Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Court: income tax appellate tribunal itat lucknow Page 5 of about 81 results (0.146 seconds)

Suresh Chand Verma Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2004)89TTJLuck661

..... disposed of by this composite order, as they were heard simultaneously.it is to be noted that a search and seizure operation under section 132(1) of the income tax act, 1961 (hereinafter referred to as the 'act'), was carried out at the business and residential premises of both the assessees on 12-3-1999, resulting into seizure of cash, gold/silver ornaments etc. in ..... seized and requisitioned assets shall be applied. the honble madras high court in the case of k.t. kunju v. cit (supra) has observed as under : "the provisions of chapter xiv-b of the income tax act, 1961, would override all other provisions of the act and if assets are seized, they have to be dealt with only in the manner and the mode prescribed under .....

Assistant Commissioner of Gift Vs. Sahara India (Firm) [Alongwith

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)94ITD70Luck

..... by the assessee on the advance of a money to a sister concern, there could be no interest accrued to the assessee, which could be liable to tax under the income-tax act, 1961. in a case where no income by way of interest has accrued to the assessee, there is no right, which has vested in the assessee and, therefore, the question of relinquishment and ..... present appeal, has already been deleted by the first appellate authority. at this, the ld. d.r. submitted that the proceedings under the income-tax act, 1961, are different proceedings and even if the addition of the interest in the income tax proceedings has been deleted by the appellate authority/authorities still a thing/right could be a subject matter of a deemed gift under section .....

U.P. Rajkiya Nirman Nigam Ltd. Vs. Joint Cit, Special Range Iii

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... commissioner (appeals) was not justified to delete interest leviable under section 216 of the act which is mandatory in nature merely because there is no speaking order of the assessing officer ..... /immunity from taxation of its income. therefore, grounds of appeal taken by the assessee in its appeal as well as cross objections are rejected.11. during the course of hearing, the learned departmental representative submitted that the assessee was liable to pay interest under section 216 of income tax act, 1961. he submitted that the learned ..... and the same are reproduced as under: coming to other questions, namely, if petitioner was entitled to claim exemption under section 11(1) of income tax act or article 289 of the constitution, they appear to be fully covered by the two decisions of hon'ble supreme court in case of andhra pradesh .....

Smt. Neelam Agarwal Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... legal or valid jurisdiction to initiate proceedings under section 158bc in the present case, therefore, the present order so passed under section 158bc of the income tax act, 1961, being voidab initio and illegal be ordered to be quashed.4. learned authorised representative for the assessee submitted that no fresh facts are required to be ..... swaroop nagar, kanpur, is illegal, bad in law and voidab initio as the learned additional director of income tax (inv.), kanpur, subsequent to 30-10-1998, was not authorised under the income tax act, 1961 to sign and authorize any income tax authority through a warrant of search and hence consequentially there being no valid search warrant in the name ..... the appellant, seized from a locker no. 150 with pnb, bahraich opened and operated by the appellant and surcharge over and above the tax payable under section 113 of the income tax act, 1961. 2. that while sustaining the addition of rs. 98,316 being the accruedinterest on ivps of rs. 1,50,000 the learned .....

Up State Industrial Development Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2004)89TTJLuck669

..... this matter and the rival submissions. at the outset, we may observe that no time limit is fixed for passing orders under section 201(1a) of the income tax act, 1961, and in any case the delay of three or four years in passing the orders for demanding interest under section 201(1a) cannot be treated to be ..... written to the departmental authorities. the relevant extract of the letters are reproduced below : "kindly refer to your above letter for verification of tax at source under section 194(c) of the income tax act, 1961, regarding construction of upsidc head office complex building being done at a-1/4, lakhanpur (kanpur). in this connection, it is to ..... point. since the department was not convinced with the reply of the assessee and the stand taken by it, the income tax officer proceeded to pass the order under section 201/201(1a) of the income tax act, 1961.the assessee preferred separate appeals against the order of the assessing officer, which appeals were decided by a common order .....

U.P. State Industrial Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2002)81ITD173Luck

..... relating to this matter and the rival submissions. at the outset, we may observe that no time limit is fixed for passing orders under section 201(1a) of the income-tax act, 1961, and in any case the delay of three or four years in passing the orders for demanding interest under section 201(1a) cannot be treated to be unreasonable, in ..... in its letter written to the departmental authorities. the relevant extract of the letters are reproduced below : kindly refer to your above letter for verification of tax at source under section 194(c) of the income-tax act, 1961, regarding construction of upsidc head office complex building being done at a-1/4, lakhanpur (kanpur). in this connection, it is to inform . ..... with the reply of the assessee and the stand taken by it, the ito proceeded to pass the order under section 201/201(1 a) of the income-tax act, 1961.6.8 the assessee preferred separate appeals against the order of the assessing officer, which appeals were decided by a common order by the 1d .....

U.P. State Bridge Corpn. Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2003)84ITD452Luck

..... to be excluded, according to the learned counsel for the assessee, the amount of interest payable under sections 215 and 217 of the income tax act, 1961, being part of income tax has also to be excluded. it may be pointed out that neither the learned senior departmental representative nor the learned counsel for the ..... holding that the interest of rs. 1,07,72,385 and rs. 44,27,590 charged under sections 217 and 220 of the income tax act, 1961, from the appellant did not form part of the income-tax and, therefore, was not deductible in computing the chargeable profits under rule 2(1) of the first schedule of the companies (profits) ..... can be said that while allowing deduction on account of income tax for computing chargeable profit under the companies (profits) surtax act, 1964, the interest on such income tax levied or leviable under sections 215 and 217 of income tax act, 1961, which forms part of the process of assessment of tax should also be allowed as deduction.we are adopting the above .....

Tirupati Mercantile Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2004)90TTJLuck436

..... filed on 16-4-1999, as per acknowledgement appearing on p. 22 of the paper book, notice dated 31-7-2000, issued under section 143(2) of the income tax act as appearing on p. 23 of the paper book is beyond time, i.e., beyond one year, therefore, assessment framed is barred by limitation and is liable to ..... question of transferring of shares arose and the transaction of the appellant -assessee is clearly covered in view of the provisions under section 43(5) of the income tax act. therefore, the learned commissioner (appeals) is justified in holding that it was a case of speculation loss and that kind of loss cannot be set-off against other ..... delivery of shares, therefore, no question of transferring the shares in its name arose. therefore, the transactions were clearly covered under section 43(5) of the income tax act and the learned commissioner (appeals) treated the loss suffered by the appellant- assessee in the transactions of share as speculation loss which cannot be set-off against other .....

Shri Jitendra Manghnani Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... is "resident in india" or not. therefore, respectfully following above decision , we also hold that one has to look at the definition of "resident" only in the fer act and need not come back to the income tax act unless it is so specifically provided. there is another logic in this conclusion. it is clear that section 5(iib) and explanation thereto of gift ..... of determining whether a person is a "resident in india" or "not resident in india" within the meaning of section 2(q) of fer act, one has to only look to fer act and need not come back to income tax act for finding out the meaning of "resident" or "not resident". the concept of resident has been clearly defined in section 2(p) of ..... determining whether a person is resident in india or not, one has to come back to section 6 of the income tax act and find out whether the person is resident in india or not.section 6(1)(a) of the income tax act provides that a person will be resident in india only when he is in india for 182 days or more in .....

Deputy Commissioner of Income Tax Vs. U.P. Forest Corporation

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... has power to initiate assessment proceedings because local authority is taxable unit under section 2(31) of the it act, 1961 and that every income of the local authority is not liable to be excluded under section 10(20) of the it act, 1961. the cit(a) following the order of the hon'ble high court in respect of local authority directed the ..... in brief are extracted as under: 3. the u.p. forest corporation was created by the u.p. forest corporation act, 1974. the corporation filed its return of income as exempt under section 10(20) of the it act, 1961 claiming it to be a local authority. against initiating the assessment proceedings for the asst. yr. 1976-77, corporation moved ..... ao to decide as to whether the entire income was exempt under section 10(20) of the it act. the revenue filed an appeal before the tribunal who held .....