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Needle Industries (India) Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [2000]242ITR186(Mad)

..... in negotiating export sale documents and realising saleproceeds of exports outside india against delivery of sale documents is not eligible for weighted deduction under section 35b of the income-tax act, 1961 ?'tax case no. 572 of 1986 (assessment year 1978-79) :'on the facts and circumstances of the case, was the incometax appellate tribunal right in holding ..... in holding that the sum incurred in negotiating sale documents for the goods exported outside india is not eligible for weighted deduction under section 35b of the income-tax act, 1961 ?'18. this will be the common question of law for all the assessment years. we answer the question of law as reframed by us in ..... common question that arises in the batch of cases is with reference to the claim of the assessee under section 35b of the income tax act, 1961 (hereinafter to be referred to as 'the act'), for export markets development allowance on the collection charges paid to the bank on export bills for various assessment years. it is .....

Shri D.K. Aggarwal Vs. Govt. of India and Others

Court : Delhi

Reported in : 2001IVAD(Delhi)922; 91(2001)DLT753

..... aggrieved by the order passed by the assessing authority that the petitioner was not entitled to deduction either in terms of section 80rra of income tax act or section 80-o of the income tax act.2. it is the case of the petitioner that the petitioner after his retirement from steel authority of indian limited as executive director ..... mr. poddar counsel for the petitioner has contended that the respondent failed to appreciate that in order to claim relief under section 80rra of income tax act the applicant was to satisfy that he was a technician, he has rendered his service on remuneration outside india and such remuneration was in ..... respondent. aggrieved by the said order, the petitioner filed an appeal under section 80rra of income tax act before the appropriate authority.3. joint secretary to the government of india, ministry of finance, (department of revenue), central board of direct taxes is the appropriate authority. joint secretary vide his letter dated 4th september, 1996 took the .....

Dr. V.P. Mainra Vs. Dawsons Leasing Limited

Court : Delhi

Reported in : 114(2004)DLT457; 2004(77)DRJ727; [2005]58SCL254(Delhi)

..... also but such proceedings must be in relation to assets of the company. the court in that case, which was under the income tax act, 1961, found that the complaint by the income tax officer against the directors of the company was made for the offences punishable under section 276-c and section 277 of the ..... income tax act and the allegation was that the accused willfully attempted to evade tax, penalty or interest chargeable or imposable under the provisions of the income tax act. section 276c provides for penalty when a person willfully attempts in any manner whatsoever ..... to evade any tax, penalty or interest chargeable or imposable under the income tax act. section 277 makes a person liable for imprisonment when he makes a statement in any verification under the income tax act or under any rule made there under or delivers an account or statement .....

M. Rajamoni Amma (Smt) and anr. Vs. Deputy Commissioner of Income Tax ...

Court : Supreme Court of India

Reported in : [1992]74CompCas356(SC); [1992]195ITR873(SC); 1993Supp(1)SCC604

..... , the deputy commissioner passed an order holding the appellants, who are directors of the company liable to pay the tax due from the company in view of the provisions of section 179 of the income tax act, 1961. the appellants preferred revision petitions before the commissioner of income-tax without success. at these two stages, no point was taken on behalf of the appellants that the company ..... was not a private limited company and, therefore, the proceedings under section 179 of the income-tax act were unjustified. however, subsequently, this objection was taken in .....

Medical Council of India Vs. State of Karnataka and Others

Court : Supreme Court of India

Reported in : AIR1998SC2423; JT1998(5)SC40; 1998(4)SCALE161; (1998)6SCC131; [1998]3SCR740

..... that act. the powers which the central board of direct tax exercise under section 119 of the income-tax act, 1961 are statutory in nature. a court is, however, not ..... not think that the aforesaid decision of the supreme court under the income-tax act, 1961 would be applicable to the clarification issued by the central government in its letter dated january 19, 1994. section 119 of the income-tax act, 1961 empowers the central board of direct taxes to issue such orders, instructions and directions to other income-tax authorities as it may deem fit for the proper administration of .....

Phaltan Sugar Works, Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : (1949)51BOMLR725

..... upon as such. now, i refuse to read clauses (15) and (16) of the agreement as bringing about the same result as section 4, sub-clause (3), of the income-tax act. sir jamshedji has argued that the raja of phaltan was all powerful and that he combined in himself the executive, the legislature and even the judiciary, and therefore we must ..... one anna in a rupee on the net profits of the said sugar factory. in calculating the net profits the usual deductions in respect of depreciation etc. permissible under the income-tax act for the time being in force in phaltan state shall be allowed. now, as i read these two clauses, all that they mean is that although there may be ..... a liability on the company to pay tax under the income-tax act, the phaltan state agrees not to recover that tax from the assessee company for a period of ten years or, to put it in a different language, the company and the state agree that .....

Deputy Commissioner of Income-tax (Assessment) and anr. Vs. Rajasthan ...

Court : Rajasthan

Reported in : (2008)217CTR(Raj)191; [2008]299ITR253(Raj)

..... . 1503 of 1995, the assessee challenged the constitutional validity of section 143(1a) of the income-tax act, 1961 (for short 'the i. t. act').2. the writ petitioner-assessee had returned a net loss. after adjustments had been made by the taxing authorities under the provisions of section 143(1)(a) the assessment of loss stood reduced. the ..... 243itr48(sc) , principally because the assessee in that case had not challenged the provisions of sub-section (1a).11. constitutional validity of section 143(1a)(a)(b) of the income-tax act was challenged in sanctus drugs pharmaceuticals p. ltd. v. union of india : [1997]225itr252(mp) . the division bench (headed by the hon'ble chief justice a. ..... filed by the assessee was correct by reason of the law as it stood when the return was filed. a retrospective amendment of section 28 of the income-tax act rendered that return incorrect. an adjustment in the return was made under sub-section (1) of section 143 and, therefore, the provisions of sub-section .....

Assistant Commissioner of Income Tax Vs. U. P. National Manufacturing ...

Court : Allahabad

Reported in : (2001)69TTJ(All)503

..... placed at p. 58 of the assessee's paper-book), which reads as under :'the assistant commissioner (tds) varanasi.filing of annual return under section 206c of the income tax act, 1961, for the financial year 1991-92.sir,we write with reference to your letter no. tds/annual/1991-92 dated 18-8-1992, served on 3-9-1992, ..... before us, which, are, in the following terms :2.1. as a result of newly inserted provisions of section 194h of the income tax act, 1961 (hereinafter referred to as 'the act'), as a result of finance act, 1991, which received the assent of the president of india on 27-9-1991, all these respondents were under an obligation to deduct ..... reply, the assistant commissioner (tds), varanasi, referred this case to the undersigned for the imposition of penalty under section 271c of the income tax act. accordingly, a show-cause notice under section 271c of the income tax act was issued by the undersigned on 28-12-1992, which was duly served on 30-12-1992, fixing the date of hearing on .....

income-tax Officer Vs. Amersey Exports (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1985)11ITD74(Mum.)

..... assessee received interest of rs. 56,972 from the government under section 214 of the income-tax act, 1961 ('the act'). the assessee credited this amount in profits and loss account and treated this amount as part of the business income of the relevant years. the ito treated this amount as income from other sources. in appeal, the commissioner (appeals) directed the ito to treat this amount ..... , in respect of any business to which this act applies, be charged, levied and paid...a tax". under the income-tax act, the levy of the tax is not in respect of any business but on chargeable income. secondly, under section 12 of the excess profits tax act, the tax was an allowable deduction for computation of the profits, while the income-tax under the 1961 act is not an allowable deduction. in these .....

Cesc Ltd. Vs. C.I.T. – Ii, Kolkata

Court : Kolkata

..... by it. the commissioner held that the electricity duty collected by the appellant licensee from the consumers falls within the purview of section 43b of the income tax act, 1961 and as such he dismissed the appeals of assessee-company and upheld the order of the assessing officer. (4) the assessee company preferred appeal against ..... senior counsel for the appellant advanced before us essentially the same arguments that were made before the ld. tribunal. he submitted that section 43b of the income tax act does not apply to electricity duty collected by the assessee-company as licensee, on behalf of the state government inasmuch as the electricity duty which the assessee ..... are that the assessee company (appellant herein) did not include the unpaid electricity duty while computing disallowance to be made under section 43 of the income tax act. the electricity duty was realized by the assessee company from the consumers which is finally paid to the state government. the assessing officer was of .....