Court : Mumbai
Decided on : Apr-18-1966
Reported in : 61ITR493(Bom)
..... or the department in a subsequent year. but this rule is subject to limitations, for there should be finality and certainty in all litigations including litigation arising out of the income-tax act and an earlier decision on the same question cannot be reopened if that decision is not arbitrary or perverse, if it had been arrived at after due inquiry, if no ..... facts are finally found by the tribunal that the matter would be coming before this court in a reference in accordance with the procedure which has been prescribed by the income-tax act. we have at this stage to see whether the matter is abundantly clear one way or the other. 12. the expression 'mineral oil' has not been defined anywhere in the ..... rate or rates specified in the third schedule.' 'chargeable profits' has been defined by sub-section (5) of section 2 as follows : ''chargeable profits' means the total income of an assessee computed under the income-tax act, 1961 (43 of 1961), for any previous year or years, as the case may be, and adjusted in accordance with the provisions of the first schedule.' 9 ..... , the petitioner seeks to get quashed the order of 12th october, 1965, made by the first respondent provisionally assessing the petitioner-company to tax under section 141 of the indian income-tax act (act xliii of 1961), hereinafter referred to as the act, and the notice of demand of the same date issued pursuant thereto as calling upon the petitioner to pay the balance of the .....Tag this Judgment!
Court : Karnataka
Decided on : Oct-10-1966
Reported in : 65ITR146(KAR); 65ITR146(Karn); (1967)1MysLJ215
..... to renewal of registration for the assessment year 1961-62.' 10. the admitted facts of the case are these : the assesses firm was registered under section 26a of the indian income-tax act, 1922, for the assessment year 1960-61. on june 30, 1961, the assessee filed an application for renewal of its registration for the assessment year 1961-62. that application was ..... fact that registration had been granted to the assessee by the appellate assistant commissioner for the assessment year 1960-61, the assessee was entitled under section 184(7) of the income-tax act, 1961, to renewal of registration for the assessment year 1961-62; (ii) that the certificate of the assessee furnished along with its application for renewal of registration was not incorrect ..... the assessee and the departmental representative have agreed to the above statement of the case. 9. this is a reference under section 256(1) of the income-tax act, 1961, to be hereinafter referred to as the 'act'. this reference was made at the instance of the assessee. the question of law referred for the opinion of this court is : 'whether, on the facts ..... several businesses including business in contracts. by an application dated march 31, 1960, the assesses firm applied for registration for the assessment year 1960-61 under section 26a of the income-tax act, 1922, and by another application dated june 30, 1961, it applied for renewal of registration for the assessment year 1961-62 under section 26a of the .....Tag this Judgment!
Court : Gujarat
Decided on : Feb-11-1966
Reported in : 63ITR1(Guj)
..... messrs. shamji kalidas & company were received by the assessee in the taxable territories and the profit embedded in these sale proceeds was, therefore, liable to tax under section 4(1)(a) of the indian income-tax act. the assessee was also charged penal interest under section 18a(8) in the assessment for the assessment year 1948-49, on the view that the assessee ..... had failed to make payment of advance tax under section 18a(3). now the assessment in respect of the assessment years 1947-48 and 1948-49 ..... initiation of proceedings under section 4(1)(a) was, therefore, not satisfied and he accordingly allowed the appeals and set aside the orders of assessment made by the income-tax officer, porbandar. the income-tax officer, porbandar, being aggrieved by this decision, brought appeals before the tribunal. the tribunal took the view that the order of the appellate assistant commissioner in so far ..... the applications under section 27 was clearly erroneous and it accordingly set aside the whole of the order of the appellate assistant commissioner and confirmed the orders of the income-tax officer rejecting the applications under section 27 and remanded the appeals against the original orders of assessment to the appellate assistant commissioner for hearing the merits. the appellate assistant .....Tag this Judgment!
Court : Mumbai
Decided on : Feb-04-1966
Reported in : 61ITR672(Bom)
..... c.j. 1. in compliance with the requisition of this court issued under sub-section (2) of section 66 of the income-tax act, 1922, the tribunal has stated the case on the two questions of law arising out of its judgment. we are here concerned ..... correct position. the correct position was that the assessee had purchased the outstandings at a much lower figure. had the department raised such a contention, the income-tax authorities and the tribunal would have examined the facts,. the department, however, has not chosen to do so. that being the position, in our opinion, ..... the year of account, even though such debts originally belonged to the firm. at page 1055 of the report, after considering the decision in commissioner of income-tax v. appu chettiar, the learned chief justice observed : 'we cannot see how the principles of that decision can at all apply to the present case ..... also has been satisfied. we find support in the three decisions cited by mr. palkhivala for the view taken by us. 12. facts in commissioner of income-tax v. dharmaraja nadar, were : after partition of a joint hindu family, the members carried on the family business in partnership for some years and thereafter ..... debts. the assessee claimed deduction of these two amounts in the respective years as bad debts under section 10(2)(xi). the claim was disallowed by the income-tax officer on two grounds : '(i) according to annexure 'a' (the deed of assignment of 30th january, 1953), aforesaid, bad debts among the debts sought .....Tag this Judgment!
Court : Mumbai
Decided on : Feb-16-1966
Reported in : 62ITR75(Bom)
..... during the year of account. 8. mr. joshi, learned counsel for the revenue, on the other hand, has contended that section 26a of the indian income-tax act confers a benefit of registration, and it has been, time and again, emphasised by the supreme court that in order to be entitled to the said ..... shri g. r. pawar. ever since its formation in the year 1946, or thereabouts, this firm had been granted registration under section 26a of the indian income-tax act up to the assessment year 1955-56. on 3rd february, 1956, that is, some time after the close of the account year with which we are concerned ..... tribunal dismissed the said appeal and, thereafter, at the instance of the assessee, referred the following question to us under section 66(1) of the indian income-tax act, 1922 : 'whether the assessee's appeal against the penalty imposed under section 46(1) was properly rejected by the appellate assistant commissioner as being incompetent ?' ..... instance of the assessee it has referred the following question to us as arising out of its order under section 66(1) of the indian income-tax act, 1922 : 'whether the new firm that was in existence at the time of making of the assessment for the assessment year 1956-57 is ..... change in the constitution of the firm but the case of a dissolution of the firm and the creation of a new firm. both the income-tax officer and the income-tax appellate tribunal have held that on the death of shri r. s. pawar, the firm, as constituted in the year of account, had .....Tag this Judgment!
Court : Karnataka
Decided on : Mar-06-1966
Reported in : 63ITR429(KAR); 63ITR429(Karn)
..... . this reference, sought by the commissioner of income-tax, under section 66(1) of the indian income-tax act, 1922, has for its source an assessment for the assessment year 1960-61. the assessee is rangappa setty who unsuccessfully made several attempts during the earlier period to have an assessment made on the basis that the income was the income of a hindu joint family. 2. it ..... such partnership at any time antecedent to november 18, 1959. in our opinion, the partnership was born and was constituted for the first time on november 18, 1959. 20. the income-tax officer, the appellate assistant commissioner and the appellate tribunal bestowed though over the question whether the formation of a partnership was possible unless it was preceded by the transformation of ..... distribution of profits, a partnership came into existence by some other process. we do not think that this submission is substantial since it is clear from the order of the income-tax officer and from the order of the tribunal that the foundation for the contention that there was a partnership on december 8, 1958, was what was contained in the partition ..... setty the appellate assistant commissioner, who did not discuss the question whether a partnership was formed under the partition deed, shared the view taken by the income-tax officer that the income could not be assessed as the income of the hindu joint family. 4. in the further appeal preferred by rangappa setty to the appellate tribunal, he was able to secure an order .....Tag this Judgment!
Court : Karnataka
Decided on : Jun-07-1966
Reported in : 64ITR555(KAR); 64ITR555(Karn); (1966)2MysLJ327
..... on may 26, 1964, he made an application under section 67 of the mysore agricultural income-tax act, 1957, for composition of the agricultural income-tax payable by him. by an order made on july 20, 1964, the agricultural income-tax officer refused composition on the ground that he had 'learnt' that the assessee had reaped and ..... of the classes of land specified in part ii of the schedule may apply to the prescribed officer for permission to compound the agricultural income-tax and super-tax payable by him and to pay in lieu thereof a lump sum at the rate specified in sub-section (2)............' 9. it is ..... is seen from the preamble to the act that its purpose is to charge income-tax on agricultural income from lands on which commercial crops are raised. section 2 (1) (a) defines agricultural income as including income derived from a land by agriculture. so, it is seen from this including income derived from a land by agriculture. so ..... derived an income from pepper and cardamom which are plantation crops as defined by section 2 (1) (q) of the act. 2. the view take by the income-tax officer was that, since the assessee not only grew on his land area which ..... is a commercial crop as defined by section 2 (1) (e), but also derived income from pepper and cardamom which are plantation crops as .....Tag this Judgment!
Court : Karnataka
Decided on : Mar-21-1966
Reported in : 62ITR767(KAR); 62ITR767(Karn)
..... 1. this reference under section 66(2) of the income-tax act, 1922, involves the interpretation of section 27 of the act. in respect of the assessment years 1953-54 and 1954-55, the assessee produced no return, although called upon to do so under ..... or that he had not a reasonable opportunity to comply, or was prevented by sufficient cause from complying, with the terms of the last mentioned notices, the income-tax officer shall cancel the assessment and proceed to make a fresh assessment in accordance with the provisions of section 23.' 5. mr. srinivasan for the assessee ..... cancellation of the assessment reads : '27. where an assessee within one month from the service of a notice of demand issued as hereinafter provided, satisfies the income-tax officer that he was prevented by sufficient cause from making the return required by section 22, or that he did not receive the notice issued under sub- ..... 27 on the ground that there was sufficient reason for non-compliance with the notices issued under section 22(2) and under section 22(4). the income-tax officer, who held that there was no sufficient cause for non-compliance with the notice served under section 22(2), was however of the opinion that ..... section 22(2). he was thereupon served with a notice under section 22(4) and called upon to produce his accounts. on failure to produce them, the income-tax officer .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Oct-26-1966
Reported in : AIR1969AP3
..... it could come to that conclusion. there is absolutely no doubt that under sec. 3 of the said act, the income tax officer could either assess the income of an association of person. if the income-tax officer assessed the individuals, he could not later claim to assess the association of persons, but it may ..... p. jaganmohan reddy, c.j.1. the income-tax appellate tribunal has , at the instance of the commissioner of income-tax, referred under sec. 66(1) of the indian income-tax act, 1922, the following questions viz.-'whether on the facts and in the circumstances of the case, the assessment made on ..... record cannot be gainsaid. neither before the appellate assistant commissioner nor before the tribunal did the department place any evidence to show that the income-tax officers who had assessed the individuals constituted an association of persons. the tribunal has stated in its order that there was no material before ..... was argued before the tribunal that the appellate assistant commissioner was wrong in so holding because it was not shown by the assessee that the income-tax officer had consciously exercised the option to assess the individuals instead of the association of persons. the tribunal has stated that there was no ..... was made under sec. 23 (3) read with sec. 34 of the act on 31-1-56 on the association of persons. but it turned out that the notice was wrongly issued and, in fact, the income-tax officer intended to reopen the assessment for the year 1950-51. the appellate assistant .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Jan-07-1966
Reported in : AIR1966SC1536; 60ITR95(SC)
..... recorded an answer in the negative. with certificate granted by the high court, this appeal has been preferred.3. under section 3 of the indian income tax act, income tax is charged in respect of the total income of the previous year of every individual, hindu undivided family, company and local authority, and of every firm and other association of persons or the ..... within the meaning of section 23-b. it would be reasonable to hold that the income of the three parties was assessed under section 23(3) of the income tax act, for the income was earned in commercial transactions in different commodities. the income tax officer in assessing the income of the joint venture could not have proceeded without scrutinizing the accounts and other relevant documentary ..... to the joint venture under section 23(3) of the income tax act, 1922 in the status of an unregistered firm and computed the income of the joint venture at rs 80,925. in appeal to the appellate assistant commissioner the order passed by the income tax officer was confirmed. in second appeal, the income tax appellate tribunal set aside the order of the appellate assistant ..... of the three parties. apart from an association of individuals or a firm, the income tax act does not recognize a collection of individuals as an entity capable of being assessed to tax. the three parties were not a registered firm, and they could be assessed to tax collectively as an association of individuals or as an unregistered firm if the relation between .....Tag this Judgment!