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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Year: 1988 Page 1 of about 97 results (0.061 seconds)

Nov 03 1988 (HC)

Krishna Cotton and General Mills (P.) Ltd. Vs. Commissioner of Income- ...

Court : Punjab and Haryana

Decided on : Nov-03-1988

Reported in : [1989]177ITR350(P& H)

..... of godowns by warehousing corporations or such like statutory authorities and they were distinguished. 4. it is no longer in controversy that the benefit under section 10(29) of the income-tax act can be taken only by the statutory authorities constituted under any law for the time being in force for marketing of commodities like warehousing corporations and for this purpose, reference ..... of the case, the tribunal is right in law in holding that the assessee is not entitled to claim deduction of rs. 6,427 under section 10(29) of the income-tax act, 1961 ?' 2. it arises out of the following facts : the krishna cotton and general mills p. ltd., jagraon, the assessee, is a private limited company incorporated under the companies ..... the revenue. we have gone through the aforesaid decisions and fully agree that a company incorporated under the companies act is not an authority constitued under any law and cannot take the benefit of concession granted under section 10(29) of the income-tax act, 1961. following the aforesaid view of the calcutta high court, the question is answered in the affirmative, i.e ..... act, 1956. the assessee received rental income in respect of a godown let out to the food corporation of india and claimed exemption under section 10(29) of the income-tax act, 1961, which is as follows : '10(29) in the case of an authority constituted under any .....

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Dec 01 1988 (HC)

Commissioner of Income-tax Vs. Varinder Kumar

Court : Punjab and Haryana

Decided on : Dec-01-1988

Reported in : (1989)79CTR(P& H)183; [1989]180ITR180(P& H)

..... assistant commissioner but, on further appeal to the income-tax appellate tribunal, amritsar, he succeeded. at the instance of the revenue, the tribunal has referred the following questions for the opinion of this court:'(1) whether, on the ..... on his one-fourth share of the income received from the partnership firm. the income-tax officer took the view that the assessee, his wife and two minor sons constituted a sub-partnership and included the whole of the income received from the partnership firm in his hands by applying the provisions of section 183(b) of the income-tax act, 1961. he failed before the appellate ..... in thehands of the assessee. in that eventuality, it had to be assessed in thehands of the hindu undivided family. under the circumstances, it has to bedeemed that the income-tax officer accepted the partial partition and oncethat is so, the argument raised before us on behalf of the revenue has tobe rejected.4. for the reasons recorded above, we answer ..... partition deed of the hindu undivided family, overriding title was created in favour of the wife and minorsons, the question of including their share income in the income of theassessee could not arise in view of our decision in income-tax referencesnos. 80 and 81 of 1980 (ito v. narinder kumar , decided on november 28, 1988). learned counsel for the revenueurged that the .....

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Nov 15 1988 (HC)

M.D. Traders and Chit Fund Financiers (P) Ltd. Vs. Commissioner of Inc ...

Court : Punjab and Haryana

Decided on : Nov-15-1988

Reported in : [1989]178ITR388(P& H)

..... in view the findings recorded by the tribunal which have been quoted above, we are of the opinion that the provisions of section 79(a) of the income-tax act, 1961, are clearly attracted. we are of the view that the tribunal placed a correct interpretation on the provisions of the aforesaid section. as a result, ..... case, the tribunal was justified in holding that the provisions of section 79(a) of the income-tax act, 1961, are attracted in the case ? 2. whether the tribunal was correct in interpreting section 79(a) of the income-tax act to mean that the change in the shareholding which was contemplated in the section was one which ..... we have already pointed out above that that loss could be carried forward and set off in both the assessment years 1974-75 and 1976-77. the income-tax officer will bear in mind these observations while disposing of this issue for the assessment years 1974-75 and 1976-77. it is not clear to ..... of set off of the loss of the assessment year 1970-71 will also be relevant for the year 1976-77, if it is found by the income-tax officer that the loss for the assessment year 1970-71 is admissible on further enquiring about the applicability of clause (b) of section 79 andsuch loss ..... of section 79 will be attracted in this case. as far as the assessment year 1974-75 is concerned, there is a further consideration that the income-tax officer has not applied his mind to clause (b) of section 79 before withdrawing the set off of the loss of the assessment year 1970-71. .....

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Nov 16 1988 (HC)

Commissioner of Income-tax Vs. Harbhagwan

Court : Punjab and Haryana

Decided on : Nov-16-1988

Reported in : [1989]180ITR206(P& H)

..... wife in the firm in which he was a partner in his representative capacity as karta of his hindu undivided family, under section 64(1)(ii) of the income-tax act, 1961 (for short 'the act'). it was pointed out on behalf of the revenue that a special leave petition has been granted against the decision in anand sarup's case [1980] 121 itr ..... partner in his representative capacity as karta of his hindu undivided family could not be included in his total income under section 64(1)(ii) of the income-tax act, 1961 ?' 3. precisely this very point came up for consideration before this court earlier in cit v. anand sarup [1980] 121 itr 873, and the question was answered in favour of the assessee and against ..... court. question no. 2 referred at the instance of the revenue and the sole question referred at the instance of the assessee are covered by our decision in income-tax reference no. 149 of 1980 (cit v. ravinder kumar ), rendered today. for the reasons recorded therein, both these questions are answered in favour of the revenue and against the assessee. 2. now, we .....

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Sep 26 1988 (HC)

Commissioner of Income-tax Vs. Kuldip Industrial Corporation

Court : Punjab and Haryana

Decided on : Sep-26-1988

Reported in : [1989]178ITR257(P& H)

..... appellate tribunal was right in law in holding that the commissioner of income-tax (appeals) could, under section 250(4) of the income-tax act, 1961, admit evidence of the death of smt. darshana devi without giving any opportunity to the income-tax officer to rebut the same as required under rule 46a of the income-tax rules, 1962 ? (ii) whether, on the facts and in the circumstances of ..... the case, the appellate tribunal was right in law in holding that the income-tax officer was given reasonable ..... . darshana devi ? (iii) whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in holding that the finding of the commissioner of income-tax (appeals) regarding genuineness of the firm was not questioned before the appellate tribunal ? (iv) whether, on the facts and in the circumstances of the case, the appellate tribunal was right .....

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Nov 22 1988 (HC)

Commissioner of Income-tax Vs. Gopi Ram Mulakh Raj

Court : Punjab and Haryana

Decided on : Nov-22-1988

Reported in : (1989)78CTR(P& H)1; [1989]178ITR680(P& H)

..... .2. in penalty proceedings, the income-tax officer levied penalty and his order was confirmed in appeal by the appellate assistant commissioner. on further appeal to the ..... , i.e., september 30, 1970, was crucial for finding out the law applicable and at that time, according to the unamended provision of section 274(2) of the act, the jurisdiction of the income-tax officer to levy penalty extended only up to rs. 1,000 and, therefore, the order levying penalty exceeding rs. 1,000 was without jurisdiction. in support of the ..... assessment for the year 1970-71, the income-tax officer added the cost of toria pledged by the assessee with the shahukara bank of the value of rs. 15,360 as incomeof the assessee from undisclosed sources and proceedings for levy ofpenalty were initiated under section 271(1)(c) of the income-tax act,1961 (for short 'the act'). the assessee remained unsuccessful inthe quantum appeal ..... to levy the penalty as it exceeded rs. 1,000, according to the law prevailing at that time. section 274(2) of the act was amended with effect from april 1, 1976, and the jurisdiction of the income-tax officer to levy penalty was enhanced from rs. 1,000 to rs. 25,000. the stand of the assessee was that the date of .....

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Nov 22 1988 (HC)

Commissioner of Income-tax Vs. Des Raj Kul Bhushan

Court : Punjab and Haryana

Decided on : Nov-22-1988

Reported in : [1989]178ITR686(P& H)

..... for its opinion :'(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in holding that the commissioner of income-tax wrongly assumed jurisdiction under section 263 of the income-tax act, without showing in his order under section 263 of the act the existence of jurisdictional facts ? (2) whether the tribunal was right in law in holding that ..... against the returned income of rs. 2,77,264, the income of the assessee was determined at rs. 5,24,510. the assessee did not file any objections ..... . the matter here pertains to the assessment year 1973-74.2. the income-tax officer forwarded to the assessee, des raj kul bhu-shan, a registered firm, his order of march 29, 1976, under section 143(3) read with section 185(4) of the income-tax act, 1961 (hereinafter referred to as 'the act'). this order was marked as 'draft order'. as per this order, as ..... as he could have done in terms of section 144b(2) of the act and, consequently, the income-tax officer made an order on april 7, 1976, which reads as under :'the draft assessment order served on march 30, 1976, on you should be treated as final .....

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Nov 22 1988 (HC)

Commissioner of Income-tax Vs. Jagjit Singh Jaspal Singh

Court : Punjab and Haryana

Decided on : Nov-22-1988

Reported in : [1989]176ITR276(P& H)

..... of the head office, the firm name of the branch office was mentioned for the purpose of registration. he gave an opportunity under section 185(2) of the income-tax act, 1961 (hereinafter called 'the act'), to the assessee to rectify the defects and when the assessee failed to remove the defects within a period of one month, the registration to the partnership was ..... change in the constitution of a firm by the mere fact that the name of the firm has been changed and the income-tax officer cannot refuse to renew the registration of a firm under section 184(7) of the income-tax act, 1961, on the ground that the name of the firm has been changed.'9. in the present case, the facts are on ..... to entertain the application as a valid one and to process it for registration as laid down in section 185(1) of the act.3. at the instance of the revenue, the income-tax appellate tribunal, amritsar, has referred the following two questions for the opinion of this court :'(1) whether, on the facts and in the circumstances of the case, the appellate ..... , the application was rightly made in form no. 11 and the decision of the income-tax officer that the application should have been made in form no. 11a is clearly illegal.7. the other objection of the income-tax officer was also not well-founded. section 2(23) of the act defines 'firm', 'partner' and 'partnership' as having the meanings respectively assigned to them in .....

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Dec 02 1988 (HC)

Amrit Lal Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Dec-02-1988

Reported in : (1989)79CTR(P& H)148; [1989]179ITR105(P& H)

..... the hindu undivided family in the assessment year 1976-77 was liable to be included in the individual assessment of the assessee under section 64(2) of the income-tax act, 1961 ?'5. the question posed has clearly to be answered in the affirmative, in favour of the revenue and against the assessee, it being covered by ..... was : whether this entire sum of rs. 25,617 was includible in the assessment of the assessee under section 64(2)(b) of the income-tax act, 1961 (hereinafter referred to as 'the act').3. according to the tribunal, this was a case of conversion of property of rs. 31,226 into other property and was thus hit ..... , his wife and minor son, the transfer was treated as a gift and assessed to gift-tax. this sum of rs. 30,000 was later invested in the firm. the income-tax officer, applying section 64(2)(b) of the act, rejected the contention of the assessee, that the interest in relation to the sum of rs. ..... by the provisions of section 64(2)(b) of the act and the income derived from this converted property must be deemed to arise to the individual and not to the family.4. it was in this background that the ..... 30,000 which worked out to rs. 3,346 alone was attributable to the converted property and the rest of the income should be assessed as .....

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Nov 16 1988 (HC)

Ludhiana Co-operative Marketing Society Ltd. Vs. Commissioner of Incom ...

Court : Punjab and Haryana

Decided on : Nov-16-1988

Reported in : [1989]177ITR42(P& H)

..... . the controversy here is with regard to its claim for exemption for the whole of its income on the ground that it was covered by the provisions of section 10(29) of the income-tax act, 1961 (hereinafter referred to as 'the act').2. the tribunal held that the assessee-society could not be held to be an 'authority' as envisaged by the said section ..... 10(29) of the act and, this is what led to the reference of the following question of law ..... formation of co-operative societies for the purposes mentioned therein.6. another relevant aspect of the matter here is the provisions of section 80p of the act which deals specifically with deductions in respect of income of co-operative societies. the fact that co-operative societies have been specifically and separately dealt with in this manner, is a clear pointer to the ..... carrying on the business of manufacture and sale of edible oils and owning a factory and godowns was an 'authority' under section 10(29) of the act and the rental income derived by it from letting out of its godowns, was consequently exempt. in dealing with this matter, the court accepted the position that the assessee-company could not be said .....

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