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Judgment Search Results Home > Cases Phrase: income tax act Year: 2015 Page 4 of about 2,232 results (0.094 seconds)

Jul 01 2015 (HC)

N. Govindaraju Vs. Income Tax Officer, Bangalore and Another

Court : Karnataka

Decided on : Jul-01-2015

..... can tax be levied by the assessing officer for a totally different reason or issue, which was not the subject matter of reopening the assessment. in other words ..... for the purpose of stamp duty and registration charges, or the value adopted under the wealth tax act, for determining the fair market value under the income tax act, 1961 ?. after considering the facts, this court has held that in determining the fair market value under the act, neither the guideline value prescribed for the purpose of stamp duty and registration under the karnataka ..... stamp act and the indian registration act nor the net wealth value arrived at under the provisions of the wealth tax act, cannot be the ..... s.260 a of the income tax act, 1961 praying to set aside the order passed by the itat, bangalore in ita 970/bang/2009 on 26.04.2010, etc. 1. the primary question that requires determination in this appeal is that when the reason recorded for reopening the assessment under section 147 of the income tax act (for short act') itself does not survive, .....

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Jun 15 2015 (HC)

Commissioner of Income Tax, Bangalore and Another Vs. M/s. ITC Hotels ...

Court : Karnataka

Decided on : Jun-15-2015

..... to m/s sheraton international inc.,(for short, sheraton) a us company (for international marketing, publicity and sales / reservation related services provided by it) without deducting tax at source under section 195 of the income tax act. prior to that also, for the earlier assessment years, no such deduction was made and the assessee had applied to the assessing officer for issuance of no ..... k v aravind, learned counsel for the appellant that amount paid by the respondent/assessee to sheraton would be 'royalty' under the provisions of s.9(l)(vi) of the income tax act as has been held by this court in the case of synopis international (supra) and as such, respondent/assessee was required to deduct ..... interest or any other sum to any non-resident is not liable to deduction of tax at source if such sum is not chargeable to tax under the income tax act. sri k v aravind has placed reliance on the judgment of this court in the case of commissioner of income tax vs synopsis international old ltd - (2013) 212 taxman 454, to support his submission that payment ..... (prayer: appeals are filed under s.260a of the income tax act praying to set aside the order dated 1.5.2009 in ita 70/bang/2009 and ita 69/bang/2009 by the income tax appellate tribunal confirming the order of the appellate commissioner and confirm the order passed by the income tax officer (tds) i, bangalore.) 1. the assessee respondent m/s itc hotels ltd is .....

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Jun 12 2015 (HC)

M/s. Lakshminirman Bangalore Pvt. Ltd., Rep. by its Managing Director ...

Court : Karnataka

Decided on : Jun-12-2015

..... learned advocates appearing for the parties, this court is of the considered view that only issue which requires to be examined is: preface: whether section 234e of the income tax act, 1961 inserted by finance act, 2012 is to be struck down or its validity is to be upheld? 9. the courts normally lean against a construction which reduces the statute to a futility ..... communication vide annexures-a1-a5. these writ petitions are filed under articles 226 and 227 of the constitution of india praying to declare the newly inserted section 234e to income tax act 1961 by finance act 2012 as violative of articles 14, 265 and 277 and thus ultra vires the constitution of india in so far as the petitioner is concerned. these writ petitions ..... ever be grateful. these writ petitions are filed under articles 226 and 227 of the constitution of india praying to issue a declaration that sec. 234e of the income tax act, 1961 introduced by finance act no.2/2012 for the various grounds raised in this writ petition as unconstitutional and void. these writ petitions are filed under articles 226 and 227 of the ..... constitution of india. these writ petitions are filed under articles 226 and 227 of the constitution of india praying to declare and strike down provisions of sec.234e of the income tax act, 1961 as unconstitutional and violative of article 14 of the constitution of india. these writ petitions are filed under articles 226 and 227 of constitution of india praying to declare .....

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Dec 21 2015 (HC)

Raj Dulari Bhasin Vs. Commissioner of Income-tax

Court : Delhi

Decided on : Dec-21-2015

..... 1. this appeal under section 260a(1) of the income tax act, 1961 ('act') is directed against the impugned order dated 12th may 2013 passed by the income tax appellate tribunal ('itat') in ita no. 2183/del/2000 for the assessment year ('ay') 1990-91. 2. while admitting this appeal ..... assessee against the order of the cit (a), the itat held in the impugned order as under: "24. it is quite ..... sum of rs. 4 lakhs = rs. 9,32,855/- was treated as the income of the assessee under the head profit and gains of business. 13. the appeal filed by the assessee before the commissioner of income tax (appeals) ['cit (a)'] was dismissed on 8th march 2000. while dismissing the appeal filed by the ..... of rs. 4 lakhs under the head 'long term gain' and claimed deduction of rs. 3,75,000 under section 54b of the act. the assessee also declared net taxable income of rs. 7,500 under the head 'capital gains'. 9. the said return of the assessee was accepted by the revenue under section ..... the court by its order dated 18th may 2004 framed the following question of law for consideration: "whether the income tax .....

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Dec 17 2015 (HC)

Principal Commissioner of Income-tax, Delhi-2 Vs. Bharti Overseas (P.) ...

Court : Delhi

Decided on : Dec-17-2015

..... the income tax act, 1961 ('act') is directed against the order dated 23rd march 2015 passed by the income tax appellate tribunal ('itat') in ita no. 460/del/2013. 2. the question sought to be urged before this court is whether the itat was correct in affirming the order of the commissioner of income tax (a) ['cit(a ..... )'] which had confined the disallowance under section 14a of the act to rs. 30,26,552 for the ay in question? 3. the incidental issue that is sought to ..... be raised is whether the itat could read down rule 8d (2)(ii) of the income tax rules 1962 ('rules'), and whether that was beyond ..... act. section 14a (3) clarifies that section 14a (2) would apply when the assessee claims that no expenditure has been incurred in relation to the exempt income. 16. the object behind section 14a (1) is to disallow only such expense which is relatable to tax exempt income and not expenditure in relation to any taxable income ..... is basically to "allocate" some part of the common expenditure for disallowance by the proportion that average value of the investment from which the tax exempt income is earned bears to the average of the total assets. it acknowledges that funds are fungible and therefore it would otherwise be difficult to .....

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Dec 14 2015 (HC)

Kulbhushan Khosla Vs. Commissioner of Income Tax

Court : Delhi

Decided on : Dec-14-2015

..... dr. s. muralidhar, j. 1. this appeal under section 260a (1) of the income tax act, 1961 ( act') by the assessee is directed against the impugned order dated 22nd may 2003 in ita no. 92/del/2002 for the assessment year ..... considering the assessee's evidence on merits and thereafter left it open to the assessee to challenge the addition in further appeals to the commissioner of income tax (appeals) and the tribunal. ? 14. the itat negatived the plea that the reopening could have been made only on the receipt of adverse material ..... of the assessment was at best due to change of opinion of the ao that some income had escaped assessment. this was impermissible under section 147 of the act. 20. as noted by the decision of this court in cit v. multiplex trading and industrial co. ltd. (decision dated 22nd september 2015 in ita ..... ( ay') 1994-95. 2. while admitting this appeal on 28th february 2005, the court framed the following question of law for consideration: whether the income tax appellate tribunal ..... 356/2013), it would be impermissible for the ao to reopen the assessment unless the ao, on the basis of credible and tangible material, which was not in his possession during the initial assessment, believes that income .....

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Dec 10 2015 (HC)

Principal Commissioner of Income-tax Vs. Toll Global Forwarding India ...

Court : Delhi

Decided on : Dec-10-2015

1. these are two appeals by the revenue under section 260a of the income tax act 1961. 2. ita no. 374/2015 is directed against the impugned order dated 18th november, 2014 passed by the income tax appellate tribunal ('itat') in ita no.5025/del/2010 for assessment year ('ay') 2006-07. ita no. 396/2015 is directed against the impugned order dated 18th november, 2014 ..... the financial years in question. in the order 21st august, 2009, the tpo observed that initially the assessee only submitted its audited financials along with the auditor's tax audit report, computation of total income and the previous assessment orders. pursuant to notices issued by the tpo, a transfer pricing study was also furnished by the assessee. the tpo was not persuaded ..... a difference of rs. 20,900,179/- between the booked value and the alp and since the same was more than 5%, the said difference was added back to the income of the assessee. 5. on the basis of the above order of the tpo for ay 2006-07 the ao passed a draft assessment order on 26th november, 2009 which .....

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Dec 09 2015 (HC)

Commissioner of Income-tax-7 Vs. Radio Today Broadcasting Ltd.

Court : Delhi

Decided on : Dec-09-2015

..... dr. s. muralidhar, j. 1. this appeal by the revenue under section 260a of the income tax act, 1961 ('act') is directed against the impugned order dated 9th september 2014 passed by the income tax appellate tribunal ('itat') in ita no. 2186/del/2012 for the assessment year ('ay') 2008-09. questions of law 2. on 13th march 2015 while admitting this appeal, the following ..... introduced only with effect from 1st april 2009. reliance was placed on the decision of the supreme court in commissioner of income tax v. tara agencies [2007] 292 itr 444 (sc)where for the purposes of section 35b (1a) of the act (as it then stood) it was held that the process of blending of tea by the assessee "falls short of either ..... went in appeal before the commissioner of income tax (appeals) ['cit (a)']. by an order dated 10th february 2012 the cit (a) dismissed the appeal by concurring with the ao that "airing of radio programmes cannot be said to be manufacturing or producing of article or thing as defined under section 32 (1) (iia) of the act." the cit (a) further held as under: "in the ..... industries ltd (supra), capital bus service pvt. ltd. v. cit (del)123 itr 404 and assistant commissioner of income tax v. ashima syntex ltd. 251 itr 133 (guj). question no. 1: additional depreciation 21. the first question concerns the claim of the assessee to additional depreciation under section 32 (1) (iia) of the act. the said provision reads as under: 32. depreciation (1) in .....

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Dec 03 2015 (HC)

Commissioner of Income Tax Vs. Vishishth Chay Vyapar Ltd.

Court : Delhi

Decided on : Dec-03-2015

..... appellate tribunal was correct in deleting the penalty under section 271(1)(c) of the income tax act, 1961? ? 4. it must be noted at the outset that the impugned order dated 30th june 2009 of the itat is common ..... /2010 on 27th november 2014, the following questions of law were framed by the court: (1) whether income tax appellate tribunal was right in holding that reassessment proceedings under section 147/148 of the income tax act, 1961 were bad in law? (2) whether the finding of the income tax appellate tribunal accepting the genuineness of the loss in respect of shares held as stock-in-trade ..... dr. s. muralidhar, j. 1. these two appeals by the revenue under section 260a of the income tax act, 1961 ( act') pertain to the assessment year ( ay') 1995-96. ita no. 1108/2010 is directed against the decision of the income tax appellate tribunal ( itat') dated 30th june 2009 in ita no. 4403/del/2007. ita no. 1109/2010, which is the penalty appeal, is directed against ..... is perverse and accordingly cannot be sustained? ? 3. as far as ita no. 1109/2010 is concerned, by an order of the same date, the following question was framed: whether the income tax .....

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Nov 19 2015 (HC)

Commissioner of Income-tax -Delhi -I Vs. Abhinandan Investment Ltd.

Court : Delhi

Decided on : Nov-19-2015

vibhu bakhru, j. 1. this is an appeal filed by the revenue under section 260a of the income tax act, 1961 (hereafter 'act') impugning an order dated 12th january, 2001 passed by the income tax appellate tribunal (hereafter 'itat') in ita no. 5425(del)/94. the said appeal (ita 5425(del)/94) was preferred by the assessee against an order dated 18th july, ..... 1994 passed by commissioner of income tax (appeals) [hereafter 'cit(a)'] whereby the assessee's appeal against an assessment order dated 22nd ..... that the sale consideration received by the assessee by transfer of shares and sale of right entitlement of partly convertible debentures (pcd) is income from capital gains and not income from business? 2. whether the income tax appellate tribunal was right in holding that the assessee had incurred loss on sale of its entitlement to acquire partly convertible debentures and the ..... assessee creates a colourable device or enters into a sham transaction to evade the tax, which is otherwise payable by him. 42. in commissioner of income tax v. sakarlal balabhai: [1968] 69 itr 186 (guj), the gujarat court explained the meaning of tax avoidance and observed that "tax avoidance postulates that the assessee is in receipt of amount which is really and .....

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