Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Sorted by: old Court: income tax appellate tribunal itat cochin Page 1 of about 323 results (0.112 seconds)

The Dy. Commissioner of Vs. State Bank of Travancore

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2007)292ITR56(Coch.)

..... the provisions of section (sic), 237, 240, 243, 244 and relevant case law on the issue and held as under: in view of the express provisions of the income-tax act, 1961, an assessee is entitled to compensation, by way of interest for the delay in the payment of amounts lawfully due to the assessee which are withheld wrongly and contrary to ..... to the assessee for money remaining with the government. to remove this inequity, as also to simplify the provisions in this regard, the amending act, 1987, has inserted a new section 244a in the income-tax act, applicable from the assessment year 1989-90 and onwards, which contains all the provisions for payment of interest by the department for delay in the ..... know no equity. there cannot be a direction to the revenue to pay interest in equity, when there is no such provision in the income-tax act. the decision in the case of modi industries ltd. (supra) has been considered by the hon'ble supreme court in the recent decision in the case of sandvik asia .....

Tcm Ltd. Vs. the Jt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

..... that the re-opening of the assessment for the a.y. 1979-80 under section 147 read with section 150(1) of the income-tax act is valid and is not hit by section 150(2) of the income-tax act, 1961. 2. the cit(a) erred in holding that the re-assessment made under section. 143(3) read with section 147 and section 150(1) is ..... 58,697 received by the assessee by way of refund of electricity charges in the subsequent year is taxable in the year under consideration under section 41(1) of the income-tax act, 1961? 2. was the appellate tribunal justified in its view that the supreme court decision rendered during the accounting period relevant to the assessment year under consideration created a vested right ..... (sc), it was held as under: by applying the above principle, we are of the view that the term obtained" used in sub-section (1) of section 41 of the income-tax act, 1961, cannot be given a meaning "capable of being obtained". this is the view taken by the full bench of the gujarat high court in .....

Concordia Corporation Ltd. Vs. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195222ITR344(Coch.)

..... a wise manner, or prudent manner. arguments of convenience or the expert view of accountancy in regard to calculation of profits have no place in the income-tax act.the conventional mode adopted in accountancy of disregarding profits in kind is merely a latitude that is permitted in a domestic valuation, e.g., valuation of a ..... ascertaining the actual cost of the closing stock.9. learned counsel for the department relied upon the following passage at page 585 of sampath iyengars commentary on the indian income-tax act (1951, vol. ii) :- "adverting to the other method, viz., calculation of profits for domestic purposes : the balance-sheet is prepared by an accountant in ..... and is limited to the question as to the proper mode of valuation of the closing stock. section 17 of the travancore income-tax act, corresponding to section 13 of the indian act, provides :- "17. income, profits and gains shall be computed for the purposes of section 13, 14 and 15 in accordance with the method of accounting .....

Thangalkunju Musaliar Vs. Authorised Official and

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195425ITR120(Coch.)

..... force the travancore taxation on income (investigation commission) act, 1124 (travancore act xiv of 1124 ..... ) march 31, 1950. the finance act, 1950 (central act xxv of 1950) came into force and the indian income-tax act, 1922 (central act xi of 1922) was extended to travancore-cochin.(4) april 18, 1950. the opium and revenue laws (extension of application) act, 1950 (central act xxxiii of 1950) extended to travancore-cochin the taxation of income (investigation commission) act, 1947 (central act xxx of 1947), and continued in .....

The Travancore Minerals Co., Ltd. Vs. Commissioner of Income-tax.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195528ITR505(Coch.)

..... expenditure or a revenue expenditure is it a payment incurred wholly for the purpose of the business as contemplated in clause (xv), of section 13 of the income-tax act 3. whether payment is of the nature of an additional royalty and if it is so, whether it is an allowable deduction 4. whether on the facts ..... capital expenditure. it is a payment incurred wholly for the purpose of business as contemplated in clause (iv) of section 13 of the travancore income-tax act corresponding to section 10(2)(xv) of the indian act.6. question no. 5. - the company is not estopped from claiming allowance for the 10 per cent. payable to the government. ..... subramania iyer and joseph vithayathil, jj. - this is a reference made by the income-tax appellate tribunal under section 113 of the travancore income-tax act, xxiii of 1121, corresponding to section 66(2) of the indian act. the following are the five questions referred : "1. whether the payment of 10 per cent. of the companys net profits to government is .....

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 .....

Porinchu Variath Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195527ITR503(Coch.)

..... of business, that law shall cease to have effect except for the purposes of the levy, assessment and collection of income-tax and super-tax in respect of any period not included in the previous year for the purposes of assessment under the indian income-tax act, 1922 (xi of 1922) for the year ending on the 31st day of march, 1951, or for any subsequent ..... instance of the assessee, poranchu varied, thekkinedath house, north parur, under section 113 (1), travancore income-tax act, xxiii of 1121. the following three questions have been referred : "(1) whether in view of the sections of the indian finance act of 1950, the present assessment under the travancore income-tax act (xxiii of 1121) is invalid and ultra vires and offends the provision of the indian constitution .....

P. B. I. Bava (Deceased) (by Legal Vs. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195527ITR463(Coch.)

..... seven preceding that year been in travancore for a period of or for periods amounting in all to, more than two years." 2. under section 5 (a) of the travancore income-tax act, 1121, an individual is "resident" in travancore in any year if he, - (i) is in travancore in that year for a period of or period amounting in all ..... broad distinction is between those who are resident and those who are not resident, in other words, between those coming under section 5 of the travancore income-tax act, 1121 (section 4a of the indian act) and those who do not. it is only after an assessee has been found to be a resident that the further question will arise as to ..... years 1945, 1946, 1947 and 1948 (relevant assessment years being 1122, 1123, 1124 and 1125 m. e.) within the meaning of section 6 (a) of the travancore income-tax act corresponding to section 4b (a) of the indian income-tax act".it was agreed at the bar that we need concern ourselves only with the first portion of section 6 (a) of the travancore .....

K. Parameswaran Pillai Vs. Additional Income-tax Officer,

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : 195528ITR885(Coch.)

..... writ of certiorari quashing the order of rectification dated 29th april, 1955, filed in the case as ex. c and passed under section 48 of the travancore income-tax act by the respondent, income-tax officer, quilon. the respondent will pay the costs of the petitioner. advocates fee rs. 100.14. o. p. no. 120 of 1955. this application ..... petitioner herein in tobacco and cashew in fact constituted distinct businesses and not the "same business" within the meaning of section 24 clause (2) of the indian income-tax act. the question, in my opinion, is only whether it was open to him after set-off, of loss carried over, had been once allowed, to reconsider ..... relates to the income-tax assessment for 1951-52. the assessment was on 30th january, 1954, under the indian income-tax act. it computed the income as follows : 15. the respondent, additional income-tax officer, quilon, purported by ex. b order dated 30th april, 1955, to rectify an alleged .....

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 .....