Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Court: income tax appellate tribunal itat ahmedabad Page 18 of about 698 results (2.914 seconds)

Vishnubhai N. Thakkar Vs. Astt. Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)72TTJ(Ahd.)879

..... of the judgment is reproduced as below : "whenever refund of any amount becomes due to the assessee and it is not granted within a particular period, section 244 of the income tax act, 1961, mandates payment of interest. section 240 is a general section which envisages refund of any amount that becomes due to the assessee and takes within its fold even interest levied ..... is reproduced as under : "the assessee claimed that it was a wholly charitable institution and its income should not be subject to tax under sections 12 and 13 of the income tax act, 1961. the income tax officer rejected the contention and assessed the tax and also charged interest for non-payment of tax.the tribunal held that the assessee was a charitable institution and the assessment under sections 12 .....

Smt. Mrudulaben B. Patel Vs. Asst. Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2003)85ITD463(Ahd.)

..... with is as to whether the amount received by the appellant out of the undisclosed income would amount to dividend within the meaning of "assessable to tax" in accordance with the provisions of the income tax act., 1961.section 2(24) of the income tax act, 1961 defines "income" to include : (a) any distribution by a company of accumulated profits, whether ..... so as to avoid the taxation of dividend in the hands of the shareholders. the legislature in its wisdom incorporated section 2(22) of the income tax act, 1961 to provide for taxation of such advances or loans to the shareholders as deemed dividend.16. thus, the intention of the legislature becomes absolutely clear ..... deal with this issue more elaborately.as per the scheme of the income tax act, 1961, the income of a company is liable to tax when the income is distributed amongst the shareholders by way of dividend, the act provides for levy of tax on the distribution of income also in the hands of the shareholders. it was argued before .....

Cotton Merchants Association Vs. Wealth Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2004)89TTJ(Ahd.)338

..... that there is fundamental difference between section 167a of the income tax act and section 21aa of the wealth tax act, as in income tax act aop falls under the meaning of person whereas in the wealth tax act there is no such position, the wealth tax act never taxed aop'as entity, but it is tax due to section 21aa, only on the condition that ..... of assessment. it will not be right to presume that the legislature was unaware of the wording of the charging section of the indian income tax act when the wealth tax act was enacted. the legislature must be presumed to have known the large number of cases that were heard and decided on the scope of ..... also contention of the learned departmental representative that section 21aa of the act is similar to section 167b of the income tax act and the appellant has been assessed in that section under the income tax act, therefore, the assessee association is assessable under section 21aa of the act. in respect of circular no. 320, dated 11-1-1982, the .....

Assistant Commissioner of Vs. K. Kachradas Patel Spec. Family

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2004)88ITD228(Ahd.)

..... by assessing officer. the matter went upto the supreme court and their lordships held that in order to attract the provisions of section 41 (1) of the income-tax act, 1961, the identity of the assessee in the earlier year in which deduction was granted in relation to a trading liability and in the subsequent year in which the ..... obtained by him or the value of benefit accruing to him, shall be deemed to be profits and gains of business or profession and accordingly chargeable to income-tax as the income of that previous year, whether the business or profession in respect of which the allowance or deduction has been made is in existence in that year or ..... have actually been distributed no doubt was left in regard to dissolution of the trust. reference to the appointment of the constituted attorney to look after the income-tax matters and the operation of the bank accounts for depositing of refund was irrelevant consideration to decide the issue of dissolution of the trust.according to him, .....

Premier Art Silk Processors (P) Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2004)88TTJ(Ahd.)375

..... the assessee-company repaid deposits of rs. 8,17,324 in cash during the assessment year which is violation of the provisions of section 269t of the income tax act. the details of the above amount are reproduced as under: the commissioner (appeals) confirmed the penalty to the extent of rs. 2,06,000 ..... reasonable cause for making such payment in cash. he further submitted that in view of section 273b of the income tax act no penalty is leviable for default of provisions of section 269t of the income tax act, when the default is committed on account of reasonable cause. the learned authorised representative further submitted with reference to ..... . this amount is covered by the term "deposit" as defined in the income tax act. the definition of the word "deposit" as per the companies act has no relevance when there is a clear definition of -the term "deposit" in the income tax act, particularly in section 269t itself.the learned authorised representative reiterated his submissions which .....

Aarti Industries Ltd. Vs. Dy Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2005)95TTJ(Ahd.)15

..... , first ground relates to exclusion of sale of scrap, sundry balance written back and octroi refund, while computing deduction under section 80-i of the income tax act, 1961.we have heard the rival contentions and found from the record that while computing deduction under section 80-i, the assessing officer excluded the sale of scrap ..... 135.next grievance of the revenue relates to advertising expenses and press announcement expenditure for public issue claimed as deduction under section 37(3) of the income tax act.we have heard the rival contentions and found from the record that expenditure incurred on advertisement and press announcement was treated by the assessing officer as ..... deduction under section 80-i we direct accordingly.next grievance of the revenue relates to computation of deduction under sections 80hh and 80-i of the income tax act on sarigam unit. however, it is not clear either from the ground of appeal raised by the revenue nor by the submissions of learned departmental .....

Asstt. Cit Vs. Adani Export Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)111TTJ(Ahd.)556

..... cannot be said that no debatable point is involvedtherefore, there was no mistake apparent from record in the impugned order of the tribunalsection 254(2) of the income tax act, 1961.7. he further submitted that in this case interest under section 201(1a) is chargeable for non-compliance of section 195 from which two very important aspects ..... b)informationdecision of high courtnotice under section 148 was issued prior to decision of supreme court reversing the decision of rajasthan high courtorder for reassessment was validsection 147(b) of income tax act, 1961. (ii) export enterprises (p) ltd. v. ito and ors. (1983) 142 tip, 641 (cal) reassessment under section 147(b)informationaudit's opinion on ..... erred in law and on the facts of the case in deleting the interest of rs. 3,58,632, levied under section 201(1a) of the income tax act, 1961 ignoring the fact that the provisions of section 201(1a) are on the statute and not amended retrospectively and hence the facts in this case and that of .....

Canara Bank Vs. the Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)116TTJ(Ahd.)689

..... of technical services from the provider of the internet service, and such subscriber regarded as being obliged to deduct tax at source on the payment made to the internet service provider. at the time the income-tax act was enacted in the year 1961, as also at the time when explanation 2 to section 9(1)(vii) was introduced by the finance (no ..... . 2) act, with effect from april 1, 1977, the products of technology had not been in such wide use as ..... the member bank branches. therefore it is clear that the micr centre completely falls within the ambit of managerial services as per the provisions of section 194j of the income-tax act. 4.4 incidentally, it is further seen as stated above the state bank of india, surat managing the micr centre at surat has directed the member banks to .....

Acit and the Joint Commissioner of Vs. Panchmahal Cement Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... the same were claimed to have been received, the ao, treating the same as unconfirmed cash credits, added the same to the assessee's taxable income under section 68 of the income-tax act. 1961 ["the act" hereinafter].3.2 in appeal, the assessee reiterated its submissions as made earlier, further explaining that it had adopted this unusual practice, i.e., ..... place, or alter allowing a reasonable opportunity to the ao to examine the same, so that his order stands vitiated by non-observance of rule 46a of the income-tax rules, 1962.under the circumstances, we only consider it fit, in the interest of justice, to restore this matter back to the file of the ao to ..... before the division bench for passing the appropriate order.1. the present set of appeals by the revenue arise from the two separate orders by the commissioner of income-tax (appeals)-iv. baroda ["cit(a)" for short] dated 03-05-1999 and 01-02-2001, in respect of the same assessee for two consecutive years, i.e., assessment years ( .....

Arvind Mills Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)1ITD872(Ahd.)

..... are in brief.3. the assessee is a limited company carrying on business in manufacturing textiles in ahmedabad. the assessee paid interest under section 220(2) of the income-tax act, 1961 ("the act") in the assessment year 1977-78 which is the year under appeal (accounting year of the assessee being calendar year). the details of such interest are as ..... whether a sum of rs. 1,41,516 paid by way of interest to the income-tax department under section 220(2) of the income-tax act is an allowable deduction under section 37 or 28 in computing the business income of the assessee 2. this question is no longer res integra in view of the two direct decisions of the high ..... courts on the point, they are cit v. oriental carpet manufacturers (india) (p.) ltd. [1973] 90 itr 373 .....