the various high courts which had held that once valid proceedings under section 147 of the income-tax act are started, the income-tax officer has the jurisdiction and duty to complete the whole assessment de novo. the supreme court considered the observations in its earlier decision in v. jaganmohan rao v ..... years 1987-88 and 1988-89 on the basis of the returns submitted by him pursuant to the notices under section 148 of the income-tax act, 1961 ('the act'), and to refund the amount paid by him as advance tax which, according to him, is in excess of the amount due as per the returns submitted pursuant to the said notices. the contention of ..... the returns the petitioner claimed assessment at a figure lesser than the one disclosed by him for the purpose of advance tax, which by virtue of section 219 is treated as tax paid on the income of that year. section 219 of the income-tax act reads as follows :'any sum, other than a penalty or interest paid by or recovered from an assessee as advance ..... reopened by issuance of a notice under sub-section (2) of section 22 of the indian income-tax act, 1922 (corresponding to section 148 of the act), the previous under assessment is set aside and the income-tax officer has the jurisdiction and duty to levy tax on the entire income that had escaped assessment during the previous year. the supreme court observed that an order made in .....

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Apr 06 1999 (HC)

Commissioner of Income-tax Vs. I.A. and I.C. Pvt. Ltd.

Court : Mumbai

Decided on : Apr-06-1999

Reported in : [1999]239ITR1(Bom)

..... provision of remuneration and perquisite to the employee-director of the company is to be computed under the provisions of section 40(c) and not section 40a(5) of the income-tax act, 1961 ?' this reference pertains to the assessment year 1980-81.2. so far as the controversy in question no. 2 is concerned, learned counsel for the parties are agreed that ..... for higher investment allowance even though the mandatory condition that the required certificate from the prescribed authority should be furnished along with the return of income, as laid down in section 32a(2b)(ii) of the income-tax act, 1961, had not been fulfilled ? 2. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding ..... 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 questions of law to this court for opinion at the instance of the revenue :'1. whether, on the facts and in the circumstances of ..... for issuance of the necessary certificate. later, on receipt of the certificate, the assessee furnished the same to the income-tax officer in the course of assessment proceedings. the income-tax officer, however, held that since clause (ii) of section 32a(2b) of the act required the assessee to furnish the certificate along with the return, the requirement of that clause was not fulfilled and .....

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Jun 15 1999 (HC)

Commissioner of Income-tax Vs. Sharda Sugar Industries Ltd.

Court : Mumbai

Decided on : Jun-15-1999

Reported in : (1999)157CTR(Bom)151; [1999]239ITR393(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 of the case, the income-tax appellate tribunal has rightly held that the amounts of rs. 6,36,683 ..... and assessed the same in the hands of the assessee in the assessments for those years. the assessee appealed to the commissioner of income-tax (appeals) against the above orders. the commissioner of income-tax (appeals), following the decision of the income-tax appellate tribunal ('the tribunal') in the case of hindustan sugar mills ltd. for the assessment year 1973-74 wherein the tribunal had held ..... that such amount was not income of the assessee, deleted the additions made by the income-tax officer. the appeals of the revenue against the above order were dismissed by the tribunal. hence, this reference.3. we have heard ms. vasanti patel ..... with the fund and the amount in question continued to remain with the assessee. in the assessment of the assessee for the assessment years 1975-76 and 1976-77, the income-tax officer treated the amount of excess collection made by the assessee during the previous years relevant to the above assessment years as .....

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Mar 20 1999 (HC)

Commissioner of Income-tax Vs. Shetkari Sahakari Sakhar Karkhana Ltd.

Court : Mumbai

Decided on : Mar-20-1999

Reported in : [1999]238ITR983(Bom); 2000(4)MhLj65

..... exemption under section 80p(2)(a)(iv) of the income-tax act, 1961, in respect of the income of rs. 5,51,651 from the lift irrigation scheme ?'2. the assessee is a co-operative society engaged ..... a profit of rs. 5,51,651 from the activity of providing water to its members through the lift irrigation scheme. the assessee claimed deduction in respect of the above income under section 80p(2)(a)(iv) of the income-tax act, 1961 ('the act'). the case of the assessee was that it had purchased water from the state government on payment of water ..... price of the same. he submits that the case of the assessee is squarely covered by the provisions of section 80p(2)(a)(iv) of the act and hence the income in question is exempt from income-tax under the said provision.4. we have carefully considered the rival submissions in the light of the uncontroverted facts of the case. the assessee is a ..... 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 revenue :'whether, on the facts and in the circumstances of the case, the tribunal is justified in upholding the decision of the commissioner of income-tax (appeals) that the assessee was entitled to .....

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