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Judgment Search Results Home > Cases Phrase: income tax act Year: 1967 Page 9 of about 674 results (0.090 seconds)

Apr 10 1967 (SC)

Commissioner of Income-tax, West Bengal Vs. B.K. Dhote

Court : Supreme Court of India

Decided on : Apr-10-1967

Reported in : [1967]66ITR457(SC)

..... law by the tribunal casting the onus on the assessee to prove that he did not satisfy the requirements of section 4(a) of the income-tax act, instead of casting the onus on the department to prove that every essential ingredient to make the assessee resident was satisfied in the present case ..... year under assessment i had never been to british india and, hence, i do not come under the jurisdiction of the indian income- tax act in the said year as i had no income in india at that time. ... please also note that during the year in question i made no remittance to india and, ..... read as follows; 'for the purposes of this act - (a) any individual is resident in british india in any year if he - ... (iii) having within ..... answer the third question. the commissioner of income-tax has appealed against the decision of the high court on the second question. there is no appeal before us by the assessee against the answer to the first question. 5. section 4a(a) (iii) of the income-tax act, 1922, in the relevant years of assessment ..... previous two years were occasional or casual. the tribunal accordingly reversed the order passed by the appellate assistant commissioner and restored the order of the income-tax officer assessing the assessee as resident and ordinarily resident in british india. 3. the tribunal drew up a statement of the case and submitted .....

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Mar 09 1967 (SC)

Commissioner of Income-tax, West Bengal Vs. Premji Bhimji

Court : Supreme Court of India

Decided on : Mar-09-1967

Reported in : [1967]66ITR441(SC)

..... shares of radha films limited was a venture in the nature of trade and whether the said amount of gain was of a 'capital nature' or an 'income from business' taxable under the indian income-tax act ?' 2. the learned judges of the high court on the 15th december, 1959, after hearing counsel, were of the view that the statement of case was not ..... 21, 1963, answered the question that the gain was of a capital nature and was not income from business taxable under the indian income-tax act. the high court having declined to grant a certificate under section 66a of the indian income-tax act, 1922, with special leave the commissioner of income-tax has appealed to this court. 4. counsel for the commissioner contends that the judgment under appeal ..... that case the material part of the headnote is as follows : 'in calling for a supplementary statement of the case under section 66(4) of the indian income-tax act, 1922, the high court can require the tribunal to include in such supplementary statement only such material and evidence as may already be on the record but which has not ..... tribunal, calcutta bench, calcutta, drew up a statement of case under section 66(2) of the indian income- tax act and submitted the following question to the high court of judicature at calcutta : 'whether, under the facts and circumstances, and on the materials available, the appellate tribunal was justified in .....

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May 04 1967 (SC)

Commissioner of Income-tax, West Bengal Vs. Jalan Investment P. Ltd.

Court : Supreme Court of India

Decided on : May-04-1967

Reported in : [1968]68ITR217(SC)

..... and in the circumstances of the case, the amount of dividend declared in favour of the assessee was rightly taken into consideration by the income-tax officer before passing order against the assessee under section 23a of the indian income-tax act, 1922, as it stood at the material time ?' 11. the appellate tribunal dismissed the application on the ground that although the question ..... , j. 1. this appeal by special leave is directed against the judgment of the high court refusing to direct the income-tax appellate tribunal to state a case under section 66(2) of the indian income-tax act, 1922, hereinafter referred to as 'the act'. the only question which falls for consideration is whether a referable question of law arises or not out of the order ..... word by saying that such dividend as is the one in the case in question has been treated as deemed or fictional income under the income-tax act itself and therefore the submission by the department representative, in our opinion, goes against the act itself, which certainly cannot be permitted.' 9. the tribunal finally concluded thus : 'a mere declaration of dividend, in our opinion, ..... that the only order of the high court which appears on record is a formal order containing no reasons for dismissing the petition of the commissioner of income-tax under section 66(2) of the act. 3. the facts, in brief, are as follows : 4. m/s. jalan investment (pvt.) ltd., calcutta, hereinafter referred to as 'the assessee', is an investment company .....

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Nov 22 1967 (SC)

Dalhousie Investment Trust Company Ltd. Vs. Commissioner of Income-tax ...

Court : Supreme Court of India

Decided on : Nov-22-1967

Reported in : AIR1968SC761; [1967]66ITR473(SC); [1968]2SCR353

..... an investment company periodically various its investments does not necessarily mean that the profits resulting from such variation is taxable under the income-tax act. variation of its investments must amount to dealing in investments before such profits can be taxed as income under the income-tax act.' 9. reliance was also placed on the observations of this court in bengal and assam investors ltd. v. commissioner ..... case, the surplus derived by the assessee in the sale of its shares and securities in the relevant previous years was a revenue receipt and as such taxable under the income tax act.' 2. the facts and circumstances under which the question was referred by the tribunal for the opinion of the high court are mentioned in that order of remand and ..... of income-tax, west bengal : [1966]59itr547(sc) , which were quoted in the remand order and are as follows :- 'it seems to us that, ..... court was right in arriving at the conclusion that, on the facts and circumstances of the present case, the income derived by the assessee from the sale of its shares and securities in the relevant previous years was revenue receipt and as such taxable under the income-tax act. the appeals fail and are dismissed with costs. one hearing fee. 13. appeals dismissed. .....

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Apr 18 1967 (SC)

Esthuri Aswanthiah Vs. Commissioner of Income-tax, Mysore

Court : Supreme Court of India

Decided on : Apr-18-1967

Reported in : AIR1968SC36; [1966]60ITR411(SC); [1967]3SCR681

..... of dismissal of the appeal may result in injustice, especially when the assessee had not a fair trial of his case before the tribunal. section 66(5) of the indian income-tax act, 1922, requires the tribunal on receiving a copy of the judgment of the high court to pass such orders as are necessary to dispose of the case conformably to such ..... . so we direct that the addition must be confined to rs. 50,000 only.' 4. the tribunal drew up a statement of the case under section 66(2) of the income-tax act and submitted three questions to the high court of mysore, of which the second and the third questions are relevant for the purpose of this appeal : '2. having found that ..... on the ground that under section 2(11) of the income-tax act, 1922, the previous year for the income from other sources could only be the financial year ending march 31, 1950. giving effect to this finding, the income-tax officer issued a notice of reassessment under section 34 of the indian income-tax act for bringing to tax the amount disclosed by the books of account of the ..... to june 30, 1949, were lost and that the amount of rs. 1,87,000 represented 'cash brought from an iron safe kept in his house'. the income-tax officer found that in each previous year when the assessee was assessed under the mysore income-tax act, he had pleaded that his books of account were either lost or stolen in the succeeding year. the .....

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May 01 1967 (SC)

Kalawati Devi Harlalka Vs. Commissioner of Income-tax, West Bengal and ...

Court : Supreme Court of India

Decided on : May-01-1967

Reported in : AIR1968SC162; [1967]66ITR680(SC); [1967]3SCR833

..... as the circumstances of the cases justify after giving you an opportunity of being heard under the powers vested in me under section 33b of the income-tax act, 1922. the cases will be heard at 11 a.m. on 1st february, 1963 at my above office when you are requested to ..... and three points were urged before him : (1) that the income-tax act, 1922-hereinafter referred to as the 1922 act-having been repealed by income-tax act, 1961 hereinafter referred to as the 1961 act-which came into force on april 1 1962, the commissioner of income-tax had no power. authority or jurisdiction to initiate the proceedings under s ..... cease to have effect except for the purpose of the levy, assessment and collection of income- tax and super-tax in respect of any period not included in the previous year for the purpose of assessment under the indian income-tax act, 1922 (xi of 1922) for the year ending on 31st day of march 1951 ..... arose. the question was whether under s. 13 of the finance act, 1950, the appeals in respect of assessment for 1949-50 would be governed by the patiala income-tax act, 2001, or by the indian income-tax act, we may here set our 13 of the finance act, 1950 : 'if immediately before the 1st day of april, ..... 1952-53 to 1960-61. assessments erroneous and prejudicial to the interests of revenue-revision of assessments under section 33b of the indian income-tax act 1922 proposal for-notice regarding. on calling for and examining the records of your case for the assessment years 1952-53, 1953- .....

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Mar 21 1967 (SC)

L.M. Chhabda and Sons Vs. Commissioner of Income-tax, Gujarat

Court : Supreme Court of India

Decided on : Mar-21-1967

Reported in : [1967]65ITR638(SC)

..... by them did not depend upon the branch of their business called 'prakash talkies' being carried on in the year 1954. 6. section 10(1) of the indian income-tax act, 1922, provides : 'the tax shall be payable by an assessee under the head 'profits and gains of business, profession or vocation' in respect of the profits or gains of any business, profession of ..... possession of the premises used for the purpose of the assessee's business is an item which is properly chargeable to profits under section 10(1) of the income-tax act in computing his taxable income. it was also common ground that the burden of proving year (calendar year 1954) relevant to the assessment year 1955-56 lay upon the appellants. the commissioner contended ..... the source of income had ceased to exist. if ..... him.' 7. for income of a business to be taxable under section 10 of the act it is one of the conditions that the assessee must carry on the business in the relevant year of account. if the business is discontinued before the commencement of the accounting year, the income attributable to that business received in the year cannot taxed under section 10, because .....

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Jul 26 1967 (SC)

M.M. Ipoh and ors. Vs. Commissioner of Income-tax, Madras

Court : Supreme Court of India

Decided on : Jul-26-1967

Reported in : AIR1968SC317; [1968]67ITR106(SC); [1968]1SCR65

..... orders recorded by the high court in references under s. 66 he association of persons 'm. m. ipoh' has appealed. 11. section 3 of the income-tax act invests the taxing authority with an option to assess to tax the income collectively of the association of persons, in the hands of the association or in separate shares in the hands of the members of the association ..... ' as inclusive of any company, association or body of individuals whether incorporated or not, and that inclusive definition in the general clauses act would also apply under the income-tax act. a firm is therefore a 'person' within the meaning of the income-tax act, and a firm and an individual or group of individuals may from an association of persons within the meaning of s. 3 ..... against 'the association of persons m. m. ipoh'. in support of the petitions it was urged that s. 3 of the indian income-tax act invested the income-tax officer with arbitrary and unguided power to assess to tax the income of an association of persons in the hands either of the association or of the persons constituting that association, and on that account s. 3 ..... persons. the appellate tribunal confirmed the order of the appellate assistant commissioner. 7. the tribunal drew up a statement of case and submitted under s. 66(1) of the indian income-tax act, the following question for determination of the high court of madras : 'whether the assessments on the 'association of persons' for assessment years 1951-52 to 1956-57 are valid ?' and .....

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May 05 1967 (SC)

Killick Nixon and Company Vs. Commissioner of Income-tax, Bombay

Court : Supreme Court of India

Decided on : May-05-1967

Reported in : AIR1968SC9; [1967]66ITR714(SC); [1967]3SCR971

..... in the affirmative on the fourth question. it will be the duty of the tribunal in disposing of the appeal under s. 66(5) of the income-tax act to hear the parties and to determine on a consideration of the evidence the value of the three assets on january 1, 1939 in the light ..... the value of the assets could not exceed the amount at which it was estimated by the appellate assistant commissioner. 15. under the scheme of the income-tax act, the tribunal is the final authority on questions of fact. the tribunal in deciding an appeal is bound to consider all the evidence, and the arguments ..... and 1-2-1948.' 9. the high court in dealing with the questions referred observed that under the third proviso to s. 12b(2), of the income-tax act, 1922 the assessee was entitled to substitute the fair market value of the assets as on january 1, 1939 if the capital assets had been held ..... 1. these are cross appeals from the order passed by the high court of bombay recording answers to questions submitted in a reference under s. 66 of the indian income-tax act, 1922. 2. messrs killick nixon & co. - hereinafter called 'the assessee' - was a firm which carried on diverse trading activities in bombay. the assessee agreed ..... of the case, the assessee firm is entitled to the benefit contained under s. 25(3) in respect of capital gains assessed to tax under s. 12b of the income-tax act (2) whether on the facts and in the circumstances of the case, the assessee firm is liable to pay capital gains in respect .....

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Mar 27 1967 (SC)

N. Kt. Sivalingam Chettiar Vs. Commissioner of Income-tax, Madras

Court : Supreme Court of India

Decided on : Mar-27-1967

Reported in : [1967]66ITR586(SC)

..... pursuant to the finding of the appellate assistant commissioner in the earlier proceedings was saved by the second proviso to section 34(3) of the income-tax act. the high court, at the bearing of the reference, also accepted that view. the high court observed : 'what the second proviso to section 34(3) contemplates is a different ..... 1946, and the amount was not taxable in the assessment year 1947-48. 5. in the meanwhile, action was commenced by the income-tax officer on october 23, 1958, under section 34(1) (a) of the income-tax act for assessment of the income of the assessee for the year 1946-47, consequent upon the finding recorded by the appellate assistant commissioner in proceedings for assessment ..... years had elapsed since the end of the assessment year and the amount involved was less than rs. 1 lakh, no proceeding for assessment of income could be initiated under section 34(1) (a) of the income-tax act for the assessment year 1946-47. this plea was rejected by the departmental authorities and the tribunal. they held that the proceedings for assessment ..... 16,000 brought by him when he returned to india from malaya on march 21, 1946. the income-tax officer started proceedings against the assessee for assessment of tax under section 34 of the income-tax act for the assessment year 1947-48, and brought to tax rs. 16,000 as income from undisclosed sources. in appeal, the appellate assistant commissioner modified the order and held that rs .....

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