Judgment Search Results Home > Cases Phrase: income tax act 1961 section 234d interest on excess refund Sorted by: old Court: punjab and haryana Page 1 of about 65 results (0.076 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 .....

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 .....

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 .....

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 .....

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 .....

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 .....

Bashir Ahmad Vs. the Crown

Court : Punjab and Haryana

Reported in : 1951CriLJ1041

..... the assistant commr. of income tax or of the appellate tribunal may be referred to the h. c. for decision.79. in all the instances mentioned above, ..... 13 (2) of the h. cs. order afore-mentioned.28. references on the civil side are constantly being made under various acts & reference may be made in this connection to section 66 (3), income tax act, to section 99 & 100, tenancy act, & to order 46, civil p.c. particularly rules 6 & 7.29. it is unnecessary to multiply instances & it was ..... the charges.77. under section 3 (7), extradition act, govt. of india or any local govt. can refer to the h. c. for decision any important question of law raised by the opinion or the written statement mentioned in the preceding clauses of the section.78. under the income tax act, questions of law arising out of the order of .....

Mt. Harnam Kaur Vs. Ratna and ors.

Court : Punjab and Haryana

Reported in : AIR1949P& H267

..... ad-duced evidence, and this evidence has been believed by the courts below, that karam singh has not been heard of for many years.9. according to section 108, evidence act, this only raises the presumption regarding death but not about the time of death which must be proved by other evidence. in this connexion i invite reference to a' bench .....

Gurdial Singh S/O Ainchal Singh Vs. the Crown

Court : Punjab and Haryana

Reported in : 1949CriLJ568

..... that statement a few minutes only. there is force in this contention of the learned counsel for the appellant and i find that it would not be safe to act upon the dying declaration of pritam singh.12. according to the first information report only two person witnessed the occurrence, namely gurdial singh mazhbi and gurdial singh jat. ..... that the statement of rana khawab ahmad khan made in the court of the committing magistrate be transferred to the record of the sessions court under section 33, evidence act. that being so, i find no force in the objection that there was no justification for the transfer of the statement of bana khawab ahmad khan recorded by the ..... hassan shah before the court admitted his deposition before the committing magistrate as evidence for the prosecution and it was held that none of the requirements of section 33, evidence act, had been satisfied.7. in inder v. emperor a.i.r. (17) 1980 lab. 1041 : (32 or. l.j. 266), the sessions judge had transferred the statement .....

Chas. J. Webb Sons and Co. Inc. Philadelphia Vs. Commissioner of Incom ...

Court : Punjab and Haryana

Reported in : [1950]18ITR33(P& H)

..... c.j., broadway, zafar ali, tek chand and jai lal, jj., that a person residing in british india is not liable to be assessed to income-tax under the indian income-tax act, on any part of the profits derived from sale in a foreign country of the goods purchased by him in british india when the profits have neither ..... prevent profits or gains accruing, or arising, or being deemed to accrue or arise in british india, from being taxable under the indian income-tax act.'3. 'no distinction, so far as liability to income-tax is concerned, could be drawn between profits on produce, which had undergone some process of conversion or working-up by the company in burma ..... british india. the decision of narasimham, j., was that the answer to this question was negative and that the second question, 'whether section 42(3) of the indian income-tax act was applicable', did not arise. it is, however, to be noted that while narasimham, j., answered the first question with an unqualified negative, ray, c.j., did .....