Court : Allahabad
..... this income tax appeal under section 260-a of the income tax act, 1961 arises out of the order of the income tax appellate tribunal, allahabad dated 30.6.2000 in income tax appeal no. ..... union of india and others (supra) the madras high court held that section 269ss of the act occurs in chapter xx-b deals with two different kinds of transactions, namely, loans and deposits. ..... the deputy commissioner of income tax imposed penalty under section 271-e of the act for alleged violation of section 269t, which provides for payment of an amount of rs. ..... " the fact as stated in the order under section 271-e dated 31.7.1997 in the case of assessee-appellant for the assessment year 1994-95 shows that no repayment was made by either cash, cheque or demand draft; a debit entry was made because of sale of shares in the ..... it was held that the word "loan" has been introduced in section 269-t for the first time in the year 2002 with effect from june 1, 2002. ..... the assessee-appellant could not make payment of interest and repayment of loans and also did not earn any profit on the investments. ..... - under the existing provisions of section 269t of the it act, no branch of a banking company, co-operative bank and no other company or co-operative society or partnership firm or other person, can repay any deposit made with such entity otherwise than by an account-payee cheque or an account-payee draft ..... the questions of law are decided in favour of assessee-appellant and against the revenue. .....
Tag this Judgment!Court : Allahabad
..... ') did not include the freight charges in the total turnover, so the proceedings, under section 10-b of the trade tax act (for short, 'the act') were started, which were later dropped by the concerned authority. ..... , the apex court observed as under: "when the transfer of the property or the goods is to be at the place of the buyer to which the seller is under an obligation to transport the goods, the expenditure incurred by the seller on freight in order to carry the goods from his place of manufacture to the place at which he is required under the contract to deliver, would thus become part of the amount for which the goods are sold by the seller to the ..... additional commissioner of trade tax, 2004 ntn (24) 384 (all), where it was observed that :- "it is well settled principle of law that the question which has been examined in detail in the original assessment proceedings and thereafter the assessment orders has passed, then the said assessment orders cannot been reopened under section 21 of the act merely on change of opinion. ..... further, the tribunal dismissed all the three revisions filed by the assessee and upheld the decision of first appellate authority. ..... in these circumstances, and, in the interest of justice, the matter is remanded back to the tribunal with a direction to determine as to whether the revisionist is a commission agent or a dealer by examining the relevant material. ..... it is the burden of the opposite-revenue party to show in which case ruling has been overruled. .....
Tag this Judgment!Court : Allahabad
..... interest paid under section 34 of the land acquisition act, 1894, on the amount of compensation awarded for the period from the date the collector has taken possession of land compulsorily acquired is interest paid for the delayed payment of the compensation and is therefore a revenue receipt liable to tax under the income-tax act ..... agra vide order dated 28.3.2003 and held that the interest payment awarded under section 171 of the motor vehicle act was nothing but interest and, therefore, subjected to the provisions of section 194a. ..... tax (appeals)-i, agra in his order dated 28.3.2003 has discussed most of the cases relating to interest on land acquisition cases which have also been cited by learned counsel for the ..... a civil court in relation to wrongful termination of employment has held as under:- "(i) that as there was no assessment by the income-tax officer of the tax due on the amount payable to the respondent under the decree, and an order under section 46(5) of the income-tax act could be passed only if income-tax had been assessed and remained unpaid, the income-tax officer had no authority to issue a notice under ..... ordinarily be construed according to the plain natural meaning of its language and that no words should be added, altered or modified unless it is plainly necessary to do so in order to prevent a provision from being unintelligible, absurd, unreasonable, unworkable or totally irreconcilable with the rest of the statute." 37. the necessary ingredients of .....
Tag this Judgment!Court : Allahabad
..... sub-section (5) of section 124 provides that, notwithstanding anything contained in the section or in any direction or order issued under section 120 every assessing officer shall have all the powers conferred by or under this act on an assessing officer in respect of income accruing or arising or received within the area, if any over which he has been vested with the jurisdiction by virtue of the directions or orders issued under sub-section (1) or sub-section (2) of section 120. 19. ..... even if it is assumed that the assessment is under section 144 read with section 145 (3) of the act, then also the assessment order is liable to be quashed as the same has been passed without complying the mandatory provisions of law. ..... shri ashok kumar appearing for the revenue submits that the petitioner company filed income tax returns at agra upto the assessment year 2000-01, and without any intimation filed return at delhi for the assessment year 2002-03. ..... however, it is hereby clarified that since the assessment in the case of the assessee has been made on protective basis, the penalty u/s 271 (1) (c) is also being imposed on protective basis with a view to safeguard the interest of revenue. ..... also directed interest to be calculated and challenged under section 243a, 243b, 243c and 243d, as per law and directed issue of notice of demand and challan. .....
Tag this Judgment!Court : Allahabad
..... petition under article 226 of the constitution of india feeling aggrieved with the impugned order passed under section 25 of the uttar pradesh value added tax act, 2008 (in short vat act) after remand of the matter by the trade tax tribunal, lucknow. ..... it is clear that two public interests are involved; promotion of the exports of the country is one public interest while augmentation of the state's revenues through sales tax is the other and it is obvious that if the liberal construction, is accepted the former public interest will undoubtedly be served while the latter will greatly suffer and if the narrow construction is accepted the latter public interest will be served and the former will ..... shall hamper the free movement of goods (natural gas) during interstate trade, and would be prejudicial to the freedom of trade, commerce and intercourse throughout the territory of india and the unity ..... (1) the declaration and the certificate referred to in sub-section (4) of section 8 shall be in forms c and d respectively; provided that form c in force before the commencement of the central sales tax (registration and turnover) (amendment) rules, 1974, or before the commencement of the central sales tax (registration and turnover) (amendment) rules, 1976, may also be used upto the [31st december, 1979] with suitable modifications:] provided further that a single declaration may ..... to reduce mdq under this clause 2.2 (c), exhibit b shall be revised accordingly to reflect such reduced mdq. .....
Tag this Judgment!Court : Allahabad
..... the court has therefore an obligation to not leave the dispute with a mere decision or a judgment but also to impose an exemplary penalty, which may not only act as a deterrent to prevent any further such mistakes that tend to destroy the faith of the public, but shall also help in discouraging any such mala-fide action to be undertaken ..... fails to allow a teacher to join or is otherwise resisting the valid appointment, the said provisions do not indicate that an authorised controller in public interest can be appointed superseding the committee of management in the manner in which it has been done in the present case. ..... of the fundamental rights guaranteed under the constitution, therefore, is under an obligation to rectify the error and to call upon the authorities to remind themselves of the aforesaid principles as said by shakespeare in act ii scene 4 in king lear quoted herein under: "o, sir, to wilful men the injuries that they themselves procure must be their school masters. ..... of management, saraswati inter college pipalheda, muzaffar nagar through its manager rajendra prasad has challenged the order dated 26th july, 2012 whereby the joint director of education saharnapur region saharanpur has appointed an authorised controller in the institution in public interest with immediate effect. 2. ..... act, 1921 is for superseding a committee of management on account of mal-administration and mis-management under section 16-d of the 1921 act. ..... scc 9; commissioner of income tax, mumbai vs. .....
Tag this Judgment!Court : Allahabad
..... or other proceeding of whatever nature relating to the said financial asset is pending by or against the bank or financial institution, save as provided in the third proviso to sub-section (1) of section 15 of the sick industrial companies (special provisions) act, 1985 (1 of 1986) the same shall not abate, or be discontinued or be, in any way, prejudicially affected by reason of the acquisition of financial asset by the securitisation company or reconstruction company, as the case may be, but the suit, appeal or other proceeding may be continued ..... and kotak mahindra bank referred to in the judgment is as follows:- "2.2 on and from the date of the agreement the assignee and the assignor hereby agree, undertake and confirm that notwithstanding (i) the costs, charges, expense, taxes and duties to be paid or incurred by the assignee towards the realization of the debt; and (ii) any settlement or compromise or restructuring of the debt or the status of the debt or creditworthiness of the clients, the amounts to be paid ..... mishra, learned counsel appearing for kotak mahindra bank has, however, supported the impugned orders and has submitted that in view of the terms and conditions contained in the assignment deed and the provisions of the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002 (hereinafter referred to as the 'securitisation act'), the debts recovery tribunal committed no illegality in allowing the application filed by kotak .....
Tag this Judgment!Court : Allahabad
..... the certificate will be issued for the recovery as arrears of land revenue only if, as required by subsection (3) of section 168 of the act the insured fails to deposit the amount awarded in favour of the insurer within thirty days from the date of announcement of the award by the tribunal ..... as regards the submission made by sri avanish mishra that the interest of the appellantinsurance company should be protected as against the owners of the vehicle in question (respondent nos ..... in view of the above findings, the tribunal passed the impugned judgment and order/award dated 6.8.2011, interalia, awarding to the claimant respondent nos. ..... the present appeal has been filed under section 173 of the motor vehicles act, 1988, against the judgment and order/award dated 6.8.2011 passed by the motor accidents claims tribunal, kanpur nagar in motor accident claim case no ..... the executing court shall pass appropriate orders in accordance with law as to the manner in which the owner of the vehicle shall make payment to the ..... the executing court shall pass appropriate orders in accordance with law as to the manner in which the insured, owner of the vehicle shall make payment to the ..... that notice the court may direct the attachment of the offending vehicle as part of the security and could also pass appropriate orders in accordance with law. ..... , on the facts and in the circumstances of the case, there will be no order as to costs. ..... appeal is disposed of in the aforesaid terms, with no order as to costs. .....
Tag this Judgment!Court : Allahabad
..... these three income tax appeals under section 260a of the income tax act, 1961 (the act) filed by the appellant-assessee, are directed against common order of the income tax appellate tribunal dated 31st december, 2001 deciding income tax appeal nos.2038 (a) of 1995; 220 (a) of 1997 and 728 (a) of 1999 for the assessment years ..... way of conversion by the owner of a capital asset into, or its treatment by him as, stock-in-trade of a business carried on by him shall be chargeable to income-tax as his income of the previous year in which such stock-in-trade is sold or otherwise transferred by him and, for the purposes of section 48, the fair market value of the asset on the date of such conversion or treatment shall be deemed to be the full value of the consideration received or accruing as a ..... they correctly adopted a method, which was fair and reasonable in arriving at a value of land as on 1.4.1974 to be notional cost of acquisition and applying the depreciated value by 10% of every year for the purposes of arriving at ..... shri dhananjay awasthi appearing for the revenue submits that the appellant was engaged in the ..... at rs.23,569/-, business income at rs.48,900/- and salary as shown in the return of rs.15,950/-; he thus assessed the assessee at rs.88,420/- and directed interest to be charged under section 234a, 234b and 234c. ..... thus decided in favour of the revenue and against the assessee. 14 ..... that he had acquired the land by inheritance, or had matured the right under the revenue laws. .....
Tag this Judgment!Court : Allahabad
..... the discussion made as above which support my finding that dearness relief is covered under the definition of profits in lieu of salary as contained under section 17 (3) (ii) of the act: (i) 'profits in lieu of salary', is income as per section 2 (24) (iii) of the income-tax act; (ii) by virtue of section 17 (1) (iv) salary includes profits in lieu of salary; and (iii) the definition of 'profits in lieu of salary' under section 17 (3) (ii) is all embracive and omnibus and brings within its sweep "any payment due to or received by an assessee from an employer or a former ..... tax appeal he is aggrieved by the order of the income tax appellate tribunal, delhi bench; smc-vi, new delhi in ita no.1263/del/2003, for the assessment year 1998-99, dated 10th june, 2004 dismissing the appeal of the assessee with the findings that the 'dearness relief' is covered within the expression, 'any payment received from a former employer by the assessee', and would be included in the definition of, 'profits in lieu of salary', to be taxed under section 17 (3) (ii) of the income tax act ..... he allowed credit for prepaid tax, and directed charging of interest under section 234b and 234c as per rules. ..... during the course of assessment proceedings he filed revised return on 6.9.2000 disclosing the income of rs.1,72,800/- as general in the original return. ..... jain submits that dearness relief is not a revenue receipt. ..... the questions raised are thus decided against the assessee and in favour of the revenue. 12. .....
Tag this Judgment!