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Kerala State Industrial Development Corporation Ltd. Vs. Commissioner ...

Court : Kerala

Reported in : [1989]180ITR323(Ker)

..... before the tribunal, the assessee had relied on the circular letter written by the assistant chief officer of the industrial finance department of the reserve bank of india to the state financial corporations, wherein reference has been made to a communication of the central board of direct taxes dated november 12, 1973, to substantiate its plea that it is entitled to deduction of 10% of the total income and not of the total assessed income. ..... 204/35/73/ita-ii, dated 12th november, 1973, to the ministry of finance of the government of india that the deduction envisaged in section 36(1)(viii) is on the total income computed before making any deduction under chapter vi-a and before making any deduction under section 36(1)(viii) is not binding on the subordinate authorities as an instruction under section 119 of the act ?' 2. ..... according to the commissioner, section 36(1)(viii) of the income-tax act clearly directed computation of the allowance before making any deduction under chapter vi-a and so this necessarily implied that whatever deduction was intended by the legislature was expressly specified therein and the intention of the legislature not to make the deduction under section 36(1)(viii) also, as in the case of the allowance under chapter vi-a, clearly showed that the allowance under section 36(1)(viii) had to be deducted while computing ..... 30,41,567 by way of deduction under section 36(1)(viii) of the act, before the allowance of relief under chapter-via. .....

Commissioner of Income-tax Vs. Mathew M. Thomas and ors.

Court : Kerala

Reported in : [1993]201ITR494(Ker)

..... pending the appeal, chapter xx-c was introduced in the income-tax act by finance act of 1986 with effect fromoctober 1,1986. ..... the provisions of chapter xx-c of the income-tax act introduced by the finance act of 1986, with effect from october 1, 1986, has been explained in another circular dated july 9, 1986. ..... a division bench of this court, by order dated may 5, 1988 has referred a question whether administrative circulars issued by the central board of direct taxes under the income-tax act to supplement the statute or can supplant the same by deviating or detracting or going beyond or contrary to the statutory provisions, for consideration by a full bench. ..... with a view to achieve early finalisation of proceedings under the existing chapter xx-a of the income-tax act, 1961, the board has decided that with effect from april 1, 1986, acquisition proceedings under section 269c will not be initiated in respect of an immovable property for which the apparent consideration is rs. ..... 455 dated may 16, 1986 (see : [1986]159itr105(cal) ) issued by the central board of direct taxes. ..... subject : acquisition of immovable properties under chapter xx-a of income-tax act, 1961--guidelines--regarding. ..... proceedings under chapter xx-a of the income-tax act were initiated against the respondents-assessees. ..... the finance bill, 1986, has proposed that no proceedings shall be initiated under section 269c of the income-tax act, 1961, in respect of a property transferred after the 30th day of september, 1986 .....

Asstt. Cce and ors. Vs. V. Krishna Poduval and ors.

Court : Kerala

Reported in : (2006)199CTR(Ker)581

..... matter relates to payment of service-tax, interest and penalty under the finance act, 1994, by the respondent in ..... fraud, or(b) collusion, or(c) wilful mis-statement, or(d) suppression of facts, or(e) contravention of any of the provisions of this chapter or of the rules made thereunder with intent to evade payment of service-tax, the person, liable to pay such service-tax or erroneous refund, as determined under sub-section (2) of section 73, shall also be liable to pay a penalty, in addition to such service-tax and interest thereon, if any, payable by him, which shall not be less than, but which shall not ..... cce or, as the case may be, deputy cce in the course of any proceedings under this chapter is satisfied that any person has, with intent to evade payment of service-tax, suppressed or concealed the value of taxable service or has furnished inaccurate value of such taxable service, he may direct that such person shall pay by way of penalty, in addition to service-tax and interest, if any, payable by him, a sum which shall not be less than ..... , but which shall not exceed twice, the amount of service-tax sought to be evaded by reason of suppression or concealment of the value of taxable service or the furnishing of inaccurate .....

Assistant Commissioner of Central Excise Vs. Krishna Poduval

Court : Kerala

Reported in : (2005)199CTR(Ker)581; 2005(4)KLT947

..... matter relates to payment of service tax, interest and penalty under the finance act, 1994, by the respondent in ..... ; or(b) collusion; or(c) wilful mis-statement; or(d) suppression of facts; or(e) contravention of any of the provisions of this chapter or of the rules made thereunder with intent to evade payment of service tax, the person, liable to pay such service tax or erroneous refund, as determined under subsection (2) of section 73, shall also be liable to pay a penalty, in addition to such service tax and interest thereon, if any, payable by him, which shall not be less than, but which shall not exceed ..... may be, deputy commissioner of central excise] in the course of any proceedings under this chapter is satisfied that any person has, with intent to evade payment of service tax, suppressed or concealed the value of taxable service or has furnished inaccurate value of such taxable service, he may direct that such person shall pay by way of penalty, in addition to service tax and interest, if any, payable by him, a sum which shall not be less than ..... , but which shall not exceed twice, the amount of service tax sought to be evaded by reason of suppression or concealment of the value of taxable service or the furnishing of .....

Commissioner of Income-tax Vs. Nilgiri Tea Estate Ltd.

Court : Kerala

Reported in : [2009]312ITR161(Ker); [2009]183TAXMAN194(Ker)

..... all these provisions establish beyond doubt that the provisions of advance tax are only on income earned by the assessee during the relevant previous year and estimation of income from advance tax has to be made in accordance with the provisions of the act and tax, if any, shall be payable at the rates in force prescribed by the relevant finance act for payment of advance tax.8. ..... while the provision for advance tax under chapter xvii is on estimated income as computed by the assessee in accordance with the provisions of the act, assessment on deemed income under section 115j is on the actual income and estimation for payment of advance tax is not visualised at all. ..... , guwahati, madhya pradesh and punjab and haryana and contended that book profit under section 115j being deemed income assessable under the act, advance tax is payable and the failure of remittance of it in terms of chapter xvii of the act attracts interest under sections 234b and 234c of the act.4. ..... even though by later amendment, sections 115ja(4) and 115jb(5) provide that all other provisions of the income-tax act will apply for the purpose of chapter xii-b, we do not think the provisions of chapter xvii has any application for the tax payable under section 115j.9. ..... however, it is to be noted that tax in advance is payable under chapter xvii only on income falling under the various heads of income referred to in section 14 of the act. ..... it is in the form of deduction at source, direct payment by the assessee, etc. .....

M/S.Medical Land, Trichur Vs. Commissioner of Income Tax,kochi

Court : Kerala

..... the assessing officer or the commissioner (appeals) in the course of any i.t.a.no.221 of201226 proceedings under this chapter may direct that a person shall pay by way of penalty a sum which shall not be less than the amount of tax leviable but which shall not exceed three times the amount of tax s leviable in respect of the undisclosed income determined by the assessing officer under clause( c ) of section 158 bc" sub-section (3) provides for certain conditions to be fulfilled in the matter ..... i.t.a.no.221 of20127 as far as the second issue, namely the claim of depreciation allowance also was concerned, the tribunal took note of the words "or any expense, deduction or allowance claimed under this act which is found to be false" added to the definition of the undisclosed income vide section 158b(b) of the act by the finance act, 2002 with effect from 01/7/1995 which clinched the issue against the assessee. ..... ( or any expense,deduction or allowance claimed under i.t.a.no.221 of201231 this act which is found to be false)" the words "or any expense, deduction or allowance claimed under the act which is found to be false" was inserted by the finance act, 2002 with retrospective effect from 1.7.1995. ..... the finance act of 2002 has inserted the words "or any expense, deduction or allowance claimed under this act which is found to be false" at the end of the cl. ..... this was the case where the court did consider the effect of the words "undisclosed income" as amended by the finance act, 2002. .....

Commissioner of Income Tax Vs. K.C. John

Court : Kerala

Reported in : (2003)185CTR(Ker)352

..... legislature amended the said provision by direct taxes laws (second amendment) act, 1989 with retrospective effect from ..... on the total income' and further submitted that this also makes the position clear that if the only income of the non-resident indian, is his income from investment or from capital gains, tax has to be paid on such income at the rate of 20 per cent whereas in the case of a non-resident indian who is having other income also the expression 'chargeable' used shows that the ..... of an assessee, being a non-resident indian,--(a) the gross total income consists only of investment income or income by way of long-term capital gains or both, no deduction shall be allowed to the assessee under chapter vi-a;(b) the gross total income includes any income referred to in clause (a), the gross total income shall be reduced by the amount of such income and the deductions under ..... --(1) subject to the provisions of this section, an assessee, being--(a) an individual, or(b) an huf ** ** ** **shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to twenty per cent of the aggregate of the sums referred to in sub-section (2) :provided that in the case ..... 1983, by the finance act, 1983 for the ..... finance act, ..... 1st april, 1988, by the finance act, 1987 and the relief provided therein was introduced in sub-section (2) of section 48 .....

Cit Vs. K.C. John

Court : Kerala

Reported in : [2003]132TAXMAN793(Ker)

..... however, it must be noted that section 80t had been omitted from chapter vi-a with effect from 1-4-1988 by the finance act, 1987 and the relief provided therein was introduced in sub-section (2) of section 48 providing for of capital gains simultaneously. ..... on the total income' and further submitted that this also makes the position clear that if the only income of the non-resident indian, is his income from investment or from capital gains, tax has to be paid on such income at the rate of 20 per cent whereas in the case of a non-resident indian who is having other income also the expression 'chargeable' used shows that the other income has to be computed in ..... accordingly the legislature intended the said provision by direct taxes laws (second amendment) act, 1989 with retrospective effect from 1-4-1988, i.e. ..... for the department submitted that an assessee who is a non-resident indian, having only income from investment is not entitled to claim any deduction provided under the act in the computation of his income from investment in view of the special provisions contained in chapter xii-a of the act particularly section 115e(2)(a) read with section 115e(1) therein and that the entire investment income has to be subjected to tax at the rate of 20 per cent as provided in section 115e(1) of the ..... the counsel also relied on the departmental circular issued by the central board of direct taxes in that regard. .....

K.J. Joseph and ors. Vs. Income-tax Officer, a Ward

Court : Kerala

Reported in : [1980]121ITR178(Ker)

..... the petitioners have alleged in these writ petitions that if the two modes of income are to be aggregated and income-tax charged as provided by the finance acts of 1973 and 1974 there is a vast difference in the incidence as well as the operation of the tax (see for instance para. 4 of o.p. no. ..... , in addition to total income, and the total income exceeds five thousand rupees, then, in calculating income-tax under the first proviso to sub-section (5) of section 132 of the income-tax act or in charging income-tax under sub-section (2) of section 174 or section 175 or sub-section (2) of section 176 of the said act or in computing the 'advance tax' payable under chapter xvii-c of the said act, at the rate or rates in force,-- (a) the net agricultural income shall be taken into account, in the ..... that the revenue had two modes of assessments open to it; one, to assess the amount received by the beneficiaries as part of the income in the handis of the representative assessee under section 164, and the other, to assess it directly in the hands of the beneficiary including it in the total income of the beneficiary. .....

Commissioner of Income Tax Vs. Hotel Meriya

Court : Kerala

..... even without the proviso to section 113 (inserted vide finance act, 2002, with effect from june 1, 2002) the finance act 2001, was applicable to block assessment under chapter xiv-b in relation to the search initiated on january 17, 2001, and accordingly surcharge was leviable on the tax....it was further ruled that insertion of proviso to section ..... as a result of the search, but also in respect of all matters relevant for the purposes of any investigation connected with any proceeding under the indian income-tax act, 1911 (11 of 1922), or under this act.going by the above provision along with its explanation we find that the statement of the partner and employees recorded and documents collected are relevant and admissible in respect ..... money, bullion, jewellery or other valuable article or thing and any statement made by such person during such examination may thereafter be used in evidence in any proceeding under the indian income-tax act, 1922 (11 of 1922), or under this act.explanation: for the removal of doubts, it is hereby declared that the examination of any person under this sub-section may be not merely in respect of any books of account, ..... for the assessment years 2001-'02 and 2002-'03 upto 28.6.2001 the appellate tribunal directed the assessing officer to work out the undisclosed income by taking the profit at 25% on the ..... if there is suppression of sale or business and direction to add 25% of the concealment as profit are ..... so, should have been directly added to the net .....