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Judgment Search Results Home > Cases Phrase: income tax act Year: 2000 Page 1 of about 5,306 results (0.233 seconds)

Apr 27 2000 (HC)

Hans Raj Agarwal and Another Vs. Appropriate Authority Constituted Und ...

Court : Andhra Pradesh

Decided on : Apr-27-2000

Reported in : 2000(4)ALD33; 2000(4)ALT215; [2000]246ITR232(AP)

..... be taken as forming part of record of appeal and be taken into account for the purpose of correcting the mistake under section 35 of the income tax act, 1922. the ratio of that decision in our view, has no application as there is world of difference in facts. the ratio of the ..... ) :'we may clarify that, as far as completed transactions are concerned, namely, where, after the order for compulsory purchase under section 269ud of the income tax act was made and possession has been taken over, compensation was paid to the owner ofthe property and accepted without protest, we see no reason to upset ..... reddi, j. 1. the impugned order passed in exercise of the powers vested in appropriate authority under section 269ud(1) of the income tax act directs pre-emptive purchase of the property belonging to the estate of late mrs. leila d. lein and the payment by central government ..... 17315 of 1989, the high court stayed the dispossession of the petitioners. however, the possession was purportedly taken over by the nominated officer of the income tax department from respondent no.5 on 19-12-1989. by that time, the order of stay was not received by the appropriate authority. before taking ..... income tax officer's order relating to assessment year 1959-60.'19. it is on those peculiar facts, their lordships of the supreme court held that the subsequent decision of the tribunal regarding the value of closing slock of 1959-60 could form the basis for exercising the power under section 35 of the old act .....

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Mar 16 2000 (HC)

Eveready Industries India Ltd. Vs. Joint Commissioner of Income-tax (A ...

Court : Guwahati

Decided on : Mar-16-2000

..... -disclosure as regards any fact which could have a material bearing on the question of underassessment, that would be sufficient to give jurisdiction to the income-tax officer to issue notice under section 34 of the indian income-tax act, 1922, and whether these grounds are adequate or not, is not a matter for the court to investigate. he also cited the decision of this ..... the materials disclosed by the assessee. he cited the decision of the supreme court in kalyanji mavji and co. v. cit : [1976]102itr287(sc) , in which the supreme court while interpreting section 34 of the indian income-tax act, 1922, held that the income-tax officer would have jurisdiction to reopen the original assessment even on the basis of information derived from an external source of ..... . this position of law would be clear from a bare reading of section 147 and the proviso thereto. he explained that similar provisions existed in section 34 of the indian income-tax act, 1922, and in calcutta discount co. ltd. v. ito : [1961]41itr191(sc) , the supreme court held that to confer jurisdiction under section 34 of the indian ..... income-tax act, 1922,'to issue notice in respect of the assessment beyond the period of four years, but within a period of eight years, from the end of the relevant assessment year, .....

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Jun 19 2000 (HC)

Commissioner of Income-tax Vs. Acme Manufacturing Company Ltd.

Court : Mumbai

Decided on : Jun-19-2000

Reported in : [2001]249ITR460(Bom)

..... being aggrieved, the department preferred an appeal to the tribunal. the said appeal has been dismissed. hence, the department has filed the present appeal under section 260a of the income-tax act.3. learned counsel appearing on behalf of the department contended that the point involved in this appeal needs to be considered. it was urged that the tribunal has relied upon ..... who visited india and stayed in hotels. the expenditure incurred by the assessee which came to be disallowed by the assessing officer was in view of rule 6d of the income-tax rules. the tribunal held that the assessing officer was entitled to make disallowance under rule 6d. the tribunal upheld the disallowance made by the assessing officer under rule 6d. ..... 1. the short point which arises for consideration in this appeal is : whether the commissioner of income-tax (appeals) was right in directing the income-tax officer to exclude the conveyance expenses and telephone expenses from computation of disallowance under rule 6d of the income-tax rules, 1962.2. the facts relevant for the purpose of deciding the above question are as follows :the controversy in ..... this case pertains to the assessment year 1989-90. the assessee-company is engaged in the business of manufacturing and sale of cranes, gas generators, etc. as per the tax audit report, disallowance was worked .....

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Mar 13 2000 (HC)

Commissioner of Income-tax Vs. Prudential Management and Services Pvt. ...

Court : Mumbai

Decided on : Mar-13-2000

Reported in : [2001]250ITR136(Bom)

..... ltd. : [1981]131itr1(bom) . being aggrieved, the department has come in appeal to this court under section 260a of the income-tax act.4. mr. desai, learned counsel appearing on behalf of the revenue, contended that the assessee was not entitled to claim investment allowance ..... to this appeal briefly are as follows :the assessee is carrying on the business of data processing with the help of computers. the assessee derived income for the assessment year 1985-86 from computer hire. the assessee claimed investment allowance on the computers installed during the year. the assessing officer rejected ..... rival contentions advanced, we are of the view that in this matter the tribunal did not have the opportunity of considering the judgment of this court in cit v. r. shroff consultants p. ltd. : [1999]238itr1018(bom) . it was contended on behalf of the assessee that the said judgment has no ..... [1993]204itr412(sc) . he contended that the tribunal had not considered the above two judgments. he contended that the judgment of this court in the case of cit v. i. b. m. world trade corporation : [1981]130itr739(bom) has no application to the facts of this case. hence, he contended that the tribunal ..... as well as additional depreciation as there was no production of an article in data processing. he relied upon the judgment of this court in cit v. r, shroff consultants p. ltd, : [1999]238itr1018(bom) . he contended that in the said judgment, this court has taken the view, .....

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May 02 2000 (HC)

Commissioner of Income-tax Vs. Income-tax Appellate Tribunal and anr.

Court : Delhi

Decided on : May-02-2000

Reported in : [2000]245ITR659(Delhi)

..... vii, who had the jurisdiction over the assessee, on october 12, 1994. it is only the commissioner of income-tax, delhi vii who could file a reference application under section 256(1) of the income-tax act. the application was accordingly filed by the commissioner of income-tax, delhi vii, within the prescribed time of sixty days. however the tribunal took the view that the period of ..... limitation commenced from january 24, 1992, when a copy of the order was served on the commissioner of income-tax, central-i and for that reason the ..... . anand construction co. pvt. ltd. [1992] 193 itr 330. in that case the order under section 256(1) had been served on the chief commissioner. thereafter the commissioner of income-tax had filed an application under section 256(2) and it was contended by the assessed that the date of service on the chief commissioner would be the starting of the ..... came to the conclusion vide the said judgment dated january 24, 1991, that what was material was the service on the commissioner of income-tax concerned and not the service on chief commissioner. it is the commissioner of income-tax concerned who alone has the jurisdiction to file application and it is imperative that it is he who should be served with a copy .....

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Nov 09 2000 (HC)

Commissioner of Income-tax Vs. Rajendra Prasad Gupta

Court : Rajasthan

Decided on : Nov-09-2000

Reported in : [2001]248ITR350(Raj)

..... best judgment assessment under section 158bb in view of the explanation to section 158bb permitting resort to the provisions of sections 144 and 145 of the income-tax act, 1961. 3. we are of the opinion that so far as the contention of learned counsel for the appellant that the assessing officer has ..... , j. 1. heard learned counsel for the appellant. 2. in this appeal, the appellant has challenged the order of the income-tax appellate tribunal, dated may 24, 1999, setting aside the order of the assessing authority on the ground that the assessment made by ..... material has been found in the possession of the revenue authority before such returns can be rejected and thereafter to frame assessment estimating the income liable to tax to the best of judgment on the basis of the material that is available with him. 4. having perused the assessment order, we ..... to be after considering that material on record. it is the substance and the reasoning adopted by the tribunal that the assessing officer has estimated the income without reference to the material in his possession which cannot be countenanced. 5. thus, finding has rightly been reached by the tribunal on the ..... come in the possession of the assessing authority during the course of search proceedings and on which basis the belief about the existence of undisclosed income is entertained by the assessing authority inviting invocation of sections 158bb and 158bc. the enquiry into the correctness of such returns with reference to material .....

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Dec 04 2000 (HC)

Killick Nixson Limited Vs. the Dy. Commissioner of Income Tax and anr.

Court : Mumbai

Decided on : Dec-04-2000

Reported in : (2001)165CTR(Bom)280; [2001]248ITR17(Bom)

..... ., gets settled and that decision becomes final and conclusive under section 90 of the scheme and once that conclusive is arrived at, there is no scope for application of the income tax act. hence he contended that the impugned notice is without jurisdiction because the entire matter got settled when the declaration filed by the petitioner was accepted by the designated authority. finally ..... short question which arises for consideration by this court in this writ petition is : whether the a. o. was authorised and empowered to proceed under section 142(1) of the income tax act in respect of assessment year 1992-1993 after the designated authority passed an order on 19th january, 1999 under the kar vivad samadhan scheme (hereinafter, for the sake of brevity ..... law for the time being in force, the amount payable under the scheme by the declarant shall be determined at the rates specified hereunder, namely :- (a) where the tax arrear is payable under the income tax act, 1961 (43 of 1961),- (i) in the case of a declarant being a company or a firm, at the rate of thirty-five per cent of the ..... stage, the designated authority has merely to mathematically work out the figures. that, the second stage has nothing to do with the determination of tax. that, at the second stage, there is no question of applying the income tax act. that, at the second stage, the only function which the designated authority is required to perform is to arrive at the right figure of .....

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Sep 08 2000 (HC)

Tribhovandas Bhimji Zaveri Vs. Assistant Commissioner of Income-tax an ...

Court : Mumbai

Decided on : Sep-08-2000

Reported in : [2001]247ITR727(Bom)

..... . 1,53,02,226 for the assessment year 1988-89. according to the department, gold ornaments were not found in 1982 when action was taken under section 132 of the income-tax act and, therefore, the sale could not have taken place in favour of the firm in 1987 as the gold ornaments did not belong to the individuals. hence, according to the ..... all 18 individuals on march 27, 1987. thereafter, all 18 individuals sold the said jewellery to the assessee. the assessing officer summoned all 18 individuals under section 131 of the income-tax act. 14 out of the 18 individuals attended the office of the assessing officer. they stated to have sold the jewellery to the assessee-firm. that, the jewellery was acquired by ..... the decision of the tribunal, directing the addition of rs. 1,53,02,226 for the assessment year 1988-89, this appeal has been filed under section 260a of the income-tax act, 1961, by the assessee.facts :the assessee is a partnership-firm. it is engaged in the business of dealing in bullion, gold and jewellery. for the assessment year 1988-89 ..... the assessment year 1988-89 which was not the amnesty year. for example, gopaldas zaveri filed a return of income on june 29, 1988, declaring the income of rs. 7,05,170. the income was processed and assessed under section 143(3) of the income-tax act. on the basis of sale of gold ornaments in the previous year relevant to the assessment year 1988-89 .....

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Jul 25 2000 (HC)

Commissioner of Income-tax Vs. Ravi Ratna Exports (P.) Ltd.

Court : Mumbai

Decided on : Jul-25-2000

Reported in : [2000]246ITR443(Bom)

..... view that business profits were required to be computed under the head 'profits and gains of business' which, in turn, refers to section 28 to 44d of the income-tax act. in the case of cit v. k. k. doshi and co : [2000]245itr849(bom) (ita no. 77 of 2000), this court has once again reiterated that even before april 1, 1992, receipts which ..... the above formula. on the other hand, as stated above, the assessing officer has held that the interest income was income from other sources. if that be the case, then such an income cannot come within the ambit of section 28 to 44d of the income-tax act. it cannot come under profits and gains of business. therefore, looking at this matter from either point of ..... sales far exceeded sale proceeds from export activity, receipts like rent, interest, labour commission were included in business profits in the above formula. in the case of cit v. kantilal chhotalal [2000] 246 itr 440 (income-tax appeal no. 533 of 2000), this court has excluded such receipts from business profits. further, this court has held that the amending law which came into ..... allowed in the following terms.'this appeal concerns the assessment year 1989-90. the income-tax appellate tribunal has held that interest income is business income. in view of the judgment of this court in godavari sugar mills ltd. (no. 2) v. cit : [1991]191itr359(bom) , such income cannot be business income. it is income from other sources. therefore, it will not form part of profits from business .....

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Jan 25 2000 (HC)

Savitri and Co. Vs. Income-tax Officer

Court : Mumbai

Decided on : Jan-25-2000

Reported in : [2000]246ITR520(Bom)

..... residual ownership. it is interesting to note that at page 646, the supreme court considered the matter from a different angle. it observed that under the income-tax act, the assessing officer has the power to assess the income in the hands of the real owner. that, if 'a' purchases the property in the name of 'x', simply because the property is registered in ..... under common law, owner means a person who has valid title conveyed to him, in the context of section 143(1)(a) of the income-tax act, 1961, the owner is a person who is entitled to receive income from the property in his own right. accordingly, it was held that the liability is on the person who receives the rent from the property ..... rental income from the said premises in the return of the assessee and when query was raised in this regard, it was explained ..... disclosed by the asses-see-firm in its hands. however, from the assessment year 1993-94, no such rental income was shown. the return for the assessment year 1993-94 was processed by the assessing officer under section 143(1)(a) of the income-tax act, 1961. while framing the assessment for the assessment year 1995-96, the assessing officer noticed the absence of .....

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