Court : Patna
Decided on : Apr-13-2004
..... under reference being the same, they have been heard together and are being disposed of accordingly.2. this is reference under section 256(2) of the income-tax act, 1961 (hereinafter referred to as the act) made by the income-tax appellate tribunal, patna bench, patna to answer the following question of the law :--'whether on the facts and in the circumstances of the case, the ..... , no penalty was leviable on the assessee, who was a partner of the firm under section 271(1)(a) of the income-tax act, 1961.'3. in all the ten cases, the same question has been referred and in five reference cases, namely, tax case nos. 27, 28, 29, 30 and 33 of 1989, the opposite party is md. ehtesam and in other five ..... they did not file the return. thereafter, the assessment proceedings were initiated against both the partners/opposite parties. notice of show cause was issued under section 274 of the act by the income-tax officer as to why penalty be not imposed as there was no reasonable cause for not filing the return within time. both the partners appeared and filed their show ..... because petition under section 273-a and under section 245-c filed are pending.'8. the assessment proceedings concluded and best judgment assessment was made under section 144 of the act. in the penalty proceeding, the concerned income-tax officer did not accept the explanation given in the show cause and imposed penalty under section 271(1)(a) of the .....Tag this Judgment!
Court : Gujarat
Decided on : Jan-22-2004
Reported in : 267ITR612(Guj)
..... that even otherwise it was not open to the assessee to contend that payment of income tax dues of its predecessor firm may be allowed as a deduction notwithstanding the provisions of section 40(a)(ii) of the income tax act.11. accordingly, our answer to the question is in the affirmative i.e. ..... madhya pradesh high court, the assessee is entitled to claim the deduction. mr patel also submitted that the nature of the liability of the income tax of the erstwhile firm changed when the assessee took over the running business and, therefore, what was not deductible in the hands of the ..... dissolution, the assessee company undertook to make payment of all the liabilities of the erstwhile firm. hence the assessee had paid the amount of income tax as a part of the consideration for acquiring the running business of the erstwhile firm along with its assets and liabilities and accordingly the ..... of judgment of hon'ble supreme court in the case of t.v.k. koteshwararao : 155itr152(sc) .the revenue preferred appeal before the income tax appellate tribunal which analyzed the relevant provisions and also considered the decisions of the hon'ble supreme court in t.v.k. koteshwararao : 155itr152( ..... mr bhatt, learned standing counsel for the revenue.3. the assessee claimed deduction of a sum of rs.1,18,920/- in respect of income tax liability of the erstwhile partnership firm styled as m/s.himson textile engineering industries. the assessee company joined as a partner in the aforesaid .....Tag this Judgment!
Court : Karnataka
Decided on : Feb-23-2004
Reported in : (2004)188CTR(Kar)185; 267ITR577(KAR); 267ITR577(Karn)
..... /bang/2002 relating to the block period 1990-91 to 1999-2000.2. the ao passed a block assessment order dt. 25th june, 2001, under section 158bc of the income-tax act, ('act' for short), in pursuance of a search conducted under section 132 of the act on 13th july, 1999. the said assessment order was passed after obtaining the previous approval from the jt ..... is, therefore, answered against the assessee.re. question no. (ii)5. a sum of rs. 22,00,000 was added by the ao to the income of the assessee as undisclosed income by way of interest. the cit(a) confirmed the same. the tribunal held that the said interest was earned on the amount financed to m/s. balakrishna group. it was held ..... have been heard in the matter according to the appellant, the tribunal ought to have restricted its direction that the undisclosed income be taxed, to the share of the assessee in rs. 22 lakhs. it is contended that the direction to tax the balance in the hands of other persons could have been made only after giving appropriate notices to such persons and ..... search cases. section 158bc prescribes the procedure for block assessment. clause (c) of section 158bc enables the ao, on determination of the undisclosed income of the block period, to pass an order of assessment and determine the tax payable by him on the basis of such assessment sub-clause (b) requires the ao to proceed in the manner laid down in section .....Tag this Judgment!
Court : Allahabad
Decided on : May-19-2004
Reported in : (2004)192CTR(All)174; 269ITR133(All)
..... agricultural operation in the sense of cultivation of the soil.8. section 10(1) of the income-tax act states that agricultural income shall not be included in the total income of any person for the purposes of assessing him to income-tax.9. section 2(1a) of the income-tax act defines 'agricultural income' to mean : '(a) any rent or revenue derived from land which is situated in india ..... cannot object to filing of an appeal despite such an instruction. the appeal is clearly maintainable before the tribunal on behalf of the department under section 253(2) of the income-tax act, and this right to file an appeal is a statutory right and cannot be taken away or prohibited by executive instructions. moreover, the instructions itself state that an appeal ..... the nature described in paragraph (ii) of this sub-clause ;'10. it may be noted that the words 'agriculture' and 'agricultural purposes' have not themselves been defined in the income-tax act. hence they have to be given the meaning in common parlance and as interpreted by the courts. the meaning and import of the terms 'agriculture' and 'agricultural purposes' have been ..... and is used for agricultural purposes ; (b) any income derived from such land by--(i) agriculture ; or (ii) the performance by a cultivator or receiver of rent-in .....Tag this Judgment!
Court : Chennai
Decided on : Jul-26-2004
Reported in : 274ITR41(Mad)
..... the terms of deed of trust are not in the same position as receivers. an association of persons as used in section 3 of the income tax act, 1961, means an association in which two or more persons join in a common purpose or common action, and as the words occur in ..... the appellant/revenue by a division bench of the bombay high court in 'commissioner of income tax vs marsons beneficiary trust : 188itr224(bom) , wherein it was held as follows:-'under section 161 of the income tax act, 1961, the tax shall be levied upon and recovered from a trustee in like manner and to the ..... same extent as it would be leviable upon and recoverable from the person represented by him. in other words, income which comes to the share of a beneficiary ..... .2285/96. the following substantial question of law is raised for consideration:-'whether on the facts and in the circumstances of the case, the income tax appellate tribunal was right in holding that the assessing officer was not correct in assessing the assessee trust in the status of association of persons ..... the assessment of the assessee trust for the assessment year 1984-85 was originally completed u/s 143(1) determining the total income at rs. 1,99,940/-. the commissioner of income tax, on a perusal of the records, found that the order of the assessing officer was erroneous and prejudicial to the interest .....Tag this Judgment!
Court : Guwahati
Decided on : Aug-25-2004
..... the members of an association of persons individually is no bar for assessment of the association of persons. though keeping in view, the difference in the scheme of the act and the indian income-tax act, 1922, on the aspect of option, there can be no dispute on the legal principle enunciated, having held that the appellants and four others had not formed the ..... arguments of the parties are that the appellants/writ petitioners are residents of thangal bazar, imphal, in the state of manipur and are existing assessees under the income-tax act, 1961 (hereafter referred to as 'the act'), enjoying income from house property, share of profit from their respective firms as well as from interest. during the year 1983-84, relevant to the assessment year 1984 ..... and purna ginning and pressing factory : 60itr95(sc) , the apex court, with reference to the option available to an income-tax officer under section 3 of the indian income-tax act, 1922, held that it was not open to the assessing officer to assess one income twice, once in the hands of the individuals and again in the hands of an unregistered firm. there the ..... subsequently sought to assess them in the status of an unregistered firm.36. in ito v. bachu lal kapoor : 60itr74(sc) , a notice under section 34 of the indian income-tax act, 1922, issued to the karta of a hindu undivided family was sought to be resisted, inter alia, on the ground that the .....Tag this Judgment!
Court : Guwahati
Decided on : Aug-24-2004
..... accounting period ending june 30, 1984, and was carrying on the business of growing, manufacture and sale of tea in india and abroad. the assessee was assessed under the income-tax act by the inspecting assistant commissioner of assam, guwahati. the assessing authority has allowed deduction of the profit derived by the assessee from the export of goods or merchandise under section ..... per cent under rule 8 of the income-tax act.8. thereafter, the assam agricultural income-tax officer issued notice under section 30 of the assam agricultural income-tax act, 1939, to the assessee for assessment under the act, on the ground that the deduction allowed under section 80hhc before computation of the composite income under rule 8 of the income-tax rules by the income-tax officer, was detrimental to the revenue ..... assessee is entitled to take deductions even if it does not fall within any of these sections if otherwise allowable under the provisions of the income-tax act.19. in a decision cit v. sir s. m. chitnavis  6 itc 453, the privy council permitted bad debts to be an admissible deduction, though there was no special allowance for bad ..... from sale of tea grown and manufactured by the seller and exported out of india under section 2(1a) of the income-tax act, 1961 (hereinafter referred to as 'the act of 1961'), read with rule 8 of the income-tax rules, 1962 (hereinafter referred to as 'the rules of 1962'), the deduction under section 80hhc in respect of profits derived from export of .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-05-2004
Reported in : 271ITR370(Bom)
..... was taxable in india. the plaintiff was called upon to show cause why the plaintiff should not be treated as an agent of the defendant under section 163 of the income-tax act. the averments in paras. 25 and 26 are also of some significance. the same read thus :'25. in the circumstances the plaintiff submits that the plaintiff and the defendant are ..... remit this money immediately.'17. para. 15 of the plaint reads thus :'another order dated march 27, 2000, was also issued by the income-tax department under section 226(3) of the income-tax act calling upon the plaintiff to pay to the income-tax authorities the amount payable to the defendant which amounted to rs. 132,65,21,397 (us $ 28.22 million) and prohibiting the ..... agreements entered into with the defendant.'15. para. 12 of the plaint reads thus :'the deputy commissioner by his order dated february 9, 2000, issued under section 281b of the income-tax act directed the plaintiff not to remit any monies to the defendant or to deposit any monies in the escrow account or any other account in india and also provisionally attached ..... arisen ; and having failed to discharge that liability, that amount became recoverable from the plaintiff by operation of law, on conjoint reading of sections 159 to 163 of the income-tax act, and within the jurisdiction of this court. taking any view of the matter, all requirements of clause 12 are attracted in the fact situation of the present case. in other .....Tag this Judgment!
Court : Allahabad
Decided on : Apr-23-2004
Reported in : (2004)191CTR(All)25; 269ITR71(All)
..... material to support this finding of fact as is evident from paragraphs 11 and 12 of the tribunal orders. hence, this court cannot interfere under section 260a of the income-tax act.19. in cit v. shree manjunathesware packing products and camphor works  231 itr 53, the supreme court has held that the word 'record' in the explanation to section 263(1) includes ..... m. katju, j.1. this appeal under section 260a of the income-tax act, 1961, has been filed against the judgment of the income-tax appellate tribunal, allahabad, dated october 18, 2002, relating to the assessment year 1998-99.2. heard learned counsel for the parties.3. the appellant owns properties at 199, transport nagar, ..... . thus the revisional power of the commissioner under section 263 is of wide amplitude. it enables the commissioner of income-tax to call for and examine the record of any proceedings under the act. it empowers the commissioner of income-tax to make or cause to be made such inquiry as he deems necessary in order to find out if any order passed by the ..... the property was disclosed by the three brothers.5. the assessing officer completed the assessment under section 143(3) of the act for the assessment year 1998-99 on march 9, 2001. the commissioner of income-tax set aside the aforesaid assessment order under section 263 holding that the assessment order dated march 9, 2001, is prejudicial to the interests of the revenue .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Feb-24-2004
Reported in : (2004)189CTR(MP)26; 268ITR244(MP); 2004(1)MPHT438; 2004(1)MPLJ589
..... has not been disputed before us that up to 1-4-1989 the interest shall be payable in accordance with section 244 of the income tax act and for the period beyond that, according to section 244a of the income tax act. so far as the period prior to 1-4-1989 is concerned, the appellant's case is that interest has been rightly calculated under ..... case of modi industries ltd. (supra), whether the tribunal is justified in law in holding that assessee was entitled to interest under sections 214 and 244(1-a) of the income tax act in respect of the a. ys. 1972-73 to 1976-77 ?(2) whether the tribunal was justified in law in holding that the assessee was entitled to the benefit of ..... case of modi industries ltd. (supra), whether the tribunal is justified in law in holding that assessee was entitled to interest under sections 214 and 244(1-a) of the income tax act in respect of the a.ys. 1972-73 to 1976-77 ?(2) whether the tribunal was justified in law in holding that the assessce was entitled to the benefit of ..... the amount becomes refundable to the assessee by virtue of an order passed in appeal or any proceedings under the act. section 240 of the income tax act deals with refund as a result of any order passed in appeal or proceedings under the act. it reads as under :-- '240. where, as a result of any order passed in appeal or other proceeding under this .....Tag this Judgment!