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Judgment Search Results Home > Cases Phrase: income tax act Court: delhi Year: 1967 Page 1 of about 26 results (0.051 seconds)

Jun 13 1967 (HC)

Saraf Mull Rairoo Mull Vs. Commissioner of Income-tax

Court : Delhi

Decided on : Jun-13-1967

Reported in : AIR1968Delhi18

..... in the union territory of himachal pradesh to the high court of punjab is as from the prescribed date, to be construed as references to high court of delhi indian income-tax act, 1922, is a law in force in the union territory of himachal pradesh. the effect of section 18, thereforee, is that from may, 1, 1967 the words 'the high court ..... with a preliminary objection raised on behalf of the revenue that this court has no jurisdiction in the matter.(2) under sub-section (8) of section 66 of the indian income-tax act, 1922. the jurisdiction with respect to the union territories of delhi and himachal pradesh was conferred on the high court of punjab. the relevant part of sub-section (8) of ..... the argument of the revenue were to be accepted, an irreconcilable conflict would come into being between the indian income-tax act and the delhi high court act. the whole object of the legislature in passing delhi high court act was to vest the jurisdiction over the territories covered thereby in delhi high court and the interpretation placed by me accords with that object. the ..... s.k. kapur, j.1. the following two questions have been referred to this court by the income-tax appellate tribunal (delhi bench) under section 66(1) of the indian income-tax act, 1922:-'(1) whether on the facts and in the circumstances of the case, the income of rs.3,489 assessable under the head 'toher sources' ?. (2) whether on the facts and in the circumstances .....

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Feb 24 1967 (HC)

NaraIn Singh Vs. Commr. of Income Tax, Delhi

Court : Delhi

Decided on : Feb-24-1967

Reported in : AIR1967Delhi75

..... a subsequent year.'4. since we are concerned with the assessment year 1951-52, the reference has to be answered in the light of section 24(2) of the indian income tax act, 1922 as in existence at that time. section 24(2) at the material time read -'where any assessed sustains a loss of profits or gains in any year, being a ..... was observed 'whether two or more lines of business may be regarded as the 'same business' or different businesses depends nto upon the special methods prescribed by the income tax act for computation of the taxable income, but upon the nature of the business, the nature of their organisation, management, source of the capital fund utilised, method of book keeping and a host of ..... and the demand made on the partners individually.9. slight change was introduced in 1956 by the finance act, 1956 schedule i part d which has no bearing on the present controversy inasmuch as the change was to levy income tax at special low rates on a registered firm also. by virtue of the proviso sections 16(1)(b), and section 23(5 ..... the second and third steps are concerned. by virtue of section 23(5) of the said act, the ttoal income of the firm has to be computed under earlier sub-sections of section 23. that having been done, in case of an unregistered firm, the tax payable by the firm as a distinct entity is levied and demanded from the firm. if, on .....

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Mar 28 1967 (HC)

Banarsi Dass and anr. Vs. Income Tax Officer, B-iii District, New Delh ...

Court : Delhi

Decided on : Mar-28-1967

Reported in : AIR1968Delhi43

..... partners was then assessed separately in accordance with clause (a) of sub-section (5) of section 23 of the indian income tax act, 1922, (hereinafter referred to as the said act). banarsidass's income was determined at rs.9,352 and that of phool chand at rs.18,105. these amounts included their share of profit ..... share in profits of the firm. the remaining -/1/- was being set apart for charity. the firm was registered under the indian income tax act, 1922 for the relevant assessment year.the assessment of the firm was completed for the said year on 5th august, 1946 and ..... the present proceedings.'it is necessary to point out that sub-section (5) of section 35 was introduced by section 19 of the indian income tax (amendment) act, 1953 of (act xxv of 1953) with effect from the 1st april, 1952. the said sub-section reads as under:-'where in respect of any completed assessment ..... observed that in the circumstances that obtain in this case s.35 (5) could be applied. section 35 (5) of the said act empowers certain specified authorities including the income-tax officer to rectify a mistake in the completed assessment of a partner in a firm 'if it is necessitated on the assessment or re ..... could be exercised under sub-section (5) of section 35. his lordship again emphasized the fact by observing:-'the income tax officer has no jurisdiction under clause (5) of section 35 of the act to rectify the assessment of a partner of a firm consequent upon the assessment or reassessment of the firm disclosing .....

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Apr 27 1967 (HC)

S. Jaswant Singh Vs. Commissioner of Income-tax, Delhi

Court : Delhi

Decided on : Apr-27-1967

Reported in : [1968]67ITR175(Delhi)

..... order(1) these are references under section 66(1) of the indian income-tax act, 1922 (to be hereinafter referred to as 'the act'). a common question of law is referred to this court in these cases by the income-tax appellate tribunal (delhi bench) and that question is:'whether on the facts and in the circumstances of case, action under section 34(1) (b) could be ..... made during the last week of january, 1960. the question for consideration is whether ntoices issued against assesseds under section 34(1) (b) of the act are valid ntoices.(3) section 23a(1) provides:'where the income-tax officer is satisfied that in respect of any previous year, the profits and gains distributed as dividends by any company up to the end of ..... ).(7) dealing with the effect of an order under section 23a(1) of the act, this is what chagla, c. j. observed in navinchandra mafatlal v. commissioner of income-tax, bombay : [1955]27itr245(bom) :'this income came into existence for the first time by an order made by the income-tax officer under section 23a on 20th february, 1947, and having come into existence at that ..... has in consequence of information in his possession reason to believe that income, profits or gains chargeable to income-tax have escaped assessment for any year, or have been under-assessed, or assessed at too low a rate, or have been made the subject of excessive under this act, or that excessive loss or depreciation allowance has been computed, he may in cases falling .....

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Jul 04 1967 (HC)

Commissioner of Income-tax Vs. R.B. Jodha Mal Kuthalia

Court : Delhi

Decided on : Jul-04-1967

Reported in : AIR1968Delhi16

..... would nto like to express my views on the validity of the earlier reference as the matter is pending in this court. under section 9(1)(1v) of the indian income-tax act, 1922, 'interest payable' on capital borrowed for acquisition of property is allowable as a deduction. neither before the tribunal nor before us has it been disputed by the revenue that ..... the revenue confined its contention only to the question whether or nto the assessed was owner of the property in question within the meaning of section 9 of the indian income-tax act, 1922. in the order dated august 8, 1963, the tribunal had held that the effect of the evacuee legislation in pakistan was nto to deprive the assessed of ownership in ..... 1952-53, 1955-56 and 1956-57 respectively. except for the difference in the amounts of interest allowed as a deduction to the assessed under section 9 of the indian income-tax act, 1922 and which deduction is sought to be challenged by the revenue there is no difference in the facts of these cases. it is sufficient, thereforee, if i confine myself ..... :'whether on the facts and in the circumstances of the case the assessed continued to be the owner of the property for the purposes of computation of income under section 9 of the indian income-tax act, 1922?'(8) regarding the second question the tribunal said:-'this question is, in our opinion, purely a question of fact, inasmuch as whether the assessed paid the .....

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Aug 24 1967 (HC)

Commissioner of Income-tax Vs. Bharat Insurance Co. Ltd.

Court : Delhi

Decided on : Aug-24-1967

Reported in : [1968]67ITR250(Delhi)

..... been referred to this court by the income-tax appellate tribunal under section 66(1) of the indian income-tax act, 1922 : ' whether, on the facts and in the circumstances of the case, the sum of rs. 33,905 was nto taxable in the hands of the assessed-company in the assessment year 1959-60 as gross external incomings of the previous year '2. the ..... carries on insurance business. the policyholders of the assessed-company paid certain amounts during earlier years on account of the premiums due on their policies. from the order of the income-tax officer it appears that the excess premium was entered in the books of the assessed-company in the premium deposit account. in the relevant accounting period the assessed-company transferred ..... company appealed to the appellate assistant commissioner, and he, relying on morley v. tattersal : [1939]7itr316(cal) held that these amounts did nto constitute ' gross external incomings '.6. the revenue then appealed before the income-tax tribunal and the tribunal observed :-- ' thereforee, it was argued that it did nto really represent the profits and gains of the assessed's business. we consider that ..... as gross external incomings of the year under rule 2(a) of the rules for the computation of the profits and gains of insurance business. section 10(7) of the said act provides that: ' ntowithstanding anything to the contrary contained in section 8, 9, 10, 12 or 18, the profits and gains of any business of insurance and the tax payable thereon shall .....

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Nov 17 1967 (HC)

The Punjab Oil Expellers Company Vs. Madan Lal Nanda and Sons and ors.

Court : Delhi

Decided on : Nov-17-1967

Reported in : 3(1967)DLT56

..... length with the decisions cited on behalf of the petitioner. i would only briefly ntoice them go-piram v. 1st additional income-tax officer lays down that under order 5, rule 17, code of civil procedure, read with section 63, income-tax act, the mere fact that the serving officer went to the defendant's address and found him absent is nto sufficient to establish ..... form of affidavit in urdu pursuant to order v, rule 18 of the code of civil procedure, the blanks of which have been filled in by ude ram chaprasi who acted as process-server in hindi, it is dated 14th april 1958. he has sworn that on 13th/14th april. 1958, he went to ghaziabad and tried to search the agent ..... served. there was accordingly no sufficient cause for setting aside the ex-parte decree. after so holding the executing court also observed that under article 164 of the indian limitation act, the petition was barred by time. for these reasons, the objections were dismissed on 26th march, 1962. (4) on appeal, the learned additional district judge affirmed the conclusion of the ..... dated 13th june 1958 on the ground that there was due service of the defendant and that the application was barred by time under article 164 of the indian limitation act. (2) it would be helpful at this stage to state the relevant facts. the suit out of which these procceedings arise was instituted on 28th march 1958 for the recovery .....

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Aug 03 1967 (HC)

S. Sewa Singh Gill Vs. Income-tax Officer, B-iii District, New Delhi, ...

Court : Delhi

Decided on : Aug-03-1967

Reported in : [1968]70ITR534(Delhi)

..... , dated january 25, 1945, under section 35 cannto be issued.the learned counsel for the petitioner frankly admitted that in view of the provisions contained in section 48 of the income-tax act, 1922, he is nto straightaway entitled to a writ of mandamus for the refund of the amount as prayed for by the petitioner since before he can claim a refund ..... . in the case of the central indian insurance co. ltd., after the matter had been taken in appeal from the order of the income-tax officer, the appellate assistant commissioner exercised the power under section 35 of the indian income-tax act, 1922, and he restricted losses allowed to be carried forward and set off originally, to those incurred in the taxable territories. as a ..... to revise the order passed by him on january 25, 1945, in view of the express provisions contained in section 35(1) and (2) of the indian income-tax act, 1922. section 35(1) provides that the commissioner or the appellate assistant commissioner may, at any time within four years from the date of any order passed by him in ..... november 16, 1954, he was actually given a refund of rs. 4,049 by the excess profits tax officer, but instead of refund of rs. 16,000 as income-tax being made, the petitioner finally received a ntoice under section 22(4) of the income-tax act from the income-tax officer in september, 1956, calling upon him to produce his account books for the assessment year 1945 .....

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Aug 24 1967 (HC)

Vijay Shree (Private) Ltd. Vs. Commissioner of Income-tax, Delhi.

Court : Delhi

Decided on : Aug-24-1967

Reported in : [1968]67ITR420(Delhi)

..... to certain companies from which such buildings and machinery were acquired by the respondent company.&quto;after referring to the provisions contained in section 10 (2) (vi) of the indian income-tax act, 1922, the privy council pointed out that there cannto be any ambiguity with regard to the meaning of the provisions and the provisions talked of &quto;the original cost thereof ..... rent, still the payment of rent was an item of expenditure incurred with reference to the land treated separately and distinctly from the building, under the provisions of the indian income-tax act, 1922, as interpreted by the supreme court in the decision referred to already. consequently, we are of the view that the decision of the the calcutta high court relied ..... stands, will nto be of any assistance in interpreting or construing the scope of the relevant statutory provisions. in our view, so long as the relevant provisions of the indian income-tax act make a distinction between the land on which a building is constructed and the building itself, and allows for depreciation only on the building, any item of expenditure incurred by ..... allowance for depreciation on a &quto;building&quto;, the word &quto;building&quto; did nto include the land on which it is constructed. consequently, the relevant provisions of the indian income-tax act, make a distinction between the land on which a building is constructed and the building itself. thereforee, any general conception or ntoion of one nto being able to think of .....

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Aug 14 1967 (HC)

Narang Industries Ltd. Vs. Commissioner of Income-tax, New Delhi.

Court : Delhi

Decided on : Aug-14-1967

Reported in : [1967]66ITR316(Delhi)

..... the following question of law has been referred to this court by the income-tax appellate tribunal under section 66(1) of the indian income-tax act, 1922 :&quto;was the claim of rs. 15,700 written off in the circumstances mentioned above, a permissible deduction as a bad debt ..... seven annas in the rupee of net profits in lieu of the work done by you. net profits would be arrived at after deducting all expenses and income-tax, etc., after the first lto of fifty thousand bricks has been sold. accounts will be roughly made up every three months and if they disclose a ..... income-tax appellate tribunal. the income-tax appellate tribunal in their order said :on behalf of the assessed it was urged by shri kirpal that the, loan was advanced in ..... ?&quto;narang industries limited (hereafter referred to as the assessed-company) is a public limited company owning a distillery. the assessed-company mainly derives its income from running ..... . it is in these circumstances that this amount of rs. 15,700 was claimed as a bad debt under section 10. the income-tax officer decided that the loss was nto allowable being loss of capital. this finding was upheld buth by the appellate assistant commissioner and by the .....

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