Court : Guwahati
Decided on : Oct-27-2003
..... fact that the provisions of sub-clause (5) of section 20c of the act were more or less identical with section 234b of the income-tax act, we hold that in the absence of any specific order regarding the interest levied in the impugned order is bad in law and the same ..... held that in the absence of a specific and clear order by the assessing officer for charging interest under section 234b of the income-tax act, 1961, interest cannot be charged. the matter was challenged before the apex court in cit v. ranchi club ltd : 247itr209(sc) and the apex court refused to interfere in the matter.8. in the circumstances and the ..... the said provisions were applicable.5. mr. bhatra, learned counsel for the petitioner, has submitted that the provisions of section 20c of the act are more or less identical with the provisions of section 234b of the income-tax act, 1961, and the requirement of law is that if the assessing officer intends to levy interest he must pass a specific order giving the ..... . agarwal, j. 1. the petitioner before us is an assessee under the assam agricultural income-tax act, 1939 (for short 'the act'). for the assessment year 1987-88, the petitioner submitted his return whereby the competent authority assessed the income and tax thereupon. so far the assessment of the income and the tax are concerned, these are not under challenge in this writ petition. further, the assessing authority .....Tag this Judgment!
Court : Mumbai
Decided on : Jan-22-2003
Reported in : (2003)182CTR(Bom)149; 261ITR70(Bom)
..... s.h. kapadia, j.1. being aggrieved by the decision of the tribunal, the department has come by way of appeal under section 260a of the income-tax act, 1961. the appeal concerns assessment year 1990-91. the following question of law has been referred to us in this appeal at the behest of the department.'whether, on the ..... . consequently, the tribunal allowed the appeal. being aggrieved, the department has come by way of appeal under section 260a of the income-tax act to this court.findings :3. in this case, as indicated by the facts mentioned hereinabove, the commissioner of income-tax (appeals) came to the conclusion that the judgment of the supreme court in dhun kapadia's case : 63itr651(sc) and ..... before and after the issue of the rights should be ascertained. the assessee relied upon this judgment of the bombay high court which was not accepted by the commissioner of income-tax (appeals) on the ground that in the case of k. a. patch : 81itr413(bom) , the shares were valued at market price and not a cost. consequently, the commissioner of ..... income-tax (appeals) dismissed the appeal filed by the assessee. being aggrieved, the assessee preferred appeal to the tribunal, which took the view that in view of the aforestated two decisions, the .....Tag this Judgment!
Court : Mumbai
Decided on : Jan-22-2003
Reported in : (2003)182CTR(Bom)54; 261ITR271(Bom)
..... has come by way of reference to this court.findings :3. rule 9a has been framed by the central board of direct taxes (cbdt) under section 295 of the income-tax act. rule 9a deals with deduction in respect of expenditure on production of movies. it lays down that in computing the profits and ..... has referred the matter under section 256(1) of the income-tax act, 1961, to this court for opinion on the following questions of law :'(i) whether, on the facts and circumstances of the case, the tribunal was right in holding that the income-tax officer was wrong in valuing closing stock in respect of the ..... closing stock at rs. 1.45 lakhs. there is nothing to indicate as to how this amount was arrived at. be that as it may, the income-tax officer applied the table for respective territories referred to above. the territories of andhra pradesh, tamil nadu, kerala and east punjab came under territory 'd', ' ..... rule 9a, which includes the table, then the income-tax officer may suitably write off the cost of production by applying a proper formula, which he deems suitable.4. therefore, a bare reading of the ..... exhibiting the movie is credited in the books of account maintained by the producer. sub-rule (9)(c) provides, inter alia, that where the income-tax officer is of the opinion, having regard to the facts and circumstances of a given case, that it is not practicable to apply the provisions of .....Tag this Judgment!
Court : Rajasthan
Decided on : Aug-26-2003
Reported in : 272ITR401(Raj)
..... 1990-91 relevant to the assessment year 1991-92. the assessing officer considered the conveyance allowance as part of the income of the employees, imposed additional tax on the principal officer of the board ; and levied interest under section 201 of the income-tax act, on it. aggrieved by the order passed by the assessing officer, the respondent filed an appeal before the commissioner of ..... , on the facts and in the circumstances of the case, the tribunal was justified in upholding the commissioner of income-tax (appeals) decision that conveyance allowance granted by the assessee to its employees was not a perquisite under section 17(2) of the income-tax act, 1961, and consequently directing the assessing officer to revise the demand created in respect of short payment of tds ..... income-tax (appeals), who accepted the plea of the respondent that conveyance allowance paid to the employees was not a perquisite and, therefore, the respondent was not liable .....Tag this Judgment!
Court : Guwahati
Decided on : May-22-2003
..... the respective authorities till the date the return was submitted. the assessee has not claimed any deduction of the amounts of the central sales tax and the state sales tax collected by him under section 43b of the income-tax act, 1961.3. the assessing officer by his order dated october 30, 1991, has directed addition of the amount of rs. 1, 11,68,436 ..... the present case and thus it is clear that neither of the authorities has considered the case whether the tax collected is an income of the assessee being the trading receipt. 4. on the facts found, we are satisfied that section 43b of the income-tax act is not attracted at all when the assessee has not claimed any deduction of the amounts collected by ..... has not claimed any deduction under section 43b. aggrieved by the said order, the revenue filed a second appeal before the income-tax appellate tribunal. the tribunal was of the view that the issue in question was covered by the decision rendered by the high court in the assessee's own case reported ..... not accepted and the amount collected by the assessee shall be treated as a trading receipt. aggrieved by the said order, the assessee filed an appeal before the commissioner of income-tax (appeals), guwahati. the commissioner (appeals) has upheld the contention raised by the assessee and held that the question of disallowing the amount in question does not arise as the assessee .....Tag this Judgment!
Court : Delhi
Decided on : Jan-28-2003
Reported in : (2003)183CTR(Del)317; 261ITR664(Delhi)
..... . 8.01 crores made by the 'assessing officer on account of unexplained investment in the mussoorie project under section 69b of the income-tax act ?(b) whether the income-tax appellate tribunal was correct in deleting the addition of rs. 8.01 crores only on the ground that the statement made by counsel ..... d. k. jain, j. 1. this appeal by the revenue under section 260a of the income-tax act, 1961 (for short 'the act'), is directed against the order of the income-tax appellate tribunal, new delhi (for short 'the tribunal'), dated june 21, 2002, in i. t. a. no. 953/delhi ..... to refer the matter to the valuation cell did not elicit any response and the assessing officer in his remand report to the commissioner of income-tax (appeals) categorically stated that this could not be done 'due to paucity of time' ;(ii) the rateable value of the property fixed ..... he, accordingly, made an addition of rs. 8,01,04,149 under section 69b of the act as investment from undisclosed sources.4. against the said addition, the assessed preferred appeal to the commissioner of income-tax (appeals) but without any success. the matter was carried in further appeal to the tribunal. ..... of 2002, pertaining to the assessment year 1998-99. the following questions, stated to be substantial questions of law, have been proposed in the appeal :'(a) whether the income-tax .....Tag this Judgment!
Court : Kerala
Decided on : Mar-28-2003
Reported in : (2004)188CTR(Ker)35; 266ITR122(Ker)
..... case, the tribunal is right in law in holding that for the purpose of section 40(b) of the income-tax act, the remuneration payable to the partners in terms of clause 13 of the partnership deed is to be worked out on the basis of the net profit ..... 13 is to be worked out on the basis of the net profit without deducting the income-tax liability. we hold that the assessing officer was not correct in making the disallowance under section 40(b) of the income-tax act.'clause 13 of the partnership deed only contemplated that though the net profit of the ..... 13. this does not mean that the income-tax liability which is charged on the total income must be deducted for arriving at the net profit. net profit both under the provisions of the income-tax act and under the general law will not take in the statutory liability to pay income-tax. that apart, the executants of the ..... partnership deed itself had understood clause 13 of the partnership deed as if it does not provide for deducting the income-tax liability, for, the remuneration payable ..... tribunal, cochin bench, has referred the following question of law under section 256(1) of the income-tax act, 1961, for short 'the act', for the decision of this court, at the instance of the revenue :'whether, on the facts and in the circumstances of the .....Tag this Judgment!
Court : Chennai
Decided on : Dec-23-2003
Reported in : (2006)200CTR(Mad)678; 272ITR525(Mad)
..... for reproduction of film songs for a specific period is royalty and allowable as revenue expenditure and not a capital expenditure, which attracts the provisions of section 35a of the income-tax act.2. the assessee is an individual engaged in the production of audio cassettes with popular film songs. he carries on the business of manufacturing pre-recorded cassettes and selling the ..... of income tax was of the view that the royalty paid for acquiring the copy right should be treated as capital expenditure, since what was obtained ..... of royalty and should, therefore, be allowed as revenue expenditure in computing the assessee's income. his claim was accepted on 29.09.1996 for the assessment year 1985-86. for the assessment year 1984-85 also, the assessment was made under section 143(3) of the income-tax act on 19.3.1987 accepting the deduction of such expenditure. later on, the commissioner ..... the film songs will hardly be for a period of six months. in the assessment made, these payments were treated as having been made for acquiring capital assets. 5. the income tax appellate tribunal went into the question in detail in the appeals filed by the assessee, and directed that the entire royalty paid should be treated as a revenue expenditure and .....Tag this Judgment!
Court : Chennai
Decided on : Apr-21-2003
Reported in : 267ITR74(Mad)
..... is right in law in holding that the criminal court's finding that the assessee is guilty of wilful default and hence punishable under the income-tax act has no relevance to the subject matter of appeal before them ?(c) whether, on the facts and in the circumstances of the case, the ..... tribunal accepted the explanations by the assessee and quashed the penalties which were inflicted by the assessing authority and the commissioner of income-tax (appeals) under section 271(1)(a) of the income-tax act, 1961.2. the appeal is at the instance of the revenue and the following substantial questions of law are canvassed.'( ..... of section 139 or by such notice, as the case may be, or' 5. it is obvious that the law poses discretion in the income-tax officer or the appellate assistant commissioner or even in the commissioner (appeals) to find out whether there has been a reasonable cause on account of ..... tribunal is right in law in admitting an argument which is based on facts would have certainly been advanced before the assessing officer, the commissioner of income-tax (appeals) and before the criminal court ?'3. the relevant year is 1985-86 and the returns were bound to be filed before june 30, ..... returns. the language of section 271(1)(a) is as follows :'271. (1) if the income-tax officer or the appellate assistant commissioner or the commissioner (appeals) in the course of any proceedings under this act, is satisfied that any person-- (a) has without reasonable cause failed to furnish the return of .....Tag this Judgment!
Court : Chennai
Decided on : Apr-30-2003
Reported in : (2004)191CTR(Mad)478; 269ITR390(Mad)
..... have always been taxable before and after the amendment to rule 3. only the mode of valuation of some of the perquisites has undergone change after the amendment.6. the income-tax act itself does not set out the manner in which the perquisites are to be valued. that is dealt with by the rule making authority, namely, the central board of direct ..... been stated that '. . . in respect of employees drawing salary up to rs. 1 lakh no perquisite value will be taken for computing the taxable income.''perquisites' is defined in an inclusive way in section 17(2) of the income-tax act. 'perquisites' as defined therein forms part of 'salary', which is defined in section 17(1), sub-clause (iv) of which refers, inter alia ..... in contrast to the employees of the government and of the private sector, and further their being burdened with additional liability to tax. the amended rule in their view is violative of article 14.2. rule 3 of the income-tax rules, 1962, deals with the valuation of perquisites. before proceeding further, we may record here that in the counter affidavit filed by ..... or to effect a contract for an annuity.4. 'salaries' is one of the heads of income referred to in section 14, which, inter alia, provides that 'all income shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income :-- a. salaries ; c. income from house property ; d. profits and gains of business or profession ; e .....Tag this Judgment!