Judgment Search Results Home > Cases Phrase: income tax act 1961 chapter xiv procedure for assessment Sorted by: old Court: mumbai Page 33 of about 391 results (0.127 seconds)

Travel Corporation (India) Private Limitd Vs. Asstt. Commissioner of I ...

Court : Mumbai

Reported in : (2007)109BOMLR1645; (2007)211CTR(Bom)552; [2007]293ITR577(Bom)

..... dated 6th march, 2006 whereby the completed assessments for a.y.2000-01 and a.y. 2001-02 are sought to be reopened under section 148 of the income tax act, 1961 (act for short).2. since the reasons recorded for reopening of the assessments are common, both these petitions are heard together and disposed off by this common judgment.3 ..... 3,28,49,221/-should have been taxed as deemed profit. therefore, i have reasons to believe that the income to the extent of rs. 3,28,49,221/- as escaped from assessment for the a.y.2000-01 within the meaning of provision of section 147 of the i.t. act, 1961.7. the assessee by its letter dated ..... and the petition is liable to be dismissed.13. we have carefully considered the rival submissions. under the income tax act, concluded assessments can be reopened only if the assessing officer has reason to believe that the income chargeable to tax has escaped assessment. the reasons for reopening the assessments must be genuine, reliable and not imaginary or based .....

Yashpal Sahni Vs. Rekha Hajarnavis, Assistant Commissioner of Income-t ...

Court : Mumbai

Reported in : (2007)109BOMLR1537; (2007)211CTR(Bom)1; [2007]293ITR539(Bom); 2007(4)MhLj208

..... treasury, whether, the revenue can recover the tds amount with interest from the concerned employee in spite of the express bar contained in section 205 of the income tax act, 1961?2. the relevant facts are that on 28th march, 1996 the respondent no. 6 company appointed the petitioner as 'managing director-information technology' with effect from ..... cannot be faulted. 14. we have carefully considered the rival submissions.15. chapter xvii of the income tax act, 1961 provides for collection and recovery of tax by two modes. they are (one) directly from the assessee and (two) indirectly by deduction of tax at source. in the present case, we are concerned with the second mode of recovery, ..... inter alia claiming credit of tds amounting to rs. 6,66,000/-.5. the return of income was processed and on 29th march, 2000 the assessing officer issued an intimation under section 143(1)(a) of the of the income tax act, 1961 ('the act' for short) denying credit of the tds amount of rs. 6,66,000/-and after .....

VIn Vish Corporation Pvt. Ltd. Vs. the Asst. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the assessee are as follows: 1. the learned cit(a) erred in rejecting the contention of your appellant that the block assessment ..... cross appeals are directed against the order of the cit(a)-vii at mumbai dated 13.3.2003 and arise out of the assessment completed under section 158 bc(c) r.w.s. 143(3) of the income-tax act 1961.2. the grounds raised in the appeal filed by ..... referred to a similar 16. the gauhati high court in the above case held that - clause (b) of section 158bc of the income-tax act, 196!, provides that the provisions of section 142 as well as sub-section (2) and (3) of section 143 shall apply even ..... assessee.4. shri j.d.mistri, the learned counsel appeared for the assessee and ms.shanta abrol, the learned commissioner of income-tax appeared for the revenue.5. the learned counsel appearing for the assessee, placed his arguments at first on the legal ground raised .....

A. Shenoy and Co. and ors. Vs. N.D. Kadam and ors.

Court : Mumbai

Reported in : [2008]297ITR419(Bom); 2007(6)MhLj211

..... . 1 launched prosecution against the applicants, on 28th february, 1990, before the addl. chief metropolitan magistrate alleging that the failure to deduct tax at source amounts to an offence under section 276b of the income tax act, 1961, as it stood prior to 1st april, 1989. the applicant nos. 2 and 3 and applicant no. 1 were also proceeded against ..... offence, in other words, it was not an offence at the time when the prosecution was launched. he submits that since the change in section 276b of the income tax act amounts to an omission, all actions under the omitted part should stop at the point when the omission takes place. mr. sathe relied upon the judgments of the ..... provisions:11. before considering the rival submissions, it is necessary to turn to the statutory provisions. the following are the relevant extracts of section 276b of the income tax act prior to 1st april, 1989 and after 1st april, 1989.section 276b (as on 1-10-1975 and upto 10-9-1986)if a person, without reasonable .....

Union of India (Uoi), Through Dy. Salt Commissioner, Vs. Mohammed Masu ...

Court : Mumbai

Reported in : 2007(6)BomCR156

..... to shri bhave and the award in that regard is at exhibit 126. it is further stated by the deponent that the claimants had been paying income tax for the income derived from the acquired land between the period from 1970-71 to 1983-84. he has further stated that the mutation entry no. 679 in ..... : 2007crilj289 , and kiran tandon v. allahabad development authority and anr. reported in : air2004sc2006 , tinsukla development corporation ltd. v. state of assam and anr. reported in air 1961 ass 133, balaram chandra v. state of u.p. reported in : air1995sc1552 , sudhansu sekhar maity and ors. v. state of west bengal and ors. reported in : air1972cal320 ..... . while esufali salebhai's case (supra) ruled that the government is not barred from acquiring and paying for the only outstanding interest merely because the said act, which primarily contemplates all interests as held outside government, directs that the entire compensation based upon the market value of the whole land, must be distributed among .....

Subhash R. Acharya Vs. State of Maharashtra, Through the Dairy Commiss ...

Court : Mumbai

Reported in : 2007(6)ALLMR683; 2007(6)BomCR100; (2007)109BOMLR1847

..... limitations. 'reasonableness' and 'rationality' or even 'proportionality' of decision making process can be examined within a very limited scope (refer r.m. arunachalam v. commissioner of income tax, madras : (2000)iillj648sc . 16. further, it is contended that the competent authority can select any person, not necessarily the senior most, keeping in view the ..... be made to the judgment of the supreme court in the case of r.p. kapur and ors. v. sardar pratap singh kairon and ors. : [1961]2scr143 , wherein the supreme court has held as under:before parting with this case we consider it necessary to make some observation with regard to a matter ..... process in exercise of statutory powers, public accountability and transparency are also applicable to the various proceedings under the law of acquisition. various provisions of the act could be referred to demonstrate that the exercise of powers emanating from statutory provisions is coupled with public obligation, to protect the rights of the land .....

Yezdi Hirji Malegam, a Chartered Accountant and a Partner of S.B. Bimm ...

Court : Mumbai

Reported in : (2007)109BOMLR1900; (2007)213CTR(Bom)161; [2008]299ITR329(Bom)

..... holding that the commissioner (appeals) cannot entertain an appeal with regard to the quantum/waiver of the interest levied under section 139(8) and 217(1a) of the income-tax act, 1961?2. the assessment years relevant herein are assessment years 1972-73 and 1976-77.3. the original assessee shri s.p. patel (hereinafter referred to as 'the assessee ..... the following questions of law for the opinion of this court under section 256(1) of the income tax act, 1961.1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that credit for the tax deducted at source from the dividends was to be given to the firm and not to the ..... the availability of credit of the tds to the firm/partners were contained in section 199 of the act and rule 30a of the income tax rules, 1961. the said provisions, to the extent relevant for the purpose herein, read thus:credit for tax deducted.199. any deduction made in accordance with the provisions of sections 192 to 194, section 194a .....

Deepak Fertilisers and Vs. Dy. Cit(A), Range 3(1)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)117TTJ(Mum.)752

..... of r.b. jodha mal kuthiala (supra), their lordships held as under: in our opinion, the term 'owned' as occurring in section 32(1) of the income-tax act, 1961, must be assigned a wider meaning. anyone in possession of property in his own title exercising such dominion over the property as would enable other being excluded therefrom and ..... on the ground that conveyance deed was not executed. after considering the submissions from both the sides, their lordships observed as under: section 32 of the income-tax act confers a benefit on the asses see. the provision should be so interpreted and the words used therein should be assigned such meaning as would enable the ..... right to use and occupy the premises. form 37 i were also filed and no objection certificates under section 269 ul(3) of the i.t. act, 1961 were obtained from the income tax appropriate authority.further vide, letter dated 19^th january, 2000, it was reiterated that on the basis of purchase of shares, the assessee company became .....

First Global Stockbroking (P) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)115TTJ(Mum.)173

..... order. it would not be out of place to mention here that the rigorous and strictness of marshaling the evidences as per the evidence act, 1872 are not applicable to income-tax proceedings as discussed in detail under para 14 of the appellate order. it is further seen that such documents have neither been explained during assessment ..... b.a./2003-04/45 dt. 12th june, 2003 in terms of the provisions under section 158bg of the it act, 1961.4. dissatisfied with the additions assessee carried the matter in appeal before learned cit(a). the learned cit(a) again reappreciated the facts and circumstances in detail and deleted the addition of rs. 3,11,31,47 ..... profit of first global stock broking was transferred to the latter. subsequently, on finding incriminating documents, the survey was converted into search under section 132(1) of it act, 1961 on 2nd may, 2001. the documentary evidences found at the office premises of m/s shree bajrang ispat & plywood ltd. establish the fact that they had received .....

Videocon International and ors. Vs. Securities and Exchange Board of I ...

Court : Mumbai

Reported in : (2008)110BOMLR215; 2008BusLR269(Bom); [2009]151CompCas548(Bom); [2008]82SCL460(Bom)

..... support of the prospectivity in operation of the sebi (amendment) act. in the case of commissioner of income tax v. dhadi sahu air 1993 scw 3578 the income tax officer had initiated proceedings for the imposition of penalty under section 27(1)(c) of the income tax act, 1961 and the matter was referred to the inspecting assistant commissioner under section ..... 274(2) of the said act which on the date of reference read as under:notwithstanding anything contained in clause (iii) of sub-section (1) of ..... /1971 by the taxation laws (amendment) act, 1970 and it read as under:notwithstanding anything contained in clause (iii) of sub-section (1) of section 271, if in a case falling under clause (c) of that sub-section, the amount of income (as determined by the income-tax officer on assessment) in respect of which .....