Court : Andhra Pradesh
Reported in : 1994(2)ALT240; [1993]202ITR145(AP)
..... the assessee was to be given the right to claim interest under section 214 of the income-tax act, 1961. section 214 of the income-tax act has to be read along with section 218 of the act. under section 218 of the income-tax act, if the instalment of advance tax was not paid by the specified date, the assessee shall be deemed to be an ..... parvatha rao, j. 1. the sole question in this referred case referred for the decision of this court under sub-section (1) of section 256 of the income-tax act, 1961 (hereinafter referred to as 'the act'), at the instance of the assessee, i.e., messrs. bakelite hylam ltd., hyderabad, is : 'whether, on the facts and in the circumstances of the ..... holding that the assessee was not entitled to interest under section 214 of the income-tax act, 1961, on rs. 4,29,219 which was the excess amount of tax paid in the financial year 1971-72 (relevant to the assessment year 1972-73) over the tax determined on regular assessment for the assessment year 1972-73 ?' 2. it is .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1991)98CTR(AP)49; [1991]190ITR266(AP)
..... to the assessee. that is how this reference has come up before us. 2. section 154 of the income-tax act, 1961, corresponding to section 35 of the indian income-tax act, 1922, empowers the income-tax authority to amend any order passed by it under the provisions of the act or to amend any intimation sent under sub-section (1) of section 143 or to enhance or reduce the ..... , ito v. volkart brothers : [1971]82itr50(sc) , the supreme court observed (p. 53) : 'it was not open to the income-tax officer to go into the true scope of the relevant provisions of the act in a proceeding under section 154 of the income-tax act, 1961. a mistake apparent on the record must be an obvious and patent mistake and not something which can be established .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1997]226ITR873(AP)
..... explanation thereto 2. whether, the income-tax appellate tribunal was correct in law in holding that reading together the provisions of sub-section (1 ..... assessee's contention regarding the mode of calculation of penalty payable : '1. whether the income-tax appellate tribunal was correct in law in holding that in view of the non-obstante clause found in section 271(2) of the income-tax act, 1961, the term 'assessed tax' occurring in section 271(1)(i)(b) has to be construed de hors the ..... section 271(1) in the manner provided under section 271(1)(i)(b) of the income-tax act, 1961 ?' 2. the respondent is a registered firm and penalty was levied under section 271(1)(a) for the delay in filing the return of income. on a consideration of the additional ground raised by the assessee, the tribunal held that .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1988)72CTR(AP)16; [1988]172ITR425(AP)
..... on the facts and in the circumstances of the case, the capital gains derived on the sale of the assessee's residential house is exempt under section 54 of the income-tax act, 1961 ?' 2. the relevant facts are that the assessee is a hindu undivided family. it owned a house at nellore which was an ancestral property, which it sold for ..... exempted from the capital gains tax under section 54 of the income-tax act. this plea was rejected by the income-tax officer and the appellate assistant commissioner on the ground that the purchase of the property was made beyond one year. it was pointed out ..... for the assessment year 1976-77, the assessee claimed exemption in respect of the capital gains arising from the sale of the above property under section 54 of the income-tax act. it was submitted that the assessee has purchased another property for a sum of rs. 1,10,000 within one year of the sale and, therefore, it is .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1958]33ITR760(AP)
..... both in the hyderabad income-tax act and the indian income-tax act, between tax and penalty and special provisions have been inserted in these acts relating to the recovery by this procedure. while sections 57 and 58 of the hyderabad income-tax act, corresponding to sections 45 and 46 of the indian income-tax act, deal with the recovery of tax payable on a notice ..... in our view, there is fallacy in this reasoning. where appeals have been provided, as in the case of the income-tax act, against all matters arising out of the administration of the income-tax act including the levy of penalty, the question as to whether any provision has been repealed or not could also be ..... , 1949.'5. the question is whether the legislature, by saving the hyderabad income-tax act for the purposes of levy, assessment and collection of income-tax and super-tax, saved the power of levying penalty also under section 40 of the hyderabad income-tax act. the first thing to be noticed under sub-section (1) of section 13 .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1990)89CTR(AP)136; [1991]187ITR246(AP)
..... the instant appeals on all fours and, accordingly, it is to be held that a company can be sentenced to fine only, though the provisions in the income-tax act contemplate a sentence of imprisonment and fine. 19. mr. dasaratharama reddy, learned counsel appearing for the firm/company, in support of his contention that since the ..... whether incorporated or not; and....' 10. section 278b has, thus, specifically rendered the company which includes a firm liable to prosecution for offences committed under the income-tax act. 11. the liability of a company in a prosecution for the offence committed by its agents had come into question in a number of cases, both english ..... the twin questions of law, namely : '(i) whether a company, being a juridical person, is liable for prosecution for an offence under the provisions of the income-tax act and (ii) whether a company, being a juridical person and incapable of being put to bodily punishment like sentence of imprisonment, can be sentenced to fine only .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1957]32ITR552(AP)
..... to be referred to this court :'whether the receipt of rs. 75, 820 on account of sale proceeds of madanapur is capital receipt being chargeable to income-tax under the hyderabad income-tax act ?'20. by raising the question in this form, the assessee presumably attempted to side-track the dispute between him and the department, namely, whether ..... of security and allowing deduction only in respect of the interest so apportioned to taxable securities. the first proviso to section 8 of the income-tax act exempts the payment of income-tax in respect of any interest payable on monies borrowed for the purpose of investment in securities by the assessee and it does not make a ..... supply co. ltd. turned upon the construction of the words 'actual cost to the assessee' within the meaning of section 10(5)(a) of the income-tax act. the learned judges of the patna high court held that the words meant the actual cost incurred in installing service connection irrespective of any consideration as to the .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1961AP7; [1960]39ITR636(AP)
..... group liquor shops c/o. sri baba gowd mutta gowd, excise contractor, nizamabad' and treating that assessee as an association of persons under the income tax act.3. the income-tax officer's attempts to collect the tax from baba gowd proved futile. so, he (i.t.o.) issued a notice of demand to rajah reddy mallaram on 13-3-1954. the ..... [1954]26itr99(mad) their lordships of the calcutta high court observed as follows:'the decision relates to sections 13 and 14 of the excess profits tax act, read with section 44 of the income tax act, as adapted by the central board of revenue and it is extremely unfortunate that the learned judge should have been told that the law applicable ..... latter obtained a copy of the order of assessment and filed an application under section 27 of the indian income-tax act for cancellation of the assessment. the income-tax officer received the application on 7-4-1954, and rejected it on two grounds, namely, (i) that it was out of time and ( .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1988]174ITR407(AP)
..... this reference made under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question for our determination : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is justified in holding that only a sum of rs. 18,000 could be brought to tax under section 160(1) and that the balance of ..... , hold that apart from rs. 18,000 per year, the amount received by the beneficiary in each of the assessment years is also liable to be assessed to tax under section 160(1)(iv) of the income-tax act, 1961. the reference is accordingly answered. no costs. ..... 1977-78 and 1978-79, the trustees as 'representative assessees' were assessed to tax by the income-tax officer on the entire income from the share fund under section 160(1)(iv) of the income-tax act on the ground that the beneficiary - anwar begum - is entitled to receive the said income. having failed before the appellate assistant commissioner, the assessees preferred a second appeal .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1990]182ITR345(AP)
..... the consideration of this court : ' (1) whether, having regard to the words 'at any time before the last instalment of advance tax is due' in section 212(1) of the income-tax act, 1961, the appellate tribunal was correct in coming to the conclusion that the last date for filing the revised estimate would be december 14, 1973 ..... the assessee, the penalty levied by the income-tax officer was confirmed by the commissioner of income-tax (appeals). on further appeal, the income-tax appellate tribunal also confirmed the order levying penalty. it is in these circumstances that the assessee sought for a reference under section 256(1) of the income-tax act and the following questions of law were ..... 's previous year ended on may 31, 1973. the income-tax officer required the assessee to pay advance tax of rs. 1,54,254 under section 210 of the income-tax act. on june 13, 1973, the assessee filed an estimate under section 212 of the act estimating the income for the assessment year 1974-75 at rs. 8,00 .....
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