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Judgment Search Results Home > Cases Phrase: income tax act Year: 1965 Page 1 of about 641 results (0.115 seconds)

Feb 19 1965 (HC)

Joharimal Ramlal Vs. Commissioner of Income-tax, Bombay

Court : Mumbai

Decided on : Feb-19-1965

Reported in : [1967]64ITR437(Bom)

..... . in compliance with the requisition of this court, the tribunal has stated the case under sub-section (2) of section 66 of the income-tax act on the following two question : '(1) whether, on the facts and in the circumstances of the case, the customs rebate amounting to ..... . 12. similar also are the facts in the other decision in k. p. s. v. rajarathina nadar and sons v. commissioner of income-tax/excess profits tax, on which reliance was placed by mr. palkhivala. the amount relating to which the dispute arose was in the first instance showed in the ..... the unclaimed balances, when first received, were obviously liabilities, no subsequent operation could turn them into trading receipts. they were not, therefore, assessable to income-tax.' now on the finding of the tribunal in the instant case, receipt of these rebate amounts in the first instance, at the time they were received ..... morley v. tattersal. the appellate assistant commissioner also rejected the claim of the assessee and dismissed the appeals. further appeals were taken to the income-tax appellate tribunal. on the material placed before it, the tribunal took the view that the real arrangement between the mills and the assessee was ..... the assessee had filed certain contracts which, according to it, it had entered into at the time. in the form of contracts produced before the income-tax officer, there appeared a foot-note to the following effect : 'imported cotton duty refunded to the exporter will be recovered by the mills' or .....

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Sep 08 1965 (HC)

Nyalchand Malukchand Dagli Vs. Commissioner of Income-tax, Gujarat

Court : Gujarat

Decided on : Sep-08-1965

Reported in : [1966]62ITR102(Guj)

..... same envelope along with this notice another notice of the same date headed 'notice under sections 22(2) and 38 of the indian income-tax act, 1922' and this latter notice in express terms related to the assessment year 1950-51. though the assessment was called upon to file a return ..... to the validity of a notice issued by the income-tax officer under section 34(1) (a) of the income-tax act, 1922. in order to appreciate the question, it is necessary to notice briefly the facts giving rise to the reference. on 9th march, 1959, the income-tax officer issued a notice under section 34(1) ( ..... a) to the assessee reciting : 'whereas i have reason to believe that your income assessable to income-tax for the ..... the validity of the proceedings of an invalid notice would be illegal and void (see the decision of the supreme court in narayana chetty v. income-tax officer nellore). the question which, therefore, arises is whether the notice issued in the present case was a valid notice under section 34(1). now ..... 1949-50, whereas the assessment that was sought to be reopened was for the assessment year 1950-51, but the contention was negatived by the income-tax officer who held that the notice under section 34(1) (a) was for the assessment year 1950-51. the assessee carried the matter in .....

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Mar 31 1965 (HC)

Ganeshi Lal Bansi Dhar Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Mar-31-1965

Reported in : AIR1966All405; [1966]59ITR321(All)

..... branch. the assessee has been uniformly treated as a resident in the taxable territories within the meaning of section 4-a of the income-tax act, 1922, and has been assessed upon profits accruing or arising to it in the nepal branch, apparently under section 4 (1) ..... nepal branch and assessable to tax in terms of section 4 (1) (b) (iii) of the act?'4. section 4 (1) of the income-tax act, 1922, categorises the various cases where income, profits and gains form part of the total income of a person. income, profits and gains may be ..... received or be deemed to be received, or they may accrue or arise or be deemed to accrue or arise. clause (a) deals with income ..... , profits and gains which are received or are deemed to be received. such income ..... money is received in the taxable territories from without the remittance is out of profits: mayyappa chettiar v. commr. of income-tax. : [1933]1itr37(mad) ; commr. of income-tax v. r.m. raja : [1957]31itr217(bom) . the assessee urges that there is an overriding presumption, namely .....

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Apr 15 1965 (SC)

Commissioner of Income-tax, U.P. Lucknow Vs. the Maheshwari Devi Jute ...

Court : Supreme Court of India

Decided on : Apr-15-1965

Reported in : AIR1965SC1974; [1965]57ITR36(SC); [1965]3SCR765

..... 1,85,230/- in the assessment years 1949-50 and 1950-51 respectively were revenue receipts liable to tax under the indian income-tax act ?' 4. the high court answered the question in the negative. the commissioner of income-tax has preferred these appeals with certificate granted by the high court under s. 66-a(2) of ..... the indian income-tax act. 5. the tribunal held that the receipts in question were not capital receipts, nor were they of a casual ..... or non-recurring nature. the plea of the respondent that the receipts for sale of loom-hours are not chargeable to tax because they are, within the ..... member to work its factory for such 'loom-hours' as were transferred to it by another member of the association. in the proceedings before the income-tax authorities, the tribunal and the high court, these 'loom-hours' have been regarded as an asset belong to each member and in considering these appeals ..... business results in capital receipt. 9. our attention was invited to a judgment of the allahabad high court in maheshwari devi jute mills v. commissioner of income-tax, u.p. lucknow [i.t. misc. case no. 177 of 1960 decided on september 13, 1962] in which a division bench of the .....

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Mar 24 1965 (SC)

J.P. Shrivastava and Sons (Bhopal) Private Ltd. Vs. Commissioner of In ...

Court : Supreme Court of India

Decided on : Mar-24-1965

Reported in : [1965]57ITR624(SC)

..... commission accrued to it as per the managing agency agreement. having obtained concurrence of the inspecting assistant commissioner he held that section 23a of the income-tax act applied and based an order that the remaining profits of rs. 25,037 be deemed to have been declared as dividend among shareholders. he ..... to have been distributed as dividend as at the date of the general meeting, i.e., june 30,1950. 8. the income-tax officer filed two appeals before the income-tax tribunal. the appellate tribunal held that in spite of the provision in the agency agreement, it was not correct to say that ..... agency commission. but the question which we have to consider is whether managing agency commission due in the accounting period becomes 'accounting profits' because an income-tax officer erroneously treats it in the assessment order to be due in that period. it seems to us that the answer is plainly in the negative ..... 31, 1953,4. as far as the managed company was concerned, this amount was debited in its accounts and allowed as expenses by the income-tax officer for the previous year ending year march 31, 1953.5. the assessee-company appears to have accepted this position and not filed any ..... 1952- 53, and the assessing authority allowed it as an expense for that year. the assessee-company however, claimed before the income-tax officer assessing its own income that the commission did not accrue to then during the accounting year 1951-52 as the requisite resolution was not passed during the .....

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Sep 06 1965 (HC)

Commissioner of Income-tax, Gujarat Vs. L.A. Patel

Court : Gujarat

Decided on : Sep-06-1965

Reported in : [1966]60ITR685(Guj)

..... bhagwati, j.1. this reference arises out of an assessment made on the assessee as an individual under section 34(1)(a) of the income-tax act, 1922. this reference related to the assessment year 1946-47, the relevant account year being the financial year ending 31st march, 1946. ..... december, 1954. in after deducting a loss of rs. 4,223 in speculation from the salary of rs. 5,326 and dividend income of rs. 147. the income-tax officer did not act on this return and, ignoring it, issued a notice under section 34(1)(a) against the assessee for the assessment year 1946-47 ..... we find that the first question is not properly framed and we would reframe it in the following manner : '(1) whether the income-tax officer was bound to act on the return filed by the assessee on december 20, 1954, for the assessment year 1946-47 under section 22(3) of the ..... the assessee thereupon preferred an appeal to the tribunal. the tribunal, relying upon the decision of the high court of bombay in ranchhoddas karsondas v. commissioner of income-tax, took the view that the submission of voluntary return by the assessee precluded action under section 34(1)(a) and the tribunal, accordingly, set aside the ..... and the notice was served on the assessee on 22nd march, 1955. the assessee disputed the validity of the notice on the ground, inter alia, that the income-tax .....

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Dec 22 1965 (HC)

Maharaja Chintamani Saran Nath Sah Deo Vs. the Commissioner of Income- ...

Court : Patna

Decided on : Dec-22-1965

..... facts and circumstances of this case, the tribunal was right in holding that the sum of rs. 2,20,000 was the income of the assessee assessable to tax under the provisions of the income-tax act ?"the original assessee was maharaja pratap udai nath sah deo, the holder of an impartible estate. by an indenture of lease ..... province of bihar v. maharaja pratap udai nath sahi deo kamakshya narain singh v. commissioner of income-tax, member for the board of agricultural income-tax v. sindhurani chaudhurani, chintamani saran nath sah deo v. commissioner of income-tax and commissioner of income-tax v. panbari tea co. ltd.the principle of law laid down by a special bench of ..... was, in substance, an advance payment of royalty. accordingly, the tribunal set aside the order of the appellate assistant commissioner and restored the order of the income-tax officer. at the instance of the assessee, the present reference has been made by the appellate tribunal.mr. k. b. n. singh, appearing on behalf ..... premium and a lower rate in respect of royalty, the premium or salami represented advance payment of royalty which was a revenue receipt and assessable to income-tax as such.on appeal, the appellate assistant commissioner held that the sum of rs. 2,20,000 which represented the salami was a capital receipt and ..... g. n. prasad, j. - under section 66(1) of the income-tax act, 1922, the appellate tribunal, patna bench, has drawn up a statement of the case and formulated the following question of law for .....

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Mar 03 1965 (HC)

R.R. Khandelwal Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Decided on : Mar-03-1965

Reported in : [1965]58ITR14(Bom)

..... dividend income was rightly assessed on the basis of the date of declaration of dividend in the previous year irrespective of the date of receipt ..... was not open to the income-tax officer to exclude it in the assessment under section 34. on this view, the tribunal dismissed the appeal. on an application made by the assessee, the tribunal has referred to us the following three question : '(1) whether the proceedings initiated by the income-tax officer under section 34(1)(b) of the income-tax act are vali (2) whether the ..... . this is a reference under section 66(1) of the indian income-tax act at the instance of the assessee. we are here concerned with the assessment year 1953-54, the relevant accounting period being october 31, 1951, to october 18, 1952. the assessee has been taxed in the status as an individual. the assessee derives income from dividends on shares. the assessee has been ..... and has been filing returns on the basis of receipts. this system of accounting has been accepted by the income-tax officer and has not been found to be one not disclosing the true state of affairs under section 13 of the act. the income-tax officer, therefore, was not competent to include it in the assessment year 1953-54. relying on the decision of .....

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Mar 02 1965 (HC)

Chiranjilal Tibrewala Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Decided on : Mar-02-1965

Reported in : [1966]59ITR42(Bom)

..... under section 22(4), was explained by the assessee, the best judgment assessment order was liable to set aside under the provisions of section 27 of the indian income-tax act. in the appeals before the income-tax appellate tribunal, the only contention, which appears to have been urged, was whether the appellate assistant commissioner was right in taking the view that if the assessee ..... judgment assessment of chiranjilal, a partner of the firm, who had also failed to comply with the notices issued to him under sections 22(2) and 22(4) of the income-tax act. the income-tax officer also made an order under section 28 imposing a penalty on chiranjilal. applications under section 27 were made by the firm and chiranjilal to the ..... to cancel the said assessment and proceed to make a fresh assessment in accordance with the provisions of section 23 as provided in section 27 of the income-tax act ?' 2. a notice of motion has been taken out by the assessee requesting that the question referred to this court by the tribunal may be reframed and some more material ..... never asked for the time for the late submission of its return of income. under section 22(3) of the indian income-tax act, an assessee is enabled to submit a return or to revise the return submitted by him at any time until actually an assessment is made by the income-tax officer. a notice under section 22(4) is not a notice calling for .....

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Feb 24 1965 (HC)

K.H. Valia Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Decided on : Feb-24-1965

Reported in : [1966]59ITR625(Bom)

..... the assessee, it has drawn 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, in the absence of sauda vahi the assessee is entitled to claim a deduction of the loss of rs. 13,849 sustained by it ..... the loss should have been disallowed and for this contention reliance was placed on jamna das rameshwar das v. commissioner of income-tax and mahasukh ram madanlal v. commissioner of income-tax. the tribunal was of the opinion that the failure on the part of the assessee to maintain a sauda vahi or ..... assistant commissioner, after receiving the remand report, heard and decided the appeal in favour of the assessee. he held that the reasons which the income-tax officer had given for coming to the conclusion that the loss was not genuine were not good and sound and the loss, therefore, was properly ..... unfamiliar to him because he was a partner in national traders, which was doing speculative business in castor seeds. in the remand report, the income-tax officer in supplementing the reasons which he had already given in his original order indicated a further ground for supporting his order by saying that ..... was a circumstance which aroused suspicion about its genuine character. in the appeal, which the assessee filed against the decision and order of the income-tax officer, the appellate assistant commissioner remanded the case and called for a remand report because he was of the opinion that it was necessary to .....

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