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Asstt. Cit Vs. Crystal Granite and Marble Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... supreme court has been dismissed, it may be relevant to mention that the said judgment was rendered in the context of the provisions of section 115ja of the income tax act which has ceased to be effective from the assessment year 1991-92. in section 115j, there was no provision similar to sub-section (4) in section ..... ., would apply in respect of the provisions of section 115ja. for the matters not provided in section 115ja, one has to turn to other provisions of the income tax act which have been made mutatis mutandis applicable to the assessees falling under section 115ja.6. next issue for consideration is as to whether the provisions relating to payment ..... sub-section (4) has two critical limbs: one, it provides primacy to the matters covered by section 115ja; and, two, it makes other provisions of the income tax act applicable to the assessees falling under section 115ja. we shall now concentrate as to what section 115ja provides for. on careful analysis of section 115ja, it is quite .....

Westward Television Ltd. Vs. Hart (inspector of Taxes).

Court : Kolkata

Reported in : [1969]71ITR489(Cal)

..... that no part of the loss incurred by the taxpayer company in the year of assessment 1960-61 had been relieved in the years of assessment 1961-62 and 1962-63 under section 342 of the income tax act, 1952, and that, in consequence, pounds 101,214 of such loss remained to be relieved under the same section against the companys trading ..... fell to be deducted from the losses available to be carried forward and set off against the assessable profits of subsequent tax year under section 342 of the income tax act, 1952.(4) the taxpayer fell to be assessed to tax for the year 1961-62 being the second year in which it carried on its trade, by reference to the profits (if any) ..... 328. the taxpayer on account of interest paid by it under deduction of tax in the years 1961-62, 1962-63, 1963-64 and 1964-65, in respect of which it had been assessed to tax under section 170 of the income tax act, 1952.(9) the taxpayer was assessed to tax for the year 1965-66 by reference to the profits of its accounting .....

P. Mohanreddy and ors. Vs. Debts Recovery Appellate Tribunal and ors.

Court : Andhra Pradesh

Reported in : AIR2004AP94; 2004(1)ALD199; 2004(1)ALT417; II(2004)BC76; (2004)189CTR(AP)256

..... method and manner of conducting sale of the property except section 29, which reads:application of certain provisions of income tax act:--the provisions of the second and third schedules to the income-tax act, 1961 (43 of 1961) and the income-tax (certificate proceedings) rules, 1962, as in force from time to time shall, as far as possible, ..... qua the property in question filed this writ petition on 27.12.1999 without resorting to the remedy provided in the second schedule to the income tax act, 1961 and income tax (certificate proceedings) rules, 1962. in the aforementioned background, we will have to notice the grounds on which the petitioners | have come forward ..... and the rules to the 'assessee' shall be construed as a reference to the defendant under mis act. 28. aforementioned provision in the act makes the second and third schedules to the income-tax act, 1961 and the income-tax (certificate proceedings rules) 1962 as in force from time to time applicable to the extent possible with .....

The Commissioner of Income-tax Vs. Nawab of Rampur

Court : Allahabad

Reported in : AIR1966All440; [1966]62ITR1(All)

..... taxation was not one of the subjects acceded by him to the dominion of india. as regards the income which could be taxed under the rampur income-tax act it continued to be immune. as regards the income which could be taxed under the indian income-tax act on account of its having accrued to him in the dominion of india he claimed that on the ..... decide it and not evade deciding it.13. in the cases of jagannath behera : air1958sc239 (supra), sri sudhansu shekhar singh deo v. state of orissa : [1961]41itr743(sc) and commr. of income-tax, andhra pradesh v. h. e. h. mir osman ali khan, civil appeal no. 46 of 1964, decided by the supreme court on 25-10-1965 ..... , same immunities, same dignities and same titles', the words actually used were the words to be used.the merger agreement in the case of sudhansu shekhar singh deo : [1961]41itr743(sc) (supra) used the words 'the personal rights, privileges, dignities and titles' and it was held by the supreme court that the privileges guaranteed by it were .....

Union of India (Uoi) and anr. Vs. Azadi Bachao Andolan and anr.

Court : Supreme Court of India

Reported in : (2004)1CompLJ50(SC); (2003)184CTR(SC)450; [2003]263ITR707(SC); JT2003(Suppl2)SC205; 2003(8)SCALE287; (2004)10SCC1

..... carrying on no business there; they are, in fact, prevented from earning any income there; they are not liable to income tax on capital gains under the mauritius income-tax act. they are liable to pay income-tax under indian income-tax act, 1961, since they do not pay any income-tax on capital gains in mauritius, hence, they are not entitled to the benefit ..... entities are really resident by investigating the center of their management and thereafter to apply the provisions of income-tax act, 1961 to the global income earned by them by reason of sections 4 and 5. of the income-tax act 1961.81. it is urged by the learned attorney general and shri salve for the appellants that the phrase ..... law. in the situation where the terms of the dtac have been made applicable by reason of section 90 of the income-tax act, 1961, even if they derogate from the provisions of the income-tax act, it is not possible to say that this principle of lifting the veil of incorporation should be applied by the court .....

Cit Vs. Kotak Mahindra Finance Ltd.

Court : Mumbai

Reported in : [2003]130TAXMAN730(Bom)

..... 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 .....

The Commissioner of Income-tax, Madras Vs. S.S. Sivan Pillai and ors.

Court : Supreme Court of India

Reported in : (1970)2SCC180

..... . under the scheme of section 15-c the profits or gains of an industrial undertaking must be determined under and in the manner provided by section 10 of the income tax act. for that purpose all the allowances under sub-section (2) must be taken into account, and the resultant amount forms a component of the taxable profit. if by ..... -section (1) of section 15-c are not business profits: they are taxable profits computed in accordance with the provisions of section 10 of the income tax act. under section 15-c(1) no tax is payable by the industrial undertaking on its taxable profits equal to six per cent per annum of the capital employed. sub-section (4) of ..... profits, for the depreciation for the current and the previous years amounted to rs 2,83,343 which was an admissible allowance in the computation of income under section 10 of the income tax act. since full effect could not be given to the allowance, the company was entitled to add to the depreciation for the following year the unabsorbed .....

Bharat Commerce and Industries Ltd. Vs. the Commissioner of Income-tax

Court : Delhi

Reported in : (1985)45CTR(Del)1; [1985]153ITR275(Delhi)

..... other sources for the purposes of its business and the interest paid on this borrowed amount would have been deductible under section 36(l)(iii) of the income-tax act. counsel further contended that the intention of the legislature was amply made clear by the subsequent insertion of section 80v which permitted deduction of interest on money ..... rs. 1.15,809.the assessed claimed deduction of this interest amount ofrs. 1,15,809'- under section 37 of the income-tax act. 1961in computing the business profits. the appellate assistant commissioner of income-tax held that the interest was not paid in respect of the capital borrowed for the purposes of the asscssecsbusiness. the assessed went ..... the purposes of its business the interest paid under section 139 and section 215 should be allowed as deduction under section 37 of the income-tax act. counsel submitted that the unpaid amount of tax was rs. 34.37.819/ and the said amount was used by the assessed for the purposes of its business. it was .....

Her Highness Setu Parvati Bayi, Maharani of Travancore Vs. Commissione ...

Court : Kerala

Reported in : (1988)68CTR(Ker)189; [1988]170ITR197(Ker)

..... and paid to her as net dividend a sum of rs. 1,11,696 after deducting at source of rs. 34,559 under section 194 of the income-tax act, 1961. the wealth-tax officer treated the total sum of rs. 1,50,255, being the gross dividend, as an accretion to the net wealth of the assessee during the relevant ..... the revenue, referring to the definition of 'net wealth' under the wealth-tax act and various decisions concerning that provision, submits that, in so far as no demand had been made on the assessee for payment of income-tax, the tax deducted at source under section 194 of the income-tax act was not a 'debt owed' by the assessee for the purpose of ..... year and the assessee was assessed on that basis. aggrieved by this decision, the assessee appealed contending that the tax deducted at source under section 194 of the income-tax act was not part of her assets and, therefore, not includible in her net wealth for the purpose of assessment under the wealth .....

Commissioner of Wealth-tax Vs. Vikram Swarup

Court : Kolkata

Reported in : [1993]202ITR889(Cal)

..... assets in the balance-sheet shall not be treated as assets, namely : -- (a) any amount paid as advance tax under section 18a of the indian income-tax act, 1922 (11 of 1922), or under section 210 of the income-tax act, 1961 (43 of 1961). ...' 48. sub-clause (b) of clause (i) of explanation ii is not material for the purposes of this ..... in the balance-sheet shall not be treated as assets, namely : (a) any amount paid as advance tax under section 18a of the indian income-tax act, 1922 (11 of 1922), or under section 210 of the income-tax act, 1961 (43 of 1961) ; (b) any amount shown in the balance-sheet including the debit balance of the profit and loss ..... in clause (i)(a)' refer to the provision for taxation other than the provision for advance tax ; they do not mean the amount paid as advance tax under section 18a of the indian income-tax act, 1922, or section 210 of the income-tax act, 1961. while considering the provision for taxation, it must be ascertained that there is no provision for .....