Array
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    [0] =>  ..... of the various judicial pronouncements, we have come to the conclusion that the activities are charitable in nature within the meaning of section 2( 15) of the income-tax act, 1961 and on this point, therefore, we differ from the conclusion arrived at by the judicial member. in other words, we agree with the conclusion of the ..... standing counsel was that the activities of the corporation could not be considered to be charitable in nature within the meaning of section 2(15) of the income-tax act, 1961 as held by the judicial member. the learned standing counsel relied on certain decisions to submit that courts were declined to hold that those entities were  ..... issues now under consideration are concerned, as under: (1) that the assessee-corporation is a charitable institution within the meaning of section 2(15) of the income-tax act, 1961; (2) that clause 28 of the memorandum of association dealing with dividends represented only a power given to the corporation but not an object by itself and  ..... 
    [1] =>  .....  impossible for the assessee to carry on its manufacturing activity and whatever expenditure that is incurred to keep its business going on is allowable expenditure under section 37 of the income-tax act. i am of the view that the ratio of the following decisions relied upon by the learned dr docs not apply to the facts of the present case.in this .....  total sum of rs. 37,488 towards electricity charges. it has produced all the receipts of having paid electricity charges and also filed photo copies of the same before the income-tax officer. out of the receipts so produced, no. 9408 was perused by the ito. according to him, the payment under the said receipt (rs. 8,625) was not towards electricity .....  1. this is a departmental appeal directed against the order of the commissioner of income-tax (appeals) - ii, hyderabad dated 12-2-1988.2. the appeal relates to assessment year 1984-85. two points are involved in this appeal. the first is with regard to the  ..... 
    [2] =>  ..... ) iv, hyderabad dated 7-2-1989.2. the only point involved is whether the addition of rs. 32,000 made under section 68 of the income-tax act, 1961 (hereinafter called the act) in the hands of the assessee-company is justifiable. few facts relating to this addition are the following.3. smt. samanthakala and smt. sashirekha are daughters of shri k. .....  in the account books of the company.therefore, we hold that the finding of the lower authorities that rs. 32,000 should be treated as undisclosed income of the assessee under section 68 of income-tax act in our opinion cannot be held to be sound either on law or on facts. we, therefore, reverse their finding and allow the appeal. the  ..... found to have been received by an assessee is on him. if he disputes the liability for tax, it is for him to show either that the receipt was not income or that if it was, it was exempt from taxation under the provisions of the act. in the absence of such proof, the revenue is entitled to treat it as taxable ..... 
    [3] =>  ..... made very clear in the head note of the decision itself which is as follows : when once an appeal has been filed under section 248 of the income-tax act, 1961, against an order of the income-tax officer under section 195(2) on an application for determining the chargeable proportion of the sum to be remitted to a non-resident for the purpose of  ..... of the amounts for which permission is sought are allowed to be sent by nmdc to the nr. as a representative assessee to the nr under section 163 of the income-tax act, the nmdc contended that the amounts sought to be sent for assessment years 1985-86 and 1986-87 to the nr viz., 72,522 dm and 17,833 dm ..... down that any person having in accordance with the provisions of sections 195 and 200 deducted and paid tax, in respect of any sum chargeable under the income-tax act other than interest and who denies his liability to make such deductions, may appeal to the cit(a) to be declared that he is not liable to make such deduction. further reference may be ..... 
    [4] =>  ..... on the facts and in the circumstances of the case, it has been rightly held that the provisions of section 64(1)(ii) of the income-tax act, 1961 would not be applicable and therefore the share incomes arising to the minor sons of the assessee have to be deleted.the tribunal referred the said question of law for the opinion of the honourable .....  court of judicature, andhra pradesh.the reference to any other high court is, therefore, invalid, incompetent and irrelevant. he draws our attention to section 256(1) of the income-tax act and points out that the words used by the legislature in the said section are "the high court" and "a high court". the decision of the madras high court  .....  66 itr 478, had an occasion to adjudicate upon the duty of the tribunal under section 68(5) of the 1922 act. it has been held by the apex court that section 66(5) of the indian income-tax act, 1922, clearly imposes an obligation upon the tribunal to dispose of the appeal in the light of and conformably with the  ..... 
    [5] =>  ..... of the assessee for assessment years 1982-83, 1983-84, 1985-86 and 1986-87 directed against the orders under section 263 of the income-tax act, 1961 dated 11-11-1987 passed by the commissioner of income-tax, a.p-ii, hyderabad for assessment years 1982-83 and 1983-84 and another revisionary order dated 17-1-1989 passed by her successor ..... huf was shown at rs. 23,313 whereas the same was shown at rs. 11,350 for assessment year 1983-84. the returned incomes were accepted under section 143(1) of the income-tax act by the income-tax officer for both these assessment years by his orders dated 27-3-1986. subsequently these two assessments were taken up for scrutiny by  ..... , huf now the assessee before us has carried on the business with shri m. manik rao (individual) who is a person under section 2(31) of the income-tax act. under law nothing prevents a coparcener investing his individual funds and carrying on a partnership business along with his huf. from the facts and circumstances of the case it ..... 
    [6] =>  .....  object of declaration of dividends.it was then submitted that the meaning of the word "loss" should also be understood in the context of the income-tax act, 1961, and not the companies act, and when the word "loss" had been understood in judicial decisions as meaning loss before depreciation, the same meaning has to be given for .....  have been set down for hearing by a special bench as they involve a common question of law of general importance relating to the construction of section 115j of the income-tax act, 1961.2. the facts relating to messrs. surana steels (p.) ltd. (i. t. a. no.1845/ (hyd.) of 1990) are as follows. the assessee  ..... once the provisions of section 205(1){b) of the companies act had been incorporated in the income-tax act, 1961, the meaning and implications with reference to the companies act were irrelevant and that section had to be understood only in the context of the provisions of the income-tax act, 1961. it was submitted that the provision should be approached with  ..... 
    [7] =>  ..... . section 33b is not a charging section. the enactment of sectiqn 263(3) of the income-tax act, 1961 must be regarded as declaratory of the law which was already prevailing. the enactment of an ex mqjore cautela provision in the 1961 act would be a legislative recognition of the legal position that obtained as a result of judicial pronouncement .....  and its action in not declaring dividend from out of the surplus funds cannot be found fault with under sub-section (2) of section 104 of the income-tax act. it is the further contention of the assessee that the provisions of section 104(2) would apply to the facts and circumstances of this case. under the ..... are also entitled to investment allowance since they are considered to be industrial undertakings manufacturing or producing articles or things within the meaning of section 32a of the income-tax act. we are further of the view that in view of section 104(4)(a), the provisions of section 104 itself do not apply to indian companies whose ..... 
    [8] =>  ..... filed its return disclosing a loss of rs. 31,143 from its business. however, the assessment was completed under section 143(3) of the income-tax act on 27-12-1982 on a positive income of rs. 15,960. during the course of the assessment proceedings, the assessing officer had the occasion to examine the accounts of the partners  ..... 3-1985. he stated in the penalty order as follows: a penalty notice under section 271(1)(c) of the act was initiated for concealing particulars of such income.thus, it can be seen that the income-tax officer had issued notice under the two limbs of the main section and he never touched explanation 1 to section 271( .....  (supra). therefore, for this reason, the impugned order of the commissioner (appeals) should be sustained. further the only other ground on which penalty was imposed by the income-tax officer was the following: - having agreed to the addition in the course of assessment proceedings, the assessee cannot dispute the same now. hence the assessee's reply is ..... 
    [9] =>  .....  before the ito, had claimed that the subsidy received from apseb was capital in nature and hence it was not assessable to tax under the provisions of the income-tax act. the assessee had in its books of account, transferred the subsidy to the capital reserve account from revenue account. the ito, however, noticed that apseb had in fact deducted  .....  was for establishing the unit, the subsidies are capital in nature.17. further, the learned counsel draws our attention to the decision in the case of senairam doongarmall v. cit [1961] 42 itr 392, in which the supreme court held that "it is the quality of payment that is decisive of the character of the payment and not the method of .....  the interpretation of another c.o., viz., g.o. ms. no. 678 dated 27-4-1961.the argument advanced on behalf of the assessee in that case was that the benefit of power tariff concession could not be taxed inasmuch as it was a windfall income or a casual or non-recurring receipt. the court held that even if it was to ..... 
    [10] =>  ..... for the year ended 31st march in compliance of the provisions of the income-tax act, 1961, and by having any other date for the purpose of closing the books of account under the income-tax act, 1961. the sub-section (3) of section 209 of companies act made it obligatory on the part of the companies to provide charge interest ..... dated 18-9-1995, passed under section 263 of the income-tax act, 1961 for the assessment years 1991-92 and 1992-93.2. the common effective grievance of the assessee in these appeals is that the cit(a) erred in assuming jurisdiction under section 263 of the income-tax act, and in setting aside the assessments made under section 143( ..... it obligatory on the part of the assessing officer to assess the income as per the provisions of section 209(3) of the companies act, 1956, ignoring the method of accounting consistently followed in accordance with the provisions of section 145 of the income-tax act, 1961. without prejudice to the above, we respectfully submit that even  ..... 
    [11] =>  .....  1999-2000. there ate two issues that arise out of this appeal: first, whether the reopening of the assessment was validly made under a 147 of the income-tax act, 1961; and second, whether the amount of rs. 25,00,000 received by the assessee from natco pharma ltd. is a capital receipt or a revenue receipt.  .....  note:- "the legislature in its wisdom has given two options to the assessing officer to reopen assessments: (a) accepting the return of income by merely processing it under section 143(1) of the income-tax act, 1961, without making investigation, and (b) taking up the case for scrutiny and completing the assessment under section 143(3) of the .....  act. merely because the assessing officer has two options for reopening the matter processed under section 143(1), non-exercise of option under  ..... 
    [12] =>  .....  aside. the commissioner (appeals) while holding that the contracts entered into by the appellant are works contract, lost sight of the relevant provisions of the income tax act, 1961, valid lesls and guidelines laid down by various benches of income tax appellate tribunal, the jurisdictional high court/other high courts as well as the hon'bte supreme court. the hon'ble jurisdictional high court in the .....  claim on account of the same. however, wherever sale-in-transit is effected, powergrid shall issue requisite sales tax declaration forms to you.in respect of erection contracts, the assessee had deducted taxes at source duly applying the provisions of section 194c of the income tax act, 1961. in so far as the supply contracts are concerned, the assessee did not make any deduction, on the ..... 
    [13] =>  ..... are entertained for disposal.3. the first point of dispute is with regard to the amount of claim of the assessee under section 80-o of the income-tax act, 1961 (the act).the assessee is a government of india undertaking operating dredgers and running incidental technical services. it had undertaken a port management contract as a sub-contractor to  ..... appeals) has simply remarked that the first items of rs. 30,000 is admissible on the basis of the slab rates permitted under section 37(2) of the income-tax act.in the context of these summary figures and the summary remarks, we are unable to appreciate properly whether the expenditure, though on entertainment, was really incurred for  .....  to him in the earlier year, could be related back to the earlier year and made taxable along with the income of that year.... no power is conferred on the income-tax officer under the act to relate back an income that accrued or arose in a subsequent year to another earlier year on the ground that the said ..... 
    [14] =>  .....  or arisal is within or without india, since in either event, is liable to be charged to tax on such income.there is no clause in section 5(2) corresponding to clause (c) of section 5(1) of the income-tax act, 1961. this shows that in the case of non-resident unless the place of accrual or arisal of his ..... the double taxation agreement and are not inclined to agree with the findings of the cit (appeals). from the appellate order, the extract of which is given above, it appears that cit (appeals) has not properly appreciated sections 5, 9 and 163 of the income-tax act, 1961, and confused himself regarding the applicability of those sections. in this connection, we  .....  income is within india, it cannot be subjected to tax i.e., only to the extent to which any income accruing or arising within india is fictionally deemed to accrue or ..... 
    [15] =>  ..... the other hand, the learned dr submitted that the assessee has no right to raise additional grounds at this juncture in the light of section 124(3) of income-tax act, it was submitted that neither at the time of completion of assessment proceedings nor during the penalty proceedings, the assessees have raised the objection before the ito,  .....  1. these appeals are filed at the instance of 5 assessees. penalty levied under section 271(1)(c) of the act and confirmed by the learned commissioner of income-tax (appeals) is the subject matter of dispute before us. since the issues involved in all these appeals are more or less identical, they are  .....  circumstances, intentionally avoid filing regular income-tax returns so as to face the consequences of paying huge tax in terms of compulsory interest leviable under section 234 a, b & c of the act and also the penalties levied under other provisions of the act. similarly, the balance-sheet, profit & loss a/c and tax audit reports of the firm filed ..... 
    [16] =>  ..... ) referred : section 245n(b)(iii) dt. of issue 3.8.2000 "in exercise of the powers conferred by sub-clause (iii) of clause (b) of section 245n of the income tax act, 1961 (43 of 1961), and in supersession of notification no. s.o. 473(3), dated 21st june, 1999, the central government here by specifies public sector company as defined in clause (36a) of .....  apply to them has to be viewed also from the definitions under the income tax act and under the companies act: section 2(36a) of income tax act, 1961: "public sector company means any corporation established by or under any central state or provincial act or a government company as defined in section 617 of the companies act, 1956 (1 to 1956) "section 617: definition of government company':- for the ..... 
    [17] =>  ..... order for the sake of convenience.2. the first point in dispute is as regards the quantum of deduction under section 36(1)(viii) of the income-tax act, 1961 ('the act')- the assessee, andhra pradesh state financial corpn., is approved by central government, for purposes of section 36(1)(iii). during the relevant previous years ..... which is as follows : xxv/i/50 - special reserve account under section 36(1)(viii) of the income-tax act, 1961 in the case of financial corporations - clarification regarding under section 36(1)(viii') of the income-tax act, 1961, financial corporations engaged in providing long-term finance for industrial or agricultural development in india are entitled to a ..... may arise whether the specified percentage of rate is to be applied to the total income (computed before making any deduction under chapter vi-a) before or after making any deduction under section 36(1)(iii) of the income-tax act, 1961. 2. this question was examined by the board on an earlier occasion and the ..... 
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