Judgment Search Results Home > Cases Phrase: income tax act 1961 chapter vii incomes formaing part of total incomeon which no income tax is payable Page 100 of about 1,149 results (0.220 seconds)

The Commissioner of Income Tax and Another Vs. V.S. Dempo and Co. Pvt. ...

Court : Mumbai

..... its proper perspective and in the backdrop of the controversy before this court. 16. for properly appreciating the contentions raised before us, it would be necessary to refer to the income tax act, 1961. the arrangement of sections therein commencing from and divided into several chapters would indicate that chapter ii titled basis of charge is preceded by the preliminary provisions in chapter i ..... assessment under section 172(7), the non-resident assessee is liable to pay interest under sections 234b and 234c and also entitled to receive interest under section 244a of the income-tax act, 1961 as the case may be. circular no. 9/2001, dated 9-7-2001. 36. it is vehemently contended that the revenue cannot argue anything contrary to this circular. this circular .....

Mitsui and Company Ltd. Vs. Deputy Commissioner of Income Tax

Court : Delhi

Reported in : (1999)65TTJ(Del)1

..... -11-1998, in cw no. 4024/98 observing as under :'the grievance raised in this petition is very limited. penalty proceedings under section 271c of the income tax act, 1961 were initiated and finalised by the deputy commissioner, range 23, new delhi, against the petitioner resulting into a penalty of rs. 6,99,82,700 being ..... against the common order of the commissioner (appeals) for the financial years 1989-90 to 1994-95 confirming the penalties levied under section 271c of the income tax act, 1961. since the facts are common, these appeals have been heard together and are decided by this consolidated order.2. the assessees involved have raised the common ..... may, 1995 : the project office gave information among others as under :'2. mitsui is filing tds returns as required by the income tax act, 1961. the returns are being filed under the jurisdiction of the income tax officer, tds 22(5), new delhi.3. the employees have been provided with some or all of the following payments, allowances and .....

Commissioner of Income-tax, Vs. Sabarkantha Zilla Kharid Vechan Sangh ...

Court : Gujarat

Reported in : [1977]107ITR447(Guj)

..... apportionment. in our opinion, the only way the scheme can be worked under the income-tax act, 1961, in connection with the incomes forming part of total income on which no income-tax is payable covered by chapter vii, is by adopting the procedure that the income-tax officer has done; otherwise a very curious result is likely to follow if the argument ..... , the principal point was in connection with section 10(2) (iii) or section 10(2) xv) of the act of 1922, now replaced by section 37, or similar other provision of the income-tax act, 1961, and the ratio decidendi which flows from this line of authorities is only to the effect that if an assessee has ..... return the assessee claimed exemption of rs. 89,976 under section 81(1) (a) of the income-tax act, 1961, stating that the said amount represented the gross profits on the sale of agricultural implements, etc., to its members. the income-tax officer did not accept the assessees claim and observed that the provisions contained in section 81(1)(d .....

Cit Vs. Vijay Ship Breaking Corporation and ors.

Court : Gujarat

Reported in : (2003)181CTR(Guj)134

..... activity for manufacture or production of any article or thing for the purposes of availing the benefit of deductions under sections 80hh and 80-i of the income tax act, 1961. the tribunal was, therefore, wrong in holding that the ship-breaking activity gives rise to manufacture and production of altogether new articles or things and in ..... of the agreement, wait for the long process of having the matter assessed and then tested by way of an appeal, etc., under the provisions of the income tax act, 1961. it was held that, under the circumstances, the existing machinery by way of regular assessment was totally inadequate and unsuitable for the problems that were faced by ..... of the definition of the term 'interest' under section 2(28a) of the income tax act, 1961.(2) the assessees who did not deduct tax at source under section 195(1) of the income tax act, 1961 on the usance interest payable outside india and on which tax had not been paid, are not entitled to deduct the amounts of such usance .....

Dr. Prannoy Roy and anr. Vs. Cit and anr.

Court : Delhi

Reported in : (2002)172CTR(Del)465

..... the andhra pradesh high court recently in sms schoolman siemag v. dy. cit : [2001]250itr97(ap) . while interpreting the provisions of sections 156 and 220(2) of the income tax act, 1961 (in short, the act), as inserted by taxation laws (continuation and validation of recovery proceedings) act, 1964, it was noticed that :'interest is payable if a sum ..... 234a of the income tax act, 1961 (hereinafter referred to as the act) is in question in this writ petition.2. the brief facts are as under :the petitioners earned substantial capital gains for the assessment year 1995-96 for which the return was due to be filed on 31-10-1995. however, taxes due were paid ..... (1990) 182 itr 371, wherein it was stated :'payment of mandatory interest to replace various interests and, penalties :10.1. the old provisions in the income tax act, which gave the assessing authorities discretionary powers to charge interest and also to levy penalties for the same default, were found to be rather complicated. these were .....

M/s. Lakshminirman Bangalore Pvt. Ltd., Rep. by its Managing Director ...

Court : Karnataka

..... vires of the constitution of india vide annexures-a, a1 and a2.) 1. in all these petitions the constitutional validity of section 234e of the income tax act, 1961 (for short act') has been challenged contending it is ultra vires of constitution of india and/or to declare by an appropriate writ that under the newly inserted section ..... a1-a5. these writ petitions are filed under articles 226 and 227 of the constitution of india praying to declare the newly inserted section 234e to income tax act 1961 by finance act 2012 as violative of articles 14, 265 and 277 and thus ultra vires the constitution of india in so far as the petitioner is concerned. these ..... these writ petitions are filed under articles 226 and 227 of the constitution of india praying to declare and strike down provisions of sec.234e of the income tax act, 1961 as unconstitutional and violative of article 14 of the constitution of india. these writ petitions are filed under articles 226 and 227 of constitution of india praying .....

Commissioner of Income-tax Vs. Madras Motor and General Insurance Co. ...

Court : Chennai

Reported in : (1986)51CTR(Mad)71; [1986]159ITR601(Mad)

..... assessee is a general insurance company. in respect of the assessment year 1969-70, it claimed relief both under sections 80k and 80m of the income-tax act, 1961. the income-tax officer rejected the claim. however, on appeal, the appellate assistant commissioner, following the tribunals order in respect of the same assessee for the assessment ..... mad) which related, as already stated, to the assessment years 1963-64 and 1964-65 with reference to rebate under section 99(1)(iv) of the income-tax act, 1961. this was on the basis that the ratio of the judgment given with reference to section 99(1)(iv) would be equally applicable in construing the provisions ..... interpretation placed on that provision.while the matter stood there, parliament intervened and by the finance (no. 2) act of 1980 inserted two sections, namely, sections 80aa and 80ab in chapter vi-a of the income-tax act, 1961, and those provisions read as follows :'80aa. computation of deduction under section 80m. - where any deduction .....

Director of Income Tax (International Taxation Vs. M/s. Mahindra and M ...

Court : Mumbai

..... the tribunal dealt with the issue as to whether any time limit can be prescribed for passing of the order under section 201(1) of the income tax act, 1961. in relation to that the tribunal considered the contentions of the revenue that the legislature in its wisdom had chosen not to prescribe any time limit ..... to certain conditions. after scrutinizing the material before him, the assessing officer proceeded to examine the applicability of section 9(1)(vii) of the income tax act, 1961 (for short, i.t. act) to see if technical, managerial or consultancy services were rendered by the lead managers in both these issues by assisting, managing and underwriting. he ..... , telephone etc.. the details of these two euro issues have been more elaborately recorded in the order passed by the assessing officer under section 195 of the income tax act, 1961. as regards the first euro issue, the company came out with an offering circular dated 30.11.1993 offering 87,36,559 global depository receipts (gdrs) .....

K. Vs. Abdulla V. Income Tax Officer and anr.

Court : Karnataka

Reported in : (1986)56CTR(Kar)41

..... ) of sub-s. (2) of s. 2 of the finance act. the assessing authority has aggregated the agricultural income of the petitioner with the net income and levied income-tax only on the total income as provided under sub-s. (2) of s. 2 of the finance act.7. the question in this case relates to the correct interpretation of ..... also to declare the provision relating aggregation of agricultural income for rate purposes, as unconstitutional offending art(s) 14 and 19 of the constitution.2. the facts leading to this petition are these :the petitioner is an assessee under the it act, 1961 (hereinafter referred as the act). he has his year of accounting ending on 31st ..... of march every year. for the asst. yr. 1976-77 the finance act, 1976 (finance act), was applicable to the petitioner and he filed his return declaring his income from his business property as also income from agriculture. he, .....

The Commissioner of Income-tax, Bangalore and Another Vs. M/S. Namdhar ...

Court : Karnataka

..... appeal is filed u/s 260-a of the income tax act, 1961 praying to set aside the order passed by the itat, bangalore in ita no.3102/bang/2004 dated 14.07.2006 confirming the order of the appellate commissioner and confirm the order passed by the asst. commissioner of income tax, circle-12(1), bangalore.) 1. ita 75/ ..... by the assessee by trading in processed seeds would amount to agricultural activity on land taken on lease and is contract farming considered as agricultural income exempt under section 10(1) of the income tax act (act for short) by following the view expressed in earlier cases? 11. this court admitted ita no.75/2007 on the following substantial ..... above said decision also proposes that contravention of any other law could not be invoked as the constitutional mandate is to treat the definition of agricultural income as per income tax act for all purposes. 26. then coming to third issue, whether the activity of the assessee in making the hybrid seeds as marketable is an activity .....