Judgment Search Results Home > Cases Phrase: income tax act 1961 section 234d interest on excess refund Court: kolkata Page 1 of about 125 results (0.472 seconds)

Deputy Commissioner of Vs. Lipton India Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1996)57ITD397(Kol.)

..... courts in this country in numerous and countless decisions. any other contrary view would collide with the very scheme of the provisions relating to refund in the income-tax act, 1961. such interpretation appears to have an element of sharp edge considering the fact that the assessing officer has granted time limit of 30 days to the assessee ..... initiation of steps for recovery of such demand through other mode as prescribed in ii and iii schedule to the income-tax act, 1961.under the provisions of the income-tax act, a refund can arise only when tax has been paid earlier by an assessee in excess of what is due and payable legitimately. any mode of payment, whether by actual ..... due to the government is settled in course of litigation as provided in the hierarchy of appeal or other proceeding under the income-tax act, 1961. the rationale is quite plain. if a proceeding under the act concludes to the effect that the government as a result of the proceeding at a lower level took away more of the .....

Commissioner of Income-tax Vs. Bowater Corporation Limited

Court : Kolkata

Reported in : (1986)54CTR(Cal)338,[1986]161ITR280(Cal)

..... the refund due?2. whether, on the facts and in the circumstances of the case, and in view of the specific provision contained in section 244(2) of the income-tax act, 1961, the tribunal was justified in holding that the question whether section 244(1a) or section 244(2) would apply was of debatable nature and, therefore, outside the ambit ..... the tribunal held that the provisions of section 154 should not be invoked in the case.6. on an application by the revenue under section 256(1) of the income-tax act, 1961, the following questions have been referred as questions of law arising out of the order of the tribunal for the opinion of this court :' 1. whether, on the ..... ground that excess interest has been granted to the assessee and the mistake was apparent on the face of the record. proceedings were initiated under section 154 of the income-tax act, 1961. by an order passed on august 18, 1978, it was held that excess interest amounting to rs. 1,48,150 paid was refundable by the assessee.4. .....

Commissioner of Income Tax, Kolkata I Vs. Birla Corporation Limited

Court : Kolkata

..... in granting interest to the assessee u/s.244a of income tax act, 1961 on refund arising due to excess payment on self assessment of tax in view of section 244a(1)(b), read with the explanation thereto, of income tax act, 1961?. (ii) whether the explanation to section 244a(1)(b) of income tax act, 1961 bars payment of interest upon refund of excess payment on ..... selfassessment?. (iii) whether grant of interest to the assessee on refund arising due to excess payment on self assessment is contemplated by the income tax act, 1961?. (iv) whether in the facts and circumstances of the case the tribunal was justified in granting the aforesaid relief to the assessee on the ground that ..... 01.2016 judgment delivered on:2. d february, 2016. girish chandra gupta j.the revenue has come up in appeal u/s.260a of the income tax act, 1961 (hereinafter referred to as the act ) against a judgment and order dated 22nd march, 2004 passed by the itat a bench, kolkata in ita no.383 and 384 (kol) of .....

Commissioner of Income-tax Vs. A. Tosh and Sons (P.) Ltd.

Court : Kolkata

Reported in : (1987)59CTR(Cal)272,[1987]166ITR867(Cal)

..... issued as the assessee followed the mercantile system of accounting. the tribunal rejected the appeal of the revenue. on an application of the revenue under section 256(1) of the income-tax act, 1961, the tribunal has referredthe following questions, as questions of law arising out of its order, for the opinion of this court :'1. whether, on the facts and in the circumstances ..... calendar years 1971 and 1974. for the assessment year 1972-73, an assessment was made initially under section 143(3) of the income-tax act, 1961. the assessment was, however, reopened subsequently under section 147 of the act of 1961 on the ground that income arising from the receipt of rebate on excise duty and duty drawback and interest on deposits of such rebate and drawback had .....

Commissioner of Income Tax, Kolkata Ii Vs. Pilani Investment and Indu ...

Court : Kolkata

..... : 02.02.2016. girish chandra gupta j. the revenue has come up in appeal u/s.260a of the income tax act, 1961 (hereinafter referred to as the act ) against the judgment and order dated 20th march, 2009 passed by the income tax appellate tribunal (hereinafter referred to as the tribunal ) b bench, kolkata in ita no.1920 (kol.) of 2008 ..... itr513 do not make the assessee s case a fit case for imposition of penalty, under section 271(1)(c) of the income tax act, 1961. the facts of the assessee s case do not constitute a deliberate act of suppressio veri or suggestio falsi . 7. in view of the discussions made under paras 6(1) to 6 (v) ..... is no provision to that effect in the income tax act 1961 and income is to be taxed either on accrual or receipt basis?. iii) whether, the assesse in the instant case has furnished inaccurate particulars of income considering the judicial view that interest received on refund of income tax is liable to be taxed in the year of receipt notwithstanding the fact that .....

Hindusthan Motors Ltd. Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Reported in : (2003)(88)ECC296

..... after the further delay, it is liable to pay interest on the aforesaid second component.13.1 the aforesaid position of law, in the context of similar provisions of income tax act, 1961, is now directly covered by the recent judgment of hon'ble supreme court reported 2002 (254) itr 606 (cir v. narendra doshi). in the said judgment, the ..... to the date of issuance of the cheques by the appellant. in this connection he relies upon the madras high court's decision in the case of commissioner of income tax (tamil nadu-i) v. kumudam publications pvt. ltd. - 1981 itr volumn-128 617. it is seen that in the said case it was held by the ..... question for consideration was the following :- "whether, on the facts and the circumstances of the case,, the income tax appellate tribunal was justified in law in upholding the order of the deputy commissioner of income-tax (appeals), indore, directing to allow interest on interest, when the law points for grant of simple interest only." the hon' .....

Veena Kanoria Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD95(Kol.)

..... judicial member and the accountant member in regard to the following issue, i was nominated as third member by the honble president under section 255(4) of the income tax act, 1961 : "whether, on the facts and in the circumstances of the case, the payment of service charges of rs. 1,58,600 to shri sanjiv taneja and ..... in holding that excess of sale proceeds over purchase price or adjusted purchase price of shares was taxable capital gains under section 45 of the income tax act, 1961".(ii) "for that learned commissioner (appeals) was wrong in holding that sale of bonus shares resulted into taxable capital gains under section 45 of the ..... travelling expenses of rs. 55,044".(v) "for that learned commissioner (appeals) was wrong in confirming levy of interest under sections 234a, 234b and 234c of the income tax act".(vi) "for that learned commissioner (appeals) was wrong in not admitting additional grounds and confirming the assessment order and demand notice which were not in accordance with .....

Dcit, Spl. Range-6 Vs. A. Tosh and Sons Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD138(Kol.)

..... considered is whether the amounts received by way of excise duty rebated and custom duty drawback is chargeable to tax in the hands of the non-resident foreign buyers within the ambit of income-tax act, 1961. on reading the provisions of section 5 of the act, we find that section 5, both for residents in sub-section (1) and for non-residents in sub- ..... 97 have been filed by the assessee-company against the consolidated order dated 29-11-96 passed by the cit(a) arising out of the order dated 19-3-91 passed by the a.o. under section 163 or the income-tax act, 1961 (for short, the act) pertaining to the asst. year 1988-89.1.1 the other appeal bearing ita no. 811(cal)/97 ..... to reduce the cost of the two overseas buyers and the same, therefore, are not chargeable as income under income-tax act, 1961 has no merit and is fit to be rejected. in this view of the matter and considering the reasons given above, the order of the cit(a) is set aside and that of the a.o. is restored.18. in the result, .....

N. Chakravorti and Co. and anr. Vs. Union of India (Uoi) and ors.

Court : Kolkata

Reported in : [2002]257ITR10(Cal)

..... matter, when it is subject to appeal and revision under chapter xx of the income-tax act, 1961. relying on section 246(l)(k) of the said act, he points out that the order rejecting the claim of refund is appealable before the deputy commissioner of income-tax (appeals). as such, there being an alternative remedy, the writ jurisdiction cannot ..... to pass orders on that application since the relief provided under sections 236 and 237 in substance is identical. thus, the 1961 act provides for specific remedy by way of appeal before the deputy commissioner of income-tax (appeals), which can go into all the questions, which are now being raised before this court. in fact, the ..... a combined order cannot come under section 246(l)(k) of the 1961 act. therefore, this court should remit back the matter to an officer higher than the assessing authority as specified in section 246(l)(k) of the act being the deputy commissioner of income-tax (appeals) to whom it should be remitted.can the order be brought .....

Reliance Jute and Industries Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1981]127ITR842(Cal)

..... section 297. but there it is abundantly clear that only the machinery of assessment of escaped income was being contemplated. in the case of reopening either under section 34 of the indian i.t. act, 1922, or the i.t. act, 1961, it was never suggested that the substantive law would be anything different than the law prevalent ..... for the relevant assessment year. in this case to hold that section 214(1a) was merely made for excess income-tax paid for the purpose of recovery and ..... collection would make this fiction redundant in view of the provisions of section 229 of the act .....