Judgment Search Results Home > Cases Phrase: income tax act 1961 chapter xiv procedure for assessment Court: mumbai Page 7 of about 391 results (0.328 seconds)

Godrej and Boyce Mfg. Co. Ltd. Vs. P.K. Gupta, Commissioner of Income ...

Court : Mumbai

Reported in : 2006(1)BomCR840; (2006)202CTR(Bom)308; [2006]284ITR85(Bom); 2005(4)MhLj659

..... submissions, mr. pardiwalla, referred to and relied upon the division bench judgment of our high court, with regard to the interpretation of section 214 of the income tax act in the case of commissioner of income tax v. saswad mali sugar factory ltd. : [2001]249itr756(bom) . in that case, the assessment year was 1980-1981 and the assessment was completed ..... pardiwalla has therefore contended that both the above judgments have very clearly laid down the law as far as section 214 as well as section 244(1a) of the income tax act are concerned. he therefore submitted that based on the said provisions of law, the petitioner is entitled to interest. mr. pardiwalla produced before us two charts showing ..... /-. the inspecting assistant commissioner determined a refund of rs. 1,19,78,111/-together with the interest at rs. 31,14,306/-under section 214 of the income tax act and the amount of rs. 4,80,000/- was also charged as an interest under section 216. the total amount of refund was computed at rs. 1 .....

Star Television News Limited Vs. Union of India (Uoi) Through the Secr ...

Court : Mumbai

Reported in : 2009(111)BomLR3617; (2009)225CTR(Bom)140; [2009]317ITR66(Bom); [2009]184TAXMAN400(Bom)

..... , j.1. the petitioner herein is a non-resident company. they filed an application before the income tax settlement commission on 5th march, 2007 under section 246-c of the income tax act, 1961 (hereinafter shall be referred to as the act) for settlement of the cases. by the present petition the petitioners seek to challenge the constitutional validity ..... and legality of the provisions of section 245ha(1)(iv) and section 245ha(3) of the income tax act as inserted by finance act, 2007 (hereinafter referred ..... of on or before 31st march, 2008 it would abate and consequently all the information is available to the a.o. and other authorities under the income tax act. in the instant petition we are not concerned with the issue of an application made to the settlement officer after 1st june, 2007.9. the .....

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)11TTJ(Mum.)502

..... that the assessee company stood converted into a private limited company as a going concern and hence there was no income chargeable to tax either under section 41(2) or under section 45 of the it act, 1961. in the agreement of sale, there was no reference to the value of the plant, machinery and dead stock ..... the asst. yr. 1945-46 when capital gains were not chargeable to tax.capital gains were subjected to the charge of income-tax for the first time in india by the income-tax and excess profits tax act (amendment) act, 1947, which inserted, inter alia, section 12b in the it act, 1922 from asst. yr. 1946-47. quite obviously, the provisions analogous ..... to sections 45, 50 and 50b of the present it act were non-existent in asst. yr. 1945-46 or even thereafter till their insertion in the it act of 1961. the .....

Deputy Commissioner of Income Tax Vs. Govind Rubber (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)89ITD457(Mum.)

..... has no application to the facts of the present case as this case also deals with the question whether the benefit under section 80hhc of the it act, 1961 can be claimed in the total income after deduction of unabsorbed loss and unabsorbed depreciation, this has nothing to do with the issue under consideration.15. in the case of g.t ..... deduction whereas section 115j is a charging section. as per section 80hhc, deductions are to be made out of the taxable income, if any, whereas as per section 115j income has to be determined for charging the tax. therefore, if deduction is not allowed under section 80hhc, it is not going to affect the computation under section 115j ..... book profits attributable to export-under section 80hhc. according to the ao, the deduction of book profits attributable to export under section 80hhc for the purpose of tax payable on book profit under section 115j is not allowable because the assessee has not been allowed any deduction under section 80hhc. the ao has not taken .....

Commissioner of Income Tax Vs. M/S.Sheth Developers (P) Ltd.

Court : Mumbai

..... circumstances of the case and in law the tribunal was justified in holding that deductions u/s.80ib (10) has to be allowed from the income computed as undisclosed income u/s. 69a of the income tax act,1961? 2) whether on the facts and circumstances of the case and in law the tribunal was justified in allowing the claim of deduction u/s ..... m.s. sanklecha, j. this appeal by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as the said act) challenges the order dated 12/10/2009 of the income tax appellate tribunal (hereinafter referred to as the said tribunal) relating to assessment for the block period 1/4/1995 to 21/2/2002. 2) the appellant has ..... .80ib(10) where no such claim is made by the assessee in the return of income for the block period? 3) the appeal is admitted on question (1) and (2 .....

Commissioner of Income Tax Vs. M/S.Sheth Developers (P) Ltd.

Court : Mumbai

..... circumstances of the case and in law the tribunal was justified in holding that deductions u/s.80ib (10) has to be allowed from the income computed as undisclosed income u/s. 69a of the income tax act,1961? 2) whether on the facts and circumstances of the case and in law the tribunal was justified in allowing the claim of deduction u/s ..... m.s. sanklecha, j. this appeal by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as the said act ) challenges the order dated 12/10/2009 of the income tax appellate tribunal (hereinafter referred to as the said tribunal) relating to assessment for the block period 1/4/1995 to 21/2/2002. 2) the appellant has ..... .80ib(10) where no such claim is made by the assessee in the return of income for the block period? 3) the appeal is admitted on question (1) and (2 .....

Universal Generics (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1989)31ITD369(Mum.)

..... that the tax can be charged under the income-tax act. the income-tax act is a permanent act, whereas the finance act is passed every year and its main purpose is to fix the rates to be charged under the income-tax act for that year. that should be the construction is also made clear by section 55 of the income-tax act, whereunder super-tax shall be ..... authority of law. keeping this constitutional provision in mind, we have to consider the scheme of 1961 act with a view to finding out whether the assessee would be entitled to refund of the entire tax paid by it (whether byway of advance tax, t.d.s., self-assessment, completion of assessment, etc., etc.) on the ground that ..... of the hon'ble courts was not drawn to the scheme and ambit of various sections of the 1961 act like self-assessment (section 140a), assessment for refund (section 141a) as well as the fact that the advance tax and the tax deducted at source, whereunder the authority of law passed by the parliament. he, therefore, urged .....

Jt. Commissioner of Income-tax, Vs. D.C. Polyster Pvt. Ltd., Sir

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)102ITD394(Mum.)

..... the assessment merely because of the change of opinion on the part of the assessing officer ignoring the fact that section 147 of the income tax act, 1961 had been amended by direct tax law (amendment) act, 1989 w.e.f 1.4.89 and the assessee's case falls under sub-clause (iv) of clause (c) below explanation ..... the book profit is higher and is adopted for the purposes of levying tax, the normal assessment as per income tax act, 1961 does not become non-entity or non-existent.since, the assessment of total income as per normal provisions of income tax act, 1961 very well stands, the escapement of income has to be seen therein only. since excess relief has been allowed ..... 03,115/-, but he has restricted the claim to 70% of rs. 73,43,219/- approximately so as to bring the income as computed under the provision of income tax act, 1961 to rs. 21,45,574/- equivalent to income computed under section 115j by taking 30% of book profit. this resulted in carry forward of investment allowance to rs. 36, .....

Nowroji Jehangir Gamadia and ors. Vs. Deputy Collector, Inami and Spec ...

Court : Mumbai

Reported in : AIR1986Bom373; 1987(3)BomCR119; 1986MhLJ582

..... (sc) , the supreme court was required to consider the meaning of the words 'any individual' and 'such individual' occuring in sections 16(3) and 16(3)(a) of the income-tax act, 1922. the court observed in para-14 of the judgment thus:'it is clear that unless there is any such ambiguity it would not be open to the court to ..... the said section. in his view, since the provision was in the nature of an exception and the act was a taxing statute, the said wording used by the legislature had to be strictly construed and cannot cover a case where merely income of the property was utilised by the trust for its objects. he also held that the phrase 'used ..... clause.'36. it may be noted that as far as section 83 of the madras act is concerned, it specifically provides that exemption from property tax can be claimed only in cases of properties from which no income is derived. same is the case with section 88(1) of andhra pradesh act. the proviso to section clearly shows that no exemption from property .....

All India Federation of Tax Practitioners and ors. and Indian Institut ...

Court : Mumbai

Reported in : (2001)168CTR(Bom)24; [2002]256ITR401(Bom)

..... 3 of the punjab urban immovable property tax act, 1940, measured by a percentage of the annual value of such buildings remained a tax on buildings under that act even though the measure of annual value of a building was also adopted as a standard for determining income from property under the income-tax act. it was pointed out that although ..... the same standard was adopted as a measure for the two levies, the levies remained separate and distinct imposts by virtue of their nature. in other words, the measure adopted could not be identified with the nature of the tax.' 16. ..... : [1980]3scr1 , the validity of the circumstances and property tax levied under section 119 of the u. p. kshetra samitis and zila parishads act was challenged before the supreme court. it was held that the tax on circumstances and property is not a tax on income but a tax on a man's financial position, his status as a whole, .....