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Judgment Search Results Home > Cases Phrase: income tax act Year: 1967 Page 7 of about 674 results (0.088 seconds)

Mar 28 1967 (HC)

Commissioner of Income-tax Vs. C.P. Sarathy Mudaliar

Court : Andhra Pradesh

Decided on : Mar-28-1967

Reported in : [1968]68ITR626(AP)

..... that the word ' shareholder ' under section 2(6a)(e) should receive the same meaning given to the word shareholder in sections 18(5) and 23a of the income-tax act, that is, a person who is recorded as a shareholder in the books of the company and that a loan advanced to a hindu undivided family which is the ..... for disposal by its order dated 21st september, 1966, holding that the high court has no power in a reference arising under section 66 of the income-tax act to set aside the order of the tribunal and to remand the appeal for fresh hearing as the jurisdiction of the high court is only of an ..... the hindu undivided family in the respective assessment years'. the determination of this question turns upon the interpretation of section 2(6a)(e) of the indian income-tax act, 1922 (xi of 1922), which reads as follows : (omitting portions which are not relevant). '2. (6a) 'dividend' includes--...... (e) any payment by ..... tribunal held in favour of the assessee that the two amounts cannot be included as dividend income. aggrieved by the said order of the tribunal, the commissioner of income-tax, andhra pradesh, hyderabad, sought a reference under section 66(1) of the indian income-tax act of 1922, on which the tribunal referred the following question to the high court, ..... krishna rao, j. 1. the above reference under section 66(1) of the indian income-tax act (xi of 1922), arises tinder the following circumstances: the respondent is the karta of a hindu undivided family, which is the assessee. .....

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Nov 27 1967 (SC)

Balwant Singh and anr. Vs. L.C. Bharupal, Income-tax Officer, New Delh ...

Court : Supreme Court of India

Decided on : Nov-27-1967

Reported in : [1968]70ITR89(SC)

..... in any one of those categories of courts. 6. it appears that at one time the high court of bombay took the view that an income-tax officer under the income-tax act and a sales tax officer under the bombay sales tax act, 1953 was a revenue court. (cf. in re poonamchand maneklal and state v. nemchand pashvir patel). this view, however, was not approved by this ..... equate with a court. but in a subsequent decision in lalji haridas v. state of maharashtra the majority took the view that in view of section 37 of the income-tax act, 1922, when an income-tax officer exercises power under that section, the proceedings held by him are judicial proceedings for the purposes of sections 193, 196 and 228 of the penal code section ..... urged in support of the said application before the high court and the same were canvassed by mr. gupte before us. these were : (1) that the income-tax officer while acting under section 26a of the income-tax act, 1922, was a court and that that being so, it was incumbent on him follow the procedure laid down in sections 476 and 479a of the code ..... district, he lodged a complaint before the magistrate alleging that the said certificate of posting and the said duplicate application in the proceedings before him under section 26a of the income-tax act as genuine knowing them to be forged, that the statement on oath of appellant no. 1 was false and that, therefore, the appellants were liable for offences under sections 193 .....

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Mar 14 1967 (SC)

CochIn Company Vs. Commissioner of Income-tax, Kerala

Court : Supreme Court of India

Decided on : Mar-14-1967

Reported in : [1968]67ITR199(SC)

..... but which has not been included in the statement of the case made initially under section 66 (1) or section 66 (2) of the income-tax act. 11. we, accordingly, allow this appeal and remand the case to the high court for dealing with the case in accordance with the directions given ..... 1962, and direct the high court to call for a supplementary statement of the case from the appellate tribunal under section 66 (4) of the income-tax act, and, after the receipt of such supplementary statement, determine the question of law referred to it. in calling for a supplementary statement of the case ..... extra depreciations under section 10 (2) (vi) and 10 (2) (via) of the indian income-tax act ?' 7. by its judgment dated march 26, 1962, the kerala high court answered the question in the negative and against the appellant. 8. section 10 (2) ..... allowed the appeal. at the instance of the respondent the appellate tribunal stated a case to the kerala high court under section 66(1) of the income-tax act and referred the following question of law : 'whether the aforesaid machines are 'new' so as to entitle the assessees (the petitioners) to initial and ..... the business of exporting frozen prawns, made a claim for initial and additional depreciation under sections 10(2)(vi) and 10(2)(via) of the income-tax act, 1922, in respect of a one-ton flake ice machine and two reconditioned 'jackstone junior frosters mark ii', each of the latter purchased at .....

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Mar 29 1967 (SC)

Commissioner of Income-tax, Punjab Vs. Daulat Ram Khanna

Court : Supreme Court of India

Decided on : Mar-29-1967

Reported in : [1967]65ITR603a(SC)

..... the assessee is a hindu undivided family and the dispute relates to the year of assessment 1945-46. proceedings under s. 34 of the income tax act were started by the income tax officer 'b' ward amritsar against the assessee by issue of a notice on march 29, 1954. the process sever went to the assessee' ..... this appeal by special leave is directed against the judgment of the high court of punjab chandigarh in income tax reference no. 23 of 1962 made to it by the income tax tribunal under s. 66(1) of the indian income tax act 1922. the following question was referred to the high court :- 'whether on the facts and the circumstances ..... we agree with the latter contention it is not necessary to deal with the first point raised by him. 7. under s. 63 of the income tax act a notice may be served as if it were the summons issued by the court under the code of civil procedure. the answer to the ..... of the cas the notice under section 34 of the income tax act was properly served on the assessee within the prescribed period.' 2. the relevant facts, in brief are that the respondent shri. daulat ram khanna ..... been served in time even if the service be taken to have been effected after march 31, 1954. he had relied before the high court on the indian income tax (amendment) act, 1959 and the decision of this court in s.c. prasher v. vasantson dwarkadas : [1963]49itr1(sc) . 6. the learned counsel for the revenue .....

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Apr 03 1967 (SC)

Commissioner of Income-tax Andhra Pradesh Vs. K. Adinarayan Murty

Court : Supreme Court of India

Decided on : Apr-03-1967

Reported in : AIR1967SC1545; [1967]65ITR607(SC); [1967]3SCR388

..... government and in this business he has earned large profits which has escaped assessment. accordingly, he issued a notice under section 34 of the income-tax act, 1922 (hereinafter called the 'act') on march 22, 1957. in response to the notice the assessee made a return on april 30, 1957. prior to the issue of ..... that status, it is manifest that the proceedings taken under that notice were illegal and without jurisdiction. under the scheme of the income-tax act the 'individual' and the 'hindu undivided family' are treated as separate units of assessment and if a notice under s'. 34 of the ..... that status, it is manifest that the proceedings taken under that notice were illegal and without jurisdiction. under the scheme of the income-tax act the 'individual' and the 'hindu undivided family' are treated as separate units of assessment and if a notice under s'. 34 of the ..... the return filed by the assessee on april 30, 1957 in response to the first notice was not a valid return and the income-tax officer was not bound to act upon it. accordingly the appellate tribunal held that the assessment made under the second notice was legally valid. since the appellate assistant commissioner ..... the return filed by the assessee on april 30, 1957 in response to the first notice was not a valid return and the income-tax officer was not bound to act upon it. accordingly the appellate tribunal held that the assessment made under the second notice was legally valid. since the appellate assistant commissioner .....

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Mar 29 1967 (SC)

Commissioner of Income-tax Punjab Jammu and Kashmir and Himahcal Prade ...

Court : Supreme Court of India

Decided on : Mar-29-1967

Reported in : AIR1967SC1552; [1967]65ITR603(SC); [1967]3SCR298

..... 'the assessee', is a hindu undivided family, and the dispute relates to the year of assessment 1945-46. proceedings under section 34 of the income-tax act were started by the income-tax officer, b-ward, amritsar, against the assessee by issue of a notice on march 29, 1954. the process-server went to the assessee' ..... this appeal by special leave is directed against the judgment of the high court of punjab, chandigarh, in income-tax reference no. 23 of 1962, made to it by the income-tax tribunal under section 66(1) of the indian income-tax act, 1922. the following question was referred to the high court : 'whether, on the facts and in the ..... agree with the latter contention, it is not necessary to deal with the first point raised by him. 7. under section 63 of the income-tax act a notice may be served as if it were a summons issued by the court under the code of civil procedure. the answer to the ..... circumstances of the case, the notice under section 34 of the income-tax act was properly served on the assessee within the prescribed period.' 2. the relevant facts, in brief, are that the respondent, shri daulat ram khanna, ..... served in time even if the service be taken to have been effected after march 31, 1954. he had relied before the high court on the indian income-tax (amendment) act, 1959, and the decision of this court in s. c. prashar v. vasantsen dwarkadas. 6. the learned counsel for the revenue, mr. b. .....

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Nov 10 1967 (SC)

Commissioner of Income-tax, Andhra Pradesh Vs. Krishna and Sons

Court : Supreme Court of India

Decided on : Nov-10-1967

Reported in : [1968]70ITR733(SC)

..... however not clear. 5. in the application submitted by the commissioner praying that questions arising out of the order of the tribunal be referred under section 66(1) of the income-tax act to the high court one of the question submitted was the following : 'if the answer to question no. (2) is in the affirmative, whether such 'route value' does not constitute ..... rs. 23,000 which was received by the respondents as consideration for the sale and the original price of rs. 14,500 represented capital gain chargeable to income-tax under section 12b(2) of the indian income-tax act. the tribunal then referred the following question at the instance of the commissioner to the high court of andhra pradesh :'whether on the facts and in ..... as income arising from carrying on trade. in appeal to the appellate ..... the depreciation allowed in proceedings for assessment of income-tax and the written down value of the omnibus in the record of the income- tax office was nil. in proceedings for assessment to income-tax for the assessment year 1959-60, the income-tax officer brought to tax rs. 14,500 as deemed profit under section 10(2)(vii) of the income-tax act, 1922, and the balance of rs. 8,500 .....

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Mar 15 1967 (SC)

Commissioner of Income-tax, Assam, Tripura and Manipur Vs. Jwalaprasad ...

Court : Supreme Court of India

Decided on : Mar-15-1967

Reported in : [1967]66ITR154(SC)

..... questions were referred to the high court of judicature of assam and nagaland, under section 66(2) of the indian income-tax act, 1922, by the income-tax appellate tribunal, calcutta bench 'a' : '(1) whether, under the facts and circumstances of the case, the share income of the minor son from the three firms is liable to be included in the assessment of the father under ..... . 9. but mr. s. t. desai, the learned counsel for the appellant, complains that there could be no evidence on the record because this point was not raised before the income-tax officer and the assessee had been accepting the past assessments. we find, however, that the point was raised before the appellate assistant commissioner, and if the department was so minded ..... as an asset transfered by the appellant to the son 'indirectly'. he accepted the second contention but we are not concerned with this point. 4. the assessee appealed to the income-tax appellate tribunal. the appellate tribunal noticed that some time during the previous year for 1957-58 assessment year a sum of rs. 11,000 out of the personal account of ..... to interest at 4 1/2%. these three firms made a profit during the relevant year and the minor's share came to rs. 22,476. the income-tax officer included this sum in the income of the assessee for the assessment year 1959-60. 3. the assessee appealed to the appellate assistant commissioner and contended : (1) that only the interest on the .....

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May 04 1967 (SC)

Commissioner of Income-tax, Bombay City I Vs. Greaves Cotton and Co. L ...

Court : Supreme Court of India

Decided on : May-04-1967

Reported in : [1968]68ITR200(SC)

..... of its profits as expenditure laid out wholly and exclusively for the purpose of its business under section 10(2)(xv) of the indian income-tax act, 1922. the income-tax officer rejected the claim of the respondent-company and observed as follows : 'the facts of the case appear to show that the termination of ..... respondent-company to the managing agents on the termination of the managing agency agreement was an admissible deduction under section 10(2) (xv) of the income-tax act. after recording a clear finding on the question, the appellate tribunal will finally dispose of the appeal. 14. for the reasons already given we set ..... the assessee in any particular case that he is entitled to deduction of certain items of expenditure under section 10(2) (xv) of the income-tax act involves the application of the law to the facts found in the setting of the particular case. but this does not mean that in the ..... managing agents on the termination of their managing agency agreement dated may 10, 1950, was an admissible deduction under section 10(2) (xv) of the income-tax act ?' 9. by its judgment dated july 11/12, 1962, the high court answered the reference in favour of the respondent-company and against the appellant. ..... s business.' 8. at the instance of the respondent-company the appellate tribunal stated a case to the high court under section 66(1) of the income-tax act on the following question of law : 'whether, on the facts and circumstances of this case, the amount of rs. 18 lakhs paid by the .....

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Dec 05 1967 (SC)

Commissioner of Income-tax, Bombay City I, Bombay Vs. Jubilee Mills Lt ...

Court : Supreme Court of India

Decided on : Dec-05-1967

Reported in : AIR1968SC883; [1968]38CompCas348(SC); [1968]68ITR630(SC); [1968]2SCR539

..... act requires a company in which the public are no substantially interested to declare in the absence of certain special circumstances a dividend ..... june 30, 1947, the respondent-company was assessed to a total income of rs. 7,47,639/-. on that amount tax was calculated at rs. 3,27,091/- and the balance available for distribution by way of dividends for the purposes of s. 23a of the income-tax act, 1922 (hereinafter referred to as the 'act') was, therefore, rs. 4,20,548/-. section 23a of the ..... questions of law for the opinion of the bombay high court : '1. whether on the facts and in the circumstances of the case the income-tax officer was competent to pass an order u/s. 3(1) of the act after having allowed a rebate of one anna per rupee in the assessment under the proviso (a) to paragraph (b) of part i ..... of the said section. the actual dividend which was declared by the respondent-company was only rs. 24,750/-. the income-tax officer with the previous approval of the inspecting assistant commissioner, therefore, applied the provisions of s. 23a of the act to the respondent-company and held that the company should be deemed to have declared a dividend of rs. 3,95 .....

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