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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 2 of about 650 results (0.082 seconds)

Aug 22 1968 (HC)

The Commissioner of Income-tax, Gujarat-ii, Ahmedabad Vs. Arvind Narro ...

Court : Gujarat

Decided on : Aug-22-1968

Reported in : AIR1970Guj167; [1969]73ITR490(Guj)

..... income of the assessee for all the three assessment years. the asessee being aggrieved by the orders of the ..... income-tax officer, preferred appeals to the appellate assistant commissioner. the appellate assistant commissioner disagreed with the view taken by the income-tax officer and held that the ..... under the trust deeds and the entire income of the relevant account years was therefore receivable by the trustees on behalf of or for the benefit of the assessee and the assessee was liable to be assessed directly in respect of such income under section 166 of the income-tax act, 1961. the income- tax officer accordingly included the entire income of the three trusts in the total .....

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Mar 12 1968 (HC)

Kv. Al. M. Ramanathan Chettiar by Legal Representative C. Vasantha Vs. ...

Court : Chennai

Decided on : Mar-12-1968

Reported in : [1969]72ITR356(Mad)

..... it appears, he also owned rubber gardens in that foreign territory. the point in the reference turns on the proper application of section 49d of the income-tax act to the facts in each of the years. three questions have been formulated for the first year and two common questions for the next two years. ..... for determining total world income for the purpose of the indian income-tax act, the sum of rs. 39,142 comes into the ..... said to have suffered foreign income-tax besides the indian income-tax. that being the case, we fail to see how, by a mere jugglery of figures and the computation thereof, double income-tax relief be granted in respect of this sum which has suffered but one tax under the provisions of the indian income-tax act. it has been argued that ..... computation. that is perfectly true. but it does not follow from it that merely because it comes into the computation, it has also suffered double tax.6. ..... veeraswami, j.1. this common reference under section 66(1) of the indian income-tax act relates to the assessment years 1953-54 to 1955-56. the assessee, one kv. al. m. ramanathan chettiar, who is now dead .....

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Sep 02 1968 (HC)

Commissioner of Income-tax Vs. Anamalai Bus Transport (P.) Ltd.

Court : Chennai

Decided on : Sep-02-1968

Reported in : [1969]72ITR811(Mad)

..... necessarily be kept in view. it may be noted that the levy of penal-super-tax under section 23a is not an assessment of the total income to tax in the normal sense of the income-tax act. it follows, therefore, that considerations which may govern assessment of total income to income-tax, particularly in the matter of deductions and allowances, may not in their full vigour and ..... . for one thing, what is done under section 23a is not a regular assessment. further, the computation of the total income for purposes of that section is not, so to speak, controlled or limited by the specific provisions of the income-tax act relating to assessment of profits and gains. furthermore, ' reasonableness ' has to be judged with reference to all relevant circumstances ..... scheme apply to a determination of the total income for purposes of section 23a. but we are ..... veeraswami, j. 1. this reference is concerned with the propriety of the super-tax levied on the profits withheld by the assessee in excess of the permissible limits under section 23a of the income-tax act, 1922. the question will turn on whether a sum of rs. 1,03,445 donated by the assessee during the assessment year 1959-60, to nachimuthu industrial .....

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Nov 22 1968 (HC)

Commissioner of Income-tax, Bombay Vs. Balvantrai S. Jain

Court : Mumbai

Decided on : Nov-22-1968

Reported in : [1969]72ITR59(Bom)

..... that fact. the words 'omission or failure to disclose fully and truly all material facts' in clause (a) of section 34(1) of the income-tax act cover only the case where the assessee knowing all the material facts does not mention them fully and truly, in other words, where he deliberately withholds ..... rs. 93,895 had been included in the assessee's for the year 1944-45, action was taken under section 34(1) (a) of the income-tax act and notice was issued against the assessee on 24th january, 1950. in compliance with this notice the assessee filed his return on 26th april, 1950, ..... wide language as follows : 'whether, on the facts and in the circumstances of the case, the proceedings initiated under section 34 of the indian income-tax act for the assessment year 1944-45 were valid ?' the short point that we have to decide in this reference is whether, on the facts and ..... material facts, the material facts, as explained above, have to be disclosed but not the conclusions or inferences : see calcutta discount co. ltd. v. income-tax officer, companies district i, calcutta. at page 201 they held : 'once all the primary facts are before the assessing authority, he requires no further assistance ..... wrote a letter dated april 24, 1950, objecting to the notice and the proceedings commenced against him. the assessee's accountants pointed out that the income-tax officer had been fully acquainted with the existence of the assessee's partnership with messrs. tejoo kaya & co. in the course of the previous .....

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Nov 14 1968 (HC)

Laxmidas and Co. Vs. Commissioner of Income-tax, Bombay

Court : Mumbai

Decided on : Nov-14-1968

Reported in : [1969]72ITR88(Bom)

..... receipt, according to the appellate assistant commissioner was chargeable in accordance with the provisions of section 4(1) of the income-tax act. the appellate assistant commissioner accordingly dismissed the assessee's appeal. the assessee took a second appeal to the income-tax appellate assistant commissioner, were repeated before the tribunal. in addition, it was urged before the tribunal that the action under ..... that if it was, it was exempt from taxation under the provisions of the income-tax act. in the absence of such proof, the income-tax officer is entitled to treat it as taxable income.' 33. in a. govindarajulu mudaliar v. commissioner of income-tax it was held as follows : 'where an assessee fails to prove satisfactorily the source and nature of certain amounts of ..... by dissolution or otherwise, the firm can be treated as continuing so far as the assessment of its pre-dissolution income is concerned, and the assessment or reassessment of such a firm, after dissolution, under section 44 of the indian income-tax act, could be made in the same manner under chapter iv as if it had not discontinued its business. it ..... brought into the taxable territories during the year of account and, therefore, taxable under section 4(1) (b) (iii) of the act. the income-tax officer, therefore, brought the entire amount of rs. 1,75,000 to tax. the assessee appealed to the appellate assistant commissioner. several contentions were raised by it before him. it was contended that the notice of .....

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Dec 18 1968 (HC)

Blue Star Engineering Co. (Bombay) (P.) Ltd. Vs. Commissioner of Incom ...

Court : Mumbai

Decided on : Dec-18-1968

Reported in : [1969]73ITR283(Bom)

..... the companion reference no. 102 of 1968 relating to the correctness of the rectification of the assessment order for the assessment year 1954-55 under section 154 of the indian income-tax act. we have already mentioned the facts relating to the said question which is as follows : 'whether, on the facts and in the circumstances of the case, it was competent to ..... , argued that the service of a notice under section 43 is a condition irritant to the initiation of an assessment proceeding against an agent under section 43 of the indian income-tax act. 18. we do not think that the contention raised by mr. mehta is sustainable. having regard to the scheme of sections 42 and 43, if the requirements of section 42 ..... this court. the question raised on the said reference is 'whether, on the facts and in the circumstances of the case, it was competent to the income-tax officer to ratify under section 154 of the income-tax act, 1961, the original assessment order dated 31st march, 1959 ?' 4. mr. mehta for the assessee has, therefore, stated that in view of the matter raised on ..... to be ratified having been record in the appellate order of the appellate assistant commissioner and of the income-tax appellate tribunal, the income-tax officer was not competent to rectify the same. secondly, it was urged that the income-tax officer's jurisdiction under section 154 of the income-tax act, 1961, only extends to the amendment of the order and not to the cancellation thereof. the rectification .....

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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 .....

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Nov 18 1968 (HC)

W.T. Suren and Co. (P.) Ltd. Vs. Commissioner of Income-tax Bombay-1

Court : Mumbai

Decided on : Nov-18-1968

Reported in : [1971]80ITR602(Bom)

..... four assessment years were not in the nature of capital expenditure and were admissible under the provision of section 10 (2) (xv) of the income-tax act. we answer the new question which we have framed (and which we have renumbered as b above) in the negative. the commissioner shall pay ..... determine for himself whether the remuneration paid to the employee or any portion thereof was properly deducted under section 10 (2) (xv) of the income-tax act.' 25. their lordships made this remark with reference to an assessee's contention, but it is clear that the principle applies equally to the department ..... four assessment years were in the nature of capital expenditure and as such inadmissible under the provisions of section 10 (2) (xv) of the income-tax act b. whether the payments to the two ex-employees did not represent expenditure wholly and exclusively laid out for the purposes of the assessee-company's ..... , as it is worded merely possess the question whether the expenditure was inadmissible under the provisions of section 10 (2) (xv) of the income-tax act because the payments were in the nature of capital expenditure and nothing else. it does not raise the question whether apart from the fact that ..... four assessment years were in the nature of capital expenditure and as such inadmissible under the provisions of section 10 (2) (xv) of the income-tax act ?' 14. the first question, as we have already said, we answered in favour of the department and therefore called for a fresh statement of .....

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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 .....

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Feb 05 1968 (HC)

Shri Laxmi Printing and Dyeing Works Pvt. Ltd. Vs. Commissioner of Inc ...

Court : Mumbai

Decided on : Feb-05-1968

Reported in : [1968]70ITR148(Bom)

..... j.1. the short question raised on this reference under section 66(2) of the indian income-tax act relates to the claim of the assessee to set off its unabsorbed depreciation of the past years against the assessable income of the assessment year 1958-59 with which we are concerned. 2. the assessee is a ..... hired or even lent by the customer for the purpose of carrying out his orders would not change the nature of the business activity. in commissioner of income-tax v. national mills co. ltd. a company, which was carrying on the business of manufacturing textiles, went into liquidation and the liquidator let the plant ..... on the machines of another and, consequently, the business could not be said to be the same kind of business. the view taken by the income-tax officer, that the business carried on in the previous year was not the same kind of business as was done in the assessment year, was accepted ..... work of the bhor industries limited which was a special kind of work, and had sold off practically the whole of its own machinery that the income-tax officer held that the assessee did not carry on in the assessment year the same business which it had carried on in the earlier years and ..... profit against the amount of the unabsorbed depreciation of the past years amounting to rs. 73,404. the claim, however, was not accepted by the income-tax officer, who took the view that the business which the assessee had carried on during the assessment year was not the same business which it had carried .....

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