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Judgment Search Results Home > Cases Phrase: income tax act Court: supreme court of india Year: 1963 Page 1 of about 79 results (0.089 seconds)

Apr 04 1963 (SC)

Raja Rameswara Rao Vs. Commissioner of Income-tax, Hyderabad

Court : Supreme Court of India

Decided on : Apr-04-1963

Reported in : AIR1967SC290; [1963]49ITR144(SC); [1964]2SCR847

..... the abolition regulation. these payments were brought to tax under the income-tax act, 1922 as income. the appellants contended that they were capital and not liable to be taxed. he took various proceedings and eventually a case ..... was stated to the high court of andhra pradesh for decision of the following question : 'whether the interim maintenance allowances received by the assessee under the hyderabad (abolition of jagirs) regulation, 1358 fasli, are income and therefore liable to tax ..... income chargeable to profits tax as profits of a trade or business carried on by the assessee company. the decision was that the payments were not income or profit of any trade or business. 18. we will first read from a part of the judgment of jenkins l.j. in the court of appeal. he said (p. 437), 'the act ..... of 1946 studiously avoids describing the interim income ..... the communication sum or interim maintenance. it was for that reason that the tribunal directed the income-tax officer concerned to institute an enquiry as to the nature of these three payments. apparently, the .....

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Apr 10 1963 (SC)

The New Jahangir Vakil Mills Co., Ltd. Bhavnagar Vs. the Commissioner ...

Court : Supreme Court of India

Decided on : Apr-10-1963

Reported in : AIR1964SC318; [1963]49ITR137(SC); [1964]2SCR971

..... j. 1. this is an appeal on a certificate of fitness granted by the high courtof bombay under s. 66-a(2) of the indian income-tax act, 1922. the new jehangirvakil mills co., ltd. bhavnagar, appellant before us and called the assessee,carried on the business of manufacturing and selling textile ..... start thetrading activity at an earlier date if the assessee was a dealer when theshares sold in 1944 were originally purchased, then obviously the principle incommissioner of income-tax v. bai shirin bai k. kooka : [1962]46itr86(sc) , will not apply and the profits will be the excess of the sale price ..... year 1945-46. it is however manifest that if the assessee was adealer in 1943 also, then the principle laid down by this court in commissionerof income-tax v. bai shirinbai k. kooka : [1962]46itr86(sc) , will notapply, for that decision proceeded on the footing that the assessee of thatcase converted ..... bhavnagar state. the present appeal is concerned withthe assessment year 1945-46, the account year being the calendar year 1944. inthe said assessment year the income-tax officer concerned added to the taxableincome of the assessee a sum of rs. 1,86,931/- (which was later reduced to rs.1,23,840 ..... court under s. 66(2) of the act. the third question doesnot now survive, and therefore we set out below the two questions which fallfor decision in this appeal : 1. in the event of the surplusaforesaid being held to be income assessable to income-tax whether the incomeshould be ascertained by taking the .....

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May 08 1963 (SC)

Union of India Vs. Bibhuti Bhusan Sen, and ors.

Court : Supreme Court of India

Decided on : May-08-1963

Reported in : [1964]51ITR88(SC)

..... , no question of any substitution of a receiver subsequently appointed arises now and it is unnecessary to consider the effect of sub-section (2) of section 41 of the indian income-tax act. we accordingly allow the appeals and grant permission to the appellant to proceed against bibhuti bhusan sen as receiver of the assets of the firm, messrs. sen brothers and co ..... proceed against the successor to the assessee receivers was directly raised and reliance was placed on sub-section (2) of section 41 of the indian income-tax act and section 43 of the bengal public demands recovery act. the learned judges dealt with those provisions and came to the con collusion that they did not justify leave being granted to the appellant proceed against ..... from sen. brothers and co and from the said receiver, out of the sale proceeds and (b) leave to serve notice under;sectipn!46(5a) of the income-tax act on the said receiver, that is sish ;kumar basu and to. take further proceedings as provided in the section. a, rule was issued, on that application by p.n, mookherjee ..... 41 (2) is wrong.' 6. the point raised is not free from difficulty, and in view of the provisions of section 65 of the income-tax act, the question might well arise whether any proceedings for recovery of tax lay against the successor to the assessee receivers, in the absence of any assessment on the owners of the firm. 7. fortunately for us, these .....

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Nov 26 1963 (SC)

Commissioner of Income-tax, Punjab Vs. Jai Parkash Om Parkash Company ...

Court : Supreme Court of India

Decided on : Nov-26-1963

Reported in : [1964]52ITR23(SC)

..... appeal must be allowed. it is directed against the judgment of the high court of punjab refusing the appellant's application under section 66(2) of the income-tax act, 1922, for an order directing the income-tax appellate tribunal to refer the following question to the high court for its decision : 'whether on the facts and in the circumstances of the case the sum ..... a settlement. the assessee appealed to the appellate assistant commissioner but the appeal failed. the assessee then appealed to the tribunal which allowed it and made the following observation : 'the income-tax officer was of the opinion that since the assessee was adopting a mercantile basis and had according to his own claim considered that a sum of rs. 94,253 was ..... by answering that question. this is what the learned judges of the high court did. 8. learned counsel for the assessee relying on sree meenakshi mills ltd. v. commissioner of income-tax observed that the question of which a reference was sought was concluded by authority and, therefore, we should not direct a reference of it in exercise of our power under ..... article 136. he said that the case of commissioner of income-tax v. shoorji vallabhdas and co. showed that the question had been correctly answered by the tribunal. we do not think that shoorji vallabhdas and co.'s case supports the proposition .....

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Mar 26 1963 (SC)

V.D. Talwar (Dead) and After Him His Heirs Vs. the Commissioner of Inc ...

Court : Supreme Court of India

Decided on : Mar-26-1963

Reported in : AIR1963SC1583; [1963]49ITR122(SC); [1964]2SCR519

..... amount of rs. 25,200/- paid to the assessee wasreally salary in lieu of twelve months' notice and, therefore, the amount wasliable to be taxed under the indian income-tax act, 1922. under s. 66(1) of theindian income-tax act, the income-tax appellate tribunal referred the followingquestion of law for the opinion of the high court : 'whether the sum of rs. 25,200/- received by theassessee ..... during the previous year was the revenue income of the assessee liableto tax under the income-tax act ?' 5. by its judgment and order dated november 22, 1960 the high court answeredthe question against the assessee. the assessee then obtained special leavefrom this court ..... allhis claims and dues against the employer company.' 4. in making the assessment for the year 1948-1949 the income-tax officerheld that the sum of rs. 25,200/- was a revenue receipt of the assessee liableto be taxed under the indian income-tax act, 1922 and rejected the claim of theassessee that the said sum was compensation for loss of employment and the taxamounting ..... thiscourt. 6. the short question before us is, whether the sum of rs. 25,200/- receivedby the assessee in the circumstances stated above was a revenue income liableto tax under the indian income-tax act or a capital receipt not liable to taxunder the said act 7. we think that the view taken by the high court is correct. in henry (h.m. inspector of .....

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Mar 27 1963 (SC)

Smt. Srilekha Banerjee and ors. Vs. Commissioner of Income-tax, Bihar ...

Court : Supreme Court of India

Decided on : Mar-27-1963

Reported in : AIR1964SC697; [1963]49ITR112(SC); [1964]2SCR552

..... ,regard being had to the principles we have explained above. 19. the argument that as this was a case under s. 34 of the income tax act,it cast a special burden on the department to show that this income had escapedearlier, need not detain us. no doubt, proceedings under s. 34 can only becommenced under the conditions prescribed in the section, but when ..... , and hence this appeal. 5. the connection of the appellants is that since the department had issueda notice under s. 34 of the income tax act, it was incumbent on the departmentto establish that the amount in question was income which had escapedassessment. the appellants also contend that even if the assessee was requiredto prove the source of the high denomination notes, he had ..... was also a contractor for raising coal. this matterrelates to the assessment year 1946-47. for that year, banerjee was assessed onan income of rs. 1,28,738. the assessment was then re-opened under s. 34 of theindian income-tax act, and was enhanced, but subsequently on appeal, it wasreduced to a sum a little below the original assessment. the present assessmentwas made ..... notes came into hispossession, as his transactions were frequent. the notice which was issued tohim under s. 34 of the income tax act, was not questioned on any of the groundswhich are usual in such cases. banerjee's explanation was not accepted. theincome tax officer pointed out that although his business was large and thewithdrawals from the various banks were large and frequent, he .....

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Oct 23 1963 (SC)

The Mahalaxmi Mills Ltd. Vs. the Commissioner of Income-tax, Bombay

Court : Supreme Court of India

Decided on : Oct-23-1963

Reported in : [1964]5SCR216

..... became a part b state of the union of india (uoi); by s. 3 of the indian finance act, 1950, the indian income-tax act was extended to it. in 1951-52 therefore the indian income-tax act, 1922, was in force in saurashtra in which bhavnagar was included. so, in calculating the written down value ..... the order was validly made. he contends however that it is only when a difficulty is actually experienced in giving effect to the indian income-tax act that the provision of the order can come into operation in a particular case. in the cases now under consideration, he argues, no such ..... within the competence of the central government to make the removal of difficulties order, 1950, if any difficulty arose in giving effect to the indian income-tax act in an area to which it so became extended. in making the order the central government has expressly said : 'that certain difficulties had ..... ascertaining the written down value. 6. mr. kolah complains that on this construction the position of the assessee becomes worse than if the indian income-tax act, 1922, had actually been in force in saurashtra. if that had been the case only the depreciation actually allowed in the earlier years would ..... . the authority which made the ordinance should be credited with having appreciated the position that no depreciation would have been allowed even if the indian income-tax act, 1922, had been in force, if no claim supported by proper particulars had been made. when therefore the words 'which would have been .....

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Nov 20 1963 (SC)

Commissioner of Income-tax, Hyderabad Vs. Sri Rajareddy Mallaram

Court : Supreme Court of India

Decided on : Nov-20-1963

Reported in : AIR1964SC825; [1964]5ITR285(SC); [1964]5SCR508

..... original assessment made under s. 23(4) was invalid, because notice of assessment was not served upon the group in the manner provided by s. 63(2) of the indian income-tax act, baba gowd who was served with the notice not being the principal officer who could be served with notice on behalf of the group. but no such contention was raised ..... . the business was then discontinued, and the group was dissolved. the group did not make a return of its income pursuant to the general notice under s. 22(1) of the indian income-tax act. the income-tax officer, nizamabad circle, issued a notice under s. 34 of the income-tax act calling upon baba gowd - one of the members of the group - to file a return of the ..... continuity of the firm or association is for the purpose of assessment ensured, no question of assessing the individual members of the association can arise. under ch. iv of the income-tax act an association of persons may be assessed as a unit of assessment, or the individual members may be assessed separately in respect of their respective shares of the ..... rajareddy mallaram - another member of the group. the latter then applied under s. 27 of the indian income-tax act for cancellation of the assessment. the application was rejected by the income-tax officer. in appeal to the appellate assistant commissioner, the order was set aside and the income-tax officer was directed to cancel the order of assessment under s. 23(4) and to make a .....

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Dec 02 1963 (SC)

Commissioner of Income-tax, Bombay Vs. James Anderson

Court : Supreme Court of India

Decided on : Dec-02-1963

Reported in : AIR1964SC1761; [1964]51ITR345(SC); [1964]5SCR590

..... the dividends of rs. 61,051 and 'rs. 3,73,099 deemed to have been distributed on 26th may 1947 and 22nd december 1947 respectively under s. 23a of the income-tax act were assessable in the hands of the applicant ?' 5. the high court answered the first question in the negative and declined to answer the second question. 6. with special leave ..... tribunal, bombay, were unsuccessful. 4. at the instance of anderson the following questions were referred by the tribunal to the high court of bombay under s. 66(1) of the income-tax act :- '(1) whether in the facts and in the circumstances of the case the assessment made on mr. james anderson, administrator to the estate in india of mr. henry gannon (deceased ..... net dividends so deemed to be distributed in respect of the shares were rs. 61,051 and rs. 3,73,099. the income-tax officer then issued on march 28, 1953, a notice under s. 34(1)(b) of the income-tax act addressed to 'james anderson, administrator to the estate of late mr. henry gannon' reciting that he had reason to believe that anderson ..... the extent the statute permits. there is no special machinery devised by the income-tax act enabling assessment and levy of tax in respect of such deemed income from the estate of the shareholder in the hands of his legal representative when the order of the income-tax officer pursuant to which the income was to be deemed to be distributed becomes effective was made after the death .....

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Dec 09 1963 (SC)

Life Insurance Corporation Ltd. Vs. Commissioner of Income-tax, Delhi ...

Court : Supreme Court of India

Decided on : Dec-09-1963

Reported in : AIR1964SC1403; [1964]34CompCas258(SC); [1964]51ITR773(SC); [1964]5SCR880

..... then moved the tribunal for a reference to the high court suggesting for decision the question : 'whether the proviso to rule 3(b), schedule to indian income-tax act, 1922 was applicable and whether the income-tax officer was bound to consult the controller of insurance in this case where no question arose about the rate of interest or other factor employed in determining ..... working of the insurance companies. but apart from this consideration, we feel no doubt that the language of s. 10(7) and the schedule to the income-tax act makes it perfectly certain that the income-tax officer could not make the adjustment that he did in these cases. 16. it may be pointed out that the question referred was confined to the powers ..... investments must be specially provided for by making other investments which are kept in the investment reserve fund. we are now in a position to understand the provisions of the income-tax act which include references to these documents. 26. to begin with, it must be remembered that insurance companies are assessed somewhat differently from other business organisations. normally sections 8, 9 ..... . ltd. now merged in the life insurance corporation ltd. the assessment years concerned are 1952-53, 1953-54 and 1954-55. the income-tax act, 1922 makes special provision for assessment of the income of insurance business. the income-tax officer in making the assessment orders made some adjustments in the accounts which the appellant contends, he has no power to do under these .....

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