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Commissioner of Income Tax, Bangalore and anr. Vs. Century Building In ...

Court : Supreme Court of India

Reported in : (2007)211CTR(SC)292; [2007]293ITR194(SC); JT2007(10)SC106; 2007(9)SCALE691; (2007)7SCC262

..... was right in holding that there was no obligation on the part of the assessee-company to comply with the statutory requirements of section 194a of the income-tax act, 1961 (for short, 'the act') by deducting tax deductible at source (tds) on interest paid by it for loans availed of by the assessee and repaid by it with interest on the ground that the ..... (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that act);(vii) to such income credited or paid in respect of,-(a) deposits with a primary agricultural credit society or a primary credit society or a co-operative land mortgage bank or a cooperative land development bank;(b) deposits (other than time deposits made on or .....

Sudisha Farm Nursery Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)88ITD638(Delhi)

..... agricultural operations were carried out then income from the sale of agricultural produce would amount to agricultural income. there is nothing in the act which may allow to tax such income on the reasoning adopted by the cit(a). in our considered opinion, once the income falls within the scope of expression 'agricultural income', ..... it has to be excluded from the total income of the assessee in view of section 10 of the act ..... are carried out in continuation of basic operations then, in our considered opinion, income from such nursery would be agricultural income not liable to tax under section 10 of the act. however, if the nursery is maintained independently without resorting to basic operations on the .....

Kranti Kumar Saxena, in Re

Court : Madhya Pradesh

Reported in : (2002)178CTR(MP)455

..... appreciate the arguments as advanced by the learned counsel for parties appearing before me, it is necessary to quote the provisions of section 194a and section 204 of the income tax act, 1961 which reads as under :'194a. interest other than 'interest on securities'.(1) any person, not being an individual or an huf, who is responsible for ..... the executing court that firstly the executing court decided to deduct this amount and to credit it to the income tax department but later on under section 194a of the income tax act, 1961, it appeared to the court that tax on the amount of interest is to be deducted by the person who is actually responsible for its payment ..... (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that act),(viia) to such income credited or paid in respect of, (a) deposits with a primary agricultural credit society or a primary credit society or a co operative land mortgage bank or a co operative land development bank ,(b) deposits ( .....

In Re: Kranti Kumar Saxena

Court : Madhya Pradesh

Reported in : [2003]262ITR33(MP)

..... appreciate the arguments as advanced by learned counsel for the parties appearing before me, it is necessary to quote the provisions of section 194a and section 204 of the income-tax act, 1961, which read as under : '194a. interest other than interest on securities.--(i) any person, not being an individual or a hindu undivided family, who ..... the executing court that firstly the executing court decided to deduct this amount and to credit it to the income-tax department but later on under section 194a of the income-tax act, 1961, it appeared to the court that tax on the amount of interest is to be deducted by the person who is actually responsible for its ..... (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that act) ;(viia) to such income credited or paid in respect of,-- (a) deposits with a primary agricultural credit society or a primary credit society or a co-operative land mortgage bank or a cooperative land development bank ;(b) deposits ( .....

B. Nagi Reddi Vs. Cit

Court : Chennai

Reported in : (2002)177CTR(Mad)129

..... garden could, under those circumstances, (not) be viewed as the agricultural income,6. the term agricultural income is defined in section 2(1) of the income tax act, 1961, which reads as follows :'agricultural income' means(a) any rent or revenue derived from land which is used for agricultural purposes and is either assessed to land revenue in india or is ..... whether, on the facts and in the circumstances of the case, the tribunal is right in holding that the income from shooting hire charges is not agricultural income within the meaning of section 2(1) of the income tax act, 1961 for the assessment years 1980-81 and 1981-82 ?3. the assessee had shown the loss of ..... benoy kumar sahas roy : [1957]32itr466(sc) . in the said decision, the supreme court was considering the definition of the term agricultural income as it was found in the income tax act, 1922. the question came for consideration on the peculiar factual background inasmuch as the assessee there owned about 6,000 acres of forest land .....

Deputy Commissioner of Income Tax Vs. Smt. Kamakshidevi

Court : Income Tax Appellate Tribunal ITAT

..... assessment year, this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely : "(i)(a) agricultural land and growing crops (including fruits on trees), grass or standing trees on such land; (b) one building or one group of buildings owned or occupied by a cultivator ..... april, 1982), this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely : "(i) (a) agricultural land other than land comprised in any tea, coffee, rubber or cardamom plantation; (b) any building owned or occupied by a cultivator of, or receiver of rent or revenue ..... in question in respect of which compensation is receivable from the government is 28 acres of land at bangalore palace which comes under the urban land ceiling and regulation act,' 1976. the cit(a) following his reasoning given in a similar case of smt indrakshidevi in wta nos. 3, 4 & 5/c-vi/c1t(a)-ii 1998-99, .....

Deputy Commissioner of Vs. Kamakshidevi

Court : Income Tax Appellate Tribunal ITAT

..... or any subsequent assessment year, this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely :-- "(i) (a) agricultural land and growing crops (including fruits on trees), grass or standing trees on such land; (b) one building or one group of buildings owned or occupied by a cultivator of ..... day of april, 1982), this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely:-- "(i) (a) agricultural land other than land comprised in any tea, coffee, rubber or cardamom plantation; (b) any building owned or occupied by a cultivator of, or receiver of rent or revenue out ..... the assessment years starting from 1993-94 onwards in view of the change in law by the amendment to section 2(ea) of the wealth-tax act, 1957 w.e.f. 1-4-1993. the learned counsel refers to the definition of "urban land" in the amended provisions and points out that the land in .....

Dy. Cit Vs. Smt. Kamakshidevi

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2001)79ITD650(Bang.)

..... 900 in respect of the each of the present assessees, the amount receivable by them under the ulcr act comes to rs. 2 lakhs only. in view of this position, it is found that the income tax appellate tribunal, bangalore bench in wealth tax act nos. 39 to 41/bang/93, dated 31-8-1998 in the case of acwt v. ..... subsequent assessment year, this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely : "(i)(a) agricultural land and growing crops (including fruits on trees), grass or standing trees on such land; (b) one building or one group of buildings owned or occupied by a cultivator ..... 1-4-1982), this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely : "(i) (a) agricultural land other than land comprised in any tea, coffee, rubber or cardamom plantation; (b) any building owned or occupied by a cultivator of, or receiver of rent or revenue .....

A.B. Foot Style (P) Ltd. Vs. Union of India (Uoi)

Court : Kolkata

Reported in : 1999(65)ECC367,1999(111)ELT684(Cal)

..... court in the case of r.p. david & ors. v. agricultural income tax officer and anr., reported in : [1972]86itr699(mad) . the madras high court was considering the proviso to section 40 of the madras agricultural income tax act, 1955 which vests the agricultural income tax officer with the discretion to treat the assessee as not being in ..... followed by the mysore high court in the case of bibi plantation v. agricultural income tax officer, reported in 1967 income tax report, volume 65 page 341 where the mysore high court was considering the proviso to section 41 of the mysore agricultural income tax act, 1957 which stated, inter alia, that when an assessee has presented an ..... appeal under section 32 of the act, the agricultural income tax officer may in his discretion treat the assessee as not being in default as .....

Shankaranarayana Construction Co. and ors. Vs. State of Karnataka and ...

Court : Karnataka

Reported in : [1999]239ITR902(KAR); [1999]239ITR902(Karn)

..... a different assessable unit, namely, the partner is not entitled to set off the loss from the income of the firm. there is no provision under the income-tax law as in the case of j. h. gotla , like that of section 24(2) in the agricultural income-tax act and in the absence of such a provision assistance of any other section could not be taken ..... that by virtue of the amendment by the karnataka taxation laws (amendment) act, 1994, karnataka act no. 18 of 1994, the karnataka agricultural income-tax act, 1957, has been amended and registered partnership firms have been made as assessable units, but the partners who had unabsorbed loss prior to the commencement of the amendment act have not been given the set off. it is submitted that either .....