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In Re Ktc Tyres (India) Ltd.

Court : Kerala

Reported in : [2002]125TAXMAN899(Ker)

..... ltd.'s case (supra), is an authority for the proposition that between unsecured creditors the claim of tax due under section 178 of the income tax act would have preference over all other claims of unsecured creditors.6. we are of the view, apex court in imperial chit funds (p) ltd.'s ..... p) ltd.'s case (supra). what was raised before the apex court was whether order passed under section 178 of the income tax act would have preference over rights of unsecured creditors. the apex court held that income tax department is to be treated as secured creditor and would get priority in the matter of payment. imperial chit funds (p) ..... meet them, in which case they shall abate in equal proportions.'we have to examine the claim of the income tax department vis-a-vis section 529a of the companies act. section 529a was inserted in the companies act by act 35 of 1985. sections 529a and 530 confer special rights and benefits on the workmen of the undertaking. .....

S.A.P. Mariyumma and ors. Vs. State of Kerala and ors.

Court : Kerala

Reported in : AIR1991Ker301

..... interest on the debt or damages, the sum of interest so included is taxable under the income-tax acts. if the said amount was 'interest of money' within schedule d andthe general rule 21 of the all schedules rules of the income-tax act, 1918, income-tax waspayable thereon. in that context it was contended that money awarded as damages for the ..... tendering or depositing compensation to him. the supreme court had occasion to examine the legal character of interest payable under s. 34 of the act, in the case of sham lal v. income-tax commissioner, air 1964 sc 1878. the relevant discussion is in paragraphs 8 and 9, which we may extract as follows :'8. the legislature ..... expressly used the word 'interest' with its well known connotation under section 34 of the act. it is, therefore, reasonable to give that expression the natural .....

K.A. Karim and Sons Vs. Commissioner of Income-tax and anr.

Court : Kerala

Reported in : [1990]186ITR97(Ker)

..... facts and in the circumstances of the case, the petitioner is entitled to getinterest in terms of section 132b(4) as well as under section 244(1a) of the income-tax act, 1961, (for short 'the act') ?'4. a resume of the facts relevant to decide the issue can be stated thus : an amount of rs. 5,52,000 was seized by the enforcement directorate ..... , trivandrum, from the residence of the petitioner. on a requisition under section 132a(1) of the act, the enforcement directorate handed over the above amount to the income-tax department on june 28, 1980. the income-tax officer thereafter passed an order under section 132(5) on september 19, 1980, and retained the above amount of rs. 5,52 .....

Gannon Dunkerley and Co., Madras (Private) Ltd. Vs. Sales Tax Officer, ...

Court : Kerala

Reported in : AIR1957Ker146; [1957]8STC347(Ker)

..... partition of the legislative power effected by article 246 and the entries in the three lists of the seventh schedule.14. in firm l. hazari mal kuthiala v. income-tax officer, special circle, ambala cantt, air 1957 punj 5 (i), bhandari, c.j. said that the three expressions, levy, assessment and collection occurring in section 13 ..... the union list (like the cotton excise duties), and to use the income for its own purposes'.17. the second contention is that even if the travancore-cochin general sales tax act, 1125, is not ultra vires of the constitution, the legislative intent was only to tax the sale of goods strictly so called and that the intent is ..... view and held:'the construction of a building or the repair of a car comes under the definition of works contract with taxable turnover under the mysore sales tax act. although the material that is supplied for construction of a building merges in the immovable property, its value has to be apportioned for the purposes of taxation .....

K.V. Moosa Koya and Co. Vs. Income-tax Officer and anr.

Court : Kerala

Reported in : (1988)74CTR(Ker)14; [1989]175ITR120(Ker)

..... assessment for the year 1974-75 (accounting period ending on march 31, 1974), the income-tax officer invoked section 41(1) of the income-tax act, 1961, and included the refund obtained by the petitioner/assessee of rs. 1,17,459 in the total income of the assessee. the order of assessment is exhibit p-1 dated march 27, ..... 1979. the amount was so included notwithstanding the objections raised by the assessee. the assessee filed a revision petition before the second respondent, commissioner of income-tax ..... the revenue has placed reliance on section 41(1) of the income-tax act to include the refund obtained by the assessee in the assessable income for the year 1974-75. section 41(1) of the income-tax act is as follows :'41. profits chargeable to tax.--(1) where an allowance or deduction has been made in the .....

Aspinwall and Company Ltd. Vs. Inspecting Assistant Commissioner

Court : Kerala

..... the amalgamated company which was exclusively a plantation company engaged in rubber cultivation. the assessing officer under the ait act noticed that there is no provision similar to s.72a of the income tax act, 1961 in the ait act and the only provision which provides for carry forward and set off of unabsorbed loss is s.12 which ..... is as follows: 12. carrying forward of loss. -- where any person sustains a loss as a result of computation of agricultural income any year, the loss ..... amalgamating company namely, the assessee. two level appeals filed against the assessment were rejected and consequently assessee has filed this otc under s.78 of the kerala agricultural income tax act, 1991 before us. we have heard senior counsel sri. sarangan appearing along with adv. sri. p. balakrishnan for the assessee and government pleader sri. mohammed .....

S.N.V. Sadanam Trust Vs. Corporation of Cochin

Court : Kerala

Reported in : 2006(3)KLT663

..... workshops. on going through the objects of the petitioner as contained in the trust deed, i feel certificate of exemption issued by the income tax department under section 11 of the income tax act, 1961 on the ground that the petitioner is engaged in 'advancement of object to general public utility' which is also an item falling ..... within the definition of charitable purpose for the purpose of the income-tax act. even though charitable purpose is not defined under the act, it is clear from ..... building is put. in other words, building owned by charitable institutions are not entitled to exemption even if the entire income from buildingis used for charitable purpose as understood under the income-tax act. only such of the buildings which are used for the purposes referred to in various sub-sections of section 235 only .....

Shantilal C. Shah Vs. Commissioner of Income-tax

Court : Kerala

Reported in : (1988)68CTR(Ker)68; [1988]169ITR805(Ker)

..... of shantilal c. shah got partitioned with effect from december 1, 1976, and that the income of the erstwhile family is to be assessed ..... m. fathima beevi, j.1. the income-tax appellate tribunal, cochin bench, has, under section 256(1) of the income-tax act, 1961, referred the following question for our opinion :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the hindu undivided family ..... parties.5. where a joint family has ceased to exist by operation of law, the question of recording a partition as envisaged under section 171 of the income-tax act does not arise. that section applies only in cases where a hindu family has been assessed as hindu undivided family and a claim of partition is made subsequently. for .....

Kerala Financial Corporation Vs. Joint Commissioner of Income-tax and ...

Court : Kerala

Reported in : [2009]308ITR434(Ker)

..... the petitioner is challenging exhibit p-5 order whereunder the commissioner of income-tax dismissed the revision petition filed by the petitioner under section 264 of the income-tax act, 1961, challenging the validity of the income escaping assessment completed under section 147 of the act for the assessment year 1992-93. the assessee, a government of ..... kerala undertaking, filed original return for the assessment year on december 31, 1992, declaring a taxable income of rs. 50,48,761. this income included business income ..... was allowed by the officer by mistake, the assessing officer has no authority to rectify the mistake and bring to tax the escaped income by resort of section 147 of the income-tax act. in support of the petitioners contention, counsel has relied on the decision of the delhi high court in jindal .....

R. Bharathan Vs. Income Tax Officer

Court : Kerala

Reported in : (1989)79CTR(Ker)105; [1989]180ITR356(Ker)

..... excise range in trivan-drum district. he filed a return of income on december 6, 1983, before the income-tax officer, d-ward, quilon, offering an income of rs. 4,64,845. a search under section 132 of the income-tax act, 1961, hereinafter referred to as 'the act', was conducted at the arrack depot of the accused at ..... kazhakkoottam and at the residence of the accused on march 5, 1985. in the course of search, it is alleged that certain original books of accounts disclosing sale of arrack at different rates were found. according to the income-tax ..... 10. the next argument advanced by learned counsel appearing for the petitioner is that the penalty imposed by the income-tax officer under section 271(1)(c) of the act has been cancelled by the commissioner of income-tax (appeals), trivandrum,' by order dated october 31, 1988, and hence no prosecution for manipulation of accounts .....