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Judgment Search Results Home > Cases Phrase: income tax act Court: karnataka Year: 1968 Page 1 of about 33 results (0.087 seconds)

Nov 29 1968 (HC)

Vijaya Traders Shimoga Vs. Commissioner of Income Tax, Mysore

Court : Karnataka

Decided on : Nov-29-1968

Reported in : (1969)1MysLJ284

..... . the question of law referred to us reads:'whether on the facts and in the circumstances of these cases, the income-tax appellate tribunal was right in law in holding that the income-tax officer could act on the proviso to section 13 of the income-tax act, 1922, for completing the assessment for the assessment year 1961-62 and on the proviso to sub-section (1) ..... proviso to sub-section (1) of section 145 of the income-tax of the income-tax act, 1961, in respect of the assessment year ..... assessment having rejected the accounts produced by the assessee under section 13 of the indian income tax act, 1922, in one case and under the proviso to sub-section (1) of s. 145 of the income-tax act. 1961, in the other. the appeals preferred to the assistant commissioner and the income tax appellate tribunal were dismissed. this reference is made by the tribunal to us under ..... the inventory even if true has no materiality in the sphere computation of income.14. so, our answer to the question before us, therefore, is that the income-tax appellate tribunal was in error in affirming the assessments made by the income-tax officer under the proviso to section 13 of the income-tax act, 1922 in respect of the assessment year 1961-62 of under the .....

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Nov 07 1968 (HC)

Bedi and Co. (Private) Ltd. Vs. Income-tax Officer Central Circle Ii, ...

Court : Karnataka

Decided on : Nov-07-1968

Reported in : [1969]73ITR586(KAR); [1969]73ITR586(Karn); (1969)1MysLJ430

..... to purchase shares of that value in the paper mills. 4. in the record of the reason made by the income-tax officer under section 148 of the income-tax act, 1961, which he incorporates in a communication which he addressed to the commissioner of income-tax on september 12, 1966, for the commissioner's sanction for initiation of proceedings under section 147(a) for reassessment he ..... )(d)(ii) makes it clear that the operation of section 147(a) cannot be restarted in that way. that clause reads : '297. (2) notwithstanding the repeal of the indian income-tax act, 1922 (11 of 1922) (hereinafter referred to as the repealed act),--....... (d) where in respect of any assessment year after the year ending on the 31st day of march, 1940, -.................. (ii) any ..... respect of the assessment year 1960-61. a notice for that purpose was sent to the assessee by the income-tax officer under section 148 of the income-tax act, 1961. 2. the assessee is a private company called bedi & co.(p.) ltd., which engaged itself in the activity of promoting the formation of a public company called the mandya ..... in treat case that the expression 'reason to believe' occurring in section 34 of the indian income-tax act, 1922, which contains words similar to those words in section 147(a) of the new act, do not refer to a purely subjective satisfaction on the part of the income-tax officer, and that the belief must be held fin good faith and cannot be merely a .....

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Oct 16 1968 (HC)

L.B. Belamkar Vs. Commissioner of Income-tax Mysore

Court : Karnataka

Decided on : Oct-16-1968

Reported in : ILR1968KAR1124; [1969]73ITR131(KAR); [1969]73ITR131(Karn)

..... was saved from the bar of limitation under the second proviso to section 34(3) of the income-tax act. for the first time the department advanced a new argument before the supreme court that in answering that question the effect of section 2 of the income-tax (amendment) act, 1959, should be taken into consideration and that that aspect was within the framework of the ..... action could when the assessee received from government compensation for such loss be properly included in the income of the assessee. such inclusion was possible only under the fourth proviso to section 10(2) (vii) of the income tax act. but that proviso was not in the act on april 1, 1946, but came into effect only on may 4, 1946, and was not retrospective ..... the previous year with respect to income from undisclosed sources is the relevant financial year and not the year of accounting of the assessee if it is ..... the order of the tribunal, our decision on that question of law should be that the income from undisclosed sources was the income of the assessee for the assessment year 1958-59, and not of the assessment year 1959-60. 5. section 2(11) of the indian income-tax act, 1922, which is the relevant statutory provision applicable to this case, makes it clear that .....

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Jan 23 1968 (HC)

(In Liquidation) Official Liquidator Vs. Commissioner of Income-tax, B ...

Court : Karnataka

Decided on : Jan-23-1968

Reported in : [1969]39CompCas896(Kar); [1968]68ITR295(KAR); [1968]68ITR295(Karn); (1970)2MysLJ512

..... quantification or collection of the income-tax, he should obtain the leave of the ..... of section 4 of the income-tax act, that therefore any receipt in the course of winding up which would attract liability to income-tax under appropriate provisions of the income-tax act, would be liable to income-tax or for payment of tax under the income-tax act, but that before any action can be taken by the appropriate income-tax officer under the income-tax act for the purpose of ..... winding-up court under section 446 of the companies act, and further that the collection of tax ..... of the company called the principal officer. the definition of the principal officer both in clause (12) of section 2 of the income-tax act, 1922, and in clause (35) of section 2 of the income-tax act, 1961, is to the same effect so far as our present enquiry is concerned. according to the relevant portion of the definition .....

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Nov 29 1968 (HC)

Vijaya Traders Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Nov-29-1968

Reported in : [1969]74ITR279(KAR); [1969]74ITR279(Karn)

..... question of law referred to us reads : 'whether, on the facts and in the circumstances of these cases, the income-tax appellate tribunal was right in law in holding that the income-tax officer could act on the proviso to section 13 of the income-tax act, 1922, for completing the assessment for the assessment year 1961-62 and on the proviso to sub-section (1) of ..... assessment having rejected the accounts produced by the assessee under section 13 of the indian income-tax act, 1922, in one case and under the proviso to sub-section (1) of section 145 of the income-tax act, 1961, in the other. the appeals preferred to the assistant commissioner and the income-tax appellate tribunal were dismissed. this reference is made by the tribunal to us under ..... inventory, even if true, has no materiality in the sphere of computation of income. 13. so, our answer to the question before us, therefore, is that, the income-tax appellate tribunal was in error in affirming the assessments made by the income-tax officer under the proviso to section 13 of the income-tax act, 1922, in respect of the assessment year 1961-62 or under the ..... proviso to sub-section (1) of section 145 of the income-tax act, 1961, in respect of the assessment year 1962- .....

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Sep 21 1968 (HC)

S. Adappa Vs. Transport Commissioner in Mysore and anr.

Court : Karnataka

Decided on : Sep-21-1968

Reported in : AIR1969Kant222; AIR1969Mys222; (1968)2MysLJ581

..... motor vehicles (taxation on passengers and goods) act. 1961. what the privy council observed in that case reads--'the officer is to make an assessment to the ..... must rest upon the consideration of some material which should be gathered and collected by the tax officer.8. what was said by the privy council in c. i. t. v. lakshminarayan badridas, 1937 itr 170 with respect to a best judgment assessment under the income-tax act, is, we think, equally applicable to at best judgment determination under section 6 of the mysore ..... was served on him on 18-6-1964. but he failed to attend the hearing on due date. according to provision of section 6 of the act it is therefore necessary to determine the tax on the basis that the public carrier had covered its full complement during the period.'7. it is plain that that is not how the determination could ..... of fact is not open to discussion in this court.5. but we are of the opinion that the determination made by the tax officer suffers from a fundamentals defect. section 6 of the act confers power on the tax officer to make a best judgment determination in a case where no return has been submitted by the operator, after giving him a .....

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Oct 17 1968 (HC)

B. Narasimha Reddy Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Oct-17-1968

Reported in : [1969]74ITR276(KAR); [1969]74ITR276(Karn)

..... somnath iyer, j.1. this is a reference directed by this court under section 66(2) of the indian income-tax act, 1922, at the instance of the assessee and the question of law which is now before us is whether, on the facts ..... and in the circumstances of the case, the appellate assistant commissioner was justified in law in enhancing the revised figure of income computed by the income-tax officer by a sum of rs. 3,822. the material facts are the case : the assessee was a transport and clearing contractor for ..... relevant period, the income-tax officer determined the income from the transport business to be rs. 6,875 and the income from the lorry business to be rs. 8,600. but in proceedings under section 34 of the act when there was a reassessment of the income, the income-tax officer came to the conclusion that the income format the transport ..... was rs. 4,778. the effect of the reassessment made by the income-tax officer was that the original income for ..... business was rs. 15,525 and that the income from the very lorry business .....

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Oct 25 1968 (HC)

Lakshmi Bags Manufacturing Co. Vs. the State of Mysore and ors.

Court : Karnataka

Decided on : Oct-25-1968

Reported in : [1969]24STC361(Kar)

..... & co, v. viswanatha sastry, : [1954]26itr1(sc) the relevant provisions of the taxation on income (investigation commission) act were declared void for the reason that, whereas in the case of an assessee who had concealed his income and had been proceeded against under section 34 of the indian income-tax act, be could have preferred an appeal to the assistant commissioner in which he could challenge ..... the findings of fact recorded by the income-tax officer and would be further entitled to prefer an appeal to the ..... income-tax appellate tribunal, a person whose case was dealt with under the other act had no such right. 9. the ..... court in state of kerala v. appukutty ([1963] 14 s.t.c. 242.) in which the elucidation made with respect to similar provisions occurring in the madras general sales tax act was that the expression 'appellate authority' referred to in those statutory provisions is merely descriptive and so excludes the concept of a pending appeal. 4. we think that there can .....

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Oct 17 1968 (HC)

P. Venkanna Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Oct-17-1968

Reported in : [1969]72ITR328(KAR); [1969]72ITR328(Karn)

..... in a fall in the gross profits is not a rule of universal application. in this reference directed by this court under section 256(2) of the income-tax act, 1961, the question of law which is before us reads : 'whether, on the facts and in the circumstances of this case, there was material for ..... the evidence such as the trading conditions in similar trade or on the reconstruction of the accounts books of the assessee on the basis selected by the income-tax officer which was different from the one adopted by the assessee.'dutta j., expressing the same view, observed : 'in the case before us the ..... to infer that the proportion between the turnover and the profits remains unaltered. 9. but there was no institution of any such comparison by the income-tax officer since he did not depend upon the estimation of the profits of the earlier years. his estimation depended on a formula evolved for other assessees ..... the tribunal to set aside the order of the appellate assistant commissioner which gave the assessee a reduction of rs. 4,000?'now, the income-tax officer's assessment order, which makes it clear that he did not depend upon the percentage selected for the earlier periods, reads : 'the sales shown ..... his return, to rs. 1,08,718 and the gross profit shown in the return was 22.3 per cent. of that turnover. 2. the income-tax officer who did not accept the accounts produced by the assessee estimated the gross turnover to be rs. 1,16,000 and he estimated the gross profits .....

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Oct 17 1968 (HC)

R.B. Angadi and Sons Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Oct-17-1968

Reported in : ILR1969KAR122; [1969]73ITR93(KAR); [1969]73ITR93(Karn)

..... constituted, could it be said that the shares of the partners in losses have not been specified in the deed disentitling if from getting registration under the income-tax act ?' 2. if the first question is answered in favour of the assessee, as in our opinion it should be, the answer to the second question becomes ..... instrument of partnership should specify the shares of the partners in losses also in order to enable the firm to secure registration under the provisions of the income-tax act, 1922. it is not necessary to answer the second question and we, therefore, do not answer it. 4. the assessee will get his costs. advocate ..... made by the appellate assistant commissioner and restored that made by the income-tax officer who refused registration under section 26 a of the act. the two question of law referred to us read : '(1) whether for obtaining registration under the provisions of the income-tax act, 1922, it is necessary for a firm to specify the shares of ..... somnath iyer, j.1. this is a reference under section 66(1) of the indian income-tax act, 1922, sought by the assessee which is a firm in hubli. there were four partners in the firm and in the opinion of the ..... unnecessary. our answer to the question should be in favour of the assessee since the enunciation made by this court in sannappa v. commissioner of income-tax makes it clear that refusal of registration under section 26a is not possible in a case where the instrument of partnership specifies the individual shares of the .....

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