Judgment Search Results Home > Cases Phrase: income tax act 1961 section 145a method of accounting in certain cases Page 4 of about 40 results (0.276 seconds)

Union of India and anr. Vs. Azadi Bachao Andolan and anr.

Court : Supreme Court of India

Reported in : [2003]263ITR706(SC); [2003]132TAXMAN373(SC)

..... carrying on no business there; they are, in fact, prevented from earning any income there; they are not liable to income tax on capital gains under the mauritius income tax act. they are liable to pay income-tax under indian income tax act, 1961, since they do not pay any income-tax on capital gains in mauritius, hence, they are not entitled to the benefit ..... entities are really resident by investigating the center of their management and thereafter to apply the provisions of income tax act, 1961 to the global income earned by them by reason of sections 4 and 5 of the income tax act, 1961.76. it is urged by the learned attorney general and shri salve for the appellants that the phrase ..... law. in the situation where the terms of the dtac have been made applicable by reason of section 90 of the income tax act, 1961, even if they derogate from the provisions of the income tax act, it is not possible to say that this principle of lifting the veil of incorporation should be applied by the court. .....

Shiva Kant Jha Vs. Union of India (Uoi) and ors.

Court : Delhi

Reported in : [2009]185TAXMAN424(Delhi)

..... was a reproduction of section 49a of the 1922 act. the finance act, 1972 (act 16 of 1972) modified section 90 and brought it into force with effect from 1-4-1972. the object and ..... the granting of relief in respect of income on which, both income tax (including supertax) under the act and income tax in that country, under the income tax act and the corresponding law in force in that country, had been paid. the central government could make such provisions as necessary for implementing the agreement by notification in the official gazette. when the income tax act, 1961 was introduced, section 90 contained therein initially .....

The Southern India Tea Estates Co. Ltd., Alleppey Vs. the Commissioner ...

Court : Kerala

Reported in : AIR1965Ker146; [1964]51ITR47(Ker)

..... admissible allowance under sections 10 (1) and 10 (2) (xv) of the indian income-tax act, 1922, came up for consideration before the high court of madras in tax case nos. 91, 92, 99, 102, 110 and 111 of 1961.that court said:'it is true that a capital asset of a trading company is an ..... tax and business-profits-tax in the computation of the 'total income' for the purposes of the income-tax act. a similar provision is lacking in this act, in consequence, no deduction is permissible in respect of wealth tax paid, in calculating 'total income' for the purpose of the income-tax act.' (the three new taxes, page 10).4. section 10 (1) of the indian income-tax act, 1922, provides that the tax ..... of its business for the assessment year 1960-61 under section 10 (2) (xv) of the indian income-tax act'?2. the liability to pay wealth tax arises from the wealth tax act, 1957. the substantive provisions of that act are sections 3 to 7. of these, section 3 is the charging section, it follows closely the language .....

P.V. Thyagaraj and anr. Vs. Tax Recovery Officer and anr.

Court : Chennai

Reported in : [1987]165ITR412(Mad)

..... be proceeded against. another contention put forward by the petitioners is that the recovery proceedings themselves are time-barrier under section 231 of the income-tax act, 1961. 2. the first respondent, the tax recovery officer, has filed a counter-affidavit to the effect that the gift deed having come into existence after the proclamation has been issued regarding ..... been assessed in the years 1947-48 to 1950-51 and 1963-64 and 1964-65. in view of the non-payment of the tax, certificates under section 46(2) of the indian income-tax act, 1922, were issued as early as march 26, 1958, and may 19, 1959. based on the said certificates, recovery proceedings had ..... have got an alternative remedy provided by the status. we are, therefore, of the view that the petitioners should go before the tax recovery officer under rule 11 of schedule ii of the income-tax act to challenge the impugned order said to have been passed by the first respondent. therefore, without going into the merits of the rival .....

P.R. Mukherjee Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1979]116ITR554(Cal)

..... in the facts and circumstances of the case the learned aac of income-tax was not justified in holding that the entire income of shyamasree cinema which is owned by the appellant's wife is to be included in the assessment of the appellant under section 64(iii) of the i.t. act, 1961, 2. that the learned aac should have held on appreciation ..... under section 64(iii) of the i.t. act, 1961. 18. in a recent decision, however, this court in the case of k.d. ghosh v. cit : [1978]111itr502(cal) has considered this question. there, theassessee who was assessed as an individual filed his return for the assessment year 1966-67 showing an income of rs. 6,071. the ito determined the ..... mammon k. cherian v. cit : [1976]102itr553(ker) , on a plot of 20 cents of land belonging to the wife a house was built, inter alia, at the cost of the husband. the tribunal included the entire income from the house in the hands of the husband under section 64(1)(iii) of the i.t. act, 1961. it was held that contribution .....

Arun Kumar Sogani and ors. Vs. State of Rajasthan

Court : Rajasthan

Reported in : [1990]181ITR54(Raj)

..... j.1. complaints under sections 276b and 278b of the income-tax act, 1961, have been filed against the accused petitioners who are partners of the firm, universal supply corporation. eight complaints have been lodged because, according to the contention of the department, the petitioners failed to deposit tax which was deducted by them while paying interest to eight ..... department but it has been subsequently deposited within four months along with in unrest at 15% per annum as is provided under section 201(1a) of the income-tax act. the total interest deposited is rs. 6,686. it is, in these circumstances, that these applications for grant of anticipatory bail moved by the petitioners are ..... of any sum of money now. so far, notice for imposing penalty as provided in section 221 of the income-tax act has also not been issued. according to learned counsel for the petitioners, the tax along with interest was deposited soon after the mistake came to their notice.3. at present, the only matter .....

Commissioner of Income-tax, Madras Vs. S.S. Sivan Pillai and ors.

Court : Supreme Court of India

Reported in : AIR1970SC1667; [1970]77ITR354(SC); [1971]1SCR434

..... . under the scheme of section 15-c the profits or gains of an industrial undertaking must be determined under and in the manner provided by section 10 of the income-tax act. for that purpose all the allowances under sub-section (2) must be taken into account, and the resultant amount forms a component of the taxable profit. if ..... section (1) of section 15-c are not business profits : they are taxable profits computed in accordance with the provisions of section 10 of the income-tax act. under section 15-c(1) no tax is payable by the industrial undertaking on its taxable profits equal to six per cent per annum of the capital employed. sub-section (4) of ..... profits, for the depreciation for the current and the previous years amounted to rs. 2,83,343 which was an admissible allowance in the computation of income under section 10 of the income-tax act. since full effect could not be given to the allowance, the company was entitled to add to the depreciation for the following year the unabsorbed .....

Corborandum Univeral Ltd. Vs. Union of India (Uoi), by the Secretary, ...

Court : Chennai

Reported in : (1966)2MLJ129

..... central government is satisfied that the petitioners are engaged in the manufacture of one or more of the articles specified in part a of the fifth schedule to the income-tax act, 1961. the petitioners are a public limited company incorporated in 1954 and are said to be engaged during the relevant time in the manufacture of grinding wheels and abrasives, ..... , but to the central board of revenue as it figured then. section 99(1)(iv) of the income-tax act, 1961, reads;(1) super-tax shall not be payable by an assessee in respect of the following amounts which are included in his total income...(iv) if the assessee is a company, any dividend received by it, from an indian company, subject ..... revenue had considered the matter, but it regretted that the request regarding exemption contemplated under the fifth schedule read with section 99(i)(iv) of the income-tax act, 1961 could not be acceded to. there was a further communication on 14th may, 1964 from the secretary to the central board of direct .....

Commissioner of Income-tax, New Delhi Vs. Eli Lilly and Company (India ...

Court : Supreme Court of India

Reported in : 2009BusLR418(SC); (2009)223CTR(SC)20; [2009]312ITR225(SC); JT2009(5)SC78; 2009(4)SCALE384; [2009]178TAXMAN505(SC); 2009(4)LC1742(SC); 2009AIRSCW3104

..... combination of a machinery provision which also provides for chargeability.27. lastly, on the question of extra-territorial operation of the income- tax act, 1961, it may be noted that the 1961 act has extra-territorial operation in respect of the subject-matters and the subjects which is permissible under article 245 of the ..... , shri kannan kapoor, and shri salil kapoor, learned counsel appearing for various other assessees have adopted the arguments mentioned hereinabove.iii. relevant provisions of the income-tax act, 1961:section 2 - definitions.2.(37a) 'rate or rates in force' or 'rates in force', in relation to an assessment year or financial year, ..... assessability in the hands of the employee-assessee (recipient)? in other words, whether tds provisions under the income-tax act, 1961 are applicable to payments made abroad by the foreign company, which payments are for income chargeable under the head 'salaries' and which are made to expatriates who had rendered services in india? .....

Kwality Ice Creams (India) Ltd. Vs. Securities and Exchange Board of

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... being relevant, text of the same is extracted below: "in exercise of the powers conferred by sub-section (1) of section 54eb of the income tax act, 1961 (43 of 1961) the central board of direct taxes hereby specifies the following assets, referred to as the long term specified assets, for the purposes of the said section, namely; 1. deposits ..... be redeemed or switched to another scheme, during the lock in period of 7 years. this is subject to any change that may be affected in the income tax act, 1961.38. after the prescribed lock in period has elapsed unit holders may redeem their units at the applicable nav based prices consistent with the redemption procedure stated ..... " in para 6 that " the scheme offers an automatic withdrawal plan (awp). investors who have made investments in the scheme under section 54ea or 54eb of the income tax act, 1961, should note that the awp will not be available to them during the stipulated lock-in period".32. under para 6.9.1 "switching option - inter scheme" .....