Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 1 of about 650 results (0.291 seconds)

Aug 20 1968 (SC)

Metal Box Company of India Ltd. Vs. their Workmen

Court : Supreme Court of India

Decided on : Aug-20-1968

Reported in : AIR1969SC612; [1969]39CompCas410(SC); [1969(18)FLR336]; [1969]73ITR53(SC); (1969)ILLJ785SC; [1969]1SCR750

..... in other words, when the tribunal reaches the stage of clause (c), does it have to assess the taxable income in accordance with the various provisions of the income-tax act just as an income-tax officer would do and assess the liability of income tax on such taxable income according to the rates applicable during the particular accounting year, or should it compute the balance of gross profits ..... the court was of the view that though such a liability is a contingent liability and therefore not a 'debt' under section 2(m) of the wealth-tax act, it would be deductible under the income-tax act while computing the taxable profits. in the instant case, the question is not whether such estimated liability arising under the gratuity schemes amounts to a debt or ..... on paid up and working capitals while working out the gross profits. parliament besides was or at any rate is presumed to have been aware that depreciation allowed under the income-tax act would not be sufficient for rehabilitation purposes.. it did away with rehabilitation as a prior charge partly because there were complaints that it was being ill-used, but partly ..... the company claimed the deduction of depreciation, it stands to reason that the burden of proof that the depreciation claimed by it was the correct amount in accordance with the income-tax act was on the company and that burden the company must discharge once its figure were challenged. but it was contended that once the company produced its auditors' certificate that .....

Tag this Judgment!

Feb 08 1968 (HC)

Niranjanlal Potdar Vs. Commissioner of Income-tax, U.P., Lucknow

Court : Allahabad

Decided on : Feb-08-1968

Reported in : AIR1969All387

..... not to the appellant but to sri niranjan lal potdar. the income-tax officer is directed to assess these incomes in the hands of sri niranianlal potdar.'8. now, on august 7, 1957 the income-tax officer issued a notice under section 34 of the income tax act, 1922 to the assessee for each of the assessment years 1949- ..... 50 and 1950-51 and assessed him in respect of the share income from the firm. the appeals preferred by the assessee were ..... pathak, j.1. upon a statement of the case submitted by the income tax appellate tribunal under section 66 (1) of the indian income tax act, 1922, in respect of the assessment years 1949-50 and 1950-51 the following four questions have been referred to this court. ..... against both the assessment orders to the appellate assistant commissioner. meanwhile in the assessment proceedings relating to the family for the assessment year 1951-52, the income tax officer had occasion to consider some documents produced before him concerning the division of the assets of the family. on march 31, 1955 he made an ..... was prayed that an order under section 25a of the act be made. the claim was rejected and the order became final in the absence of any appeal against it.6. for the first time, on march 23, 1952 the assessee filed income tax returns for the assessment year 1947-48 to 1951-52 .....

Tag this Judgment!

Sep 03 1968 (SC)

P.N. Krishna Iyer Vs. Commissioner of Income-tax, Kerala

Court : Supreme Court of India

Decided on : Sep-03-1968

Reported in : AIR1969SC893; [1969]73ITR539(SC); [1969]1SCR943

..... assessee of as an individual. 4. but the commissioner of a income-tax being of the opinion that the order passed by the income-tax officer was wrong and prejudicial to the interests of the revenue, revised the order of the income-tax officer exercising power under section 33b of the income-tax act, 1922 and included the income from salary, commission and 'sitting fee' aggregating to rs. 43 ..... ,240 in the total income of the hindu undivided family. in appeal against the order, the tribunal reversed the order the of ..... of the commissioner to revise to the order of the income-tax officer present little difficulty. sub- section (1) of section 33b of the income-tax act, 1922, provides : 'the commissioner may all for and examine the record of any proceeding under this act and in he considers that any order passed therein by the income-tax officer is erroneous in so far as it is ..... were rectified. the order of assessment of the hindu undivided family was never challenged in appeal to the appellate assistant commissioner. the commissioner revised the order passed the by the income-tax officer in so far as it related to the hindu undivided family. it is true that, in consequence of the order of the commissioner, the salary, commission and the .....

Tag this Judgment!

Sep 13 1968 (HC)

B.F. Varghese (No. 2) Vs. State of Kerala

Court : Kerala

Decided on : Sep-13-1968

Reported in : [1969]72ITR726(Ker)

..... isaac, j.1. these two references have been made by the kerala agricultural income-tax appellate tribunal under section 60(3) of the agricultural income-tax act, 1950, as directed by this court on applications made by the assessee, who is the same in both the cases. ..... impression gathered by the enquiry or inspection as laid down in the decision of the high court of kerala in george oommen v. commissioner of income-tax, [1964] 52 i.t.r. 933. the appellate assistant commissioner has found that no inspection or enquiry as stated in the assessment order had ..... candies based on the estimate for the previous year. the appellant's learned representative strenuously urges that the estimate was made by the agricultural income-tax officer on the basis of certain inspections and enquiries and that no such inspection or enquiry was conducted and that no estimate could be made ..... pepper vines was 8 candies 10 thulams. the assessing authority estimated the yield at 20 candies on the ground that enquiries conducted by the agricultural income-tax officer, taliparamba, revealed that 3/4 kgms. of pepper could be obtained from each pepper vine of the locality. the appellate assistant commissioner, in ..... yield at 18 candies as was done for the previous assessment. accordingly, he set aside the order of assessment and remitted the case to the income-tax officer for making a fresh assessment. the assessee filed an appeal before the appellate tribunal claiming that his books of account relating to the pepper .....

Tag this Judgment!

Dec 04 1968 (HC)

K.J. Somaiya Vs. Commissioner of Income-tax, Bombay

Court : Mumbai

Decided on : Dec-04-1968

Reported in : [1971]79ITR631(Bom)

..... claimed as a deduction in the subsequent year except in the cases coming under section 10(2) (xi) of the income-tax act. the argument that because the item was once subjected to tax should be allowed to be deducted on that score is, in our opinion, not capable of being justified at all. 6. as to the other ..... in it. in view of these findings, it is impossible to look upon the deduction as a bad debt of the business under section 10(2) (xi) of the indian income-tax act. 5. it is also difficult to accept the assessee's contention that the said item should be deducted in computing the real ..... , and in our opinion the tribunal is right in what it has stated. an income receipt, which has borne tax in an earlier year, if it is lost to the assessment in a subsequent year, cannot be ..... income of the assessee on the ground that the item represented the income receipt of earlier years on which tax was paid and which in fact has not been realised by the assessee. the tribunal has pointed out that there is no provisions in the indian income-tax act under which such a deduction can be permitted .....

Tag this Judgment!

Dec 05 1968 (HC)

S.S. Shirgaonkar Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Dec-05-1968

Reported in : [1970]78ITR576(Bom)

..... officer accordingly brought the said amount to tax in the assessment year 1951-52. the decision of the income-tax officer was confirmed in appeals by the appellate assistant commissioner and the income-tax appellate tribunal. the income-tax appellate tribunal relied on the authority of the ..... in an order relating to the assessment of one year does not warrant avoidance of the bar of limitation under section 34 of the indian income-tax act, 1922, against the initiation of proceedings for assessment for another year. since the provision of section 34(3) is not capable of being ..... , on the facts and in the circumstances of the case, initiation of proceedings under section 34(1)(b) of the income-tax act, for the year 1951-52, was in accordance with law.' 4. we answer accordingly. the commissioner will pay the costs of the assessee. ..... income-tax officer, who took the view that since the fresh assessment had been initiated to give effect to a finding of the appellate assistant commissioner in his order for the assessment year 1952-53, the bar of limitation was removed in view of the provisions of section 34(3) of the income-tax act. the income-tax ..... the original assessments of the assessee for the assessment years 1951-52 and 1952-53 also had been completed. in view of this order the income-tax officer issued a notice under section 34(1)(b) to the assessee for the assessment year 1952-53, which was served on the assessee on .....

Tag this Judgment!

Feb 23 1968 (HC)

S.M. Dahanukar Vs. Commissioner of Income-tax, Bombay City I

Court : Mumbai

Decided on : Feb-23-1968

Reported in : [1968]69ITR504(Bom)

..... to disclose all material facts necessary for his assessment. we may also add that the original assessment was under section 9 of the income-tax act assessing the assessee to income from property, whereas the assessment subsequently made is an assessment under section 12 under the head 'other sources' and of necessity, therefore ..... sources'. 4. in the meantime other events were taking place on the basis of which the proceedings under section 34(1)(a) of the income-tax act with which we are concerned were commenced against the assessee. the assessee continued to prosecute the proceedings for assessment of compensation payable to him by ..... kotval, c.j.1. the question referred for out decision under section 66(2) of the indian income-tax act is : 'whether, on the facts and circumstances, the income-tax appellate tribunal was right in holding that the assessee's case falls under section 34(1)(a) ?' 2. the ..... on behalf of the department mr. joshi has also brought to our notice a decision in kantamani venkata narayana and sons v. first additional income-tax officer, rajahmundry where again the supreme court accepted the distinction drawn in the calcutta discount co.'s case. in that case also the question of ..... in section 34(1)(a) has been the subject of pronouncement by the supreme court in several cases. in calcutta discount co. ltd. v. income-tax officer, companies circle i, calcutta, the majority decision of the supreme court pointed out that these words postulated a duty on every assessee to .....

Tag this Judgment!

Dec 03 1968 (HC)

Commissioner of Income-tax Vs. Ghanta Bapaniah and ors.

Court : Andhra Pradesh

Decided on : Dec-03-1968

Reported in : [1969]74ITR605(AP)

..... january 1, 1952, and accordingly it was prayed that that fact may be recorded and an order passed under section 25a of the income-tax act, 1922 (hereinafter called 'the act'). about the same time, each of the individual coparceners, on the basis that the joint family was divided, filed for the ..... direction that the assessment should not be proceeded with owing to the statutory bar created by section 34(3) of the act. as the income-tax authorities did not accede to the request of the appellants, a petition under articles 226 and 227 was filed in the ..... their constituting a hindu undivided family along with others and that they were intimately connected with the 'person' whose assessment was made by the income-tax officer and set aside by the appellate assistant commissioner on whose direction fresh assessment proceedings were taken. the bench, consisting of ramaswami and grover ..... firm and therefore its income must be excluded from that of the family. the income-tax officer was directed to assess the income of the business in the hands of the firm. the income-tax officer issued fresh notice to the appellants under section 22(4) and 23(2) of the act. the appellant refused ..... to comply with these notices and moved the inspecting assistant commissioner of income-tax for .....

Tag this Judgment!

Mar 11 1968 (HC)

R.B. Ram Rattan Prem Nath, Dehradun Vs. Commissioner of Income Tax, U. ...

Court : Allahabad

Decided on : Mar-11-1968

Reported in : AIR1969All375

..... (sc) thesupreme court, pronouncing upon the validity of proceedings under section 34(1)(a) for the assessment year 1945-46, held that during the period between the amendments of the income tax act in 1954 and 1956 and subsequently sections 34(1)(a) and 34(1a) occupied different fields, but apparently proceedings for the assessment year 1946-47 were excepted from the scope ..... parel-lel jurisdictions, one under section 34(1)(a) and the other under section 34(1a). it was open to the income-tax officer to take recourse to either jurisdiction for that assessment year. we are of opinion that the income-tax officer acted within, his powers in taking assessment proceedings under section 34(1)(a). that is also the view expressed by the bombay ..... high court in laxminarayan r. rathi v. income-tax officer : [1964]52itr254(bom) although upon somewhat different reason-ing.14. the assessee urges that ..... section 34(1a) or 34(1)(a)? 2. whether for the assessment years1947-48 and 1948-49 the income tax officer was justified in initiating action under section 34(1)(a) or he should have taken recourse to section 34(1)(b) of the act?' 2. the assessee is a partnership firm consisting of rai bahadur ram ratan and his son prem nath .....

Tag this Judgment!

Mar 11 1968 (HC)

Ramchand and Sons Sugar Mills Pvt. Ltd. Vs. Commissioner of Income-tax ...

Court : Allahabad

Decided on : Mar-11-1968

Reported in : AIR1969All383

..... declined to accept the valuation of rs. 41,69,681/- as the basis of allowing depreciation on the assets, and acting under the first proviso to section 10 (5) (a) of the indian income tax act, 1922 he determined the cost of the assets to the assessee at rupees 24,08,110/- and allowed depreciation on that basis. the appellate assistant commissioner set aside ..... do.'in gangadhar banerjee's case : [1965]57itr176(sc) the supreme court indicated how the commercial or accounting profits should be determined. it explained:'the income-tax officer, acting under this section, is not assessing any income to tax; that will be assessed in the hands of the share-holder. he only does what the directors should have done. he puts himself in the place ..... the assessment and directed the income tax officer to re-determine the cost after recording the evidence of an expert.5. for the ..... after taking into account the loss of rs. 20,562/- suffered in the preceding year the income-tax officer was still justified in applying section 23-a.11. section 23-a (1) of the act, as it stood at the relevant time, read as follows:'where the income-tax officer is satisfied that in respect of any previous year the profits and gains distributed as .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //