Judgment Search Results Home > Cases Phrase: income tax act 1961 section 234d interest on excess refund Court: punjab and haryana Page 1 of about 65 results (0.143 seconds)

Commissioner of Income-tax, Ludhiana-II Vs. Avery Cycle Inds Ltd.

Court : Punjab and Haryana

..... filed a return declaring a business loss of rs. 1,03,32,832/- the return was processed under section 143 (1) of the income tax act, 1961 (hereinafter referred to as 'the act'). a statutory notice under section 143(2) of the act was served upon the assessee, followed by a detailed questionnaire dated 23.05.2001. after considering the material on record, the assessing officer ..... pay interest on excess refund admittedly received by the assessee. the assessing officer rightly levied interest but the cit(a) and the income tax appellate tribunal have both erred in deleting the interest. counsel for the assessee on the other hand, submits that section 234d of the act does not apply to the appellant and even it is held that section 234d of the .....

New India Assurance Company Ltd. Vs. State of Haryana and ors.

Court : Punjab and Haryana

Reported in : [2006]146STC223(P& H)

..... affected.10. while dealing with orders passed under identical provisions of section 241 of the income-tax act, 1961, this court in leader valves put. ltd. v. commissioner of income-tax , hansa agencies private ltd. v. commissioner of income-tax and suri sons v. commissioner of income-tax has held that where refund had become due to the assessee on annulment of its ..... assessment order, it was not right on the part of the income-tax officer to withhold the same under section 241 on c the ground that further proceeding challenging such annulment was pending before the higher forum.we ..... commissioner (appeals), faridabad which were dismissed. petitioner preferred further appeals before the sales tax tribunal, haryana, which were partially allowed. it was held that the petitioner was not a dealer under the central sales tax act, 1956 or haryana general sales tax act, 1973 as the case may be, so far as its activities of selling is .....

Present: Mr. Deepak Suri Advocate Vs. Unknown

Court : Punjab and Haryana

..... so set off) against business profits of financial year 12- 13 nor is eligible to be carried forward pursuant to scheme as per the provisions of the income tax act, 1961 and hence is nothing but a dead loss. . mr.jain appearing for the official liquidator submits that liabilities of transferor company pass on to the transferee ..... liquidator in his objections dated april 28, 2014 has reiterated the view of the chartered accountant. mr.suri points out that under section 72-a of the income tax act, 1961, carry forward and set off of accumulated losses and unabsorbed depreciation are allowed only if the following conditions are satisfied: - the transferor company should be ..... by the transferor company is not only incorrect and baseless but also does not reflect the correct understanding of the income tax laws. as per the provisions of section 71 of the income tax act, 1961, losses arising on the sale of short term capital assets i.e.short term capital loss ( stcl .) cannot be set off against .....

Commissioner of Income-tax Vs. Upper India Steel Manufacturing and Eng ...

Court : Punjab and Haryana

Reported in : [1996]218ITR179(P& H)

..... that court or before that court, it could not be said that a question of law arises within the meaning of section 256(1) or section 256(2) of the income-tax act, 1961.'13. this court in cit v. lakshmi printing co. :'it is the acknowledged position of law that the powers exercised under sub-section (2) of section 256 of the ..... tribunal, chandigarh bench, declined the prayer of the revenue to make a reference to this court under sub-section (1) of section 256 of the income-tax act, 1961.3. at the motion stage, learned counsel for the respondent submitted that in view of the full bench decision of the gujarat high court reported in bardolia textile mills v. ..... so filed by the department. the prayer for making a reference to this court was rejected in view of the judgment of this court in cit v. leader engineering works .7. according to section 214 of the income-tax act, the central government is liable to pay simple interest at the rate of 15 per cent. per annum on the amount by which the .....

Commissioner of Income-tax Vs. Leader Engineering Works

Court : Punjab and Haryana

Reported in : (1990)81CTR(P& H)222; [1989]178ITR529(P& H)

..... opinion of this court:'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the provisions of section 154 of the income-tax act, 1961, were applicable to this case ? 2. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the adjustment of advance ..... interest on the refunded amount under section 244(1a) of the income-tax act, 1961 (hereinafter called 'the act'), from the date the advance tax was adjusted pursuant to the assessment order till the date of refund. the income-tax officer declined the request but on appeal, the commissioner of income-tax (appeals) granted the prayer which wasaffirmed by the income-tax appellate tribunal, amritsar, and at the instance of the revenue .....

Dr. P.C. Khurana Vs. the Commissioner of Income-tax, Jalandhar and Ano ...

Court : Punjab and Haryana

..... of india for setting aside the order dated 16.3.1990 (annexure p-5) under section 264 of the income tax act, 1961 (in short the act) read with order dated 6.5.1991 (annexure p-12) under section 154 of the act passed by respondent no.1 and to cancel the levy of penal interest under sections 215 and 139(8) of ..... under the rules. on the strength of the judgment of himachal pradesh high court in commissioner of income-tax v. prakash nath, (2008) 306 itr 1 (hp), it was submitted that the issuance of notice under section 154(3) of the act was not essential in the fact and that the interest has been rightly levied under sections 215 ..... therefore, the order under section 154 of the act was bad. support was sought by the learned counsel for the assessee from the following judgments:- i. commissioner of income tax v. s.l. chopra, (1989) 179 itr 65 (pandh); ii. commissioner of income tax v. inderjeet bedi, (2002) 257 itr 671 (pandh); iii. commissioner of income tax v. g.b. transpors, (1985) 155 itr .....

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 .....

Commissioner of Income-tax Vs. Satya Narain

Court : Punjab and Haryana

Reported in : [1998]229ITR477(P& H)

..... law has been referred at the instance of the commissioner of income-tax by the income-tax appellate tribunal (for short 'the tribunal'), under section 256(1) of the income-tax act, 1961, (for short 'the act') : ' whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal erred in law in holding that the assessment order passed ..... by the income-tax officer for the assessment year 1975-76 on september 16, 1978, ..... so, then the proposed variation would be below rs. 1,00,000 and, consequently, section 144b of the act would not be attracted in the case of the assessee. 6. the commissioner of income-tax also did not accept the assessee's second plea that the assessing officer, by resorting to section 144b, .....

inder Raj Malik and ors. Vs. Jayanti Films (India) Pvt. Ltd. and ors.

Court : Punjab and Haryana

Reported in : (1993)105PLR424

..... aside the sale. but it is not even the case of the plaintiffs that they had moved such an application.18. rule 9 of the schedule ii of the income tax act. 1961 provides a general bar to the jurisdiction of the civil court, save where fraud is alleged. it reads as under:- '9 except as otherwise expressly provided in this ..... now estopped from taking the same in the civil court.4. on behalf of the income tax authorities it was averred that in view of rule 11 of the schedule ii of the income tax act, 1961, the suits were not maintainable. the plaintiffs had statutory right to file objections under income tax act before approaching the civil court. the property in dispute was owned by huf. janak ..... on 28.3.1977, within less than 30 days, and therefore, provisions of rule 55 of the schedule ii of the act have been violated; and c) that provisions of rule 57 of schedule ii of the income tax act, 1961 which are parimateria with order 21 rules 84 and 85 c.p.c were not complied with in as much as the .....

S. Basant Singh (Decd.) and ors. (Through Lrs) Vs. Tax Recovery Office ...

Court : Punjab and Haryana

Reported in : [1998]233ITR508(P& H); (1997)117PLR700

..... company. in the meantime, the company went into voluntary liquidation. it is also not disputed that during the winding up process of the company, the income-tax act, 1961, came into force with effect from april 1, 1962. the appellants, who were directors of the company, were proceeded against under the provisions of section 179 ..... that on the dissolution of a partnership firm, though the partners are jointly and severally liable for the tax dues of the firm in view of the provisions of section 189(3) of the income-tax act, 1961, the tax liability of the firm should be realised by proceeding against the properties of the firm. the properties of ..... private company in liquidation. the directors of the company filed their reply before the income-tax authorities, wherein they contested the liability to pay the arrears of income-tax on the ground that the company was already under liquidation and at that time the income-tax act, 1961, had not come into force and, as such, they were not liable jointly .....