Court : Chennai
Reported in : AIR1957Mad458; 32ITR222(Mad)
..... of section 25-a were satisfied, the members of his family, though divided in status under their personal law, are deemed for purposes of income-tax under the income-tax act to continue to retain a fictional undivided status with the resulting jurisdic personality as a hindu undivided family. that legal fiction is retained only for ..... , and the tribunal agreed with the findings of the departmental authorities.23. the question referred to this court under section 66(2) of the income-tax act ran:whether on the facts and in the circumstances of the case there is any material to justify the finding of the tribunal that the main ..... the fact, that the old joint family as such ceased, and that was what had to be recognised under section 25-a of the income-tax act. in sunder singh majithia v. commissioner of income-tax (1942) 2 m.l.j. 761 : (1942) 10 i.t.r. 457 at p. 464 (p.c.) , in discussing ..... s conduct itself clearly established that he chose to terminate the existence of the hindu undivided family, which as a juristic entity recognised by the indian income-tax act for purposes of assessment, was the assessee. that termination was on 27th january, 1942. the juristic entity that arunachala offered for assessment subsequent to 28th ..... with r.c. no. 68 of 1953.r. c. no. 68 of 1953.-the question that was referred under section 66(2) of the income-tax act ran:whether on the facts and circumstances of the case, there was a change in the persons carrying on the business within the meaning of section 8 .....Tag this Judgment!
Court : Chennai
Reported in : AIR1965Mad480; 56ITR556(Mad); (1965)1MLJ265
..... he entered into a partnership with his two married daughters and on that basis sought registration of the firm under s. 26-a of the income-tax act. the income-tax officer rejected the application holding that the 'partnership deed was a sham document', that there was no genuine firm and that the business continued to ..... been held to be non-genuine.(9) the tribunal's attention was drawn to he decision of the bombay high court in chimanbhai lalbhai v. commr., of income-tax : 34itr259(bom) the tribunal apparently distinguished it. we are not satisfied that there are any real points of distinction. it is true that in ..... credited each of his sons with various amounts. this was followed by the execution of a partnership deed between the father and his sons. the income-tax officer refused registration holding that there was no need of gift and that the credit entries were not sufficient to constitute gifts, among other reasons. ..... of the firm should be realised and that liquid assets should be handed over in specie to the donee.in ratnaswami nadar and son v. commr. of income-tax : 46itr1148(mad) to which one of us was a party, a similar question arose. there, the assessee, who was the sole proprietor of ..... the firm's assets to two of his daughters, though he has other issues, is not a question that should agitate the minds of the income-tax authorities, except from the aspect of whether the transaction could be a true one or not. the validity of the transaction as such cannot depend .....Tag this Judgment!
Court : Chennai
Reported in : (1991)92CTR(Mad)17; 188ITR22(Mad)
..... to nullify the applicability of a similar interpretation, an explanation was added with effect from april 1, 1952 to section 10(5) of the indian income-tax act, 1922, that the expression 'actual cost' means the actual cost of the assets to the assessee reduced by that portion of the cost thereof, if ..... holding that the subsidy received from sipcot should not be taken into account while determining the cost of the assets under section 43(1) of the income-tax act, 1961, for the purpose of allowance of depreciation ?' referring to the provisions in the subsidy scheme, learned counsel for the assessees contended that the ..... opinion : 'whether, on the facts and in the circumstances of the case, and having regard to the provisions of section 43(1) of the income-tax act, the appellate tribunal was justified in holding that the subsidy received under the central outright grant or subsidy scheme, 1971, should not be deducted from the ..... opinion : 'whether, on the facts and in the circumstances of the case and having regard to the provisions of section 43(1) of the income-tax act, 1961, the view expressed by the tribunal that the subsidy received from sipcot did not go to reduced the actual cost of the plant and machinery ..... received by the assessee under the scheme is to meet the cost of the machinery and, therefore, will fall under section 43(1) of the income-tax act, 1961 ?' 2. whether the tribunal is right in holding that it is an outright grant even though it is subject to certain conditions as .....Tag this Judgment!
Court : Chennai
Reported in : 210ITR383(Mad)
..... appropriate authority not to invoke the provisions of section 269ud(1) of the income-tax act. 11. on the other hand, mr. n. v. balasubramanian, learned counsel appearing for the revenue, submitted that the very fact that the court has ..... when the court has ordered the sale after inviting offers from the intending purchasers, there is no justification for invoking section 269ud(1) of the income-tax act, which would amount to doubting the action of the court. on that ground, learned counsel wants this court to issue a direction to the ..... side rules, 1956, in the originating summons is entirely different from the scope of the inquiry conducted by the appropriate authority under chapter xx-c of the income-tax act, 1961. this court in the case of lt. col. j. k. dhairyam  1 mlj 431 held that the question of the originating ..... submit that this court permitted the appropriate authority to exercise the right of pre-emption to purchase the property under chapter xx-c of the income-tax act, which decree has become final and binding on the parties. it is not open to the petitioner to raise the plea that the provisions ..... nominee or nominees for the sale of the said property in the abovesaid terms and the said agreement shall be filed with appropriate authority under the income-tax act within 15 days from the date of the agreement and both parties shall co-operate in the matter; (f) that if the appropriate authority .....Tag this Judgment!
Court : Chennai
Reported in : 196ITR627(Mad)
..... metropolitan magistrate (e. o. ii), madras, he is being prosecuted at the instance of the respondent who is the sixth income-tax officer, city circle iii, madras-6, for alleged commission of offences punishable under sections 276(1) and 277 of the income-tax act, 1961. in this petition filed under section 482, criminal procedure code, to call for the records and quash the pending prosecution as ..... charges the petitioner for having furnished a false return of income containing inaccurate particulars wilfully in an attempt to evade the tax, penalty and interest chargeable on the real income. 4. making a false verification in an income-tax return with the necessary measure is the subject-matter of the offence under section 277 of the act. i am unable to hold that the averments in ..... available in the instant case, since on order was passed under section 273a of the act. khalid j., as he then was, observed as under (at page 573) : 'this argument cannot stand since the protection contained in section 279(1a) is applicable only when the commissioner of income-tax for reasons mentioned in section 271(1a), reduces the penalty in favour of the ..... the complaint do not contain basic particulars which will be necessary to allow the trial to be proceeded with. detailed facts of the acts of the petitioner have been given .....Tag this Judgment!
Court : Chennai
Reported in : AIR1965Mad533; 55ITR35(Mad)
..... raises the following questions:1. whether the assessee is entitled to the allowance of development rebate under the provisions of s. 10(2)(vi-b) of the income-tax act in respect of a new bus and a new lorry installed after 31-12-1957, even though the necessary reserve, in accordance with s. 10(2)(vi ..... by the statute is that there must be book entries in support as a kind of only a follow up of the assessee's claim. the income-tax officer is directed to compute the development rebate on the new lorry mdf 1636 and the new bus mdf 1219 on the assessee producing his books before ..... of that provision. this was obviously incorrect. the appellate assistant commissioner, whom the assessee approached by way of appeal, sustained the order of the income-tax officer, in regard to the development rebate on another ground. he held that as the conditions imposed by the proviso to the provision referred to above had ..... . consequently, that part of the rebate claimed had not also been credited to the reserve account, as required by s. 10(2)(vi-b). the income-tax officer refused to allow the development rebate on the ground that neither the bus nor the lorry could be regarded as a plant or machinery within the meaning ..... claim the benefit of s. 10(2)(vi-b) of the act. (3) we are also of opinion that it will not be open to the tribunal to give a direction to the assessee who had not made the necessary book before the income-tax officer, that he should be allowed to re-write them by making .....Tag this Judgment!
Court : Chennai
Reported in : 189ITR264(Mad)
..... sold or not, is a debatable question and a view has been taken on such a debatable question by the competent authority under the income-tax act that would not call for any interference in certiorari. lastly, it is submitted that the mandamus prayed for in this writ petition has ..... these writ petition, learning counsel would restrict his submissions only to the following contentions, namely, that the provisions of chapter xx-c of the income-tax act are not attracted when an immovable property of value less than twenty lakhs rupees is to be transferred by way of conveyance and, in the ..... in challenging the said impugned order, though the petitioners have raised certain contentions in the affidavit questioning the constitutional validity of chapter xxc of the income-tax act, at the time of arguments, learned counsel for the petitioners does not press that contention on the plea that one of the petitioners has filed ..... amount equal to the apparent consideration. therefore, in exercise of the powers vested in us under sub-section (1) of section 269ud of the income-tax act, 1961, we order the purchase of the said immovable property by the central government for a sum of rs. 20,00,000 (rupees twenty ..... bearing no. 6/104. . .' 4. in the annexure to form no. 37-i furnished to the appropriate authority under section 269uc of other income-tax act under the heading 'particulars of consideration for transfer', it was indicated that the undivided interest of each one of respondents nos. 4 to 8, the .....Tag this Judgment!
Court : Chennai
Reported in : 196ITR82(Mad)
..... offences by the petitioners and another under sections 120b, 34, 193, 196 and 420, indian penal code, and sections 276c, 277 and 278 of the income-tax act, 1961, referable to the assessment year 1977-78. the petitioners are a-1, a-2, a-4 and a-5. a-3 has not ..... r. i. chadha v. ito  168 itr 591, while considering the several sections under chapter xixa of the act observed that, in the light of section 245f of the income-tax act, 1961, it was patent that the settlement commission, during the pendency of proceedings before it, enjoyed all the powers which ..... of the applicant or perpetration of fraud by him for evading any tax or other sum chargeable or imposable under the indian income-tax act, 1922 (xi of 1922), or under this act, has been established or is likely to be established by any income-tax authority, in relation to the case.' '245f. (1) in ..... whether an assessee who had filed an application before the settlement commission under section 245c of the income-tax act the terms of which include grant of immunity from prosecution under section 245h of the act and such application had been allowed to be proceeded with by the settlement commission under section 245d ..... have, subject to the provisions of sub-section (3) of that section, exclusive jurisdiction to exercise the powers and perform the functions of an income-tax authority under this act in relation to the case. (3) notwithstanding anything contained in sub-section (2) and in the absence of any express direction to the .....Tag this Judgment!
Court : Chennai
Reported in : (2002)176CTR(Mad)56; 254ITR780(Mad)
..... before the previous year, the actual cost to the assessee less all depreciation actually allowed to him under this act, or under the indian income-tax act, 1922 (11 of 1922), or any act repealed by that act, or under any executive orders issued when the indian income-tax act, 1886 (2 of 1886), was in force : provided that in determining the written down value in respect of buildings ..... section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub-clauses (a), (b) and (c) of clause (vi) of sub-section (2) of section 10 of the indian income-tax act, 1922 (11 of 1922), where such depreciation was not deductible in determining the written down value for the purposes of the said clause (vi).' 10. the explanations thereunder not being ..... assessment year. that claim was disallowed by the assessing officer as also by the appellate authority but was allowed by the appellate tribunal.6. section 32(1)(iii) of the income-tax act as it stood in that assessment year read thus :'32. (1)(iii) in the case of any building, machinery, plant or furniture which is sold, discarded, demolished or destroyed in ..... tools is,'whether, on the facts and in the circumstances of the case, the interest paid under section 139(8) of the income-tax act, 1961, is to be allowed as a deduction under section 80v and section 37(1) of the income-tax act, 1961 ?'3. this question is required to be answered against the assessee in the light of the decision of the supreme .....Tag this Judgment!
Court : Chennai
Reported in : AIR1957Mad488; 30ITR764(Mad)
..... case submitted by the tribunal in r. c. no. 93 of 1955. 49. deduction of these payments was claimed by the assessee company under section 10 (2) (xv) of the income-tax act. the relevant portion of section 10 (2) (xv) runs : 'any expenditure ..... laid out or expended wholly and exclusively for the purpose of such business.....' to attract the application of the ..... .' 32. but that left untouched the genuinenesa of the payments themselves. 33. the assessee claimed these amounts paid to the employees as deductions under section 10 (2) (x) of the income-tax act. section 10 (2) (x) runs : 'any sum paid to an employee as bonus or commission for services rendered, where such sum would not have been payable to him as profits ..... no evidence at all to prove that it was a sham concern. 15. in dealing with the contention of the assessee 'the firm (ambal stores) was registered under the indian income-tax act, and that it would not be correct on the part of the departmental officers, to breathe hot and cold about the genuineness of the firm,' the tribunal observed: 'the departmental ..... their husbands were men of affluence. the deed of partnership was dated 27th january 1947. the partnership was registered by the income-tax authorities themselves under section 26a of the income-tax act, and the profits of the partnership were also assessed to income-tax in the relevant assessment years. it was only a nominal capital of rs. 2400 that was contributed by the three adult partners .....Tag this Judgment!