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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 1 of about 650 results (0.084 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 .....

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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 .....

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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 .....

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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 .....

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Aug 01 1968 (SC)

Commissioner of Income-tax, Uttar Pradesh Vs. Devi Prasad Vishwanath P ...

Court : Supreme Court of India

Decided on : Aug-01-1968

Reported in : [1969]72ITR194(SC)

..... out of the order of the tribunal. as we have already stated, before the tribunal at the hearing of the appeal under section 33 of the income-tax act, only two question were argued : (1) that the explanation of the assessee about the genuineness of the entry in the name of banshidhar should ..... of the assessee in handloom clothe and silk fabrics. 3. an application filed by the assessee under section 66(1) of the income-tax act to submit a statement of case to the high court of allahabad was rejected. but the high court directed the tribunal to submit a ..... as unreliable. this was so decided in kale khan mohammad hanif v. commissioner of income-tax, . whether is a given case the income-tax officer may tax the cash credit entered in ..... 6. there is nothing in law which prevents the income-tax officer in an appropriate case in taxing both the cash credit, the source and nature of which is not satisfactorily explained, and the business income estimated by him under section 13 of the income-tax act, after rejecting the books of account of the assessee ..... an entry dated january 15, 1945, of a deposit of rs. 20,000 in the name of messrs. banshidhar rawatmal of ratangarh. the income-tax officer called upon the assessee to prove the nature and source of this deposit and, after considering the evidence produced by the assessee, rejected the .....

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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 .....

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Oct 08 1968 (HC)

L. Hans Raj Gupta and anr. Vs. the Commissioner of Income Tax

Court : Delhi

Decided on : Oct-08-1968

Reported in : ILR1969Delhi240; [1969]73ITR765(Delhi)

..... on his behalf but on behalf of the partners in the subpartnership.' their lordships also dealt with the effect of section 23(5)(a) of the income-tax act, 1922, but since no arguments were addressed to us on this aspect, i need nto deal with the same. this decision, in my opinion, ..... charge upon the the assessed's income. in seth mtoi lal manekchand v. commissioner of income-tax, bombay north, (2) hindu joint family was partitioned and ..... .'whether, in any case, the aforesaid sum of rs. 55,664.00 could be claimed as permissible deduction under section 10 of the indian income-tax act, 1922 ?' and in that of messrs h. g. gupta and sons are- 3.'whether the amount of rs. 55,664.00 has ..... part of his income in a particular way, it is rather the allocation of a sum out of this revenue before it becomes income in his hands.' their lordships of the judicial committee, interpreted the indian income-tax act, to mean that it intended to tax only the real income of a tax payer and nto to tax what is a ..... does this create an over-riding title in favor of the assessed firm the first case on the subject is raja bejoy singh dudhuria v. commissioner of income-tax, bengal. in that case raja bejoy singh dhudhuria succeeded to certain ancestral estate on the death of his father. his stepmtoher filed a suit for maintenance .....

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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 .....

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Sep 18 1968 (HC)

K.S. Kannan Kunhi Vs. Commissioner of Income-tax

Court : Kerala

Decided on : Sep-18-1968

Reported in : [1969]72ITR757(Ker)

..... tribunal, madras bench, under section 66(2) of the indian income-tax, act, 1922, as directed by this court on the application of the assessee. the question referred is :'whether, on the facts and in the circumstances of the case, the addition of rs. 60,813 or any portion thereof as the income of the assessee-family from undisclosed sources during the previous year ..... discarded it in relation to a sum of rs. 30,000.'11. we shall now examine the decision in govindarajulu mudaliar v. commissioner of income-tax. in that case, the income-tax officer found that the income of the assessee, chargeable to tax, was rs. 54,600 for the assessment year 1945-46, rs. 27,500 for the year 1946-47 and rs. 54,500 for ..... the high denomination bank notes (demonetisation) ordinance, 1946, promulgated on 12th january, 1946. for the assessment year 1947-48, for which the accounting year was the calendar year 1946, the income-tax officer called upon the assessee to explain the possession of these 61 high denomination notes. the assessee submitted that they were received by him in the course of his business ..... that the said amount came from past remittances from ceylon out of the earnings of the family and from savings from agricultural property. the above explanation was rejected by the income-tax officer; and his finding was affirmed both by the appellate assistant commissioner and the appellate tribunal. the appellate assistant commissioner, however, held that the sum of rs. 3,000 invested .....

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Sep 05 1968 (HC)

Commissioner of Income-tax, Gujarat I Vs. Karamchand Premchand Private ...

Court : Gujarat

Decided on : Sep-05-1968

Reported in : [1969]74ITR254(Guj)

..... wholly and exclusively for the purpose of the assessee's business and as such allowable as a deduction under section 10(2) (xv) of the income-tax act, 1922, corresponding to section 37 of the present act. the assessee thereupon made an application to the tribunal for raising an additional ground of appeal challenging the disallowance of the third claim and this application ..... bhagwati, c.j.1. this references raises a rather important question affecting the jurisdiction of the tribunal under the provisions of the income-tax act, 1961. the reference arises out of an assessment made on the assessee for the assessment year 1964-65. the assessees is a private limited company and in the course ..... the explanation, the interpretation consistently placed by the high courts on the corresponding provisions of the old act was - vide narrondas manordass v. commissioner of income-tax, and this interpretation was confirmed by the supreme court in commissioner of income-tax v. mcmillan and co., and commissioner of income-tax v. shapoorji pallonji mistry 3 - that once an appeal is preferred by an assessee, the powers ..... does not say anything which helps in the determination of the present question. certain cash credits were added as undisclosed profits in the assessment of the assessee by the income-tax officer and the assessee challenged the addition before the appellate assistant commissioner without success. the assessee thereafter carried the matter in appeal to the tribunal but the tribunal did .....

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