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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1985 Page 1 of about 73 results (0.138 seconds)

Mar 18 1985 (HC)

Commissioner of Income-tax Vs. N. Ramakrishnan

Court : Chennai

Decided on : Mar-18-1985

Reported in : (1985)49CTR(Mad)165; [1986]160ITR625(Mad)

..... firm in which the hindu undivided family comprised of the assessee and his wife has a share as a beneficial owner cannot be included in the income of the assessee under section 64 of the income-tax act, 1961 ?' 2. however, after going through the facts and circumstances of the case, we do not think that there is any referable question arising from the ..... ) cannot be applied on the facts and circumstances of the case, and that in the case of the reopening of the assessment, the income-tax officer is changing his opinion as regards the application of section 64 of the income-tax act. the assessee also contended that even on merits, there cannot be any reopening of the assessments for there is no question of clubbing ..... an escapement of income by the non-disclosure of the relevant material by the assessee. the proposal for reopening of the assessment was opposed by the assessee on the ..... partnership in the said firm. originally, the income-tax officer assessed the share income of the assessee in the status of a hindu undivided family. he also assessed the share income of the minor partners in their individual hands. later, at the instance of the audit, the income-tax officer reopened the assessments under section 147(a) of the income-tax act on the ground that there has been .....

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Dec 03 1985 (HC)

Commissioner of Income-tax Vs. Srivinayaga Pictures

Court : Chennai

Decided on : Dec-03-1985

Reported in : [1986]161ITR65(Mad)

..... the assessee, we have two instructive judgments, one rendered with reference to the old provision in section 10(2)(xi) of the indian income-tax act, 1922, and the other under section 36(2)(i)(b) of the income-tax act, 1961. 9. in cit/ept v. jwala prasad tiwari : [1953]24itr537(bom) , we find the following passage : ''writing off' is a technical term used by financiers ..... rs. 20,000 was in fact accounted for twice by the income-tax officer and hence the correct amount that will have to come up for consideration for addition was only rs. 40,550. the appellate assistant commissioner confirmed the view of the ..... the assessee that the fact that the cheques were dishonoured would show that no collections accrued to the assessee and hence they were not taken to the revenue account, the income-tax officer held that since the assessee is maintaining the accounts on mercantile basis, it is but proper that the collections showed should be accounted for in revenue account as and ..... at a later date these amounts are not realisable, the proper way would be to claim them as bad debts. in that view, the income-tax officer added back a sum of rs. 60,550 to the total income for that year. when the matter was taken up in appeal before the appellate assistant commissioner, it was found that the receipt amounting to .....

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Apr 25 1985 (HC)

Commissioner of Income-tax Vs. J.K.K. Sundararajah

Court : Chennai

Decided on : Apr-25-1985

Reported in : [1986]160ITR370(Mad)

..... the various partnerships was equally divided between the assessee and his two sons. the partition has also been accepted by the income-tax officer under section 25a of the income-tax act. in the wealth-tax assessment, he claimed that 2/3 rds of the capital in the various partnerships belonged to the minors and, therefore, ..... , respectively ?' m.n. chandurkar, c.j. 33. this reference which was made at the instance of the revenue under section 256(1) of the income-tax act has been placed before me because there is a difference of opinion between ramanujam j. and (late) fakkir mohammed j. on the answer to be given ..... to the fact that though the export firms themselves were to be treated as registered firms for the purpose of assessment under the income-tax act, the aggregate of the share income of the relative partners was to be equally assessed in the hands of the assessee and his three brothers. paragraph 3 of ..... is not a question which was referred to the high court. the scope of a reference under section 256(1) of the income-tax act, 1961, is a very limited one and the high court must take the facts as stated in the statement of the case. in karnani properties ..... , manickam, equally, each of them being allotted rs. 1,86,296.10. the said partition was recognised by the income-tax officer by an order dated august 31, 1967, passed under section 171 of the income-tax act. besides the above firms, there were certain other firms, namely, messrs. colombo stores, messrs. ashoka textiles, messrs. .....

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Nov 28 1985 (HC)

Commissioner of Income-tax Vs. Late G.D. Naidu and ors. (by Lrs. G.D. ...

Court : Chennai

Decided on : Nov-28-1985

Reported in : (1986)51CTR(Mad)256; [1987]165ITR63(Mad)

..... facts and in the circumstances of the case, there was a transfer of assets within the meaning of the words ' otherwise transferred ' occurring in section 34(3)(b) of the income-tax act. the high court answered the second question in the affirmative and against the assessee and in view of that answer, declined to answer the first question. on a further appeal ..... that an amount referable to the restrictive covenant agreed to by the parties should be allowed as a deduction in the hands of the assessee under section 37 of the income-tax act (7) whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the compensation paid by the assessee firm to shri. g. d ..... observed that the payment was not for business considerations and, therefore, it could not be allowed as deduction, under section 37 of the income-tax act, in the hands of the firm. in the case of the recipients, the income-tax officer found that the entire amount was receivable and was received by the two assessees and that, therefore, there was no evidence to substantiate ..... the outgoing partners was being carried on by the new partners and we have already pointed out that even the income-tax officer has registered the firm under the income-tax act for the subsequent years also. 27. in blaze and central (p.) ltd. v. cit : [1979]120itr33(mad) , the facts were these. the assessee which was carrying on business of arranging exhibition of advertisement and .....

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Mar 14 1985 (HC)

D. Padmanabhan Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-14-1985

Reported in : [1985]156ITR751(Mad)

..... following question to this court : 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the commissioner of income-tax had jurisdiction to act under section 263 of the income-tax act, 1961, as it could be said that prima facie the assessment order was erroneous in law and prejudicial to the interests of the revenue ?' 2. however ..... acquisition of all the shares on the basis of the market value as on january 1, 1964, to the prejudicial to the revenue, initiated proceedings under section 263 of the income-tax act and after giving show-cause notice to the assessee, determined by his order dated december 22, 1982, the total cost of acquisition of the shares at rs. 1,60,640 ..... . in doing so, the commissioner of income-tax act substituted the market value as on january 1, 1964, only for 493 shares said to have been acquired on april 1, 1968, at the partition, and in respect of 263 ..... computation of the cost of acquisition of shares acquired after january 1, 1964, is on erroneous basis. therefore, the tribunal is justified in upholding the jurisdiction of the commissioner of income-tax under section 263 of the income-tax act. we are not, therefore, direction a reference in this case. the petition is dismissed. there will, however, be no order as to costs.

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Feb 06 1985 (HC)

Indian Textiles Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Feb-06-1985

Reported in : (1986)53CTR(Mad)104; [1986]157ITR112(Mad)

..... the jurisdiction of the commissioner under section 263 of the income-tax act. the tribunal, however, did not agree with the commissioner that the assessee can be denied relief in respect of the said expenditure straightaway without further enquiry with reference to ..... of attack had been rejected by the tribunal. the tribunal held that the commissioner was justified in invoking his original jurisdiction under section 263 of the income-tax act as the grant of relief by the income-tax officer in relation to air freight, insurance and carriage of goods without verifying the facts is prejudicial to the revenue and that is sufficient to sustain ..... order of the commissioner, the assessee filed an appeal to the tribunal contending that the commissioner had no jurisdiction to pass the order in question under section 263 of the income-tax act and that even otherwise, on the facts and in the circumstances of the case, the expenditure incurred on air freight, insurance and carriage of goods will be eligible for ..... and also on commission paid in india on export sales which are not eligible for allowance, issued a show-cause notice on march 1, 1983, under section 263 of the income-tax act, proposing to revise the assessment and calling upon the assessee to show cause against such proposal. the assessee filed his representation on february 14, 1983, stating that the allowance .....

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Dec 18 1985 (HC)

indo Foreign Traders (P) Limited Vs. Commissioner of Income Tax

Court : Chennai

Decided on : Dec-18-1985

Reported in : (1986)53CTR(Mad)181; [1987]166ITR308(Mad); [1986]25TAXMAN120(Mad)

..... contention. in the appeal filed by the department before the tribunal, the revenue relied on section 10(5a) of the indian income-tax act, 1922, and the corresponding section 28(ii) of the income-tax act, 1961, and contended that the compensation received by the assessed shall be deemed to be profits and gains of business carried ..... decree dated august 23, 1957, for the period from april 1, 1957, to march 31, 1958, is assessable under section 10(5a) of the indian income-tax act, 1922, for the assessment year 1958-59 ?' 8. it may be seen from the facts stated above that the original sales organisation agreement did not ..... the assessee received a sum of rs. 12,000 in the financial year 1955-56 and the income-tax officer taxed this amount in the assessment year 1956-57 as profits under section 10(5a) of the act. the contention of the assessee was that the entire compensation amount of rs. 96,000 accrued to ..... suit claiming rs. 28,00,000. the suit was decreed only for a sum of rs. 2,34,000. relying on section 10(5a), the income-tax officer as well as the appellate assistant commissioner held that the amount of rs. 2,34,000 with interest decreed and received in december, 1955, ..... on and shall be liable to tax accordingly. in answer to this contention, the assessee contended that the provisions of section 10( .....

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Dec 16 1985 (HC)

K.V. Krishnaswamy Naidu and Co. Vs. Commissioner of Income Tax and ors ...

Court : Chennai

Decided on : Dec-16-1985

Reported in : [1987]166ITR240(Mad)

..... commissioner shall not authorities the retention of the books of account and other documents for a period exceeding thirty days after all the proceedings under the indian income-tax act, 1922 (11 of 1922), or this act in respect of the years for which the books of account or other documents are relevant are completed.' sub-section (9a) : 'where the authorised officer has no ..... in case no. 143(9) 85-86/cbe, dated may 24, 1985, and to quash the same. that was an order under section 132(8) of the income-tax act, 1961, hereinafter referred to as 'the act', and that reads as follows : 'the account books and other documents, (i) as per annexure 'ss' - 22 items to the panchanama dated november 28, 1984, (ii) as ..... 135 state that the director of inspection, the commissioner and the inspecting assistant commissioner shall be competent to make any enquiry under the act and for this purpose shall have all the powers that than income-tax officer has under the act in relation to the making of enquiries. it may be seen from these provisions that for the purpose of exercising certain powers ..... sub-section (8) or sub-section (9) shall be exercisable by such income-tax officer.' 6. there is no dispute that the income-tax officer referred to in sub-section (5) is the income-tax officer having jurisdiction over the person under section 124 of the act. it is also not disputed that 'the income-tax officer having jurisdiction over such person' referred to in sub-section (9a) is .....

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Apr 08 1985 (HC)

Prem Nazir Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Apr-08-1985

Reported in : [1986]159ITR182(Mad)

..... no share income actually received from the partnership, there is no question of deduction of interest paid on the capital invested ..... referred to as 'the act', only against the assessee's share income from the partnership and when there is ..... got no share income from the said partnership. the assessee claimed deduction in respect of the interest paid on the capital borrowed as against his total income, which is mainly from his profession as a cine artiste. the assessing authority rejected the said claim on the ground that deduction can be allowed under section 67(3) of the income-tax act, 1961, hereinafter ..... in the partnership. the matter was taken in appeal to the commissioner of income-tax (appeals). the appellate authority also agreed .....

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Mar 14 1985 (HC)

Commissioner of Income-tax Vs. Vasan Publications P. Ltd. and anr.

Court : Chennai

Decided on : Mar-14-1985

Reported in : (1986)52CTR(Mad)354; [1986]159ITR381(Mad)

..... schedule is proper and justified ?"112. the papers will now be placed before the learned chief justice for appropriate further action in terms of section 259(2) of the income-tax act, 1961.ramanujam, j.113. these matters have been posted before me on a difference of opinion between balasubrahmanyan j. and swamikannu j., on the question as to whether ..... , therefore, draw from day of these special definitions and stuff their special meanings into the expression "newspaper production plant and machinery", which carries no statutory definition in the income-tax act and, therefore, must quite certainly set its face against the statutory definitions in other enactments.100. in the course of argument, it was suggested by learned counsel that a ..... or not. in other words, whether the publications "ananda vikatan", "kumudam" and "kalkandu" come within the purview of the definition of "newspaper" under the provisions of the income-tax act, is the object of my discussion.53. in the instant cases before us, whether the publication known as "ananda vikatan" published as a weekly tamil publication at madras and " ..... no.2 of item iii (iii) of part i of appendix i of the income-tax rules, 1962.17. the additional commissioner of income-tax acting under section 263 of the income-tax act, 1961, held that the magazines aforesaid cannot be considered as mere newspapers he, therefore, directed the income-tax officer to correct the rate of depreciation accordingly.18. on appeal, the tribunal perused some .....

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