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Judgment Search Results Home > Cases Phrase: income tax act Year: 2015 Page 10 of about 2,519 results (0.086 seconds)

Nov 04 2015 (HC)

Jet Lite (India) Ltd. and Others Vs. Commissioner of Income Tax-XVI an ...

Court : Delhi

Decided on : Nov-04-2015

..... disallowance of consultancy expenses, paid by the assessee to m/s. sahara india international corporation limited, invoking the provisions of section 40a (2) of the income tax act, 1961, when the said expenditure is excessive and unreasonable and the services, which have been claimed to have been rendered have not been substantiated for genuineness ..... made by the ao, on account of disallowance of the 1/5th of the foreign travel total expenses claimed under section 37 (l) of the income tax act, 1961, when the same are inadmissible for want of genuineness to prove that the expenditure was incurred wholly and exclusively for the business purposes? (viii ..... account of disallowance of the interest paid on borrowed capital, when the said interest is not allowable under section 36 (1) (iii) of the income tax act, 1961, on account of substantial interest-free funds advance to the sister concerns? (vii) whether the itat was correct in the eyes of law ..... eyes of law in upholding the deletion of the addition of rs. 55,40,38,959 made by the ao under section 68 of the income tax act, 1961, on account of the unexplained cash credit, ignoring the material fact that the assessee had failed to substantiate the credit worthiness of the ..... holding that the payments made by the assessee towards reserve funds in respect of financial year 1998-99 were exempt under section 10(15a) of the income tax act, 1961? ? 23. as far as the revenue's appeal ita 1206 of 2005 for ay 1999-2000 is concerned, this court by order .....

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Oct 30 2015 (HC)

Commissioner of Income Tax-7 Vs. RRJ Securities Ltd.

Court : Delhi

Decided on : Oct-30-2015

vibhu bakhru, j. 1. the revenue has preferred these appeals under section 260a of the income tax act, 1961 (hereafter the act') impugning a common order dated 26th august, 2014 passed by the income tax appellate tribunal (hereafter the tribunal') in a batch of six appeals and six cross objections relating to six assessment years (ays), being ays 2003-04 to 2008-09. the aforesaid ..... 11th august, 2008, 27th august, 2008 and 10th december, 2008 respectively.5.7 also, in a reply to a request under the right to information act, 2005 filed by the searched persons, the deputy commissioner of income tax, central circle-17, vide a letter dated 10th june, 2013 noticed that there was no satisfaction noteavailable/recorded in respect of the other entities whose ..... to 2010-11.further, the assessee contended that the seized hard disk contained working papers, balance sheets and other material for income tax filings and as such was fully disclosed in its returns and, therefore, proceedings under section 153c of the act could not be initiated on the basis of the seized material.5.10 the assessee submitted that sh. b.k. dhingra ..... preceding the financial year in which the search was conducted. 17. in pepsi foods pvt. ltd. v. assistant commissioner of income tax: (2014) 367 itr 112 (del), this court had explained that on a plain reading of section 153c of the act, a notice under that section could be issued only after two preceding conditions had been met. first of all, the ao .....

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Oct 20 2015 (HC)

Rockland Hotels Ltd. Vs. Income-tax Settlement Commission Principal Be ...

Court : Delhi

Decided on : Oct-20-2015

..... petitions arise out of a common judgment dated 23.04.2014 passed by the income tax settlement commission (hereinafter referred to as the settlement commission), in a batch of 25 settlement applications filed under section 245c (1) of the income tax act, 1961 (hereinafter referred to as 'the said act'). out of the 25 applications, 12 applications were admitted and allowed to be ..... proceeded with under section 245d(1) of the act and 13 applications were held to be not fit for admission as having been filed by ..... been declared in the return of income before the assessing officer on the date of application, has ..... the additional amount of income-tax payable on the income disclosed in the application exceeds ten lakh rupees, (ii) in any other case, the additional amount of income-tax payable on the income disclosed in the application exceeds ten lakh rupees, and such tax and the interest thereon, which would have been paid under the provisions of this act had the income disclosed in the application .....

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Oct 20 2015 (HC)

Vishwanath Khanna Vs. Chief Commissioner of Income-tax, Delhi-VIII

Court : Delhi

Decided on : Oct-20-2015

..... present case is that whether this court has inherent jurisdiction to try the present suit in view of the bar contained in section 293 of the income tax act. section 293 of the income tax act reads as under: "293. bar of suits in civil courts. - no suit shall be brought in any civil court to set aside ..... appropriate remedy to challenge the said order in an appeal but the plaintiff failed to do so. this suit in view of section 293 of the income tax act however is not the remedy and the only remedy of the plaintiff was to challenge the order dated 20.9.2005/27.9.2004 in the appropriate ..... not encashed by the defendants and plaintiff had a right to claim interest on these bank drafts in the proceedings under section 245(d)(6) of the income tax act, inasmuch as, by june/august 2004, plaintiff had encashed the pay orders totaling to the amount of rs. 30,50,000/-. i have deliberately reproduced ..... vires the legislature and that the assessment was, therefore, wrong. one of the contention raised was that the suit was barred by reason of section 67 of the income tax act, 1922. section 67 contained bar of suits in civil court. section 67 provided as under: "67. bar of suits in civil court. - no suit ..... matter with respect to whether or not this court has jurisdiction to try the present suit in view of the bar contained in section 293 of the income tax act, 1961. though such an issue was not framed because no such defence was taken up in the written statement, however, since this issue goes to .....

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Oct 09 2015 (HC)

Thomson Press (India) Ltd. Vs. Commissioner of Income Tax-II

Court : Delhi

Decided on : Oct-09-2015

..... from the profits of business of the industrial undertaking so as to be entitled to get the benefit of section 10a of the income-tax act, 1961 ?" in that case the assessee had set up an industrial undertaking in kandla free trade zone for manufacturing of light engineering goods. these goods were exported and in the ..... vibhu bakhru, j. 1. the assessee by way of these appeals filed under section 260a of the income tax act, 1961 (hereafter the act') - impugns a common order dated 5th august, 2002 passed by the income tax appellate tribunal (hereafter the tribunal') in ita no.2641/del/96 and ita no.2642/del/96 in respect of the assessment years 1991-91 and 1992-93 respectively. both ..... the said appeals (ita no.2641/del/96 and 2642/del/96) were filed by the assessee against separate orders passed by the commissioner of income tax (hereafter the cit') under section 263 of the act in respect of ay 1991-92 and ay 1992-93. 2. the controversy involved in the present case relates to whether the assessee could include notional interest ..... , these appeals were admitted and the following questions of law were framed:- assessment year 1991-92 1. whether the income tax appellate tribunal was correct in law in upholding the orders passed by the commissioner of income tax u/s 263 of the i.t. act, 1961, holding the assessment order for the assessment year 1991-92 as erroneous in so far as the same .....

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Oct 07 2015 (HC)

Director of Income-tax (Exemption) Vs. All India Personality Enhanceme ...

Court : Delhi

Decided on : Oct-07-2015

..... order to enable the department to take physical possession of those moveable properties or articles which are or represent undisclosed income or property. the words "undisclosed income" must mean income which is liable to be taxed under the provisions of the income tax act but which has not been disclosed by an assessed in an effort to escape assessment. not disclosed must mean the ..... , universities, hospitals and other medical institutions. 8.1 under the provisions of clauses (22) and ( 22a) of section 10 of the income-tax act, before amendment, educational and medical institutions enjoyed a blanket exemption from income-tax if they existed solely for educational purposes and not for the purposes of profit. in the absence of any monitoring mechanism for checking the genuineness ..... by government, under the new sub-clause (iiiab) and (iiiac) inserted in section 10(23c) of the income-tax act by the finance (no. 2) act, 1998. 8.3 further, under sub-clauses (iiiad) and (iiiae ) in section 10(23c), the income of other educational and medical institutions would also be exempt if their annual receipts are below a limit to be ..... those assets which wholly or partly represent what should have been income. the expression "which has not been or would not be, disclosed for the purposes of income tax act" would mean that income which is liable to tax, but which the assessed his not returned in his income tax return or made known to the income-tax department. the sub clause itself refers to this as " .....

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Sep 28 2015 (HC)

Director of Income tax-I Vs. Mitchell Drilling International (P.) Ltd.

Court : Delhi

Decided on : Sep-28-2015

..... /2008 dated 28th april 2008 it was clarified that service tax paid by the tenant doesn't partake the nature of "income" of the landlord. the landlord only acts as a collecting agency for government for collection of service tax. therefore, it has been decided that tax deduction at source) under sections 194-i of income tax act would be required to be made on the amount of ..... and production of mineral oil and natural gas. the assessee filed its income for the ay on 4th october 2008 declaring an income of rs.49,31,260 as per provisions of section 44bb (3) of the income tax act, 1961 ( act'). in computing the gross receipts for the purposes of determining the taxable income, the assessee did not include a sum of rs.2,09,24 ..... ,553/- being the service tax received from its customers. 3. the assessing officer ( ao') by order dated 7th february 2011 rejected the contention ..... rent paid/payable without including the service tax.in circular no. 1/2014 dated .....

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Sep 24 2015 (HC)

Teletube Electronics Ltd. Vs. Commissioner of Income Tax, Delhi-VI

Court : Delhi

Decided on : Sep-24-2015

..... plots and gave them on 99 year lease. this was held to be a transfer in relation to a capital asset within the meaning of section 12 b of the income tax act 1922. one more fact distinguishing that case from the present one was that the consideration for the 99 year lease was salami and not the yearly rent. the capital gain ..... the facts and circumstances of the case, the itat erred in holding that the transaction is chargeable to capital gains under section 45 but not u/s 50 of the income tax act? ? background facts 3. the assessee teletube electronics ltd. ( tel') had two divisions i.e. a picture tube division situated at ghaziabad in uttar pradesh and a glass bulb division at ..... dr. s. muralidhar, j. 1. these are two appeals under section 260a of the income tax act, 1961 ( act') by the assessee and the revenue against the impugned common order dated 28th september 2001 passed by the income tax appellate tribunal ( itat') in ita no. 892/del/99 for assessment year 1994-95. questions of law 2. on 25th november 2002 while admitting the appeals, the following ..... case with the kind of transaction envisaged by explanation 4a to section 43(1) of the act which is a sale-cum-lease transaction. he also referred to the decisions in commissioner of income tax v. cosmo films ltd. [2011] 12 taxmann.com 217 (del) and commissioner of income tax v. george willamson (assam) limited [2004] 136 taxmann 52 (gau.). he submitted that the lease .....

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Sep 22 2015 (HC)

Commissioner of Income-tax - II Vs. Multiplex Trading and Industrial C ...

Court : Delhi

Decided on : Sep-22-2015

..... ; and (b) whether the itat fell into error in not upholding the revenue's contentions that the other accounts have to be added on merits under section 68 of the income tax act." 4. briefly stated, the relevant facts necessary to consider the controversy involved in the present appeal are as under: 4.1 the assessee filed its return of ..... and circumstances of the particular case." 26. the decision in the case of burlop dealers ltd. (supra) had been rendered in the context of section 34(1)(a) of the income tax act, 1922 and the decision of the supreme court in phool chand bajrang lal (supra) was delivered in the context of section 147(a) of the ..... shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely: (a) where income chargeable to tax has been under- assessed; or (b) where such income has been assessed at too low a rate; or (c) where such income has been made the subject of excessive relief under this act or under the indian income- tax act, 1922 (11 of 1922); or (d) where excessive ..... vibhu bakhru, j. 1. this appeal under section 260a of the income tax act, 1961 (hereafter the 'act') has been preferred by the revenue impugning an order dated 9th november, 2012 passed by the income tax appellate tribunal (hereafter the 'tribunal') in ita no.1202/del/2011. the said appeal (ita no.1202/del/2011) was preferred by the revenue to impugn an order dated 23rd .....

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Sep 21 2015 (HC)

Vodafone South Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Decided on : Sep-21-2015

..... it is not for the court to decide which of them should have been employed when the court is deciding a question under section 12 (2) of the income tax act." 15. subsequently in commissioner of income tax v. rajendra prasad moody [1978] 115 itr 519 the supreme court addressed the question whether interest paid on money borrowed for investment in shares would be allowable ..... the tribunal fall into error of law in holding that the expenditure on interest claimed by the assessee could not be allowed in terms of section 57 (iii) of the income tax act, 1961? 10. this court has heard the submissions of mr. kavin gulati, learned senior counsel for the assessee and mr. kamal sawhney, learned senior standing counsel for the revenue. ..... vodafone south ltd. (formerly known as vodafone essar south ltd. and earlier to that as hutchison essar south ltd.) under section 260a of the income tax act, 1961 ('1961 act') against a common order dated 7th february, 2014 passed by the income tax appellate tribunal ('itat') in ita nos. 4146/del/2011 and 91/del/2011 for the assessment years ('ays') 2002-03 and 2003-04 ..... 11. before discussing the facts of the case, it may be noticed that the provision in the income act, 1922 ('1922 act'), corresponding to section 57 (iii) of the act, was section 12. in eastern investments limited v. commissioner of income-tax (1951) 20 itr 1 the appellant was an investment company originally formed for acquiring, holding and otherwise dealing with shares .....

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