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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Year: 1968 Page 1 of about 650 results (0.119 seconds)

Dec 30 1968 (HC)

Commissioner of Income-tax Vs. Trustees of H.E.H. the Nizam's Miscella ...

Court : Andhra Pradesh

Decided on : Dec-30-1968

Reported in : [1969]74ITR558(AP)

..... again on the basis that the assessee had not made out that the agreement to grant the loan was not subject to the condition that it was free of income-tax under the indian income-tax act. we have already stated that not only the decision of the supreme court deals with both the questions, one of which pertains to the grant of the identical ..... trust. the question for consideration that arose was (at page 679) whether the 1 per cent. loan is a state government security within the meaning of section 8 of the income-tax act. the answer to this question is at page 680 where subba rao j. (as he then was), delivering the judgment of the court, held in these words : ' with the aid ..... by the constituent assembly. in other words, the nizain and the military governor were both aware that after the applicability of the constitution to the state of hyderabad, the indian income-tax act would be made applicable and it is in contemplation of this contingency that the correspondence and the agreement took place. even after the promulgation of the constitution, the chief minister ..... , and secondly, that even if it is not taxable, as at the time when it was granted, the income-tax that was in the contemplation of parties was the hyderabad income-tax act, since the indian income-tax actsubsequently became applicable, the said loan cannot foe free from income-tax unless there was notification published by the government. the assessee's contention that the loan was to the state .....

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Dec 20 1968 (HC)

Late R. Sridharan by Legal Heirs Mrs. Rosa Marie Stenbchler and Minor ...

Court : Chennai

Decided on : Dec-20-1968

Reported in : AIR1970Mad249; [1969]73ITR360(Mad)

..... the tribunal therefore, was in error in holding that there was no hindu undivided family of sridharan and his eon whereby the assessee could claim to be assessed and taxed as such either under the income-tax act, wealth tax act or the expenditure tax act we therefore, answer the question in the affirmative and in favour of the assesses with costs. counsel's fee rs. 250. ..... out and stated succinctly thus:"..... under the hindu system of law a joint family may consist of a single male member and widows of deceased male members, and the income-tax act does not indicate that a hindu undivided family as an assessable entity must consist of at least two male members."in the case under consideration, nicolas sundaram has to be ..... law of hindus by legislation. it has to be stated at the outset that certain doctrines of hindu law though seemingly inconsistent with the spirit and scheme of the income tax act, yet a possible reconciliation can be made when a seeming or apparent conflict arises and find whether the intention of the legislature when it enacted the fiscal enactment was ..... the circumstances of the case, the assessee and his son constituted a hindu undivided family for purposes of assessment under the income tax, wealth tax and expenditure tax acts."2. the tribunal passed a consolidated order in the appeals against the assessments respectively made under the income-tax act and wealth tax act for the assessment years 1960-61 and 1961-62 and against the assessment under the expenditure .....

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Dec 20 1968 (HC)

Late R. Sridharan by Legal Heirs Mrs. Rosa Marie Stenbehler and Minor ...

Court : Chennai

Decided on : Dec-20-1968

Reported in : (1970)2MLJ334

..... tribunal therefore was in error in holding that there was no hindu undivided family of sridharan and his son whereby the assessee could claim to be assessed and taxed as such either under the income-tax act, wealth-tax act or the expenditure-tax act. we therefore answer the question in the affirmative and in favour of the assessee with costs. counsel's rs. 250. ..... law of hindus by legislation. it has to be stated at the outset that certain doctrines of hindu law though seemingly inconsistent with the spirit and scheme of the income-tax act, yet a possible reconciliation can be made when a seeming or apparent conflict arises and find whether the intention of the legislature when it enacted the fiscal enactment was ..... constituted a hindu undivided family for purposes of assessment under the income-tax, wealth-tax and expenditure-tax acts.2. the tribunal passed a consolidated order in the appeals against the assessments respectively made under the income-tax act and wealth-tax act for the assessment year 1960-61 and 1961-62 and against the assessment under the expenditure ..... t. ramaprasada rao, j.1. on applications made by the assessee under sections 27 (1) of the wealth-tax act, section 66 (1) of the income-tax act and section 25 (1) of the expenditure-tax act, the income-tax appellate tribunal has referred the following common question for our decision:whether on the facts and in the circumstances of the case, the assessee and his son .....

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Dec 20 1968 (SC)

Rama Rao and anr. Vs. Narayan and anr.

Court : Supreme Court of India

Decided on : Dec-20-1968

Reported in : AIR1969SC724; (1969)71BOMLR696; 1969CriLJ1064; 1969MhLJ597(SC); (1969)1SCC167; [1969]3SCR185

..... proceedings before the income-tax officer judicial proceedings for the purpose of section 193, indian penal code and accordingly the proceeding before him must be treated as a ..... ), we had occasion to consider whether section 177, i.p. code, was repealed by section 52 of the indian income-tax act. it was pointed out that in considering the problem the court must consider the true meaning and effect of the two acts, and unless there is repugnancy or inconsistency between the two enactments or that the two enactments cannot stand together they ..... that an income-tax officer exercising power under section 37(1), (2) and (3) was exercising power in a judicial proceeding for the purpose of sections 193, 196 and 228 indian penal code. the court, however, expressly observed that it was not necessary to decide the general question whether the income-tax officer was a 'court', for section 37(4) of the income-tax act makes the ..... not been accepted by this court in jagan nath prasad v. the state of uttar pradesh : [1963]2scr850 . it was held in that case that the sales tax officer under the u.p. sales tax act is not a 'court' within the meaning of section 195 of the code of criminal procedure, and a complaint for the prosecution of persons committing offences under .....

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Dec 19 1968 (HC)

Commissioner of Income-tax Vs. R. Dwarkadas and Co.

Court : Mumbai

Decided on : Dec-19-1968

Reported in : [1971]80ITR283(Bom)

..... and they had joined in putting it forward along with other partners for registration, it was admissible for registration under the indian income-tax act (see ramlal murlidhar v. commissioner of income-tax, [1930] 5 i.t.c. 150. there is no dispute here that the partnership of which the erstwhile minor was ..... in which a minor was admitted as a full-fledged partner, was not valid and could not be registered under section 26a of the indian income-tax act. it is, therefore, contended on behalf of the department that the basis of the decision of the appellate assistant commissioner and the tribunal ..... of the case, and on the basis of annexures 'a' and 'b' the respondent-firm is eligible for registration under section 26a of the income-tax act, 1922?'2. up to the 6th of july, 1951, a business was carried on in partnership by three persons named premji, kamalben and ramankant ..... any defect whatsoever. for the year of account, therefore,, there was a validly constituted firm in operation and the documents presented before the income-tax officer could be regarded as an instrument under which the firm was validly constituted. in our opinion, therefore, although the basis on which ..... as to the second year, viz., 1956-57, the position is still stronger for the assessee. the documents, which were presented before the income-tax officer as constituting the instruments of partnership, were the original partnership deed and the subsequent document executed on 24th february, 1955. by this document .....

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Dec 19 1968 (HC)

Hari Raj Swarup and ors. Vs. State of U.P.

Court : Allahabad

Decided on : Dec-19-1968

Reported in : [1970]77ITR853(All)

..... and the reference was answered in favour of the assessee.7. in passing, the board has relied upon section 4a of the u. p. agricultural income-tax act and referred to the absence of evidence showing that agricultural land had been transferred to the wife of each brother for adequate consideration or in connection with ..... , along with their respective wives and sons constituted a joint hindu family. in assessment proceedings for the year 1359 fasli, under the u. p. agricultural income-tax act, it was urged by the assessees that the joint hindu family had suffered partition resulting in the complete disruption of the family as a result of which ..... r.s. pathak, j.1. this is a reference under section 24(4) of the u. p. agricultural income-tax act, and the question referred for the opinion of this court is:' whether the partition decree could be ignored on the ground that the ..... found that the members were living and messing together and that the partition of the family was a fiction designed merely to evade agricultural income-tax. accordingly, he assessed the agricultural income in the hands of the three separated branches of the family according to the share of each branch.3. on appeal, the contention was ..... it. this is not a case where an assessee asserts that he had settled the property on his wife and was, therefore, not liable to tax on its income. the case before the board was one of partition of joint family property, and it cannot be disputed that no transfer is effected when a .....

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Dec 18 1968 (HC)

Blue Star Engineering Co. (Bombay) (P.) Ltd. Vs. Commissioner of Incom ...

Court : Mumbai

Decided on : Dec-18-1968

Reported in : [1969]73ITR283(Bom)

..... the companion reference no. 102 of 1968 relating to the correctness of the rectification of the assessment order for the assessment year 1954-55 under section 154 of the indian income-tax act. we have already mentioned the facts relating to the said question which is as follows : 'whether, on the facts and in the circumstances of the case, it was competent to ..... , argued that the service of a notice under section 43 is a condition irritant to the initiation of an assessment proceeding against an agent under section 43 of the indian income-tax act. 18. we do not think that the contention raised by mr. mehta is sustainable. having regard to the scheme of sections 42 and 43, if the requirements of section 42 ..... this court. the question raised on the said reference is 'whether, on the facts and in the circumstances of the case, it was competent to the income-tax officer to ratify under section 154 of the income-tax act, 1961, the original assessment order dated 31st march, 1959 ?' 4. mr. mehta for the assessee has, therefore, stated that in view of the matter raised on ..... to be ratified having been record in the appellate order of the appellate assistant commissioner and of the income-tax appellate tribunal, the income-tax officer was not competent to rectify the same. secondly, it was urged that the income-tax officer's jurisdiction under section 154 of the income-tax act, 1961, only extends to the amendment of the order and not to the cancellation thereof. the rectification .....

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Dec 18 1968 (HC)

Dhirajlal Girdharlal Vs. Commissioner of Income-tax, Bombay City

Court : Mumbai

Decided on : Dec-18-1968

Reported in : [1970]78ITR657(Bom)

..... the tribunal declined to make a reference as it found no question law upon their order and in an application under section 66(2) of the indian income-tax act, the high court also declined to call for a reference. 8. the assessee then took the matter up to the supreme court and the decision of ..... has only arisen in view of the fact that the assessee in the first year purchased shares of the value of over rs. 2 lakhs. the income-tax officer may say that the purchase of new shares indicates that the assessee had converted his holding of shares into his stock-in-trade. but considering ..... to be determined was whether the nature of the transactions put through by the hindu undivided family amounted to carrying on a business or as the income-tax officer had put it whether the hindu undivided family 'converted their inheritance into stock-in-trade.' as to whether upon the nature of the transaction ..... 3,65,983 1,26,718assessment year 1946-47 9,859 1,25,304 44,239 7. in the assessment year 1944-45, the income-tax officer assessed the income of the hindu undivided family from the said purchases and sales and purchases of shares. the appellate assistant commissioner in appeal reversed the decision and ..... that the shares were transferred, and that too a substantial holding of the firm, indicated conclusively that the object of the transfer was to evade income tax; that the hindu undivided family (the assessee) did not take the share as the return of its capital; that the shares did not remain with .....

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Dec 17 1968 (HC)

Commissioner of Income-tax, Bombay Vs. K.B.H.M.D.H. Bhiwandiwalla and ...

Court : Mumbai

Decided on : Dec-17-1968

Reported in : [1971]79ITR467(Bom)

..... v.s. desai, j.1. the question raised in this reference under section 66(2) of the indian income-tax act, 1922, arises out of the assessment order for the assessment year 1958-59 corresponding to the previous year ended on 31st march, 1958, and is as follows : 'whether, on the ..... its business. 21. the other case in birla cotton spinning & weaving mills ltd. v. commissioner of income-tax related to the expenses incurred by the assessee in making representations before the income-tax investigation commission and also for challenging the validity of the taxation of income (investigation commission) act, 1947. it was held that as the expenditure was incurred by the assessee-company in opposing an ..... company also acted as importers and distributors on behalf of foreign principals and bought and sold on its own account. under ..... the present case was for the stoppage of the source of income or for the stoppage of the profit-making apparatus. 14. another case relied upon by mr. dwarkadas is gillanders arbutnot & co. ltd. v. commissioner of income-tax. in that case the appellant-company carried on business in diverse lines : besides acting as managing agents, shipping agents, purchasing agents and secretaries, the .....

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Dec 16 1968 (HC)

Manilal Dharamchand Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Dec-16-1968

Reported in : [1970]78ITR96(Bom)

..... partnership with an individual member of the coparcenary quoad his separate property. it was also held by the privy council in sundar singh majithia v. commissioner of income-tax that there was nothing in the income-tax act to prohibit the members of a joint hindu family from dividing some properties, while electing to retain their joint status, and carrying on business as partners in ..... the circumstances were almost similar to the circumstances here. on 23rd august, 1940, a firm known as bhagat ram mohanlal was constituted and registered under section 26a of the indian income-tax act. its partners were (1) bhagat ram mohanlal, hindu undivided family, (2) richpal and (3) gajadhar, who were strangers to the hindu undivided family. the respective shares given to the ..... partnership formed by the deed of partnership dated 12th november, 1953, is one which gives rise to a legal partnership and can be registered under section 26a of the indian income-tax act, 1922. 2. manilal and keshavlal were two brothers and they were coparceners in a hindu undivided family. they entered into a partnership with one mangalji on 25th october, 1943. ..... rahim and co., and on the remarks at page 659 : 'the legal position may be stated thus : when a firm makes an application under section 26a of the act for registration, the income-tax officer can reject the same if he comes to the conclusion that the partnership is not genuine or the instrument of partnership does not specify correctly the individual shares .....

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