Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Court: income tax appellate tribunal itat cochin Page 3 of about 323 results (0.089 seconds)

Asian Techs Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1992)40ITD37(Coch.)

..... for the manufacture of which the industrial undertaking was set up, that would be counted as the first year for the purpose of granting relief under section 84 of the income-tax act, 1961. the fact that the production of cellulose pulp was started did not mean that the assessee company had begin to produce or manufacture the articles because the cellulose was only ..... the previous year was the financial year 1965-66, the company claimed deduction from its total income under section 84 of the income-tax act, 1961, which is a predecessor of section 80j. the income-tax officer held that as production of cellulose pulp had started in the month of march 1961, the assessee had begun to manufacture or produce finished articles or goods in that year. he .....

Assistant Commissioner of Vs. P.J. Eapen

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1994)48ITD221(Coch.)

..... from the wording of the charging sections 4 and 5 of the income-tax act, 1961.the first paragraph of sub-section (1) of section 4 reads as below: where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that ..... on a loan taken for constructing the building. there cannot be any doubt that notional income from a house property can be charged to tax only under section 22 of the income-tax act, 1961 and as income from house property. this is no real income and the specific provision of section 22 has got to come to play for bringing ..... m. raghunandan's case (supra). we have also gone through the different provisions of the income-tax act, 1961. we find that the special bench of itat, held in the abovementioned case that what is taxed under section 22 is, only the yearly income of the person derived from property and that legally and etymologically also annual value cannot mean monthly .....

Alexander George Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1998)67ITD334(Coch.)

..... was no longer in the notified area. shri kochunni nair submitted that transfer of agricultural land would not normally give rise to capital gains assessable to tax under the income-tax act. in the present case it was not disputed that the property belonging to the assessee, which was taken over by the government was agricultural land. ..... before the assessing officer the assessee claimed that the land concerned was agricultural land and so the capital gains arising on the transfer was not liable to tax under the income-tax act. the assessing officer did not accept that claim and he proceeded to make the assessment of the capital gain at rs. 13,33,987. he ..... submits that, after the issue of the second notification, agricultural land in thrikkakara panchayat would cease to be capital asset under section 2(14) of the income-tax act. but then he further contends that the effect of the second notification is that even in respect of the earlier period such agricultural land would not qualify as .....

Dy. Cit Vs. Saraf Trading Corpn.

Court : Income Tax Appellate Tribunal ITAT Cochin

..... lie against it. the learned departmental representative submitted that by virtue of section 116 of the income tax act, 1961, the departmental representative is an income-tax authority and therefore the officer can act before the tribunal/or the purpose of the income tax act, 1961. the presentation of the case and arguments or filing the written submissions or miscellaneous petition is ..... application in his individual capacity nor could he be treated as an individual applicant invoking the jurisdiction of the tribunal under section 256(1) of the income tax act, 1961. it is not necessary for the commissioner to sign the application if there is an authorisation for the senior representative to sign on behalf of the ..... the decision of the orissa high court in itat (supra). in this case, the hon'ble high court held that section 254(2) of the income tax act, 1961 empowers the tribunal to amend any order passed by it under subsection (1) with a view to rectify any mistake apparent from the record at .....

Deputy Commissioner of Vs. Saraf Trading Corporation

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2002)76TTJ(Coch.)439

..... . petition will lie against it. the learned departmental representative submitted that by virtue of section 116 of the i.t. act, 1961, the departmental representative is an income-tax authority and therefore the officer can 'act' before the tribunal for the purpose of the income-tax act, 1961. the presentation of the case and arguments or filing the written submissions or misc. petition is for the purpose of the ..... was not signing the application in his individual capacity nor could he be treated as an individual applicant invoking the jurisdiction of the tribunal under section 256(1) of the income-tax act, 1961. it is not necessary for the commissioner to sign the application if there is an authorisation for the senior representative to sign on behalf of the commissioner. the fact, that .....

investor'S Club Vs. Income-Tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2003)84ITD273(Coch.)

..... n) to render financial assistance to any socially relevant charitable activities and or give donation to institutions of national importance or funds covered under section 80g/80gga of income-tax act, 1961. (o) to do such other things as are useful, incidental and conducive to the attainment of the objects mentioned above.the assessee-club applied for registration ..... under section 12a of the income-tax act to the commissioner of income-tax. registration was initially rejected, but on a review petition by the assessee, registration was granted vide commissioner's letter dated 21-5-1996. ..... of the floor charge was mandatory. so we are of the view that the assessee-club is hit by the provisions of section 28(m) of the income-tax act.14. further, we are of the view that the decision of the apex court in the case of kumbakonam mutual benefit fund ltd. (supra), on which .....

Dharmodayam Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2003)84ITD259(Coch.)

..... stand allowed.1. i agree with the finding and order of the learned judicial member that the assessee-company is entitled to get exemption under section 11 of the income-tax act, 1961 as a charitable institution. my agreement to the above view of the learned judicial member is on the basis of the legal frame of the case. i do ..... v.cto [2001] 124 stc 553 (mad.).9. the learned counsel for the assessee submitted that it is true that clause (b) of section 11(4a) of the income-tax act, 1961, speaks of "work in connection with the business is mainly carried on by the beneficiaries of the institution." first of all, the expression "work" is indistinct and vague word ..... in kuries/ chitties was for carrying out the primary objects of the trust and hence it will not be hit by the provisions of section 11(4a) of the income-tax act, 1961. therefore, it was held that the denial of exemption invoking the provisions of section 11 (4a) cannot be sustained. the matter was carried on in reference to the .....

Gto Vs. P.J. Kurian

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2005)145TAXMAN18(Coch.)

..... filed by the revenue is allowed and cross-objection of the assessee is dismissed.reference under section 23(11) of the gift tax act, 1958 read with section 255(4) of the income tax act, 1961 the assessee in this case had executed seven deeds of conveyance of immovable properties in favour of his daughter, miss sunitha kurian.the ..... decision dated 30-10-2003. however on the request of the assessee, the aforesaid order was recalled. under section 35 of the gift tax act read with section 254(2) of income tax act vide order dated 27-2-2004, and appeal was fixed for fresh hearing. during the course of fresh hearing and disposal of appeal, the ..... connection, the learned departmental representative drew my attention to order-sheet entry dated 29-11-1996, wherein the assessing officer recorded reasons under section 148 of the income tax act, for issuing notices for assessment years 1995-96 and 1996-97. taking wind of above action, the assessee was prompted to execute cancellation deeds to avoid .....

Asstt. Cit, Central Circle 1, Vs. Popular Vehicles and Services Ltd.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2006)5SOT739(Coch.)

..... 3-1990 by admitting the assessee's additional claim at the time of hearing that the amounts should have been allowed as trading loss under section 37 of the income tax act. the learned commissioner (appeals) ought to have noticed that such a claim was not made by the assessee either at the time of assessment or even the grounds ..... the appellant is entitled for deduction of the amount of rs. 6,74,261 as trading loss under section 37 of the income tax act." considering rival submissions, we are of the view that the order of the cit (appeals) is to be confirmed. this amount remained as debit balance as on 31-3-1990 due to the disputes with ..... of appeal filed before the cit (appeals). by admitting the additional evidence without giving an opportunity to the assessing officer, the cit (appeals) has violated rule 37a of the income tax rules.the learned cit (appeals) ought to have also noticed that the debits have taken place from 15-4- .....

M. M. Mathew Vs. Second Additional Income-tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195629ITR456(Coch.)

..... the year 1952-53. a penalty of rs. 18,000 was also imposed upon him under section 28(1)(c) of the income-tax act for wilful manipulation of accounts and suppression of income. the tax assessed was cleared by the petitioner in instalments, but because he defaulted to pay up the penalty amount, a notice of demand ..... question arising for consideration is whether there is any illegality in applying the state revenue recovery act for purpose of realising income-tax arrears arising within the state jurisdiction.recovery of tax and penalties is provided for in chapter vi of the income-tax act. section 46 in that chapter provides for the mode and time of recovery. clause (2 ..... recovered from the assessee by way of penalty." now, for the purpose of the income-tax act, income-tax, penalty and interest have been viewed independently of each other. see for example section 29 which deals with notice of demand in respect of tax, penalty or interest. so it is urged that the absence of specific provision in .....