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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Page 5 of about 10,038 results (0.118 seconds)

Feb 22 1973 (HC)

Jagan Nath Pyare Lal Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Reported in : [1973]92ITR207(P& H)

..... constituted under an instrument of partnership specifying the individual shares of the partners may, under the provisions of section 26a of the indian income-tax act, 1922 (hereinafter in these rules referred to as 'the act'), register with the income-tax officer, the particulars contained in the said instrument on application made in this behalf.such application shall be signed by all the partners ..... effect on april 1, 1959, and, consequently, an application dated september 2, 1959, for registration of the said firm under section 26a of the indian income-tax act, 1922, was filed on september 30, 1959, before the income-tax officer, a-ward, ludhiana, copy of which is annexure 'c' with the statement of the case. shri rabinder kumar, a partner of the firm ..... form, namely:-- ' this instrument of partnership/certified copy of an instrument of partnership, has this day been registered with me, the income-tax officer for. .... .in the state of. .... .under section 26a of the indian income-tax act, 1922, and this certificate of registration shall have effect for the assessment for the year ending on the 31st day of march 19...'( ..... deed should be signed by all the partners. there can be validly in existence an oral partnership, but, for the purposes of the income-tax act, it is specifically provided under section 26a of the act that there should be a partnership constituted under an instrument of partnership specifying the individual shares of the partners, and the precise enquiry which .....

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Mar 14 1989 (HC)

Commissioner of Income-tax Vs. Jindal Brothers Rice Mills

Court : Punjab and Haryana

Reported in : (1989)79CTR(P& H)235; [1989]179ITR470(P& H)

..... and plant, the amount received by way of subsidy has to be deducted from the actual cost for the purposes of allowing depreciation under section 32 of the income-tax act, 1961 (for short 'the act').2. in order to give an incentive for setting up new industries, the central government and state governments have been notifying policies from time to time. here, we ..... deducted from the cost of machinery and plant and building under section 43(1) of the income-tax act, 1961, for determining their actual cost for the purposes of depreciation allowance under section 32 of the act ?'5. for decision of the aforesaid question, section 43(1) of the act falls for consideration. it is in these terms :'43. (1) 'actual cost' means the actual ..... filed for the assessment year 1977-78, it claimed depreciation on the actual cost of machinery, plant and building under section 32 of the act, but the income-tax officer took notice of the subsidy of 15 per cent received by the assessee under these heads and reduced the actual cost of the plant, machinery and building by the ..... it was given to him. even if the assessee wrongly maintains the account books and utilises the entire subsidy against the value of the land to reduce its cost, the income-tax officer would not overlook the matter and would appropriate the subsidy in reducing the cost of the machinery, plant and building for which the subsidy was specifically granted. there is .....

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Dec 15 1965 (HC)

Ram Bhagat Vs. the Commissioner, Income-tax and anr.

Court : Punjab and Haryana

Reported in : AIR1967P& H493; [1966]61ITR146(P& H)

..... was not, to the decision of the case on the facts but to the principle enunciated, which was that clause (5) of section 35 of the indian income-tax act, which was enacted by the income-tax (amendment) act, 1953, was not declaratory of pre-existing law, and as it clearly affected vested rights which had accrued to the assessee, must be deemed to have come ..... .3. however, the assessment of messrs. ambala flour mills was reopened under section 34 of the indian income-tax act, 1922 (act no. xi of 1922), hereinafter to be referred to as the act, by an order, dated the 31st march 1958, and for the aforesaid assessment year the income of the share of the kaithal firm was determined at rs. 53,843. thereafter, on the ..... learned judges were dealing not with sub-section (5) of section 35 but with sub-section (10) of section 35 of the act, which deals with recomputation of the tax payable by a company on account of rebate of income-tax being availed of by it wholly or in part for declaring dividend in any year, which amount would be deemed to have been ..... such error apparent on the face of the record which would attract the provisions of sub-section (1) of section 35 of the act and inasmuch as the notice for rectification, dated the 6th august 1958, issued by the income-tax officer, was beyond the period of four years from the date of the finalisation of the assessment, the order could not be .....

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Sep 29 1954 (HC)

Telu Ram JaIn and Co. Vs. Commr. of Income-tax, Punjab

Court : Punjab and Haryana

Reported in : AIR1955P& H58; [1955]27ITR94(P& H)

..... held in that case was that where an assessee failed to furnish a return of his income as required under section 22 (1), income-tax act, and no notice was given under section 22 (2) of the act, the income-tax officer was competent in the course of proceedings under section 34 read with section 22 (2) to assess such ..... section 15 of this act provision is made in regard to profits escaping assessment. that section as it stood before the amendment by ..... is brought before it under section 66 (2) or is referred to it by the tribunal under section 66 (1), income-tax act, and thirdly there is no substance in this submission.the counsel for the assessee relied on --'govindarajulu iyer v. commr. of income-tax madras', air 1949 mad 399 (c), but in my opinion that does not help the petitioner. all that was ..... or documents or other evidence as he may require:provided that the excess profits tax officer shall not require the production of any accounts relating to a period prior to the 'previous year' as determined under section 2, of the indian income-tax act, 1922, for the purpose of the income-tax assessment for the year ending on the 31st day of march, 1937.'3. in .....

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Oct 10 1955 (HC)

Rajeshwar Pershad Vs. Commissioner of Income Tax, E.P., Pepsu Etc.

Court : Punjab and Haryana

Reported in : AIR1956P& H74; [1955]28ITR842(P& H)

..... again before the commissioner.'this matter, however, was not finally decided as the mandamus was refused on another point. in his well known commentary on the indian income-tax act, shri a. c. sampath iyengar has stated the law to be as follows :'para. 961. the order of the commissioner under this section is final ..... in the circumstances, it must be held that the commissioner proceeded with the case and passed the order on 14-10-1953 acting or purporting to act under section 33a of the income-tax act and i hold accordingly.7. it was then contended by mr. sikri that it was open to the commissioner or his successor ..... his appeals. the notice in question was also sought to be justified on the ground of correction of mistake apparent from the record under section 35, income-tax act.5. in view of these contentions the main point that requires decision is whether the 1953 order is liable to be reviewed, modified or corrected by ..... further urged that there is no provision in the income-tax act which' empowers the successor to review or modify the order passed under section 33a and therefore the notice dated 25-7-1955 is without jurisdiction ..... it has been argued on behalf of the petitioner that the order passed by the commissioner on 14-10-1953 was an order under section 33a, income-tax act, and is final and the effect of his successor's notice dated 25-7-1955 is to review or modify the previous order. it has been .....

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Jan 24 1956 (HC)

Bhagwan Das Sud and Sons Vs. Income-tax Officer, Special Circle Ambala

Court : Punjab and Haryana

Reported in : AIR1956P& H148; [1956]29ITR330(P& H)

..... been completed (per beaumont c. j. pp. 237-238). to get over the effect of this judgment sub-section (5) was added to section 64, income-tax act by section 6 of the income-tax law (amendment) act, 1940 (act 12 of 1940). it enumerates the cases to which the ordinary rules regarding place of assessment laid down in sub-sections (1) and (2) -- viz., ..... which assessment is to be made at the place of business of the asses-see and by the income-tax officer of that area. 6. under section 34, income-tax act if an income-tax officer has reason to believe that the income, profits or gains chargeable to income-tax of any person have escaped assessment or have been assessed at too low a rate, he can ..... the substantial and valuable privileges which they would otherwise nave, and therefore, there was discrimination in procedure which was substantially different under the taxation on income (investigation commission) act from that under 8. 34, income-tax act. the section was declared to be 'ultra vires because the findings of fact given by the commission as to factum and extent of evasion were ..... was highly discriminatory as an evasion whether substantial or insubstantial, came within its ambit as well as within the ambit of section 34. income-tax act. it was held that both section 34, income-tax act and section 5(4), taxation on income (investigation commission) act, deal with all persons who have similar characteristics and similar properties, that is, persons who have not truly disclosed their .....

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Dec 09 1976 (HC)

Arjan Dass Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Reported in : [1978]112ITR480(P& H)

..... 1939 the only manner in which the best judgment assessment under section 23(4) could be questioned was by filing an application under section 21, after the amendments of the income-tax act in 1939, a best judgment assessment could also be questioned by preferring an appeal against it under section 30. they further observed that the rejection of the appeal against the ..... been allowed. this question has, therefore, to be answered in the negative. 7. question no. 1 concerns the jurisdiction of the appellate assistant commissioner under section 250(4) of the income-tax act. section 250(4) enables the appellate assistant commissioner, before disposing of any appeal, ' to make such further enquiry as he thinks fit '. the contention of the assessee is that the ..... the facts and in the circumstances of the case, the tribunal was right in holding that the appellate assistant commissioner had overstepped his jurisdiction under section 250(4) of the income-tax act and that, therefore, the appellate assistant commissioner's order was bad in law 2. whether, on the facts and in the circumstances of the case, the tribunal was right, ..... may assume that it yielded no fruit to the revenue. on march 29, 1965, after obtaining the prior approval of the central board of direct taxes, the income-tax officer, rohtak, served a notice under section 148 of the income-tax act, 1961, on arjan dass, representing late dr. munshi ram, in respect of the assessment relating to the assessment year 1948-49. the return of .....

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Oct 10 1996 (HC)

Commissioner of Income-tax Vs. Haryana Roller Flour Mills (P.) Ltd.

Court : Punjab and Haryana

Reported in : [1997]224ITR242(P& H)

..... to quantify the financial aid, is not a payment, directly or indirectly, to meet any portion of the 'actual cost'. the expression 'actual cost' in section 43(1) of the income-tax act, 1961, needs to be interpreted liberally. such a subsidy does not partake of the incidents which attract the conditions for its deducibility from 'actual cost'. the amount of subsidy is ..... g.s. singiivi, j.1. in all these petitions filed under section 256(2) of the income-tax act, 1961, by the revenue, a prayer has been made for directing the income-tax appellate tribunal to refer the question of law as to whether the tribunal has been right in law in holding that the capital subsidy received by the assessee should not ..... total assets for the purpose of allowing depreciation under the act. this contention did not find favour with the assessing authority which held that the amount of subsidy should be deducted from the value of assets while calculating the depreciation. the appeal filed by the assessee was accepted by the commissioner of income-tax (appeals), chandigarh, who directed the inspecting assistant commissioner (assessment ..... ), the revenue filed an appeal before the income-tax appellate tribunal. that appeal was dismissed by the tribunal. a reference application filed by the department under section 256(1) was also declined by the tribunal. this is how the department has filed this petition under section 256(2) of the act and has sought reference of the question of law framed by it .....

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Nov 04 1969 (HC)

Dalmia Dadri Cement Ltd. Vs. Commissioner of Income-tax (No. 2)

Court : Punjab and Haryana

Reported in : [1970]77ITR849(P& H)

..... of the company ; and (2) the expense was not of a capital nature. 7. the first requirement of clause (xv) of sub-section (2) of section 10 of the indian income-tax act, 1922, under which the allowance was claimed, has not been satisfied and, therefore, the amount claimed had been rightly disallowed. in view of this conclusion, the answer to the second ..... punjab states union accepted the federal financial integration scheme and became a taxable territory of the union of india with the result that the indian finance act, 1950, and subsequent finance acts became applicable to it for the purposes of levy of income-tax for each assessement year. before the revenue authorities, it was claimed by the assessee that it was liable to pay ..... in force according to the finance act, 1955, and not in accordance with clause (23) of the agreement dated april 1, 1938, referred to above. 6. we are also of the opinion that the sum of rs. 3, 423 on account of legal expenses was rightly disallowed by the income-tax officer, the appellate assistant commissioner and the income-tax appellate tribunal, the deduction of ..... tax only at the concessional rates provided in clause 23 of the above-said agreement and not at the rates laid down in the relevant finance act. this contention was rejected and when the .....

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Oct 31 1963 (HC)

Jodha Mal Ghungar Mal and ors. Vs. Commissioner of Income-tax, Simla ( ...

Court : Punjab and Haryana

Reported in : AIR1965P& H257; [1964]53ITR655(P& H)

..... to be a partnership between the firm ab as such and c and d, it was not legally a firm under the indian partnership act or under the indian income-tax act. the partnership could not be construed as a partnership between a and b as individuals, and c and d, as it was specifically ..... kanniappa naicker's case : [1937]5itr49(mad) reads as follows:'a partnership cannot be registered as a firm under section 26-a of the indian income-tax act, where the instrument of partnership does not specify on the face of it the individual shares of the partners. therefore, where a partnership consists of a ..... four individual partners of this smaller firm. he further stated that in the application filed by the new firm under section 26-a of the indian income-tax act as well as in the original partnership agreement, under which the smaller firm was formed, the shares of the partners in the smaller firm have been ..... as the smaller firm). later, on 28th of january, 1958, an application was made by the new firm to the income-tax officer, special circle, ambala, under s. 26-a of the indian income-tax act for the registration of the firm. in paragraph 2 it was stated as under:'the original instrument of partnership under which ..... the following words:--'whether, in the facts and circumstances of this case, the assessee firm was entitled to registration under section 26a of the income-tax act.'(4) it was not disputed before us that there can be no legal partnership between an individual on the one hand and a firm as .....

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