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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 4 of about 650 results (0.085 seconds)

Oct 29 1968 (HC)

income Tax Officer, Kottayam Vs. R.M. Subramania Iyer S/O Ramasubha Iy ...

Court : Kerala

Decided on : Oct-29-1968

Reported in : AIR1970Ker14; [1970]77ITR453(Ker)

..... respondent seeking to quash a notice ext. p-1 purported to he under section 147 of the income-tax act, 1961 as well as a further notice ext. p-5 under section 143(2) of the same act. various contentions were raised before the learned single judge and had been considered by the single judge ..... pertain to the question as to whether a notice under section 147 can and should be issued; matters well within the jurisdiction and competence of the income-tax officer to decide.3. the assessee has filed a return in pursuance of the notice and has taken his objections as evidenced by ext. p-4 ..... assistant commissioner had 'instead of treating the assessment order as a nullity and having the same set aside, illegally remanded the case back to the income-tax officer to save limitation'. it would be noticed that at its highest, this ground can mean that the result of the remand order was to attempt ..... move the high court under article 226 and contend that a notice issued against him is barred by time. that is a matter which the income-tax authorities must consider on the merits in the light of the relevant evidence.apart from this aspect of the matter however, the plea of limitation ..... respondent no. 1 himself. the jurisdiction conferred on the high court under article 226 is not intended to supersede the jurisdiction and authority of the income tax officers to deal with the merits of all the contentions that the assessees may raise before them, and so it would be entirely inappropriate to permit .....

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Apr 05 1968 (HC)

Commissioner of Income-tax, Kerala, Ernakulam Vs. Travancore Sugars an ...

Court : Kerala

Decided on : Apr-05-1968

Reported in : AIR1969Ker196

..... supreme court was whether those amounts were allowable deductions. subba rao, j., as he then was, observed that under section 10(1) of the income-tax act, tax shall be payable by an assessee under the head 'profits and gams of business' in respect of profits and gains of any business carried on ..... is the business profits and not statutory profits. he further observed that the real profits of a businessman under section 10(1) of the income-tax act cannot obviously include the amounts returned by him by way of rebate to the consumers under statutory compulsion and that it is as if he ..... they reached the assessee by an overriding title and (2) whether the amount is an allowable deduction under section 10(2)(xv) of the income-tax act.6. the supreme court has held that the payment of the amount was not towards purchase price because the unpaid purchase price was neither ..... out of the real profits of the company. there is we must remember the distinction between apparent profit and real profit. what is taxed under the income-tax act is only the profits of the company calculated on commercial the privy council case of indian radio and cable communications co. ltd ..... and exclusively incurred for the purpose of the business and was an admissible deduction under section 10(2)(xv) of the income-tax act.12. in poona electric supply co. ltd. v. commissioner of income-tax, bombay, : [1965]57itr521(sc) the company carried on the business of distribution of electricity under a licence issued .....

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Jan 15 1968 (HC)

Commissioner of Income-tax Vs. Sakarlal Balabhai

Court : Gujarat

Decided on : Jan-15-1968

Reported in : [1968]69ITR186(Guj)

..... and similar devices on a substantial scale' that the english section was enacted. the same mischief also existed in india and, therefore, when the legislature made extensive amendments in the income-tax act in 1939, the legislature introduced section 44f to remedy such mischief. originally the bill did not include any clause corresponding to section 44e and 44f but at the stage of ..... are not material for the determination of the present controversy, section 44f follows closely, almost to a word, the corresponding section 33 of the english finance act, 1927 - replaced subsequently by section 237 of the english income tax act, 1952 - and, therefore, the observations made in regard to the object and purpose of the english section would be useful in understanding the reason for ..... bhagwati, c.j.1. this reference raises an interesting question of construction of section 44f of the income-tax act, 1922. the question is not free from difficulty arising as it does on one of the least happily drafted sections of an act not otherwise known for perspicuity. in order to appreciate the question it is necessary to notice the facts giving rise to ..... judges of the australian high court in deputy federal commissioner of taxation v. purcell. the section which came up for consideration in that case was section 53 of the income tax assessment act, 1915-16, which gave power to the revenue to avoid the transaction which had the purpose or effect of avoiding of any liability imposed on any person by that .....

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Aug 26 1968 (HC)

Panna Sanjay Trust Vs. Commissioner of Income-tax, Gujarat

Court : Gujarat

Decided on : Aug-26-1968

Reported in : [1969]74ITR396(Guj)

..... aspect of the question is concerned, is admittedly the same as the shame of the old income-tax act and these observations of the bombay high court though made in the context of the old income-tax act would have equal validity under the present income-tax act. wherever any income is excluded from chargeability to tax either expressly or by necessary implication arising from the scheme of the ..... it exclusion for the purpose of determination of rate. but this postulate is plainly incorrect and is contrary to the scheme of the income-tax act. the bombay high court, while examining the scheme of the old income-tax act, pointed out in commissioner of income-tax v. n. m. raiji : 'the scheme is that wherever one finds an exemption or exclusion from payment of ..... principle, there is also a decision of the bombay high court in trustees of chaturbhuj raghavji trust v. commissioner of income-tax, where the same view has been taken in regard to the construction of the corresponding section 41 of the income-tax act, 1922, which, so far as is material for the present purpose, was in almost identical terms with the ..... act or its provisions, exclusion operates in the computation of the total income not only for the purpose of liability to tax but also for the purpose of .....

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Oct 09 1968 (HC)

Bai Chandanben Jivanlal Vs. L.D. Joshi, Collector, Bhavnagar

Court : Gujarat

Decided on : Oct-09-1968

Reported in : [1969]74ITR448(Guj)

..... , 1951. during the time that the deceased was a partner of the said two firms as the said two firms were registered under section 26a of the income-tax act, 1922 (hereinafter referred to as the 'old act'). the deceased was assessed in the status of an individual as non-resident in some years us as resident in others. when the deceased retired from ..... of demand is not complied with, the assessee an be treated as a person in default and he is liable to pay a penalty equal to the tax debt under section 46(1) of the income-tax act. lastly, on the failure of the assessee to pay after a notice of demand is issued, the recovery proceedings an be started within a time limit ..... and the amount of tax an be treated as an arrear of land revenue. ................ the notice of demand is a vital document in many respects. disobedience to it makes ..... to them under rule 11, clause (6), of the second schedule to the act.17. we therefore allow the petition and make the rule absolute to the limited extent that a writ of mandamus shall issue quashing and setting aside the certificate of recovery forwarded by the income-tax officer to the additional collector, bombay, as also the recovery proceeding instituted against the .....

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Jan 29 1968 (HC)

K.M. Rahmath Bibi Vs. First Income-tax Officer, Nagapattinam

Court : Chennai

Decided on : Jan-29-1968

Reported in : AIR1969Mad208; [1969]72ITR73(Mad)

..... authorities in their judgments and they hold that the discretion conferred by section 45 of the income-tax act on the income-tax officer to treat the assessee, who has not paid the tax demanded, as not being in default, if he has preferred an appeal, was a power exercisable both against and in favour of the assessee ..... be in arrears. the petitioner's contention before us is that the respondent and the officers higher up failed to exercise their discretion properly under section 220(6) of the income-tax act, 1961. according to the petitioner, the conditions contemplated by this provision can only be furnishing of security and not instalmental payments of the arrears. on this view of the scope ..... placed on the following observations of viswanatha sastri, j., in the decision referred to:'lastly, it has to be observed that section 45, of the income-tax act is somewhat cryptic in its terms and merely gives the income-tax officer power to declare a person to be not in default pending the appeal. there is no provision for stay similar to order xli, rules ..... and we do not think it necessary to make extensive citation of authority in support. v. sreeramamurthy v. income-tax officer, vizianagaram, : [1956]30itr252(ap) deals with this question with reference to section 45 of the income-tax act, 1922, which corresponds to section 220 of the present income-tax act subba rao, c.j., (as he then was) and viswanatha sastri, j., refer to all the relevant .....

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Nov 28 1968 (HC)

Commissioner of Income-tax Vs. Narayanan and Vadivel thevar

Court : Chennai

Decided on : Nov-28-1968

Reported in : [1969]74ITR616(Mad)

..... the registration granted for 1960-61 was equally applicable to the period july 1, 1959, to march 31, i960. the tribunal further observed that whether section 25(1) of the income-tax act, 1922, applied or not, 'the year of any period ending on march 31, 1960, could never be the previous year for the assessment year 1961-62'. the tribunal rightly pointed ..... preceding the date of discontinuance or succession. the firm there had been assessed to tax under the indian income-tax act, 1918, its year of account being a period of 12 months ending june 30, of each year. its income for the accounting year ended june 30, 1938, was charged to tax in the assessment year 1939-40. the partnership business was transferred as a going ..... the period of 21 months should be assessed at the rate specified in the relevant finance act for that total income and the income-tax officer could not apply the rate applicable to the income of the last period of 12 months. repelling the contention that the income-tax officer could grant the sanction on condition that the assessee should have two previous years in respect of ..... said :' the section contemplates an assessment in addition to the assessment, if any, made on the basis of the income of the previous year. in this case the assessment having been made for 1960-61 and the income-tax officer having chosen to act under section 25(1) the assessment he makes from the end of the previous year to the date of discontinuance .....

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Dec 13 1968 (HC)

Commissioner of Income-tax Vs. S. Arumugham Pillai

Court : Chennai

Decided on : Dec-13-1968

Reported in : [1969]73ITR382(Mad)

..... agreement to share such profits as between the partners of the ' j ' firm is an internal arrangement, which could not be pressed for relief under the provisions of the indian income-tax act. according to him, the assessee earned the profits by reason of his accepted status as partner in the ' b ' firm and any collateral, anterior or posterior arrangement to divide the ..... , depends upon the true scope of the word ' income ' which is exigible to tax. it is not every income of an assessee but the real income earned by him in the commercial and normal sense, which enters into the magnitude of its monetary value. when section 10(1) of the indian income-tax act of 1922 prescribes that tax shall be paid by an assessee in respect of ..... the profits or gains of any business, profession or vocation carried on by him, it cannot be said that the word ' income ' has been deployed in the abstract and all notional income earned would also come within its mischief. thus, interpreting ..... under section 66(1) of the indian income-tax act, 1922, on an application by the department, arises out of an order of the tribunal which accepted the contention of the assessee, that, the share of profits received by him as partner of the firm, erode bleaching and finishing company, was not his real income, but was income which he was bound to share with .....

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Sep 11 1968 (HC)

P. Rm. S. Ramanathan Chettiar Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Sep-11-1968

Reported in : [1969]72ITR534(Mad)

..... the assessee's business of money-lending. at the instance of the assessee the following question has been referred to us under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the assessee is entitled to the allowance of rs. 5,321 under ..... section 10(2)(iii) of the income-tax act, 1922 ?'2. the contention of the assessee before us is two-fold: (1) that the expenditure by way of payment of interest on money borrowed ..... slightly different manner, namely, that the amount was invested in an asset which did not yield any income which could be taxed under the income-tax act. apparently, what he had in mind was that the share of income as and when due to the assessee from the firm was agricultural in character. whatever that be, ..... allowable deduction from the profits of another business, though both the businesses are carried on by the same assessee. milapchand r. shah v. commissioner of income-tax, : [1965]58itr525(mad) was a case in which a money-lending firm borrowed moneys on interest and made advances out of the borrowed moneys to ..... cloth shop. we do not think that the provision of section 10(2) intends or comprehends such an application. l. m. chhabda v. commissioner of income-tax, : [1967]65itr638(sc) to which our attention has been drawn, does not also bear on the precise question before us. this case is authority only .....

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Feb 09 1968 (HC)

Maud Tea and Seed Company Ltd. Vs. Agricultural Income-tax Officer and ...

Court : Guwahati

Decided on : Feb-09-1968

..... under that act to prescribe the proportions of income from business, and income from agriculture in the entire ..... of the income-tax act and has effect as if enacted in that act. when section 59 of the income-tax act provides for the rules made ..... this definition, one has to look to the definition of ' agricultural income' in the income-tax act and not to the rules made thereunder. we do not agree. 'agricultural income' as defined in the constitution means ' agricultural income for the purpose of the enactments relating to income-tax'. one such enactment is the income-tax act. rule 24 of the income-tax rules has been made under the powers conferred by section 59 .....

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