Court : Chennai
Reported in : [1966]17STC38(Mad)
..... the supreme court was that a wide meaning should be given to section 34 of the indian income-tax act in the matter of assessing income which has escaped liability to income-tax, so as to cover cases in which the income-tax officer had already applied his mind and come to some conclusion.29. these two decisions therefore ..... would come under the category of escaped turnover, on behalf of the assessee, reliance was placed upon the analogous provision, section 34 of the indian income-tax act and the decisions thereunder as to the proper meaning to be given to the words escaped assessment.17. the assessee in that case, therefore, contended ..... kameshwar singh v. state of bihar : [1959]37itr388(sc) , a decision rendered under the bihar agricultural income-tax act of 1938 and the other in maharajkumar v. income-tax commissioner : [1959]35itr1(sc) arising under section 34 of the indian income-tax act.7. learned counsel drew our attention to the judgment of veera-swami, j., in writ petitions nos. .....
Tag this Judgment!Court : Mumbai
Reported in : [1978]113ITR265(Bom)
..... year 1960-61. 11. before we actually deal with the relevant provisions of the indian income-tax act, 1922, and the income-tax act, 1961, a brief reference may be made to the provisions of the electricity act. section 5 of the electricity act contains provisions relating to the circumstances under which the licence of a licensee can be ..... board would discharge a loan advanced by the government to the assessee. for the assessment year 1963-64, the income-tax officer brought to tax as profit under section 41(2) of the income-tax act, 1961, the excess over the depreciated value of the assets. the question was whether the excess was rightly chargeable under section ..... as to permit deduction of expenses incurred in the business. reference was made by mr. munim to sub-section (5) of section 41 of the income-tax act, 1961, whereunder set-off is permissible under the circumstances therein mentioned. he urged that its provisions are of no assistance in interpreting the provisions of section ( .....
Tag this Judgment!Court : Uttaranchal
Reported in : (2004)189CTR(Uttranchal)91; [2003]264ITR328(Uttaranchal)
..... of 2003 are mentioned hereinbelow ;facts : hyundai heavy industries company ltd., the assessee, was charged with interest under section 201(1a) of the income-tax act, 1961, for short payment of tax deducted at source from the salary of its employee for the assessment year 1994-95. being aggrieved by the order of the assessing officer, the ..... of free accommodation facility provided by the employer to its employees and the assessing officer was not justified in charging interest under section 201/201(1a) of the income-tax act ?' answer : for reasons given hereinafter we are answering both the questions in the affirmative, i.e., in favour of the assessee and against the department. ..... a perquisite under section 17(2)(iii) and those decisions have not been challenged by the department and therefore interest under section 201(1a) of the income-tax act was not leviable on hyundai heavy industries co. ltd. being aggrieved by the decision of the tribunal, the department has come by way of appeal under .....
Tag this Judgment!Court : Chennai
Reported in : 1998(2)CTC677
..... high court reported in : [1989]177itr176(bom) . under the impugned judgment the high court has set aside the attachment levied under rule 11 of the second schedule to the income-tax act, 1961 by the tax recovery officer on an immovable property originally belonging to the assessee (since deceased). the property was claimed by the wife of the assessee (since deceased) and his daughter, original ..... become final. while examining the declaration given in the present case by the income tax officer under section 281 of the income-tax act, the high court had expressly held that by introduction of section 281 in the income tax act, 1961, the legislature had no intention to confer an exclusive power and jurisdiction upon the income tax authorities to decide the questions arising under section 281. section 281 merely declared .....
Tag this Judgment!Court : Chennai
Reported in : AIR1966Mad365
..... the central government is satisfied that the petitioners are engaged in the manufacture of one or more of the articles specified in part a of the fifth schedule to the income-tax act, 1961. the petitioners are a public limited company incorporated in 1954, and are said to be engaged during the relevant time in the manufacture of grinding wheels and abrasives, being the ..... that the board of revenue had considered the matter, but it regretted that the request regarding exemption contemplated under the fifth schedule read with s. 99(1)(iv) of the income-tax act 1961, could not be acceded to. there was a further communication on 14-5-1964 from the secretary to the central board of direct ..... of the petitioners for a certificate was made not to the central government, but to the central board of revenue as it figured then. section 99(1)(iv) of the income-tax act 1961 reads:'(1) supertax shall not be payable by an assessee in respect of the following amounts which are included in his total .....
Tag this Judgment!Court : Mumbai
Reported in : [1990]184ITR7(Bom)
..... it is agreed, can be further narrowed down to the two words used therein, namely, 'money lent'. the expression 'money lent' is admittedly not defined in the income-tax act, 1961. therefore, we have to first as certain the plain dictionary meaning of the words 'money' and 'lent'. according to shorter oxford english dictionary, 'money' means current ..... interest on the unpaid purchase consideration. the indian company had paid interest but had not deducted taxes under section 195 of the income-tax act, 1961. the claim for deduction in respect of interest was disallowed on the ground that the tax was not deducted from interest payments. the question that arose in that context was whether the ..... ingots. it will be illegal and unjustified in our view to extend the meaning of the expression 'money in kind' in section 42(1) of the income-tax act beyond these accredited uses of money accepted, used and recognised as such in the commercial world and in the usual transactions. we, therefore, hold on the .....
Tag this Judgment!Court : Karnataka
Reported in : [1968]67ITR150(KAR); [1968]67ITR150(Karn)
..... , 1964. 60. under the first proviso, the deposit has to be made either within thirty days of the service of notice of demand under section 156 of the income-tax act, 1961, or by june 30, 1964, whichever is earlier. so, if the period of thirty days after the service of the notice of demand expired before june 30, ..... of the assessment year commencing on april 1, 1963, could be made within thirty days of the service of the notice of demand referred to in section 156 of the income-tax act, 1961, for that year, or by march 31,1964, whichever date was earlier, for march 31, 1964, specified in this proviso, june 30, 1964, weak later substituted. ..... contention was sought to be derived from the interpretation placed upon section 29 of the income-tax act, 1922(xi of 1922), which corresponds to section 156 of the income-tax act 1961 (43 of 1961). on the foundation that these sections authorise a notice of demand when any tax, interest, penalty or fine or the like is payable in consequence of an order .....
Tag this Judgment!Court : Allahabad
Reported in : [1942]10ITR152(All)
..... nagpur high court following the decision of a bench of three judges of the madras high court in venkatachalam chettiar v. commissioner of income-tax, madras2, held that where the commissioner of income-tax, acting under section 33, refuses to review the order of an assistant commissioner, the position of th assessee not being altered as consequence, ..... petitioner.8. that your petitioner submits that in fairness this is a proper case for the exercise of your power of review under section 33 of the income-tax act, 1922, and that you have the power to revise to assessment made by the subordinate authority after consulting the central board of revenue (vide paragraph 104 ..... , p. 268 of the income-tax manual, 1937).wherefore you petitioner prays that you may be pleased in the exercise of your powers under section 33 of the income-tax act, 1922 to call for the record of the petitioners assessment by the subordinate authority and .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1966SC1026; [1966]60ITR173(SC); [1966]2SCR925
..... written-down value of the assets. alternatively, he argued that in any event only that part of the depreciation which had entered into the computation of income found liable to income-tax under the indian income-tax act, which income was calculated on proportionate basis alone, should be deducted from the original cost in determining the written-down value under s. 10(5) (a) of ..... and including 1944 in the (1) [1962] 2 s.c.r. 318: [1961] 41 i.t.r. 280. assessments made in the taxable territories would be the depreciation which was actually allowed against the taxable income ,and not the depreciation computed against the total world income. on the 4th question, it answered that the depreciation actually allowed meant the depreciation ..... civil appellate jurisdiction: civil appeals nos. 629 to 632 of 1964. appeals from the order dated september 22, 1961 of the madhya pradesh high court in misc. civil case no. 277 of 1960. a. v. viswanatha sastri, r. ganapathy iyer, b. r. g. k. achar and r. n .....
Tag this Judgment!Court : Chennai
Reported in : (1992)104CTR(Mad)143; [1992]195ITR137(Mad)
..... above, it is unequivocally crystal clear that the commissioner had exercised his discretion to prosecute the petitioner, accused no. 1, for the offences under the income-tax act, 1961, inclusive of sections 276c and 277. from the authorisation so given, it is inferable with ease and grace that the commissioner had exercised his discretion ..... accused no. 1 presenting before the sub-registrar, kodambakkam, form no. 37g (in duplicate) prescribed under rule 48 of the income-tax rules, 1962, and section 269p(1) of the income-tax act, 1961, duly verified and signed, along with the instrument of transfer mentioning in columns 8 and 9, the actual consideration for the ..... 1860, is not legally permissible, as there is no section for such prosecution under section 279(1) of the income-tax act, 1961, and if the complaint had been filed limited to offence under the income-tax act alone, there was a possibility of such offences being compounded under the benevolent provisions adumbrated in sub-section (2) .....
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