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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1973 Page 1 of about 58 results (0.039 seconds)

Mar 12 1973 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. Trustees of Abdulcadar ...

Court : Mumbai

Decided on : Mar-12-1973

Reported in : [1975]100ITR85(Bom)

..... assessment years the claim was made on behalf of the assessee (the trustees) that the income of the trust properties was entitled to the exemption under section 4 (3) (i) of the income-tax act, 1922. the income-tax officer, while accepting that there was a validly constituted trust and that the objects of the ..... trust were religious and/or charitable, rejected the claim of the assessee for exemption on the ground that the provisions of clause 14 of the trust deed conferred upon mullaji saheb complete power over the income ..... position which mullaji saheb occupied in the community which made it incumbent upon the mullaji saheb to use the income of the trust property for charitable purposes mentioned in the document. the income-tax officer took the view that the fact that the mullaji saheb had not exercised the power conferred upon ..... trust and enjoyment thereof for his own use and benefit and in any other manner he liked and, according to the income-tax officer, this clause had overriding effect on all the assessee that in fact mullaji saheb had not utilised that power at ..... the instance of the revenue is as under : 'whether, on the facts and circumstances of this case, the income of the assessee-trust is exempt under section 4 (3) (i) of the act ?' 2. the assessee happens to be the trustees of abdulcadar ebrahim trust, bombay, and the question referred to .....

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Nov 29 1973 (HC)

Commissioner of Income-tax, Bombay City Iii Vs. Himalayan Tiles and Ma ...

Court : Mumbai

Decided on : Nov-29-1973

Reported in : [1975]100ITR177(Bom)

..... nature of trade, and, that if surplus was realised from such venture, such surplus was liable to be included in the income of the assessee-company under section 10 of the indian income-tax act, 1922. vimadalal, j.31. i agree with the judgment just delivered by my brother, desai j., and would like to ..... the head 'profits and gains of business' and accordingly to definition of 'business' found contained in section 2(4) of the indian income-tax act, 1922, would become relevant. the said definition read as follows : '2. (4) 'business' includes any trade, commerce, or manufacture any adventure or ..... s.k. desai, j.1. this is a reference under section 66(1) of the indian income-tax act, 1922, made by the income-tax appellate tribunal, bombay bench 'a', bombay. 2. the reference arise out of the assessment of a private limited company for the year ..... , the company had to bear and pay. accordingly, the net excess realised, viz., rs. 61,340 was held to be taxable by the income-tax officer. the income-tax officer also rejected the contention that unless and until both the claims taken over were finally settled and the legal expenses in respect thereof fully paid, ..... 'adventure in the nature of trade' appearing in the definition of 'business' under section 2(4) of the act came to be considered by the supreme court in g. venkataswami naidu & co. v. commissioner of income-tax, where after exhaustive analysis of the statutory provisions and the english and indian authorities, gajendragadkar j. (as he then .....

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Mar 19 1973 (HC)

Dilip Kumar Roy Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Mar-19-1973

Reported in : [1974]94ITR1(Bom)

..... contemporaneous documents, and disregarding the letter dated march 10, 1953, held that the amount was a taxable receipt in the hands of the assessee under section 7(1) of the income-tax act read with explanation 2 (before amendment in 1955).' 11. the decision of the tribunal was affirmed by the high court on a reference. on an appeal to the supreme court ..... kantawala, c.j.1. this is a reference to this court under section 66(1) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), at the instance of the assessee. the question referred for our determination relates to assessment years 1955-56, 1956-57, 1957-58, 1958-59 and 1959-60 for which the ..... of the property known as 'india milay harikrishna mandir' at poona.3. as assessments for some of the years were completed, there were reopened under section 34 of the act. 4. the income-tax officer took the view that even assuming that the amounts received were voluntary payments from the various persons, from the standpoint of the assessee they were taxable receipts being ..... a principle is quite apparent from the decision of the supreme court in mahesh anantrai pattani v. commissioner of income-tax. the head-note correctly sets out the facts and lays down the ratio of the decision as under : 'the assessee acted as the chief dewan of the native state of bhavnagar since december, 1937, and continued to hold that office until january .....

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Nov 22 1973 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. Raghavji Anandji and Co ...

Court : Mumbai

Decided on : Nov-22-1973

Reported in : [1975]100ITR246(Bom)

..... s.k. desai, j.1. this is a reference made by the income-tax appellate tribunal, bombay bench 'b', under section 66(1) of the indian income-tax act, 1922.2. the assessee is messrs. raghavji anandji & co. we are concerned with the assessment year 1959-60, the corresponding previous year being s. y. 2014.3. messrs. raghavji anandji & ..... persons. this order of the commissioner of income-tax under section 33b(1) of the act is annexed to the paper book as annexure 'd' to the statement of the case. there was thereafter an appeal to the income-tax appellate tribunal and the tribunal by its order dated 18th may, 1962, set aside the order ..... 26a for the assessment year 1959-60 and the cancellation of the registration by the commissioner of income-tax was right in law ?' 4. it may be stated here that, according to me, the only reason why the commissioner acted under section 33b(1) of the act and cancelled registration of the firm to be found in his order (annexure 'd') is the fact ..... year 1959-60 was made, allowed registration under section 26a of the act on the basis of the partnership deed dated 21st march, 1958. the commissioner of income-tax, bombay city ii, however, after issuing notice under section 33b of the act, cancelled the registration of the firm and directed the income-tax officer to make assessments taking the status as that of an association of .....

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Mar 20 1973 (HC)

Commissioner of Income-tax Bombay City Ii Vs. Ramprasad Mehra and ors.

Court : Mumbai

Decided on : Mar-20-1973

Reported in : [1975]100ITR468(Bom)

..... are entitled to the refund of tax deducted at source on the divided income in respect of 500 shares of ramgopal ramprasad private ltd.' 3. when an application for refund was made ..... kantawala, c.j.1. this is a reference under section 66 (1) of the indian income tax act 1922 (hereinafter referred to as 'the act') at the instance of the revenue.2. one balmukchand has five sons. two of them of them are ramgopal and ramprasad. the five sons of balmukchand and a son of ..... under :1. whether, in the facts and circumstances of this case the income arising from 500 shares of ramgopal ramprasad private ltd. is assessable in the hands of ramgopal mehra and ramprasad mehra under the provisions of section 16 (1) (c) or section 16 (3) (b) of the income tax act 2. whether the two hindu undivided families of ramgopal mehra and ramprasad mehra ..... or disposition whether revocable or not, and whether effected before or after the commencement of the indian income tax (amendment) act, 1939 (vii of 1939), from assets remaining the property of the settler or disponer shall be deemed to be income of the settlor or disponer, and all income arising to any person by virtue of revocable transfer of assets shall be deemed to be .....

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Mar 09 1973 (HC)

Gulabsing Fattesing Vasave Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Mar-09-1973

Reported in : [1975]100ITR509(Bom)

..... were used by the tenants for agricultural purposes, was agricultural income within the meaning of section 2 (1) (a) and exempt from tax under section 4 (3) (viii) of the indian income-tax act, 1922 ?' 2. the question relates to the assessment year 1957-58 in respect of the previous year ending on july ..... the facts and circumstances of the case, the income derived by the assessee as a superior holder from the lands, which were used by the tenants for agricultural purposes, was not agricultural income within the meaning of section 2 (1) (a) and was not exempt from tax under section 4 (3) (viii) of the indian income-tax act, 1922.21. the assessee shall pay the costs ..... .1. this is a reference under section 66 (1) of the indian income-tax act, 1922, referred to us by the tribunal at the instance of the assessee. the question of law referred for our determination is as follows : 'whether, on the facts and in the circumstances of the case, the income derived by the assessee as a superior landholder from the lands, which ..... rent, etc. in compliance with the notice under section 22 (2) of the act, the assessee had filed a return of income showing the total income of rs. 1,29,913 as income from other sources. after making certain adjustments the assessment was completed by the income tax officer on a total income of rs. 1,61,701.3. in the appeal against the order of the .....

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Aug 03 1973 (HC)

Agri Orient Industries (P.) Ltd. Vs. Commissioner of Income-tax, Bomba ...

Court : Mumbai

Decided on : Aug-03-1973

Reported in : [1975]101ITR605(Bom)

..... same in contravention of the provisions of law, the provisions of section 23a could not be attracted. in alavai industries private ltd. v. commissioner of income-tax the court took the view that section 23a of the income-tax act, 1922, being penal in nature, the jurisdiction which the revenue could exercise under that section is exercisable only if the ingredients and the circumstances set ..... another decision of the calcutta high court in the case of ezra proprietary estates ltd v. commissioner of income-tax. in that case the assessee was a private limited company whose main source of income was income from property assessable under section 9 of the indian income-tax act, 1922. during the two accounting years, 1938 and 1939, the company made a profit of rs. 30,000 ..... tulzapurkar, j.1. the question of law that has been referred to us by the tribunal under section 66(1) of the indian income-tax act, 1922, at the instance of the assessee, for our determination runs as follows :'whether, on the facts and in the circumstances of the case, the provisions of section 23a(1) ..... to prove that the conditions laid down thereunder were satisfied before the order was made.12. in j. p. srivastava and sons (bhopal) private ltd. v. commissioner of income-tax the assessee-company acted as the managing agents of the new bhopal textile ltd. both the companies adopted the financial year as their accounting period. in the agreement between them the managing against .....

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Mar 20 1973 (HC)

Deviprasad Kejriwal Vs. Commissioner of Income-tax (Central), Bombay

Court : Mumbai

Decided on : Mar-20-1973

Reported in : [1976]102ITR180(Bom)

..... .1. the question that has been referred to us by the tribunal under section 66 (1) of the indian income-tax act, 1922, for our opinion runs as under :'whether, on the facts and in the circumstances of the case, the order of the income-tax officer, dated 31st march, 1962, levying a penalty of rs. 2,000 under section 18a (9) (a) read with ..... second occasion the assessment was made on a total income of rs. 2,38,440 on march 1, 1958. the assessee went in appeal ..... was filed on december 18, 1948, the assessment was made on a total income of rs. 54,369 on march 23, 1949. this assessment, it appears, was required to be reopened twice under section 34 of the indian income-tax act, 1922. on the first occasion during reassessment proceeding the total income was determined at rs. 94,802 on november 24, 1952, while on the ..... 18a (9). he, therefore, urged that the expression 'regular assessment' occurring in section 18a (9) must be confined to the initial or original assessment made by the income-tax officer under section 23 of the act. now the canon of construction referred to by mr. pandit is based on the presumption that ordinarily the same meaning is implied by the use of the .....

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Dec 21 1973 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. Gordhandas K. Vora

Court : Mumbai

Decided on : Dec-21-1973

Reported in : [1974]96ITR50(Bom)

..... desai, j. 1. this is a reference by the income-tax appellate tribunal, bombay bench 'c', under section 66(1) of the indian income-tax act, 1922. the reference arises out of the assessment proceedings under the indian income-tax act for the assessment years 1957-58 and 1958-59, the relevant account years being samvat years 2012 and 2013. necessary facts material for the purpose of this reference ..... separate accounts were not kept the assessee could not be regarded as having blended the properties. it is not possible to hold that the income-tax appellate tribunal took any erroneous view on either aspect of the matter being considered before it. vimadalal, j. 23. i agree and have nothing to add. by the court 24 ..... is to found in c. v. vythianatha iyer v. c. v. varadaraja iyer, p. n. venkatasubramania iyer v. p. n. easwara iyer and goswami maharaj ranchhodraiji govindlalji v. commissioner of income-tax. 22. it appears to me that the view taken by the madras and the gujarat high courts is the correct view and that merely by reason of the fact that ..... assets received by gordhandas from his grandfather either through the instrumentality of the trust settlement or under clause 12 of sir manmohandas's will. the department thereafter appealed to the income-tax appellate tribunal against the said conclusion and direction of the appellate assistant commissioner. the contention of the department was that assuming that the two sets of properties were separate properties .....

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Mar 19 1973 (HC)

D.P. Wadia and Sons Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Mar-19-1973

Reported in : [1975]100ITR79(Bom)

..... of the assessee the question that has been referred to this court by the tribunal under section 66 (2) of the indian income-tax act, 1922, runs as follows : 'whether the applicant's income from contracts with the government has been properly estimated at rs. 24,604 (rupees twenty-four thousand six hundred and four) ..... identifiably made during the previous year. it is not possible to accept this submission of mr. munim for the simple reason that all that the income-tax officer and the appellate assistant commissioner have done while disposing of this question is that they have merely set out as and by way of recitation ..... account running into other years as well. what was sought to be urged by mr. munim before us was that if the orders of the income-tax officer and the appellate assistant commissioner were carefully scrutinised it would appear clear that the statement containing advances made by the assessee to the sub-contractor ..... % share as per arrangement. he, therefore, upheld the rate of 5% at which the net profit was to be calculated and adopted by the income-tax officer and rejected the claim for loss. 4. before the tribunal the decision of the appellate assistant commissioner in so far as it related to the ..... loss of rs. 94,206 as a revenue loss. when the assessee went in appeal to the appellate assistant commissioner, the latter officer modified the income-tax officer's estimate of the profit by accepting the total amount of the bills at rs. 4,92,061 as shown by the assessee and, .....

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