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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 4 of about 650 results (0.088 seconds)

Dec 19 1968 (HC)

Commissioner of Income-tax Vs. R. Dwarkadas and Co.

Court : Mumbai

Decided on : Dec-19-1968

Reported in : [1971]80ITR283(Bom)

..... and they had joined in putting it forward along with other partners for registration, it was admissible for registration under the indian income-tax act (see ramlal murlidhar v. commissioner of income-tax, [1930] 5 i.t.c. 150. there is no dispute here that the partnership of which the erstwhile minor was ..... in which a minor was admitted as a full-fledged partner, was not valid and could not be registered under section 26a of the indian income-tax act. it is, therefore, contended on behalf of the department that the basis of the decision of the appellate assistant commissioner and the tribunal ..... of the case, and on the basis of annexures 'a' and 'b' the respondent-firm is eligible for registration under section 26a of the income-tax act, 1922?'2. up to the 6th of july, 1951, a business was carried on in partnership by three persons named premji, kamalben and ramankant ..... any defect whatsoever. for the year of account, therefore,, there was a validly constituted firm in operation and the documents presented before the income-tax officer could be regarded as an instrument under which the firm was validly constituted. in our opinion, therefore, although the basis on which ..... as to the second year, viz., 1956-57, the position is still stronger for the assessee. the documents, which were presented before the income-tax officer as constituting the instruments of partnership, were the original partnership deed and the subsequent document executed on 24th february, 1955. by this document .....

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Oct 16 1968 (HC)

L.B. Belamkar Vs. Commissioner of Income-tax Mysore

Court : Karnataka

Decided on : Oct-16-1968

Reported in : ILR1968KAR1124; [1969]73ITR131(KAR); [1969]73ITR131(Karn)

..... was saved from the bar of limitation under the second proviso to section 34(3) of the income-tax act. for the first time the department advanced a new argument before the supreme court that in answering that question the effect of section 2 of the income-tax (amendment) act, 1959, should be taken into consideration and that that aspect was within the framework of the ..... action could when the assessee received from government compensation for such loss be properly included in the income of the assessee. such inclusion was possible only under the fourth proviso to section 10(2) (vii) of the income tax act. but that proviso was not in the act on april 1, 1946, but came into effect only on may 4, 1946, and was not retrospective ..... the previous year with respect to income from undisclosed sources is the relevant financial year and not the year of accounting of the assessee if it is ..... the order of the tribunal, our decision on that question of law should be that the income from undisclosed sources was the income of the assessee for the assessment year 1958-59, and not of the assessment year 1959-60. 5. section 2(11) of the indian income-tax act, 1922, which is the relevant statutory provision applicable to this case, makes it clear that .....

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Jul 05 1968 (HC)

income-tax Officer, Masulipatnam and anr. Vs. K. Srinivasa Rao

Court : Andhra Pradesh

Decided on : Jul-05-1968

Reported in : AIR1969AP441

..... new assessment of nagabhushanam by including an income of rupees 67,214 representing his 1/3rd share of the firm's ..... was completed ex parte on 25-8-1952 fixing the total taxable income of the firm at rs. 2,01,642. there were appeals preferred against this order but they are not material for the consideration of the present petition. the income-tax officer purporting to act under section 35 of the income-tax act, 1922 issued a notice dated 27-1-1956, proposing to rectify the ..... (5) of the act to revise ..... income for the assessment year 1948-49. objections were raised by the assessee to the jurisdiction of the income-tax officer under section 35 .....

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Dec 30 1968 (HC)

Commissioner of Income-tax Vs. Trustees of H.E.H. the Nizam's Miscella ...

Court : Andhra Pradesh

Decided on : Dec-30-1968

Reported in : [1969]74ITR558(AP)

..... again on the basis that the assessee had not made out that the agreement to grant the loan was not subject to the condition that it was free of income-tax under the indian income-tax act. we have already stated that not only the decision of the supreme court deals with both the questions, one of which pertains to the grant of the identical ..... trust. the question for consideration that arose was (at page 679) whether the 1 per cent. loan is a state government security within the meaning of section 8 of the income-tax act. the answer to this question is at page 680 where subba rao j. (as he then was), delivering the judgment of the court, held in these words : ' with the aid ..... by the constituent assembly. in other words, the nizain and the military governor were both aware that after the applicability of the constitution to the state of hyderabad, the indian income-tax act would be made applicable and it is in contemplation of this contingency that the correspondence and the agreement took place. even after the promulgation of the constitution, the chief minister ..... , and secondly, that even if it is not taxable, as at the time when it was granted, the income-tax that was in the contemplation of parties was the hyderabad income-tax act, since the indian income-tax actsubsequently became applicable, the said loan cannot foe free from income-tax unless there was notification published by the government. the assessee's contention that the loan was to the state .....

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Jul 03 1968 (HC)

Kishanlal Haricharan Vs. Income-tax Officer, A-ward

Court : Andhra Pradesh

Decided on : Jul-03-1968

Reported in : [1969]72ITR234(AP)

..... simple reason that it turns a blind eye to the true nature and effect of the order passed by the commissioner of income-tax under section 33a of the income-tax act, on august 31, 1955, and the consequential order passed by the income-tax officer, bombay, on january 29, 1963. even a bare reading of the commissioner's order shows that the revision was entertained by ..... assessment year 1950-51 was completed on october 30, 1953, wherein it was specifically mentioned that the assessment order was subject to rectification under section 35 of the income-tax act, 1922, as the share income belonging to the assessee in several firms including the firm of m/s. sriram haricharandas, bombay, were not available at that time.5. the assesment of the firm ..... firm preferred a revision application, r.p.c. no. 6 of 1955-56, under section 33a of the income-tax act, 1922, to the commissioner of income-tax, bombay, and the latter passed the following order on august 31, 1955 :' order under section 33a(2) of the income-tax act. this revision petition is in respect of the assessment made on the firm of sriram haricharandas of bombay ..... records relating g. i. no. k. 205/50-51 and quash the rectification order passed on march 16, 1965, by the respondent, namely, the income-tax officer, 'a' ward, nizamabad, under section 35(5) of the indian income-tax act, 1922.2. two grounds are taken in this writ petition and they are :(1) that inasmuch as the notice under section 35(5) of the .....

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Jan 12 1968 (HC)

Commissioner of Income Tax, U.P. Vs. Bharat Engineering and Constructi ...

Court : Allahabad

Decided on : Jan-12-1968

Reported in : AIR1969All188

..... j. 1. this is an application under section 66(2) of the indian income tax act, 1922 (hereinafter referred to as the act), m/s. bharat engineering and construction company is the assessee. the assessment year is 1944-45. under section 34 read with section 23(3) of the act the income tax officer made the assessment. in making the assessment certain receipts of the assessee ..... assessee's claim, two items of rs. 2,50,000/- and 40,000/- were excluded from the assessee's income, the commissioner of income tax, u. p., filed before the appellate tribunal an application under section 66(1) of the act requesting for reference of two questions of law to this court. the application was dismissed by the appellate tribunal. the commissioner ..... of income tax, u. p., hasfiled the present application in this court under section 66(2) of the act.2. we may mention at the outset that the appellate tribunal accepted the assessee's claim with respect to two separate items for ..... were treated as income. the assessee protested that these items did not constitute income of the assessee. when the matter went before the income tax appellate tribunal, bombay bench at allahabad, the appellate tribunal partly accepted the .....

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May 24 1968 (HC)

Jawahar Lal Mani Ram Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : May-24-1968

Reported in : [1969]72ITR78(All)

..... the assessment proceedings for the assessment years 1946-47, 1947-48, 1948-49 and 1949-50 a claim was made under section 25a of the indian income-tax act, 1922, that the hindu undivided family had disrupted with effect from may 19, 1945, giving rise to smaller hindu undivided families. one of such smaller ..... instance of the assessee the tribunal referred the following question to this court for its opinion : ' whether the assessments made under section 34 of the income-tax act for the assessment years 1946-47, 1947-48, 1948-49 and 1949-50 were bad in law, as they were made after the expiry of the ..... a bench of this court. the bench considered it necessary to reframe the question as follows : ' whether the assessments made under section 34 of the income-tax act for the assessment years 1946-47, 1947-48, 1948-49 and 1949-50 were bad in law, as they were made after the expiry of ..... arise in the case and accordingly we have framed the following two questions : '(1) whether it was open to the income-tax officer to issue notices under section 34 of the income-tax act, 1922, for the assessment years 1946-47 to 1949-50 and make assessmentin pursuance of the notices in spite of the ..... belonged to the same category and therefore required equal treatment. this court pointed out that section 34 of the indian income-tax act and sub-section (4) of section 5 of the impugned act dealt with persons who had similar characteristics and properties and therefore a different treatment of some out of the same .....

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Mar 12 1968 (HC)

Badrilal Bholaram Vs. B.K. Srivastava, Income-tax Officer

Court : Madhya Pradesh

Decided on : Mar-12-1968

Reported in : [1970]77ITR954(MP); 1969MPLJ594

..... 4. this application must fail on the short ground that the discretion to treat an assessee as not being in default has to be exercised by the income-tax officer under section 45 of the income-tax act, 1922, on the material before him, and this court cannot substitute its own discretion by issuing any writ or direction under article 226 of the ..... other evidence and to satisfy him that any ground exists for granting them relief under section 45 of the income-tax act. the books of accounts produced by the petitioners were scrutinised by the income-tax officer in their presence. the following observations from the income-tax officer's order clearly show that he has applied his mind to the requirements of the section :'it ..... a request for staying the demand, but the authorities declined to interfere. , thereafter, the petitioners again applied to the income-tax officer under section 45 of the income-tax act, 1922. the income-tax officer called upon the petitioners to appear before him with their books of accounts on 25th february, 1965, and produce such other evidence as desired which would substantiate ..... bholaram, indore, and its partners, apply to this court for a writ of certiorari for quashing an order of the income-tax officer, special investigation circle, indore, dated 27th february, 1965, rejecting their application under section 45 of the income-tax act, 1922 (act no. xi of 1922), and for a writ of mandamus requiring him to forbear from enforcing the demands raised by him .....

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Aug 13 1968 (HC)

Jhandu Mal Tara Chand Rice Mills Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Aug-13-1968

Reported in : [1969]73ITR192(P& H)

..... the fact that the assessee had not kept any register from day to day about the consumption of raw cotton and production of ginned cotton, the income-tax authorities applied the proviso to section 13 of the income-tax act. it was held by this court that there was sufficient material in the case for invoking the provisions of the proviso to section 13. in ..... had been mostly purchased by the assessee-firm during the months of october to december, 1957, when the paddy was highly moist. the income-tax officer applied the proviso to section 13 of the indian income-tax act, 1922 (hereinafter called the act), and after rejecting the accounts of the assessee-firm, determined the yield of rice as 26 seers per maund of paddy, thereby adding ..... profits on other basis and not for the assessee to prove that his method of accounting ought not to be rejected. in that case, the income-tax authorities had applied the proviso to section 13 of the indian income-tax act on the ground that the assessee had not maintained a variety-wise stock register, as a result of which, the stock position could not ..... question of law arose out of its order. in cases involving the applicability of the proviso to section 13 of the indian income-tax act, 1922, the question to be determined by the income-tax officer was a question of fact, namely, whether the income, profits and gains could or could not be properly deduced from the method of accounting regularly adopted by the assessee. there .....

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Aug 21 1968 (SC)

BaladIn Ram Vs. Commissioner of Income-tax, Uttar Pradesh

Court : Supreme Court of India

Decided on : Aug-21-1968

Reported in : AIR1969SC351; [1969]71ITR427(SC); [1969]1SCR800

..... be assessed or reassessed is to make the assessment during the ordinary financial year.5. mr. manchanda has called our attention to section 68 of the income-tax act, 1961, according to when where any sum is found credited in the books an assessee maintained for any previous year and the assessee offers no explanation about the nature and ..... ). on february 20, 1945, the income-tax officer made an assessment on a total income of rs. 26,800 odd which comprised income from the share in the business of kasi iron foundry and the income from the property. this order was revised under section 34 of the indian income-tax act, 1922, hereinafter called the act. in the revised assessment order the total income of the assessee was computed ..... at rs. 71,731. in this amount a sum of rs. 40,000 was included as income from undisclosed sources. this assessment was challenged before the appellate tribunal, and was set aside on ..... year relevant for the assessment year 1944-45 and were not made in the financial year relevant for the assessment year 1945-46. the income tax officer had, therefore, no choice but to resort to section 34 of the act.' 2. the tribunal, however, found, as is apparent from its order dated march 21, 1957, that the unexplained investment which was really the .....

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