Court : Rajasthan
Reported in : (1990)88CTR(Raj)1; 188ITR151(Raj)
..... is paid only to broaden the capita! base for better conduct and efficiency and profitability of business, the amount spent is deductible as revenue expenditure under section 37 of the income-tax act.5. it is, no doubt, true that the distinction between 'revenue' and 'capital' expenditure is a fine one. dealing with all those cases which took, the view that expenses incurred ..... ' mentioned above, the appeal of the revenue for the assessment year 1976-77 was dismissed. an application for reference was thereafter filed by the revenue under section 256 of the income-tax act. being of the opinion that there was a conflict of opinion among the various high courts about the entitlement of the assessee to get deduction of the expenditure incurred in ..... the registrar of companies for raising authorised capital of the assessee-company was covered by sub-section (2)(c)(iv) of section 35d of the income-tax act,12. let the papers of this case be returned to the income-tax appellate tribunal with the answers mentioned above. since we have answered one question in favour of the revenue and the other against it, we ..... that the fees paid to the registrar of companies for raising the authorised capital of the assessee-company wascovered by sub-clause (2)(c)(iv) of section 35d of the income-tax act,1961 ?' the assessee is a limited company which paid rs. 60,000 as fee for registration to the registrar of companies as required under the companies .....Tag this Judgment!
Court : Rajasthan
Reported in : 74ITR385(Raj); 1969()WLN157
..... of by this judgment.2. the first three cases are references made by the income-tax appellate tribunal, delhi bench 'b' (hereinafter called 'the tribunal'), under section 66(1) of the indian income-tax act, 1922 (hereinafter called 'the act'). the income-tax reference no. 27 of 1964 relates to the assessmentyear 1946-47 while income-tax reference no. 25 of 1964 and no. 26 of 1964 relate to the ..... out that it was difficult to understand how the existence of a return could be ignored once it had been filed. it was also pointed out that if the income-tax officer had acted on these returns and assessed the assessee before march 31, 1950, that is, within four years of the end of the assessment year, the assessment would have been valid ..... necessary for a valid assessment that the return be filed before the competent income-tax officer and not before any other unconnected person. 'income-tax officer' has been defined under the act as meaning a person appointed to be an income-tax officer under section 5 of the act. thus, it is only before such an income-tax officer who has been appointed under section 5 that a return should ..... is, before 7th april, 1949. in this case, notice was issued to the company by the income-tax officer under section 34 of the act on 21st february, 1953, that is, after 7th april, 1949. thus, as pointed out by the appellate assistant commissioner of income-tax, delhi, the income-tax officer, ajmer, had no jurisdiction to issue a notice to the company under section 34 of .....Tag this Judgment!
Court : Rajasthan
Reported in : 120ITR158(Raj); 1979()WLN213
..... m.l. joshi, j. 1. the agricultural ito assessed the appellants under the provisions of the rajasthan agricultural income-tax act, 1953 (hereinafter to be referred to as 'the act'), for the assessment years 1954-55 to 1959-60 by his separate six assessment orders. the appellants did not prefer any appeal against the said assessment orders before the assistant ..... reads as under:'52. power of revision by commissioner.--... (2) the commissioner may, on application by an assessee for revision of an order under this act passed by any agricultural income-tax officer made within one year from the date of the order, or within such further period as the commissioner may think fit to allow, on being satisfied that the assessee ..... raised on behalf of the respondents, namely, (1) that the appellants could not prefer revision applications before the commissioner, commercial taxes, under section 52(2) of the act as they did not avail of the statutory remedy of appeal provided in the act against the impugned assessment orders before the assistant commissioner; and (ii) that a single petition under article 226 of the ..... not maintainable as the statutory right to appeal was not availed of. we are fortified in our view by a decision of the madras high court rendered in sreenivasalu v. cit : 16itr341(mad) . this case, of course, was under the indian i.t. act. it related to the construction to be put on section 33a of the indian i.t .....Tag this Judgment!
Court : Rajasthan
Reported in : 87ITR516(Raj); 1971(4)WLN607
..... question decided by the commissioner has been given. that right was availed of and the commissioner decided that the income-tax officer, ajmer, was competent to issue notice under section 34 to the assessee. that decision, even though erroneous, became final as the income-tax act, 1922, does not provide for any appeal against it. 9. it will be enough in this context to quote ..... b.p. beri, j. 1. this is a reference under section 66(1) of the indian income-tax act, 1922 (hereinafter called ' the act'), made by the income-tax appellate tribunal, delhi bench 'c ', at the instance of the assessee. 2. facts relevant for answering the question referred to us are these: messrs. udaipur distillery company (hereinafter called ' the ..... the observations of theirlordships of the federal court in wallace brothers & co. ltd. v. commissioner of income-tax,  13 i.t.r. 39, 45 (f.c.)' clause (3) of ..... , refer the matter for determination under this sub-section before assessment is made. (4) notwithstanding anything contained in this section, every income-tax officer shall have all the powers conferred by or under this act on an income-tax officer in respect of any income, profits or gains accruing, or arising or received within the area for which he is appointed. (5) the provisions of sub .....Tag this Judgment!
Court : Rajasthan
Reported in : 233ITR588(Raj)
..... dr. tomar. it is also admitted fact that after the search, the detailed enquiry has been made by the assistant commissioner before the order under section 132(5) of the income-tax act and on the basis of that enquiry, he found that the owner of the fdrs is shri jayanti lal patel. he enquired from various banks how the money flowed and ..... the first informant and complainant; that, he failed in his machination to get a case registered for an offence punishable under the provisions of the income-tax act in the income-tax raid supervised, stage-managed by him, against the petitioners, which ended in a whimper obviously after having found no case made out, and that since he failed in his intrigue, ..... the first informant and complainant ; that, he failed in his machination to get a case registered for an offence punishable under the provisions of the income-tax act in the income-tax raid supervised, stage-managed by him, against the petitioners, which ended in a whimper obviously after having found no case made out, and that since he failed in his intrigue, ..... of the criminal procedure code, quashed the fir and passed strictures against shri dilip shivpuri, the then ddi in the income-tax department. after the search by the income-tax department and material available on record, order under section 132(5) of the income-tax act, 1961 (hereinafter referred as the 'act'), has been passed and therein the view has been taken that shri jayanti lal patel is a owner .....Tag this Judgment!
Court : Rajasthan
Reported in : (1986)52CTR(Raj)286; 160ITR908(Raj); 1985(2)WLN789
..... by or on behalf of the ruler as privy purse or as a result of any financial agreement with the government and, therefore, exemption under section 10(19) of the income-tax act, 1961, is not available in the hands of the assessee. the covenant is between the ruler and the government whereas hath kharch allowance is between the ruler and the assessee ..... hold that the annual 'hath kharch allowance ' which was being paid to the assessee was in pursuance of an enforceable custom and, therefore, was not exempt from tax under section 10(19) of the income-tax act, 1961 ? 3. whether the tribunal erred in not following the view of the supreme court in the case of kunwar shri vir rajendra singh v. union of ..... kunwar, of udaipur to the tribunal. the same was dismissed. the tribunal considered the question of exemption under sections 10(19) and 10(2) of the income-tax act, 1961 (xliii of 1961) (for short 'the act'), and recorded the following findings:(1) that the deceased-assessee has all along in the past been receiving the said allowance by way of periodical receipts accruing ..... the respective financial years relevant to the assessment years 1970-71 and 1971-72 from maharana bhagwat singh of mewar was exempt from income-tax under the provisions of section 10(19) and/or section 10(2) of the income-tax act, 1961, or otherwise '7. after carefully examining the findings recorded by the tribunal in its order dated april 27, 1976, and the controversial .....Tag this Judgment!
Court : Rajasthan
Reported in : 155ITR609(Raj); 1985(1)WLN649
..... section 10(2)(xv) as, in considering the allowability of an expenditure under section 10(2)(xv) of the income-tax act, one cannot travel beyond the provisions of the income-tax act and deny the benefit of deduction under that section on the ground that the payment is unauthorised or has been prohibited ..... the value of benefit accruing to him, shall be deemed to be profits and gains of business or profession and accordingly chargeable to income-tax as the income of that previous year, whether the business or profession in respect of which the allowance or deduction has been made is in existence in ..... the following observations (page 5):' moreover, we do not think that this inquiry is relevant, for we are dealing with a question of income-tax and not judging the legality or propriety of the transaction on an application to reduce the capital of the company. the only question is whether ..... to make payment for pressing the bales at anything more than rs. 16 per bale. inasmuch as this amount has already been allowed by the income-tax officer as business expenditure, no further relief is called for. the appeal of the assessee on this point, therefore, fails. '3. it may ..... by some other statute. further, section 348 of the companies act, 1956, does not impose an absolute prohibition because any excess payment could be authorised under section 352 of the act .....Tag this Judgment!
Court : Rajasthan
Reported in : 259ITR744(Raj)
..... rajesh balia, j.1. heard learned counsel for the appellant.2. this appeal under section 260a of the income-tax act, 1961, is directed against the order of the income-tax appellate tribunal, jodhpur bench, jodh-pur, dated may 31, 2001. the question suggested by the revenue in this appeal as a substantial question of law involved in this case is ..... to avail of higher limit of credit from the bank. this explanation submitted by the assessee was not accepted by the assessing officer as well as by the commissioner of income-tax (appeals). however, the tribunal, on appreciation of evidence, found that in the present case, there was no physical control over the stock pledged with the bank and it remained with ..... as under :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is justified in holding that the stock statement submitted to the bank cannot be considered an authentic piece of evidence for making addition and thereby deleting the additions ..... . the assessee has shown the closing stock in his books of account for the assessment year 1992-93 at rs. 2,36,450 as on march 31, 1992, and an income to the tune of rs. 1,04,437. during the course of assessment proceedings, the assessing authority came across the stock submitted to the bank wherefrom the assessee was enjoying .....Tag this Judgment!
Court : Rajasthan
Reported in : (2006)206CTR(Raj)626; 286ITR477(Raj)
..... 80,000 made by the assessing authority on account of unexplained share capital/share application money which was confirmed by the commissioner of income-tax (appeals) under section 68 of the income-tax act, 1961.3. rs. 70,000 were added by the assessing officer as unexplained share capital shown to be invested by seven ..... ltd.'s case : 192itr287(delhi) as to the ambit and scope of the enquiry in cases like this under section 68 of the income-tax act. it has said that:it is evident that even if it be assumed that the subscribers to the increased share capital were not genuine, nevertheless, ..... by the investors had not been explained by the assessee and, therefore, the same has been held to be income of the company from undisclosed sources under section 68 of the income-tax act, 1961.4. similarly, the assessing officer has added rs. 5,10,000 received by the assessee as share application ..... of the income-tax act, 1961, is against the order dated may 20, 2004, passed by the income-tax appellate tribunal, jodhpur bench, jodhpur. the respondent-assessee is a company and the issue relates to the assessment year 1997-98. the assessee-company has filed return of income declaring rs. 3,700 as income for the ..... shares on the receipt of share application money then the amount so received would be credited in the books of account of the company. the income-tax officer would be entitled to enquire, and it would indeed be his duty to do so, whether the alleged shareholders do in fact exist .....Tag this Judgment!
Court : Rajasthan
Reported in : AIR1965Raj205
..... against the firm. we are not unmindful of the fact that under the civil procedure code a dissolved firm has no entity, but for income-tax purposes section 44 of the income-tax act, as discussed above, creates a fiction and regards a dissolved firm as a firm still in existence for the purposes of assessment which ..... . on 5-2-52, an application was made on behalf of the firm for its registration under the income-tax act before the income-tax officer, a-ward, jaipur, but the application was rejected by the income-tax officer. the petitioner's case is that one of them namely, daya ram left the firm from 30-5 ..... 44itr442(sc) , their lordships of the supreme court had to consider the import of the term 'assessee' as defined in section 2(2) of the indian income-tax act in respect of a legal representative of a deceased person and their lordships observed as follows : 'the generality of the definition of 'assessee' in section 2(2 ..... because it is only when a notice of demand is issued to a person that he can file an appeal under section 30 of the income-tax act. according to the dicta of that case if any person were to challenge his partner of the firm then, he will have no remedy for ..... recovery proceedings on the ground that they were never served with any demand notice, or any notice of assessment in accordance with section 29 of the income-tax act, with the result that the proceedings are without jurisdiction. their bone of contention is that as ex partners of the firm, which stood dissolved, .....Tag this Judgment!