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Judgment Search Results Home > Cases Phrase: income tax act Court: karnataka Year: 1975 Page 1 of about 26 results (0.019 seconds)

Jan 02 1975 (HC)

Additional Commissioner of Income-tax, Mysore Vs. M. Ranga Pai and ors ...

Court : Karnataka

Decided on : Jan-02-1975

Reported in : ILR1975KAR1207; [1975]100ITR413(KAR); [1975]100ITR413(Karn)

..... may not be brought within the purview of this provision..... 65. the minister of finance made the following observations in regard to the provisions of section 55(2) of the income-tax act during his reply to the debate in the lok sabha at the time of clause by clause consideration of the finance bill, 1964 : 'to-day, practically every transaction of the ..... device of an under-statement of the full value of the consideration received or receivable on the transfer of a capital asset. the provision existing in section 52 of the income-tax act before the amendment (which has now been renumbered as sub-section (1) enable the computation of capital gains arising on transfer of a capital asset with reference to its fair ..... that section 52(2) of the act, was attracted to the transaction as the market value of the property ..... ' and, therefore, included the said sum in the gift-tax assessment of the assessee by an order dated october 22, 1965. 4. in the assessment for the year 1964-65 to income-tax, the income-tax officer did not levy income-tax on capital gains on the transaction in question. the commissioner of income-tax, acting under section 263 of the act, set aside the assessment order being of the opinion .....

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Aug 04 1975 (HC)

Addl. Commissioner of Income-tax, Mysore Vs. A.L.N. Rao Charitable Tru ...

Court : Karnataka

Decided on : Aug-04-1975

Reported in : [1976]102ITR474(KAR); [1976]102ITR474(Karn)

..... the assessee was a charitable trust created for the relief of the poor, education and medical relief within the meaning of section 2(15) of the income-tax act, 1961 ?'2. the assessee is a trust constituted by one sri alur laxminarayana rao by a deed, dated 17th march, 1958. the author of ..... and that it was entitled to the exemption in section 11 of the act. 4. the tribunal found that up to the year 1971, the assessee had applied a ..... to the exemption contemplated in section 11 of the act. the appellate assistant commissioner upheld the view of the income-tax officer. on further appeal by the assessee, the tribunal held that the assessee was a charitable trust as defined in section 2(15) of the income-tax act, 1961, that it was a genuine trust ..... of the trust is to carry on business and that, therefore, it is not entitled to exemption under section 11 of the act. this argument, in our opinion, is untenable. in commissioner of income-tax v. sole trustee, loka shikshana trust, on which both the counsel rely, the law has been stated thus : '........... the ..... as they deem proper.' 3. up to and inclusive of the assessment year 1968-1969, the trust was granted exemption from income-tax. but, for the assessment year 1969-70, the income-tax officer took a different view and held that there was no genuine charitable trust in existence and, therefore, the assessee was .....

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Jan 31 1975 (HC)

P. Vittal Pai and ors. Vs. Agricultural Income-tax Officer, Puttur

Court : Karnataka

Decided on : Jan-31-1975

Reported in : ILR1975KAR1175; [1976]104ITR794(KAR); [1976]104ITR794(Karn); 1975(1)KarLJ492

..... , necessary to examine the scope and meaning of the said words. these words are not new to the taxation law. they were found in section 34(3) of the indian income-tax act, 1922, which was the subject of judicial pronouncements. before referring to the decisions it is better to set out sections 34(3) : '(3) no order of assessment or reassessment, other ..... .1. these petitions under article 226 raise a common question of law relating to the scope of the third proviso to section 36 of the karnataka agricultural income-tax act, 1957 (hereinafter referred to as 'the act'). 2. the facts giving rise to these petitions are these : prior to 1958, certain areca garden was jointly held by one p. c. pai and his three ..... , section 66 or section 66a.' 10. the above proviso to section 34(3) of the indian income-tax act, 1922, is analogous to the third proviso to section 36 of the act. 11. while dealing with the scope of the proviso to section 34(3) of the income-tax act in income-tax officer, a-ward, sitapur v. murlidhar bhagwan das, the supreme court observed : 'the words 'any person ..... ', it is said, conclude the matter in favour of the department. the expression 'any person' in its widest connotation may take in any person, whether connected or not with assessee, whose income for any year has escaped assessment .....

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Sep 04 1975 (HC)

Addl. Commissioner of Income-tax, Mysore and anr. Vs. A.L.N. Rao Chari ...

Court : Karnataka

Decided on : Sep-04-1975

Reported in : [1976]103ITR44(KAR); [1976]103ITR44(Karn); 1976(1)KarLJ455

..... the act made in the said order. the relevant facts in brief are : respondent, a. l ..... , 1961, hereinafter called 'the act', in the light of the interpretation of section 11 of ..... 85,262 (but only rs. 70,975), and, therefore, the assessee was not entitled to the exemption provided under section 11 of the act. thus, in the opinion of the commissioner, the order of the income-tax officer was erroneous inasmuch as it was prejudicial to the interests of the revenue. he issued a show-cause notice under section 263 of ..... income-tax officer, mangalore circle, mangalore, against the order made in w.p. no. 597 of 1973 (a. l. n. rao charitable trust v. addl. commissioner of income-tax) by venkataramiah j. by which the learned judge allowed the writ petition filed by the respondent herein and directed the commissioner of income-tax to dispose of the proceedings initiated by him under section 263 of the income-tax act .....

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Jan 31 1975 (HC)

K.a Veerichetty and Sons Vs. Income-tax Officer (Collection), Circle-1 ...

Court : Karnataka

Decided on : Jan-31-1975

Reported in : [1976]102ITR225(KAR); [1976]102ITR225(Karn)

..... before me. 3. the question is whether the said certificate is valid. the answer to the question depends on the validity of attachment effected under section 226(3) of the income-tax act. if the attachment is valid, then the certificate shall be held to be valid. if the attachment is illegal, then it goes without saying that the certificate would be bad ..... . section 226(3) of the income-tax act, 1961, so far as it is relevant provides : '226. (3) (i) the income-tax officer may, at any time or from time to time, by notice in writing require any person from whom money is due or may ..... . veerichetty & sons. the attachment was followed by a certificate issued under section 222 of the income-tax act, stating that rs. 1,35,582 is due from the petitioner on behalf of m/s. v. shanmugam and l. v. veerichettiar as members of the association of persons of ..... for the assessment years 1965-66. the association of persons was assessed determining the tax liability at rs. 3,31,392 as income-tax and rs. 69,280 as annuity deposit. 2. for recovering the above tax, on december 1, 1973, the income-tax officer (collection), salem, under section 226(3) of the income-tax act, attached certain deposit belonging to v. shanmugam, lying with m/s. k. a .....

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Feb 11 1975 (HC)

Additional Commissioner of Income-tax, Bangalore Vs. P. Krishna Kamat

Court : Karnataka

Decided on : Feb-11-1975

Reported in : ILR1975KAR962; [1975]99ITR74(KAR); [1975]99ITR74(Karn)

..... the term 'salary' occurring in section 10(10) of the income-tax act, 1961, includes the 'dearness allowance' and 'special allowance' for purposes of calculating the exempt portion of gratuity received by the assessee for the assessment year 1968-69 ?' 2. the facts ..... chandrashekhar, j.1. at the instance of the income-tax department, the income-tax appellate tribunal, bangalore bench, has under sub-section (1) of section 256 of the income-tax act, 1961 (hereinafter referred to as 'the act'), referred to this court the following question of law : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in holding that ..... the result, our answer to the question referred to us is in favour of the assessee and as follows : 'the income-tax appellate tribunal was right in law in holding that the term 'salary' occurring in section 10(10) of the act includes 'dearness allowance' and 'special allowance' for purposes of calculating the exempt portion of gratuity received by the assessee for the ..... respect of the portion of the gratuity which represented the dearness allowance and special allowance which, according to the income-tax officer, cannot be regarded as a part of his salary for the purpose of sub-section (10) of section 10 of the act. 3. annexure 'c' to the statement of the case is a letter of the management of the canara bank .....

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Jul 03 1975 (HC)

Second Income-tax Officer, Company Circle, Bangalore and anr. Vs. Stum ...

Court : Karnataka

Decided on : Jul-03-1975

Reported in : [1977]106ITR399(KAR); [1977]106ITR399(Karn)

..... at rs. 76,71,176 and statutory deduction at 10% thereof amounting to rs. 7,67,118 has been given. it is seen from the income-tax assessment order that under chapter vi-a of the income-tax act, the income-tax officer while completing the assessment has allowed the following deductions, in all amounting to 3,45,282 : rs.80-i deduction in respect of profits ..... the appellants is to be accepted as correct then every kind of deductions or allowances for expression made in the computations of the total income under income-tax act would have to be treated as income not includible in total income and deductions would have to be made in that behalf also under rule 4. it is not the case of the appellants that such ..... considered is also that employed in that undertaking or business. rule 4 makes provisions for such a contingency where a company has income not includible in the total income under the income-tax act so that the capital employed in respect of such income which is not includible gets excluded in the computations of the chargeable profits. the formula prescribed is for a ready computations. ..... charitable or religious purposes as coming within the purview of chapter iii of the income-tax act. section 2(45) of the income-tax act, 1961, defines 'total income' as meaning : '.......total amounts of income referred to in section 5, computed in the manner laid down in this act.' section 5 provides what the total income in a previous year of a person shall include. the heading of chapter .....

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Sep 17 1975 (HC)

Additional Commissioner of Income-tax Vs. Vijayalakshmi Lorry Service

Court : Karnataka

Decided on : Sep-17-1975

Reported in : [1986]157ITR327(KAR); [1986]157ITR327(Karn)

..... question law, under section 256(1) of the income-tax act, 1961 (hereinafter called 'the act'), for the opinion of this court : 'whether, on the facts and in the circumstances of the case the tribunal was right in holding that the additional commissioner of income-tax was precluded from directing the income-tax officer under section 263 of the act to levy interest under section 139(1)(iii) ..... in the order of the appellate assistant commissioner, the additional commissioner had no jurisdiction to revise the order of assessment under section 263 of the act. the additional commissioner overruled the objections and directed the income-tax officer to revise his order. 4. against the said order, the assessee preferred an appeal before the tribunal. the tribunal upheld the contention of ..... a notice to the assessee on may 29, 1970, purporting to be one under section 263 of the act, proposing to revise the order of the income-tax officer on the ground that it is prejudicial to the revenue as the income-tax officer had failed to charge interest under section 139(1)(iii). the assessee raised various objections. one of the ..... commissioner was precluded from taking proceedings under section 263 of the act. section 139(1) of the act prescribes the time within which a person, if his total income is assessable under the act, shall furnish a return of his income. it also provides for an application by the assessee to the income-tax officer for extension of the date for furnishing the return. the .....

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Mar 06 1975 (HC)

Vijayalakshmi Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Decided on : Mar-06-1975

Reported in : [1975]100ITR648(KAR); [1975]100ITR648(Karn); 1976(1)KarLJ407

..... in favour of the department and as follows : 'on the facts and in the circumstances of the case, the assessee was not entitled to exemption under section 54 of the income-tax act, 1961, on the long-term capital gains arising on the sale of her house property in bombay.' 9. in the circumstances of the case, the parties are directed to bear ..... exemption under section 54 of the income-tax act, 1961, on the long-term capital gains arising on the sale of her house property at bombay ?' 2. the material facts relevant to the above question are briefly these : the ..... chandrashekhar, j.1. at the instance of the assessee, the income-tax appellate tribunal, bangalore bench (hereinafter referred to as 'the tribunal') has, under sub-section (1) of section 256 of the income-tax act, 1961 (hereinafter referred to as 'the act'), referred to this court the following question of law : 'whether on the facts and in the circumstances of the case, the assessee was entitled to ..... not satisfied by the assessee. but in the appeal preferred by her, the appellate assistant commissioner of income-tax held that she had satisfied that condition also and was entitled to the exemption under section 54 of the act. in the further appeal preferred by the income-tax department, the tribunal held that she did not satisfy that condition since she had let out the .....

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Mar 14 1975 (HC)

Thalibai F. JaIn and ors. Vs. Income-tax Officer, Assessment-4, Hubli ...

Court : Karnataka

Decided on : Mar-14-1975

Reported in : [1975]101ITR1(KAR); [1975]101ITR1(Karn)

..... .1. in this batch of writ petitions under article 226 of the constitution, the petitioners challenge the validity of the orders made by the commissioner of income-tax under section 263 of the income-tax act, 1961, for short 'the act'. 2. the facts in all these cases are similar and, for the sake of convenience, i set out those leading up to the petition in ..... erroneous and prejudicial to the interests of the revenue. 10. section 263 of the act is analogous to section 33b of the indian income-tax act, 1922. while dealing with the scope of the latter, the supreme court in smt. tara devi aggarwal v commissioner of income-tax observed that where an income has not been earned and is not assessable merely because the assessee wants it ..... 263, so far as it is relevant, provides : '263. (1) the commissioner may call for and examine the record of any proceeding under this act, and if he considers that any order passed therein by the income-tax officer is erroneous in so far as it is prejudicial to the interests of the revenue, he may, after giving the assessee an opportunity of ..... w.p. no. 6660 of 1974. the petitioner herein is a lady. she filed voluntary returns of income for the assessment that it was her previous savings inclusive .....

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