Judgment Search Results Home > Cases Phrase: income tax act 1961 section 168 executors Court: guwahati Page 6 of about 794 results (0.069 seconds)

Bongaigaon Refinery and Petrochemicals Ltd. Vs. Union of India (Uoi) a ...

Court : Guwahati

..... books of account, was more appropriate than the turnover basis. the petitioner thereafter was served with the notice under section 263 of the income-tax act, 1961, issued by the commissioner of income-tax, ne region, shillong, mentioning that the assessing officer had allowed excess deduction to it under the aforementioned provision thereby rendering the assessment erroneous ..... authorises him to issue such type of direction unless the case is covered by sections 80hh(6)/(7) and 80-i(8)/(9) of the income-tax act, 1961. nowhere the learned commissioner in his order under section 263 has stated under which provision of law directions to bifurcate the profit in proportion to turnover ..... it becomes time-barred had not applied his mind properly. after going through the directions issued by the learned commissioner of income-tax, n.e.r., shillong, under section 263 of the income-tax act, 1961, we are of the opinion that these need modification as there is no provision under sections 80hh and 80-i .....

Bishnu Talkies Vs. Commissioner of Income-tax

Court : Guwahati

..... in i.t.a. nos. 446, 447 448 and 449 (gau) of 1992 passed by the income-tax tribunal, guwahati bench at guwahati. the tribunal, on application by the assessee under section 256(1) of the income-tax act, 1961, referred the following questions before this court:1. whether, on the facts and in the circumstances of ..... the case, the learned income-tax appellate tribunal erred in holding that the report of the departmental valuer for determination of ..... with the explanation added the differential value in the respective assessment years under reference to the total income of the assessee under section 69 of the act. the assessee preferred an appeal before the commissioner of income-tax (appeals) challenging the valuation report on the ground that the books of account were maintained properly .....

J.K. Baruah Vs. Commissioner of Income-tax

Court : Guwahati

lahiri, j. 1. this is a reference made by the income-tax appellate tribunal, gauhati bench, gauhati, under section 256(2) of the i.t. act, 1961, for short 'the act'. 2. in compliance with the direction of the high court made in civil rule 1(m) of 197-5, the learned tribunal drew up a statement of the ..... formulated for determination. we extract the question : 'whether, on the facts and in the circumstances of the case, there was any material or basis for the income-tax appellate tribunal to hold that the penal provisions of the act under section 271(1)(a) were attracted ?' the reference is from the order of the tribunal passed under section 254 of 'the ..... fit case in which the assessee could have gone to the commissioner of income-fax under s, 273a of the act, asking for a- reduction or waiver of the penalty. we, as desired by the learned counsel for the assessee, allowed the assessee to approach the commissioner of income-tax and to get the relief, if allowable under the law. however, we .....

Commissioner of Wealth-tax Vs. Ramgopal Mahesh Kumar (Huf) and anr.

Court : Guwahati

..... as assets in the balance-sheet shall not be treated as assets, namely :-- (a) any amount paid as advance tax under section 18a of the indian income-tax act, 1922 (11 of 1922), or under section 210 of the income-tax act, 1961 (43 of 1961) ; (b) any amount shown in the balance-sheet including the debit balance of the profit and loss account or ..... explanation ii(i)(a) and ii(ii)(e). by virtue of explanation ii(i)(a), for the purpose of the rule, any amount paid as advance tax under section 210 of the income-tax act, 1961, shown as an asset in the balance-sheet shall not be treated as an asset. according to explanation ii(ii)(e), any amount representing provision for ..... taxation [other than the amount referred to in clause (i)(a)] to the extent of the excess over the tax payable with reference to the book .....

Indian Oil Corporation Ltd. and ors. Vs. State of Assam and ors.

Court : Guwahati

..... chartered accountants, guwahati, the provisions were incorporated after proper examination of the matter from time to time and also on consideration of similar provisions under the indian income-tax act. the provisions were brought on statute in the greater interest of the state and its revenue. it is further submitted that there is no basis in ..... imposed on the dealer to get their accounts audited twice, one for the purpose of income-tax act and the other for the purpose of sales tax act. i find sufficient force in the above submission as the proviso (ii) of the income-tax act provided that if the accounts are already audited under any other provisions of law, no ..... to take out any transaction from the purview of the central sales tax act.14. the respondent-state have come up with the plea that the provisions of section 10a of the act are in line with the provision of income-tax act contained in section 44ab of the income-tax act, which reads as follows :'44ab. audit of accounts of certain .....

Radha Krishna Jalan Vs. Commissioner of Income Tax

Court : Guwahati

..... person, such person is to be deemed to be a partner in the main partnership or not ?(ii) whether for the purpose of the it act, 1961, the income diverted by overriding title ceased to be the income of, the partner as intended under section 10(2a) ?12. to appreciate the above contention, we may refer to the scheme of the ..... the parent partnership as exempt under section 10(2a) of the it act, 1961. the ao denied the claim of exemption and assessed the income of the appellant at rs. 2,89,09,160. the appellant firm preferred an appeal against the said order to the cit(a). the cit(a) allowed the appeal permitting exemption under section 10(2a). the revenue ..... 16th july, 1999, in response to a notice under section 148 of the it act, 1961, showing the assessable income as nil. the assessee claimed exemption under section 10(2a) of the act. the assessment was completed on 9th june, 2000, under section 143(3)/147 of the act. the income was assessed at rs. 1,83,13,990. the exemption and deduction .....

Gangabani Mercantile and Finance (P) Ltd. and anr. Vs. Cit and ors.

Court : Guwahati

Reported in : [2004]267ITR118(Gauhati)

..... i shall be constrained to take recovery measures as per various provisions of sections 222 to 232 of the income tax act, 1961, and also as per second schedule to the income tax act, 1961.hope you will co-operate in the matter.yours faithfully,(sd) s. r. dutta,tax recovery officer-4, guwahati,'3. the challenge has been made on the ground that under section 225/226 of ..... the income tax act, the tax recovery officer is the competent authority to grant instalments and he being a quasi-judicial authority, he cannot .....

Smt. Dipti Doley Basumatary, Vs. Union of India (UOi) and Ors.

Court : Guwahati

Reported in : (2007)211CTR(Gau)127,2007(3)GLT348,[2007]290ITR498(Gauhati)

..... 20 of the sixth schedule to the constitution. precisely, the dispute raised by the writ petitioners centres around the scope and ambit of section 10(26) of the income-tax act, 1961, vis-a-vis the constitutional provisions. before the question is addressed, we may recapitulate the factual background of each case in brief.3. writ petition (c) no ..... sixth schedule. therefore, by virtue of their status as members of the scheduled tribe, they are entitled to the benefit of exemption under section 10(26) of the income-tax act. mr. s.p. sharma, learned counsel for the other group of writ petitioners also advanced identical arguments.10. mr. u. bhuyan, learned counsel for the revenue, ..... (s) or by way of dividend or interest on securities.9. there is no dispute with regard to the above proposition culled out from the provisions of the income-tax act read with the definition of scheduled tribes in clause (25) of article 366 of the constitution. dr. a.k. saraf, learned senior counsel argued that the .....

Bhikamchand Betala and Sons Vs. Income-tax Officer

Court : Guwahati

..... 1995-96.2. the facts of the present appeal may be briefly stated at the very outset.the appellant is an assessee under the income-tax act, 1961 (for short 'the act'), assessed to tax by the income-tax officer, ward 1(5), guwahati. the status of the assessee is that of hindu undivided family and the assessment year under consideration is ..... sc) , the apex court held that a transactions cannot be described as a 'speculative transaction' within the meaning of sub-section (5) of section 43 of the income-tax act, 1961, where there is breach of contract and on a dispute between the parties damages are a, warded as compensation by an arbitration award.14. there is no dispute with ..... as well as the high courts, held that a transaction cannot be described as a 'speculative transaction' within the meaning of section 43(5) of the income-tax act, 1961, where there is a breach of the contract and on a dispute between the parties damages are awarded as compensation. the court further held that in deciding .....

Murlidhar Jalan Vs. Income-tax Officer, Dibrugarh.

Court : Guwahati

..... issued under section 46 (5a) of the income-tax act.the petitioner carries on business and is regularly assessed to income-tax under the income-tax act, hereinafter called the act. under section 5 (4) of this taxation on income (investigation commissioner) act, 1947, the case of the petitioner was referred to the income-tax investigation commission. an application was then made ..... and subsidiary matters which fairly and reasonably can be said to be comprehended in it. the income-tax act is an act relating to taxes on income other than agricultural income. the provision relating to settlement of the amount of tax which escaped assessment, and the provision for the mode of its recovery are matters which ..... under chapter vi started under section 46 (5a) are illegal inasmuch as there was no proper notice of demand under section 29 of the income-tax act which was condition precedent for the initiation of the proceedings under section 46.in this connection it was urged that the liability in respect .....