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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: orissa Year: 1975 Page 1 of about 48 results (0.037 seconds)

Dec 12 1975 (HC)

Joseph Vallooran Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-12-1975

Reported in : [1977]108ITR544(Orissa)

..... other assets which have not been or which ought to be disclosed by the transferee for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act or the wealth-tax act, 1957 (27 of 1957), the competent authority may, subject to the provisions of this chapter, initiate proceedings for ..... r.n. misra, j.1. this is an appeal under section 269h(1) of the income-tax act of 1961 (hereinafter referred to as 'the act'). the appellant purchased 53.34 cents of land comprised in two contiguous plots situate in sankarpur area ..... to pay tax under the act in respect of any income arising from the transfer or facilitating the concealment of any income or any moneys or other assets which have not been or which ought to be disclosed by the transferee for the purposes of the act or the wealth-tax act. the appellant ..... 1969, for a consideration of rs. 35,000. the inspecting assistant commissioner, acquisition range of bhubaneswar, initiated proceedings under section 269c of the act on the footing that he as competent authority had reason to believe that the transfer by the appellant's vendor to the appellant was for ..... furnished his objection and placed for consideration of the competent authority a valuation report obtained from an expert. the official valuation officer valued the property at rs. 94,300 while the registered valuer engaged by the appellant determined the valuation at rs. 47,000. the competent authority made an order in terms of section 269f(6) of the act .....

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Dec 05 1975 (HC)

Commissioner of Income-tax Vs. Dhadi Sahu

Court : Orissa

Decided on : Dec-05-1975

Reported in : 42(1976)CLT89; [1976]105ITR56(Orissa)

..... (1)(c) holding that the inspecting assistant commissioner failed to have jurisdiction to impose penalty in consequence of the amendment of section 274(2) of the income-tax act, 1961 ?'2. the assessee is an individual deriving income from his share in a partnership business styled as 'm/s. dhadi sahu & others'. for the assessment years 1968-69 and 1969-70, the assessee filed ..... tribunal, cuttack bench, has stated these cases on applications made under section 256(1) of the income-tax act of 1961 (hereinafter to be referred to as 'the act') by the revenue and has referred the following common question for opinion of the court:'whether, on the facts and in the circumstances of the case, the tribunal was legally ..... amount of penalty imposable is in excess of rs. 1,000 under unamended sub-section (2) of section 274 of the act the case had to bo referred to the inspecting assistant commissioner for disposal. in this case, the income-tax officer while completing the assessments for both these years, being satisfied that penalties were to be imposed under section 271(1)(c ..... jurisdiction to deal with a penalty matter only when there is a reference made to him by the income-tax officer. section 271 requires the income-tax officer or the appellate assistant commissioner to initiate proceeding for penalty where in the course of any proceeding under the act the said authorities are satisfied that any of the three events as enumerated in clauses (a), (b .....

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Dec 05 1975 (HC)

Jawaharlal Khandelwal Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-05-1975

Reported in : [1977]110ITR884(Orissa)

..... of the relevant previous year 1969, viz., till august 31, 1968, for the assessment year 1969-70, was maintainable in terms of 'the provisions of section 187(1) of the income-tax act, 1961?'2. assessee is a firm and the relevant assessment year is 1969-70 corresponding to the previous year ending october 31, 1968 assessee filed its return for the year ..... r.n. misra, j. 1. on an application of the assessee made under section 256(1) of the income-tax act of 1961 (hereinafter referred to as 'the act') the income-tax appellate tribunal, cuttack bench, has stated this case and referred the following question for the opinion of the court:' whether or not, under the facts and circumstances of the case, ..... make two separateassessments for portions of the period covered by the return. reliance wasplaced on the provision of section 184(7) of the act and the decision of theandhra pradesh high court in the case of commissioner of income-tax v.sri rama talkies : [1973]87itr615(ap) . assessee contended that asingle return was filed, but two accounts were prepared for the periodsending august ..... together with a declaration under section 184(7) of the act. daring the previous year one of the partners, radhashyam khandelwal, had passed away on august 31, 1968. the income-tax officer found that the assessee had not closed the books of account on that day nor was there any reconstitution of .....

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Dec 05 1975 (HC)

Sajowanlal Jaiswal Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-05-1975

Reported in : [1976]103ITR706(Orissa)

..... to be the scope of sub-section (3).9. we would accordingly answer the question referred to us by saying :the expenditure referred to in section 40a(3) of the income-tax act is not confined to expenditure that could be claimed as a deduction under section 37 and refers to any payment made by the assessee and taken into account in computing ..... payment made by the assessee and taken into account in computing the total income under the provisions of the income-tax act, 1961 ?'2. the assessee is a firm carrying on business in grocery articles on wholesale basis at jharsuguda in the district of sambalpur. in the assessment year ..... has stated this case and referred the following question for opinion of the court on an application of the assessee made under section 256(1) of the income-tax act, 1961 (hereinafter referred to as ' the act,'):'whether the expenditure referred to in section 40a(3) refers only to the expenditure that could be claimed as a deduction under section 37 or to any ..... required section 40a(3) to be complied with only in respect of expenditure claimed as deduction under section 37 of the act. the income-tax officer did not accept the explanation and, therefore, added a sum of rs. 8,734 to the income of the assessee.3. the appellate assistant commissioner dismissed the assessee's appeal and upheld the addition. before the tribunal, in .....

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Dec 04 1975 (HC)

Kella Appalaswamy and Sons Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-04-1975

Reported in : 42(1976)CLT115; [1977]106ITR487(Orissa)

..... bombay and the appeals were received on april 7, 1954, one day after the expiry of the period prescribed under section 33 of the indian income-tax act of 1922. the tribunal while rejecting the application for condonation of delay had taken the view that there was no justification for the appellant to wait ..... r.n. misra, j. 1. on being moved by the assessee under section 256(1) of the income-tax act of 1961 (hereinafter referred to as 'the act'), the income-tax appellate tribunal, cuttack bench, has stated this case and referred the following question for the opinion of the court :'whether, on ..... to in sub-section (4), be accompanied by a fee of rupees one hundred.' 4. rule 6 of the income-tax (appellate tribunal) rules, 1963, made under section 255(5) of the act provides :'(1) a memorandum of appeal to the tribunal shall be presented by the appellant in person or by an ..... the full bench of this court took the view, reversing an earlier decision of this court in the case of sri popsing rice mill v. commissioner of income-tax : [1949]17itr420(orissa) that the postal department was an agent of the sender and not of the appellate tribunal--the addressee. relying on the said ..... was on account of delay by postal authorities in transmitting the fee remitted by the appellant. the orissa high court in brajabandhu nanda v. commissioner of income-tax : [1962]44itr668(orissa) has held that the postal delay cannot be a sufficient cause with regard to condonation of the delay in filing the appeal. .....

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Dec 04 1975 (HC)

Nilamani Ghosh and Partners Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-04-1975

Reported in : [1977]106ITR281(Orissa)

..... , that is : on the facts and in the circumstances of the case, the appellate tribunal was right in holding that in the appeal under section 246(1)(c) of the income-tax act of 1961, the issue regarding registration of the firm cannot be raised by agitating the question of status taken in the assessment order. 8. we make no order as to ..... that in an appeal under section 246(1)(c) of the income-tax act, 1961, the issue regarding the registration of the firm cannot be raised by agitating the question of status taken in the assessment order ?' 2. assessee is a firm and the ..... r.n. misra, j. 1. upon the assessee's application made under section 256(1) of the income-tax act of 1961 (hereinafter referred to as 'the act') the following question has been referred for the opinion of the court: 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding ..... the death of sri nilamani ghosh, the managing partner, and the relinquishment of the other two partners. on november 23, 1970, the income-tax officerbrought to the notice of assessee's counsel the provision of section 187(2) of the act and required the assessee to file a return for the twelve months of the accounting period covering the accounting period april 1 .....

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Dec 04 1975 (HC)

Commissioner of Income-tax Vs. Bhikari Charan Panda

Court : Orissa

Decided on : Dec-04-1975

Reported in : 42(1976)CLT263; [1976]104ITR73(Orissa)

..... r.n. misra, j.1. at the instance of the revenue on an application made under section 256(1) of the income-tax act, 1961 (hereinafter to be referred to as 'the act'), the income-tax appellate tribunal, cuttack bench, has stated this case and referred the following question for opinion of the court:'whether, on the facts and in the circumstances of the case, the ..... appellate tribunal is justified in cancelling the levy of penalty under section 271(1)(c) of the income-tax act, 1961, as barred by limitation by holding that the amendment to section 275 of the act being operative from april 1, 1971, does not extend the period of limitation in respect of penalty proceedings initiated on december 31 ..... assistant commissioner under section 274(2) of the act. the inspecting assistant commissioner by order dated 20th of february, 1973, imposed penalty on the assessee. assessee claimed before the tribunal ..... respect of the assessment year 1970-71, he filed a return disclosing an income of rs. 3.933. his income was computed at rs. 16,300. in appeal the total income was reduced to rs. 14,300. a penalty proceeding was initiated under section 271(1)(c) of the act by the income-tax offer on december 31, 1970, and was duly referred to the inspecting .....

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Dec 01 1975 (HC)

Commissioner of Income-tax Vs. Narula Cold Storage and Ice Factory

Court : Orissa

Decided on : Dec-01-1975

Reported in : [1976]104ITR148(Orissa)

..... to creation of a development rebate reserve. the learned judges of the gujarat high court also took the view that section 154 of the income-tax act was attracted as there was a mistake apparent on the record of the case. with regard to the judgment of the gujarat high court ..... grant of the allowance were fulfilled. the assessee was also informed that the scheme of giving initial depreciation had been deleted as per the income-tax act and the company realised that the condition of creation of development reserve as required fay law had not been satisfied by it in so ..... rebate claimed.....'8. the court extracted the provisions contained in proviso (b) to explanation 2 of section 10(2)(vib) of the indian income-tax act of 1922 and observed :'the creation of the reserve contemplated by this provision is a condition precedent for obtaining the allowance of development rebate. admittedly ..... in the circumstances of the case, and on a true interpretation of clause (a) of sub-section (3) of section 34 of the income-tax act, 1961, the appellate tribunal was correct in holding that the assessee-firm by making entries in respect of development rebate and development rebate reserve even ..... compliance with section 17 of the banking companies ace was not sufficient compliance with the requirements of creation of development rebate reserve in the income-tax act. there are two observations in the supreme court judgment which have led to differences of opinion between various indian high courts to which we .....

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Dec 01 1975 (HC)

Commissioner of Income-tax Vs. Raja S.N. Bhanja Deo

Court : Orissa

Decided on : Dec-01-1975

Reported in : [1977]106ITR748(Orissa)

..... tax when it accrued or when it was received ?' 2. assessee was the ex-proprietor of the erstwhile kanika estate which was abolished under the ..... year in which it accrued or has become due to the assessee. placing reliance on the provision of section 37(3) of the orissa estates abolition act, and sections 4 and 5 of the income-tax act, the tribunal held that income that accrues or arises in a particular year becomes chargeable in that year and only when accounts are maintained on cash basis, such ..... quantified and ascertained under chapter 5 of the orissa estates abolition act, 1951 ? (2) whether, in the facts and circumstances of the case and in the absence of accounts maintained by the assessee either in mercantile or cash system, and in view of sections 4 and 5 of the income-tax act, 1961, income arising to the assessee by way of interest is assessable to ..... income may be charged in the year in which it is received. accordingly, the tribunal accepted the assessee's claim and gave relief.5. the income-tax officer as also the .....

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Dec 01 1975 (HC)

Khubchand Narsing Das Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-01-1975

Reported in : 42(1976)CLT326; [1976]104ITR602(Orissa)

..... 210. hence, the making of a regular assessment, in our opinion, cannot be considered as a final order within the meaning of section 221(2) of the income-tax act.' 5. for convenience, we may extract the provision in section 221 : '(1) when an assessee is in defaulter is deemed to be in default in making a ..... year 1968-69 computed with reference to the completed assessment for the assessment year 1962-63, the final order referred to in section 221(2) of the income-tax act' is the order of assessment made for the assessment year 1968-69 and whether the penalty levied for that default should be cancelled on that basis 2. assessee ..... a firm and the relevant year of assessment is 1968-69. by notice under section 210 of the income-tax act (hereinafter referred to as the act) served on the assessee on may 23, 1967, the assessee was called upon to pay advance tax for the assessment year 1968-69. there was default in compliance with the demand and accordingly the ..... : on the facts and in the circumstances of the case, the penalty levied should have been cancelled in terms of section 221(2) of the income-tax act. 9. we make no order as to costs of the reference. das, j. 10. i agree. ..... the high court or the supreme court. every order of a statutory authority is final unless challenged in appeal or revision. therefore, when the income-tax officer makes an order of assessment under the act, it may be final. in the present case, by a final order of this type, the assessee was found not to be liable .....

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