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Judgment Search Results Home > Cases Phrase: income tax act Court: gujarat Page 1 of about 6,641 results (0.033 seconds)

Aug 17 1981 (HC)

Arundhati Balkrishna Vs. Commissioner of Income-tax, Gujarat

Court : Gujarat

Reported in : (1982)29CTR(Guj)85; [1982]138ITR245(Guj)

..... were not transferseffected before march 1, 1970,as contemplated in section47(viii) of the income-tax act,1961 ?3. whether, on the facts and in in the affirmative andthe circumstances of the case, against the assessee inthe tribunal was right in view of smt. ..... of theregistration of the instrumentof transfer subsequent tofebruary 28, 1970, the transfersin questions were not transferseffected before march 1, 1970,as contemplated in section47(viii) of the income-tax act,1961 ?2. whether, on the facts and in in the negative andthe circumstances of the case, against the revenue.the tribunal was justified inholding that the transfers inquestion ..... were not transferseffected before march 1, 1970,as contemplated in section47(viii) of the income-tax act,1961 ?3. whether, on the facts and in in the negative andthe circumstances of the case, against the revenue.the tribunal was justified innot accepting the assessee ..... because of theregistration of the instrumentof transfer subsequent tofebruary 28, 1970, the transfersin question were not transferseffected before march 1, 1970, ascontemplated in section 47(viii)of the income-tax act, 1961 ?2. whether, on the facts and in in the negative andthe circumstances of the case, against the revenue.the tribunal was justified inholding that the transfers inquestion .....

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May 04 1981 (HC)

Commissioner of Income-tax, Gujarat-i Vs. Kartikey V. Sarabhai

Court : Gujarat

Reported in : (1981)24CTR(Guj)184; [1981]131ITR42(Guj)

..... of the in favour of thecase, the tribunal was right revenue.in law in holding that therewas a transfer within themeaning of section 2(47) ofthe income-tax act, 1961, ofthe shares contributed bythe assessee as capital tothe partnership firm in whichhe was a partner ?it is clarified thatthe factual position asto whether or ..... the circumstances of the case, the tribunal was right in law in holding that there was a transfer within the meaning of section 2(47) of the income-tax act, 1961, of the shares contributed by the assessee as capital to the partnership firm in which he was a partner ?' 31. so far as this ..... from the transfer of or accruing from thethe shares held by him to the transaction are exigiblepartnership firm as his to tax undercapital contribution, the section 45 of thecost of acquisition of the income-tax act of 1961.shares to the assessee beingrs.1,49,819 and the marketvalue of the shares beingrs.1,60,279 ? ..... the two matters for a certificate of fitness to appeal to the supreme court as envisioned by section 261 of the income-tax act, 1961. we consider each of the two cases to be a fit one for appeal to the supreme court. we certify accordingly. ..... be pointed out that the general concept of relationship between a partner and the firm as applicable under the indian partnership act, 1932, acquires a particular significance under the provisions of the income-tax law. the line of division between a partner and the firm as obtaining under the partnership law need not necessarily .....

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Mar 31 1986 (HC)

Rajkot Engineering Association and ors. and Vs. Union of India and ors ...

Court : Gujarat

Reported in : (1986)54CTR(Guj)272; (1987)1GLR3; [1986]162ITR28(Guj)

..... turnover for an assessee carrying on business or gross receipts for an assessee carrying on profession has no relation to the income under the income-tax act, and they operate so unreasonably that even of real income as determined under the income-tax act may be very small, the assessee having the prescribed gross turnover or gross receipts would be within the purview of the ..... than those specified in sub-section (1) shall keep and maintain such books of account and other documents as may enable the income-tax officer to compute his total income in accordance with the provisions of the income-tax act, if his income from business or profession exceeds rs. 25,000 or his total sales, turnover or gross receipts in business or profession exceed rs ..... , therefore, we must reject this contention. 61. re : contention no. 1. - on behalf of the petitioners, it has been urged that the impugned section 44ab of the income-tax act, 1961, inasmuch of the obligations and functions prescribed for the chartered accountants are beyond the obligations and functions associated with the auditors in the classical sense since the main enactment ..... . a particular privilege conferred or an obligation entailed with reference to the gross receipts or turnover or with the value of the property is not foreign to the present income-tax act. the privilege of having a permanent account number under section 139a or initiation of acquisition proceedings under section 269c are illustrations to the point. we do not think, .....

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Jun 28 1984 (HC)

Gujarat Industrial Development Corporation Vs. Commissioner of Income- ...

Court : Gujarat

Reported in : (1985)45CTR(Guj)68; [1985]151ITR255(Guj)

..... are serving an important public purpose and do not exist for private profit, it is proposed to make a specific provision in the income-tax act exempting the income of such boards from tax altogether. the provision, as proposed, exempts from tax any income of an authority constituted in india by or under any law enacted either for the purpose of dealing with and satisfying the need ..... not exempt under article 289(1) of the constitution of india ?2. whether the tribunal was right in holding that the income of the assessee-corporation was not exempt from payment of income-tax under the provisions of section 10(20a) of the income-tax act, 1961 ?'4. we may refer to article 289(1) of the constitution of india which reads as under:' 289. exemption ..... .12. so far as the second question is concerned, exclusion of income is claimed under section 10(20a) of the income-tax act which runs as under :' 10. in computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included--(20a) any income of an authority constituted in india by or under any law ..... of property and income of a state from union taxation.--(1)the property and income of a state shall be exempt from union taxation .....

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Sep 06 1973 (HC)

Maneklal Bhagwandas Vs. N.N. Sheth, Income-tax Officer, Surat

Court : Gujarat

Reported in : [1974]94ITR287(Guj)

..... or about july 10, 1969, the respondent raided the premises of the petitioner and the raid was carried out under the provisions of section 132 of the income-tax act, 1961, (hereinafter referred to as 'the act'). amongst various articles seized from the petitioner the respondent seized an amount of rs. 1,70,000 and 23 guineas. it is the case of the petitioner ..... , a division bench of this high court consisting of bhagwati c.j. and t. u. mehta j. has held that the provisions of the income-tax act relating to search and seizure contained in sub-sections (1) (c) (iii) and (5) of section 132 are not violative of articles 14 and 19(1)(f) of the constitution ..... money, bullion, jewellery or other valuable article or thing represents either wholly or partly income or property which was not been disclosed for the purposes of the indian income-tax act, 1922, or this act, he may authorize any deputy director of inspection, inspecting assistant commissioner, assistant director of inspection or income-tax officer to seize any such books of account, other documents, money, bullion, jewellery or ..... the undisclosed property) in a summary manner to the best of his judgment on the basis of such materials as are available with him, calculating the amount of tax on the income so estimated in accordance with the provisions of the indian income-tax act, 1922, or the 1961 act and specifying the amount that will be required to satisfy any existing liability under the 1961 .....

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Aug 10 1982 (HC)

Gujarat Mineral Development Corporation Ltd. Vs. Commissioner of Incom ...

Court : Gujarat

Reported in : [1983]143ITR823(Guj)

..... particular case is of the nature of capital expenditure or revenue expenditure in which latter event only it would be a deductible allowance under section 10(2)(xv) of the income-tax act.' 24. it would, therefore, appeal from the above observations of the supreme court that the test of fixed capital or circulating capital could be invoked only if the test of ..... by the assessee to the owner was in the nature of capital expenditure or revenue expenditure allowable under s. 12(2)(xv) of the hyderabad income-tax act, corresponding to s. 10(2)(xv) of the indian i.t. act, 1922. in the backdrop of these facts the supreme court, by majority, held that since the assessee acquired by him long-term lease the ..... by mr. j.p. shah for the assessee. section 45 of the act provides that any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in ss. 53, 54,54b, 54d and 54-r be chargeable to income-tax under the head 'capital gains', and shall be deemed to be the ..... . 28(1) or s. 45 read with s. 2(47) of the act. section 28(i) on which reliance was placed provides that the profits and gains of any business or profession carried on by the assessee at any time during the previous year shall be chargeable to income-tax under the head 'profits and gains of business or profession'. in order to .....

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Feb 16 1976 (HC)

Marghabhai Kishabhai Patel and Co. Vs. Commissioner of Income-tax, Guj ...

Court : Gujarat

Reported in : [1977]108ITR27a(Guj)

..... distributed is not prohibited. a taxpayer may resort to a device to divert depends not upon considerations of morality, but on the operation of the income-tax act. legislative injunction in taxing statutes may not, except on peril of penalty, be violated, but it may lawfully be circumvented. it is a well accepted principle of law that an assessee can so arrange ..... in taxing statutes may not, except on peril of penalty, by violated, but it may lawfully be circumvented.' 18. in the instant case, it is nobody's case that the transactions of ..... commissioner of income-tax v. a. raman & company : [1968]67itr11(sc) : 'avoidance of tax liability by so arranging commercial affairs that charge of tax is distributed is not prohibited. a taxpayer may resort to a device to divert the income before it accrues or arises to him. effectiveness of the device depends not upon considerations of morality, but on the operation of the income-tax act. legislative injunction .....

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Dec 12 1989 (HC)

R. Laxmichand and Co. and ors. Vs. Union of India and ors.

Court : Gujarat

Reported in : (1990)84CTR(Guj)232; [1990]184ITR376(Guj)

..... business in tendu leaves. the petitioners have challenged the vires of sections 44ac and 206c of the income-tax act, 1961 (for short 'the act'), as inserted by the finance act, 1988. an incidental prayer in the petition is to restrain respondent no. 7, orissa forest corporation limited, from recovering the amount of income-tax pursuant to the provisions contained in sections 44ac and 206c of the ..... act. 2. the petitioners purchased tendu leaves from respondent no. 7, orissa forest corporation limited, the principal office of which is situated at bhuvneshwar (orissa) and which carries ..... on its activity within the territory of the state of orissa or, at any rate, the action of respondent no. 7 deducting income-tax at source as per the provisions contained in sections 44ac and 206c of the act does not take place within the territory of gujarat. respondents nos. 1 to 6 are the union of india and other ..... income-tax authorities. by order dated december 1, 1989, this court (coram : r. c. mankad, actg. c.j., and r. a. mehta j.) has issued rule and granted .....

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Feb 25 1980 (HC)

Commissioner of Income-tax Vs. S.G. Pgnatale

Court : Gujarat

Reported in : (1980)16CTR(Guj)337

..... majority of the judges who heard the matter in the supreme court, observed at page 49 :' the word ' earned ' has not been used in section 4 of the income-tax act. the section talks of ' income, profits and gains ' from whatever source derived which (a) are received by or on behalf of the assessee, or (b) accrue or arise to the assessee in the ..... so far as the retention remuneration is concerned is whether within the meaning of section 9(1)(ii) of the act the retention remuneration can be said to be salary earned in india. under section 15 the following income shall be chargeable to income-tax under the head ' salaries--(a) any salary due from an employer or a former employer to an assessee in ..... whether in the light of the provisions of the i.t. act, 1961, the decision of the tribunal was correct. section 4 of the i.t. act is the charging section and it provides :' where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that ..... year in accordance with, and subject to the provisions of, this act in respect of the total income of the previous year or previous years, as the case .....

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Apr 04 2005 (HC)

Sales Tax Officer (Enforcement) Vs. Fag Precision Bearings Ltd.

Court : Gujarat

Reported in : [2005]141STC339(Guj)

..... are with reference to the provisions of income-tax act, the principle laid down therein will be equally applicable to the situation arising under the gujarat sales tax act. so far as the provisions of sales tax act is concerned, the same is in pari-materia with the provisions of income tax act though income tax act is a direct tax and sales tax is an indirect tax. however, for the purpose of ..... required to pay sales-tax with the returns which are required to be filed either ..... assessment is concerned, the basic scheme of both the act is similar.13.1 under the gujarat sales-tax act, the dealer is ..... court may review the judgment of this court.12a. as far as income-tax act is concerned, section 4 provides charge of income-tax which reads as under:'sec. 4 charge of income-tax : (1) where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year .....

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