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Elphinstone Spinning and Weaving Mills Co. Ltd. Vs. Commissioner of In ...

Court : Mumbai

Reported in : (1956)58BOMLR32; [1955]28ITR811(Bom)

..... which is the subject-matter of interpretation upon this reference : 'provided that in the case of a company which, in respect of its profits liable to tax under the income-tax act for the year ending on the 31st day of march, 1952, has made the prescribed arrangements for the declaration and payment within the territory of india excluding ..... which accrued to it in the year preceding to the previous year and there is no provision in the income-tax act for taxing income of this character. the finance act could have provided that in the income of the previous year certain income which was not made or not accrued in that particular year should be included, but we do not ..... urged by the advocate-general may be noticed. one is that in the proviso the expression '......a company which, in respect of its profits liable to tax under the income-tax act for the year ending on the 31st day of march, 1952, has made the prescribed arrangements for the declaration and payment within the territory of india .....

Sundaram Industries Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : (1986)53CTR(Mad)51; [1986]159ITR646(Mad)

..... on the facts and in the circumstances of the case, the sum of rs. 52,765, provision for surtax, was a proper deduction in computing the total income under the income-tax act, 1961, for the year under appeal ?' 34. in view of our decision rendered just now in t.c. no. 636 of 1978 in which we have also ..... definition of 'chargeable profits' and the charging provision, the subject-matter of the charge on which surtax is levied is clearly the total income of an assessee computed under the income-tax act, 1961. that income has to be adjusted in accordance with the provisions of the first schedule. in the first schedule, a procedure is laid down for ..... levied is specified in the third schedule. chargeable profits are defined in section 2(5) as follows : ''chargeable profits' means the total income of an assessee computed under the income-tax act, 1961 (xliii of 1961), for any previous year or years, as the case may be, and adjusted in accordance with the provisions of the first schedule;' 19 .....

Rajam Pictures Circuit and ors. Vs. Commissioner of Income-tax and ors ...

Court : Chennai

Reported in : (1999)156CTR(Mad)392; [2000]241ITR735(Mad)

..... balasubramanian, j. 1. the question involved in the batch of writ petitions is whether the demand of interest under section 220(2) of the income-tax act, 1961 (hereinafter referred to as 'the income-tax act'), in the certificate of intimation issued under section 90(1) of the kar vivad samadhan scheme, 1998 (hereinafter to be referred to as ' ..... of interest under sections 139(8) and 217 in other demands made under other provisions of the income-tax act, 1961, and the petitioners are challenging only the demand of interest under section 220(2) of the income-tax act in the certificate of intimation on the ground that under the samadhan scheme, the respondent has no ..... the benefit of the samadhan scheme and once he claims the benefit under the samadhan scheme the scheme will operate notwithstanding the provisions contained in the income-tax act. therefore, the contention that the petitioner has lost the right of waiver of interest is not a material consideration. if the petitioners with open .....

P.V. Rajgopal and ors. Vs. Union of India and ors.

Court : Andhra Pradesh

Reported in : 1998(4)ALD268; [1998]233ITR678(AP)

..... by claiming that the interest on reimbursement is not a perquisite and prays for a declaration that the said letter is illegal and ultra vires the provisions of the income-tax act.3. writ petition no.26797/1997 has been filed by the trade union of the workers of bharat heavy electricals limited. it is stated that an order ..... was not causa causans of the payment, and therefore, the compensation was taxable. the context, however, is the provisions of section 156(2) of the income-tax act 1952 in england where the tax is charged on the profits and gains arising from any office or employment. but the present context is quite different as can be seen by a plain ..... in order to see whether there is any such lacuna, we have to consider the scheme of the income-tax act with reference to the deduction of tax at source. the collection and recovery of tax is governed by chapter xvii of the income tax act by way of deduction of tax at source and advance payment.33. sections 192 - 194, 194-a, b, bb, c, d .....

Asstt. Cit Vs. Balarampur Chini Mills Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2007)109ITD146(Kol.)

..... circumstances, the learned commissioner (appeals) erred in law in directing to allow deferred tax to determine the book profit under section 115jb of the income tax act, 1961, when the deferred tax is a provision of tax effect of the differences between taxable income and accounting income, and so is not allowable under section 115jb of the income tax act, 1961 in determining book profit under that section. (3) that on the fact ..... revised computation filed during assessment. (5) that on the fact and in the circumstances, the learned commissioner (appeals) erred in directing to allow tax paid under section 115-o of the income tax act, 1961 on distributed dividend to determine book profit under section 115jb of the income tax act, 1961 citing cbdt's circular no. 8 dated 29-8-2005, when the said circular relates to fringe benefit .....

Addl. Commissioner of Income Tax Vs. Bareilly Corporation Bank Ltd.

Court : Allahabad

Reported in : (1978)7CTR(All)347

..... so far as the amount deducted at source in addition to rs. 38,162/- is concerned, it may suffice to mention that this was admittedly not advance tax. under s. 214 of the income-tax act interest at the rate of 9 per cent per annum is payable on the amount by which the aggregate sum of any instalments of advance ..... source. the deposit of the entire amount of rs. 38,162/- by the assessee by way of advance tax was refundable along with interest under s. 214 of the income-tax act inasmuch as the said amount exceeded the amount of the tax determined on regular assessment. in our opinion, the tribunal rightly found that the assessee was entitled to the ..... tax paid during any financial year exceeds the amount of tax determined in regular assessment. the expression 'advance tax' has been defined in s. 207(2) of the income-tax act. this definition does not take within its ambit the amount deducted at source. under s. .....

Gujarat Alkalies and Chemicals Ltd. Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)77TTJ(Ahd.)304

..... their claim the company submitted audit report in form no. 10ccac along with the annexure-a as required under the provisions of section 80hhc(4) of the income tax act, 1961. in the audit report total turnover has been worked out at rs. 3,17,19,19,748 as under : the learned counsel invited our attention to ..... be construed in the commercial sense as inclusive of taxes levied like sales-tax and excise duty, etc.we may look at the matter from another angle also. the sales-tax and excise duty, etc. constitute business expenditure and section 43b has been specifically enacted in the income tax act, 1961, by the legislature whereby deduction for such levies are ..... to be allowed on actual payment. therefore, it is an admitted position that the sales-tax and excise duty are not merely balance-sheet items as claimed by the learned .....

Tata Chemicals Ltd. Vs. Deputy Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... assessee', and the words 'any amount' were interpreted by hon'ble madras high court in cit v. needle industries (p) ltd. ...the expression 'amount' in the earlier part of section 244(1a) of the income tax act, 1961, would refer to not only the tax but also the interest, and the expression 'amount' is a neutral expression and it ..... cannot be limited to the tax paid in pursuance of the order of assessment. the expression 'tax or penalty' found in the later part of section 244 ..... . thereafter, the procedure in appeal as in a regular appeal filed under section 246/246a of the income tax act and also under the provisions of section 248/249 of the income tax act is same as provided in section 250 of the income tax act. in the present facts and circumstances of the case, the commissioner (appeals) granted relief to the .....

Rbf Rig Corpn. Lic (Rbfrc) as Agent Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)297ITR228(Delhi)

..... an employee of ballarpur, the amount could not be brought under the head "salary " within the purview of section 17 of the income-tax act, 1961, and had necessarily to be placed under section 56(1), viz., under the head "income from other sources" (see p.487c).this case in our considered view has no application to the facts of the case.50. ..... explaining provisions in the finance bill, 2002: 64.1 under the existing provisions of section 192 of the income-tax act, 1961, an employer is required to deduct tax at source on income under the head 'salaries', inclusive of the value of perquisites. in case, such tax is paid by an employer on behalf of an employee, the same being in the nature of an ..... by the employer shall not be treated as an allowable expenditure in the hands of the employer under section 40 of the income-tax act, 1961. 64.5 the amendments will take effect from ist april, 2003 and will, accordingly, apply in relation to the assessment year 2003-04 and subsequent years. 64.6 .....

Cit Vs. Market Committee

Court : Punjab and Haryana

Reported in : [2007]294ITR563(P& H)

..... 11. the market committee, dhariwal, submitted an application in form 10a, under section 12a of the income tax act, 1961 (hereinafter referred to as the income tax act) on 6-8-2003, seeking registration, under section 12aa of the income tax act. in the aforesaid application, the market committee expressly certified that the objects of the market committee, ..... of a voluntary contribution, and as such, there is no question of the applicability of section 12a or 12aa of the income tax act. section' 12 of the income tax act is being extracted hereunder:section 12(1) any voluntary contriburions received by a trust created wholly for charitable or religious purposes or ..... and unequivocal terms contended, that the registration sought by the market committee, under reference, under section 12a of the income tax act for tax exemption, has been claimed under section 11 of the income tax act, and not under section 12 thereof. it is, therefore, the contention of learned counsel for the respondents, that .....