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 5 of about 1,149 results (0.234 seconds)

Commissioner of Income Tax - Ii Vs. M/S Mbl and Co. Ltd

Court : Delhi

..... , advocates. coram:honble mr justice badar durrez ahmed honble mr justice vibhu bakhru judgment vibhu bakhru, j 1.these are appeals filed by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as the said act'') challenging the decisions of the income tax appellate tribunal. the tribunal has held that rebate available to an assessee under section 88e of the ..... needs to be interpreted strictly and there was nothing in the language of section 88e of the act that limited the availability of rebate only on the tax as calculated under the normal provisions of the act. the revenue preferred an appeal before the income tax appellate tribunal. the tribunal also did not accept the contention on behalf of the revenue that rebate under section .....

The Secretary to the Board of Revenue Income-tax Vs. Al. Ar. Rm. Aruna ...

Court : Chennai

Reported in : (1921)ILR44Mad65

..... but as their provisions are somewhat different, it is necessary before examining the decisions to see what the acts provide. the acts are the income-tax act of 1842 as amended by the income-tax act of 1853. the relevant sections of these acts are section 2 and schedule d of 16 & 17 vic., ch. 34, which has been substituted ..... commissioner v. blott [1920] 2 k.b., 257 , with reference both to the super-tax act and the income-tax act, 'it is income and income only which is brought into charge.'4. the tax on income derived from business, which is the class of income with which we are dealing, has never been charged on the actual receipts of the year, ..... k.b., 35 has become available. it was there held that the words in schedule d, 'profits on discounts' and 'profits on interest,' in the income-tax act must mean profits arising from discounts received on discounting transactions and profits arising from interest received on securities bearing interest, and lord stendale, mr., observed:the amount .....

Britannia Industries Ltd. Vs. Joint Commissioner of Income-tax and ors ...

Court : Kolkata

Reported in : (2005)193CTR(Cal)26,[2004]271ITR123(Cal)

..... assessment year. the question raised in this case relates to the eligibility of deduction under section 32ab of the income-tax act, 1961. having regard to section 32ab as it stood then whether the income derived under the head 'income from business or profession' only would be eligible for deduction under section 32ab(l)(ii) or this deduction would ..... to be computed and conceived according to the provision contemplated in sub-section (3). the eligibility is not dependent on the computation under the income-tax act, but on sub-section (3). the eligibility to and eligibility of have been made distinct by reason of these provisions when read with sub- ..... mercantile bank ltd. : [2002]255itr205(mad) had held that the computation of income under the provisions of the income-tax act is of no relevance for the purpose of determining the extent of benefit under section 32ab(1) or (2). the computation under the income-tax act is relevant after the ascertainment of the amount of the deposit and the 20 .....

Britannia Industries Ltd. Vs. Joint Cit and ors.

Court : Kolkata

Reported in : (2004)193CTR(Cal)26,[2004]271ITR128(Cal),[2005]143TAXMAN325(Cal)

..... assessment year. the question raised in this case relates to the eligibility of deduction under section 32ab of the income tax act, 1961. having regard to section 32ab as it stood then whether the income derived under the head income from business or profession only would be eligible for deduction under section 32ab(1)(ii) or this deduction would ..... to be computed and conceived according to the provision contemplated in sub-section (3). the eligibility is not dependent on the computation under the income tax act, but on sub-section (3). the eligibility to and eligibility of have been made distinct by reason of these provisions when read with sub-section ..... bank ltd. : [2002]255itr205(mad) had held that the computation of income under the provisions of the income tax act is of no relevance for the purpose of determining the extent of benefit under section 32ab(1) or (2). the computation under the income tax act is relevant after the ascertainment of the amount of the deposit and the 20 .....

Addl. Commissioner of Income-tax Vs. Visakha Flour Mills

Court : Andhra Pradesh

Reported in : [1977]108ITR465(AP)

..... on the facts and in the circumstances of the case, the assessment for both the periods was justified in view of the provisions of section 187(2) of the income-tax act, 1961 ?'31. the high court opined that there was only a change in the constitution of the firm within the meaning of section 187(2) and it does not ..... has submitted an agreed statement of the case and referred under section 256(1) of the income-tax act, 1961, the following question of law for the opinion of this court:'whether, on the facts and in the circumstances of the case, the incomes of the two broken periods for each of the two assessment years 1966-67 and 1967-68 ..... 187(2) applies, two separate assessments must be made and tax thereon has to be determined separately without clubbing the incomes for both the broken periods.7. the answer to the question turns upon the provisions of sections 187 and 188 of the income-tax act, 1961 (hereinafter referred to as 'the act') and their application to the facts of the present case .....

Commissioner of Income-tax Vs. Premier Cotton Spinning Mills Ltd.

Court : Kerala

Reported in : (1981)20CTR(Ker)357; [1981]128ITR694(Ker)

..... in holding that the sum of rs. 41,250, being 50% of the donation made by the assessee-company and deducted under section 80g of the income-tax act, 1961, is an item includible in the total income of the assessee and that the capital of the company is not to be decreased correspondingly for the purpose of rule 4 of the second schedule to ..... . these two references, involving a common question of law, have been made to this court by the income-tax appellate tribunal, cochin bench (hereinafter called 'the tribunal'), under section 256(1) of the i.t. act, 1961 (for short ' the act '), at the instance of the commissioner of income-tax, kerala. they arise out of assessments made against the same assessee, a limited company, for the years .....

All India Bank Officers Confederation Vs. The Regional Manager Central ...

Court : Supreme Court of India

..... page 1 of 17 their writ petitions, where the vires of section 17(2)(viii) of the income tax act, 19611 or rule 3(7)(i) of the income tax rules, 19622, or both, were challenged.2. section 17(2)(viii) of the act includes in the definition of perquisites 3, any other fringe benefit or amenity , as may be prescribed ..... of the actual interest rate charged by the bank from a customer on a loan.4. sections 15 to 17 of the act relate to income tax chargeable on salaries. section 15 stipulates incomes that are chargeable to income tax as salaries . section 16 prescribes deductions allowable under salaries . section 17 defines the expressions salary , perquisites and profits in ..... or advantage, having a monetary value, which a holder of an office derives from the employer s spending on his behalf.17. similarly, in additional commissioner of income tax v. bharat v. patel18, this court held that perquisite , in the common parlance relates to any perk or benefit attached to an employee or position besides .....

Ranbaxy Laboratories Ltd. Vs. Addl. Commissioner of Income Tax,

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)299ITR175(Delhi)

..... in the open market; or (ii) reasonably accurate adjustments can be made to eliminate the material effects of such differences. further "rule 10b(1)(e) of income tax act providing for determination of arm's length price under section 92c required that following steps are to be taken while applying tnmm after selection and evaluation of controlled ..... because another reasonable view was also possible, the assessment could not be treated as erroneous and prejudicial to invoke provisions of section 263 of the income tax act. vi) that ld. cit failed to appreciate that under the transfer pricing mechanism "tested party" out of two parties of a multinational involved in the transaction, the least complex ..... i. t. act 1961 for revision of order passed under section 143(3) of the i.t. act in your case for asstt. year 2004-05 reg. in your case, return of income was filed on 20.10.2004 declaring an income of rs. 330,64,05,014/-. assessment order under section 143(3) of the income tax act was passed .....

Madiraju Venkata Ramana Raju Vs. Peddireddigari Ramachandra Reddy and ...

Court : Supreme Court of India

..... officer-2014 under chapter 5.20.1. (iii) respondent no.1 failed to fill up the column no.4 and column no.2 under the head of total income shown in income tax returns, of the said affidavit (form no.26). (iv) the column no.6 of said two sets of affidavit has not been properly struck off, whichever ..... been articulated in paragraph 11 which reads thus: grounds ignored the 8th respondent has the a). whether constitutional spirit of representation of the people act (act 43 of 1950) and act 43 of 1951 with allied acts, rules, orders, model code of conduct for guidance of candidates supplied by the election commission for the election 284, punganur assembly constituency ..... by the appellant before the returning officer have been mentioned, including the violation of rule 35 of civil rules of practice and also rule 4a of election rule, 1961 and non-signing of each and every page at the bottom of the nomination form. the five objections taken before the returning officer have been reproduced as follows .....

Commissioner of Income-tax, Gujarat Vs. Gautam Sarabhai

Court : Gujarat

Reported in : [1981]129ITR133(Guj)

majmudar, j. 1. the income-tax appellate tribunal, ahmedabad bench 'b', has referred, at the instance of the revenue, the following two questions of law for our opinion under s. 256(1) of the i. t. act, 1961 : '1. whether the capital loss brought forward has to be set off against the capital gains if related to capital assets other than short-term capital assets ..... whatever source derived...' chapter iv of the act deals with the computation of total income and lays down various heads of income. it provides : 'save as otherwise provided by this act, all income shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income : a-salaries. b-interest on securities. c-income from house property. d-profits and gains .....