Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: chennai Page 17 of about 13,056 results (0.231 seconds)

M.V. Ganesh and Mrs. Rajee Viswambaran Vs. the Commercial Tax Officer,

Court : Chennai

Reported in : [2005]141STC236(Mad)

..... entered into a partnership with ten other persons to conduct the business. application for grant of registration to the said firm under sections 184 and 185 of the income tax act, 1961 was made. the question arose in that case was as to whether the request for such registration could be granted. the supreme court of india answered in ..... the negative holding that it would be wrong to think that while acting under the income-tax act, the income-tax officer need not look to the law governing the partnership which is seeking registration and that it would probably have been a different matter if the ..... commenced the business on 7th october, 1944. but the said association was dissolved after the close of the accounting year. when notice under section 34 of the income-tax act was issued to the petitioner in 1950, he returned it stating that the business was being managed by one rowther and hence the notice should go only to .....

Commissioner of Wealth-tax Vs. Gangabai Charities

Court : Chennai

Reported in : (1999)151CTR(Mad)580; [1999]236ITR735(Mad)

..... the trust.' ' the supreme court, interpreting the terms of that document for the purpose of deciding the claim of the assessee for exemption of its income under the income-tax act held that it was not possible from the terms of the document to conclude that, the trust was set out wholly for charitable and religious purposes. ..... of india : [1995]215itr1(bom) .14. it is no doubt true that the claim made under the wealth-tax act must be decided in terms of the provisions of that act and not in terms of the income-tax act. counsel is right to that extent. however, we cannot accept the further submission made for the assessee that the interpretation ..... purpose of considering the claim of the assessee for exemption under the wealth-tax act, although the wealth-tax act does not contain a definition of 'charitable purposes' unlike the income-tax act. as to what is the effectof the document, so interpreted for the purpose of wealth-tax is of course to be considered de hors the result of the assessee .....

The Commissioner of Income Tax Vs. C.C.C. Holdings

Court : Chennai

Reported in : (2003)182CTR(Mad)531

..... deduction of interest payment of rs.3,22,438/- to foreign banker from the business income under section 40(a)(i) of the income-tax act, 1961 as the required tax was not deducted at source under chapter xvii b of the income-tax act. on appeal, the commissioner of income-tax (appeals) allowed the payment of interest in a sum of rs.1,06,296/- ..... interest shall not be a deductible item in the computation of total income if the tax payable has not been deducted at source under chapter xvii-b of the income-tax act. it is also relevant to mention that under section 9(1)(v) of the income-tax act, the interest income payable by a resident is deemed to accrue or arise in india ..... his letter dated 26.12.1991 contended that as per the provision regarding deduction of tax at source stipulated under section 40(a)(i) of the income-tax act, tax has to be deducted only if the interest payable outside india is chargeable to tax in india and further claimed that since the money has been lent outside india, the .....

J. Jayalalitha, Vs. the Asst. Commissioner of Income Tax

Court : Chennai

Reported in : (2007)209CTR(Mad)305

..... opportunities, show cause notice dated 14.6.1996 and 10.7.1996 were issued to the accused asking her to explain why prosecution proceedings under section 276cc of income-tax act, 1961 should not be initiated against her. . ...the reasons given by the accused for such an inordinate delay are not tenable and cannot be accepted. pre- ..... like 'dormant partner' under the law. 11. the relevant provisions of law can be referred to at this stage. section 276cc of the income tax act, 1961 reads thus:failure to furnish returns of income. 276cc. if a person wilfully fails to furnish in due time the return of fringe benefits which he is required to furnish under sub- ..... committed an offence punishable under section 276cc of the income tax act, 1961.as there was no statutory compliance of filing the return of income within the due date, and as the failure in filing the said return of income still persisted, a notice under section 142(1) of the income tax act, 1961 was issued to the accused on 18.1.94 .....

Commissioner of Income Tax. Vs. Shri Renuga Textiles Mills Limited

Court : Chennai

..... limited v. c.i.t, relied on by the revenue, the apex court held that in order to attract the provisions of section 41(1) of the income tax act, 1961, the identity of the assessee in the earlier year in which deduction was granted in relation to a trading liability and in the subsequent year in which benefit ..... derived benefit of the sum which was claimed as trading liability at the hands of the amalgamated company. but, then it was not liable to tax under section 41(1) of the income tax act, 1961. the apex court pointed out that upon amalgamation, the amalgamating company ceased to exist and the assessee company was a separate entity. hence, the ..... amalgamating company would not liable to pay tax under section 41(1) on the benefit derived by it in relation to the deduction allowed to the amalgamated .....

Commissioner of Income-tax Vs. Sundaram Clayton Ltd.

Court : Chennai

Reported in : (1988)74CTR(Mad)122; [1989]179ITR593(Mad)

..... revenue having failed to obtain a stated case under section 256(1) of the income-tax act, 1961 (hereinafter refereed to as the 'act'), has filed these petitions under section 18 of the companies (profits) surtax act, 1964, read with section 256(2) of the income-tax act, seeking a direction form this court for reference on the following question of law ..... section 244(1a), the appellate tribunal was right in law in holding that the order of the income-tax officer granting interest under section 18 of the surtax act read with section 244(1a) of the income-tax act are not prejudicial to the interest of the revenue and on that ground setting aside the order ..... to the reliefs obtained in the computation of income under the income-tax act. the surtax officer granted the refund with interest worked out from the date of payment of tax to the date of refund. subsequently, however, the commissioner of income-tax acting under section 263 of the act considered that payment of interest to the assessee .....

Commissioner of Wealth-tax Vs. V.S. Meenakshi Achi

Court : Chennai

Reported in : [1994]205ITR260(Mad)

..... typographical error had crept in, in that, the name of the dead person has been given as the respondent. even section 42c of the act, comparable to section 292b of the income-tax act, 1961, cannot be pressed into service by the revenue for, it cannot be stated that, in substance and effect, the appeals preferred by the revenue ..... is in substance and effect in conformity with or according to the intent and purpose of the act, would not invalidate the assessment and that, as the entire proceedings were conducted ..... purpose of completion of the proceedings and for the recovery of the tax, in her hands, and, therefore, no exception could be taken to the order passed by the tribunal. in addition, it was also pointed out that, under section 292b of the income-tax act, 1961, any mistake, defect or omission in the assessment, if the assessment .....

Sree Visalam Chit Funds Ltd. Vs. Commissioner of Income-tax and ors.

Court : Chennai

Reported in : [2000]245ITR628(Mad)

..... cancelling or releasing the security over the properties offered for payment of future chit instalments without insisting on the production of income-tax clearance certificate under section 230a of the income-tax act, 1961. 2. the petitioner is a chit fund company. it obtains from its prized subscribers or their guarantors security, documents charging ..... existing liabilities under this act, the excess profits tax act, 1940 (15 of 1940), the business profits tax act, 1947 (21 of 1947), the indian income-tax act, 1922 (11 of 1922), the wealth-tax act, 1957 (27 of 1957), the expenditure-tax act, 1957 (29 of 1957), the gift-tax act, 1958 (18 of 1958), the super profits tax act, 1963 (14 of ..... to the petitioner are received in full, the petitioner executes discharge receipts which are also registered. the petitioner claims that section 230a of the income-tax act is inapplicable to the registration of such discharge receipts. 4. it is the case of the petitioner that it acquires no right over the .....

K. Bhagavatheeswaran Vs. Institute of Chartered Accountants of India a ...

Court : Chennai

Reported in : [1990]68CompCas1(Mad)

..... the institute of chartered accountants of india, new delhi. that notification states that the total number of audit assignments under section 44ab of the income-tax act, 1961, in the case of chartered accountants in practice, shall be restricted to thirty tax audit assignments in a financial year and, similarly, in the case of a firm of chartered accountants in practice, it shall be restricted ..... . all the auditors cannot be placed on an equal footing and an assumption cannot be made that an auditor would be able to fulfil his obligations only up to 30 tax audit assignments under section 44ab of the income-tax act in the financial year. no statistics have been produced in support of the contention of the respondents that only 30 .....

Metal Powder Co. Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [2002]258ITR123(Mad)

..... :'1. whether the tribunal was right in holding that in computing the relief under section 80j of the income-tax act, 1961, for purpose of arriving at the capital employed in various units, the liabilities of head office mainly sales tax loan and fixed deposits should be deducted ? 2. whether the tribunal was right in holding that the ..... commission is a part of remuneration and confirming the disallowance under section 40(c) of the income-tax act of rs. 48,000 paid to general manager of the company ?' 2. in so far as the second question is concerned, learned counsel, mr. janar- ..... the aforementioned units and therefore they cannot be excluded from the allowable deductions under section 80j.5. the matter went before the commissioner of income-tax (appeals) and the commissioner of income-tax (appeals) also came to the conclusion that it was not proved whether these amounts were not made available for the aforementioned units. the .....