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Judgment Search Results Home > Cases Phrase: income tax act Year: 2015 Page 4 of about 2,519 results (0.165 seconds)

Apr 07 2015 (HC)

Nivi Trading Limited Vs. Union of India through the Secretary, Governm ...

Court : Mumbai

Decided on : Apr-07-2015

..... direction calling for the records of the petitioner's case pertaining to the notice dated 24th january, 2014 issued by respondent no. 2 invoking section 148 of the income tax act, 1961 (for short the ??it act ? ) and the order dated 21st january, 2015 (annexure 'b') and, further relief is that upon scrutiny thereof, this court should quash and set aside the same. 4. the ..... and to permit the revenue to raise such a plea. the notice impugned in this case reads as under: ??notice under section 148 of the income tax act, 1961 no. ito 7(1)(1)/148/201314 office of the income tax officer, ward 7(1)(1), room no. 670, aayakar bhavan, m.k.road, mumbai ?? 400020 date 24.01.2014 to, the principal officer, m ..... filed could have been subjected to verification and scrutiny and in terms of the applicable law and sections in the income tax act, 1961 itself. however, if this notice has been issued in the present case and on the footing that the income chargeable to tax has escaped assessment during the course of the assessment proceedings, then, we would not go by the stand taken ..... , 167, dr. a. b. road, mumbai ?? 400018. pan: aaacn2703l whereas i have reason to believe that your income in respect of which you are assessable chargeable to tax for the a. y. 2010-2011 has escaped assessment within the meaning of section 147 of the income tax act, 1961. i, therefore, propose to assess for the said assessment year and i hereby require you to .....

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Apr 01 2015 (HC)

The Director of Income Tax (Exemptions) Vs. M/s. Jasubhai Foundation

Court : Mumbai

Decided on : Apr-01-2015

..... of the income tax act are the governing provisions and relate to exemption claimed by charitable institutions, then, the assessee has no option to choose whether it wants to avail the exemption under section 10 ..... of rs.3,21,124/- on account of long term capital gain on redemption of mutual fund investment. that cannot be claimed as exempt under section 10(38) of the income tax act. this finding of the assessing officer is based only on reading of sections 10, 11, 12 and 13. in his view, if the provisions of section 11, 12, and 13 ..... was indeed utilised for setting up of digital research and training centre. however, that was donated to another trust and hence the condition stipulated in section 11(2) of the income tax act was not satisfied. there was no harm in the assessing officer making the necessary verification, scrutiny and enquiry. therefore, these questions are also substantial questions of law. 6. on the ..... as exempt under section 10(33) of the income tax act. however, this income forms a part of the income from trust property and, therefore, can only be claimed to be exempt under section 11 of the income tax act if applied for charity and not under section 10(33) of the income tax act. claim of exemption under section 10(33) of the income tax act is, therefore, not allowable. similar is the .....

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Mar 30 2015 (HC)

The Commissioner of Income Tax Vs. Nitish Rameshchandra Chordia and Ot ...

Court : Mumbai Nagpur

Decided on : Mar-30-2015

..... 8 kms. of the municipal limits. 9. in respect of measurement of distance for the purpose of agricultural land within the meaning of section 2(14)(iii)(b) of the income tax act, the assessee took stand that the distance should be taken through the approach road while the assessing officer has taken the aerial distance and accordingly, held that the land sold ..... plane. the only dispute involved in this appeal relates to measurement of distance for the purpose of agricultural land within the meaning of section 2(14)(iii)(b) of the income tax act. the assessee took stand that the distance should be taken through the approach road while the assessing officer has taken the aerial distance and accordingly, held that the land sold ..... . 3. the facts, briefly stated, are as under: that, on or about 13-01-2009, a search and seizure operation was conducted under section 132 of the income tax act, 1961, (hereinafter referred to as ??the act) in respect of the business premises of m/s.concrete developers, nagpur and residential premises of its director. several books of account and documents were seized. notice ..... only dispute involved in this appeal relates to measurement of distance for the purpose of nonagricultural land within the meaning of section 2(14)(iii)(b) of the income tax act. the assessee took stand that the distance should be taken through the approach road while the assessing officer has taken the aerial distance and accordingly, held that the land sold .....

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Mar 27 2015 (HC)

M/s. Alliance Space Pvt. Ltd. Vs. The Income Tax Officer 6(1)(1), Mumb ...

Court : Mumbai

Decided on : Mar-27-2015

..... year 2009-10. the challenge in the petition is to two notices dated 24th march, 2015 and 29th march, 2014 respectively issued by the income tax officer 6(1)-2, mumbai under section 148 of the income tax act, 1961 (the act). 3. we will briefly advert to the facts in writ petition (l) no.735 of 2015. the petitioner is a company engaged in the ..... share premium amounting to rs.14,10,01,300/- during the financial year 2007-08 relevant to a.y. 2008-09. as scrutiny assessment u/s. 143(3) of the income-tax act, 1961 has not been done in this case for this year, huge share premium having been received by the assessee has not been examined. the assessee is an unlisted company ..... petition (l) no.735 of 2015, the impugned notice exhibit-q dated 29th march, 2014 issued by the income tax officer 6(1)-2, mumbai under section 148 of the income tax act, 1961 and the impugned order exhibit-u dated 10th february, 2015 by the income tax officer 6(1)-1, mumbai in respect of assessment year 2008-09 are hereby set aside. 27. in writ ..... .736 of 2015, the impugned notice exhibit-q dated 24th march, 2014 issued by the income tax officer 6(1)-2, mumbai under section 148 of the income tax act and the impugned order exhibit-u dated 10th february, 2015 in respect of assessment year 2009-10 by the income tax officer 6(1)-1, mumbai are hereby set aside. there will be no order as to .....

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Mar 25 2015 (HC)

Plus Paper Food Pac Ltd. Vs. Income Tax Officer and Another

Court : Mumbai

Decided on : Mar-25-2015

..... . accordingly, the petition must succeed. we, therefore, pass the following order: the impugned notice dated 18.11.2013 being exhibit ??h ? to the petition issued under section 148 of the income tax act, 1961 in respect of assessment year 2009-10 and the order dated 4th february, 2015 rejecting objections of the petitioner passed by respondent no.1 are hereby set aside. there ..... admission. 3. this petition is filed seeking writ of mandamus directing respondent no.1 to withdraw and cancel the notice dated 18.11.2013 issued under section 148 of the income tax act, 1961 and the order dated 4.2.2014 rejecting the objections of the petitioner. the aforesaid impugned notice and order appears at exhibit ??h ? and ??m ? of the petition. in ..... 1997-98 to 2001-02 is not eligible for relief granted having regard to section 32(2) of the income tax act, in assessment year 2002-03. the omission has resulted in incorrect set off of unabsorbed depreciation thereby leading to short levy of tax. 17. then, there is a reference to deduction of bad debts written off and even with regard thereto, what ..... we find is that the bad debts written off and to the tune of rs.36,72,286/- is also not an adjustment specified under section 115jb of the income tax act. this has resulted in understatement of book profits to the extent indicated in the reasons leading to short levy of .....

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Mar 12 2015 (HC)

M/s Yash Society Vs. Chief Commissioner of Income Tax and Others

Court : Mumbai

Decided on : Mar-12-2015

..... whereby respondent no.1 has rejected the petitioner's application for grant of approval under section 10 (23-c) (via) of the income tax act, 1961 (for short 'the act') for a.y.2009-10 on the ground that the primary requirement of section 10 (23c) that the petitioner is established for ..... 5. for the period 1970-71 to 1998-99 the petitioner was allowed exemption under section 10 (22-a) of the act. for the assessment year 1989-90 the income tax appellate tribunal examined the issue as to whether the provisions of section 10 (22) were applicable to the petitioner-trust which ..... of the act became applicable to the petitioner with effect from a.y.2009-10 as its annual receipts exceeded rupees one crore. the petitioner, therefore, made an application dated 17.9.2009 to respondent no.1 in form no.56d as prescribed under rule 2ca of the income tax rules seeking ..... gross receipts of the petitioner which included the investment while working out the percentage of net concessional treatment. (vi) the report of the director of income tax (exemption) has not been furnished to the petitioner while rejecting the petitioner's application under section (23c) (via). in support of the submissions ..... generation of assets. 25. the reliance of the petitioner on the decision of the division bench of this court in tolanieducational institution vs director of income tax (exemption) (supra) also is of no avail. in this case, activities of the petitioner were educational and the surplus was utilized towards upgrading .....

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Mar 12 2015 (HC)

M/s. International Computers Indian Manufacture Limited Vs. The Commis ...

Court : Mumbai

Decided on : Mar-12-2015

..... this court in the case ??indosweengineers (p.) ltd. vs. state of maharashtra, (101 stc 177(bombay)) ? to contend that in exercising the reference jurisdiction under section 256(1) of the income tax act, this court should not limit itself to the questions which are referred by the tribunal or the aspect which came to be decided by the tribunal, but may consider diverse ..... in this appeal. firstly, whether the tribunal was right in holding that the stamp duty paid on debenture issue was an allowable item of deduction under section 35d of the income-tax act, 1961. section 35d deals with amortisation of certain preliminary expenses. under section 35d(1) where an assessee, being an indian company, incurs, after march 31, 1970, expenditure specified in sub ..... g.s. kulkarni, j. 1. by this income tax reference under section 256(1) of the income tax act,1961 (for short ??the act ? ), the income tax appellate tribunal (tribunal) has referred the following questions of law for decision of this court:- ??(i) whether on the facts and in the circumstances of the case, the tribunal was ..... very well be said to fall within the provisions of section 35d of the act. 12. in the decision of rajasthan high court in the case of ??autoliteindia ltd. vs. commissioner of income tax, (264 itr 117) ? following the decision of the division bench of this court in ??commissioner of income tax vs. mahindra ugine and steel co.ltd. ? (supra), the rajasthan high court held .....

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Feb 23 2015 (HC)

Rallis India Ltd. Vs. Commissioner of Income-tax (Appeals)- XXI, Mumba ...

Court : Mumbai

Decided on : Feb-23-2015

..... and 2nd february, 2007 issued by the district valuation officer (dvo) under section 55a of the income tax act, 1961 (the act). the substance of the petitioner's challenge is to the jurisdiction of the commissioner of income tax (appeals) [cit(a)] under the act to make a reference to the district valuation officer (dvo) in an appeal before it for ..... determining the fmv (fmv) of land as on 1st april, 1981. it is this reference by the cit(a) which led to the issue of ..... by the assessing officer as section 143(3) of the act does not refer to cit(a). in terms of section 143(3) of the act, it is only the assessing officer who can allow or reject a claim and arrive at the taxable income. thus, we do not find any substance in the submissions ..... of the petitioner that in view of the fact that section 55a of the act does not mention cit(a), the section cannot be invoked by him. it also must ..... our notice that counsel for the revenue has filed his vakalatnama only on 2nd february, 2015 wherein the name of the respondent was indicated as commissioner of income tax-3 who incidentally is not one of the parties to the petition. in the above circumstances, we again kept the matter 'for directions' on 6th .....

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Feb 18 2015 (HC)

Commissioner of Income-tax, Mumbai City -II Vs. Sham L. Chellaram

Court : Mumbai

Decided on : Feb-18-2015

..... between the income arising from assets and that arising from the sale of the assets in the ..... m.s. sanklecha, j. 1. this appeal by revenue under section 260a of the income tax act, 1961 (the 'act') assails the order dated 12th july 1999 passed by the income tax appellate tribunal (the 'itat'). 2. the assessment year involved is assessment year 1992-93. 3. the appeal was admitted on 10th september 2001 on the following substantial question of law: " ..... context of sale of agricultural lands. it held that income in both cases arise/ spring from the asset. if asset produces ..... would fall under head 'investment income'. for the purpose of coming to the aforesaid conclusion, reliance was placed upon the decision of the apex court in sevantilal m. sheth v. cit 68 itr 503. in sevantilal m. sheth (supra), the supreme court while dealing with the issue of clubbing of income has held under the income tax act, 1922 (the '1922 act') that there is no difference .....

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Feb 13 2015 (HC)

Somerset Place Co-operative Housing Society Ltd. Vs. Income Tax Office ...

Court : Mumbai

Decided on : Feb-13-2015

..... an authentic pronouncement of the supreme court. promptly the matter was entrusted to the counsel for moving the high court by an appropriate application under section 256(2) of the income-tax act. a delay of about 25 days was occasioned for factors attributable to personal inability of the counsel for which the litigant cannot be blamed. factors like gross negligence, contumacy or ..... . by an order dated 7.2.2014, this miscellaneous application came to be rejected by the tribunal. the applicant, therefore, decided to prefer this appeal under section 260a of the income tax act,1961 to assail the judgment dated 31.10.2008 passed by the tribunal for the assessment year 2003-04. the last date to file the appeal was 24.4.2009 ..... this notice of motion seeking condonation of delay of about five years (1825 days) in filing an appeal under section 260a of the income tax act,1961 (for short ??the act ? ) against the order dated 31.10.2008 passed by the income tax appellate tribunal (for short ??tribunal ? ) for the assessment year 2003-04. 2. the tribunal's order was received by the applicant on 26 ..... the case at hand the decision was given by the tribunal rejecting the petitioner's application under section 256(1) of the income-tax act on 30.5.95 forming an opinion that the issue being governed by an available decision of jurisdiction high court, no referable question of law arose from its appellate order. .....

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