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Judgment Search Results Home > Cases Phrase: income tax act Year: 1964 Page 1 of about 603 results (0.079 seconds)

Apr 21 1964 (HC)

New Era Agencies Private Ltd. Vs. Commissioner of Income-tax, Bombay C ...

Court : Mumbai

Decided on : Apr-21-1964

Reported in : [1964]54ITR518(Bom)

..... rs. 2,34,231 was the income of the assessee ?' 3. in the application made by the assessee requesting the tribunal to make a reference under ..... department, set aside the order of the appellate assistant commissioner and restored that of the income-tax officer. thereafter, at the instance of the assessee it drew up a statement of the case and referred to this court the following question under section 66(1) of the indian income-tax act. 'whether on the facts and in the circumstances of the case the sum of ..... for the parting of the controlling interest. mr. palkhivala, on behalf of the assessee, invited out attention to decisions in commissioner of income-tax v. ramnarain sons ltd, puranmal radhakishan & company v. commissioner of income-tax and baijnath chaturbhuj v. commissioner of income-tax, in support of his submission that whenever a composite price is received for the sale of shares together with other valuable rights ..... to the record. the findings of the appellate assistant commissioner that the sale was motivated by the illness of mulraj kersondas was equally erroneous, because as pointed out by the income-tax tribunal, mulraj mersondas was not suffering from any illness and was actively engaged in business not only at the material time but even prior and subsequent thereto. it will, .....

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Nov 09 1964 (SC)

Commissioner of Income-tax, Madras Vs. M.K. Stremann, Madras

Court : Supreme Court of India

Decided on : Nov-09-1964

Reported in : AIR1965SC1494; [1965]56ITR62(SC); [1965]2SCR106

..... transfer of assets to the three minor children aforesaid so as to attractthe provisions of section 16(3)(a)(iv) of the income-tax act 3. if the answer to the firstquestion is in the negative, the income tax officer having rejected the claimof partition under section 25a and the assessee not having independentlyappealed against such decision, whether the assessee is ..... the admitted individual investing his self-acquired properties with thecharacter of joint family property referred to in the judgment in : [1955]28itr352(mad) (r. subramania ayyar v. commissioner of income-tax) '. 8. accordingly, it held that the partition deed came within the ambit ofsection 16. as stated above, the appellate tribunal referred three questions tothe high court. the high ..... be made by the assessee thatthe commission business was ancestral business in his hands, but the appellateassistant commissioner did not accede to this contention. he further held thatthe income tax officer was justified in ignoring the partition deed. 7. the appellate tribunal held that there was no evidence that all assetsand liabilities including the agency business were transferred ..... the assessee was employed as an assistant by the saidcompany. kulandavelu died on july 27, 1938, leaving a house property at ayalurmuthiah mudali street, a few insurance policies and income-tax refunds due to him.the assessee realised a total amount of rs. 26,600/- from these and with theseproceeds he purchased a house at no. 3, varadarajulu naidu .....

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Sep 21 1964 (SC)

Chhabildas Tribhuvandas Shah and ors. Vs. Commissioner of Income-tax, ...

Court : Supreme Court of India

Decided on : Sep-21-1964

Reported in : [1966]59ITR733(SC)

..... and did not give rise to any question of law. 8. the assessee applied to the high court, under section 66(2) of the indian income-tax act, but the high court, by its order dated october 3, 1961, dismissed the petition. this court, however, granted special leave to appeal and the ..... business and the availability of imported materials the margin taken by the income-tax officer seems to be quite reasonable.' 6. the assessee applied for a statement of the case to the income-tax appellate tribunal, under section, 66(1) of the indian income-tax act. 7. the appellate tribunal, by its order dated december 19, ..... the previous years were not adequate reasons for the income-tax officer to reject the total profits returned by the company. it observed that the 'economic blizzard' which affected trade in the year under review ..... of the proviso. in this connection, he placed reliance on the decision of the lahore high court in pioneer sports ltd. v. commissioner of income-tax. in that case, the lahore high court, held that the absence of a stock register and the lowness of the profits disclosed in comparison with ..... the tribunal, that the proviso to section 13 was clearly applicable to the trading results in this case, and resorting the addition made by the income-tax officer to the extent of rs. 70,510 is an order made without due consideration of the evidence and relevant materials on record and after .....

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Oct 14 1964 (HC)

Vahiwatdars of Ambaji Temple Vs. Commissioner of Income-tax, Gujarat

Court : Gujarat

Decided on : Oct-14-1964

Reported in : [1965]58ITR675(Guj)

..... to the deity collected by them. the point which arises under these questions is whether the assessees constitute an association of persons within the meaning of section 3 of the income-tax act, 1922, so as to be liable to be assessed as such in respect of the offerings to the deity collected by them or whether each of the assessee is liable ..... her share of those offerings. now, what constitutes an association of persons within the meaning of section 3 of the income-tax act, 1922, is no longer open to controversy and is settled by the decision of the supreme court in commissioner of income-tax v. indira balkrishna. the supreme court in that case, after referring to three decisions, two of the high court of ..... they were entitled. the ladies were also given their share of the offering even though they did not attend the temple on the festival days. 3. on these facts, the income-tax officer held that the assessees were liable to be assessed as an association of persons in respect of the offerings to the deity collected by them and since there were ..... find that the assessees joined in a common purpose and common enterprise with a view to earning income, the case would be more akin to that in commissioner of income-tax v. laxmidas devidas, a decision which was approved by the supreme court in commissioner of income-tax v. indira balkrishna. we are therefore of the view that the assessees constituted an association of persons .....

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Oct 08 1964 (HC)

Dhrangadhra Trading Co. Private Ltd. Vs. Commissioner of Income-tax, B ...

Court : Gujarat

Decided on : Oct-08-1964

Reported in : [1964]54ITR37(Guj)

..... dhrangadhra. the assessee being a non-resident company, its liability to british indian tax depended upon its of income within british indian under section 4(1)(a) of the income-tax act 1922. according to the assessee on part of its income was received in the british indian and the assessee, 1922. the income-tax officer, surendranagar, was however, prima facie of the opinion that the sale ..... in section 64(3), it could not be entertained by him. the jurisdiction of the income-tax officer to act under section 34(1)(a) was also challenged but that was also negatived by the income-tax officer. the income-tax officer accordingly made an assessment on the assessee bringing to tax the profit of rs. 1,56,808 embedded in the sale proceeds received from british ..... bhagwati, j.1. this reference arises out of proceedings for the assessment to income-tax of the assessee for the assessment year 1948-49. the assessee is private limited registered under the dhrangadhra state companies act, 1939, and carries on business as an authorized dealer of the products of dhrangadhra chemical works limited at dhrangadhra. during the relevant period dhrangadhra was a ..... by it during the year of account. the income-tax officer on this material came to the conclusion that the sale proceeds were sent by british indian buyers to the assessee by cheques and demand drafts through post pursuant to an express or implied request from the assessee and the post office, therefore, acted as agent of the assessee in the matter .....

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Aug 19 1964 (HC)

Jansatta Karyalaya Vs. Commissioner of Income-tax, Gujrat

Court : Gujarat

Decided on : Aug-19-1964

Reported in : (1965)0GLR108

..... machine in the first year of its business by the assessee-firm is revenue expenditure allowable as a deduction under section 10(2)(xv) of the income-tax act, 1922. under clause (xv) of section 10(2), what is allowed as deduction 'any expenditure not being an allowance of the nature described in ..... be seen whether the expenditure incurred was part of its circulating capital. the supreme court in assam bengal cement co. ltd. v. commissioner of income-tax approved of the synthesis attempted by the lahore high corut from the various decisons and also approved the three principles enuciated by it as emerging ..... circulating capital was not accepted by lord macmillan in van den berghs ltd., v. clark in tata hydor-electric agencies limited v. commissioner of income-tax, the privy council observed that what was money wholly and exclusively laid out for the purposes of the trade was a question which must be ..... to be treated as an excpenditure which is of a revenue nature and replacements therefrom should be allowed. this position has been accepted by the income-tax officer for the later years. in so far as this year is concerned as no replacement have been met from the types. i consider ..... , the purchase of these types would be initial or capital expenditure. on appeal, the appellate assistant commissioner disagreed with the view taken by the income-tax officer that these types formed part and parcel of the printing machinery, and observed : 'the point as to whether this was a capital expenditure .....

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Aug 22 1964 (HC)

H.H. Digverendrasinhji of Bansda Vs. Commissioner of Income-tax, Gujar ...

Court : Gujarat

Decided on : Aug-22-1964

Reported in : (1964)10GLR1002; [1965]55ITR580(Guj)

..... operations carried out by the assessee with reference to the lands in question constitute agriculture operations, making the sale proceeds agricultural income as defined by section 2(1) and being exempt form income-tax under section 4(3) (viii) of the income-tax act of 1922.' 2. the assessee is the present ruler of the former state of bansda which merged in the dominion of ..... the lands from which the said income is derived were not only not assessed to the land revenue in the taxable territories and not subjected to a local rate assessed and ..... agricultural income. the income-tax officer rejected both these contentions and added this amount to the total income of the assessee. while negativing these two contentions, the income-tax officer remarked as follows : 'besides, the income from the sale of forest and forest produce of spontaneous growth worked out above is clearly not agricultural income within the meaning of section 2(1) of the income-tax act as ..... no reduction or loss to any capital asset and hence, the sales in question were not capital receipts.' 4. the assessee filed an appeal against the order of the income-tax officer before the appellate assistant commissioner, and while the appeal was pending, he filed an affidavit of one bhalchandra hariprasad upadhyaya, who was in the service of the bansda .....

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Aug 19 1964 (HC)

Jansatta Karyalaya Vs. Commissioner of Income-tax, Gujarat, Ahmedabad

Court : Gujarat

Decided on : Aug-19-1964

Reported in : AIR1965Guj234; [1964]54ITR792(Guj)

..... machine in the first year of its business by the assessee firm is a revenue expenditure allowable as a deduction under s.10 (2) (xv) of the income-tax act, 1922. under clause (xv) of s.10 (2) what is allowed as a deduction is, 'any expenditure not being an allowance of the nature of ..... treated as an expenditure which is of a revenue nature and replacements has been accepted by the income-tax officer for the later years. in so far as this year is concerned, as no replacements have been met from the types, i consider that the ..... to use the printing machinery, but it cannot be said that it was a part of the printing machinery. i therefore, do not agree with the income-tax officer that the purchase of the types was a capital expenditure as a part of and parcel of the printing machinery. normally, types are to be ..... the business, the purchase of these types would be initial or capitol expenditure. on appeal, the assistant appellate commissioner disagreed with the view taken by the income-tax officer that these types formed part and parcel of the printing machinery, and observed: 'the point as to whether this was a capital expenditure or not ..... rs. 1058/- out of the said amount, so that the controversy in this reference is for the balance of rs. 21,741/- only.(3) the income-tax officer negatived the contention urged by the assessee firm on the ground that these types formed part and parcel of the printing machinery and that ass the expenditure .....

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Aug 21 1964 (HC)

Digverendrasinhji I. Solanki Vs. the Commissioner of Income-tax, Bomba ...

Court : Gujarat

Decided on : Aug-21-1964

Reported in : AIR1965Guj243

..... operations carried out by the assessee with reference to the lands in question constitute agricultural operations, making the sale proceeds agricultural income as defined by s. 2(1) and being exempt from income-tax under s.4(3)(viii) 0f the income-tax act of 1922.(2) the assessee is the present ruler of the former state of bansda which merged in the dominion of ..... from which the said income is derived were not only not assessed to the land revenue in the taxable territories and not subjected to a local rate assessed and collected by the ..... /- was agricultural income. the income-tax officer rejected both these contentions and added this amount to the total income of the assessee. while negativing these two contentions, the income-tax officer remarked as follows:'besides, the income from sale of forest and forest produce of spontaneous growth worked out above is clearly not agricultural income within the meaning of s.2 (1) of the income-tax act as the lands ..... there was no reduction or loss to any capital assert and hence the sales in question were not capital receipts'.the assessee filed an appeal against the order of the income-tax officer before the appellate assistant commissioner, and while the appeal was pending, he filed an affidavit of one bhalchandra hariprasad upadhyay, who in the service of the bansda state .....

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Mar 08 1964 (HC)

Commissioner of Income-tax, Nagpur Vs. Hirani Construction Co.

Court : Mumbai

Decided on : Mar-08-1964

Reported in : [1966]60ITR599(Bom)

..... venture with one d, an individual. there was a partnership deed in regard to that venture but it was not registered under section 26a of the income-tax act, 1922. the assessee-firm claimed in the relevant year deduction of rs. 1,05,641, being half the share of loss in the joint venture. ..... rs. 25,000 to be contributed equally by the five partners. the five partners shared equally in the profit and loss. this firm was registered under the income-tax act. now, there was another concern which was a private limited company doing the same business under the name and style of messrs. manoharsingh sethi and co. ..... the assessee's share of loss and allow it accordingly.' 7. the commissioner, on an application made under section 66(1) of the income-tax act, appealed to the tribunal, and the tribunal has referred to us the following two questions after reframing them : '(1) whether for the purpose ..... a reference under section 66(1) if the income-tax act, 1922, at the instance of the commissioner. the question referred to us, in our opinion, will have to be answered in favour of the revenue having regard to the decision of the supreme court in commissioner of income-tax v. jadavji narsidas & co. we are here ..... not do so as a firm. this has held by this court in dulichand laxminarayan v. commissioner of income-tax. there was thus a partnership between damji and the four members of the assessee-firm acting for themselves and indeed the deed which has been produced in this case shows as much. in the .....

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