Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2007)104ITD257(Mum.)
..... was contended that refund had arisen as a result of appellate order and, therefore, was required to be issued to the assessee automatically in terms of section 240 of the income tax act, 1961 (act). according to the assessee, the payment of rs. 7.50 lacs was actually made against the demand of block assessment but by mistake assessment year 1997-98 was mentioned in ..... to be in excess, then the assessee is entitled to refund. this principle has been recognized by the legislature while enacting the income tax act, 1961 by enacting the provisions relating to refund and interest thereon in chapter-xix. section 237 of the act which is relevant for disposal of this appeal, provides as under: 237. if any person satisfies the assessing officer that the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2006)9SOT254(Mum.)
..... was contended that refund had arisen as a result of appellate order and, therefore, was required to be issued to the assessee automatically in terms of section 240 of the income tax act, 1961 ('act'). according to the assessee, the payment of rs. 7.50 lakhs was actually made against the demand of block assessment but by mistake assessment year 1997-98 was mentioned in ..... to be in excess, then the assessee is entitled to refund. this principle has been recognized by the legislature while enacting the income tax act, 1961 by enacting the provisions relating to refund and interest thereon in chapter xix section 237 of the act which is relevant, for disposal of this appeal, provides as under: '237. if any person satisfies the assessing officer that the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1989)31ITD369(Mum.)
..... that the tax can be charged under the income-tax act. the income-tax act is a permanent act, whereas the finance act is passed every year and its main purpose is to fix the rates to be charged under the income-tax act for that year. that should be the construction is also made clear by section 55 of the income-tax act, whereunder super-tax shall be ..... authority of law. keeping this constitutional provision in mind, we have to consider the scheme of 1961 act with a view to finding out whether the assessee would be entitled to refund of the entire tax paid by it (whether byway of advance tax, t.d.s., self-assessment, completion of assessment, etc., etc.) on the ground that ..... of the hon'ble courts was not drawn to the scheme and ambit of various sections of the 1961 act like self-assessment (section 140a), assessment for refund (section 141a) as well as the fact that the advance tax and the tax deducted at source, whereunder the authority of law passed by the parliament. he, therefore, urged .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD625(Mum.)
..... categories of income are never closed. it would be impossible to define income precisely without excluding some species of it. the effect ..... 178 (pc), followed in maharj kumar gopal saran narain singh v. cit [1953] 3 itr 237 (pc), added by lord russell of killowen "that anything which can properly be described as income, is taxable under the act unless expressly exempted", the learned authors kanga and palkhivala on page 90 of their commentary on income-tax, 7th edn., vol.1, sum up the position thus : the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD566(Mum.)
..... cross appeals preferred by the assessee and the revenue.the assessment year involved is 1973-74. the controversy centres round the claim of the assessee under section 35b of the income-tax act, 1961 for weighted allowance of its expenditure under various heads.2. the assessee is solely engaged in the export of textile goods procured by it from mills and manufacturers in india .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)8ITD427(Mum.)
..... company. its assessment for the year was originally made under section 143(3) of the income-tax act, 1961 ('the act') on 29-3-1975 computing total income at rs. 1,19,82,982. since, according to the ito, the income of the assessee chargeable to tax had been underassessed on account of allowance of initial contribution to superannuation fund in full, ..... assessee to superannuation fund is not the initial contribution contemplated in section 36(1)(iv) of the act, rules 87 and 88 of the income-tax rules, 1962 ('the rules'), and notification no. so 3433, dated 21-10-1965, see taxmann's direct taxes circulars, vol. 1, 1980 edn., p. 206 issued by the cbdt. alternatively, he contended ..... he recorded a finding to that effect and issued notice under section 148 read with section 147(b) of the act on 22-9-1975, in response to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)1ITD303(Mum.)
..... will be ousted.21. even if we approach the question without reference to any authorities on the point, it appears to us that under the provisions of the income-tax act an order of assessment is one, single and indivisible composite order of the ito which involves determination of the various issues or points that arise in the course ..... important to notice another aspect of provisions relating to rectification of mistakes. the provisions of section 35 of the indian i.t. act, 1922, and the corresponding provisions of section 154 of the i.t. act, 1961, give a power of rectification to the commissioner, the aac and the ito only in respect of the orders passed by them. ..... and when such a case came up for consideration before the madras high court, the argument was not accepted in the case of c. gnanasundara nayagar v. cit [1961] 41 itr 375.20. our attention was also invited by the departmental representative to the gross injustice which he thought will cause to the revenue if the proposition .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD739(Mum.)
..... is made for allowance of certain expenditure in section 35, it cannot be an expenditure for the purposes of business within the meaning of section 37 of the income-tax act.11. having regard to the above discussion, we are, with respect to the special bench of the itat, madras, of the view that for the purpose ..... the object of bringing in the provisions of section 35 initially in 1946 by inserting clauses (xii), (xiii) and (xiv) in section 10(2) of the indian income-tax act, 1922, was to encourage expenditure on scientific research and not to merely provide accelerated depreciation on depreciable capital assets. it has to be borne in mind that these ..... spite of so many amendments of the provisions since 1946, in 1961, 1967, 1974, etc.9.3 the only argument in favour of the revenue's stand appears to be based on the following part of the statement of objects and reasons given while piloting the indian income-tax (amendment) act, 1946, for inserting these provisions [section 10(2)(xiv)] .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)7ITD666(Mum.)
..... co. ltd. [it appeal no. 1875 (bom.) of 1975]. the case of the assessee was that the conditions laid down in section 40a(7) of the income-tax act, 1961 ('the act') for getting the deduction for the provision for liability applied only to a case where provision for such liability was made in the books of account and so, those conditions ..... made on the basis that the provision for gratuity would be allowed as a deduction in the computation of income and the assessment for that year has been completed on that basis. the finance act, 1975, has amended the income-tax act retrospectively and under this amendment, deduction in respect of provision for gratuity payable to employees on retirement or termination ..... and proprivato commodo and to add force and life to the cure and remedy, according to the true intent of the makers of the act, pro bono publico. (pp. 621-22) in the case of cit v. g.r. karthikeyan [1980] 124 itr 85, the madras high court has observed as follows : ...the meaning of the word .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)1ITD539(Mum.)
..... 10 per cent on an ad hoc basis against the income earned by it. the claim of the assessee was that the income for the purpose of considering the question of deduction as required under section 11(2) of the income-tax act, 1961 ("the act") should be determined on commercial principles which would take ..... into consideration the depreciation admissible to it on the value of the assets owned by it. the ito negatived the claim of the asssessee on two grounds. he firstly held that the assessee was not carrying on any business and as the depreciation allowance was confined to only computation of income ..... dwarkadheesh charitable trust v. ito [1975] 98 itr 557 and cit v. bal utkarsh society [1979] 119 itr 137 (guj.) it was further submitted that section 12 of the act which fictionally treats voluntary contribution or donation as income would cover payments received by the trust voluntarily and the grant-in .....
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