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Judgment Search Results Home > Cases Phrase: income tax act Court: madhya pradesh Year: 1968 Page 1 of about 24 results (0.054 seconds)

Sep 17 1968 (HC)

New Precision (India) Pvt. Ltd., Dewas Vs. Commissioner of Income-tax, ...

Court : Madhya Pradesh

Decided on : Sep-17-1968

Reported in : AIR1969MP68

..... , cost of raw materials used for experimental work, and the royalties was allowable as a business expenditure under section 10(2)(xv) of the indian income-tax act, 1922. this case is also clearly distinguishable. as pointed out by the supreme court, the assessee ciba of india ltd. did not under the ..... the circumstances of the case, the sum of rupees 40,100/- paid to shri b.v. mahabale is expenditure allowable under section 37 of the income-tax act, 1961?'2. the material facts are that the assessee-company was incorporated on 22nd july 1960. the share holding of the company, as on ..... dixit, c.j. 1. in this reference under section 256 (1) of the income-tax act, 1961, (hereinafter called the act), at the instance of the assessee m/s new precision (india) private ltd., dewas, the question which the income-tax appellate tribunal has referred to us for decision is:'whether on the facts and in ..... an expenditure not of a capital nature but wholly and exclusively laid out for the purposes of business under section 37 of the act. this claim was disallowed by the income-tax officer and, on appeals, by the appellate assistant commissioner and the tribunal 4. there can be no doubt that the payment ..... led to a long string of cases here and in the english courts. the decisions of this court reported inassam bengal cement co. ltd. v. commissioner of income-tax : [1955]27itr34(sc) and pingle industries' case : [1960]40itr67(sc) have considered all the leading cases, and have also indicated the tests, which .....

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Mar 12 1968 (HC)

Badrilal Bholaram Vs. B.K. Srivastava, Income-tax Officer

Court : Madhya Pradesh

Decided on : Mar-12-1968

Reported in : [1970]77ITR954(MP); 1969MPLJ594

..... 4. this application must fail on the short ground that the discretion to treat an assessee as not being in default has to be exercised by the income-tax officer under section 45 of the income-tax act, 1922, on the material before him, and this court cannot substitute its own discretion by issuing any writ or direction under article 226 of the ..... other evidence and to satisfy him that any ground exists for granting them relief under section 45 of the income-tax act. the books of accounts produced by the petitioners were scrutinised by the income-tax officer in their presence. the following observations from the income-tax officer's order clearly show that he has applied his mind to the requirements of the section :'it ..... a request for staying the demand, but the authorities declined to interfere. , thereafter, the petitioners again applied to the income-tax officer under section 45 of the income-tax act, 1922. the income-tax officer called upon the petitioners to appear before him with their books of accounts on 25th february, 1965, and produce such other evidence as desired which would substantiate ..... bholaram, indore, and its partners, apply to this court for a writ of certiorari for quashing an order of the income-tax officer, special investigation circle, indore, dated 27th february, 1965, rejecting their application under section 45 of the income-tax act, 1922 (act no. xi of 1922), and for a writ of mandamus requiring him to forbear from enforcing the demands raised by him .....

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Sep 17 1968 (HC)

New Precision (India) Private Ltd. Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Decided on : Sep-17-1968

Reported in : [1969]72ITR657(MP); 1969MPLJ27

..... consultancy and technical services rendered, cost of raw materials used for experimental work, and the royalties was allowable as a business expenditure under section 10(2)(xv) of the indian income-tax act, 1922. this case is also clearly distinguishable. as pointed out by the supreme court, the assessee, ciba of india ltd., did not, under the agreement become entitled exclusively, even for ..... paid to shri b. v. mahabale is expenditure allowable under section 37 of the income-tax act, 1961 '2. the material facts are that the assessee-company was incorporated on 22nd july, 1960. the shareholding of the company, as on 30th june, 1961, was thus-(i) 260 ..... dixit, c.j.1. in this reference under section 256(1) of the income-tax act, 1961 (hereinafter called the act), at the instance of the assessee,m/s. new precision (india) private ltd., dewas, the question which the income-tax appellate tribunal has referred to us for decision is :' whether, on the facts and in the circumstances of the case, the sum of rs. 40,100 ..... ground that this was an expenditure not of a capital nature but wholly and exclusively laid out for the purposes of business under section 37 of the act. this claim was disallowed by the income-tax officer and, on appeals, by the appellate assistant commissioner and the tribunal.5. there can be no doubt that the payment of rs. 40,100 which the .....

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Sep 17 1968 (HC)

Late Nawabzada Rashiduzzafar Khan (by Legal Representative) Vs. Commis ...

Court : Madhya Pradesh

Decided on : Sep-17-1968

Reported in : [1969]72ITR523(MP); 1969MPLJ121

..... the mansab received by the assessee, namely, the sum of rs. 1,07,591, is income liable to assessment under the income-tax act ?'2. the material facts are these : the assessee, nawabzada rashiduzzafar khan, who is now dead and is represented before us by his legal representative, belonged to the ..... . shaw wallace and company, a.i.r. 1932 p.c. 138. the sum of rs. 1,07,591 received by the assessee was, therefore, income liable to assessment under the income-tax act.11. the learned advocate-general also attempted to argue that the annuity received by the assessee was placed for ten years under the disposal of the controller of wakfs by ..... singh, j.1. this is a reference at the instance of the assessee made by the income-tax appellate tribunal under section 66(1) of the income-tax act, 1922. the question of law referred to us is ;' whether, on the facts and in the circumstances of the case, having regard to the notification, the sanad and the rules, ..... ,07,591-15-05. in accordance with this notification the assessee received the yearly grant of rs. 1,07,591-15-0. this receipt was assessed to income-tax under section 12 of the act in the assessment years 1955-56 and 1956-57, but in the assessment proceedings for the year 1957-58 relating to the previous year ending 31st march, 1957 .....

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Jan 03 1968 (HC)

Smt. Gulabbai Legal Representative of Late Karelal Kundanlal Vs. Commi ...

Court : Madhya Pradesh

Decided on : Jan-03-1968

Reported in : AIR1968MP181; [1968]69ITR238(MP); 1968MPLJ223

..... income-tax calcutta v. jitendra nath mallick : [1963]50itr313(cal) . the appellate assistant commissioner accepted the contention and allowed the inclusion of only one-fourth ..... income tax officer, however, held that as one-fourth income was actually spent on charities, the assessee was entitled to deduction of the ..... urged that inasmuch as the trust-deed did not provide for return of whole of the income to the settlor. the three-fourth income was outside the ambit of the first proviso and was governed by the third proviso to section 16(1)(c) of the income-tax act. in support, reliance was placed on the decision of the calcutta high court in commissioner of ..... smt. tarabai. (iii) the remaining four annas share was to be spent on charities 4. the income tax officer held that the settlement of the property was revocable in view of the first proviso to section 16(1)(c) of the income-tax act, 1922, and as such the whole of the income from the said property was assessable in the hands of the assessee. the .....

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Feb 02 1968 (HC)

Deepchand Daga Vs. Income-tax Officer, C-ward and anr.

Court : Madhya Pradesh

Decided on : Feb-02-1968

Reported in : [1970]77ITR661(MP); 1969MPLJ677

..... accorded his sanction to initiate any proceedings for an assessment under section 147. apart from this, it is not necessary or imperative that a notice under section 147 of the income-tax act, 1961, must specify under which of the clauses, clause (a) or (b), it is issued. the main notice to be issued in a case under section 147, is the notice ..... stood in need of money to pay off his creditors and to perform his daughter's marriage. his claim, however, was negatived. 4. the income-tax officer, ' c '-ward, raipur, has now served notices under section 148 of the income-tax act, 1961, on m/s. lalchand santoshkumar, raipur, and on m/s. deepchand phoolchand daga (h.u.f.), raipur, for the purpose of determining ..... , ' c'-ward, raipur, upon the hindu undivided family 'deepchand phoolchand daga, raipur ', under the provisions of section 148 of the income-tax act, 1961 (act 43 of 1961), for a writ in the nature of prohibition to restrain the income-tax officer from proceeding with the threatened assessment, and for an appropriate writ, direction and order asking him to withdraw the said notice. 2. the facts ..... , to shri deepchand phoolchand daga,raipur (h. u. f.) whereas i have reason to believe that your income chargeable to tax for the assessment year 1957-58 has escaped assessment within the meaning of section 147 of the income-tax act, 1961. i, therefore, propose to assess the income for the said assessment year and i hereby require you to deliver to me within 30 days .....

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Mar 08 1968 (HC)

Commissioner of Income-tax, M.P. Vs. Badrilal Bholoram

Court : Madhya Pradesh

Decided on : Mar-08-1968

Reported in : AIR1969MP9; 1968MPLJ739

..... /s badrilal bholaram, for the years 1956-57, 1957-58, 1958-59 and 1959-60 respectively are liable to be included in the total income of the assessee under section 16 (3) (a) (ii) of the indian income-tax act, 1922? '2. the material facts are that the assessee badrilal, his three major sons and a minor son sureshchandra constituted a hindu undivided family ..... dixit, c.j.1. this consolidated reference under section 66(1) of the indian income-tax act, 1922, by the income-tax appellate tribunal at the instance of the commissioner of income-tax arises out of the tribunal's common order disposing of the assessee's appeals for the assessment years 1956-57, 1957-58, 1958-59 and 1959-60. the question, which ..... that interest amount is also assessable in the hands of the assessee badrilal under section 16 (3), (a) (ii) of the act.9. the view we have taken is amply supported by authorities. in ram narain garg v. commr. of income tax, u. p. : [1965]55itr435(all) the allahabad high court held that interest paid to a minor son admitted to the benefits ..... earned by him on the capital amount standing to his credit as also interest on accumulated profits were included in the total income of the assessee badrilal. this inclusion was made by the income-tax officer under section 16 (3) (a) (ii) of the act.4. the assessee then preferred appeals before the appellate assistant commissioner questioning the correctness of the decision of the .....

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Sep 24 1968 (HC)

Commissioner of Income Tax, M.P. and Nagpur Vs. Champalal Sukhram

Court : Madhya Pradesh

Decided on : Sep-24-1968

Reported in : AIR1969MP72; [1969]72ITR417(MP); 1969MPLJ41

..... commissioner imposing the penalty taking the view that as the assessment for the year 1961-62 was completed under section 23 (3) of the indian income-tax act, 1922, no penalty could be imposed under section 271 of the income-tax act, 1961, and, further; that the addition of certain unexplained cash credits by itself did not justify the levy of penalty for concealment of ..... section 271 read with section 274 of the income-tax act, 1961? 2. if the answer to question no. 1 is in the affirmative, whether on the facts and in the ..... . the answer to the first question is obvious from the provisions of section 297(2)(g) of the income-tax act, 1961. that provision says that notwithstanding the repeal of the indian income-tax act, 1922, any proceeding for the imposition of a penalty in respect of any assessment for the year ending on the 31st march 1962, or any earlier year, which is ..... . in this reference under section 66(1) of the indian income-tax act, 1922, at the instance of the commissioner of income-tax, the income-tax appellate tribunal has referred the following two questions to this court for decision-'1. whether in respect of the assessment for 1961-62 made under the provisions of the indian income-tax act, 1922, penalty proceedings could be validly initiated and concluded under .....

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Oct 17 1968 (HC)

Gwalior Rayon Silk Manufacturing (Weaving) Co. Ltd. Vs. Income-tax Off ...

Court : Madhya Pradesh

Decided on : Oct-17-1968

Reported in : AIR1969MP100; [1969]73ITR95(MP); 1969MPLJ61

..... the last paragraph of his earlier letter dated the 16th january 1965, informed the petitioner that in view of the amendment made in section 220(2) of the income-tax act, 1961, (hereinafter called the act), raising, with effect from 1st april 1965, to six per cent the interest payable by an assessee under sub-section (2) of section 220, the rate of interest ..... ), it was said, was made operative specifically only from 1st april 1965, and, therefore, it could not affect anything done or any action taken by the income-tax officer under section 220(3) of the act or any demand raised by him prior to 1st april 1965.6. learned counsel further submitted that even if it be assumed that sub-sections (2) and ..... six per cent per annum from 1st april 1965 under the amended section 220(2) of the act, cannot therefore be accepted.10. coming to sub-section (3) of section 220, under which the income-tax officer granted to the petitioner the facility of paying the tax amount by instalments on the condition of the petitioner paying interest at the rate of five per ..... the provisions contained in sub-section (2)'. hence the rate of interest on the unpaid balance of tax will be 6% with effect from 1-4-1965.'thereafter the income-tax officer issued to the petitioner a notice of demand under section 156 of the act for each of the assessment years calculating interest at the rate of six per cent per annum on .....

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Oct 10 1968 (HC)

Central India Machinery Manufacturing Co. Ltd., Gwalior Vs. Commission ...

Court : Madhya Pradesh

Decided on : Oct-10-1968

Reported in : AIR1969MP145; [1969]72ITR242(MP); 1969MPLJ164

..... that the tribunal was right in holding that the initial and additional depreciation permissible under sections 10 (2) (vi) (a), (b) and (c) and 10 (2) (vi-a) of the income-tax act, 1922, could not be taken into account in determining the net value of the assets of the assessee under section 7(2)(a) of the ..... a), (b) and (c) and 10 (2) (vi-a) of the income-tax, act, 1922, could not be allowed and must be excluded. according to him, the depreciation allowable under the aforesaid provisions of the income-tax act, 1922, was for the purpose of computing business profits only with a view to give incentive to growth of industries ..... , therefore, rejected the claim of the assessee that the valuation of its assets for the purposes of its assessment to wealth-tax should be made after allowing depreciation according to the provisions of the income-tax act, 1922.3. in the appeals which the assessee then preferred the appellate assistant commissioner look the view that even though no depreciation had been shown in the ..... make a readjustment of the valuation of the fixed assets of the assessee for purposes of its assessment to wealth-tax by allowing depreciation according to the provisions of the income-tax act in respect of machinery, buildings etc. he, however, held that in determining the net value of the assets the initial and additional depreciation referred to in sections 10 (2)(vi) ( .....

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