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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1988 Page 1 of about 71 results (0.492 seconds)

Nov 16 1988 (HC)

Commissioner of Income-tax Vs. A. Mohammed Mohideen

Court : Chennai

Decided on : Nov-16-1988

Reported in : [1989]176ITR393(Mad)

..... c.j.1. at the instance of the revenue, the following question of law has been referred to this court under section 256(1) of the income-tax act, 1961, for the opinion of this court : 'whether, on the facts and in the circumstances of the case, the transaction of the assessee of purchasing ..... his own family or to rent it out to third parties. on the basis of the materials before him, the income-tax officer concluded that the assessee's conduct of demolishing the building, converting the entire area into house sites leaving space for roads and subsequently selling ..... the condition of the building was not habitable and the assessee also could not have realised any rent from letting out the building. the income-tax officer further noticed that the assessee did not take any step to renovate the building to make it suitable for living by the members of ..... the advertisement also offered the property for lease. before the income-tax officer, the assessee contended that the property was purchased as an investment either to be used by his family members who were in india or, ..... stand and contended that the entire realisation from the sale of plots represented capital receipt assessable to capital gains in the respective assessment years. the income-tax officer, while examining the claim of the assessee, found that the assessee had advertised for the sale of the property in the year 1964, though .....

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Feb 10 1988 (HC)

Commissioner of Income-tax Vs. M. Balamuralikrishna

Court : Chennai

Decided on : Feb-10-1988

Reported in : (1988)69CTR(Mad)18; [1988]171ITR447(Mad)

..... m.n. chandurkar, c.j.1. the question which has been referred under section 256(1) of the income-tax act, 1961, at the instance of the revenue, reads as follows : 'whether, on the facts and in the circumstances of the case, the ..... by him for his residence, he received presents from his relatives, friends and well-wishers amounting to rs. 19,244. this amount was assessed as income by the income-tax officer. the amount was, however, deleted by the appellate assistant commissioner and the order of the appellate assistant commissioner was confirmed by the tribunal. ..... 400, ranging between rs. 5 to rs. 500 and the contributions came from different strata of society, castes and individuals. the assessment made by the income-tax officer was confirmed by the appellate assistant commissioner and by the tribunal. this court held that as the assessee was being remunerated separately for his discourses ..... cricketer was a donation or a gift and was not an employment or profit arising from the assessee's employment and was consequently not assessable to income-tax. the commissioners took the view that the amount was a donation or gift. the view of the commissioners was affirmed by rowlatt j. but his ..... as professional income and brought it to tax. 4. the appellate assistant commissioner held the payment to be by way of a testimonial and personal gift and not taxable. he recorded an alternative finding that even if it is regarded as income, it would be exempt under section 10(3) of the act being casual .....

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Feb 11 1988 (HC)

Commissioner of Income-tax Vs. Pioneer Engineering Syndicate

Court : Chennai

Decided on : Feb-11-1988

Reported in : [1989]175ITR93(Mad)

..... year 1969-70 2. whether, on the facts and in the circumstances of the case, the appellate tribunal was right in cancelling the order of the commissioner of income-tax under section 263 of the income-tax act, 1961f, for the assessment year 1967-68 3. whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that ..... , 1966, which is described as a deed of dissolution. 5. all these questions have been referred in accordance with the directions of this court under section 256(2) of the income-tax act, 1961. 6. the assessee is a partnership firm which was originally constituted under an instrument of partnership deed dated april 1, 1962. the construction company which has been referred to ..... disallowed the deduction treating the payment as capital expenditure. in respect of the order of the income-tax officer for the assessement years 1967-68 and 1968-69, the commissioner exercised his revisional jurisdiction under section 263 of the income-tax act, 1961, and set aside the deduction. 9. in respect of the assessment year 1969-70, in the appeal filed by the assessee, its ..... the payment of rs. 50,000 made by the assessee to pioneer construction company, vijayawada, under the 'dissolution deed' dated january 1, 1966, was allowable as deduction in computing the income of .....

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Feb 22 1988 (HC)

Commissioner of Income-tax Vs. K. Govindarajulu (Decd.) by Legal Repre ...

Court : Chennai

Decided on : Feb-22-1988

Reported in : [1988]173ITR112(Mad)

..... indirectly from such transferred assets and hence has to be included in the assessment of the assessee for the assessment year 1965-66 under section 64(1)(iii) of the income-tax act, 1961 2. whether, on the facts and in the circumstances of the case, the entirety of the amount disallowed in the assessment of m/s. sri hari mills private ltd ..... tribunal approved of the reasoning of the appellate assistant commissioner and upheld his conclusion in that regard. 5. at the instance of the revenue, under section 256(1) of the income-tax act, the tribunal forwarded a statement of the case and referred the following questions for consideration by this court : '1. whether, on the facts and in the circumstances of the case ..... an asset transferred by the assessee to his wife and, therefore, it was liable to be assessed in the hands of the assessee under section 64(1)(iii) of the income-tax act, 1961. 2. in the assessment of m/s. sri hari mills private limited, for the assessment years 1965-66 and 1967-68 to 1971-72, certain amounts were disallowed as ..... assessed the capital gain of rs. 58,000 derived from the sale of the house in the hands of the assessee invoking section 64(1)(iv) of the income-tax act. while the appellate assistant commissioner confirmed the assessment, the tribunal reversed it holding that there was no proximate connection between the cash gift and the capital gain derived by the .....

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Jun 22 1988 (HC)

Commissioner of Income-tax Vs. Southern Agrifurane Industries Ltd.

Court : Chennai

Decided on : Jun-22-1988

Reported in : (1988)72CTR(Mad)99; [1988]174ITR697(Mad)

..... sub-clause (ii), in the case of assets acquired by purchase not entitled to depreciation, their actual cost to the assessee is to be taken. under section 32 of the income-tax act, before an assessee can become entitled to claim depreciation, it must be shown that the building, machinery, plant or furniture owned by the assessee has been used for the purpose ..... holding that the value of work-in-progress, stores and raw materials in transit should be taken as capital for the grant of relief under section 80j of the income-tax act, 1961 ?' 4. in cit v. indian oxygen ltd. : [1978]113itr109(cal) , the calcutta high court has observed as follows (p. 119) : 'only in the computation of the value of the assets, ..... ltd. : [1978]115itr879(guj) , the assessee purchased machinery in the previous year relevant to the assessment year 1969-70, which was not installed. the income-tax officer disallowed the claim for relief under section 80j of the income-tax act, 1961, on the ground that the machinery was not yet installed and, therefore, was not in use and the amount of capital was not employed ..... . ratnavel pandian, offg. c.j. 1. the assessee, viz., m/s. southern agrifurane industries limited, madras, in its computation of income for the assessment year 1976-77, claimed relief under section 80j of the income-tax act, 1961 (hereinafter referred to as 'the act'). the income-tax officer, however, while accepting the claim of the assessee, did not accept the quantum of relief claimed by the assessee .....

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Feb 15 1988 (HC)

Commissioner of Income-tax Vs. Veppalodai Salt Corporation

Court : Chennai

Decided on : Feb-15-1988

Reported in : (1988)68CTR(Mad)125; [1988]171ITR366(Mad)

..... as follows (p. 966) : 'now, the question is whether orders levying interest under sub-section (8) of section 139 and under section 215 are applicable under section 246 of the income-tax act. clause (c) of section 246 provides an appeal against an order where the assessee denies his liability to be assessed under the ..... to a direction by this court under section 256(2) of the income-tax act. 2. in an appeal against the assessment, the assessee who is a registered firm contended that the income derived from the production of salt should be exempted under section 10(1) as it would amount to agricultural income. that contention was negatived by all the authorities including the tribunal. 3 ..... the date extended by the income-tax officer under sub-section (1) or sub-section (2) of section 139 of act, does not file the return within the extended date, but files the same before the end of the four assessment years concerned; and (2) the ..... sub-section (4) of section 139 is not confined only to the extension of time granted by the income-tax officer, but also to the time originally fixed for the filing of returns under sub-sections (1) and (2) of section 139 of the act. there may be two types of cases in the late filing of returns, namely, (1) the assessee, after .....

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Mar 11 1988 (HC)

E.i.D. Parry Limited Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-11-1988

Reported in : (1988)69CTR(Mad)49; [1988]174ITR11(Mad)

..... and only the balance of rs. 1,050 could be considered as deemed dividend under section 2(6a)(e) of the indian income-tax act of 1922. rejecting that contention, the income-tax officer assessed the whole amount of rs. 25,107 as deemed dividend under section 2(6a)(e) by taking into consideration also ..... of learned counsel for the revenue that it is an 'exchange' and, therefore, a 'transfer' within the meaning of section 2(47) of the income-tax act cannot be accepted. 20. in the result, we hold that the surplus amount obtained by the assessee on account of devaluation of the rupee is not a ..... connected with any business. such a conversion, in our opinion, can never be considered as exchange within the meaning of section 2(47) of the income-tax act, 1961.' 18. we are entirely in agreement with the above reasoning of the karnataka high court. learned counsel for the revenue draws our attention to ..... aggrieved thereby. in this case, the revenue did not apply for a reference in the prescribed form as required by section 256(1) of the income-tax act. as pointed out by learned counsel for the assessee, there was not even an oral request at the time when the application for reference filed ..... the tribunal was right in holding that the accumulated profits will not include the current profits for the purpose of section 2(6a)(e) of the income-tax act. at the assessee's request, the tribunal included in the same reference the further question whether the tribunal was right in holding that rs. .....

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Dec 09 1988 (HC)

Kanaka Films Private Ltd. Vs. Income-tax Officer

Court : Chennai

Decided on : Dec-09-1988

Reported in : (1989)75CTR(Mad)209; [1989]177ITR88(Mad)

..... pointed out that the petitioner is seeking revision of assessments under section 154 of the income-tax act for the year 1966-67 to 1971-72. the time limit specified under section 154 is four years from the date of the order sought to be revised. 13. therefore ..... commissioner's finding. it was stated that the assessments for 1970-71 and 1971-72 could not be rectified under section 154 of the income-tax act earlier, in view of the fact that until the appellate tribunal passed the order on july 31, 1978 there was no loss to be carried forward. learned standing counsel further ..... assessments for the years 1970-71 and 1971-72 could not be revised. the carry forward of the loss can be made only through action under section 154 of the income-tax act which is barred by limitation in this case. according to learned standing counsel, there is no failure on the part of the department to give affect to the appellate assistant ..... assessment year 1963-64 up to the assessment year 1971-72 and that it was the statutory duty of the respondent to make suitable rectification under section 154 of the income-tax act. the respondent, in his letter dated february 26, 1979, informed the petitioner that the revision of the assessment for the assessment years 1970-71 and 1971-72 could not be .....

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Mar 11 1988 (HC)

M.A. Namazie Endowment Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-11-1988

Reported in : (1988)69CTR(Mad)117

..... to section 11 of the income-tax act. if a trust is covered by the provisions of section 11 of the income-tax act, the income thereof will not be exempt from liability to tax under the circumstances set out in section 13 of the income-tax act. the relevant portion of section 13 of the income-tax act reads as follows : '13 ..... in the present case. in that very case, the privy council held that the test of 'general public utility' prescribed under the indian income-tax act was applicable not only to trusts in the english sense but also the properties held under trust 'or other legal obligation' including muslim wakfs ..... the contention that a purpose which is charitable under the personal law of the parties has to be accepted as such for the purposes of the income-tax act, learned counsel relies upon the observations of the privy council in the trustees of the tribune, in re [1939] 7 itr 415. in ..... purposes and that it was not a business conducted on behalf of a religious or charitable institution. while construing section 4 (3) (i) of the income-tax act, the supreme court made the following observation, on which learned counsel for the assessee places strong reliance (p. 183) : 'in our view, the ..... the circumstances of the case, the assessee is entitled to exemption under section 11 read with section 13(1)(c)(ii), first proviso, of the income-tax act, 1961 ?' 5. mr. ramamani, learned counsel for the assessee, contended that on a fair reading of the entire document, it was clear that .....

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Jan 13 1988 (HC)

M.V. Valliappan and ors. Vs. Income-tax Officer and ors.

Court : Chennai

Decided on : Jan-13-1988

Reported in : (1988)67CTR(Mad)289; [1988]170ITR238(Mad)

..... . w.p. no. 162 of 1983. - this writ petition is allowed and the notices and the reassessment made under section 147(b) of the income-tax act, 1961, and the consequent notices of demand for the assessment years 1980-81 and 1981-82 dated october 29, 1982, after derecognising the partial partition are ..... : w.ps. nos. 992 and 993 of 1981. - these writ petitions are allowed and the notice of demand made under section 156 of the income-tax act. 1961, on the footing that the claim for partial partition is not allowed as the partial partition took place after december 31, 1978, is quashed. ..... december 31, 1978, is made for the first time in the assessment year 1980-81. (7) the provisions of section 171(9) of the income-tax act, 1961, will not fasten any liability in respect of a partial partition which has already been recognised in the assessment year 1979-80, and a finding ..... invalidity on the ground of discrimination and arbitrariness and must, therefore, be declared as void. 102. we accordingly hold that section 171(9) of the income-tax act, 1961, suffers from legislative incompetence and is also void on the ground of violation of article 14 of the constitution of india. 103. for the purpose ..... 20. section 171, as it stood before the introduction of sub-section (9), was basically analogous to the provisions of section 25a of the indian income-tax act, 1922. section 171 has been construed by two decisions of the supreme court to which we shall make a reference. since some argument has been .....

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