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Novopan India Ltd Vs. the Commissioner of Income Tax, A.P. Hyd

Court : Andhra Pradesh

..... order : ( per sri msr, j ) this reference has been made by the income tax appellate tribunal, hyderabad-a bench, hyderabad under section 256 (1) of the income tax act, 1961 ( for short "the act") for the opinion of this court on the following question of law arising out of its order dated 13.10.1995 in ita no. ..... the case, the hon'ble income tax appellate tribunal, hyderabad is correct in holding that the daily allowance paid to the employees would partake the character of hotel expenses for the purpose of disallowance under section 37(3- a) to (3d)?". ..... the purpose of the business and is incidental to the business; that it has a direct and intimate connection with the business and therefore should be disallowed under section 37(3a) to (3d) of the act is concerned, we hold that the said issue is not the subject matter of the reference to this court, and as such, we decline to express any opinion on it. ..... of aircraft and motor cars; or (iii) payments made to hotels explanation - for the purpose of sub-sections (3a) and (3b), - (a) the expenditure specified in clause (i) to clause (iii) of sub-section (3b) shall be the aggregate amount of expenditure incurred by the assessee as reduced by so much of such expenditure as is not allowed under any other provision of this act; (b) expenditure on advertisement, publicity and sales promotion shall not include remuneration paid to employees of the assessee engaged ..... 125.2 sub sections (3a) to (3d) of section 37 were omitted by the finance act .....

Tarajan Tea Co. (P.) Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

..... of an order made under sections 125 and 125a of the act (3) whether, on the facts and in the circumstances of the case, the order passed by the commissioner of income-tax under section 63, reversing the direction issued under section 144b of the act was not without jurisdiction and if so, whether the fresh assessment made by the inspecting assistant commissioner (assessment) was also not without jurisdiction (4) whether, on the facts and in the circumstances of the case, the tribunal acted in law in omitting to record findings ..... , the following questions have been referred by the income-tax appellate tribunal, guwahati, under section 256(1) of the income-tax act, 1961 (for short, 'the act'), for the opinion of this court : ' (1) whether under the facts and in the circumstances of the case, the tribunal acted in law in holding that the directions issued under section 144b(4) of the act were non est on setting aside of the order ofassessment by the commissioner of income-tax under section 263 of the act (2) whether under the facts and in the .....

In Re: Cetex Petrochemicals Ltd.

Court : Chennai

Reported in : [1992]73CompCas298(Mad)

..... raghavan contended that the company has been advised that the benefits under section 80cc of the income-tax act, 1961, available to the original allottees of shares in the company will not be lost by reason of its amalgamation with kec international ..... under this section, shares obtained by an assessee cannot be sold or otherwise transferred to any person at any time within a period of three years from the date of acquisition and if they are sold or transferred, the shareholders would be subjected to tax accordingly and that the proposed amalgamation would result in a 'transfer' and contrary to the statutory provisions of section 80cc of the income-tax act; (h) almost all the shareholders vehemently opposed the amalgamation at the meeting held on march 18, 1991, at rani ..... and diversification are normally done only after a company has stabilised its operation; (g) a public issue was made stating that the prospective shareholders would get the benefit under section 80cc of the income-tax act. ..... appeal by the assessee before the income-tax appellate tribunal, the appellate tribunal held that the transaction represented neither an exchange nor a relinquishment and, therefore, section 12b of the act was not attracted. ..... the commissioner of income-tax issued a notice under section 33b of the act to the assessee stating that the receipt of 45 shares of the new shorrock ..... omitted to consider the applicability or otherwise of section 12b of the indian income-tax act, ..... 125 each of the transferee- .....

Commissioner of Income-tax, Bombay Vs. Rasiklal Maneklal (Huf)

Court : Supreme Court of India

Reported in : (1989)77CTR(SC)31; [1989]177ITR198a(SC)

..... omitted to consider the applicability of section 12b of the indian income tax act, 1922 ..... on 21 january, 1964 the commissioner of income-tax issued a notice under section 33b of the act to the assessee stating that the receipt of 45 shares of the new shorrock ..... appeal by the assessee before the income tax appellate tribunal, the appellate tribunal held that the transaction represented neither an exchange nor a relinquishment and, therefore, section 12b of the act was not attracted.5. ..... of the assessee and against the revenue.the relevant portion of section 12b of the act provides :section 12b(1)-capital gains-the tax shall be payable by an assessee under the head 'capital gains' in respect of any profits or gains arising from the sale, exchange, relinquishment or transfer of a capital asset effected after the 31st day of march, 1956, and such profits and gains shall be deemed to be income of the previous year in which the sale, exchange, relinquishment or ..... december 1960 had resulted in an assessable profit, and this aspect had been overlooked by the income tax officer when making the regular assessment, and, therefore, he proposed a revision of the assessment. ..... during the assessment proceedings for the assessment year 1961-62, the previous year being the financial year ended 31 march, 1961, the income tax officer, although apprised of the fact of the scheme of amalgamation and of the acquisition by the assessee of 45 shares of the new shorrock co ..... 125/- each of the transferee .....

Commissioner of Income-tax Vs. South India Viscose Ltd.

Court : Chennai

Reported in : [1987]163ITR674(Mad)

..... is seen that the tribunal has held that the reimbursement of medical expenses incurred by the assessee would not form part of 'perquisites' for the purpose of disallowance under section 40(c) of the income-tax act, 1961, following its earlier order. ..... correct in law in holding that the value of machinery not put to use during the relevant accounting years should not be excluded from the 'capital base' for the purposes of computing relief under section 80j of the income-tax act, 1961 5. ..... the facts and in the circumstances of the case, the appellate tribunal's view that the reimbursement of medical expenses incurred by the assessee would not form part of 'perquisites' for the purpose of disallowance under section 40(c) of the income-tax act is sustainable in law 4. ..... significant to note that section 40(c)(iii) itself has been omitted by the finance act of 1968 and section 40(a)(v) took its place which was in its turn replaced by section 40a(5), w.e.f. ..... [1980] 125 itr 150 clearly indicates that it was based on the language used in section 40(c)(iii) which used the expression 'whether convertible into money ..... ] 125 itr 150 which dealt with the provision in section 40(c)(iii ..... 125 itr 150, the question will arise whether the said decision of this court is applicable for the interpretation of section 40(c)(i) ..... [1980] 125 itr 150 will be applicable to the interpretation of the provision in section 40(c)(i) and also to the provision in section 40a(5) and dispose of that issue in accordance with .....

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

Court : Delhi

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

..... although by inserting an explanationn in section 9(ii) of the income tax act, 1961, with effect from 1st april, 1979 by the finance act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services rendered in india, shall be regarded as income earned in india, yet all kinds of payments arising under a contract of employment are not liable to tax in india. ..... 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 ..... are the appeals preferred by the assessees 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. ..... employees in japan (in addition to the salaries paid in india) which is admittedly paid for the work done by them for anpara-b project and the liaison office in india are taxable under the indian income tax act, 1961(2) if the amount of salaries so paid are taxable under the indian income tax act, whether the provisions of chapter xvii-b (s. ..... fact that no evidence of such legal opinion has been filed and the legal position was clear right from 1983 when finance act, 1983, added explanationn to section 9(1)(ii), subsequent events and acts of the appellant in this regard throw light on the intention of the appellant in respect of the acts done or omitted to be done earlier.5.20. .....

Commissioner of Income-tax Vs. I. Chatterji

Court : Mumbai

Reported in : (1986)50CTR(Bom)129; [1986]161ITR535(Bom); [1986]24TAXMAN251(Bom)

..... at the instance of the revenue, this reference is made under section 256(1) of the income-tax act, 1961, to pose the question :'whether the tribunal was right in holding that the deduction for municipal taxes was allowable under section 23(1) of the income-tax act, 1961, while determining the annual value in the case of self-occupied property ?'2. ..... high court in the aforementioned case of arvind narottam lalbhai dalpatbhai vada : [1976]105itr378(guj) , observed that the words which required interpretation, having regard to the argument before it (which is the argument before us) in sub-section (2) of section 23 of the income-tax act, 1961, were : 'the annual value shall first be determined as in sub-section (1) 'and' and further be reduced by one-half of the amount'. ..... dalvi, learned counsel for the assessee, that, on a construction of section 23 of the income-tax act, 1961, the assessee was entitled to deduct the municipal taxes that he had paid for the purposes of determining the annual letting value of his self-occupied house property. ..... in our view, the words 'and further be reduced' in sub-section (2) of section 23 of the income-tax act, 1961, do not lead to the conclusion that there has already been a reduction in the annual letting value by the application of the provisions contained in sub-section (1). .....

C. Rajendran and anr. Vs. Income-tax Officer

Court : Chennai

Reported in : (2002)173CTR(Mad)171; [2002]253ITR139(Mad)

..... came to be served to the directors of the company, the petitioners in the writ petition, under section 179(1) of the income-tax act, 1961. ..... directed to show cause as to why they could not be held jointly and severally liable for the payment of the tax arrears and this notice seems to have been answered by one chandrasekara mudaliar, managing director of the company, who pointed out that a waiver petition was pending in respect of the interest under section 139(8) of the income-tax act as the arrears for the assessment year 1974-75 were only on account of the interest liability. ..... essentially that in spite of the efforts made as per the procedure followed in the income-tax act for recovery of the tax arrears when the said tax arrears cannot be recovered then alone the liability can be transferred under section 179(1) of the income-tax act to the directors. ..... out that the only effort which has been made for recovery of tax arrears is by way of a show-cause notice under sections 221 and 222 of the income-tax act which would be apparent from the contents of paragraph 4 of the order passed by the income-tax officer. ..... was, therefore, prayed that the proposed action under section 179 of the income-tax act should be stayed during the pendency of the appeal ..... therefore, better to remand the matter to the concerned authority who would consider all the aspects and then come to the conclusion regarding the proceeding under section 179(1) of the income-tax act and the resultant action thereof. .....

C. Rajendran and Another Vs. Ito

Court : Chennai

Reported in : [2001]253ITR139(Mad)

..... notice came to be served to the directors of the company, the petitioners in the writ petition, under section 179(1) of the income tax act, 1961. ..... were directed to show cause as to why they could not be held jointly and severally liable for the payment of the tax arrears and this notice seems to have been answered by one chandrasekara mudaliar, managing director of the company, who pointed out that a waiver petition was pending in respect of the interest under section 139(8) of the income tax act as the arrears for the assessment year 1974-75 were only on account of the interest liability. ..... was the managing director while rajendran and surendran were the directors of the company during the relevant years and that they would be jointly and severally liable for the above mentioned tax arrears and the interest in terms of section 179(1) of the income tax act.this was objected to by filing a writ petition before the learned single judge. ..... suggests essentially that in spite of the efforts made as per the procedure followed in the income tax act for recovery of the tax arrears when the said tax arrears cannot be recovered then alone the liability can be transferred under section 179(1) of the income tax act to the directors. ..... points out that the only effort which has been made for recovery of tax arrears is by way of a show-cause notice under sections 221 and 222 of the income tax act which would be apparent from the contents of paragraph 4 of the order passed by the income tax officer. .....

National Federation of Insurance Field Workers of India and anr. Vs. U ...

Court : Uttaranchal

Reported in : (2004)187CTR(Uttranchal)180; [2004]265ITR84(Uttaranchal)

..... the impugned notification is issued in purported exercise of power conferred on the central board of direct taxes by section 295 of the income-tax act, 1961, read with section 17(2) and section 192(2c) of the income-tax act ; that by virtue of the impugned notification, the central board of direct taxes has purported to supplement section 17(2) of the income-tax act by incorporating amendments in the existing income-tax rules. ..... required to be placed before parliament as mentioned in section 295 read with section 296 of the income-tax act and since the impugned rule has not been placed before parliament for approval, the impugned rule violates section 295 read with section 296 of the income-tax act, and, therefore, the impugned rule is bad in ..... the department, averment is made to the effect that the impugned notification amending rule 3 of the income-tax rules was placed before parliament under section 296 of the income-tax act on december 7, 2001, in the lok sabha and on december 18, 2001, in the rajya sabha ..... rules are required to be framed by the central board of direct taxes under section 295(1) of the income-tax act in this connection, it was submitted that under section 291(2)(c), the central board of direct taxes was required to make rules, which were proper and reasonable. ..... point is mentioned only to show that the function of the central board of direct taxes under section 295(1) of the income-tax act is not only to frame rules evaluating the benefit or amenity, but also to .....