Judgment Search Results Home > Cases Phrase: agricultural income tax act 1957 section 38 power to take evidence on oath etc Sorted by: recent Court: income tax appellate tribunal itat chennai

The Income-tax Officer, M/S. Sarvodaya Mutual Ward I(1) Vs. Benefit Tr ...

Court : Income Tax Appellate Tribunal ITAT Chennai

..... course of assessments is that the assessee trusts are paying interest to snbfcl without deducting tax at source. the assessing officer held that the assessees are bound to deduct tax at source under section 194a of the income-tax act, 1961. but, tax was not deducted. the assessing officer, therefore, held that section 40(a)(ia) ..... boodhan land, assefa will arrange funds from nationalized banks for distributing among the boodhan land allottees, so that they can indulge in different activities including agricultural, for creating an environment of sustainable growth. assefa is a national nodal agency engaged in the upliftment of rural people through programmes designed for sustainable development ..... parts of india. those lands were allotted to landless poor villagers. but, the villagers were not in a position to raise resources to carry on agricultural and other related activities in the land allotted to them. it created a situation that inspite of land allotted to them, the poor people were .....

Smt. N. Sasikala Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)115TTJ(Chennai)563

..... ) disputing the additions relating to disallowance of depreciation on vehicles; disallowance of loss from m/s metal king; disallowance of agricultural income by treating it as undisclosed income totalling to rs. 5,62,621. the cit(a) vide order dt. 26th march, 1998 set aside the assessment order with following observations: (i) the ao had failed to ..... had to be considered; (viii) no enquiry was made in the course of the assessment proceedings which culminated in an order under section 144 of the act.accordingly, the cit considered the reply of the assessee. finally he set aside the assessment order dt. 20th march, 2000 and directed the ao to make full enquiry and ..... person, (ii) valuation report, (iii) wrong relief already granted and (iv) perusal of income-tax records relating to other assessees-all under the it act-and nowhere it has been held that the records in any proceedings under some other act can be used for section 263 even though they could have been used for purposes of reopening .....

Deputy Commissioner of Income Tax Vs. Ms. J. Jayalalithaa

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)111TTJ(Chennai)875

..... , it can be presumed that in the preceding year also the same amount of income was earned by the assessee on account of agricultural operation.10. we find that the report of the horticultural department was not in the context of income-tax assessment. it contained merely a rough estimate of agricultural income. we have noted that before completing the original assessment the ao did visit ..... . the solitary common issue raised by the assessee in the cross-objections relates to the validity of the assessments made pursuant to the notice issued under section 148 of the it act, 1961.3. we have heard the rival submissions. the original assessment for the asst. yr. 1987-88 was completed on 23rd dec. 1994. later it was reopened under section 147 .....

Dxn Herbal Manufacturing (India) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)110ITD99(Chennai)

..... in a slightly different context. it was considering the meaning of the term "produce" used in the kerala general sales-tax act, 1963. the expression used was "the person who sells goods produced by him by manufacture, agriculture, horticulture or otherwise". the question has arisen whether spontaneously grown plants which were cut by the assessee and sold in ..... existence. there is no change in the basic identity of the product and taste of the product.19. as per section 80-ib of the it act, where the gross total income of the assessee includes the profit and gains derived from any business refer to sub-section as eligible business and subject to provisions of this section ..... , be allowed, in computing the gross total income of the assessee, a deduction from such profits and gains of an amount equal to such percentage and for such number of assessment years as specified in this .....

Vasu Farms (P) Ltd Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)95ITD125(Chennai)

..... tea plantation. accordingly to the learned counsel, there is a specific provision in the income tax act for computing the income from tea plantation. even though tea plantation is primarily being an agricultural operation, in view of the specific provisions contained in the income tax act, a part of the income was classified as income under the income tax act. the learned representative further submitted that rule 8 of the it rules, 1962 ..... , provides for computation of income from sale of tea grown and manufactured by the seller. the learned representative submitted .....

Vasu Farms (P.) Ltd. Vs. the Dy. Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)95TTJ(Chennai)1051

..... is a specific provision in the income tax act for computing the income from tea plantation. even though tea plantation is primarily being an agricultural operation, in view of the specific provisions contained in the income tax act, a part of the income was classified as income under the income tax act. the learned representative further submitted that rule 8 of the income tax rules 1962 provides for computation of income from sale of tea grown ..... realized in respect of cancerous. therefore, the learned representative submitted that the legislature intended to treat the livestock differently form that of agricultural product and the plant. the learned representative further invited our attention to section 43(3) of the income tax act and submitted that the word "plant" includes ship, vehicle, books, scientific apparatus and surgical apparatus used for the purpose of business .....

Vellammal Educational Trust Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)95TTJ(Chennai)665

..... as agricultural income were siphoned off from the trust. in short, no link/nexus between such ..... by itself does not appear sufficient reason to conclude that there were no incomes earned by these individuals. true, it may be the case that some incomes so earned were shown as agricultural income without the fact of holding any agricultural land to derive his income. while this act may call for taxing of the that agricultural income, it too cannot be a reason to conclude that the monies represented .....

Smt. N. Kaasivisalam Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)93TTJ(Chennai)537

..... 2,317 11 x 60 x 351 100 --------- 2,72,683less : proportionate cost of development expenses(11x1300) 14,300net capital gains 2,58,383total income 2,58,383 ---------agricultural income 1,00,000 --------- the cit(a) in para 22 of his order had deleted rs. 28 lakhs which the assessee claimed as receipt of on-money and which the ao ..... 1999-2000.25. for the asst. yrs. 1995-96 and 1997-98 though factually the assessee would have got a claim for deduction under section 54f of the act, it would become academic because we have quashed the assessments on jurisdictional aspect itself.26. in the result, the appeals preferred by the assessee are allowed and the ..... that the learned departmental representative pointed out that for the asst. yr.1999-2000 the assessee had shown capital gains and claimed exemption under section 54f of the act on the basis of completed sale. he submitted that this is something specific and related to the accounting technology and that this also showed that her intention was .....

Khizaria Leathers Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)99TTJ(Chennai)616

..... is taken or accepted and the person by whom the loan or deposit is taken or accepted are both having agricultural income and neither of them has any income chargeable to tax under this act. (i) "banking company" means a company to which the banking regulation act, 1949 (10 of 1949), applies and includes any bank or banking institution referred to in section 51 of that ..... year involved in this appeal is 1992-93.2. the only issue in this appeal is that the cit(a) has wrongly confirmed the penalty order passed under section 271d of the it act, 1961.3. briefly stated facts are that the assessee firm filed its return of income for the asst. yr. 1992-93 which was assessed under section 143(3) of the .....

thenamal Chhajjer Vs. Joint Commissioner of I.T.,

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)98TTJ(Chennai)449

..... question are genuine, the commissioner of income tax (appeals) is not legally justified in confirming the penalty under section 271d. ..... sum of rs. 13,35,000. 2. the commissioner of income-tax (appeals) ought to have accepted the factual position that no offence is committed under section 269ss as borrowing is from persons having agricultural income and having no income liable to tax under the income-tax act 1961 3. the assessing officer having accepted that all loans in ..... to any loan or deposit if, the loan or deposit is taken or accepted, both the persons are having agricultural income and neither of them has any income chargeable to tax under this act. it is seen that the persons who are provided loans are agriculturists and in the present case, the assessee .....