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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Year: 1985 Page 1 of about 2,277 results (0.107 seconds)

Jan 01 1985 (HC)

Commissioner of Income-tax Vs. Birla Cotton Spinning and Weaving Mills ...

Court : Kolkata

Decided on : Jan-01-1985

Reported in : (1986)54CTR(Cal)257,[1986]157ITR516(Cal)

..... knew or had reason to believe it to be untrue.10. on the aforesaid facts, the revenue filed an application under section 256(1) of the income-tax act, 1961, suggesting four questions. however, the tribunal referred the following common question for the aforesaid two assessment years :' whether, on the facts and in ..... 67 and 1968-69 for which the previous years ended on march 31, 1966, and march 31, 1968, respectively.2. the income-tax officer served demand notice under section 210 of the income-tax act, 1961, calling upon the assessee to pay rs. 24,92,216 for the first year under reference and the assessee paid, ..... for the assessment year 1971-72 ended on august 31, 1970. it paid advance tax as demanded by the income-tax officer under section 210 of the income-tax act, 1961, on an income of rs. 5.44 lakhs. the last instalment of advance tax was paid on january 15, 1971. on may 7, 1971, the books of ..... as per its estimate, rs. 2,50,897. for the second year under reference, the income-tax officer demanded rs. 5,34,332 under section 210 of the income-tax act, 1961, and the assessee paid, as per its estimate, rs. 3,35,000. the facts revealed for the first ..... assistant commissioner was rejected. before the tribunal, it was contended that the assessee was entitled to file its estimates of income at any time under section 18a(2) of the indian income-tax act, 1922, and there was no obligation on the assessee to wait till the end of the account year before filing .....

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Jan 03 1985 (HC)

Moti Trust Vs. Commissioner of Income-tax

Court : Rajasthan

Decided on : Jan-03-1985

Reported in : (1985)46CTR(Raj)264; [1987]165ITR367(Raj); 1985(1)WLN349

..... appeals before the income-tax appellate tribunal. the learned tribunal disposed of both the appeals by a common order dated november 24, 1980. the tribunal agreed with ..... unknown and, as such, the provisions of section 164 were applicable?' 3. brief facts of the case are that pursuant to a notice issued under section 143(2) of the income-tax act, 1961 (no. xliii of 1961) (for short 'the act'), by the income-tax officer, a-ward, kota, m/s. moti trust (hereinafter referred to as 'the assessee ') filed a return of its ..... in respect of the assessment year 1976-77. the commissioner directed the income-tax officer to charge tax on the assessee-trust under section 164 of the act and to issue necessary consequential notice of demand and challan and take steps to collect the same as per the provisions of the income-tax act, 1961.6. the assessee, aggrieved against the orders of the commissioner, filed two ..... of association of persons and had completed the assessment under section 164 of the act. the assessee itself had also declared the status as association of persons but the income-tax officer in the assessment forms did not tax the trust as provided under section 164. the order passed by the income-tax officer was considered to be erroneous and as there was loss of lawful .....

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Jan 03 1985 (TRI)

income-tax Officer Vs. Brish Bhan Gupta

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Jan-03-1985

Reported in : (1985)13ITD1(All.)

..... and are being disposed of by a combined order for the sake of convenience.2. assessments under section 148 of the income-tax act, 1961 ('the act') were made in the case of all the respondents for the assessment year 1975-76 and interest under sections 139(8) and 217 ..... basis for clause (iv) extracted above. section 148 reads as follows : (1) before making the assessment, reassessment or recomputation under section 147, the income-tax officer shall serve on the assessee a notice containing all or any of the requirements which may be included in a notice under sub-section (2) ..... 2) or sub-section (4) for an assessment year is furnished after the specified date, or is not furnished, then (whether or not the income-tax officer has extended the date for furnishing the return under sub-section (1) or sub-section (2), the assessee shall be liable to pay simple ..... {supra) relates itself with the proceedings for penalty initiated under section 273(a) of the act.the said section as it obtained at the relevant time provided, inter alia, as follows : if the income-tax officer in the course of any proceedings in connection with the regular assessment....their lordships were ..... considering the scope of the wordings italicised above and in that connection they noted that regular assessment having been defined under clause (40) of section 2 of the act as an assessment .....

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Jan 03 1985 (HC)

Calicut Modern Spinning and Weaving Mills Ltd. Vs. Commissioner of Inc ...

Court : Kerala

Decided on : Jan-03-1985

Reported in : (1985)47CTR(Ker)145; [1985]153ITR810(Ker)

..... to earlier, business loss would have precedence over both unabsorbed depreciation as well as unabsorbed development rebate.' 9. kanga and palkhivala in the law and practice of income tax, 7th edn(1976), vol. 1, page 402, states as follows : 'in cases where an assessee is entitled to both depreciation and development rebate, the ..... is unabsorbed depreciation allowance carried forward under section 32(2) and unabsorbed business loss under section 72(1), in view of section 72(2) of the act, the business loss of the earlier years will be entitled to priority. according to the counsel for the petitioner, this may be so, in view of ..... 4. sections 32(1), 32(2), 33(1)(a), 33(2) read with the explanation and sections 72(1) and 72(2) of the i.t. act, 1961, are relevant in this regard. they are extracted hereinbelow : '32. depreciation.--(1) in respect of depreciation of buildings, machinery, plant or furniture owned by the ..... the specific provision contained in section 72(2) of the act. says counsel, section 72(2) of the act, does not make any reference to section 33(1) read with section 33(2). section 33(1) and (2) alone deal with ..... be carried forward, effect shall first be given to the provisions of this section. ' 5. briefly stated, under section 32(2) of the act, unabsorbed depreciation allowance of the earlier year or years shall be deemed to be part of that allowance for the current year. the current year's net assessable .....

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Jan 04 1985 (HC)

Srinivasa Traders and ors. Vs. Commercial Tax Officer, Chintamani Circ ...

Court : Karnataka

Decided on : Jan-04-1985

Reported in : ILR1985KAR1179; [1985]58STC343(Kar)

..... as on 26th october, 1984 in interpreting the scope and ambit of section 64 of the income-tax act, 1961 noticing all the important cases and text books, has explained the principles of construction in these words : '11. we shall presently consider these decisions, but before we do so, ..... . in h. e. h. nizam's religious endowment trust, hyderabad v. commissioner of income-tax, andhra pradesh, hyderabad : [1966]59itr582(sc) and lakshmiratan cotton mills co. ltd. kanpur v. commissioner of income-tax, u.p. : [1969]73itr634(sc) , the supreme court has applied the above principles to proceedings arising under the income-tax act. 22. on the burden of proof and the rule of exception incorporated in ..... of construction that should guide the construction of section 6-a(2) of the act. 23. a machinery provision in a fiscal statute should be so interpreted as to make the charging provision of that statute effective is well-settled. 24. in c. arunachalam v. commissioner of income-tax ilr (1984) 2 kar 1387 (fb), a full bench of this court, as late ..... wish to submit that we are not the first purchasers within the state of karnataka. we are only the subsequent purchasers within the state. the charge under the karnataka sales tax act is on the first purchase and the burden of proving that we are the first purchasers is on the assessing authority. unless this burden is discharged no purchase .....

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Jan 04 1985 (HC)

Somasundaram P. Ltd. Vs. Commissioner of Income-tax

Court : Karnataka

Decided on : Jan-04-1985

Reported in : ILR1985KAR3412; [1985]152ITR664(KAR); [1985]152ITR664(Karn)

jagannatha shetty, j.1. these are references under s. 256(2) of the i.t. act, 1961 ('the act'). the questions referred by the income-tax appellate tribunal are : '(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the provisions of section 104 are attracted for the assessment year 1965-66 (2 ..... for in the books of account. in regard to this income, assessee entered into a settlement with the commissioner under s. 271(4a) of the act admitting the income as under : rs.1962-63 2,15,2431963-64 2,74,3871964-65 2,11,600-------- 7,01,230--------3. subsequently, the commissioner of income-tax passed orders under s. 264 or s. 263, as the ..... case may be, determining the income fort the assessment years 1962-63 to 1964-65 according ..... 'arm-chair-principle' to find out whether the act of the company was unreasonable from the commercial point of view. 13. in gold motor service (p.) ltd.'s case : [1966]60itr417(sc) , the supreme court has observed that the deliberately concealed income which came to the included in the assessable income of the assessee for income-tax purposes is liable to be included in the .....

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Jan 07 1985 (HC)

Oil India Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-07-1985

Reported in : (1986)50CTR(Cal)355,[1986]159ITR151(Cal)

..... j.1. for the assessment year 1968-69, the following question of law was referred to this court under section 256(1) of the income-tax act, 1961 :' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that drains, culverts and ..... roads were not buildings or plant and as such no depreciation was admissible thereon 'in the assessment for the assessment year 1968-69, the income-tax officer, following his assessment order for earlier years, rejected the claim of the assessee-company for the grant of depreciation allowance in respect of ..... , drains, culverts, swimming pools, parks, fencing, etc. the appellate assistant commissioner, following his order in respect of earlier years, directed the income-tax officer to go into the details and allow depreciation wherever it may be due on the lines and hi the light of the principles enunciated by ..... company whereby the order of the appellate assistant commissioner had been reversed and that of the income-tax officer has been restored. following its earlier order, the appellate tribunal similarly restored the order of the income-tax officer on this point for the assessment year 1968-69.2. for the assessment years ..... business of the assessee and whether depreciation as claimed by the assessee is admissible or not. the said decision is reported in oil india ltd. v. cit : [1978]114itr323(cal) .3. for the assessment year 1969-70, at the instance of the assessee, the following question was referred to this court .....

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Jan 07 1985 (HC)

Commissioner of Income-tax Vs. Doon Foundation

Court : Kolkata

Decided on : Jan-07-1985

Reported in : (1986)53CTR(Cal)440,[1985]154ITR208(Cal)

..... the circumstances of the case, the tribunal was justified in holding that m/s. doon foundation was an educational institution and entitled to exemption under section 10(22) of the income-tax act, 1961 ?'4. mr. a. c. maitra, the learned advocate appearing for the commissioner, has submitted that the educational institution of the assessee is not affiliated to any university. it is ..... be applied directly or indirectly for the benefit of the members of the foundation or their relatives or other persons specified in section 13 of the income-tax act, 1961, as amended from time to time ; (iv) the income and property of the trust shall be applied solely towards the promotion of the objects and purposes of the foundation as set forth in this ..... institution existing solely for the purpose of education and not for profit. therefore, the assessee was an educational institution, the income of which was exempt under section 10(22) of the act.11. the last decision cited is in the case of cit v. saraswath poor students fund : [1984]150itr142(kar) . in that case, the assessee was a society registered under the societies ..... . mr. bajoria has heavily relied on the decision of this court in the case of birla vidhya vihar trust v. cit : [1982]136itr445(cal) . in that case, the assessee trust claimed exemption under section 10(22) in respect of the income from mahadevi birla girls' high school and mahadevi birla sishu vihar. the ito rejected the claim for exemption on the ground .....

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Jan 07 1985 (HC)

Commissioner of Income-tax Vs. Lakshmi Narayanan

Court : Chennai

Decided on : Jan-07-1985

Reported in : (1986)52CTR(Mad)240; [1986]157ITR816(Mad)

..... and 1971-72, the tribunal is not right in holding that the commissioner was not justified in issuing a notice proposing to revise the order of the income-tax officer. in this view, the first question has to be answered in the negative and in favour of the revenue. 4. coming to the second question ..... that the revenue has not accepted the decision of the tribunal is not a ground for ignoring the same and proceeding to revise the order of the income-tax on the basis that the tribunal's decision is not correct. however, having regard to the fact that the decision of the tribunal in respect ..... tribunal for the assessment years 1970-71 and 1971-72 on identical issues even though not accepted by the department and which decision was available to the income-tax officer before he completed the assessment 2. if the answer to the first question is in the negative, whether the tribunal was right, on the ..... the tribunal was of the view that the commissioner was in error in proceeding on the basis that the order of the income-tax officer holding that only 1/7th share income of the firm is includible in the hands of the assessee is prejudicial to the revenue cannot be sustained as the decision of ..... proceedings cannot be sustained and in that view it set aside the revisional order of the commissioner and sustained the order of the income-tax officer holding that only 1/7th share income of the firm should be included in the hands of the assessee. aggrieved by the order of the tribunal with reference to .....

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Jan 08 1985 (TRI)

Sunjoy Dairy Farm Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Jan-08-1985

Reported in : (1985)13ITD219(Mum.)

1. this is an appeal filed by the assessee against the order of the commissioner, bombay, under section 263 of the income-tax act, 1961 ('the act').2. the assessee is a registered firm and the appeal relates to the assessment year 1978-79. we were given to understand at ..... ble calcutta high court in the case of cit v. radha nagar cold storage (p.) ltd. [1980] 126 itr 66 wherein their lordships laid down that even if the plant was temporarily let out to a sister concern, the income derived by such letting out was business income and the assessee was entitled to development rebate ..... out the business income and the business of keeping potatoes in the cold storage was an activity, which falls within the meaning of processing of goods. he, therefore, submitted that, as laid down by the hon'ble calcutta high court in the case of russell properties (p.) ltd. v. a. chowdhury, addl. cit [1977] 109 ..... held that the conversion of flat yarn into twisted yarn would amount to manufacture of a new article within the meaning of section 32 a of the act, in support of the contention that the assessee's business activity of converting the milk purchased from various sources into the brand product 'doodh amrut' amounted ..... will not be applicable here.reference in this connection was also made by him to the decision of the hon'ble bombay high court in the case of cit v. sakseria cotton mills ltd. [1980] 124 itr 570 where their lordships of the hon'ble bombay high court laid down that the principle of merger .....

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