Judgment Search Results Home > Cases Phrase: income tax act 1961 chapter viii rebates and reliefs Court: kerala Page 1 of about 22 results (0.086 seconds)

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 .....

State Bank of India Vs. Central Board of Direct Taxes

Court : Kerala

Reported in : (2006)201CTR(Ker)492; [2006]282ITR587(Ker); 2006(1)KLT258

..... who has taken retirement under the voluntary retirement scheme is entitled to get relief under section 89(1) read with section 17(3)(i) of the income tax act. senior counsel appearing for the revenue submitted that relief under the above mentioned provision would be available only with regard to the compensation received by an employee ..... over several years, does not mean that the relief is not in respect of a particular assessment year.the tribunal has rightly pointed out that in the income-tax act, there are several provisions granting twin or double benefits, while in other provisions, twin or double benefit has been specifically prohibited. there is no prohibition to ..... such other deductions under chapter vi a to chapter x. employees who took voluntary retirement therefore were found entitled to relief under section 89(1) of the income-tax act in respect of payment under the provisions of clause (3) of section 17.3. employees later filed their return for the assessment year 2001-2002 to .....

Kerala Electricity Officers Federation and ors. Vs. Central Board of D ...

Court : Kerala

Reported in : (2005)198CTR(Ker)625; [2005]279ITR482(Ker)

..... is necessary to refer to some of the relevant provisions under the it act which have a bearing on the question. chapter viii of the it act deals with rebates and reliefs. sec. 87 of the it act states that in computing the amount of income-tax on the total income of an assessee with which he is chargeable for any assessment year ..... , there shall be allowed from the amount of income-tax (as computed before allowing the deductions under ..... they seek to quash ext. p2 communication issued by the 4th respondent-cit, cochin, to the extent it relates to the computation of income-tax under section 89 and for a declaration that they are entitled to claim relief under section 89 of the it act apportioning the arrears of salary compulsorily credited to gpf account to various .....

Kochurani Thomas Vs. The State of Kerala, represented by its Secretary ...

Court : Kerala

..... ) of the same act? 35. a learned division bench of this court has held that section 89 (1) is a beneficial provision which has been ..... supra), the issue is whether the voluntary retirement from service would fall under the term "termination of employment" within the meaning of section 17(3) of the income tax act. the other issue is whether the relief under section 89(1) is admissible after the grant of exemption under section 10(10c)(viii) of the ..... income tax act. in other words, whether an employee who received compensation under the voluntary retirement scheme from his employer is entitled to get relief under section 89 (1) read with section 17 (3) (1) of the income tax act, over and above the exemption provided under section 10 (10c) (viii .....

Cit Vs. K.C. John

Court : Kerala

Reported in : [2003]132TAXMAN793(Ker)

..... the circumstances of the case, and also in the light of the provisions of section 115e, the assessee is eligible for the rebate under section 88 of the income tax act, 1961?2. whether on the facts and in the circumstances of the case, the tribunal is correct in holding that the computation of the ..... respondent-assessee admittedly is a non-resident indian and his only income which is assessed to tax under the act is the income from investment in foreign exchange. section 4 of the act is the charging section under which income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year ..... cent of the amount by which such aggregate exceeds rs. 12,000.'section 87 of the act introduced with effect from 1-4-1991 reads as follows :'87. rebate to be allowed in computing income-tax.(1) in computing the amount of income-tax on the total income of an assessee with which he is chargeable for any assessment year, there shall be .....

Commissioner of Income Tax Vs. K.C. John

Court : Kerala

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

..... -assessee admittedly is a non-resident indian and his only income which is assessed to tax under the act is the income from investment in foreign exchange. section 4 of the act is the charging section under which income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that ..... section 256(1) of the it act at the instance of the cit, kochi for decision by this court :'1. whether, on the facts and in the circumstances of the case, and also in the light of the provisions of section 115e, the assessee is eligible for the rebate under section 88 of the it act, 1961?2. whether, on the facts ..... and in the circumstances of the case, the tribunal is correct in holding that the computation of the tax liability denying the rebate under section 88 was by way of a prima facie adjustment, which .....

Commissioner of Income-tax Vs. Kerala State Co-operative Marketing Fed ...

Court : Kerala

Reported in : [1994]207ITR319(Ker)

..... reference, we are concerned with the assessment year 1980-81. during the assessment proceedings, the assessee claimed exemption under section 80p(2)(a)(iii) of the income-tax act, 1961, in respect of the profit earned by the assessee-society out of the purchases it made from member-societies. the total purchases were to the extent of ..... to our notice, assam co-op. apex marketing society ltd. v. addl. cit : [1993]201itr538(sc) , the court was concerned with section 81(i)(c) of the income-tax act, as it stood then, which is to the following effect :'81. income of co-operative societies.--income-tax shall not be payable by a co-operative society-- (i) in respect of ..... down in the existing section 81 of the income-tax act for the purpose of rebate of tax on such incomes.'11. in the recent decision of the supreme court in assam co-operative apex marketing society ltd. v. cit : [1993]201itr338(sc) , at page 342, construing section 81(i)(c) of the income-tax act, which is similar to section 80p(2)(a .....

The Commissioner of Income Tax, CochIn Vs. Abad Fisheries

Court : Kerala

c.n. ramachandran nair, j. 1. these are appeals filed by the revenue challenging the orders of the income tax appellate tribunal declaring the re-assessments completed on the respondent-assessee under section 147 of the income tax act (hereinafter called the act) for the assessment years 1999-2000, 2000-2001, 2002-2003 and 2003-2004 as invalid. we have heard senior counsel sri. p.k.r ..... that without making regular assessment under section 143(3), re-assessment cannot be made under section 147 of the act. the cit(appeals) who heard the appeals for the first two years, following the judgment of the honourable supreme court in commissioner of income tax v. rajesh jhaveri stock brokers pvt. ltd. reported in 291 itr 500 upheld the re-assessments and dismissed the .....

Equity Intelligence India Pvt. Ltd. Vs. The Assistant Commissioner of ...

Court : Kerala

..... , dated june 15, 2007 sub: distinction between shares held as stock- in-trade and shares held as investment-tests for such a distinction. ita.267/14 & con. cases 29 the income-tax act, 1961 makes a distinction between a capital asset and a trading asset.2. capital asset is defined in section 2(14) of the ..... company engaged in portfolio management services having obtained necessary registration from the sebi. the return of income for the assessment year 2008-09 was filed and assessment under section 143(3) of the income tax act was completed, treating the transactions in purchase and sale of shares as 'business income' instead of capital gains as shown by the assessee company. in so far as the .....

Commissioner of Income-tax Vs. Kalpaka Enterprises (P.) Ltd.

Court : Kerala

Reported in : (1986)51CTR(Ker)160; [1986]157ITR658(Ker)

..... was computed to be carried forward, under three heads :rs.(i)unabsorbed depreciation21,815(ii)unabsorbed development rebate17,186(iii)business loss22,7534. the income-tax officer, relying on section 79 of the income-tax act, refused the relief of carry forward of any of these 'losses'. on appeal, the appellate assistant commissioner held that development rebate and unabsorbed ..... punjab high court.16. the supreme court was construing section 10 (2)(vi) and proviso (b) to section 24(2) of the 1922 act (corresponding to sections 34(2)(i) and 72 of the 1961 act) in cit v. jaipuria china clay mines (p.) ltd. : [1966]59itr555(sc) , wherein it was observed thus (at pp. 559, 561):'the ..... second consideration which is relevant is that the act draws no express distinction between the various allowances mentioned in section 10(2). they all .....