Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2007)106ITD362(Mum.)
..... was left open by the high court. the learned departmental representative relied on the hon'ble supreme court decision in the case of poothundu plantations pvt. ltd. v. agricultural income tax officer and ors. 221 itr 557, wherein it was held that only an apparent error of fact or law can be rectified. if the mistake of law has ..... substantiate his claim. ground no. 10 is allowed for statistical purposes.47. ground no. 11 pertains to charging of interest under section 234b and 234c of the income-tax act. we restore this issue to the ao to be considered in the light of the direction given by us while deciding similar grounds of appeal for the assessment ..... the present proceedings and therefore, this ground of appeal stands rejected.50. the last ground of appeal pertains to charging of interest under section 220(2) of the income-tax act. charging of interest is only consequential as per the first proviso to section 220(2) and therefore, the ao is directed to recalculate such interest.51. in the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2008)113ITD85(Mum.)
..... high court in the case of iswara bhat. in that case, the hon'ble high court considered the issue in the context of the kerala agricultural income-tax act, 1950. however, the ratio is equally applicable under the income-tax act. the hon'ble kerala high court came to the said conclusion on the basis of the general principle of law that it is trite law ..... on such interest payments and if it was not so deducted, then calling upon them to show as to why the provision of section 40(a)(i) of the income-tax act, 1961 ("the act" for short), should not be invoked in the assessee's case and why the entire interest paid outside india should not be disallowed in the course of assessment. ..... crude oil. the company was incorporated in 1988 as india's first joint sector company to carry out a grass root refinery project. a survey under section 133a of the income-tax act was carried out on 28/8/02 at the premises of m/s. mrpl, arcadia, 7^th floor, 195, ncpa marg, nariman point, mumbai. during the course of .....
Tag this Judgment!Court : Mumbai
Reported in : [1974]95ITR546(Bom)
..... agricultural land), valued at more than fifty thousand rupees, no registering officer appointed under that act shall register any such documents, unless the income-tax officer certifies that - (a) such person has either paid or made satisfactory provision for payment of all existing liabilities under this act, the excess profits tax act 1940 (15 of 1940), the business profits tax act, 1947 (21 of 1947), the indian income-tax act ..... 1922 (11 of 1922), the wealth-tax act, 1957 (27 of 1957), the expenditure-tax act, 1957 (29 of 1957), and the gift-tax act, 1958 (18 of ..... respondents, contended that, having regard to the scheme and provisions of section 34 of the wealth-tax act, 1957, and the provisions of section 230a of the income-tax act, 1961, the sub-registrar while considering the question of registration of a document is not entitled .....
Tag this Judgment!Court : Mumbai
Reported in : (1965)67BOMLR394; [1965]57ITR455(Bom)
..... loss.' 9. in a recent case of the supreme court, state of madras v. g. j. celho, under the madras plantations agricultural income-tax act, 1955, the assessee claimed in computing his agricultural income from his plantations, the entire interest paid by him on monies borrowed for the purpose of purchasing the plantations as expenditure laid out ..... assessee from the profits and gains of his business for the under a provision of the madras plantation agricultural income-tax act, which was identical with the provision of section 10(2)(xv) of the indian income-tax act. after having applied the tests, the supreme court held that the payment of interest was a revenue ..... for the purposes of the plantation under section 5(e) of the said act. it may be pointed out that the in the madras plantations agricultural income-tax act there was no provision corresponding to section 10(2)(iii), of the indian income-tax act, which allowed the deductions of interest on borrowed capital. the provision of section .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1973Bom285; (1973)75BOMLR166; 1973MhLJ552
..... agricultural land), valued at more than fifty thousand rupees, no registering officer appointed under that act shall register any such document, unless the income-tax officer certifies that - (a) such person has either paid or made satisfactory provision for payment of all existing liabilities under this act, the excess profits tax act, 1940 (15 of 1940), the business profits tax act, 1947 (21 of 1947), the indian income-tax act ..... , 1922 (11 of 1922), the wealth tax act, 1957 (27 of 1957) the expenditure tax act, 1957 (29 of 1957), and the gift tax ?act, 1958 (18 of ..... respondents, contended that having regard to the scheme and provisions of section 34 of the wealth tax act, 1957, and the provisions of section 230-a of the income-tax act, 1961, the sub-registrar while considering the question of registration of a document is not .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1997)60ITD57(Mum.)
..... only a prima facie belief that the assessee has wrongly claimed the deduction. it had further held the following : "the word 'detection' has not been defined in the income-tax act, 1961. dictionary meaning of the word 'detection' is discovery of something hidden' or not easily observed; 'state of being found out'. from the dictionary meaning of ..... board. under the circumstances it had to be held that the information in the form of retrospective cancellation of the approval of the concerned institution as an agricultural institute within the meaning of section 35(1)(ii) by notification dated january 2, 1986, was invalid. the notice of reassessment based on that notification was ..... ,88,51,600 and it was approved for the period from 17-7-1981 to 30-6-1984. though the approval also is sought for nutrition and agricultural programme, the said programme was not approved. even the programme for running the cancer detection centre was approved with the condition that the facilities are restricted to .....
Tag this Judgment!Court : Mumbai
Reported in : [1974]94ITR616(Bom)
..... be sufficient to make reference to the judgments of the supreme court in champalal binani v. commissioner of income-tax, joharmal murlidhar & co. v. agricultural income-tax officer, assam, calcutta discount co. ltd. v. income-tax officer and k. p. varghese v. income-tax officer. 9. as stated earlier, the present one appears to us to be a very hard ..... relief under article 226 of the constitution. 149. notice may be taken of another judgment of the supreme court in joharmal murlidhar and co. v. agricultural income-tax officer, assam. in that case it was held that the high court was entitled to refuse to interfere on the ground that statutory remedy was not ..... case. the gold sought to be smuggled has been confiscated. apart from the penalty imposed under the sea customs act, the petitioner .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR304
..... c). now that would be a construction totally repugnant to all one's conceptions of the income-tax act, because it has been held over and over again that agricultural income is totally outside the ambit and purview of the income-tax act. but a simpler answer to the advocate general's contention is the definition of 'total ..... world income' contained in section 2(15) where 'total world income' is defined as including all income, profits and gains wherever accruing or arising except income to which ..... section means not only actual receipt but also what is deemed to be received under the act. if we were to accept the contention of the advocate general, though agricultural income is one of the classes of income exempted under the act, if a revocable trust had been created with regard thereto, the assessee would not .....
Tag this Judgment!Court : Mumbai
Reported in : [1948]16ITR109(Bom)
..... is only deemed to have received it under section 16 (1) (c). now that would be a construction totally repugnant to all ones conceptions of the income-tax act because it has been held over and over again that agricultural income is totally outside the ambit and purview of the income-tax act. but a simpler answer to the advocate-generals contention is the definition of 'total world ..... income' is defined as including all income, profits and gains whether accruing or arising except income to which, under the provisions of sub-section (3) of section 4, this act does not apply. therefore that .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(6)ALLMR659; 2006(6)MhLj616
..... in hindustan aeronautics's case is of no help to the appellant as that was in relation to the income tax act. a statutory provision in one act cannot be understood or interpreted by referring to a statutory provision in another act. the decision in devi singh's case is also of no help to the appellant. therein it was ..... 45, the same cannot be construed in such a manner which will defeat the very purpose for which the said act has been brought into force. effective implementation of the law relating to ceiling of agricultural holding and the consequential distribution of the excess land to the landless people cannot be attained unless the provision of ..... whereby the petition filed against the order of the additional commissioner in exercise of powers under section 45(2) of the maharashtra agricultural lands (ceiling on holdings) act, 1961, hereinafter referred to as 'the said act' has been dismissed.2. few facts relevant for the decision are that in exercise of powers under section 21 of the .....
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