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 .....Tag this Judgment!
Court : Chennai
Decided on : Apr-25-2012
..... prayer: appeal filed under section 260a of the income tax act, 1961 as against the order of the income tax appellate tribunal, chennai bench 'd' dated 28th february 2005 in i.t.a.no. 499/mds/1998. (judgment of the court was delivered by ..... appearing for the assessee submitted that the said issue is covered by the decision reported in  225 itr 298 (shibu soren and others vs commissioner of income-tax).4. this leaves us with the last question of disallowance of rs.1,50,420/- as 'entertainment expenditure' as hit by explanation 2 to section 37(2a ..... was covered by section 37(2a). hence, addition of rs.1,50,420/- was made in this behalf. the commissioner of income tax (appeals) affirmed the view of the assessing officer. so too the income tax appellate tribunal.5. it is seen from the reading of section 37 that the ceiling which was there for grant of deduction ..... on the entertainment expenditure under sub section (2) and (2a) was however removed by the substitution of sub section (2) under finance act of 1992 with effect from ..... provided by the assessee to his employees in office, factory or other place of their work. "the above-said provision was however omitted by the finance act 1997 with effect from 1.4.1998. in matters of granting relief on expenditure of this nature, the test is not whether the entertainment expenditure is necessary .....Tag this Judgment!
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 .....Tag this Judgment!
Court : Chennai
Decided on : Jul-17-2012
..... notice under section 143(2) within the prescribed time for the purpose of block assessment could be fatal to the validity of the assessment made under chapter xivb of the income tax act, 1961. in other words, the assessee contended that the issuance of notice under section 143(2) within the prescribed period of time for the purpose of block assessment is mandatory ..... partners. they also signed the sworn statement. thus, the capital gains was held liable to be assessed at the hands of the firm. consequently, notice under section 148 of the income tax act was issued for the assessment year 2000-01 on 20.5.2002 for the reassessment of capital gains at the hands of the firm which had escaped assessment by reason ..... proceedings, but reassessment proceedings under section 147 and 148 of the act on the premise that the original return filed by the assessee had not showed the capital gains arising from sale of the property. the return was found to be incorrect and that there was an escapement of income from being taxed. on this ground only, proceedings under section 148 was initiated ..... .10. as already pointed out, the assessee reiterated its contention in the letter dated 18.12.2002, pursuant to notice issued under section 142(1) stating that original return filed shall be treated as return filed in response to the notice issued under section 148 of the act .....Tag this Judgment!
Court : Chennai
Decided on : Mar-14-2012
..... , i have no doubt in my mind to hold that a sale certificate issued by the recovery officer as provided in clause 65 of the ii second schedule to the income tax act is not an instrument of conveyance (sale deed) and it is only a document evidencing conveyance which had already taken place. in view of all the above conclusion, as has ..... of sale is declared to be the purchaser. such certificate shall bear date the day on which the sale became absolute18. a careful comparison of the above provisions of the income tax act and the civil procedure code would go to show that under order xxi rule 92 c.p.c, a sale becomes absolute, the moment an order confirming the sale is passed by ..... the sale was confirmed in his favour. thereafter, the recovery officer issued a sale certificate dated 29.10.2001 as provided in rule 65 of the ii schedule to the income tax act.3. according to the petitioner, the said sale certificate was forwarded to the third respondent for filing the same as required under section 89 of the registration ..... show that the recovery officer has to follow the procedure contemplated in the second and third schedules of the income tax act 1961 and the income tax procedures in the matter of attachment of sale of immovable properties.16. part iii of the second schedule to the income tax deals with attachment and sale of immovable property. clause 56 of the second schedule states that the sale .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Jan-02-2012
..... . assistant commissioner of income tax4 and held that despite a specific provision having been introduced in the income tax act (section 80hhf) for the purposes of export or transfer of film software, that did not exclude the provisions of section 80hhc of the ..... is no substantial or material difference.16. at this stage, it is necessary to note that a similar provision was introduced in the income tax act with regard to export or transfer of film software under section 80hhf of the act. while interpreting section 80hhf, the madras high court relied upon an earlier decision of the bombay high court in abdulgafar a. nadiadwala v ..... the ground that computer software recorded on magnetic tapes cannot be considered as "goods" for the purposes of section 80hhc of the act. the commissioner also took note of the fact that section 80hhe was introduced in the income tax act with effect from 1.4.1991 and that section specifically intended to cover exports of computer software.5. the commissioner was, therefore ..... for the revenue that marketable computer software has the attributes of goods for the purposes of sales tax and also for the purposes of the income tax act, particularly section 80hhc thereof.11. this view has also been taken by the madras high court in commissioner of income tax v. superstar music and another3.12. we see no error in the concession given by learned .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Jan-03-2012
..... amount was spent wholly and exclusively for business purposes so as to be eligible for a deduction under section 37 of the income tax act, 1961 (for short 'the act'). 5. the view of the assessing officer was accepted by the revenue and was not sought to be revised by the commissioner of ..... revenue expenditure. 8. the revenue then preferred an appeal before the income tax appellate tribunal (for short 'the tribunal') and that appeal was rejected by the tribunal. 9. under these circumstances, the revenue has come up in an ..... income tax under section 263 of the act. 6. for the subsequent assessment years, viz., 1983-84 to 1988-89 the assessing officer came to the conclusion that the payments ..... enduring benefit of the business is thus acquired or brought into existence it would be immaterial whether the source of payment was the capital or the income of the concern or whether the payment was made once and for all or was made periodically. the aim and object of the expenditure would determine ..... officer had erred in the view that he had taken. relying on a full bench decision of this court in praga tools ltd. v commissioner of income tax1 the commissioner (appeals) came to the conclusion that the expenditure incurred by the assessee on payment of royalty to mmb was in the nature of .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Sep-27-2012
..... for determination in this batch of civil appeals, is as follows:whether amounts transferred by the assessee to mandi parishad would constitute application of income for charitable purposes within the meaning of section 11(1)(a) of the income tax act, 1961?m/s. krishi utpadan mandi samiti, respondent-assessee herein, is a market committee incorporated and registered under the uttar pradesh krishi utpadan ..... directed by the state government or the board.it is not in dispute that both, the mandi samiti and the mandi parishad, are duly registered under section 12aa of the income tax act, 1961 [1961 act, for short]. it is also not in dispute that, after the amendment of section 10(20) and section 10(29) by finance ..... of the market committee fund and the surplus, if any, has to be invested in such manner as may be prescribed. this is one circumstance in the 1964 act to indicate application of income. similarly, under section 19-b(2) of 1964 adhiniyam, the assessee is statutorily obliged to apply market development fund for the purposes of development of market area. under ..... ) to the fund(s) of mandi parishad. even the question framed by court/authorities below is whether amounts transferred by the mandi samiti would constitute application of income under section 11(1)(a) of 1961 act. therefore, the question of voluntary contribution under section 11(1)(d) or under section 12(1) does not arise. the question of control may be relevant .....Tag this Judgment!
Court : Chennai
Decided on : Jul-05-2012
..... charge memo, it had been alleged that the petitioner had committed certain irregularities, by the issuance of the false medical certificates, to three government officials, for getting income tax exemption, under section 80 ddb of the income tax act, 1961, and thereby causing a revenue loss to the government, to the tune of rs.26,000/-. therefore, disciplinary proceedings had been initiated against the petitioner .....Tag this Judgment!
Court : Supreme Court of India
Decided on : May-08-2012
..... his obligation by not extending cooperation in obtaining colonization licence from punjab urban development authority and itc certificate under section 34-a of the income tax act.4. in the joint written statement filed by the appellant and his father, the locus standi of the respondent to file the suit ..... court found that the appellant was dabbling in real estate transaction without means to purchase the property and observed: "section 16(c) of the act envisages that plaintiff must plead and prove that he had performed or has always been ready and willing to perform the essential terms of the contract ..... because the latter failed to get the requisite licence and any violation of the provisions of the act would have amounted to an offence.11. shri dushyant dave, learned senior counsel for the respondent supported the impugned judgment and argued that ..... v. a. ramadas rao (2011) 1 scc429. in the end, shri gupta referred to the provisions of the punjab apartment and property regulation act, 1995 and submitted that the appellant did not hand over possession of the suit property to the respondent for the purpose of development of residential colony ..... appellate court that the trial court was not justified in invoking the provisions of section 20 (2) (c) of the specific relief act, 1963 (for short, 'the act') for the purpose of declining substantive relief to the respondent. the learned single judge relied upon the judgments of this court in k. .....Tag this Judgment!