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Cit Vs. Sita Ram Rameshwar Prasad

Court : Rajasthan

Reported in : (2002)175CTR(Raj)168

..... and in the circumstances of the case, the tribunal erred in law in holding that no disallowance was to be made under section 43b of the income tax act, 1961, in respect of outstanding sales-tax liability of rs. 34,576 shown in the balance-sheet at the end of the relevant accounting year as the said liability had been discharged by ..... and in the circumstances of the case, the tribunal erred in law in holding that no disallowance was to be made under section 43b of the income tax act, 1961, in respect of outstanding sales-tax liability of rs. 2,210 shown in the balance-sheet at the end of the relevant accounting year as the said liability had been discharged by ..... and in the circumstances of the case, the tribunal erred in law in holding that no disallowance was to be made under section 43b of the income tax act, 1961, in respect of outstanding sales-tax liability of rs. 9,267 shown in the balance-sheet at the end of the relevant accounting year as the said liability had been discharged by .....

Indian Seamless Enterprises Limited

Court : Mumbai

..... ? 12. at this stage it will also be apposite to notice the definition of dividend ? as contained in the income tax act, 1922 and the income tax act, 1961. the definition of dividend ? contained in the income tax act, 1922 is as follows: "2. in this act, unless there is anything repugnant in the subject or context 6(a) dividend ? includes ? the definition of ..... 07 and ay 2007-08 respectively. iii) penalty proceedings in respect of ays 2006-07 to 2012-13. 29. relying upon section 281 of the income tax act, 1961, the income tax department has contended that the gift of the shares of taal by the petitioner to its shareholders as proposed under the scheme is void. it is ..... shares of taal by the petitioner company to its shareholders constitutes dividend as specifically defined in the various sub-clauses of section 2(22) of the income tax act, 1961. 13. i will first consider the argument of mr. tulzapurkar that the petitioner company is conferred with the widest powers to formulate any kind of .....

Andhra Pradesh Power Co-ordination Committee and Others Vs. Andhra Pra ...

Court : Appellate Tribunal for Electricity APTEL

..... the honble aptel has ultimately held: (i) the definition of law and change in law as per the ppa would clearly establish that the amendment of income tax act, 1961 by introduction of section 115 jb by legislature squarely falls under the definition of change in law under clause 20.21 of the ppa. (ii) the appellant is entitled to ..... kondapalli would not be entitled to claim the amount made under the mat in respect of the period 2006 to 2009 as they have availed the tax holiday under section 80-ia of income tax act, 1961 and as such the impugned order is wrong. 11. on this point, we have heard both the learned counsel for the appellant and the ..... has been categorically held that the jai prakash power ventures, the appellant is entitled to payment of mat as per actuals during the tax holiday period availed by appellant under section 80-ia of the income tax act, 1961. the findings in this matter also attained finality as the ratio decided in that case has not been set aside. this finding .....

Commissioner of Income-tax, Delhi and Rajasthan Vs. Bharat Carbon and ...

Court : Supreme Court of India

Reported in : AIR1966SC1561; [1966]60ITR91(SC); [1966]3SCR170

..... ,916. it is common ground that theassessee had paid advance tax under section 18-a of the indian income tax actto the tune of rs. 36,783/6/- between june, 1946 and march, 1947. this tax waspaid under the indian income-tax act to the income-tax officer, lahore.' 4. the income-tax officer iii, additional business circle, new delhi, by hisorder ..... that what may have beendone by the pakistan authorities in january, 1948, cannot be called aproceeding under the indian income tax act and the fact that the money paid bythe assessee under the indian income tax act may have been seized by thepakistan authorities or disposed of in some other manner, can in no way affectthe right ..... to consider the interpretation of s. 9of the indian independence (rights, property and liabilities) order, 1947. byvirtue of the simultaneous application of the indian income tax act in both thedominions, there was a statutory modification of the incidents of the advancetax paid by the assessee. 14. in the result we hold that .....

Rajasthan Communication Ltd. Vs. Union of India (Uoi) and ors.

Court : Rajasthan

Reported in : [2000]244ITR636(Raj)

..... of 1993 the merits of waiver were not considered at all, but had been dismissed because of non-compliance with certain provisions of section 273a of the income-tax act. in any case, if those provisions of section 273a have been complied with fully or partially, it was fit case where the commissioner ought to havedecided ..... commissioner that the excess payment has been made and thus waiver application be reconsidered.6. the deputy commissioner of income-tax vide its letter dated ]uly 27, 1993, while passing the order under section 154 of the income-tax act had observed that even the calculation of interest (up to that date) has been wrongly made and the ..... annexure-12 dated february 25, 1994, the waiver of interest under section 220(2a) of the income-tax act had been rejected. these two orders are being challenged by the petitioner.7. while exercising powers under section 273a of the income-tax act, the commissioner did observe in the order dated november 25, 1992, that because of the reason .....

Bhawanidas Binani Vs. Commissioner of Wealth-tax

Court : Mumbai

Reported in : [1980]124ITR783(Bom)

..... particular item of income is completely alien to the income-tax act. in fact, it would be wholly inappropriate under the income-tax act to speak of quantification of tax liability on a particular item of income. the charge of income-tax referred to ..... as also against the scheme of the income-tax act. in the first place, the charge under the income-tax act is on the total income of the previous year and not on any particular item of income. section 3 of the indian income-tax act, 1922, as also section 4 of the income-tax act, 1961, do not levy the charge of income-tax on a particular item of income. the concept of a charge on a .....

The Commissioner of Income-tax Vs. Kotak Mahindra Finance Limited

Court : Mumbai

Reported in : (2003)183CTR(Bom)491; [2004]265ITR119(Bom); 2003(3)MhLj876

..... tax. under section 207 of the income-tax act, advance tax is payable during any financial year in respect of the current income. the words 'current income' are very crucial. the words 'current income' refer to computation of total income under the provisions of the income-tax act including section 115j. under section 207 of the income-tax act, the words 'total income ..... ' have been equated to the expression 'current income ..... shall apply. that, section 234b and section 234c have not curved out any exceptions for section 115j of the income-tax act. he, therefore, contended that in this case both sections 234b and 234c are applicable. mr. irani learned counsel .....

Commissioner of Income-tax Vs. Smt. Indermani Jatia

Court : Allahabad

Reported in : [1970]77ITR133(All)

..... & co. referred to above. in that case the assessee was a dealer in securities which constituted its stock-in-trade. the assessee had been charged to tax under the indian income-tax act, 1918, in respect of its business. in the years 1946 and 1947 the assessee had received the sums of rs. 4,13,992 and rs. 1, ..... facts are these. the late ganga sagar jatia carried on business of cotton ginning and commission agency in cotton and he had also income from property and dividends. he was an assessee under the income-tax act of 1918 (act vii of 1918). he died on september 22, 1944, leaving behind him his widow, smt. indermani jatia, but no issues. smt ..... t.p. mukerjee, j. 1. this is a reference by the appellate tribunal, at the instance of the commissioner of income-tax, lucknow, under section 66(1) of the indian income-tax act, 1922, (hereinafter referred to as 'the act'). the statement of the case relates to the assessment year 1945-46. the relevant previous year ended on october 15, 1944.2. .....

Commissioner of Income Tax-ii, Lucknow Vs. Sahara Airlines Ltd.

Court : Allahabad

Reported in : [2006]152TAXMAN646(All)

..... substantial question of law which arose for consideration is to the effect, whether the assessee, who has not deducted the tax at source, can still be levied penalty under section 272a(2)(g) of the income tax act for not issuing the certificates of tax deducted, as per the requirement of section 203.3. the assessing officer as well as the commissioner (appeals) levied the ..... penalty under the aforesaid provision whereas the income tax appellate tribunal has condoned the said penalty after holding that since the tax was not deducted at source, the penalty .....

Travancore Titanium Products Ltd. Vs. Commissioner of Income-tax, Kera ...

Court : Supreme Court of India

Reported in : AIR1966SC1250; [1966]60ITR277(SC); [1966]3SCR321

..... relation between the business and the expenditure. in adjudicating upon the claim that an outgoing is a permissible deduction under s. 10(2)(xv) of the income-tax act, the primary question is whether in the light of accepted commercial practice, trading principles and the relation between the business and the outgoing, the outgoing can ..... exemption is given to a company which has incurred in any year loss computed in accordance with sections 8, 9, 10 and 12 of the income-tax act without referring to depreciation allowances and development rebates and without taking into account the losses brought forward from the earlier years, and which has not declared ..... v. abdullbhai abdulkadar. : [1961]41itr545(sc) .8. in a recent judgment of this court in commissioner of income-tax, kerala v. malayalam plantations ltd. : [1964]53itr140(sc) certain amounts paid as estate duty under s. 84 of the estate duty act, 1953, by a resident company incorporated outside india on the death of shareholders not .....