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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 13 of about 650 results (0.114 seconds)

Oct 11 1968 (HC)

P.M. Bharucha and Co. Vs. G.S. Venkatesan Income-tax Officer, Circle I ...

Court : Gujarat

Decided on : Oct-11-1968

Reported in : [1969]74ITR513(Guj)

..... of indian did not find place in the patiala act. the commissioner, when he transferred this case, referred not to the patiala income-tax act, but to the indian income-tax act, and it is contended that if the patiala income-tax act was in force for purposes of reassessment action should have been taken under that act and not the indian income-tax act. this argument however loses point, because the exercise of ..... by an assessment order, dated 30th may, 1951. the petitioner-firm not having applied for registration was not registered under section 26a of the income-tax act, 1922 (hereinafter referred to as 'the old act'), but the income-tax officer being of the opinion that it was more advantageous to the revenue to proceed under section 23(5) (b), treated the petitioner-firm, though unregistered, ..... name in which the business is carried on is called the firm came. it is undoubtedly true that for the purpose of the income-tax act the firm is an assessable entity but the definition of 'partnership' incorporated in the income-tax act shows that a firm is not a legal entity; it is not a juristic person distinct from its partners. a firm is merely ..... we may usefully refer only to one decision, and that is the decision of the supreme court in l. hazari mal v. income-tax officer. the commissioner of income-tax in that case, purporting to act under section 5(5) and 5(7a) of the indian income-tax act, made an order on november 4, 1953, that the assessment of the assessee-firm would be done by the .....

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Oct 03 1968 (HC)

Commissioner of Income-tax, Gujarat Ii Vs. Alembic Glass Industries Lt ...

Court : Gujarat

Decided on : Oct-03-1968

Reported in : [1969]71ITR752(Guj)

..... expended wholly and exclusively for the purposes of such business, profession or vocation.' 3. the proviso to clause (xv) is not relevant for the purposes of this judgment. under the income-tax act of 1961, which came into force from april 1, 1962, i.e., for the assessment year 1962-63, the relevant section is section 37. sub-section (1) of section 37 ..... divan, j.1. in this reference two assessment years are involved and this joint reference had been made under section 66(1) of the income-tax act, 1922, and section 256(1) of the income-tax act, 1961. the assessment years are 1961-62 and 1962-63, the corresponding previous years being the calendar years 1960 and 1961. the assessee is a company manufacturing glassware; and it ..... . 3,489 was revenue expenditure ?' 2. the law applicable to the assessment for the assessment year 1961-62 is the income-tax act, 1922, and the relevant section of that act is section 10(2)(xv), which provided as follows : '10. (1) the tax shall be payable by an assessee under the head 'profits and gains of business, profession or vocation' in respect of the ..... with the assessment year 1962-63. thereafter, the assessee-company went in appeal before the appellate assistant commissioner and that officer dismissed both the appeals confirming the view of the income-tax officer that the sums which had been disallowed were items of capital expenditure. thereafter, the assessee-company took the matter in further appeal to the tribunal and the tribunal directed .....

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Aug 30 1968 (HC)

D.M. Manasvi Vs. Commissioner of Income-tax, Gujarat Ii

Court : Gujarat

Decided on : Aug-30-1968

Reported in : [1969]72ITR17(Guj)

..... and 1962-63. so far as the assessment years 1959-60 and 1960-61 were concerned, the assessee was initially assessed under section 23 of the income-tax act, 1922. however, the income-tax officer subsequently found that the income from the business, which was carried on in the name of m/s. kohinoor grain mills sales depot, was not included in the returns filed by ..... satisfaction of the officer concerned under section 28(1) during the pendency of the main proceedings. 13. in anant ram kanhaiyalal v. commissioner of income-tax, the allahabad high court pointed out that section 28(3) of the income-tax act, 1922, nowhere requires the issue of a notice to show cause against the imposition of a penalty. such a notice not being prescribed under ..... the facts and in the circumstances of the case, the proceedings for the imposition of penalty were properly commenced in the course of any proceedings under the act as required by section 271 of the income-tax act, 1961, for the assessment years 1959-60 to 1962-63 (2) whether, on the facts and in the circumstances of the case, there was any material ..... notice on october 7, was the first step taken in connection with the penalty proceedings. 18. in chennuru venkataramanaiah chetty & bros. v. income-tax officer, the andhra pradesh high court held that the notice under section 28 of the income-tax act, 1922, for the imposition of penalty, which was issued to the petitioner on march 21, 1952, the date on which the assessment proceedings .....

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Dec 20 1968 (HC)

Late R. Sridharan by Legal Heirs Mrs. Rosa Marie Stenbchler and Minor ...

Court : Chennai

Decided on : Dec-20-1968

Reported in : AIR1970Mad249; [1969]73ITR360(Mad)

..... the tribunal therefore, was in error in holding that there was no hindu undivided family of sridharan and his eon whereby the assessee could claim to be assessed and taxed as such either under the income-tax act, wealth tax act or the expenditure tax act we therefore, answer the question in the affirmative and in favour of the assesses with costs. counsel's fee rs. 250. ..... out and stated succinctly thus:"..... under the hindu system of law a joint family may consist of a single male member and widows of deceased male members, and the income-tax act does not indicate that a hindu undivided family as an assessable entity must consist of at least two male members."in the case under consideration, nicolas sundaram has to be ..... law of hindus by legislation. it has to be stated at the outset that certain doctrines of hindu law though seemingly inconsistent with the spirit and scheme of the income tax act, yet a possible reconciliation can be made when a seeming or apparent conflict arises and find whether the intention of the legislature when it enacted the fiscal enactment was ..... the circumstances of the case, the assessee and his son constituted a hindu undivided family for purposes of assessment under the income tax, wealth tax and expenditure tax acts."2. the tribunal passed a consolidated order in the appeals against the assessments respectively made under the income-tax act and wealth tax act for the assessment years 1960-61 and 1961-62 and against the assessment under the expenditure .....

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Feb 14 1968 (HC)

T.S. Baliah Vs. T.S. Rangachari

Court : Chennai

Decided on : Feb-14-1968

Reported in : AIR1969Mad145

..... the matters specified in list i or list ii. the indian income-tax act comes under item 82 in list i "taxes on income other than agricultural income". the purpose of the enactment of income-tax act is to assess and collect tax on income and to enforce the provisions of the said act, to achieve the said purpose. the income-tax act created offences of its own providing punishments in respect of certain ..... repealed by the enactment of section 52 of the income-tax act, 1922, and secondly, the prosecution under section 52 of the income-tax act of 1922, is also incompetent as the income tax act of 1961 repealed the earlier act of 1922 and the proceedings in respect of prosecutions under the income-tax act of 1922 were not saved by the repealing act of 1961. in respect of the fourth complaint, ..... any other enactment like the indian penal code in respect of the same matter, it could have said so specifically that the prosecution is not only barred under the income-tax act but also under any other law. in the absence of such a provision, it is reasonable to infer that the intention of the legislature hi creating offence under section ..... it has, therefore, to be considered whether the subject-matter of both the enactments is the same and if so, whether the later statute namely, section 52 of the income-tax act had taken away the entire subject-matter of section 177, i.p.c. before we consider the repugnancy or incompatibility between these two provisions. to determine whether a later statute .....

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Jun 24 1968 (HC)

Commissioner of Income-tax Vs. P.N.N. Bank Ltd.

Court : Chennai

Decided on : Jun-24-1968

Reported in : [1969]39CompCas287(Mad); [1969]72ITR497(Mad)

..... in its appeal before the tribunal objected to the competency to re-open the assessments for the first four years under section 34 of the income-tax act. on the view it took the tribunal thought it was unnecessary to deal with the matter. now that the reference has been answered against the ..... was right in holding that the assessee was a public company within the meaning of the explanation to section 23a of the income-tax act '4. there is before us also a further question which is in the nature of a preliminary objection to the validity of the reference, viz ..... that the tribunal thought that the assessee was a public company in which the public were substantially interested within the meaning of section 23a of the income-tax act. in the circumstances, the following question has been referred to us ;' whether, on the facts and in the circumstances of the case, the tribunal ..... and shall not exceed five per cent. of the total voting rights of all the members.'8. section 23a of the income-tax act provides for power to assess companies to super-tax on undistributed income in certain cases. subsection (9) is:' (9) nothing contained in this section shall apply to any company in which ..... mr. swaminathan, for the assessee, refers to the form prescribed under section 66(1) and the terms of section 61 of the income-tax act and contends that the two, read together, would suggest that the commissioner does not have the privilege of having an authorised representative, while an assessee .....

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Dec 16 1968 (HC)

Sundaram Industries Private Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Dec-16-1968

Reported in : [1969]74ITR243(Mad)

..... , on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the first proviso to section 12b(2) of the income-tax act, 1962, cannot be invoked by the department for the purpose of assessment to capital gains of the sum of rs. 62,404.2. as to the first ..... veeraswami, j.1. the substantial question relates to the application of the first proviso to section 12b(2) of the income-tax act, 1922, to the facts and we are of the view that the tribunal was right in holding that the proviso has no ..... full value of the consideration for which the sale, exchange, relinquishment or transfer is made shall, with the prior approval of the inspecting assistant commissioner of income-tax, be taken to be the fair market value of the capital asset on the date on which the sale, exchange, relinquishment or transfer took place.'5. ..... asset from the assessee, whether by sale, exchange, relinquishment or transfer, is a person with whom the assessee is directly or indirectly connected, and the income-tax officer has reason to believe that the sale, exchange, relinquishment or transfer was effected with the object of avoidance or reduction of the liability of the assessee ..... real one and has been acted upon. but the connection directly or indirectly between the vendor and purchaser may serve as the starting point for a probe as to the motive for the transaction. if in the search for the motive in the light of tangible material the income-tax officer is of opinion that .....

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Mar 01 1968 (HC)

V. Vr. N. Vr. Nagappa Chettiar and anr. Vs. Union of India (Uoi)

Court : Chennai

Decided on : Mar-01-1968

Reported in : [1969]72ITR255(Mad)

..... confirmed in appeal by the learned district judge of madurai. the defendant-appellant again presses in this second appeal the two contentions referred to.2. section 67 of the indian income-tax act, 1922, bars the jurisdiction of the civil court in so far as any relief sought in the civil court seeks to set aside or modify any assessment made under the ..... suit. the defences of the appellant in so far as they survive for consideration in this second appeal were that the suit is barred by section 67 of the indian income-tax act and that the suit is also barred by limitation. these contentions were negatived by the trial court, which granted a decree in favour of the plaintiff, the union of india ..... cuts it down from the period of 60 years provided for by article 149 to the period of one year contemplated by section 46(2) of the income-tax act. section 29(2) of the limitation act reads :' where any special or local law prescribes for any suit, appeal or application a period of limitation different from the period prescribed therefor by the first ..... covered by article 149 is not indicated therein. any suit by a government is comprehended therein. after the assessment creates a liability, the notice issued under section 29 of the income-tax act fixes the date before which payment should be made. if no date is specified in the form of demand issued under section 29, section 45 of the .....

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Jun 25 1968 (HC)

Commissioner of Income-tax Vs. Janab N. Hyath Batcha Sahib

Court : Chennai

Decided on : Jun-25-1968

Reported in : [1969]72ITR528(Mad)

..... business, he sought the assistance of the other partner in achieving that object. no doubt, a partnership is treated as an entity for certain purposes, as for instance by the income-tax act for purposes of assessment of firms of partnership or the code of civil procedure for purposes of procedural matters or the law merchant. but barring the exceptional cases of limited ..... section 10(2)(vii) to apply there must be a sale of goods. though the concept is not defined in the income-tax act, it is now established by liquidators of pursa ltd. v. commissioner of income-tax, : [1954]25itr265(sc) . and commissioner of income-tax v. dewas cine corporation, [1968] i.t.r. 240.that the word ' sale ' has been used in section 10(2)(vii ..... .1. the question in this reference relating to the assessment year 1960-61 is whether a sum of rs. 12,442 was liable to be assessed to tax under section 10(2)(vii) of the income-tax act, 1922, till the year ended march 31, 1959, the assessee was carrying on business in forest contracts. for purposes of that business, he owned three lorries ..... agreement does not negative a sale of goods. we are clearly of opinion that the contention is not correct.4. after all, the income-tax act charges income, profits and gains made by an assessee. we fail to see what income, profit or gain the assessee made only by handing over the lorries to the firm. the debit in the purchase account and the credit .....

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Jun 27 1968 (HC)

Commissioner of Income-tax Vs. G. Murugesan and Brothers

Court : Chennai

Decided on : Jun-27-1968

Reported in : [1969]72ITR696(Mad)

..... and deposits. on these findings it cannot be held that the three widows had the status of an association of persons within the meaning of section 3 of the indian income-tax act.'9. it is pointed out for the assessee that at the same time, earlier in the same judgment, the supreme court approved the tests laid down by dwarakanath harischandra pitale ..... and deposits. on these facts, the supreme court held that the three widows had not the status of an association of persons within the meaning of section 3 of the income-tax act. dwarakannatk harischandra pitata, in re related to persons inheriting immovable property in equal shares under a will and the legatees jointly managing the properties. beaumont c.j. and blackwell j ..... affairs continued. the tribunal thought that there was nothing to show exercise of volition by the brothers to form themselves into an association of persons.5. section 3 of the income-tax act mentions association of persons as one of the categories of persons, who should be assessed on his or their appropriate status. though the expression ' association of persons' is not a ..... veeraswami, j.1. this question turns on the status of the assessee. the reference which comes before us at the instance of the commissioner of income-tax under section 66(1) of the income-tax act, 1922, relates to the assessment years 1957-58 to 1962-63. the question under reference is:' whether, on the facts and in the circumstances of the case, the department was .....

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