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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1968 Page 1 of about 50 results (0.034 seconds)

Dec 04 1968 (HC)

K.J. Somaiya Vs. Commissioner of Income-tax, Bombay

Court : Mumbai

Decided on : Dec-04-1968

Reported in : [1971]79ITR631(Bom)

..... claimed as a deduction in the subsequent year except in the cases coming under section 10(2) (xi) of the income-tax act. the argument that because the item was once subjected to tax should be allowed to be deducted on that score is, in our opinion, not capable of being justified at all. 6. as to the other ..... in it. in view of these findings, it is impossible to look upon the deduction as a bad debt of the business under section 10(2) (xi) of the indian income-tax act. 5. it is also difficult to accept the assessee's contention that the said item should be deducted in computing the real ..... , and in our opinion the tribunal is right in what it has stated. an income receipt, which has borne tax in an earlier year, if it is lost to the assessment in a subsequent year, cannot be ..... income of the assessee on the ground that the item represented the income receipt of earlier years on which tax was paid and which in fact has not been realised by the assessee. the tribunal has pointed out that there is no provisions in the indian income-tax act under which such a deduction can be permitted .....

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Nov 18 1968 (HC)

W.T. Suren and Co. (P.) Ltd. Vs. Commissioner of Income-tax Bombay-1

Court : Mumbai

Decided on : Nov-18-1968

Reported in : [1971]80ITR602(Bom)

..... four assessment years were not in the nature of capital expenditure and were admissible under the provision of section 10 (2) (xv) of the income-tax act. we answer the new question which we have framed (and which we have renumbered as b above) in the negative. the commissioner shall pay ..... determine for himself whether the remuneration paid to the employee or any portion thereof was properly deducted under section 10 (2) (xv) of the income-tax act.' 25. their lordships made this remark with reference to an assessee's contention, but it is clear that the principle applies equally to the department ..... four assessment years were in the nature of capital expenditure and as such inadmissible under the provisions of section 10 (2) (xv) of the income-tax act b. whether the payments to the two ex-employees did not represent expenditure wholly and exclusively laid out for the purposes of the assessee-company's ..... , as it is worded merely possess the question whether the expenditure was inadmissible under the provisions of section 10 (2) (xv) of the income-tax act because the payments were in the nature of capital expenditure and nothing else. it does not raise the question whether apart from the fact that ..... four assessment years were in the nature of capital expenditure and as such inadmissible under the provisions of section 10 (2) (xv) of the income-tax act ?' 14. the first question, as we have already said, we answered in favour of the department and therefore called for a fresh statement of .....

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Dec 05 1968 (HC)

S.S. Shirgaonkar Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Dec-05-1968

Reported in : [1970]78ITR576(Bom)

..... officer accordingly brought the said amount to tax in the assessment year 1951-52. the decision of the income-tax officer was confirmed in appeals by the appellate assistant commissioner and the income-tax appellate tribunal. the income-tax appellate tribunal relied on the authority of the ..... in an order relating to the assessment of one year does not warrant avoidance of the bar of limitation under section 34 of the indian income-tax act, 1922, against the initiation of proceedings for assessment for another year. since the provision of section 34(3) is not capable of being ..... , on the facts and in the circumstances of the case, initiation of proceedings under section 34(1)(b) of the income-tax act, for the year 1951-52, was in accordance with law.' 4. we answer accordingly. the commissioner will pay the costs of the assessee. ..... income-tax officer, who took the view that since the fresh assessment had been initiated to give effect to a finding of the appellate assistant commissioner in his order for the assessment year 1952-53, the bar of limitation was removed in view of the provisions of section 34(3) of the income-tax act. the income-tax ..... the original assessments of the assessee for the assessment years 1951-52 and 1952-53 also had been completed. in view of this order the income-tax officer issued a notice under section 34(1)(b) to the assessee for the assessment year 1952-53, which was served on the assessee on .....

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Feb 23 1968 (HC)

S.M. Dahanukar Vs. Commissioner of Income-tax, Bombay City I

Court : Mumbai

Decided on : Feb-23-1968

Reported in : [1968]69ITR504(Bom)

..... to disclose all material facts necessary for his assessment. we may also add that the original assessment was under section 9 of the income-tax act assessing the assessee to income from property, whereas the assessment subsequently made is an assessment under section 12 under the head 'other sources' and of necessity, therefore ..... sources'. 4. in the meantime other events were taking place on the basis of which the proceedings under section 34(1)(a) of the income-tax act with which we are concerned were commenced against the assessee. the assessee continued to prosecute the proceedings for assessment of compensation payable to him by ..... kotval, c.j.1. the question referred for out decision under section 66(2) of the indian income-tax act is : 'whether, on the facts and circumstances, the income-tax appellate tribunal was right in holding that the assessee's case falls under section 34(1)(a) ?' 2. the ..... on behalf of the department mr. joshi has also brought to our notice a decision in kantamani venkata narayana and sons v. first additional income-tax officer, rajahmundry where again the supreme court accepted the distinction drawn in the calcutta discount co.'s case. in that case also the question of ..... in section 34(1)(a) has been the subject of pronouncement by the supreme court in several cases. in calcutta discount co. ltd. v. income-tax officer, companies circle i, calcutta, the majority decision of the supreme court pointed out that these words postulated a duty on every assessee to .....

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Dec 17 1968 (HC)

Commissioner of Income-tax, Bombay Vs. K.B.H.M.D.H. Bhiwandiwalla and ...

Court : Mumbai

Decided on : Dec-17-1968

Reported in : [1971]79ITR467(Bom)

..... v.s. desai, j.1. the question raised in this reference under section 66(2) of the indian income-tax act, 1922, arises out of the assessment order for the assessment year 1958-59 corresponding to the previous year ended on 31st march, 1958, and is as follows : 'whether, on the ..... its business. 21. the other case in birla cotton spinning & weaving mills ltd. v. commissioner of income-tax related to the expenses incurred by the assessee in making representations before the income-tax investigation commission and also for challenging the validity of the taxation of income (investigation commission) act, 1947. it was held that as the expenditure was incurred by the assessee-company in opposing an ..... company also acted as importers and distributors on behalf of foreign principals and bought and sold on its own account. under ..... the present case was for the stoppage of the source of income or for the stoppage of the profit-making apparatus. 14. another case relied upon by mr. dwarkadas is gillanders arbutnot & co. ltd. v. commissioner of income-tax. in that case the appellant-company carried on business in diverse lines : besides acting as managing agents, shipping agents, purchasing agents and secretaries, the .....

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Dec 04 1968 (HC)

Whittle Anderson Ltd. Vs. Commissioner of Income-tax, Bombay City I

Court : Mumbai

Decided on : Dec-04-1968

Reported in : [1971]79ITR613(Bom)

..... claimed relief under the provisions of the third and fourth sub-sections to section 25 because they alleged that they had been assessee to income-tax under the provisions of the indian income-tax act of 1918. it appears that this claim of the assessee failed because it was held that provision of the law was not attracted ..... of the case : 'whether, on the facts and in the circumstances of the case, the second proviso to section 10(2) (vii) of the indian income-tax act, 1922, was applicable to the receipts on the sale of the assessee-company's buildings, machinery and plant ?' 10. on behalf of the department objection was ..... to be referred, whether on the facts and in the circumstances of the case, the second proviso to the section 10(2)(vii) of the indian income-tax act, 1922, was applicable to the receipts on the sale of the assessee-company's building, machinery and plant. the question is couched in wide terms ..... of the case : 'whether, on the facts and in the circumstances of the case, the second proviso to section 10(2) (vii) of the indian income-tax act, 1922, was applicable to the receipts on the sale of the assessee-company's buildings, machinery and plant ?' 21. then we turn to the second question ..... in a case which was very similar to the present case, this court, with reference to the provisions of section 10(2) (vi) of the indian income-tax act, said that the word 'used' in that section should be understood in a wide sense so as to embrace passive as well as active user. they .....

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Dec 02 1968 (HC)

T.J. Lalvani Vs. Commissioner of Income-tax, Bombay

Court : Mumbai

Decided on : Dec-02-1968

Reported in : [1970]78ITR176(Bom)

..... loss in question had not been incurred by the assessee in the course of his business so as to be deductible under the provisions of the indian income-tax act. 6. mr. joshi, the learned counsel appearing for the department, has contended that the mere circumstance that the loan had been advanced for lookmanji's ..... had not been incurred by the assessee in the course of its business, and, consequently, was not deductible under any of the provisions of the indian income-tax act. in coming to the said conclusion the tribunal held that the trading activity of the assessee in connection with his dealings with lookmanji was mainly concerned ..... (rupees one lakh and ninety thousand) under section 10(1) and or section 10(2)(xi) and/or section 10(2)(xv) of the indian income-tax act as a bad debt or as a trading loss in the assessee's business or on general principles of accounting in ascertaining profits and gains of a ..... s. desai, j.1. the following three questions have been referred to us on this reference under section 66(2) of the indian income-tax act : '(1) whether there is any evidence to justify the finding of the tribunal that the advances in question as mentioned in the petition ..... business concern under section 10(1) of the indian income-tax act (3) whether, on the facts and in the circumstances of the case, the assessee is entitled to a deduction from his total income of the proportionate legal expenses disallowed in respect of suit no. 14 of 1954 ?' 2 .....

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Nov 14 1968 (HC)

Laxmidas and Co. Vs. Commissioner of Income-tax, Bombay

Court : Mumbai

Decided on : Nov-14-1968

Reported in : [1969]72ITR88(Bom)

..... receipt, according to the appellate assistant commissioner was chargeable in accordance with the provisions of section 4(1) of the income-tax act. the appellate assistant commissioner accordingly dismissed the assessee's appeal. the assessee took a second appeal to the income-tax appellate assistant commissioner, were repeated before the tribunal. in addition, it was urged before the tribunal that the action under ..... that if it was, it was exempt from taxation under the provisions of the income-tax act. in the absence of such proof, the income-tax officer is entitled to treat it as taxable income.' 33. in a. govindarajulu mudaliar v. commissioner of income-tax it was held as follows : 'where an assessee fails to prove satisfactorily the source and nature of certain amounts of ..... by dissolution or otherwise, the firm can be treated as continuing so far as the assessment of its pre-dissolution income is concerned, and the assessment or reassessment of such a firm, after dissolution, under section 44 of the indian income-tax act, could be made in the same manner under chapter iv as if it had not discontinued its business. it ..... brought into the taxable territories during the year of account and, therefore, taxable under section 4(1) (b) (iii) of the act. the income-tax officer, therefore, brought the entire amount of rs. 1,75,000 to tax. the assessee appealed to the appellate assistant commissioner. several contentions were raised by it before him. it was contended that the notice of .....

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Feb 15 1968 (HC)

Trustees of Gordhandas Govindram Family Charity Trust, Bombay Vs. Comm ...

Court : Mumbai

Decided on : Feb-15-1968

Reported in : [1968]70ITR600(Bom)

..... of deciding whether the property held thereunder by the trustees was wholly for religious or charitable purposes so as to make the income exempt from income-tax under section 4(3) (i) of the indian income-tax act. 'charitable purpose' within the meaning of section 4(3) (i) is defined as including relief of the poor, education ..... the ambit of the section in the absence of clear words. on the other hand, in the present section 41 of the income-tax act as well as section 21 of the wealth-tax act, a 'trustee' has been specifically mentioned. as their lordships of the supreme court pointed out, the concept of vesting is ..... was only created by an inappropriate language used in so far as the trustee was concerned. in section 11(1) of the u. p. agricultural income-tax act, however, there was no express mention of the trustee in the section itself and the question as to whether the said provision could apply to ..... of the contention, which has been raised before us, because it dealt with a similar contention, raised in connection with an analogous section of the income-tax act. in both these sections, there was no doubt whatsoever that the 'trustee' was intended to be included within the ambit of the section and the ..... , a trust property which could not be regarded as held wholly for charitable purposes within the meaning of section 4(3) (i) of the indian income-tax act will also fail to qualify as a trust for a public purpose of a charitable nature in india. moreover, on the view we have taken of .....

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Mar 01 1968 (HC)

Commissioner of Income-tax, Bombay Vs. Cilag Ltd.

Court : Mumbai

Decided on : Mar-01-1968

Reported in : [1968]70ITR760(Bom)

..... and sale of chemical, medical, pharmaceutical, biological, bacteriological and related products and specialities. it has a world trade and also trade in india and in respect of its income subject to the indian income-tax act, it has been assessed in the status of a non-resident. there is an indian company named 'cilag hind limited', which is a 60% subsidiary of the assessee ..... v.s. desai, j.1. this is a reference under section 66(1) of the indian income-tax act made by the income-tax appellate tribunal at the instance of the commissioner of income-tax referring to this court a question of law arising out of its order relating to the assessment of the assessee for the assessment year 1959-60, for which the relevant ..... these terms, cilag limited was exploiting its commercial assets in carrying on its business or was engaging in an activity, which was other than the activity of its business. the income-tax officer has taken the view that the activity of the assessee was the supply of a technical know-how, which cannot be regarded as an activity of carrying on business ..... the present assessment year. its claim to set off the sum of rs. 63,478 against the said losses was based on the ground that the said sum was its income from business. the claim was disallowed by the income-tax officer and the appellate assistant commissioner because both of them took the view that the sum of rs. 63,478 was not .....

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