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M. Chockalingam and anr. Vs. Commissioner of Income-tax, Madras and an ...

Court : Supreme Court of India

Reported in : AIR1963SC1456; [1963]48ITR34(SC); (1963)IMLJ65(SC); [1963]Supp1SCR599

..... the appellants had not paid advance tax according to their own estimate of the income for these two years and they were liable to penal interest under section 18a(8) of the income-tax act. ..... each of the appellants had filed two such petitions for the assessment years 1951-52 and 1952-53 in respect of which they were ordered to pay penal interest under section 18a(8) of the income-tax act. ..... that if in any year in assessee has paid advance tax under sub-section (2) or (3) on the basis of his own estimate and the tax so paid is less than eighty per cent of the tax determined on the basis of the regular assessment, so far as such tax relates to income to which the provisions of section 18 do not apply, and if it is not due to any variation in the rate of tax, simple interest at the rate of six per cent per annum from the 1st day of january in the year ..... the income-tax officer may reduce or waive the interest payable under section 18a in the cases and under the circumstances mentioned below, namely :- (1) where the relevant assessment is completed more than one year after the submission of the return, the delay in assessment not being attributable to the assessee. ..... section 35 which deals with the rectification of mistakes provides that the income-tax officer (among other officers) may at any time within four years from the date of any assessment order etc. .....

Commissioner of Income-tax Vs. Hyderabad Allwyn Metal Works Ltd.

Court : Andhra Pradesh

Reported in : (1988)72CTR(AP)2; [1988]172ITR113(AP)

..... under section 256(1) of the income-tax act, 1961, in which the following two questions are referred for the opinion of this court : '(1) whether, on the facts and in the circumstances of the case, the interest paid under section 14b of the employees' provident funds act, 1952, is an allowable deduction under the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, interest paid on account of delayed payment of sales tax is an allowable deduction under the income-tax act, ..... that a portion of the interest paid on account of delayed payment of sales tax under section 36(3) of the bombay sales tax act is allowable deduction under the income-tax act. ..... of any contribution to the fund, the family fund or the insurance fund or in the transfer of accumulations required to be transferred by him under sub-section (2) of section 15 or sub-section (5) of section 17 or in the payment of any charges payable under any other provision of this act or of any scheme or insurance scheme or under any of the conditions specified under section 17, the central provident fund commissioner or such other officer as may be authorised by the central government, by notification in the official gazette, in this ..... sub-section (2) of the said section, the tax has to be paid by the registered dealer into the government treasury along with the return to be filed by him under section 32 of the said act. ..... section 38 of that act provides for the payment of, and deferred payment of, tax, etc .....

Unit Trust of India, Mumbai and anr. Vs. P.K. Unny and ors.

Court : Mumbai

Reported in : 2001(3)BomCR673; 2002(1)MhLj301

..... whether, on the facts and circumstances of the case, the department was right in invoking section 10(a) of the interest tax act, 1974 for failure on the part of uti to file returns under the interest tax act, 1974? ..... (c)whether, on the facts and circumstances of the case, the department wasright in invoking section 10(a) of the interest-tax act, 1974, forfailure on the part of the uti to file returns under the interest-taxact, 1974 ? ..... (iv) findings of the court on the question of conflict between section 32 of the uti act, 1963 and the interest tax act, 1974: in view of our discussion hereinabove, there is no conflict between section 32 of the uti act and the provisions of the interest tax act 1974. ..... questionsanswers (a) whether the interest-tax under the interest-tax act, 1974, isa tax on income and, if so, whether interest accruing to the uti fromloans advanced by it stands exempted in view of section 32 of the utiact, 1963 ..... whether the interest tax under the interest tax act, 1974 is a tax on income and, if so, whether interest accruing to uti from loans advanced by it stands exempted in view of section 22 of the uti act, 1963? b ..... on 5th january, 1971 cbdt issued an advertisement in which it stated that if the original return filed by the assessee is false, the assessee may file a revised return to avoid the consequences of discovery. ..... he contended that, in the past, circulars have been issued by cbdt in and for giving benefit to individual assessees also, like railways, rss, etc. .....

Unit Trust of India and anr. Vs. P.K. Unny and ors.

Court : Mumbai

Reported in : (2001)168CTR(Bom)99; [2001]249ITR612(Bom)

..... whether, on the facts and circumstances of the case, the department was right in invoking section 10(a) of the interest-tax act, 1974, for failure on the part of the uti to file returns under the interest-tax act, 1974 ? ..... on the facts and circumstances of the case, the department wasright in invoking section 10(a) of the interest-tax act, 1974, forfailure on the part of the uti to file returns under the interest-taxact, 1974 ? ..... in conclusion, he contended that section 32 of the uti act is a special provision as it governs the entire tax liability of the uti act whereas the interest-tax act is a general provision and, accordingly, he contended that the uti act will override the interest-tax act.findings :questionsanswers (a) whether the interest-tax under the interest-tax act, 1974, isa tax on income and, if so, whether interest accruing to the uti fromloans advanced by it stands exempted in view of section 32 of the utiact, 1963 ..... (iii) that the impugned notices dated december 21, 2000, issued under section 10(a) of the interest-tax act, 1974, in respect of the accounting years 1991-92 up to 1998-99 are invalid in law and are hereby ..... 5, 1971, the cbdt issued an advertisement in which it stated that if the original return filed by the assessee is false, the assessee may file a revised return to avoid the consequences of discovery. ..... that in the past, circulars have been issued by the cbdt in and for giving benefit to individual assessees also, like the railways, the rss, etc. .....

Bharat Heavy Electricals Limited Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Reported in : [2001]252ITR316(AP)

..... whether, in the facts and circumstances of the case, the income-tax appellate tribunal is correct in holding that the assessee-company is liable to pay tax on interest subsidy provided to its employees in accordance with the provisions of section 201 of the income-tax act, though the asses-see-company was under honest belief that interest subsidy is not inclu-dible as perquisite ?' 5. ..... whether, in the facts and in the circumstances of the case, the income-tax appellate tribunal is correct in holding that the assessee-company is liable to pay tax on interest subsidy provided to its employees in accordance with the provisions of section 201 of the income-tax act, though the assessee-company was under honest belief that such interest subsidy is not includible as perquisite ? 5. ..... whether, in the facts and in the circumstances of the case, the income-tax appellate tribunal is correct in holding that the income-tax officer can pass an order under section 201 of the income-tax act inspite of the fact that the employees filed returns of income separately before the assessing officer having jurisdiction ? 6. ..... the annual returns filed by the assessee-company indicates that its employees were in receipt of interest subsidy which was excluded from the respective salary receipts, for the purposes of computing the tax deductible from their salaries. .....

A. P. Kuruvilla and Co. and Others Vs. Central Board of Direct Taxes a ...

Court : Kerala

Reported in : (1995)127CTR(Ker)228; [1995]214ITR183(Ker)

..... all the three firms, before the central board of direct taxes for waiver of interest imposed as per sections 234a and 234b of the income-tax act concerning the income from the abkari business conducted by the three ..... for the income-tax department also.the matter relates to waiver of interest under sections 234a and 234b of the income-tax act, 1961. ..... p-3 and p-4, the petitioners were given instalment facilities for payment of the tax demands raised under section 143(1)(a) of the income-tax act. ..... it has to be noted that there is no express power of review in the income-tax act authorising the deputy commissioner of income-tax to review the order passed in a stay application. ..... the interest portion of the demand raised under section 143(1)(a) ..... it is stated that the deputy commissioner of income-tax has ordered instalment facility for payment of the tax portion of the demand raised under section 143(1)(a) and, accordingly, the tax portion, viz., rs. ..... i, therefore, quash exhibit p-5 and there will be a direction to the central board of direct taxes to pass orders on exhibit p-1 representation as expeditiously as possible and pending disposal of exhibit p-1 as aforesaid, exhibits p-2 to p-4 will stand revived.the original petition is ..... the fact that the petitioners have complied with the conditions in exhibits p-2 to p-4, i am of the opinion that the stay against the recovery of interest shall continue pending disposal of exhibit p-1 application before the central board of direct taxes. .....

Ashok Vardhan Birla Vs. Commissioner of Wealth-tax

Court : Mumbai

Reported in : 1992(3)BomCR645; [1994]208ITR958(Bom)

..... it was urged by him that though, under section 23(4)(a) of the wealth-tax act, 'the appellate assistant commissioner may - at the hearing of an appeal, allow an appellant to go into any ground of appeal not specified in the grounds of appeal', there is in fact no discretion given to the ..... of the case, the tribunal was right and justified in not permitting the assessee to raise before it the additional ground that the wealth-tax officer erred in including the total value of assets in ashok kumar birla trust instead of the capitalised value of his interest in his income of the said trust, as forming part of his wealth for the purpose of assessment under the wealth-tax act, 1957 ? ..... circumstances of the case, the tribunal was right and justified in not permitting the assessee to raise before it the additional ground that the wealth-tax officer erred in including the total value of assets in ashok kumar birla trust instead of the capitalised value of his interest in the income of the said trust, as forming part of his wealth for the purpose of assessment under the wealth-tax act, 1975 ?' 13. ..... case, the tribunal was right and justified in law in not permitting the assessee to raise before it additional ground that the learned wealth-tax officer erred in including the total value of assets in ashok kumar birla trust instead of the capitalised value of his interest in the income of the said trust as per the provisions of the trust deed, as forming part of his wealth for the purpose .....

Commissioner of Income Tax. Vs. Ms.Amal Generators Ltd.

Court : Chennai

..... in exercise of the jurisdiction under section 263 of the income tax act, the commissioner of income tax (appeals) sought to revise the order, placing reliance on the decision of the income tax appellate tribunal, special bench, mumbai reported in [1996] 217 itr itat reports 51 (cadell weaving ..... the facts and in the circumstances of the case the tribunal was right in not considering the applicability of the amendment to section 55(2) of the income tax act whereby the cost of acquisition of tenancy rights is stated to be nil?4. ..... raised now before this court are concerned, we do not think that they deserve any consideration, considering the fact position which was admitted by the commissioner while passing the order under section 263 of the income tax act.in the result, the tax case appeal stands dismissed. ..... prayer: tax case appeal filed under section 260a of the income tax act against the order of the income tax appellate tribunal, madras "b" bench dated 31.05.2002 in i.t.a.no.629/mds/1999 relating to the assessment year 1994-95.judgment(judgment of the court was delivered by ..... a matter of record that the only ground on which the commissioner exercised his jurisdiction to interfere with the order was that the assessee was not having any right to transfer its interest in tenancy and hence, rights being personal, the compensation received has to be considered as income assessable at the hands of the assessee.10. ..... admittedly, after 1974, there was no renewal of the lease in favour of .....

State Bank of Patiala Vs. Commissioner of Income Tax and anr.

Court : Punjab and Haryana

Reported in : [1999]239ITR421(P& H); (1999)122PLR472

..... 8,33,90,936 was payable under the interest-tax act, 1974. ..... 21 of the interest-tax act, treated to be the provisions in the interest-tax act also, both the refund due to a person as well as the tax demand payable by that person should arise under the interest-tax act. 12. ..... - the provisions of the following sections and schedules of the it act and the it (certificate proceedings) rules, 1962, as in force from time to time, shall apply with necessary modifications as if the said provisions and the rules referred to interest-tax instead of to income-tax : 2(44), 129, 131, 132, 132a, 132b, 133 to 136 (both inclusive), 138, 140, 145, 156, 160, 161, 162, 163, 166, 167, 170, 173, 175, 176, 178, 179, 220 to 227 (both inclusive), 228a ..... petitioner filed on 30th december, 1993, the annual return of interest-tax for the asst. yr. ..... 1996-97 became due to the petitioner on 19th march, 1997 when return for that assessment year was processed by the ao under s. ..... 245of it act - reg.return of income for the asst. yr. ..... 1994-95 also, return filed by the petitioner was initially processed by the ao on 30th january, 1995, under s. ..... 1995-96, after processing the return under s. ..... petitioner filed appeal before the cit(a) against the adjustments made by the ao while processing the return under s. ..... the return was processed under s. ..... return of income for that assessment year was filed by the petitioner declaring net taxable income of rs. .....

Andhra Bank Vs. Deputy Commissioner of Income-tax

Court : Andhra Pradesh

Reported in : [2001]255ITR1(AP)

..... in this writ petition, the petitioner-bank is assailing the notices issued under section 10 and subsequent notices issued under sections 8(1) and 8(2) of the interest-tax act, 1974, for the assessment years 1992-93, 1993-94 and 1994-95 and prayed for the issue of a writ of certiorari or any other appropriate writ calling for the records relating to the issue of the above notices and ..... interest on debentures issued by such a bank would, therefore, not be interest on securities falling within the meaning of sections 18 and 193 of the income-tax act, 1961, so as to go out of the purview of the interest-tax act, 1974. ..... issue notices under section 10 of the interest-tax act, 1974, for the assessment year 1992-93.' 13. ..... unny : [2001]249itr612(bom) , a division bench of the bombay high court considered whether the interest received by the utt is exempt from tax under the provisions of the interest-tax act, 1974. ..... under the provisions of the interest-tax act, 1974 (hereinafter referred to as 'the act'), the petitioner is obliged to file a return disclosing its chargeable interest to tax. ..... relying upon the above terms, learned counsel contended that the term 'chargeable interest' does not include the interest on securities or investments, such as debentures, etc. ..... the case of the revenue was that the assessee was charging to its profit and loss account, fiscal duties paid during the year as well as labour charges, power, fuel, wages, chemicals, etc. .....