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Judgment Search Results Home > Cases Phrase: income tax act Year: 2012 Page 11 of about 1,976 results (0.100 seconds)

Apr 26 2012 (HC)

Sahni International Pvt. Ltd. and Another Vs. Nisha Raj and Others

Court : Delhi

Decided on : Apr-26-2012

..... 1986 is valid and enforceable in view of subsequent no objection certificate dated 26.04.1984 granted by the appropriate authority u/s 269 ud of the income tax act? opp 4. whether the agreement to sell dated 30.09.1986 is illegal, invalid and unenforceable as being contrary to the terms of the sub-lease ..... .1986 vide ex.pw-1/4. thereafter, form no.37(i) was filed under section 269uc of the income tax act seeking clearance under chapter-xx(c). 3. vide order dated 26.12.1986 (ex.pw-1/5), the appropriate authority directed the pre-emptory purchase of ..... part sale consideration on 30.09.1986 itself. 2. being the requirement of law, an application (ex.pw-1/3) under section 230(a) of the income tax act was filed by the seller seeking permission to sell the said property in favour of the respondents no.1 and 2. the permission was granted on 30.10 ..... by the board of directors. in 1994, i was aware of the provisions of section 269 of the income tax act, which required taking of approval from the income tax authority before sale or purchase of property. i was acting as attorney in the year 1994 for mr.pawan kaula and his father and his two brothers. i might ..... restore possession. 5. on 06.05.1994, respondent no.1 and 2 mrs.nisha raj and ranjit raj offered to refund `29 lakhs to the income tax authorities, to which the income tax authorities did not respond. 6. the seller, mrs.vijay malini kaula died in june 1994. respondents no.1 and 2 i.e. mrs.nisha .....

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Sep 05 2012 (HC)

Larsen and Toubro Limited Vs. the Commissioner of Income-tax

Court : Mumbai

Decided on : Sep-05-2012

..... on the facts and in the circumstances of the case, the tribunal erred in holding that the assessee was not entitled to the weighted deduction under section 35b of the income-tax act, 1961 in respect of bank interest and bank charges of rs.28,20,501/- incurred by it on export packing credit facilities? (2) whether on the facts and in the ..... s.j. vazifdar, j. 1. this is a reference under section 256(1) of the income tax act, 1961. the income tax appellate tribunal, by an order dated 24th october, 1988, dismissed the applicant's appeal being ita no. 2983/bom/84, against the order of the commissioner of income-tax (appeals) pertaining to assessment year 1980-81. the tribunal has referred the following questions of law for ..... division bench of this court in kec international limited v. commissioner of income-tax (2010) 322 itr 465. the division bench held as under:- in our view, the views taken by the andhra pradesh high court, calcutta high court, madras high court are correct ..... foreign party and that these accounts were different from the normal cash credit accounts. 4. mr. mistri relied upon the judgment of the madhya pradesh high court in commissioner of income tax v. vippy solvex product pvt. ltd. (1986) 159 itr 487. it is not necessary to refer to the judgment in detail for it has admittedly been dissented from by a .....

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Aug 06 2012 (HC)

Director of Income Tax (international Taxation) Vs. Balaji Shipping Uk ...

Court : Mumbai

Decided on : Aug-06-2012

..... meaning ascribed to it in section 44 b as the context in which it is used does not require it to be construed differently. 17. section 44(b) of the income tax act, 1961 reads as under:- 44-b. special provision for computing profits and gains of shipping business in the case of nonresidents. (1) notwithstanding anything to the contrary contained in sections ..... s.j. vazifdar, j. 1. these appeals under section 260-a of the income tax act, 1961 are against a common order of the income tax appellate tribunal dated 13.8.2008 in income tax appeal nos.1540/mum/05 and 2392/mum/06 pertaining to the assessment years 2001-2002 and 2002-2003. 2. by an order dated 29.9.2010, the appeal was ..... are these. the respondent filed its return of income on 5.10.2001 declaring a total income of rs.3,00,25,837/-. it showed gross receipts pertaining to freight in the sum of rs.40,03,44,489/-. relying upon section 44b of the act, the respondent computed its profits and gains chargeable to tax at 7.5% of these receipts to be ..... of slot chartering would form a part of income from operations of ships exempt under article 9 of the tax treaty between india and uk? 2) whether the income of the respondent on account of slot chartering and use of containers in india is taxable under section 44 b or 28 to 43 of the act? 3. as regards the second question, we have .....

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Jul 09 2012 (HC)

The Director of Income Tax (international Taxation) Mumbai Vs. M/S. Cr ...

Court : Mumbai

Decided on : Jul-09-2012

..... of an enduring or lasting nature as observed by the tribunal. further more, such `interest' would not answer the description `interest on securities' under the income-tax act, 1961 (`act' for short), and it matters not whether such `interest' had been separately shown as having been purchased. what was purchased in the transaction is only the ..... each day during these periods. we are unable to agree. whatever be the connotation of the term accruing in general parlance, for the purpose of the income tax act, interest does not accrue during such periods to the creditor / assessee. for want of a better term, it may be said that during such periods ..... claim of every kind and a debt-claim arises on account of a transaction that creates a debtorcreditor relationship. 30. thus, under the income tax act, 1961, as well as under the dtaa, the position remains the same at least so far as such securities are concerned viz. ..... oral judgment: [s.j. vazifdar, j.] 1. this is an appeal under section 260-a of the income tax act, 1961 against the order of the income tax appellate tribunal (itat) dismissing the appellant's appeal and allowing, in part, the respondent's cross objections. the appeal is admitted ..... securities which provide for payment of interest on a particular date or at stated intervals. 31. mr. kaka relied upon the model tax convention on income tax and on capital (22nd july, 2010) which supports our view. article 11(3) thereof is identical to article 11(4) of the dtaa. it .....

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Sep 14 2012 (HC)

Zuari Agro Chemicals Limited Vs. the Commissioner of Income Tax, Centr ...

Court : Mumbai

Decided on : Sep-14-2012

..... the provision of services of technical personnel within the expression technical services, it provided the same expressly such as in sections 44-d, 115-a and 194-j of the income tax act. these three provisions adopt the definition of technical services in section 9(1)(vii). 11. the submission is not well founded, in any event, as an absolute proposition of law ..... and 1982-83. 2.(a) the tribunal has referred the following questions for the opinion of this court, at the instance of the assessee under section 256(1) of the income tax act, 1961: assessment year : 1981-82 1) whether on the facts and in the circumstances of the case, the tribunal erred in holding that the sum of japanese yen 2,973 ..... not be considered as income from business operations. he held that the receipts in the hands of toyo were in the nature of fees for technical services and that the ..... an enterprise shall be treated as income from sources within the contracting state in which are rendered the services for which such fees paid. 8. the ito held that the receipt of the said amounts in the hands of toyo constituted fees for technical services within the meaning of section 9(1)(vii) of the income tax act, 1961 and that the same could .....

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Sep 11 2012 (HC)

Gupta Coal (India) Limited, Rep. by Its Authorised Signatory, Sumith R ...

Court : Karnataka

Decided on : Sep-11-2012

..... particular object as mentioned supra. merely because it is open for petitioner no.1 to submit the income tax returns before the concerned income tax authority within one year as per section 139(4) of the income tax act, the respondent no.1 is not expected to wait for one more year by deviating from the ..... financial year 2010-11 is a mere procedural delay, for which specific exception has been provide under the provisions of section-139 of the income tax act, 1961; the delay on the part of the 1st petitioner is neither intentional nor a deliberate breach of fulfillment of the conditions set ..... time before the expiry of one year from the end of the relevant assessment year under section 139(4) of the income tax act. however, according to the petitioners, the 1st respondent intimated the 1st petitioner by an oral communication that the time of file the acknowledged copy ..... 3.3.2012 bringing to the notice of the 1st respondent that as per section 139(4) of the income tax act, the petitioners have got opportunity to submit the returns before the income tex authority at any time before the expiry of one year from the end of the relevant assessment year. ..... terms and conditions stated therein are not strictly adhered to and necessary relaxation is permitted wherever necessary and desired; since the petitioners have filed the income tax returns as required and produced the acknowledgement after submission of the techno-commercial bid within the extended time, 1st respondent ought not to have .....

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Oct 08 2012 (HC)

Commissioner of Income Tax, Chennai Vs. Allu Arvind Babu, Chennai

Court : Chennai

Decided on : Oct-08-2012

..... 154 itr 148 (mc dowell & co. ltd. v. cit) holding that it was a colourable device adopted by the assessee. the commissioner of income tax (appeals) viewed that the transaction of purchasing the units, ..... assessee referred to the decision of the apex court reported in 326 itr 1 (commissioner of income-tax v. walfort share and stock brokers p. ltd.), wherein the apex court considered the effect of section 94(7) as well as section 14 a of the income tax act and ultimately upheld tribunal's order in favour of the assessee. leaving that aside, learned ..... counsel referred to the decisions reported in (1965) 58 itr 328 (griffiths (inspector of taxes v. j.p.harrison (watford) ltd.), (1959) 35 itr 594 (g.venkataswami naidu & ..... the sole purpose was to avoid and reduce his tax liability. the assessee had followed the same modus operandi in the subsequent year resulting in a capital loss and the assessee had also claimed deduction under section 80 m of the income tax act on the dividend income. pointing out to these aspects, the commissioner of income tax (appeals) followed the decision reported in (1985) .....

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Nov 02 2012 (HC)

Commissioner of Income Tax Vs. M/S. True Value Homes (India) P. Ltd.

Court : Chennai

Decided on : Nov-02-2012

Reported in : 2013(1)MLJ55

(appeal under section 260-a of the income tax act against the order dated 24th june, 2011 made in i.t.a.no.556/mds/2011 on the file of the income tax appellate tribunal, madras 'a' bench for the assessment year 2006-07.) chitra venkataraman, j. this tax case (appeal), filed by the revenue as against the order of the income tax appellate tribunal relating to the assessment ..... a completion certificate from the chennai metropolitan development authority would stand in the way of granting relief to the assessee. accordingly, the order of the tribunal stands confirmed and this tax case (appeal) stands dismissed. no costs.

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Oct 31 2012 (HC)

infrastructure Development Finance Co. Ltd Itc Centre, Chennai Vs. the ...

Court : Chennai

Decided on : Oct-31-2012

..... also are answered in favour of the assessee. as far as the fourth question of law is concerned, as already stated, since the commissioner of income tax (appeals) had not complied with section 251(2) of the income tax act, without going into the merits of the claim, we have no hesitation in setting aside the order of the tribunal and restore the matter back ..... the relief and as such, when there was no grievance before the first appellate authority, in the event of the commissioner of income tax (appeals) considering any enhancement to be ordered on assessment, going by section 251(2) of the income tax act, the appellate authority should have granted a reasonable opportunity to the assessee to show cause against such enhancement. he further pointed out ..... 49,77,552/- is concerned, the assessing officer accepted the assessee's claim for deduction under section 37 of the income tax act and the income was thereupon computed. thus, the only question which was the subject matter of dispute before the commissioner of income tax (appeals) was relating to the assessment of interest amount to the tune of rs.3,10,43,664/- as against ..... assessment, which was not the subject matter of the appeal, it is no doubt true that section 251 of the income tax act provides for such authority and jurisdiction to enhance the assessment. but, then, sub section (2) of section 251 of the act, stated that such authority could be exercised only subject to the assessee being given a reasonable opportunity to show cause .....

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Sep 14 2012 (HC)

Zuari Agro Chemicals Limited Vs. the Commissioner of Income Tax, Centr ...

Court : Mumbai

Decided on : Sep-14-2012

..... the provision of services of technical personnel within the expression ??technical services ? , it provided the same expressly such as in sections 44-d, 115-a and 194-j of the income tax act. these three provisions adopt the definition of ??technical services ? in section 9(1)(vii). 11. the submission is not well founded, in any event, as an absolute proposition of law ..... and 1982-83. 2.(a) the tribunal has referred the following questions for the opinion of this court, at the instance of the assessee under section 256(1) of the income tax act, 1961: ??assessment year : 1981-82 1) whether on the facts and in the circumstances of the case, the tribunal erred in holding that the sum of japanese yen 2,973 ..... not be considered as income from business operations. he held that the receipts in the hands of toyo were in the nature of fees for technical services and that the ..... an enterprise shall be treated as income from sources within the contracting state in which are rendered the services for which such fees paid. ? 8. the ito held that the receipt of the said amounts in the hands of toyo constituted fees for technical services within the meaning of section 9(1)(vii) of the income tax act, 1961 and that the same could .....

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