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Judgment Search Results Home > Cases Phrase: income tax act Year: 1999 Page 9 of about 3,945 results (0.096 seconds)

Dec 18 1999 (HC)

Commissioner of Income-tax Vs. Kishorekumar Shamji

Court : Kerala

Decided on : Dec-18-1999

Reported in : (2000)161CTR(Ker)225; [2000]244ITR702(Ker)

..... by this court in original petition no. 7516 of 1985, the following questions have been referred by the income-tax appellate tribunal, cochin bench (in short, 'the tribunal'), at the instance of the revenue, 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, and particularly in the light ..... were found out during the reassessment proceedings. there was no challenge to the order of reassessment. the income-tax officer initiated proceedings for imposition of penalty under section 271(1)(c) of the act. the assessee pleaded that there was no concealment. but the income-tax officer imposed a minimum penalty of rs. 4,00,652, which was confirmed in appeal by the ..... the inspecting assistant commissioner.explanation i.--where in respect of any facts material to the computation of the total income of any person under this act,-- (a) such person fails to offer an explanation or offers an explanation which is found by the income-tax officer or the appellate assistant commissioner to be false, or (b) such person offers an explanation which he ..... commissioner of income-tax (appeals) (in short, 'the cit(a)'). the matter was carried by the assessee in appeal before the tribunal. .....

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Nov 12 1999 (HC)

Commissioner of Income-tax Vs. Amy Colabawala

Court : Kerala

Decided on : Nov-12-1999

Reported in : [2000]243ITR19(Ker)

..... arjit pasayat, c.j. 1. accepting the prayer for reference under section 256(1) of the income-tax act, 1961 (in short 'the act'), the following questions have been referred for opinion of this court by the income-tax appellate tribunal, cochin bench, cochin (in short 'the tribunal') :'1. whether, on the facts and in the circumstances of the case, the tribunal is right in ..... : gool c. dalai and perin c. dalai, two sisters, were co-owners of an agricultural estate which was sold resulting in realisation of some surplus. such surplus was taxed by the income-tax authorities in the hands of an association of persons (in short 'aops'), styled as 'gool c. dalai and perin c. dalai'. when the matter was finally adjudicated by ..... be construed as a direction within the meaning given to that expression under section 150(2) of the act. such submissions were rejected by the assessing officer. the matter was carried in appeal before the deputy commissioner of income-tax (appeals), calicut (in short 'deputy cit (a)'), without success. but in the second appeal, the tribunal accepted the stand with the following observations ..... :'the pre-requisites for treating such income as income of that party are : (a) that there must be a finding of the appellate .....

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Oct 29 1999 (HC)

Mathai Mappila and Tom Cyriac Vs. Commissioner of Income-tax

Court : Kerala

Decided on : Oct-29-1999

Reported in : [2000]243ITR326(Ker)

..... , though they relate to different assessment years in respect of four assessees. the common question referred for the opinion of this court under section 256(1) of the income-tax act, 1961 (in short 'the act') is as follows : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in upholding the imposition of penalty under section ..... in relying on the marginal notes of section 273 for confirming the levy of penalty under section 273(2)(c) of the income-tax act, 1961, for the assessment year 1985-86 and under section 275(1)(b) of the said act for the assessment years 1987-88 and 1988-89?' 3. after having' heard learned counsel for the parties, we reframe the questions ..... with a similar question relating to scope of section 273(2)(c), it was observed by the gujarat high court in cit v. b.p. mehta : [1993]199itr654(guj) as follows (headnote) : 'the language of section 273(2)(c) of the income-tax act, 1961, is very clear and what is stipulated is that, on the failure of an assessee to furnish an estimate ..... 273(1)(b) of the income-tax act where the assessee having filed the estimate of advance tax payable by him before the due date but failed to remit the advance tax in accordance with the estimate ?' 2. it is to be noted that income-tax references nos. 91, 92, 94 and 95 of 1997 relate to the above .....

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Nov 19 1999 (HC)

Commissioner of Income-tax Vs. Kesaria Tea Co. Ltd.

Court : Kerala

Decided on : Nov-19-1999

Reported in : (2000)161CTR(Ker)149; [2000]243ITR362(Ker)

..... arijit pasayat, c.j.1. accepting the prayer for reference in terms of section 256(1) of the income-tax act, 1961 (in short 'the act'), the income-tax appellate tribunal, cochin bench (in short 'the tribunal'), has referred the following' question for opinion of this court :'whether, on the ..... rs. 3,02,758 relatable to the assessment year 1978-79 was to be included. for arriving at such a conclusion, the commissioner of income-tax (appeals) referred to the fact that the additions in reassessments for the assessment years 1980-81 and 1981-82 had since been confirmed in appeal by ..... statutory liability. the tribunal was, therefore, of the view that no part of rs. 14,65,997 could be brought to tax. accordingly, the addition sustained by the commissioner of income-tax (appeals) was deleted. the revenue moved an application for reference under section 256(1) which, as indicated above, has been ..... the commissioner of income-tax (appeals) and the matter for those years were pending before the tribunal. it was further noticed that the special leave petition filed by the ..... facts and in the circumstances of the case, the tribunal is right in law and fact in holding that rs. 3,02,758 cannot be brought to tax and .....

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Nov 01 1999 (HC)

Commissioner of Income-tax Vs. Jai Hind Travels (P.) Ltd.

Court : Kerala

Decided on : Nov-01-1999

Reported in : [2000]243ITR451(Ker)

..... by this court in original petitions nos. 7655 and 9863 of 1993, the following questions have been referred by the income-tax appellate tribunal, cochin bench (in short 'the tribunal'), 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 tribunal was justified in holding that the ..... association (in short 'the iata') granted approval of passenger sales agency to the assessee was not accepted by the assessing officer. in the first appeal, the commissioner of income-tax (appeals) (in short 'the cit (a)'), noticed that the assessee had applied for membership of the iata on july 27, 1979, and though an approval was granted on august 6, 1982, in proceedings ..... ]26itr27(sc) and cit v. shri goverdhan ltd. : [1968]69itr675(sc) ). thus, it is manifest that if an asses-see acquires a right to receive income, the income can be said to accrue to him though it may be received later on. a mere claim to income without an enforceable right thereto cannot be regarded as accrued income for the purpose of the act. 'accrues', 'arises ..... . as was observed in cit v. ashokbhai chimanbhai : [1965]56itr42(sc) , income is said to be received when it reaches the assessee ; when the right to receive the income becomes vested in the assessee, it is said to accrue or arise.7. it can be said without hesitation that the words 'accrue' or 'arise' though not defined in the act are certainly synonymous and .....

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Nov 27 1999 (HC)

Commissioner of Income-tax Vs. C.W.S. (India) Ltd.

Court : Kerala

Decided on : Nov-27-1999

Reported in : (2000)158CTR(Ker)529; [2000]246ITR278(Ker)

..... the asses-see is entitled to get deduction under section 80hhc of the income-tax act, 1961, before applying rule 8(1) of the income-tax rules, 1962 ?'2. the factual position is undisputed and needs to be noted in brief. the assessee is a company in which the public are substantially ..... the revenue submitted'that what is to be considered as profits of business for the purpose of computing' deduction is income liable to tax under the act. the decision of madras high court, as referred to above, was in respect of the agricultural income-tax act and has no relevance to the case of the assessee. learned counsel for the assessee, on the other hand, submitted ..... arijit pasayat, c.j.1. accepting the prayer in terms of section 256(1) of the income-tax act, 1961 (in short, 'the act'), made by the revenue, the income-tax appellate tribunal, cochin bench (in short, 'the tribunal'), has referred the following question for the opinion of this court :'whether, on the facts and in the circumstances of the case, ..... that as per rule 8(1) of the rules, the entire income from sale of tea grown and manufactured by the assessee should be computed as if .....

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Dec 18 1999 (HC)

Kerala State Industrial Development Corporation Ltd. Vs. Commissioner ...

Court : Kerala

Decided on : Dec-18-1999

Reported in : [2000]246ITR330(Ker)

..... arising to the credit institution in that previous year :provided that any interest in relation to categories of bad or doubtful debts referred to in section 43d of the income-tax act shall be deemed to accrue or arise to the credit institution in the previous year in which it is credited by the credit institution to its profit and loss account ..... assessed under the cash system under the income-tax act does not the chargeable interest deserve to be computed on cash method and if the ..... intention of the legislature would have been to tax on mercantile system, the legislature in their wisdom would not have included section 145 of the income-tax act, 1961, in section 21 of the interest-tax act ?2. a short but interesting question arises for consideration. the reference has its foundation in sections 5 ..... accrual basis, rejecting the cash system of accounting accepted for the assessment under the income-tax act, 1961 ?(2) whether, on the facts and circumstances of the case, on account of doctrine of incorporation, section 145 of the income-tax act, 1961, having been incorporated in section 21 of the interest-tax act, 1974, when the assessee maintains books of account on cash system and being .....

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Nov 10 1999 (HC)

Commissioner of Income-tax Vs. Dhanalakshmy Weaving Works

Court : Kerala

Decided on : Nov-10-1999

Reported in : [2000]245ITR13(Ker)

..... supreme court--169 itr 221), the tribunal is right in law and fact in deleting the interest levied under section 201(1a) of the income-tax act 2. whether, on the facts and in the circumstances of the case, the tribunal is right in applying the decision in 151 itr 477 rendered under section 201 to the ..... arijit pasayat, c.j. 1. an interesting question arises in this reference made by the income-tax appellate tribunal, cochin bench (in short, 'the tribunal'), under section 256(1) of the income-tax act, 1961 (in short, 'the act'). the questions referred are as follows ;'1. whether, on the facts and in the circumstances of the case (and also in the light of the decision of the ..... before the assessing officer evidence to show that income-tax assessment of that firm had already been completed admitting interest received from the assessee and taxes were also paid by sangi and co., on their assessment. for the assessee's default in not deducting tax on interest, in accordance with the provisions of section 194a of the act, the assessing officer levied interest under section ..... required by or under this act, he or it shall, without prejudice to any other consequences which he or it may incur, be deemed to be an assessee in default in respect of the tax : provided that no penalty shall be charged under section 221 from such person, principal officer or company unless the income-tax officer is satisfied that such person or principal .....

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Nov 01 1999 (HC)

Commissioner of Income-tax Vs. A. Sreenivasa Pai

Court : Kerala

Decided on : Nov-01-1999

Reported in : (2000)160CTR(Ker)216; [2000]242ITR29(Ker)

..... arijit pasayat, c.j.1. pursuant to a direction given by this court, the following question has been referred for opinion under section 256(2) of the income-tax act, 1961 (in short 'the act'), by the income-tax appellate tribunal, cochin bench (in short 'the tribunal') :'whether, on the facts and in the circumstances of the case, the tribunal is right in law and ..... the inspecting assistant commissioner. explanation 1.--where in respect of any facts material to the computation of the total income of any person under this act,-- (a) such person fails to offer an explanation or offers an explanation which is found by the income-tax officer or by the appellate assistant commissioner to be false, or (b) such person offers an explanation which ..... introduced. the provision at the relevant time read as follows :'271. (1) if the income-tax officer or the appellate assistant commissioner in the course of any proceedings under this act, is satisfied that any person--. . . (c) has concealed the particulars of his income or furnished inaccurate particulars of such income,he may direct that such person shall pay by way of penalty,--. . . (iii) ..... he is not able to substantiate, then, the amount added or disallowed in computing the total income of such person as .....

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Nov 29 1999 (HC)

Commissioner of Income-tax Vs. Kerala Transport Co.

Court : Kerala

Decided on : Nov-29-1999

Reported in : (2000)158CTR(Ker)551; [2000]242ITR263(Ker)

..... also in deciding the same on merits ? (ii) and also in view of the words 'at the time of filing of the appeal' occurring in section 249(4) of the income-tax act, the tribunal is right in law in holding that to an appeal filed after april 1, 1989, the provision prior to april 1, 1989, will apply ?' 4. the same is ..... , a question of vital importance has been raised about the jurisdiction of the tribunal to reconsider a question of limitation, while exercising powers under section 256 of the income-tax act, 1961 (in short the 'act'), we do not think it necessary to go into that question in detail in view of the position as emerges in connected i. t. r. no. 174 of ..... tribunal, cochin bench, cochin (in short, 'the tribunal'). the first ground of challenge was the conclusion of the commissioner of income-tax (appeals) regarding condonation of delay and admissibility of appeal. the tribunal affirmed the conclusion of the commissioner of income-tax (appeals) though it indicated different reasons also.3. at this juncture, it is necessary to take note of a few facts which ..... section 143(2) of the act, books of account were produced and finally the income was assessed at rs. 1,45,06,670. the demand after adjustment of advance tax and taking into account interest payable undersections 139(8), 215 and 216 came to rs. 52,91,476. the matter was challenged in appeal before the commissioner of income-tax (appeals), calicut (in short 'the .....

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