Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Page 27 of about 165,368 results (0.632 seconds)

Rajasthan Patrika Ltd. Vs. Union of India and Others.

Court : Rajasthan

Reported in : (1995)121CTR(Raj)255; [1995]213ITR443(Raj)

..... 269ul (chapter xx-c of the income-tax act, 1961), etc., from the income-tax department in accordance with law and it its own cost and expenses;(iv) that respondent no. 4 after collection receipts of payment of taxes, obtaining tax clearance certificate/no-objection certificate/certificate from the income-tax department under the income-tax act, 1961, for registration of sale deed shall ..... on behalf of the petitioner, has not addressed any argument on the question of the constitutional validity of the provisions of chapter xx-c of the income-tax act, 1961, and rightly so because the constitutional validity of the same has already been upheld by the supreme court. it was also stated by shri n. ..... on june 1, 1991, which has been filed with the writ petition as annexure 'd'. thereafter, a show-cause notice under section 276ab of the income-tax act, 1961, dated june 3, 1991, issued by respondent no. 3 was received by registered post on june 5, 1991, requiring the petitioner and respondent no. .....

Pfizer Limited Vs. K.N. Anantharama Aiyar, Commissioner of Income-tax ...

Court : Mumbai

Reported in : (1984)86BOMLR669; (1985)46CTR(Bom)191; [1987]163ITR461(Bom); [1985]22TAXMAN80(Bom)

..... about the assessee's liability to pay interest under section 215 of the income-tax act, 1961.2. we are here concerned with the assessment year 1972-73, the petitioner's previous year being december 1, 1970, to november 30, 1971. the petitioner was liable to pay advance tax on june 15, 1971, september 15, 1971, and december 15, 1971 ..... p. ltd. : [1979]118itr525(bom) , this court was considering an application under section 256(2) of the act for a reference. in rejecting the application, it observed that there was a clear finding by the income-tax appellate tribunal that the payment that had been made by the assessee had been accepted by the revenue as payment of an ..... march 30, 1981, the commissioner of income-tax held, 'having regard to the fact that the last instalment of advance tax was paid after the due date, however short the delay is, the advance tax paid can be considered as advance tax only if it is paid on the dates prescribed in the act, the provisions of section 215 have been .....

The Commissioner of Income-tax, Delhi Vs. Hindustan Industrial Corpora ...

Court : Delhi

Reported in : ILR1972Delhi233; [1972]86ITR657(Delhi)

..... penalty was livable in the case of a registered firm u/s 271(1) read with 271(2) of the income-tax act, 1961, the tax payable by such firm should be determined after deducting the advance tax paid by the partners u/s 18-a of the indian income tax act, 1922, in respect of their shares of profits from the firm from the gross ..... livable u/s 271(l)(i) of the income-tax act, 1961, the amount paid by the assessed under the provisional assessment u/s 23-b of the indian income tax act, 1922, was to be deducted from the amount of tax determined u/s 23(3) of that act in order to determine the amount of tax on which the computation of penalty was to be ..... took more than two years to complete the assessment. the assessment was made on 31st october, 1962 after the-income-tax act, 1961 had come into force. the assessed was served with a notice under section 274(1) of the act in connection with the proceedings for imposition of penalty. this notice was issued on the 15th may. 1963. a preliminary objection .....

Chiranjilal Shrilal and Others Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : (1991)97CTR(Bom)163; [1991]191ITR384(Bom)

..... assessee' reference. the assessee are trustees of a trust. the assessment year involved is 1971-72. the income-tax appellate tribunal has referred to this court the following question of law under section 256(1) of the income-tax act, 1961 (for short, 'the act') : 'whether, on the facts and in the circumstances of the case and on the interpretation of ..... the trust deed dated june 30, 1962, the assessee were liable to pay tax on 75 per cent. of its total income at the maximum rate of 65 per cent. as provided by section 164 of the income-tax act, 1961 ?' 2. one shri chiranjilal shrilal goenka settled some of his properties on trust by an ..... indenture dated june 30, 1962. the indenture, inter alia, provided that the trust income shall be accumulated for 18 years. thereafter, 25% of the trust fund .....

Prannoy Roy and anr. Vs. Commissioner of Income Tax and anr.

Court : Delhi

Reported in : 2002IIIAD(Delhi)569; 96(2002)DLT269; [2002]254ITR755(Delhi)

..... reported in i.l.r.(2001) a.p 1 while interpreting the provisions of sections 156 and 220(2) of the income-tax act, 1961 (short, the 'act'), as inserted by taxation laws (continuation and validation of recovery proceeding) act, 1964, it was notice that:- 'interest is payable if a sum is due. where the assessed is in default in ..... of section 234a of the income-tax act,1961 (hereinafter referred to as the 'act') is in question in this writ petition.2. the brief facts are as under:-the petitioners earned substantial capital gains for the assessment year1995-96 for which the return was due to be filed on 31.10.1995. however, taxes duewere paid on 25.09 ..... dated 31.10.1989 182 itr 37 wherein it wasstated:-'payment of mandatory interest to replace various interests and penalties:-10.1. the old provisions in the income-tax, act, which gave the assessing authorities discretionary powers to charge interest and also to levy penalties for the same default, werefound to be rather complicated. these were .....

Commissioner of Income-tax, Tamil Nadu Vs. Inland Agencies P. Ltd.

Court : Chennai

Reported in : (1982)30CTR(Mad)174; [1983]143ITR186(Mad)

..... ) whether, on the facts and in the circumstances of the case, the assessee was entitled for the deduction permissible under section 80g of the income-tax act, 1961, in respect of the donation of rs. 5,000 made by it to 's.r.m.m.c.t.m. tiruppani trust' for the assessment year 1970-71 ?' 2. the ..... assessee of rs. 15,168 from the liquidator of the united india life insurance company during the accounting year ending december 31, 1969, chargeable under section 46(2) of the income-tax act, 1961, the proportionate cost of acquisition of the shares held by the assessee in the said company attributable to the said sum of rs. 15,168 is to be deducted (2 ..... sethuraman, j.1. under s. 256(1) of the i.t. act, the income-tax appellate tribunal has referred the following two questions : '(1) whether, on the facts and in the circumstances of the case, in computing the capital gains arising out of the receipt .....

Travancore Rayons Ltd. Vs. Income-tax Officer and anr.

Court : Kerala

Reported in : [1977]109ITR43(Ker)

..... the petitioner could have claimed the reliefs based on the entry 'paper and pulp including newsprint' in the 5th and 6th schedules to the income-tax act, 1961. the petitioner points out that the government of india has actually issued a licence for setting up a unit for the manufacture of cellulose film ..... 1968-69, the petitioner had made applications on november 16, 1967, and february 3, 1969, respectively, for the issue of a tax credit certificate under section 280zb of the indian income-tax act before the first respondent. the said section provides that: 'where any company engaged in the manufacture or production of any of the articles ..... no statutory remedy, according to the petitioner, available for questioning exhibit p-10 order dismissing the appeal.13. the tax credit certificate scheme under section 280zb of the income-tax act provides for the grant of tax credit cretificate to companies engaged in the manufacture or production of any of the articles specified in the first schedule to .....

Mohan MeakIn Limited Vs. Commissioner of Income Tax, Delhi

Court : Delhi

..... 1. this is an appeal under section 260a(1) of the income tax act, 1961 (for short "the act") against the order of the income tax appellate tribunal (for short "the tribunal") dated 3rd january, 2005 for the assessment years 1986-87. the appellant/assessee is engaged in the manufacturing of liquor, beer, ..... the departmental authorities and the tribunal, and indeed they would be under a duty to grant that relief. it was also held that there was nothing in the income tax act which restricts the tribunal to determine all questions raised before the departmental authorities and that all questions, whether on law or facts, which relates to the assessment of ..... a loss of capital, or must be treated as revenue expenditure. the supreme court held as under: "the tax under the head "business" is payable under section 10 of the income-tax act. that section provides by sub-section (1) that the tax shall be payable by an assessee under the head "profits and gains of business, etc." in respect of the .....

Commissioner of Income-tax, Kerala Vs. R.R. Ramakrishna Pillai

Court : Supreme Court of India

Reported in : [1967]66ITR725(SC)

..... was intended and on that account the difference between rs. 70,000 and the written down value of the motor buses could not be brought to tax under section 10(2) (vii) of the indian income-tax act. 2. at the instance of the commissioner, the tribunal referred the following question to the high court of kerala : 'whether the sum of rs. 45,698 ..... tribunal in the absence of any clear finding recorded by the tribunal. it will be open to the tribunal to rehear the parties under section 66(5) of the indian income-tax act and to record clear findings in the light of the observations made in this judgment. there will be no order as to costs in this appeal. ..... allowed), and the balance of rs. 70,000 be taken into account under section 10(2) (vii), proviso two of the indian income- tax act, 1922, as profit of the service. the appellate assistant commissioner agreed with the view of the income-tax officer. he observed that 'the sale value of the assets would be taken at rs. 70,000 for the 7 buses' and .....

Commissioner of Income-tax, Bombay City-i Vs. Mehboob Productions Pvt. ...

Court : Mumbai

Reported in : [1969]74ITR676(Bom)

..... assessee was entitled to claim it as if it were a bad debt and counsel urged that it would fulfil all the requirements of section 10 (2) (xi) of the income-tax act. 13. when the matter had come before us on a previous occasion after the parties were partly heard we felt that the decision of the question raised would be considerably ..... the assessee. as an argument of equity the argument is undoubtedly attractive, but as is well known there is no equity about a tax and equitable considerations are completely out of place in considering matters under the indian income-tax act so long as the provisions of law are clear. in our opinion, a consideration that, in the past, profits arising in favour of ..... the hands of the assessee has been reduced. we are unable to sustain the claim to have this amount deducted under the provisions of section 10 (2) (xi) of the income-tax act. 24. some reference was made in the course of the argument to the decision of the supreme court of india in commissioner of .....