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Judgment Search Results Home > Cases Phrase: income tax act Year: 2012 Page 4 of about 1,977 results (0.147 seconds)

Feb 09 2012 (HC)

Ms.Gutta Anjaneyulu and Co.Rep. by Shri B Vs. Commissioner of Income-t ...

Court : Andhra Pradesh

Decided on : Feb-09-2012

..... no.1656(hyd)/1992 relating for the assessment year 1972-73. the order has been passed by the income tax appellate tribunal bench 'b', hyderabad, (hereinafter referred to as 'the tribunal').2. in this appeal under section 260a of the income tax act, 1961 (for short, 'the act') the following substantial questions of law have been framed for our consideration:"1) whether the tribunal's approach ..... an individual or as a hindu undivided family. while dealing with the question of the status of the assessee, the supreme court held as follows:"under the scheme of the income-tax act the "individual" and the "hindu undivided family" are treated as separate units of assessment and if a notice under section 34 of the ..... that the assessee has to prove the non-service of notice under sec.148 of the act and the "department has to prove the negative", is in conformity ..... the name 'gutta anajaneyulu & co.' as an aop.6. in view of the decision given by the aac, the assessment was reopened by the income tax officer (ito) by issuing a notice under section 148 of the act to the assessee in the status of an unregistered firm. after this notice, a fresh assessment was made on 11.08.1980 in the status .....

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Feb 20 2012 (HC)

Mrs.R.inbavalli Vs. the Income Tax Officer

Court : Chennai

Decided on : Feb-20-2012

..... extent, though we uphold the orders of the assessing officer and the appellate tribunal that the perquisites of business is profit under section 28)iv) of the income tax act, we set aside the orders of the lower authorities only insofar as the determination of rs.5,00,000/- in the absence of any details furnished by the ..... and 1998-99. the assessee is a dealer in electronic appliances, namely, tvs, vcrs, refrigerators and other home appliances. a survey under section 133a of the income tax act was conducted in the business premises of the assessee on 3.4.98 and the statements regarding various business activities were recorded and the books of accounts for the ..... and 1998-1999 respectively.judgment(judgment of the court was delivered by d.murugesan, j.)1. the assessee has filed the present tax case appeals under section 260a of the income tax act, 1961 against the order of the income tax appellate tribunal, chennai 'b' bench dated 24.2.2004 made in i.t.a.nos.969/mds/2002, 970/mds/ ..... .1: it is seen from the order of the assessing officer that a survey was conducted under section 133a of the act in the business premises of the assessee on 3.4.98 by the income tax officer, cib-ii, during which physical inventory of stock was taken and the books pertaining to the financial year 1996-97 ..... appeals under section 260a of the income tax act, 1961 against the order of the income tax appellate tribunal, chennai 'b' bench dated 24.2.2004 made in i.t.a.nos.969/mds/2002, 970/mds/2002, 971/mds/2002 .....

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Jan 27 2012 (HC)

Commissioner of Income-tax, VijayawadA. Vs. Ms.Vijaya Vani Educational ...

Court : Andhra Pradesh

Decided on : Jan-27-2012

..... common order: (per the hon'ble sri justice v.v.s.rao) in r.c.no.46 of 1998 under section 256 (1) of the income tax act, 1961 (the act), the income tax appellate tribunal, hyderabad bench 'a', hyderabad, had referred the following six questions for the opinion of this court. 1. whether on the facts and in the circumstances of the case ..... of the objects enables the institution to undertake commercial activities, it would not be entitled for approval under section 10(23c)(vi) of the act (american hotel and lodging association educational institute). (4) section 2(15) of the income-tax act defines "charitable purpose" to include "education". the sense in which the word "education" has been used in section 2(15) is the ..... "maabadi", "patasala" and vijaya vani printers and thereby infringed section 13(1)(c) of the act. the assessment was accordingly completed by the assistant commissioner of income tax, tirupathi, treating the assessee as a.o.p. with maximum marginal rate. the assessee's appeal before the cit (a) was allowed. while cancelling the assessment for both the years, the appellate commissioner directed the ..... , the revenue sought the reference under section 256(1). the senior counsel for income tax would submit that the assessee violated section 11(5) and section 13(1)(c) and therefore, became disentitled for the benefit under section 10(22) of the act. nextly, he would submit that cit (a) and the appellate tribunal ignored the violations and allowed exemption under section .....

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Feb 13 2012 (HC)

The Commissioner of Income Tax-i Vs. Ms Gec Alsthom India Ltd.

Court : Chennai

Decided on : Feb-13-2012

..... for all the purposes under section 195 of chapter xxxv of the code of criminal procedure, 1898. it has been conferred with such power under section 131 of the income tax act. that provision empowers the appellate tribunal to have the same powers that are vested in a court under the code of civil procedure, 1908, when trying a suit in ..... (2009) 317 itr 433 (shivsagar veg. restaurant v. assistant commissioner of income tax and another). as against the order of the commissioner of income-tax (appeals), the assessee or the revenue as the case may be preferred a further appeal to the income tax appellate tribunal under section 253 of the income tax act. the income tax appellate tribunal is constituted under the provisions of section 252 of the ..... re-calculation of the eligible profit under section 32ab by deleting the expected return of customs duty, which was not included in the computation of income is an error rectifiable under section 154 of the income tax act?2.the assessee is engaged in the manufacture of electrical items. the relevant assessment year is 1987-88 and the corresponding accounting year ended ..... act and the tribunal shall consist of as many judicial and accountant members. sub section (6) of section 255 reads as under : 255( .....

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Feb 13 2012 (HC)

The Director of Income Tax Vs. the Chartered Accountant Study

Court : Chennai

Decided on : Feb-13-2012

..... , etc., cannot be construed to be one of commerce in nature. the finding of the tribunal in this regard requires no interference.10. that apart, under section 12aa of the income-tax act, while considering the application, the officer has to satisfy about the genuineness of activities of the trust or the institution and for that reason, he may also make such enquiries ..... . on a challenge to the said order, mr.t.ravikumar, learned standing counsel for the revenue, would submit that in terms of first proviso to section 2(15) of the income-tax act, in the event the activities of the trust involve the carrying on of any activity in the nature of trade, commerce or business or any activity of rendering any service ..... for educational purposes, as may be decided by the committee.3. the assessee-trust filed an application in form 10g to the director of income-tax (exemptions), chennai for grant of renewal under section 80g of the income-tax act. the said request was rejected on the ground that the assessee was publishing and selling books of professional interest to be used as a reference ..... , etc. and its activities are commercial in nature and will fall within the amended provision of section 2(15) of the income-tax act. being aggrieved by the said order, the assessee preferred an appeal to the income-tax appellate tribunal.4. considering the materials placed before it, the tribunal found that inasmuch as the assessee was conducting courses and seminars and was also publishing .....

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Feb 10 2012 (HC)

The Commissioner of Income Tax Vs. Ms New Ambadi Estates P. Ltd.

Court : Chennai

Decided on : Feb-10-2012

..... learned counsel appearing for the revenue contended that the order passed by the tribunal is wrong since the transaction squarely falls within the purview of section 43(5) of the income tax act. the learned counsel contended that the tribunal ought to have appreciated that the non-convertible secured debentures were transferred in favour of the bank and not to the existing shareholder ..... partly convertible debenture is a capital loss?2.whether the tribunal was right in holding that there was delivery of share within the meaning of section 43 (5) of the income-tax act, 1961?3. the erstwhile company viz.,m/s new ambadi investments private limited, who was the assessee before the authorities below, was merged with m/s new ambadi estates private ..... in ita no.2041/mds/1997 for the assessment year 1993-1994.judgmentp.p.s.janarthana raja,j.1. the above tax case appeal is filed by the revenue under section 260a of the income tax act, 1961, against the order of the income tax appellate tribunal, 'b' bench, chennai, dated 28.10.2002 made in ita no.2041/mds/1997 for the assessment year 1993 ..... accounting year ended on 31.03.1993. for the said assessment year, the assessee filed its return of income on 31.12.1993 admitting the loss of rs.10,08,121/-. the said return was processed under section 143(1)(a) of the income tax act on 22.07.1994 and later taken up for scrutiny and notice was issued under section 143(2 .....

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Apr 27 2012 (HC)

Ms.Doshi Housing Limited. Vs. the Assistant Commissioner of Income Tax

Court : Chennai

Decided on : Apr-27-2012

..... could be seen that the respondent had issued a notice, dated 16.3.2011, for the re-opening of the assessment, under section 147 of the income tax act, 1961. however, in the said notice, issued by the respondent, it has not been stated that the petitioner had failed to fully and truly ..... behalf of the respondent, it has been stated that the assessment, in respect of the assessment year 2004-2005, under section 143(3) of the income tax act, 1961, had been completed, vide assessment order, dated 28.12.2006. in the said assessment order the deduction was disallowed on the ground that the ..... was operating only as a contractor and not as a builder in the light of the explanation to section 80ib(10) of the income tax act, 1961, introduced by the finance act, 2009, with retrospective effect, from 1.4.2001, it would not be open to the respondent to re-open the assessment on ..... issue a writ of certiorari to call for and quash the impugned notice, dated 16.3.2011, issued under section 148 of the income tax act, 1961, (hereinafter referred to as `the act') and the consequential proceedings, dated 25.11.2011, issued by the respondent, rejecting the objections raised by the petitioner, against the ..... truly all material facts necessary for the assessment year under consideration, the assumption of jurisdiction, by the respondent, under section 147 of the income tax act, 1961, after the expiry of four years, from the end of the relevant assessment year, is illegal and invalid. accordingly, the proceedings, under .....

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Apr 25 2012 (HC)

The Commissioner of Income Tax. Vs. Ms. T.T.G.industries Limited.

Court : Chennai

Decided on : Apr-25-2012

..... section 80ia of the income tax act, excluded the receipts of service charges, charges for transportation, erection and commission charges, labour charges and sale scrap to the tune of rs.77,27,918/- as not ..... labour charges, sale of scraps during manufacturing to be included as profits and gains of the industrial undertaking for the purpose of computation of deduction under section 80ia of the income tax act?2. the assessee herein is engaged in the manufacture of coke-oven and goose neck cleaning system for steel and other industries. the assessing officer while computing the deduction under ..... constituting the profits and gains of the industrial undertaking. the assessee preferred an appeal before the commissioner of income tax (appeals), who agreed with the assessee. the appellate authority pointed out that the amount represented part of the sale proceeds designated differently in order to get reduction in sales ..... before the tribunal, which confirmed the view of the commissioner of income tax (appeals). aggrieved by this, the revenue is on appeal before this court.3. in the decision reported in [2009] 317 itr 218 liberty india v. cit, the apex court considered the scope of section 80ia and 80ib of the act. the apex court pointed out that,"............. it is evident that .....

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Apr 25 2012 (HC)

Ms.Aktiengesellaschaft, Kunhle Kopp Vs. the Deputy Commissioner of Inc ...

Court : Chennai

Decided on : Apr-25-2012

..... further appeal before the tribunal. in paragraph 7 of the order of the tribunal, it is stated that the above stated relief would not fall under section 263 of the income tax act. the tribunal however viewed that the assessee was not precluded from raising this issue before the assessing officer for his consideration.14. as already pointed out when the tribunal ..... part of 1973 agreement, then the consequences of treating the second agreement as part of the original agreement should have been considered for applying the relevant statutory provisions under the income tax act and in consonance with the double taxation avoidance agreement.13. on the short ground that the assessee does not dispute the first question of law, we agree with the ..... above finding. in the circumstances, the tribunal committed a serious error in its view that granting of such relief would not fall within the jurisdiction of section 263 of the income tax act.9. per contra, learned standing counsel for the revenue supported the order of the tribunal.10. heard learned counsel for the assessee as well as learned standing counsel for ..... export sales, indigenous sales and lumpsum royalty. the assessee claimed that the receipt of the royalty on import sales was not taxable as per section 9(i)(iv) of the income tax act. thus, the assessee claimed exemption on export sales royalty and 50% of the royalty on indigenous sales as representing payment towards development of patent. the assessing officer, however, rejected .....

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Apr 26 2012 (HC)

The Commissioner of Income-tax. Vs. Ms.Lakshmi Vilas Bank.

Court : Chennai

Decided on : Apr-26-2012

..... is entitled to the bad debt written off as allowable, even though the same was hit by the provisions of section 36(1)(viia) of the income tax act, 1961? 2.whether on the facts and in the circumstances of the case, the tribunal was right in law in holding that the assessee is ..... section 260a of the income tax act against the order dated 10.12.2003 made in i.t.a.no.265/mds/1996 on the file of the income tax appellate tribunal, "c" bench, chennai for the assessment year 1992-93.(judgment of the court was delivered by chitra venkataraman,j.)1. this tax case (appeal) ..... and plant". admittedly, there is no definition of what 'machinery' is about. however, in the decision reported in (1964) 53 itr 165 (commissioner of income tax, madras vs. mir mohammed ali), the apex court referred to the decision of the privy council in the case of corporation of calcutta v. chairman, cossipore ..... a technical term and in the absence of any definition under the act, ordinary meaning would prevail. indeed rule 8 of the income tax rules treats aero-engines separately from aircraft, but this cannot be used to interpret the clauses in the act that what was purchased and installed was machinery and after installation, ..... a wider meaning has to be given to the said term.8. in the decision reported in (2000) 244 itr 192 (commissioner of income tax vs. anand theatres), the apex court applied this .....

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