Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Court: income tax appellate tribunal itat cochin Page 6 of about 323 results (0.093 seconds)

Global Education Net (Genet) Vs. Cit

Court : Income Tax Appellate Tribunal ITAT Cochin

..... (supra). in that case, as per the facts, the assessee was registered as a charitable society and applied for granting registration under section 12a of the income tax act. the cit refused registration as it was found that the members of the society were mainly merchants and its activity was accepting recurring deposit from its members and fixed deposits ..... law and facts. 2. the learned commissoner ought to have condoned the delay of the appellant trust in making an application for registration under section 12a of the income tax act on the premises of its case reported to him. 3. in the alternative, if the commissoner was not convinced with the appellant's explanations for the delay ..... the application for registration and (ii) he was of the opinion that the assessee's case comes under sections 13(1)(c) and 13(2) of the income tax act. by giving both the reasons, the commissoner rejected the assessee's application. 12a. (1) the provisions of section 11 and section 12 shall not apply in relation .....

Commissioner of Income-tax Vs. Chamber of Commerce, Alleppey.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195527ITR535(Coch.)

..... what we are called upon to decide is whether the latter can be styled as "specific services" within the meaning of section 10 (6) of the indian income-tax act, 1922, and we see no reason why they should not be so considered. the word "specific" only means definite, distinctly formulated or stated with precision and we ..... the alleppey chamber of commerce; and (2) can those services be considered as "specific services" within the meaning of section 10 (6) of the indian income-tax act, 1922.the answer to the two questions will depend on the construction of the bye-laws and rules of the produce section which are appended as annexure a to ..... whether the sums of rs. 22,621 and rs. 14,972 are taxable under section 10 (6) of the indian income-tax act, for 1950-51 and 1951-52 assessment years respectively." 2. section 10 (6) of the indian income-tax act, 1922, provides : "a trade, professional or similar association performing specific services for its members for remuneration definitely related to .....

M. Pathumma Kutty Umma Vs. Assistant Controller of Estate

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1982)1ITD56(Coch.)

..... proceedings. reliance is also placed on the decision of the delhi high court in durga timber works v. cit [1971] 79 itr 63 wherein a similar provision in section 275 of the income-tax act, 1961 (1961 act), came up for consideration. it was also held therein that the expression of satisfaction by the authority to ..... initiate the penalty proceedings would amount to the commencement of the proceedings under section 271 of the 1961 act.5. we have considered these submissions carefully. ..... of section 59 are, therefore, in our opinion, materially different from the provisions of either section 28 of the 1922 act or section 271 of the 1961 act. under those provisions of the income-tax act, it is not necessary for the authority initiating the penalty proceedings to intimate the assessee that penalty proceedings are to .....

income-tax Officer Vs. Elite Sea Foods

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1983)3ITD348(Coch.)

..... by the revenue. the only point urged in this appeal is that the aac, calicut, has erred in holding that investment allowance is admissible under section 32a of the income-tax act, 1961 ('the act'), on the 'plate freezer'.2. the assessee purchases sea food, mainly shrimps and exports them after subjecting them to processes of de-heading, peeling, de-veining and freezing ..... assessee was engaged in the production of an article.7. the decision of the kerala high court in the case of boroth oil mills (supra) was under the sales tax act. this, in our opinion, is not concerned with the question here, viz., whether there is a production.it that case the question was whether there was a change ..... dated 20-8-1981 in the case of boroth oil mills co. ltd. in [trc no. 59 of 1981]. this was a case arising under the kerala sales tax act. it is pointed out by the departmental representative that it has been held in this decision that in a commercial sense prawns which are purchased by the assessee there .....

Travancore Chemical and Mfg. Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1983)6ITD788(Coch.)

..... chargeable profits of the previous year as exceed the statutory deduction. the term 'chargeable profits' has been defined by clause (5) of section 2 of the act as the total income of an assessee computed under the income-tax act, 1961 ('the 1961 act'), for any previous year and adjusted in accordance with the provisions of the first schedule. rule 2 of the first schedule appended to the ..... act provided that the total income arrived at after making certains exclusions referred to in rule 1 shall be further reduced by the amount of income-tax payable by the company in respect of .....

A.M. Sadick Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1983)5ITD343(Coch.)

..... agricultural purposes during the relevant accounting years. the income derived from the land by agricultural operations on it is agricultural income and not profits or gains of business or profession. agricultural income is defined in the income-tax act, 1961 ('the 1961 act') and is exempt from assessment under that act. agriculture is not thus an activity capable of ..... producing a profit which can be taxed in the hands of the owner ..... period which would be the previous year if an assessment of the profits and gains of such business or profession were to be made under the income-tax act for the assessment year; 4. shri venugopal c. govind, on behalf of the assessee, contended before us that the kaloor property of 5.40 .....

income-tax Officer Vs. Poyilakkada Fisheries (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1985)14ITD224(Coch.)

..... not also require him to do so. we, therefore, uphold the order of the commissioner (appeals) on this point.8. the assessee claimed deduction under section 80j of the income-tax act, 1961 ('the act') on the capital employed in its business.according to the ito, the assessee's business consisted of catching offish, maintaining a cold storage, processing of fish and export and sale ..... leave the same commodity as end product it is pointed out that the question for consideration under section 5(3) of the central sales tax act was entirely different from that coming up for consideration under the income-tax act. the sales tax act, according to the learned counsel, does not require in fact any elaborate enquiry into the process of manufacture or production. on the contrary .....

Rejini Ice and Cold Storage Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1987)23ITD147(Coch.)

..... 1. this appeal filed by the assessee is against the order of the commissioner of income-tax, cochin dated 4-7-1985 under section 263 of the it act, 1961.2. the assessee-firm is engaged in the business of processing and export of sea foods. the assessment for the assessment year 1980-81 (for which the previous year ended ..... the liability ceases it should be included in the income of that year. section 41(1) of the it act, 1961 is always available to the ito. see the decision of the bombay bench of the tribunal in india coffee & tea distributing co. ltd. v. iac [1986] 18 itd 120. in l.j.patel & co. v. cit [1974] 97 itr 152 the kerala high court ..... on 31-3-1980) was originally completed on 6-7-1983. while finalising the said assessment the income-tax officer allowed deduction of rs. 5 .....

Mrs. Nalinibai V. Saraf Vs. Assistant Controller of Estate

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1996)58ITD536(Coch.)

..... be considered as a commercial profit in the ordinary sense of the term. the learned departmental representative relies on the provisions of section 28(b)(iii) of the income-tax act to support the computation.16. having heard rival submissions, we hold that the goodwill is based on the assumption that the existing facilities will continue to remain intact ..... . thus, we reject the contention of the accountable person.22. the next objection is against the inclusion of the refund and interest under section 214 of the income-tax act in the estate of the deceased. long after the death of the deceased the firm in which the deceased was a partner was granted interest and refund as follows ..... the value of the estate.24. the penultimate objection in the assessee's appeal is against non-granting of exemption under section 33(1)(n)(nn) of the income-tax act, in respect of the residential flat at bombay. the assessing officer adopted the value of the flat at rs. 4,50,000 but the first appellate authority .....

Siva Traders Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1997)61ITD437(Coch.)

..... assessment. according to the assessee, the subsequent information gathered by the assessing officer was not sufficient to reopen the assessment under section 147(a) of the income-tax act, 1961. the assessee could not have made an imaginary profit of rs. 27,87,777 on the sale of 103251 litres of arrack and therefore such addition should ..... but by oversight did not bring the amounts represented by the drafts to tax as the income of the assessee. subsequently, the income-tax officer issued a notice under section 147(a) of the income-tax act, 1961 with a view to assess the amounts as the assessee's income from undisclosed sources. on a writ petition filed by the assessee, the ..... the two decisions cited above, fully support the assessee's case on the point of limitation for making a reassessment under section 147(a) of the income-tax act, 1961.11. the learned departmental representative, sri k.r. sudhakaran pillai tried to justify the reassessment made under section 147(a). he took us through .....