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Judgment Search Results Home > Cases Phrase: income tax act Year: 2004 Page 3 of about 7,074 results (0.132 seconds)

Feb 24 2004 (HC)

Jhunjhunwala Vanaspati Ltd. Vs. Assistant Commissioner of Income-tax ( ...

Court : Allahabad

Decided on : Feb-24-2004

Reported in : (2004)189CTR(All)46; [2004]266ITR664(All)

..... . 24,61,860. notice under section 143(2) of the act dated june 18, 1991, was issued to the petitioner and was served on him on june 21, 1991. thereafter, the ..... m. katju j.1. the petitioner has challenged the validity of the notice dated march 18, 1994, under section 148 of the income-tax act, 1961, issued to the petitioner for the assessment year 1990-91 (vide annexure 4 to the writ petition). in the alternative the petitioner has also challenged the order dated march ..... . the petitioner is a company registered under the indian companies act having its head office at varanasi. the petitioner established a vanaspati manufacturing unit which started production from march 29, 1990. the petitioner maintains account on mercantile basis.4. for the assessment year 1990-91, the petitioner filed a return under the income-tax act on december 31, 1990, declaring a loss of rs ..... case was transferred to the deputy commissioner of income-tax (assessment), varanasi, who again issued notice under section 143(2) dated july 15, 1991. thereafter letter .....

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Aug 31 2004 (HC)

Commissioner of Income-tax Vs. Kanpur Textiles Ltd.

Court : Allahabad

Decided on : Aug-31-2004

Reported in : (2005)198CTR(All)293; [2005]276ITR140(All)

..... the facts and in the circumstances of the case, the tribunal was justified in law in holding that the interest paid to the income-tax department was an allowable deduction under the income-tax act ?'2. briefly stated, the facts giving rise to the present reference are as follows :the reference relates to the assessment year ..... the facts and in the circumstances of the case, when the provisions of section 36(1)(v) of the income-tax act, 1961, the provisions as contained in part c of schedule iv of the income-tax act, 1961 and the rules relating thereto were not complied with, the tribunal was in law justified in allowing the ..... the facts and in the circumstances of the case, when the provisions of section 36(1)(v) of the income-tax act, 1961, the provisions as contained in part c of schedule iv of the income-tax act, 1961 and the rules relating thereto were not complied with, the tribunal was in law justified in allowing the ..... the apex court has further held as follows (page 67) :'but the contention was that though schedule vi to the companies act may permit a provision for contingent liabilities, the income-tax act, 1961, does not, for, under section 36(v), the only deduction from profits and gains permissible is of a sum paid ..... tribunal, allahabad, has referred the following questions of law under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the opinion to this court :--'1. whether, on the facts and in the circumstances of the case, the .....

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Feb 24 2004 (HC)

Commissioner of Income Tax Vs. Udhoji Shri Krishandas

Court : Madhya Pradesh

Decided on : Feb-24-2004

Reported in : (2004)189CTR(MP)26; [2004]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 .....

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May 13 2004 (HC)

D.P. Agrawal Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Decided on : May-13-2004

Reported in : (2005)193CTR(MP)297; [2005]272ITR118(MP); 2004(3)MPLJ338

..... a. no. 545/jab of 1997 relating to the assessment year 1994- 95.2. the income-tax appellate tribunal has allowed the appeal filed by the commissioner of income-tax holding that deduction under section 80hh , and section 80i of the income-tax act, 1961 (hereinafter referred to as 'the act'), on the income arising from brass scrap obtained in the process of breaking and dismantling of guns is ..... judgment in sterling foods' case : 1986(26)elt3(sc) has been rightly applied by the bombay high court, in the case of cit v. sterling foods (goa) : [1995]213itr851(bom) to a claim under section 80hh of the income-tax act and it has been held that the activity of processing of prawns is not an activity of manufacture or production.'19. the claim ..... was approved and reiterated in 1955 by a constitution bench of this court in the decision of mrs. bacha f. guzdar v. cit : [1955]27itr1(sc) . it is clear, therefore, that the words 'derived from' in section 80hh of the income-tax act, 1961, must be understood as something which has direct or immediate nexus with the appellant's industrial undertaking. although electricity may ..... the guns is not derived from industrial undertaking so as to attract the provisions of sections 80hh and 80i of the income-tax act ?'8. shri h. s. shrivastava, learned senior counsel, appearing with shri sandesh jain for the appellant, has submitted that the learned income-tax appellate tribunal has erred in law in disallowing the deduction under sections 80hh and 80i of the .....

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Apr 30 2004 (HC)

Babulal Agrawal Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Decided on : Apr-30-2004

Reported in : (2005)194CTR(MP)369; [2005]272ITR454(MP); 2004(4)MPLJ513

..... , j.1. this is a reference under section 256(1) of the income-tax act, 1961 (for short 'the act of 1961'), whereby the income-tax appellate tribunal (for brevity 'the tribunal'), has referred the following question for answer by this court :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in allowing depreciation on the plinth platforms at ..... . the aforesaid definition is an inclusive definition. in this regard, we may profitably refer to the decision in the case of cit v. taj mahal hotel : [1971]82itr44(sc) where their lordships dealt with the concept of 'plant' under the indian income-tax act, 1922. in that case, their lordships were considering whether the sanitary fittings and pipe lines installed in the hotel constituted ..... plant within the meaning of section 10(5) of the act of 1922. in that context, their lordships held as under (page 47) :'now it is .....

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Oct 27 2004 (HC)

Commissioner of Income-tax Vs. Vindhyachal Distilleries Pvt. Ltd.

Court : Madhya Pradesh

Decided on : Oct-27-2004

Reported in : (2005)196CTR(MP)644; [2005]272ITR583(MP)

..... only from october 9, 1992, though installation was completed in may, 1992, and trial runs were commenced in may, 1992.5. section 32 of the income-tax act, 1961, provides that in respect of depreciation of buildings, machinery, plant or furniture owned by the assessee and used for the purposes of business or profession, ..... .2. feeling aggrieved, the department filed this appeal under section 260a of the income-tax act contending that the following question of law arises for consideration :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the assessee-company was entitled ..... was commissioned on october 9, 1992, and was put to use from that date. a further appeal preferred by the assessee was allowed by the income-tax appellate tribunal, indore bench, by order dated october 4, 2002, with a direction to the assessing officer to allow the claim of the assessee ..... plant was commissioned and put to use for less than 180 days, that is only from october 9, 1992. the commissioner of income-tax (appeals) by his order dated august 13, 1996, upheld the disallowance of depreciation of 50 per cent, of bio-gas plant. for this purpose, ..... at the cost of rs. 90,41,057 in may 1992. in the return for the assessment year 1993-94, it claimed depreciaiton. the income-tax officer while passing the order of assessment dated february 29, 1996, restricted the depreciation to 50 per cent, on the ground that the bio-gas .....

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Oct 29 2004 (HC)

Commissioner of Income-tax Vs. Makal Suta Cotton Co. P. Ltd.

Court : Madhya Pradesh

Decided on : Oct-29-2004

Reported in : (2005)198CTR(MP)675; [2005]275ITR54(MP)

..... substantial questions of law arise on the facts and circumstances of the case for consideration :(i) whether the income-tax appellate tribunal was justified in law in quashing the order passed by the commissioner of income-tax under section 263 of the income-tax act, 1961 ?(ii) whether the income-tax appellate tribunal was justified in law in holding that the order passed by the assessing officer cannot be ..... r.v. raveendran, c.j.1. this appeal by the revenue under section 260a of the income-tax act, 1961 ('the act' for short), is against the order of the income-tax appellate tribunal, indore bench, dated march 26, 2004, in i. t. a. no. 502/ind of 2003 relating to the assessment year 1998-99.2. the business of the respondent- ..... said to be erroneous as well as prejudicial to the interests of the revenue in view of the detailed reasoning given by the commissioner of income-tax, while passing order under .....

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Jan 29 2004 (HC)

New United Construction Company Vs. Commissioner of Income Tax

Court : Jharkhand

Decided on : Jan-29-2004

Reported in : (2004)190CTR(Jharkhand)116; [2004]270ITR214(Jharkhand); [2004(2)JCR116(Jhr)]

..... of the assessing officer imposing penalty.5. the assessee sought a reference of five questions in his application under section 256(1) of the income tax act, filed before the income tax appellate tribunal, which decided that the question that really arose for decision was the one that has been quoted above by us in the ..... case. therein, the full bench of the patna high court considered the effect of the amendment brought about to section 271(1) of the income tax act and the addition of the explanation and noticed that the burden had shifted to the assessee from the department to offer a reasonable explanation for ..... assessment became final, the assessee not having appealed against it.3. the assessing officer initiated penalty proceedings under section 271(1)(c) of the income tax act for concealment of the above two sums totalling rs. 3.43.239/-. the assessee resisted the penalty proceedings by submitting that he had included the ..... a revised return was accepted by the department, no penalty could be imposed under section 271(1)(c) of the income tax act.8. we find that the legal position is really covered by the decision of the supreme court in k.p. madhusudhanan v. commissioner of ..... , penalty was liable to be imposed. the kerala high court as follows :'section 271(1)(c) of the income tax act, 1961, is attracted where in the course of any proceedings under the act, the assessing officer or the first appellate authority is satisfied that (a) any person has concealed the particulars of .....

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Mar 17 2004 (HC)

industrial Development Corporation of Orissa Ltd. Vs. Commissioner of ...

Court : Orissa

Decided on : Mar-17-2004

Reported in : 98(2004)CLT363; [2004]268ITR130(Orissa)

..... per cent. on the plant and machinery in question was in any way erroneous so as to justify interference by the commissioner of income-tax under section 263 of the income-tax act, 1961 (2) whether the decision of the commissioner of income-tax that the sale and the lease back agreement is a colourable device with which the tribunal appears to have concurred is based upon ..... a. k. patnaik, j.1. this is an appeal under section 260a of the income-tax act, 1961 (in short, 'the act'), against the order dated february 7, 2003, of the income-tax appellate tribunal, cuttack bench, cuttack (hereinafter referred to as 'the tribunal), in i. t. a. no. 280/ctk of 2001.2. the facts as narrated in the impugned order of ..... was received by the appellant and the appellant believed that the matter was dropped.4. but on march 8, 2001, the commissioner of income-tax, bhubaneswar (in short, 'the commissioner'), issued a notice under section 263 of the act to the petitioner proposing to modify/set aside the said assessment on the ground that it was erroneous and prejudicial to the interests of ..... question was in any way erroneous so as to justify interference by the commissioner under section 263 of the act. in the order dated march 29, 2001, of the commissioner under section 263 of the act, the commissioner has taken the view that the income-tax rules provide for 100 per cent. depreciation on specific energy saving devices as mentioned in rule 5, appendix .....

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Feb 16 2004 (SC)

Prakash Nath Khanna and anr. Vs. Commissioner of Income Tax and anr.

Court : Supreme Court of India

Decided on : Feb-16-2004

Reported in : 2004CriLJ3362; (2004)187CTR(SC)97; [2004]266ITR1(SC); JT2004(2)SC510; 2004(2)SCALE512; (2004)9SCC686

..... act. it follows that return was furnished in 'the due time' and consequently section 276cc is not attracted.2. the provisions ..... return furnished under section 139(1). this was so held by this court in commissioner of income tax punjab v. kullu valley transport co. pvt. ltd. : [1970]77itr518(sc) in the context of sections 22(1) and 22(3) of the indian income tax act, 1922 (in short the 'old act') which are in pari-materia of section 139(1) and section 139(4) of the ..... round the scope and ambit of section 276cc of the income tax act, 1961 (in short the 'act'), and are directed against a common judgment rendered by a division bench of the himachal pradesh high court which rejected the three writ petitions filed by the appellants in these two appeals. the assistant commissioner of income tax, circle i, shimla filed a complaint in terms of section ..... 276cc of the act in the court of the cjm who had issued process of taking cognizance of the offence. in each of the writ applications, challenge .....

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