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Judgment Search Results Home > Cases Phrase: income tax act Year: 2004 Page 6 of about 7,074 results (0.096 seconds)

Dec 16 2004 (HC)

NitIn P. Shah Alias Modi Vs. Dy. C.i.T.

Court : Gujarat

Decided on : Dec-16-2004

Reported in : (2005)194CTR(Guj)306; [2005]276ITR411(Guj)

..... set aside. rule made absolute.special civil application no. 3960 of 2004.52. the petitioner has, by way of this petition challenged notice issued under section 148 of the income tax act,1961 (the act) dated 28/3/2003 (annexure-a) issued by the respondent seeking to reopen the assessment for assessment year 1996-97, on the ground that the said action is bad ..... lacs by treating deposit of rs. 67.75 lacs with l.t.shroff group as being unexplained investment under section 69 of the income tax act,1961 (the act) on 31/3/2000. the said order came to be challenged before cit (appeals) who for the reasons stated in his order dated 15/3/2001 set aside the assessment with a direction to the assessing ..... lacs?(iii) whether the appellate tribunal was right in law and on facts in up-holding the directions of the cit(a) that the provisions of section 158bd of the income tax act were not applicable in this case with regard to bringing to tax the amount of rs. 67.75 lacs ?'18. mr. m.r.bhatt, learned advocate appearing on behalf of the appellant ..... novo'?(b) whether the appellate tribunal was right in law and on facts in up-holding the directions of the cit(a) that the provisions of section 158bd of the income tax act were not applicable in this case with regard to bringing to tax the amount of rs. 67.75 lacs ?'17. having heard learned advocates for the parties the appeal is admitted on .....

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May 18 2004 (HC)

M.V. Ganesh and Mrs. Rajee Viswambaran Vs. the Commercial Tax Officer,

Court : Chennai

Decided on : May-18-2004

Reported in : [2005]141STC236(Mad)

..... of india answered in the negative holding that it would be wrong to think that while acting under the income-tax act, the income-tax officer need not look to the law governing the partnership which is seeking registration and that it would probably have been a different ..... partnership with ten other persons to conduct the business. application for grant of registration to the said firm under sections 184 and 185 of the income tax act, 1961 was made. the question arose in that case was as to whether the request for such registration could be granted. the supreme court ..... on 7th october, 1944. but the said association was dissolved after the close of the accounting year. when notice under section 34 of the income-tax act was issued to the petitioner in 1950, he returned it stating that the business was being managed by one rowther and hence the notice should ..... names of the partners should be run by the partnership. an application was made for registration of the firm under section 26a of the indian income-tax act, 1922, which was rejected for the reason that the formation of a partnership with regard to arrack and toddy shops was prohibited by abkari ..... matter if the income-tax act had specifically provided that the registration can be granted notwithstanding that the partnership is violative of any other law. in the said judgment .....

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Jul 12 2004 (HC)

Commissioner of Income Tax Vs. Trichy Distilleries Chemicals Ltd.

Court : Chennai

Decided on : Jul-12-2004

Reported in : [2005]272ITR227(Mad)

..... deposit for allotment of maruti car and dividend received from the company are to be excluded while computing the income from eligible business under section 32ab of the income tax act is valid in law?'3. section 32ab of the income-tax act, 1961 provides a benefit to the assessee, who deposits any amount in a development bank before the expiry of ..... relief/deduction under section 32ab of the act. aggrieved by the same, the assessee filed an appeal before the commissioner of income -tax (appeals), who held that the assessing officer has acted upon the direction issued by the commissioner of income tax under section 263 of the income tax act. accordingly, the commissioner of income tax (appeals) partly allowed the appeal for the ..... assessment year 1988-89, against which the assessee preferred an appeal before the income tax appellate tribunal for the ..... rs. 30,84,820/-. the assessment was completed on 29.12.1988 determining the total income at rs. 92.02 lakhs. the commissioner of income-tax tamilnadu - ii, exercising power under section 263 of the income-tax act had set aside the original assessment dated 28.7.1988 by giving directions to the assessing officer to reconsider the working of .....

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Jul 13 2004 (HC)

Commissioner of Income Tax Vs. Kwality Textile Associate Pvt. Ltd.

Court : Chennai

Decided on : Jul-13-2004

Reported in : [2005]272ITR371(Mad)

..... of export of textile spares and equipments. for the assessment year 1988-89, the assessment was completed on 24.3.1994 under section 143(3) read with 263 of the income tax act. the assesee disputed the assessability of an amount of rs. 39,20,252/- being the fees received for technical and engineering services rendered by the assessee outside india. according to ..... it is intended under the double taxation avoidance agreement between india and malaysia that, even though it is possible for a resident in india to be taxed in terms of sections 4 and 5 of the income tax act, 1961, if he is deemed to be a resident of contracting state where his personal and economic relations are closer, then his residence in india ..... agreement since the assessee had no permanent establishment in india?3. whether on the facts and in the circumstances of the case, the income tax appellate tribunal was right in law in not considering section 80-o of the income tax act as the entire receipt is taxable in india subject to the deduction, as mentioned in the above section?'2.1. in brief, the ..... the assessing officer, this was assessable as income from india subject to the deduction of 50% admissible under section 80-o of the income tax act. the assessee contended that the income was totally exempt as the amount was received from malaysia and as per the double taxation avoidance agreement between india .....

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Sep 07 2004 (HC)

Commissioner of Income Tax-i Vs. G.R. Govindarajulu and Sons Charities

Court : Chennai

Decided on : Sep-07-2004

Reported in : (2005)193CTR(Mad)323

..... as set apart for use in following year, was not necessary to give notice of accumulation by complying with the statutory requirements of section 11(2) of the income tax act read with section 17 of income tax rules?'4.1. in brief, the assessee claims to be a public charitable trust engaged in promotion of educational activities. for the assessment year 1994-95, the ..... the revenue. 7.1. the division bench of this court interpreting the provisions under section 11(1)(a) of the income tax act in the case of commissioner of income tax, tamilnadu v. c.m.kothari charitable trust : [1984]149itr573(mad) held that the income of the assessee was completely exempt on a combined application of sections 11(1)(a) and 11(2) of all the ..... result which can follow. it is also to be kept in view that under the earlier income-tax act 1922 exemption was available to charitable trusts without any restriction upon the accumulated income. there was a change in this respect under the present act 1961. under the present act, any income accumulated in excess of 25% or rs.10,000 whichever is higher, is taxable under ..... order dated 16.4.2004 made in ita no.1925/mds/1998 reversing the order of the assistant commissioner, income tax department, central circle ii, coimbatore by granting exemption to the respondent/assessee under section 11(1)(a) of the income tax act (hereinafter referred to as act) . 3. the appellant/revenue raised the following substantial questions of law for our consideration:'i. whether on .....

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Sep 07 2004 (HC)

The Commissioner of Income-tax Vs. A. Radhakrishnan

Court : Chennai

Decided on : Sep-07-2004

Reported in : [2004]271ITR109(Mad)

..... transfer of assets in respect of sections 60, 61 and 62 of the income tax act, held that section 60 of the income tax act has its applicability only to the case where the income accrues to the transferee but the income earning assets or source of income remains with the transferor. section 63 of the income tax act contains a rather special definition of 'transfer' for the purpose of sections 60 ..... asset has been transferred to the trust, the transfer made by the assessee is not hit by the provisions of section 60 of the income tax act and in that view of the matter, the appellate tribunal deleted the income earned from the property at the hands of the assessee.4. in the above said factual matrix, at the instance of this court, the ..... because of the existence of that agreement to transfer, the supreme court held that the applicability of section 60 of the income tax act is ruled out and totally excluded.10. the principle laid down in dalmia cement ltd. v. commissioner of income tax, referred supra, is squarely applicable to the facts and circumstances of this case, as in the case on hand also, apart ..... of the assessee has been negatived by the assessing officer by referring section 60 of the income tax act and brought to tax in the hands of the assessee the income from the said mansions for the two assessment years referred to above.3. on appeal, the commissioner of income tax (appeals) confirmed the the order of the assessing officer. on further appeal, the appellate tribunal held .....

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Sep 08 2004 (HC)

The Assistant Commissioner of Income Tax Vs. A.R. Enterprises

Court : Chennai

Decided on : Sep-08-2004

Reported in : (2005)194CTR(Mad)44; [2005]274ITR110(Mad)

..... .1. in brief, the respondent/assessee is a partnership firm. a search was conducted by the revenue authorities under section 132 of the income tax act (for brevity 'the act') on 23.2.1996, pursuant to a warrant of search issued by the competent authority to search m/s.a.r.mercantile private limited at 26, fagun chambers, commander-in- ..... by the income tax officer but depends on the enactment by any central act prescribing rate or rates for any assessment year ..... taken into consideration while deciding on the undisclosed income of the assessee.5. a full bench of the gujarat high court in saurashtra cement & chemical industries ltd. v. income tax officer : [1992]194itr659(guj) , held as follows:'the scheme of the act, therefore, clearly indicates that liability to pay income tax chargeable under section 4(1) of the act does not depend upon the assessment being made .....

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Sep 21 2004 (HC)

The Commissioner of Income-tax, Tamilnadu-i, Madras Vs. Wheels India L ...

Court : Chennai

Decided on : Sep-21-2004

Reported in : (2005)197CTR(Mad)284; [2005]275ITR319(Mad)

..... or the case laws dealing with the definition of turnover under the state levy cannot be imported into section 80hhc of the income tax act, particularly, when such expressions are incorporated and explained in the provision itself.17. in view of the above discussion and in the ..... 1992-93. in these appeals, the assessing officer included the excise duty and sales tax collection in the total turnover of the assessee for computing the deduction under section ..... j.1. these appeals are filed under section 260a of the income tax act against the orders dated 18.02.2004 and 15.07.2003 made in i.t.a.no.701/mds/96 and i.t.a.no.562/mds/1996 on the file of the income tax appellate tribunal madras 'c' and 'b' bench respectively.2. ..... of the case, the tribunal was right in holding that sales-tax and excise duty (appeal no.726/2004) and excise duty (appeal no.181/2004) not to be included in the total turnover while computing the deduction under section 80hhc of the income-tax act, 1961?'3. the assessment years involved are 1990-91 and ..... 15. the other two decisions of calcutta high court and kerala high court as it follows the bombay high court judgment in the case of commissioner of income-tax v.sudarshan chemicals industries limited and others : [2000]245itr769(bom) to come to the conclusion, which we have arrived above, has not been discussed .....

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Oct 06 2004 (HC)

Commissioner of Income Tax Vs. Madurai Soft Drinks Pvt. Ltd.

Court : Chennai

Decided on : Oct-06-2004

Reported in : (2005)197CTR(Mad)480; [2005]276ITR607(Mad)

..... a reference of the following question to the punjab high court, viz., whether the collections by the assessee company described in its accounts are 'empty bottles return security deposits' were income assessable under section 10 of the income tax act. the punjab high court took the view that as a result of the amendment to the punjab excise rules made under the punjab excise ..... . since each bottle was an individual unit and all bottles together did not constitute a single integrated unit depreciation under the proviso to section 32(1)(ii) of the income tax (for brevity 'the act'), is allowable.5.2. as per the rules of interpretation, it is not the policy of the law to introduce complexity even when matters can be dealt with ..... act, which came into effect from 1.4.1948, the charges collected after that date were not covered by that judgment, and held that the amended rule made the ratio decidendi ..... the assessee is entitled to depreciation in respect of them under section 32(1)(ii) of the act.5.4. the said decision of the andhra pradesh high court in commissioner of income tax v. sri krishna bottlers pvt. ltd., referred supra, was confirmed by the apex court by a decision reported in : [1994]209itr85(bom) . 5.5. the view taken by the .....

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Jul 15 2004 (HC)

Tamilnadu Industrial Investment Corporation Ltd. Vs. Deputy Commission ...

Court : Chennai

Decided on : Jul-15-2004

Reported in : (2004)192CTR(Mad)521; [2004]270ITR566(Mad)

..... 1985-86 was completed under section 143(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), and after the completion of the assessment proceedings, the assessing officer found that the appellant had received a sum of rs. 4,09,344 by way of interest under section ..... the assessee would be an allowable expenditure as revenue expenditure under section 37 of the act. we are of the view that to get over such difficulty, the legislature should step in and make a suitable provision in the income-tax act providing for reduction of the amount of income in the year of receipt so that there may not be any difficulty in the ..... administration of tax law and the assessee is also not required to pay more tax than that is due by him. we find that the legislature has ..... , j.1. this is an appeal preferred by the assessee against the order of the income-tax appellate tribunal/ madras 'a' bench (hereinafter referred to as 'the appellate tribunal'), dated april 12, 2001, made in i. t, a. no. 1992/mds. of 1991 under section 260a of the income-tax act, 1961. the assessment year involved is 1985-86. the assessment for the assessment year .....

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