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Judgment Search Results Home > Cases Phrase: income tax act Court: andhra pradesh Year: 1978 Page 4 of about 52 results (0.052 seconds)

Mar 02 1978 (HC)

Addl. Commissioner of Income-tax Vs. K. Ramabrahmam and Sons (P.) Ltd.

Court : Andhra Pradesh

Decided on : Mar-02-1978

Reported in : [1978]115ITR369(AP)

..... , any interest, not being 'interest on securities', or any other sum, not being dividends, chargeable under the provisions of this act, shall, at the time of payment, unless he is himself liable to pay any income-tax thereon as an agent, deduct income-tax thereon at the rates in force : provided that nothing in this sub-section shall apply to any payment made in the ..... assessee to make payments ; nor is there any right on the part of the non-residents to receive these amounts. in these circumstances, these payments cannot be regarded as income chargeable under the act. as already stated, there is no obligation on the part of the payer, and no right to receive the same by the recipient. payments do not arise out ..... can be regarded as income chargeable under the act. on the facts of this case, we find that payments were not received by a single individual or individuals from time to time. payments were made to different persons at ..... , but is not exhaustive. it is not capable of exact definition. it has got a legal concept. various decisions have laid down that income is anything which can properly be described as income and is taxable under the act unless expressly exempted. the only question for consideration is whether payments that have been received by the persons to whom the asses-see paid .....

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Feb 22 1978 (HC)

Commissioner of Income-tax Vs. Nizam Sugar Factory Ltd. (No. 2)

Court : Andhra Pradesh

Decided on : Feb-22-1978

Reported in : [1979]116ITR706(AP)

..... manufacture and sale of sugar.3. so far as the first question is concerned, it is covered by the decision of this court in r. c. no. 60 of 1976 (cit v. nizam sugar factory ltd.), dated 17th january, 1978 [since reported in : [1979]116itr188(ap) ]. therefore, having regard to the opinion expressed therein, the answer to this question is in ..... the assessment year 1969-70 and rs. 4,950 for the assessment year 1970-71 made by the assessee to its employees is allowable as an admissible deduction under the act ' 2. in this reference, we are concerned with two assessment years 1969-70 and 1970-71. the assessee, messrs. nizam sugar factory ltd., is apublic limited company carrying on business ..... s. obul reddy, c.j.1. the following four questions have been referred to this court for its opinion under section 256(1) of the i.t. act, 1961, at the instance of the revenue:'1. whether, on the facts and in the circumstances of the case and on a correct interpretation of rule 7(1) of i. .....

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Feb 01 1978 (HC)

Commissioner of Income-tax Vs. T.N. Aravinda Reddy

Court : Andhra Pradesh

Decided on : Feb-01-1978

Reported in : [1979]116ITR551(AP)

..... is involved in the process as a confirment of a new title is not necessary. a partition, therefore, is not a transfer within the meaning of section 53a, t.p. act.'4. this view was endorsed by the supreme court in kuppuswami chettiar v. arumugam chettiar, : [1967]1scr275 . 5. we are not here concerned with a partition and consequent enjoyment of ..... -see is entitled to deduction of the value of the property released in his favour by the three brothers, from the capital gain in terms of section 54 of the act ?' 3. mr. rama rao, the learned counsel appearing for the revenue, invited our attention to a decision of the madras high court in radhakristnayya v. sarasamma, : air1951mad213 , to contend that ..... the three brothers were styled as deeds of release, they, in fact, operate as deeds of conveyance and, therefore, the assessee is entitled to relief under section 54 of the act. this finding ofthe aac has been affirmed by the tribunal and hence the following question has been referred to this court: 'whether, on the facts and in the circumstances of ..... s. obul reddy, c.j. 1. the question that arises in this reference is whether the assessee is entitled to invoke in his favour section 54 of the i.t. act, 1961. 2. the facts giving rise to this reference are these: the assessee was one of the four brothers. they constituted a joint hindu family. the four brothers partitioned the .....

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Nov 28 1978 (HC)

Commissioner of Wealth-tax Vs. Smt. Azizunnissa Begum

Court : Andhra Pradesh

Decided on : Nov-28-1978

Reported in : [1979]119ITR376(AP)

..... . act of 1922, which, for all practical purposes, corresponds to section 129 of the 1961 act. as has happened in anantha naganna chetty's case, here also a new officer without issuing a fresh notice completed the penalty proceedings and ..... of being heard were necessary under the statute ?'3. that such a notice is necessary has been held by a division bench of this court in anantha naganna chetty v. cit : [1970]78itr743(ap) . the division bench held that such a notice is necessary while construing section 5(7c) of the indian i.t ..... have been preferred by the revenue. they relate to imposition of penalty on a wealth-tax assessee for the assessment years 1964-65 to 1969-70,2. the question which the revenue unsuccessfully tried to persuade the tribunal to refer to this court and which they ..... by a binding decision, we refuse to call for a statement and direct the tribunal to refer the question to this court.6. in the result, all the five wealth-tax cases are dismissed. there will be no order as to costs. .....

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Jan 17 1978 (HC)

Commissioner of Income-tax Vs. Warner Hindustan Ltd.

Court : Andhra Pradesh

Decided on : Jan-17-1978

Reported in : [1979]117ITR15(AP)

..... . 273):'the correctness of the test laid down in this case is doubted in a later decision of the gujarat high court in the case of commissioner of income-tax v. elecon engineering co. ltd. : [1974]96itr672(guj) the decision of the bombay high court in jayasingrao's case : [1962]46itr1160(bom) is ..... furniture and fittings'. the question arose whether the sanitary and pipeline fittings installed fell within the definition of 'plant 'in section 10(5) of the 1922 act. the supreme court construed the expression 'plant' as having a wider meaning. in that view, it held that the sanitary and pipeline fittings fell within ..... wider meaning is to be given to the expression 'plant', it will not take within its ambit a 'well '. section 32 of the i.t. act deals with depreciation and section 32, to the extent relevant, says :'in respect of depreciation of buildings, machinery, plant or furniture owned by the assessee ..... not an appealable order. that contention too was negatived by the tribunal relying upon the decision of the calcutta high court in kooka sidhwa and co. v. cit : [1964]54itr54(cal) . questioning the findings of the tribunal on the aforesaid two points, the revenue moved for reference to this court.3. as ..... in the factory premises for its business purpose. in so coming to the conclusion, the tribunal applied the ratio of the decision of the supreme court in cit v. taj mahal hotel : [1971]82itr44(sc) . the other question raised before the tribunal by the revenue was that the order of the ito .....

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Jul 24 1978 (HC)

Nizam Sugar Factory Ltd. Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Jul-24-1978

Reported in : [1979]120ITR527(AP)

sambasiva rao, c.j. 1. the point for consideration in this reference case arises under the c. (p.) s.t. act, 1964. the question referred to us by the income-tax appellate tribunal is as under : ' whether, on the facts and in the circumstances of the case, the reserve for the purpose of computing the capital for ..... of the accounting year, the ito took into account a reserve of rs. 80 lakhs. however, suo motu exercising his powers under section 16 of the surtax act, the cit called for the records and examined as to whether the acceptance by assessing officer of rs. 80 lakhs as forming the capital was correct or not. the ..... actual books of the company show a general reserve of rs. 80 lakhs and, therefore, that should be accepted as the capital for the purpose of the surtax act. this contention cannot be accepted. the balance-sheet for the year ending september 19, 1967, shows that a general reserve of rs. 80 lakhs was taken from ..... . sri swamy's contention is that the books of the company alone should be taken into account as per the explanation to rule 1 of schedule ii of the act. the balance-sheet itself is one of the books or records of the company. that shows a general reserve of rs. 36,11,279. that apart, even ..... , the tribunal was right in holding that the general reserve was not rs. 80 lakhs but only rs. 36,11,279. 5. sri swamy relies on cit v. rohit mills ltd. : [1965]58itr854(guj) c1t v. gangadhar banerjee & co. (p.) lid. : [1965]57itr176(sc) and sree meenakshi mills lid. v .....

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Jan 17 1978 (HC)

Commissioner of Income-tax Vs. Nizam Sugar Factory Ltd.

Court : Andhra Pradesh

Decided on : Jan-17-1978

Reported in : [1979]116ITR188(AP)

..... i.t. rules.2. rule 7 to the extent material reads:'7. (1) in the case of income which is partially agricultural income asdefined in section 2 and partially income chargeable to income-tax underthe head ' profits and gains of business ', in determining that part which ischargeable to income-tax the market value of any agricultural producewhich has been raised by the assessee or received by him .....

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Feb 24 1978 (HC)

Commissioner of Income-tax Vs. Gangappa Cables Ltd.

Court : Andhra Pradesh

Decided on : Feb-24-1978

Reported in : [1979]116ITR778(AP)

..... a case where a claim was made but no evidence or insufficient evidence was adduced in support. in the present case neither any claim was made before the income-tax officer, nor was there any material on record supporting such a claim. we, therefore, hold that, on the facts of this case, the question referred to ..... fit' held that those words include all the powers (except possibly the power of enhancement) which are conferred upon the aac by section 31 of the act. that was, of course, a case where the tribunal had directed the aac or the ito to hold a further enquiry and dispose of the case ..... the jurisdiction of the tribunal to allow a plea inconsistent with the plea raised before the departmental authorities opined that there is nothing in the i.t. act which restricts the tribunal to the determination of questions raised before thedepartmental authorities and that all questions whether of law or of fact which relate to the ..... 143(3) and one of the grounds of appeal was that the ito had erred in not giving the assessee any benefit under section 84 of the act. no claim, however, was made before the ito when he completed the assessment that the assessee was entitled to an exemption in respect of a portion ..... by it prior to the date when it went into commercial production was not allowable deduction under the provisions of section 80j(1) of the i.t. act. the amount of expenditure incurred by the assessee prior to the date when it went into commercial production was a sum of rs. 1,81,694. .....

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Jul 11 1978 (HC)

Commissioner of Wealth-tax Vs. Trustees of H.E.H. the Nizam's Sahebzad ...

Court : Andhra Pradesh

Decided on : Jul-11-1978

Reported in : [1981]129ITR796(AP)

..... and on a true reading of sections 21(1) and 21(4) of the wealth-tax act, 1957, in so far as it applied to assessment on trustees : (i) the interest of a person entitled to a particular amount out of income of the fund on the valuation date is equal to only the actual amount due to ..... was received the income-tax appellate tribunal passed an order in appeal on august 6, 1963, in the following terms:'1. one single assessment order for each year be passed incorporating all the items of wealth, but charging tax separately on those itemsin the manner laid down under sections 21(1) and 21(4) of the act respectively as ..... the trust deed goes, the entire income and the accumulations thereon from out of the shares fund (apart from ..... from the net wealth in terms of section 5(1)(viii) of the act. in respect of the shares fund, the corpus consists of 5% tax-free cumulative preference shares of the total face value of rs. 4,00,000. the beneficiary's share in the income from this corpus is rs. 1,500 per month, i.e., rs ..... month (rs. 18,000 per year) from out of the income of this shares fund, what would be her interest in the shares fund available for being charged to wealth-tax and whether such assessment should be under section 21(1) or section 21(4) of the act. so far as the reading of clause 5(a) of .....

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Feb 02 1978 (HC)

Commissioner of Wealth-tax Vs. Trustees of H.E.H. the Nizam's Miscella ...

Court : Andhra Pradesh

Decided on : Feb-02-1978

Reported in : [1980]126ITR233(AP)

..... of the case and on a true reading of sections 21(1) and 21(4) of the wealth-tax act, 1957, in so far as it applied to assessment on trustees : (i) the interest of a person entitled to a particular amount of income of the fund on the valuation date is equal to only the actual amount due to him on the ..... the case and on a true reading of section 21(1) and 21(4) of the wealth-tax act, 1957, in so far as it applied to assessment on trustees : (i) the interest of a person entitled to a particular amount out of the income of the fund on the valuation date is equal to only the actual amount due to him on ..... to consider the assessability of the corpus allotted for the benefitof each beneficiary acting under section 21(4) or under section 21(2) of the wealth-tax act. (iv) the portion of the trust fund which bears the same proportion as the sum of rs. 1,50,000 to the total income of the fund required to be spent collectively on the beneficiaries' palace ..... the trust deed bears to the total income of the fund shall be excluded from the assessments. it is open to the wealth-tax officer to consider the assessability of the corpus proportionate to the annuity payable to each beneficiary acting under section 21(4) or under the provisions of section 21(4) of the wealth-tax act. (ii) the amounts of corpus set apart .....

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