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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Year: 1975 Page 1 of about 800 results (0.323 seconds)

Dec 31 1975 (HC)

Kaamareddy Suryanarayana and anr. Vs. the District Co-operative Office ...

Court : Andhra Pradesh

Decided on : Dec-31-1975

Reported in : AIR1976AP340

..... in bengal immunity co. ltd., v. state of bihar : [1955]2scr603 .'53. in commissioner of income-tax v. sodra devi, : [1957]32itr615(sc) , justice bhagwati referring to the ambiguity of the term 'individual' in section 16 (3) (a) of the income-tax act, 1922 observed thus :'in order to resolve this ambiguity therefore we must by necessity have resort to ..... the interpretative process, resort should necessarily be had to extrinsic evidence through the process of construction. that necessitates a reference to travaux preparatories -- the preparatory material of an act, including 'objects and reasons'. (4) the responsibility for the formulation of governmental policy and its transmission into law including the initiation of legislation is squarely placed upon the ..... in the legislature concentrates in itself the virtual control of both legislative and executive functions; and as the ministers constituting the cabinet are presumably agreed on fundamentals and act on the principle of collective responsibility, the most important questions of policy are all formulated by them.'50. what is therefore manifest is that the responsibility for ..... rule 38 provided for voluntary amalgamation of societies. rule 39 however, conferred power on the registrar of co-operative societies to compulsorily amalgamate registered societies under the act if he is satisfied that it would be in the interest of those societies. on the question whether rule 39 infringes, the fundamental right guaranteed under article 19 .....

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Dec 26 1975 (HC)

Addl. Commissioner of Income-tax Vs. Medisetty Ramarao

Court : Andhra Pradesh

Decided on : Dec-26-1975

Reported in : [1977]108ITR318(AP)

..... above returns was completed some time prior to april 1, 1968. later it dawned on the income-tax officer that the assessee had not disclosed the income accruing from the business of exhibition of films. notice under section 147(a) of the income-tax act, 1961 (hereinafter referred to as 'the act'), was issued, and in answer thereto, the assessee filed the revised returns on november 26 ..... , 1969, march 24, 1970, and march 24, 1970, for the respective assessment years mentioned above. in these revised returns, the assessee included the income which accrued to him from the picture house ..... the relevant date to be taken into account for the purpose of levying the quantum of penalty as it stood in the act on that date, and not the date of completion of assessment, and the satisfaction of the income-tax officer or the appellate assistant commissioner. the reference is, therefore, answered against the revenue and in favour of the assessee, with costs ..... , was more than rs. 1,000 for each assessment year, he referred the penalty proceedings under section 271(1)(c) of the act to the inspecting assistant commissioner of income-tax who by his separate orders dated march 22, 1973, for each oi the assessment years, levied a minimum penalty of rs. 1,810 yer year. the reason assigned by the .....

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Dec 26 1975 (HC)

Additional Commissioner of Income-tax Vs. Rajkamal Hotel and Bar

Court : Andhra Pradesh

Decided on : Dec-26-1975

Reported in : [1977]107ITR737(AP)

..... conformity with what is submitted by the learned advocate for the revenue. but it is to be noted that the income-tax act is a special act and there are principles which specifically regulate the proceedings under the income-tax act; therefore, the special principles applicable to the income-tax act would override the general principles.6. in karimtharuvi tea estate ltd. v. state of kerala : [1966]60itr262(sc) ..... has referred the following question for our consideration:'whether, on the facts and in the circumstances of the case, the penalties levied by the income-tax officer on march 4, 1972, under section 271(1)(a) of the income-tax act, 1961, for the assessment years 1966-67 and 1967-68 were barred by limitation ?'2. the facts giving rise to this reference ..... a limit of time within which penalty proceedings must be completed.9. in j. p. jani, income-tax officer v. induprasad devshanker bhatt : [1969]72itr595(sc) the supreme court held that the income-tax officer cannot issue a notice under section 148 of the income-tax act, 1961, in order to reopen the assessment of an assessee in a case where the right to ..... respectively. but the assessee-firm filed the returns for both the assessment years on october 29, 1969. the income-tax officer completed the assessments but initiated penalty proceedings under section 271(1)(a) of the income-tax act, 1961, hereinafter referred to as the act, for the default on the part of the assessee in not filing the returns within the time allowed by .....

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Dec 26 1975 (HC)

Commissioner of Income-tax, Gujarat Iii Vs. Ambika Mills Ltd.

Court : Gujarat

Decided on : Dec-26-1975

Reported in : [1976]104ITR669(Guj)

..... admissible as a deduction under section 10(2)(xv) of the indian income-tax act, 1922, equivalent to section 37(1) of the income-tax act, 1961, it is not necessary that the primary motive in incurring it must be directly to earn income thereby. 10. in the present case it cannot be dispute that if ..... followed by the court in matters like the present has been laid down by the supreme court in sree meenakshi mills ltd. v. commissioner of income-tax. the supreme court there held that the deductibility of expenditure incurred in prosecuting a civil proceeding depends upon the nature and purpose of the legal ..... of lal mills was vacated; and (c) release of the charge of land, buildings, plant and machinery of lal mill in favour of government for income-tax dues was obtained. 6. this was the arrangement in pursuance of which the debenture trust deed for rs. 25 lakhs was executed on december 3, ..... has been canvassed before the departmental authorities, before the tribunal and also before us is whether amount was revenue expenditure or capital expenditure. the income-tax officer held that this amount was spent as capital expenditure as in his view the liquidation proceedings had been initiated with a view to acquire ..... proceedings. that sum of rs. 11,750 by way of expenditure by the assessee so far as assessment year 1956-57 was concerned. the income-tax officer had disallowed that amount of rs. 11,750 by way of expenditure but the matter was taken in appeal and the appellate assistant commissioner .....

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Dec 26 1975 (HC)

Commissioner of Income-tax, Gujarat Ii Vs. Amul Transmission Line Hard ...

Court : Gujarat

Decided on : Dec-26-1975

Reported in : [1976]104ITR771(Guj)

..... , j.1. the question involved in this reference is whether at the time of giving effect to the provisions contained in section 80-i of the income-tax act, 1961 (which is hereinafter referred to as 'the act'), deduction of 8% should be made before setting off carried forward losses, carried forward depreciation and carried forward development rebate or after setting off all these ..... be given only on that component of profits and gains from business of the specified industry which is obtained after computing total income 'in accordance with the other provisions of the act.' in i.t.r. no. 115/74 (commissioner of income-tax v. cambay electric supply industrial co., ltd.), we have discussed this aspect of the matter at great length and we have ..... gains of business'. as we have already pointed out in our judgment in i.t.r. no. 115/74 (commissioner of income-tax v. cambay electric supply industrial co. ltd.), the computation of total income in accordance with the provisions of the act is a condition precedent to allowing the deduction of 8% in case of a 'priority industry.' under these circumstances, even so ..... rs. 1,01,492. now for the purpose of working out 8% deduction contemplated by section 80-i of the act, the income-tax officer first deducted the above referred total carried forward amount of rs. 1,01,492 from the total income of the assessee and then deducted 8% deduction contemplated by section 80-i. the stand of the assessee-company is that .....

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Dec 24 1975 (HC)

Commissioner of Income-tax, Gujarat Ii Vs. Cambay Electric Supply Indu ...

Court : Gujarat

Decided on : Dec-24-1975

Reported in : [1976]104ITR744(Guj)

..... . 3,500 distributed by the liquidator of the company and received by the assessee as a shareholder, was 'dividend' within the meaning of section 2(6a)(c) of the indian income-tax act, 1922 while considering this question, the court construed the true character of the receipt of rs. 1,570 which was described as 'deemed profit' under section 10(2)(vii) and ..... , in which the tribunal has referred the following two questions for our opinion : '(1) whether the tribunal was correct in holding that the profits under section 41(2) of the income-tax act, 1961, arising from the sale of machinery and bulidings, amounting to rs. 7,55,807 should be taken into account while computing the deduction at 8% under section 80e(1 ..... . this reference raises some interesting, though some what complicated, questions regarding the mode in which and the fund from which deduction of 8% contemplated by section 80e(1) of the income-tax act, 1961 (as it stood at the relevant time), should be calculated. 2. short facts of the case are that the respondent-assessee is an electric supply company working at compay ..... ,658. thus, the total of this unabsorbed depreciation and development rebate came to rs. 4,83,343. 7. the additional commissioner of income-tax having come to know about this assessment took action contemplated by section 263 of the act and called for and examined the record and proceedings, after giving to the assessee an opportunity to show cause why the assessment carried .....

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Dec 24 1975 (HC)

V.L. Dutt Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-24-1975

Reported in : [1976]103ITR634(Mad)

..... were spent by the. assessee wholly and exclusively for the purpose of its business. in purported exercise of its power under section 66(4) of the indian income-tax act, 1922, the high court called upon the tribunal to submit another statement of case on certain other questions which had not been raised in the application for reference ..... be established.16. there was a provision similar to section 271(1)(a) in section 28 of the indian income-tax act, 1922. the scope of that provision came up for cosideration before this court in v. ramanathan v. commissioner of income-tax : [1966]62itr293(mad) . in that case a best judgment assessment had been made for failure to ..... remuneration derived from the company. for the assessment year 1964-65 the return was due under a notice under section 139(2) of the income-tax act, 1961, on 11th july, 1964. the return was filed only on 27th december, 1965, i.e., nearly 18 months after the date when it was ..... proceedings as civil proceedings.28. to sum up: we consider that the decision in hindustan steel is applicable to the penalty proceedings under the income-tax act of 1961. the penalty under section 271(1)(a) will not ordinarily be imposed unless the party obliged, either ..... was made out.'19. the supreme court itself referred to this decision in considering the levy of penalty under section 28(l)(c) of the act of 1922 in commissioner of income-tax v. anwar ali, : [1970]76itr696(sc) as follows:'it appears to have been taken as settled by now in the sales .....

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Dec 24 1975 (HC)

Dhunseri Tea and Industries Ltd. Vs. the Hanuman Estates Private Ltd.

Court : Kolkata

Decided on : Dec-24-1975

Reported in : AIR1976Cal328

..... dhanuka industries pvt. ltd. ((1975) 79 cal wn 88) in our view rightly points out that the notice under section 226(3) of the income-tax act at the most prohibited the petitioner from making any payment to the opposite party but it did not or could not have the effect overriding the provisions ..... decision in the case of v.n. vasudeva v. kiroi mal : [1964]6scr181 and contended that the notice under section 226(3) of the income-tax act amounted to a garnishee order and the petitioner could not so long as the notice stood make any payment whatsoever to the landlord. the said decision, ..... legislation and interpretation at page 311, article 11.6, 2nd edition, 1974. we have already pointed out that the provision of section 226 of the income-tax act is not a special provision and the same is applicable to all assessees and in all circumstances mentioned in the said section. consequently, this rule ..... . in the first place, it has been contended that the tenant defendant having been served with a notice under section 226(3) of the income-tax act, 1961 and having paid whatever arrear rent was due from him on account of the assessee plaintiff, would be deemed to have completely discharged his ..... discharged their liability in so far as the opposite party's claim is concerned, pursuant to a notice issued by the income-tax authorities under section 226(3) of the income-tax act, 1961. the learned chief judge on a consideration of the materials placed before him came to the conclusion that the petitioners .....

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Dec 24 1975 (HC)

Duncan Brothers and Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-24-1975

Reported in : [1978]111ITR885(Cal)

..... been allowed as a deduction in computing the income of the company for the purposes of the indian income-tax act, 1922 (11 of 1922), or the income-tax act, 1961 (43 of 1961); (iv) its debentures, if any; and (v) any moneys borrowed by it ..... any, created under the proviso (b) to clause (vib) of sub-section (2) of section 10 of the indian income-tax act, 1922 (11 of 1922), or under sub-section (3) of section 34 of the income-tax act, 1961 (43 of 1961); (iii) its other reserves as reduced by the amounts credited to such reserves as have ..... created under the proviso (b) to clause (vib) of sub-section (2) of section 10 of the indian income-tax act, 1922 (11 of 1922), or under sub-section (3) of section 34 of the income-tax act, 1961 (43 of 1961), and of its other reserves in so far as the amounts credited to such other ..... have not been allowed in computing its profits for the purposes of the indian income-tax act, 1922 (11 of 1922), or the income-tax act, 1961 (43 of 1961), diminished by the amount by which the cost to it of the assets the income from which in accordance with clause (iii) or clause (vi) or clause ..... (profits) surtax are leviable on what is known as 'chargeable profits' of a company. this chargeable profit is generally the income of a company as assessed under the income-tax act, 1961, subject to certain adjustments and deductions as provided in the said statute. one of the items of adjustment is a .....

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Dec 23 1975 (HC)

Commissioner of Income-tax, Gujarat-i Vs. Rashmi Trading

Court : Gujarat

Decided on : Dec-23-1975

Reported in : [1976]103ITR312(Guj)

..... assessee as of the date of accrual of the benefit. 5. we may point out that sampath iyengar in his commentary on income-tax act, sixth edition, section volume, at page 1077, has observed in connection with section 41(1) as follows : 'the words ..... rs. 42,945 should be included. the income-tax officer relied upon section 41(1) of the income-tax act, 1961, for the purpose of holding that the amount should be included in the income for the assessment year 1966-67. against the decision of the income-tax officer, the assessee went in appeal before the ..... appellate assistant commissioner. the appellate assistant commissioner relied upon the decision of the allahabad high court in jagatnarain durga prasad v. commissioner of income-tax ..... 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 ..... 6. we find that in commissioner of income-tax v. lakshmamma, hegde j., as he then was, in the mysore high court, has observed regarding section 10(2a) of the act of 1922 which was equivalent to section 41(1) of the present act as follows : 'it is true that in .....

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