Judgment Search Results Home > Cases Phrase: income tax act 1961 section 35cc omitted Court: himachal pradesh Page 1 of about 70 results (0.043 seconds)

H.P. Tourism Development Corporation Ltd. Vs. Commissioner of Income T ...

Court : Himachal Pradesh

..... the main question which arises for determination in this appeal is whether omission [deletion] of the second proviso to section 43-b of the income tax act, 1961, by the finance act, 2003, operates with effect from 1st april, 2004, or whether it operated retrospectively with effect from 1st april, 1988? 3 ..... to deletion of the second proviso by the finance act, 2003, the second proviso to section 43-b of the income tax act, 1961 [for short, 'the act'] restricted the deduction in respect of any sum payable by an employer by way of contribution to provident fund/superannuation fund or any other fund for the welfare of employees only to the amounts paid by the due date specified in the act under which the payment was made. ..... , by way of first proviso, an incentive/relaxation was sought to be given in respect of tax, duty, cess or fee by explicitly stating that if such tax, duty, cess or fee is paid before the date of filing of the return under the income tax act [due date], the assessee(s) then would be entitled to deduction. ..... 31st march [end of accounting year] but before filing of the returns under the income tax act and the date of payment falls after the due date under the employees' provident fund act, they will be denied deduction for all times. ..... 1.4.2004 vide which the second proviso to section 43b stands omitted, was not curative and hence not retrospective in operation relying upon only on the judgment of the hon'ble high court of madras and ignoring all other law on the same?2 .....

Mohan MeakIn Breweries Ltd. Vs. Commissioner of Income-tax (No. 2)

Court : Himachal Pradesh

..... government under the uttar pradesh (nagar kshettra) bhumi aur bhawan kar adhiniyam, 1962, in respect of the land and buildings used for the purposes of the company's business is an allowable revenue expenditure under the income-tax act, 1961 ?' 4. ..... 30,000 paid for the increase of the authorised capital of the company is an expenditure of revenue nature and an allowable deduction under the income-tax act, 1961 ? ..... if any such asset or advantage for the enduring benefit of the business is thus acquired or brought into existence it would be immaterial whether the source of the payment was the capital or the income of the concern or whether the payment was made once and for all or was made periodically. ..... so far as the second question is concerned, the same stands decided by our judgment given in income-tax reference no. ..... act, 1961.12. ..... act is an allowable revenue expenditure under section 37 of the i.t. ..... 30,000 made by the assessee for increase of its authorised capital is not an expenditure of revenue nature and, therefore, could not be treated as an allowable deduction under section 37 of the i.t. ..... of the company is raised, it results in an advantage of enduring nature and since the expenditure in question is made once and for all, the expenditure in question must be treated as of capital nature and, therefore, not liable to be deducted under section 37 of the i.t. ..... 30,000 as revenue expenditure incurred by it in the course of carrying on its business, under section 37(1) of the i.t. .....

Green World Corporation Vs. Income-tax Officer and ors.

Court : Himachal Pradesh

Reported in : I(2007)ACC441,2007ACJ1472,(2006)205CTR(HP)524,[2006]285ITR118(HP),2006(2)ShimLC22

..... the petitioner in the writ petition, and after hearing it, passed a detailed order dated july 12, 2004, holding that the firm had not been engaged in any manufacturing process at parwanoo, within the meaning of sections 80-ia and 80-ib of the income-tax act, inasmuch as it appeared to have not engaged between ten and twenty workers, no power had been used in the manufacturing process, the business transacted between the firm and a sister concern of the partners of the ..... the income-tax act, 1961, there are two provisions covering limitation for dealing with the cases of assessment, reassessment or recomputation of income in the matters like the present one. ..... then there is sub-section (2) of section 153 of the act of 1961, which says that no order of assessment, reassessment or recomputation shall be made, under section 147 after the expiry of one year from the end of the financial year in which notice under section 148 was served. ..... or revision but to some different assessment year.37 the aforesaid discussion pertaining to the interpretation of sections 150(1) and 153(2), excluding the operation of section 149, prescribing limitation for issue of notice, under section 148 and section 153(2) providing limitation for passing an order, under section 147, however, does not mean that the commissioner of income-tax, in exercise of his power, under section 263 of the income-tax act, cannot record a finding or give a direction for reopening the assessment pertaining to the assessment .....

Commissioner of Income Tax Vs. Maggronic Devices Pvt. Ltd.

Court : Himachal Pradesh

Reported in : (2010)228CTR(HP)241

..... 18,13,786/- cannot be treated as a royalty under the provisions of section 9 of the income tax act, 1961 and in allowing remittances without deduction of tax at source?.2. ..... to understand the rival contentions of the party, it would be necessary to make reference to section 5(2) of the income tax act which provides that if any person who is a non-resident derives any income in the previous year from whatever source and such income is received or is deemed to be received in india or accrues or arises to it in india the same shall be deemed to be income for the purpose of income tax act. ..... this reference under the income tax act, 1961 has been made to obtain the opinion of this court on the questions of law:i) whether on the facts and in the circumstances of the case, the itat was right in law in holding that the payment of 15 million yen ..... counsel for the assessee submits that what they have purchased is plant know how which is covered under the definition of 'plant' and the purchase was made in singapore and as such the payment is not income within the meaning of income tax act and tax could be deducted at source.9. ..... commissioner of income tax : 2001 (249) itr 418 in which the calcutta high court held that the sums received by the assessee for design and technical services for the construction work are in the nature of royalty which is taxable under the income tax act and do not constitute industrial and commercial profit. ..... constitute plant within the meaning of the income tax act. .....

Commissioner of Income Tax Vs. Gulshan Electric Store and Malhotra Jew ...

Court : Himachal Pradesh

..... to the other book profits by invoking section 40(b)(v) of the income tax act, 1961 which reads as follows:amounts not deductible.40 ..... was right in treating the amount surrendered during survey on account of excess stock and cash as 'book profit' for the purpose of computing salary/remuneration to the partners whereas as per definition provided in the income-tax act, 1961 the book profit means the net profit earned by the assessee during the relevant previous year?iii) whether on the facts and in the circumstances of the case, the hon'ble itat was right ..... it further held that the expression 'income' as used in section 69a of the income tax act had a wide meaning which meant anything which came in or resulted ..... that the book profit as defined in explanation 3 to section 40(b)(v) of the income tax act means the profit as computed under chapter iv-d of the act. ..... of the income tax act contains section 28 to ..... 172) itr 250 held that though the rigours of the evidence act may not be applicable to proceedings under the income tax act but this did not mean that if the taxing authorities desire to invoke principles of the evidence act, they were prevented from doing so. ..... language of section 69a, the bombay high court held that the onus of proving the source of a sum of money found to have been received by the assesse is on him and if the assessee disputes the liability to pay tax, it is for him to show that the receipt was not income or was exempt from taxation under the provisions of the act. .....

Commissioner of Income-tax Vs. H.P. State Forest Corporation

Court : Himachal Pradesh

Reported in : [2010]321ITR170(HP)

..... to appreciate the rival contention of the parties, it would be pertinent to refer to section 37(1) of the income-tax act, 1961, which reads as under:37(1). ..... commissioner of income-tax, delhi : 123 itr 429 the apex court was dealing with section 10(2)(xv) of the income-tax act, 1922, which is identical to section 37 of the income-tax act. ..... the authority has to allow deduction under section 37(1) of the income-tax act, wherever such examination reveals the concerned impost to be purely compensatory in nature. ..... commissioner of income-tax : 201 itr 684 and held as follows:therefore, whenever any statutory impost paid by an assessee by way of damages or penalty or interest is claimed as an allowable expenditure under section 37(1) of the income-tax act, the assessing authority is required to examine the scheme of the provisions of the relevant statute providing for payment of such impost notwithstanding the nomenclature of the impost as given by the statute, to find whether it is compensatory or penal in nature. ..... a bare perusal of section 37 of the income-tax act shows that when an expenditure is laid out wholly and exclusively for the purpose of business it can be deducted in computing the income under the head of profits and gains business. .....

Commissioner of Income Tax Vs. Teknika Components

Court : Himachal Pradesh

..... the facts of the above case show that the assessing officer had passed a detailed order holding that the firm had not been engaged in any manufacturing process at parwanoo, within the meaning of sections 80-1a and 80-1b of the income tax act, inasmuch as it appeared to have not engaged between ten to twenty workers, no power had been used in the manufacturing process, the business transacted between the firm and a sister concern of the partners of the firm ..... before we refer to the case law cited by the learned counsel for the appellant, we may reproduce the provisions of section 263 of the income tax act regarding the revision of orders prejudicial to revenue and the powers of the commissioner in this regard, which are relevant for the present ..... the commissioner of income tax ordered that only 5% of the total declared net profits of the assessee firm could be said to be its income from the business at parwanoo, with respect to which deduction under section 801b of the income tax act could be allowed and that the rest of the amount declared as net profits to the tune of 95% was the income of the firm from undisclosed sources and hence taxable under the relevant provisions of the income tax act. ..... parwanoo : (2009) 7 supreme court cases 69, shows that the powers of the commissioner under section 263 of the income tax act were considered and it was held that reopening of proceedings in terms of sections 147 and 148 of the income tax act cannot be initiated at any point of time. .....

Gian Chand Ashok Kumar and Company and ors. Vs. Union of India (Uoi) a ...

Court : Himachal Pradesh

Reported in : (1991)100CTR(HP)1,[1991]187ITR188(HP)

..... through this batch of writ petitions, the petitioners have challenged the validity of sections 44ac and 206c of the income-tax act, 1961. ..... explained in the notes on clauses in the finance bill, 1988, and clauses 15 and 40 are relevant on this aspect (see [ 1988] 170 itr 154 and 162) :'clause 15 seeks to insert a new section 44ac in the income-tax act.the new section provides for determination of the income of an assessee, being a buyer of any goods in the nature of alcoholic liquor for human consumption (other than indian-made foreign liquor) or any forest produce, scrap or waste, whether industrial or non ..... ''clause 40 seeks to insert a new sub-heading 'bb--collection at source' and a new section 206c after section 206b of the income-tax act.the new section provides that every person, being a seller referred to in section 44ac, shall at the time of debiting of the amount payable by the buyer referred to in that section to the account of the buyer or at the time of receipt of such amount from the buyer, collect from him a sum equal to twenty per cent. ..... as already observed, the union of india having received representations, moved a further amendment to section 44ac of the income-tax act by virtue of section 10 of the direct tax laws (amendment) act, 1989, which reads as under (see : [1989]176itr251(ker) ) :'10. .....

Lehnu Mal Ram Krishan Vs. Income-tax Officer and ors.

Court : Himachal Pradesh

Reported in : [1986]161ITR649(HP)

..... a notice under section 139(2) of the income-tax act, 1961, was served upon the petitioner on july 22, 1968, and the return could be filed till august 22, 1968.3. ..... thus, we are of the opinion that for a return which is filed under section 139(4) of the act, the income-tax authorities have jurisdiction to charge interest under proviso (iii) to section 139(1) of the act and we follow the view which has been taken in ramlal ramgopal agarwal's case : [1982]134itr338(mp) , indian telephone industries co-operative society ltd. ..... in august, 1966, a notice under section 142(1) of the act was issued to the assessee to produce his accounts but the assessee prayed for time which was not granted and the assessment was made under section 144 of the act by the income-tax officer to the best of his judgment. ..... in view of the above discussion, it is held that in case a return is filed under section 139(4) within the time allowed under section 139(4) of the act, then the income-tax authorities are competent to charge interest under proviso (iii) of section 139(1).31. ..... he referred to section 139(2) of the present act, as amended with effect from april 1, 1972, the relevant proviso of which reads as follows :'provided that, on an application made in the prescribed manner, the income-tax officer may, in his discretion, extend the date for furnishing the return, and, notwithstanding that the date is so extended, interest shall be chargeable in accordance with the provisions of sub-section (8).' 11. .....

Ram Lal Ishwar Dass and anr. Vs. Income-tax Officer, A-ward and anr.

Court : Himachal Pradesh

..... petitioner-firm has been regularly assessed under the income-tax act, 1961. ..... when the application under section 146 of the act came on before the income-tax officer, 'a' ward, mandi, the petitioners filed an application pointing out that their appeal had been disposed of on the merits by the appellate assistant commissioner and that, therefore, the application under section 146 of the act had become infructuous. ..... the income-tax officer, however, took the view that sections 146 and 250 of the act were indepen-dent of each other, and, therefore, the mere disposal of the appeal under section 250 did not make the application under section 146 ..... the income-tax officer could act under section 146 of the actand cancel the assessment only if an assessment order still remained on ..... also preferied an -appeal under section 246 of the act, before the appellate assistant commissioner of income-tax. ..... petitioners contend that as the appeal had been disposed of onthe merits by the appellate assistant commissioner the assessment ordermust be considered as having merged in the appellate order and as, therefore, the application under section 146 of the act for cancelling the assessment order had become infructuous the income-tax officer had nojurisdiction to make the impugned order. ..... holding that the assessee had been prevented by sufficient cause from complying with the notice issued under section 143(2), he made an order dated august 26, 1970, cancelling the assessment order and re-opened the .....