Judgment Search Results Home > Cases Phrase: income tax act 1961 section 214 interest payable by government Page 6 of about 26,856 results (1.096 seconds)

Moheema Ltd. (No. 2) Vs. Commissioner of Income-tax and ors.

Court : Guwahati

..... its assessment for the year 1977-78 was completed on march 22, 1979, under section 143(3) of the income-tax act, 1961 (for short 'the act'), and a sum of rs. 813 was found refundable on account of excess payment of advance tax. a rectification proceeding was subsequently initiated. this was relatable to the loss of the previous year which was not set ..... courts of the country right from 1957 which had dealt with the present question in the context of the indian income-tax act, 1922. the first decision which is cited in this connection is that of chagla c. j. in sarangpur cotton . v. cit : [1957]31itr698(bom) . it was held in this division bench decision that the mere fact that an ..... stated above, we are of the opinion that the expression 'regular assessment' in section 214(1) of the act has to be confined to the first order of assessment passed by the income-tax officer under section 143(1) of the act as modified by the order, if any, passed under section 143(3). in this view of the matter, .....

Commissioner of Income-tax Vs. Prahlad Maliram

Court : Rajasthan

Reported in : [2002]258ITR97(Raj)

..... -section (1) shall be payable to him in respect of the amount so found to be in excess.'7. sub-section (1a) of section 244 of the income-tax act, 1961, has been inserted with effect from october 1, 1975. before we go into the facts of the case in hand, we would like to refer to some observations ..... sub-section (1a) of section 244 was not forming the part of the income-tax act, 1961, but even the income-tax act, 1961, was not in existence, therefore, there is no question of payment of interest under section 244(1a) of the act, on the excess amount of the tax paid much before april 1, 1975. the assessee is not entitled for interest ..... tribunal, jaipur, it was argued that when the interest was allowed to the assessee under section 244(1a) of the income-tax act, 1961, the interest could not have been withdrawn in an order under section 154 of the income-tax act, 1961. this issue has been considered by the delhi high court in the cases of national agricultural co-operative marketing federation of .....

Ganapathy Engineering Mfrs. (P.) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1982)1ITD104(Mad.)

..... rs. 2,262 withdrawn in the regular assessment) in the original assessment by the ito under section 214 of the income-tax act, 1961 ("the act"). the ito, while completing the assessment under section 141a of the act, had treated the payment of tax of rs. 56,265 to be made by the assessee on the basis of the estimate filed by it on ..... may at his option send to the ito an estimate of his income and the advance tax payable in accordance therewith and pay the advance tax. under section 212(3) any person who has not previously been assessed by way of regular assessment under the 1961 act or the 1922 act shall, in each financial year before the date on which the ..... last installment of advance tax is due from him under section 211(1), send to the ito an estimate of his current income on the advance tax payable thereon if such current income exceeds the limit specified in section .....

A. Sethumadhavan Vs. Commissioner of Income-tax and anr.

Court : Kerala

Reported in : (1980)16CTR(Ker)376; [1980]122ITR587(Ker)

..... dated august 5, 1977, passed by the commissioner of income-tax under section 264 of the i.t. act, 1961, is impugned by the petitioner. the commissioner rejected the petitioner's claim for interest under section 214 of the act in respect of the third instalment of advance tax paid by the petitioner on the ground that the ..... instalment was paid subsequent to the due date.2. in respect of the assessment year 1976-77, the petitioner was required to pay advance tax ..... shall, at any time before the date on which the last instalment of advance tax is due from him, send to the income-tax officer an estimate of--(i) the current income, and (ii) the advance-tax payable by him on the current income calculated in the manner laid down in section 209, and shall pay such amount .....

Cesc Ltd. Vs. Commissioner of Income-tax

Court : Supreme Court of India

Reported in : (1998)150CTR(SC)607; [1998]233ITR50(SC); (2000)10SCC513

..... the assets comprising service lines acquired prior to april 1, 1961, which written down value had been correctly arrived at under the indian income-tax act, 1922, was required for the assessment years 1968-69 and 1969-70 by virtue of the definition of 'actual cost' introduced by the income-tax act, 1961, with effect from the assessment year 1962-63 ?(iv ..... ) whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income-tax officer was justified in withdrawing the interest of rs. 14,64,130 ..... direction given by the higher authority will not be a regular assessment. the higher authority may direct the income-tax officer to modify his order. the higher authority may also set aside the order and direct the income-tax officer to pass a fresh order of assessment. in neither of these two cases will the consequential .....

Commissioner of Income-tax Vs. Goodyear India Ltd.

Court : Delhi

Reported in : (2001)168CTR(Del)407; [2001]249ITR527(Delhi)

..... at the instance of the revenue, the following question has been referred for the opinion of this court by the income-tax appellate tribunal, new delhi (in short, the 'tribunal'), under section 256(1) of the income-tax act, 1961 (in short 'the act') :-'whether, on the facts and in the circumstances of the case, the tribunal is right in holding that ..... is entitled to interest under section 244 on the amount of interest amounting to rs. 1,90,499 payable under section 214 of the income-tax act, 1961 ?'2. the dispute relates to the assessment year 1967-68.3. the factual position which is almost undisputed is essentially as follows:the assessed had paid advance ..... refund in cash but adjustedit against the demand for the assessment year 1968-69. the assessed claimed interest on the advance tax paid by it under section 214 of the act. this was partly denied by the income-tax officer vide his order dated august 16, 1974. the assessed went in appeal to the appellate assistant commissioner (in, short .....

Commissioner of Income-tax Vs. Rane Madras Ltd.

Court : Chennai

Reported in : [1998]231ITR929(Mad)

..... opinion of this court under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the payment of tax not in excess of 1/3rd of the tax demanded under section 210 should be considered to be an advance tax payment made under section 212(3a) and interest under ..... section 212(3a) or under section 210. in this view, it held that the assessee would be entitled to interest under section 210 on the refund of excess tax. the tribunal further observed that there was no provision in the income-tax act for making a deposit of any amount and the payment can be construed as the payment of third instalment of advance .....

Trustees of H.E.H. Nizam's Religious Endowment Trust Vs. Income-tax Of ...

Court : Andhra Pradesh

Reported in : [1981]131ITR239(AP)

..... of most income-tax acts is that the word 'assessment' is used as meaning sometimes the computation of income, sometimes the determination of the amount of tax payable and sometimes the whole procedure laid down in the act for imposing liabilities on the taxpayer.27. this wide connotation of the word 'assessment' was reiterated by the supreme court in c. a. abraham v. ito : [1961]41itr425(sc ..... into account all relevant material which the income-tax officer has gathered, shall make the assessment of the total income or loss to the best of his judgment and determine the sum payable by the assessee or refundable to the assessee on the basis of such assessment.' section 244 is a newly introduced provision in the 1961 act, and there was no corresponding provision thereto .....

Poddar Projects Limited Vs. Assistant Commissioner of Income-tax

Court : Kolkata

Reported in : (2000)158CTR(Cal)271,[1999]240ITR572(Cal)

..... requires interpretation : 'whether, on the facts and in the circumstances of the case and on a judicious interpretation of section 244(1a) of the income-tax act, 1961, the income-tax appellate tribunal was justified in law in holding that the appellant was not entitled to get 'interest on interest' on the sum paid in pursuance ..... the assessment year 1988-89 ?' 2. before the commissioner of income tax (appeals), the assessee has raised an additional ground and claimed that the assessec is entitled to 'interest on interest' payable under section 244(1a) of the act. before the commissioner of income-tax (appeals), reliance was placed on the decision of the gujarat high ..... court in d. ]. works v. deputy cit : [1992]195itr227(guj) . admittedly, that decision is on the interest payable under section214( .....

Punjab Small Industries and Export Corpn. Ltd. Vs. Inspecting Assistan ...

Court : Punjab and Haryana

Reported in : (2004)192CTR(P& H)396; [2005]278ITR92(P& H)

..... it act, 1961 (for brevity, 'the act'), could be denied to the assessee-corporation who had failed to pay the instalment of advance tax in accordance with the date specified under section 211 of the act.2. in order to put the aforementioned question in its proper perspective, few facts would be necessary. the assessee-corporation was assessed to the income-tax ..... 1976. it is thus obvious that second instalment was paid after the date specified in section 210(1) of the act.3. the assessee-corporation filed its return of income-tax under section 139(1) of the act on 29th june, 1977, declaring a loss of rs. 6,38,480 for the assessment year in question. subsequently ..... a request was made to the inspecting asstt. commissioner of income-tax (asst.) (for brevity, 'the assessing authority') for refund of the entire amount of tax of rs. 2,75,000 which was paid as advance tax after making provisional assessment under section 141a of the act. the assessee-corporation received a pay order for an amount of .....