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Karnataka High Court

S.240 of the IT Act, 1961 cast obligation on the revenue to effect the refund

August 6, 2009 6987 Views 0 comment Print

Refund on appeal, etc. – Where, as a result of any order passed in appeal or other proceeding under this Act, refund of any amount becomes due to the assessee, the Assessing Officer shall, except as otherwise provided in this Act, refund the amount to the assessee, without his having to make any claim in that behalf:

PPF Act need to be amended to increase Investment Limit to Rs. 100000/-

September 1, 2008 3415 Views 0 comment Print

Keeping in view that the Income-tax Act, 1961 was amended by the Finance Act, 2005 permitting an individual to deposit to the maximum of Rs. 1,00,000/- in any of the specified schemes, the concerned authorities should take steps to amend clause 3 of the PPF Scheme in terms of section 80C of the Income-tax Act.

PF, ESI paid after 31st March but before filing of return is allowable

April 9, 2008 1664 Views 0 comment Print

The grievance of the revenue is that proviso appended to section 43B of the Act permitting allowing of deduction of PF, ESI etc., subsequent to the close of the accounting period but before the return is filed, should not have been followed but disallowance must be upheld. It has not been disputed before us that the proviso has been inserted by the Finance Act, 1987 effective from 1.4.1988. In view of this, the appeals preferred by the revenue have been dismissed.

Gratuity payment under the Payment of Gratuity Act, 1972 or otherwise exempt to the extent covered under the Income Tax Act

February 25, 2008 3600 Views 0 comment Print

No doubt, section 192 of the Income-tax Act requires the employer to deduct the income-tax from the salary and the salary is defined under section 17 of the Income-tax Act, which includes wages, any annuity or pension, any gratuity, any fees, commissions, perquisites or profits in lieu of or in addition to any salary or wages, any advance of salary and other payments

Requirement of clubbing of turnover for the purpose of section 44AB in case assessee is carrying on more than one business

February 22, 2008 1437 Views 0 comment Print

Tribunal has also placed reliance on yet another judgment of the Supreme Court. ported in (1972) ITR 83 page 27 (Hindustan Steel Limited Vs State of Orissa), where it dealt with the provisions contained in Orissal Sales Tax Act. While considering the general principles, the Apex Court has held that penalty can be levied on failure of the assessee

Revenue cannot recover demand to the extent of TDS deducted despite non payment by deductor

June 9, 2005 2489 Views 0 comment Print

HC held that Revenue is to be definitely restrained in terms of Section 205 of the Act from enforcing any demand on the assessee-petitioner insofar as the demand with reference to the amount of tax which had been deducted by the tenant of the assessee in the present case, and assuming that the tenant had not remitted the amount to the Central Government. The only course open to the Revenue is to recover the amount from the very person who has deducted and not from the petitioner.

Credit for TDS cannot be denied to deductee for non payment by deductor

June 9, 2005 2470 Views 0 comment Print

If we look at the scheme for the provision of deduction of tax at source, it becomes obvious that such person is acting on behalf of the Revenue, i.e.,as an agent of the Revenue. In fact, the person is enabled statutorily to make deduction and remit the amount to the Central Government, though in the instant case, the person who has deducted the amount may be the tenant or lessee of the petitioner and there is such inter se relationship as between the two,

A provision once declared unconstitutional could not be brought to life by mere administrative instructions

July 30, 2003 2175 Views 0 comment Print

In spite of the enunciation of law in ACC, Entry 25 has not stood revived or restored into the Sixth Schedule of the Act. Therefore the Authorities under the Act cannot levy tax under the Act in regard to transfer of property in goods involved in processing photo negatives and supplying of photo prints and photographs, as if Entry 25 has stood restored in the Sixth Schedule to the Act.

CIT Vs. Pandavapura Sahakara Sakkare Kharkane Ltd. (1992) 198 ITR 690 

September 11, 1991 924 Views 0 comment Print

Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in upholding the orders of the Commissioner of Income-tax (Appeals) deleting the addition of Rs. 1,08,644 made in the assessment for the assessment year 1980-81, being the amount transferred to the ‘molasses storage fund’ from the sale proceeds of the molasses ?

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