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Judgment Search Results Home > Cases Phrase: income tax act Year: 2012 Page 8 of about 1,977 results (0.087 seconds)

Jun 04 2012 (HC)

Vtm Limited. Vs. the Joint Commissioner of Income Tax

Court : Chennai

Decided on : Jun-04-2012

..... 19.5.2005, in ita no.1030/mds/2001 under section 260 a of the income tax act, 1961 for the assessment year 1996-97.judgment(judgment of the court was made by chitra venkataraman,j.)1. the assessee is on appeal as against the order of the income tax appellate tribunal raising the following substantial question of law relating to the assessment year 1996 ..... of improvement of its products is neither allowable under 37 nor under section 35d ?2. learned counsel appearing for the assessee placed reliance on the order of this court in tax case (appeal) no.992 of 2004 dated 7.6.2011, in respect of the very same assessee, raising an identical question as to whether the expenditure incurred for the purpose ..... of improvement of the products is allowable either under section 37 or under section 35d. this court in the order passed in tax case (appeal) no.992 of 2004 pointed out that the claim of the assessee towards deduction is allowable only under section 35d. going by the said order of this court ..... the claim of the assessee could be considered and allowable only under section 35d and not under section 37. accordingly the order of the tribunal stands set aside and the tax case appeal stands allowed. no costs.

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Jan 09 2012 (HC)

The Commissioner of Wealth-tax Vs. M/S. Kumudam Printers Pvt. Ltd.

Court : Chennai

Decided on : Jan-09-2012

..... explanation:- for the purposes of this clause, relative shall have the meaning assigned to it in explanation to section 13 of the income-tax act. 5. the commissioner of income-tax appeals found that inasmuch as the managing director has got more than one per cent share, the assessee would be entitled to exemption ..... director is concerned, the case of the assessee has been accepted. insofar as the premises at door no.123 is concerned, the commissioner of income-tax (appeals) found that inasmuch as the nature of the premises had not been discussed by the assessing officer, it remitted the matter to the ..... on the facts and in the circumstances of the case, the income tax appellate tribunal was right in law in exempting the property at no.20, hunters road, madras from the wealth tax, even though section 40(3)(vi b) of the finance act, 1983 states if the property used by director, manager and ..... vi b) of the finance act, they are entitled to exemption. these objections do not find favour with the assessing officer, who ultimately finalised the assessment, determining tax after rejecting the claim for exemption. 3. when the matter was taken on appeal to the commissioner of income-tax, insofar as the challenge ..... secretary as residential accommodation then it will not be exempt and the same will be included as taxable asset in the net wealth of the assessee? 2. whether on the facts and in the circumstances of the case, the income tax .....

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Feb 08 2012 (SC)

Ms Topman Exports Vs. Commr of Income Tax,mumbai

Court : Supreme Court of India

Decided on : Feb-08-2012

..... the tribunal is justified in holding that the entire amount received on the sale of the duty entitlement passbook does not represent profits chargeable under section 28(iiid) of the income tax act, 1961 and that the face value of the duty entitlement passbook shall be deducted from the sale proceeds; (b) whether the tribunal is justified in holding that the face ..... amount received by an assessee on sale of the duty entitlement pass book (for short `the depb') represents profit on transfer of depb under section 28(iiid) of the income tax act, 1961 (for short `the act') for the purpose of the computation of deduction in respect of profits retained for export business under section 80hhc of the ..... followed by the tribunal in all the cases in appeal before us. against the judgment and orders of the tribunal, the commissioner of income tax, mumbai filed appeals in all the cases under section 260a of the act before the high court and by the impugned orders the high court disposed of the appeals in terms of the judgment delivered in commissioner ..... depb will fall under clause (iiib) or under clause (iiid) of section 28. the relevant provisions of section 28 of the act are reproduced hereunder: section 28. profits and gains of business or profession.--the following income shall be chargeable to income-tax under the head profits and gains of business or profession,-- ......................................................................... (iiia) profits on sale of a licence granted under the .....

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Mar 14 2012 (HC)

John Williams Vs. the Commissioner of Income Tax.

Court : Chennai

Decided on : Mar-14-2012

..... petitioner challenging the assessment order passed by the second respondent, under section 143(3), read with section 144 of the income tax act, 1961.2. the learned counsel appearing on behalf of the petitioner had stated that an appeal had been preferred by the petitioner, against the said order, ..... issuance of a writ of certiorari and to call for the records and quash the impugned order of the respondent issued under section 143(3) of the income tax act, 1961 bearing pan no.aaapw6059k dated 01.12.2011 by the second respondent and pass further orders.order1. this writ petition had been filed by the ..... on merits and in accordance with law, as expeditiously as possible. however, the recovery of the balance amount said to be payable by the petitioner, as tax and interest, shall not be made, until further orders are passed in the appeal, pending on the file of the first respondent. the attachment of the ..... before such an order is passed.4. in view of the above, the petitioner is directed to pay a sum of rs.3 lakhs, towards the tax and interest payable by the petitioner for the assessment year 2009-2010, before the second respondent, within a period of four weeks from today. on such payment ..... would pay a sum of rs.3 lakhs, which is about 1/3 of the amount said to be payable by the petitioner, as arrears of tax and interest. on such payment being made, the first respondent may be directed to hear the appeal filed by the petitioner and decide the same, on .....

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Feb 03 2012 (SC)

Zelia M.Xavier Fernandes E. Gonsalves. Vs. Joana Rodrigues and ors.

Court : Supreme Court of India

Decided on : Feb-03-2012

..... concerns money affairs of husband and wife governed by the provisions contained in articles 1098 and 1108 of portuguese civil code, 1860 (`1860 code') and section 5a of the indian income tax act, 1961 (`income tax act'). 15. articles 1098 and 1108 of the 1860 code which is applicable in the state of goa read as under: 1098. - in the absence of any contract, it is ..... custom of the country consists in the communion between the spouses of all their properties, present and future, not excluded by law. 16. section 5a of the income tax act is as follows : 5a. apportionment of income between spouses governed by portuguese civil code. - (1) where the husband and wife are governed by the system of community of property (known under the portugese civil ..... , by operation of law, unless contracted otherwise, becomes 50% shareholder in all their properties, present and future and each spouse is entitled to a one-half income of the other spouse. 18. section 5a(1) of the income tax act provides that where the husband and wife are governed by the system of communiao dos bens in force in the state of goa the ..... wife from all sources, except from salary, shall be apportioned equally between the husband and the wife and the income so apportioned shall be included separately in the total income of the husband and of the wife respectively and the remaining provisions of the income tax act shall apply accordingly. sub-section (2) of section 5a provides that where the husband or the wife governed .....

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Jul 10 2012 (SC)

NitIn Gunwant Shah Vs. Indian Bank and ors.

Court : Supreme Court of India

Decided on : Jul-10-2012

..... the eviction of such persons in an appropriate case where it is found that the person in possession is not legally entitled for the same[8]. the rules under the income tax act which are adopted for the purpose of the recovery of debts due to the financial institution and banks under the 1993act also provide a similar authority of law. the law ..... that any reference under the said provisions and the rules to the "assessee" shall be construed as a reference to the defendant under this act.31. "the second schedule of the income tax act read with the income tax certificate proceedings rules, 1962, for short 'the 1962 rules', prescribe the procedure for recovery of the amounts due pursuant to a certificate issued under section 222 ..... 1993 declares that the provisions of the second and third schedule of income tax act, 1961 apply with necessary modifications for the recovery of the amounts due under the act 51 of 1993.1 "29 application of certain provisions of income-tax act the provisions of the second and third schedules to the income- tax act, 1961 and the income-tax (certificate proceedings) rules, 1962 , as in force from time to ..... of the income tax act. part iii of the second schedule prescribes the procedure for the attachment and sale of immovable property. rule 92 thereof enables the making of the rules. in the purported .....

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Apr 27 2012 (HC)

Ms.CavIn Kare Pvt. Ltd. Vs. District Valuation Officer

Court : Chennai

Decided on : Apr-27-2012

..... been issued to the petitioner, by the first respondent, under section 16(a)(2), read with section 53(cc) of the second schedule of the income tax act, 1961.23. the petitioner had sent a reply, dated 10.2.2010, stating that the first respondent does not have the jurisdiction to issue such ..... the making of the assessment could also be taken into account, by the commissioner. the commissioner, was justified in invoking section 263 of the income tax act, 1961, on the basis of the valuation report submitted by the district valuation officer subsequent to the assessment order. it had been held that ..... valuation officer (dvo). the opinion of the dvo per se is not an information for the purposes of reopening assessment under section 147 of the income tax act, 1961. the assessing officer has to apply his mind to the information, if any, collected and must form a belief thereon. in the circumstances ..... the petitioner company had received a notice, dated 25.6.2009, issued under section 16(a)(2) of the act, read with section 53(cc) of the second schedule of the income tax act, 1961. by the said notice the petitioner company had been requested to furnish certain details, as specified therein.5. ..... it would be a sufficient ground to re-open the assessment and therefore, the notice of reassessment, issued under section 17 of the act, was valid.20. in commissioner of income tax vs. shree manjunatheasware packing products & camphor works [1998 (96) taxman 1 (sc)], it had been held that materials which .....

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Jul 25 2012 (HC)

K.Chandrasekara Rao and ors. Vs. C.Masilamani and ors.

Court : Chennai

Decided on : Jul-25-2012

..... been referred to in the capital fund account of sri narayanandha bharathi trust, tirupur and the trust has been exempted as per section 80-g of the income tax act. further, in the income tax and expenditure account for the year ended 31st march 1988 of the said trust under the caption 'liabilities', it is mentioned as "rs.20,67, ..... for the respondents contends that sri narayanandha bharathi trust, tirupur has been granted the exemption under section 80-g of the income tax act (in respect of donations to it) and further, the commissioner of income tax, coimbatore in his proceedings in c.no.1419(64)/87-88 dated 25.03.1997 has renewed the exemption as per ..... narayanandha bharathi trust at tirupur on 26.07.1988 and ex.c.4 is the copy of the registration under section 12a of the income tax act issued by the commissioner of income tax, coimbatore in favour of sri narayanandha bharathi trust on 11.01.1988 and that under original of ex.c.5, the commissioner of ..... income tax granted exemption as per section 80-g of the income tax act, in respect of donations to sri narayanandha bharathi trust on 25.03.1997.60.p.w.8 (in his cross examination) has ..... section 80-g of the income tax act in respect of the trust from 01.04.1997 to 31.03.2000 and therefore, it cannot be said that the said trust is .....

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Jun 07 2012 (HC)

Arpit Jhanwar. Vs. Kamlesh JaIn Rep.

Court : Chennai

Decided on : Jun-07-2012

..... there was no point in making separate provision for the assessment of hindu undivided family. this conclusion is strengthened by section 25-a of the indian income tax act, 1922 which provides for the assessment of hindu undivided family after its partition.15. again, more or less, a similar question arose for consideration ..... persons. hindu undivided family is neither a firm nor an association of persons. it is a separate entity by itself. that is made clear by section 3 of the indian income tax act, 1922 which classifies the assessee under the heads individuals . hindu undivided families , companies , local authorities , firms and other associations of persons . . . . . . . ..... with reference to the object of the enactment or the context in which it is used. for instance, the definition of the word person in the income tax act, is very wide and includes an individual, a hindu undivided family, a company, a firm, an association of persons or body of individuals whether ..... before the hon ble supreme court was as to whether the huf is an association of persons in terms of the provisions of the income tax act, 1922. speaking for the three judge bench, justice k.s.hegde took note of the definition of the term person as found in section ..... 2(17) of the income tax act, wherein it states that the term persons includes a huf. in view of the specific inclusion of huf within the definition of the term .....

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Jun 29 2012 (HC)

K.Subrahmanian Vs. the Inspector of Factories,

Court : Chennai

Decided on : Jun-29-2012

..... . while referring to section 80 hh(2) of the act, the hon'ble supreme court has held in para 8 of the judgment as follows:"the ..... petitioner.12. turning to the judgment of the commissioner of income tax, orissa and others vs. m/s.n.c.budharaja and company and others reported in 1994 supp(1) supreme court cases 280 cited supra, that is a case under income tax act. in the income tax act, of course, the term 'manufacture' has not been defined ..... of central excise, bangalore-ii vs. osnar chemical private limited reported in (2012) 2 supreme court cases 282 and yet another judgment in commissioner of income tax, orissa and others vs. m/s.n.c.budharaja and company and others reported in 1994 supp(1) supreme court cases 280.4. but the ..... ."10. but that interpretation was made having regard to the definition of the term 'manufacture" as found in section 2(f) of the central excise act. the said provision reads as follows:"2(f) "manufacture" includes any process-(i) incidental or ancillary to the completion of a manufactured process;(ii) ..... mere breaking up, demolishing, treating or adapting of any article or substance itself will fall within the ambit of manufacturing process as defined in the act.8. in the case on hand, the petitioner was found crushing the stones by breaking big stones. then the petitioner mixes the same with tar .....

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