Court : Gujarat
Reported in : [1985]151ITR389(Guj)
..... made by the petitioner for such payment of interest was declined by letter ext. 'e' which mentions that : 'it is not permissible to recompute interest under section 214 of the income-tax act, 1961, with reference to appellate orders.' the assessee had pointed out in his letter that the calcutta high court had in the decision in chloride india ltd. v ..... 18a made a departure by obliging payment of tax by instalments in respect of income of the year in which it is earned. section 18a was a very elaborate section. when the i.t. act, 1961, substituted the earlier act, the provision relating to payment of advance tax in s. 18a found its corresponding provisions in the new act with, of course, many variations in s. 207 .....
Tag this Judgment!Court : Rajasthan
Reported in : [1996]217ITR404(Raj); 1995(2)WLN222
..... to 18-9-1979, under section 244(1a).8,0475. against the above order, the assessee filed a revision under section 264 of the income-tax act, 1961, before the commissioner of income-tax where also part of the claim of the assessee was allowed and it was directedthat the interest under section 244(1a) is separately admissible with ..... against the order dated april 15, 1982, passed by the commissioner of income- tax under section 264 of the income-tax act, 1961.2. the brief facts of the case are that the petitioner-company paid advance tax amounting to rs. 1,79,200 under section 210 of the income-tax act, 1961, as under :rs.(i) 38,500on 14-6-1976(ii) 38 ..... the due dates but within -the financial year.19. if the history of the act, chapter xvii-c of the income-tax act, 1961, is seen which contains provisions relating to advance payment of tax, the said chapter provides liability for payment of advance tax, provision for payment of interest by the central government and provision of levy of .....
Tag this Judgment!Court : Chennai
Reported in : (1998)147CTR(Mad)514; [1998]233ITR370(Mad)
..... was right in holding that interest under section 244(1a) should be granted even in respect of the refund of interest levied under sections 139(8) and 215 of the income-tax act, 1961 2. whether the appellate tribunal is right in holding that interest under section 244(1a) should be allowed on the refund of rs. 48,228 being interest under section ..... reference raises an interesting question on the interpretation of section 244(la) of the income-tax act, 1961, (hereinafter to be referred to as 'the act'). 2. the assessee is a company. the original assessment for the assessment year 1974-75 was completed on august 29, 1977, and the order of assessment was the subject ..... 46,601interestunder section 244 from 1-5-1980 to 31-1-1981 4,193totalamount refunded 50,7943. the order of the income-tax officer passed on february 16, 1981, was subsequently revised by the income-tax officer under section 154 of the act on april 6, 1981. though that order does not find a place in the typed set of papers, it is .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2006)102TTJ(Mum.)53
..... order--finding that subsidiary and parent company carried .on same business--capital borrowed for purposes of business of subsidiary--deductible--income-tax act, 1961, section 36(1)(iii) a careful reading of section 260a(6) of the it act, 1961, shows that the high court can decide only that question which was raised but not determined by the tribunal. ..... , 1998,- such unaudited accounts have to be submitted on quarterly basis instead of half-yearly basis.however, for income-tax purposes, the it act, 1961 requires a separate compilation of final account for the previous year prescribed under the it act which ends on the 31st of march of the previous year. this was made mandatory from the asst. yr ..... called for the printed annual reports for the years ended 30th june, 1998 and 30th june, 1999, i.e., the companies act accounts and on comparison of the companies act accounts and the income-tax accounts found the following: asst. yr. 1998-99: the printed p&l a/c for the year ended 30th june, 1998 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2008)113TTJ(Mum.)227
..... matter was carried before the first appellate authority, wherein various contentions including the contentions raised before the ao were reiterated. after considering the same, the cit(a) observed that as per section 145(1) of the it act, 1961, income-tax chargeable under the head 'profits and gains of business or profession' is to be computed in accordance with either cash or mercantile system of accounting ..... said asst. yr. on 30th nov., 1998 in which return a total income of rs. 21,10,15,737 was declared under section 115ja of the it act, 1961, as normal computation of income was 'nil' after set off of past losses. after adjusting the advance tax of rs. 8,50,00,000, the tax deducted at source of rs. 3,89,32,198, the mat credit .....
Tag this Judgment!Court : Mumbai
Reported in : (1985)47CTR(Bom)171; [1986]157ITR177(Bom); [1985]20TAXMAN407(Bom)
..... appellate authority, the assessee would be entitled to interest in both the cases. we may point out that there are only two types of assessments contemplated under the said act, unlike the income-tax act, 1961, for instance, where there is a provision also for self-assessment; one type of assessment is provisional assessment and the other is regular assessment and the term 'regular assessment ..... (bom) , to which we have already referred earlier. in this case, it was held that the term 'regular assessment' in section 214(1) of the income-tax act, 1961, means the first order of regular assessment passed by the income-tax officer and not the last operative order of regular assessment at any given point of time passed as a result of appellate or revisional proceedings .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (2009)23VST573(AP)
..... affect the revenue:in consolidated petrotech industries ltd. (supra) the learned bench of the gujarat high court (in a case arising under section 241 of the income tax act 1961) held that the existence of the structural conditions does not relieve the assessing authority from forming an opinion that the grant of refund is likely to adversely ..... would otherwise have been the sole discretion of the assessing authority. the provisions of section 33c are in pari materia borrowed from section 241 of the income tax act 1961 (omitted by the finance act 2001, w.e.f. 1.1.2001). another legislative intendment of the prescription (that the order must be preceded by the approval of higher ..... court considered the issue whether an order withholding refund is invalid for being a 'non-speaking' order. an order under section 143(1)(a) of the income tax act, 1961 was passed computing the refund payable to the petitioner at rs. 11,49,345-00. in the same order it was recorded: with the previous approval of .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)25ITD193(Delhi)
..... that though the ccs could not be treated as a mere bounty or gift, it was not a revenue receipt taxable under section 28(iv) of the income-tax act, 1961 taut only a capital receipt given to improve and build up its capital base and to remove the inadequacies in its export apparatus or infrastructure. we agree ..... or in a different state, in the absence of any contrary decision of any other high court. the appellate tribunal is not an income-tax authority as defined in section 116 of the income-tax act, 1961. both the parties are, therefore, free to canvass their respective viewpoints before the special bench regarding the ratio decidendi of the various decisions ..... of two benches of the tribunal that it was considered fit and proper by the president to constitute the present special bench under section 255(3) of the income-tax act, 1961.the position as clarified by the third member in the case of export house (supra) namely that when conflicting decisions are there, the decision of the special .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1991)36ITD540(Delhi)
..... assessment was completed on the basis of which a refund of rs. 20,903 was granted to the assessee. application under section 154/214 of the income-tax act, 1961 was filed on 20th august, 1985 requesting the assessing officer to grant interest under section 214. the assessing officer vide order dated 8th november, 1985 held ..... is made the payment made in advance loses its character as advance-tax payment and gets converted into payment towards regular^assess-mentby virtue of section 219of the income-tax act, 1961. thus, assessee is entitled to interest under section 244(1a) of the income-tax act, 1961 on the excess payments made, from the date of regular assessment ..... its order dated 7-11-1986 directed the assessing officer to pay interest under section 214 of the income-tax act, 1961 to the appellant considering the entire payment made during the financial year 1981-82 as advance-tax payment. the matter did not rest there. assessee filed another application under section 154 dated 7th october .....
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