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Judgment Search Results Home > Cases Phrase: income tax act Year: 2012 Page 6 of about 1,976 results (0.088 seconds)

Jan 04 2012 (HC)

Commissioner of Income Tax-i Vs. M/S.Tube Investments of India Ltd-i

Court : Chennai

Decided on : Jan-04-2012

..... . the next question is, whether, by virtue of the provisions under section 32 of sica, the scheme will have overriding effect on the provisions of the section 43b of the income tax act. for consideration of the said issue, it may be pointed out that in para 4.2.4 of the rehabilitation scheme formulated by the board in its order dated 14 ..... have overriding effect over the provisions of the income tax act in regard to the matters covered in circular no.523 dated 05.10.1988. 7. a reading of both the circulars would show that in the event a scheme has ..... under section 17(2). hence, it was clarified that the orders passed by the bifr under section 17(2) will not have the effect of overriding the provisions of the income tax act. however, subsequently, by circular no.576 dated 31.08.1990, it was further clarified that once the scheme is sanctioned under section 18 of sica by the board, it will ..... 576 are applicable to the facts of the case? secondly, whether the provisions of section 32 of sica would override the effect on the provisions of section 43b of the income tax act ? 6. as far as the said two circulars are concerned, having noticed that section 17(3) of sica excluded the application of sections 41(1), 79 and 115j of the .....

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Jan 27 2012 (HC)

Commissioner of Income Tax, VijayawadA. Vs. Ms.O.R.Distilleriesltd., T ...

Court : Andhra Pradesh

Decided on : Jan-27-2012

..... the same assessee, namely, m/s.o.r.distilleries ltd., tirupathi. in r.c.no.254 of 1996, the income tax appellate tribunal (itat) referred the following questions under section 256(1) of the income tax act, 1961 (the act), for opinion of this court. 1. whether on the facts and in the circumstances of the case, the itat is correct in holding that the article ..... .c.no.77 of 1997 pertaining to assessment years 1985-1986, 1986-1987 and 1989-1980. submissions4. the junior standing counsel for income tax would submit that section 32a(2)(iii) read with item 1 of eleventh schedule of the act does not enable the assessee to claim investment allowance as they are engaged in the manufacture and production of alcoholic spirits. according ..... or thing, viz., alcohol including rectified spirit and denatured spirit manufactured by the assessee company do not come under the ambit of eleventh schedule of the i.t.act, 1961? 2 ..... as to make statute workable). if any interpretation renders an act or any of its core provisions unworkable, such interpretation should be avoided unless the legislative intention is clear and unambiguous (saurabh chaudri v union of india8, commissioner of income tax v lakshmi machine works9 and k.p.mohammed salim v commissioner of income tax10). in tinsukhia electric supply company limited v state of .....

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Jan 27 2012 (HC)

Commissioner of Income Tax, VijayawadA. Vs. Ms.O.R.Distilleries Ltd., ...

Court : Andhra Pradesh

Decided on : Jan-27-2012

..... the same assessee, namely, m/s.o.r.distilleries ltd., tirupathi. in r.c.no.254 of 1996, the income tax appellate tribunal (itat) referred the following questions under section 256(1) of the income tax act, 1961 (the act), for opinion of this court. 1. whether on the facts and in the circumstances of the case, the itat is correct in holding that the article ..... .c.no.77 of 1997 pertaining to assessment years 1985-1986, 1986-1987 and 1989-1980. submissions4. the junior standing counsel for income tax would submit that section 32a(2)(iii) read with item 1 of eleventh schedule of the act does not enable the assessee to claim investment allowance as they are engaged in the manufacture and production of alcoholic spirits. according ..... or thing, viz., alcohol including rectified spirit and denatured spirit manufactured by the assessee company do not come under the ambit of eleventh schedule of the i.t.act, 1961? 2 ..... as to make statute workable). if any interpretation renders an act or any of its core provisions unworkable, such interpretation should be avoided unless the legislative intention is clear and unambiguous (saurabh chaudri v union of india8, commissioner of income tax v lakshmi machine works9 and k.p.mohammed salim v commissioner of income tax10).9. in tinsukhia electric supply company limited v state .....

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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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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 27 2012 (HC)

Ms.Arun Excello Foundations Private Ltd. Vs. the Deputy Commissioner o ...

Court : Chennai

Decided on : Apr-27-2012

..... could be seen that the respondent had issued a notice, dated 25.3.2011, 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 27.3.2006. 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 25.3.2011, issued under section 148 of the income tax act, 1961, (hereinafter referred to as `the act') and the consequential proceedings, dated 28.9.2011, 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 27 2012 (HC)

Ms.Prime Urban Development India Limited Vs. the Income Tax Officer

Court : Chennai

Decided on : Apr-27-2012

..... on the file of the second respondent, the impugned notices had been issued attaching the bank accounts of the petitioner, invoking the relevant provisions of the income tax act, 1961, in order to safe-guard the interest of the revenue. he had further submitted that the petitioner may be directed to pay a substantial ..... the assessee. it had also been stated that the notices would have the same effect as an attachment of debt, under section 222 of the income tax act, 1961.4. the learned counsel appearing on behalf of the petitioner had submitted that the amount said to be due from the assessee has been ..... assessee, under section 220(6) of the income tax act, 1961, pending disposal of the appeal filed by the assessee.3. it has been stated that the impugned notices, dated 21.2.2012, had been ..... .2. this writ petition has been filed challenging the notices, dated 21.2.2012, issued by the first respondent, under section 226(3) of the income tax act, 1961. the petitioner had further prayed for a direction to direct the second respondent to dispose of the application, dated 6.2.2012, filed by the ..... quash the same and direct the second respondent herein to dispose of the application dated 6.2.2012 filed by the assessee u/s 220(6) income tax act, 1961, seeking non enforcement of demand pending disposal of appeal pending before the second respondent.o r d e r1. heard the learned counsel for .....

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Apr 25 2012 (HC)

Ms. Sivanandha Mills Ltd. Vs. the Assistant Commissioner of Income Tax

Court : Chennai

Decided on : Apr-25-2012

..... , after deducting the commission paid for sale as well as the expenses incurred by the petitioner/company to perfect the title of the property.7. the income was assessed under the provisions of the income tax act, the income tax officer, disallowed the cost incurred to perfect the title and the commission paid for sale and raised a demand of rs. 10,77,71,300/- (rupees ..... the constitution of india for the issuance of writ of certiorari, to call for the records, in notice of demand under section 156 of the income tax act in pan no.aakcs7439j/2009-10, dated 31.12.2011, and to quash the same.common o r d e r1. this judgment shall dispose of the following writ petitions ..... dispose of the application dated 12.3.2012, filed by the assessee under section 220 (6) of income tax act, 1961, seeking non enforcement of demand pending disposal of appeal pending before the second respondent.prayer in writ petition no.6609 of 2012:-writ petition filed under article 226 of ..... filed under article 226 of the constitution of india for the issuance of writ of certiorarified mandamus, to call for the records, in notices under section 226(3) of the income tax act in pan no.aakcs7439j/2009-10, dated 06.03.2012,on the file of the first respondent herein and to quash the same and to direct the second respondent to .....

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Jun 18 2012 (HC)

Commissioner of Income Tax. Vs. Shri Renuga Textiles Mills Limited

Court : Chennai

Decided on : Jun-18-2012

..... c.i.t, relied on by the revenue, the apex court held that in order to attract the provisions of section 41(1) of the income tax act, 1961, the identity of the assessee in the earlier year in which deduction was granted in relation to a trading liability and in the subsequent year ..... the tribunal in respect of second question of law.3. as far as the first question of law on the claim on section 10b of the income tax act, is concerned, following details need to be seen. the assessment year under consideration is 1994-95. the assessee herein was the holding company and ..... of the sum which was claimed as trading liability at the hands of the amalgamated company. but, then it was not liable to tax under section 41(1) of the income tax act, 1961. the apex court pointed out that upon amalgamation, the amalgamating company ceased to exist and the assessee company was a separate ..... deduction under section 80-i of the act. the commissioner of income tax (appeals) directed the assessing officer to verify the same. otherwise it agreed with the assessee's contention that it was entitled to claim under ..... company. this arrangement was approved by the government by its order dated 8.4.94. referring to section 10b (2)(iii) of the act, the commissioner of income tax (appeals) held that there was no violation of the said provision. hence, the only question was as to whether the assessee was granted .....

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Jun 04 2012 (HC)

Ms. Premier Synthetic Industries. Vs. the Income Tax Officer

Court : Chennai

Decided on : Jun-04-2012

..... . in fact he observed that the assessee had purchased the loss and hence, could not be allowed under any of the provisions of the income tax act, 1961. the officer who passed the order had considered every aspect of the transactions in detail and commented the manner in which he dealt with ..... shares?"2. the assessee herein is a partnership firm. the return originally filed by the assessee was accepted under section 143(3) of the income tax act. subsequently, while scrutinising the assessment for the assessment year 1988-89, it was found that the assessee had claimed short term capital loss on ..... 1988-89. accordingly, the assessment for assessment year 1987-88 was sought to be reopened under section 147 of the income tax act. the assessee went on appeal before the commissioner of income tax (appeals), who found the modus operandi adopted to purchase the shares of the premier mills limited and subsequent sale ..... sold by the assessee to the sister concern by name m/s. belathur investments private limited.3. a perusal of the order of the income tax officer shows that initially the assessee had 54390 shares in m/s. premier mills limited in the name of capricorn general finance private limited, ..... were all colourable device, as such, the claim of capital loss was rejected. aggrieved by the same, the assessee went on appeal before the income tax appellate tribunal, which remanded the matter back to the officer for a fresh consideration based on the records. as far as the assessment year 1988 .....

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