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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 7 of about 650 results (0.127 seconds)

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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Feb 08 1968 (HC)

Commissioner of Income-tax Vs. Ashok Leyland Ltd.

Court : Chennai

Decided on : Feb-08-1968

Reported in : [1969]39CompCas180(Mad); [1969]72ITR137(Mad)

..... the termination of the agreement was necessary only to implement the programme. he rightly formulated two tests as envisaged under section 10(2)(xv) of the indian income-tax act, 1922, namely, (1) the expenditure must not be capital, and (2) the expenditure must be laid out wholly and exclusively for the purposes of ..... it was, therefore, held that the payment was not an item of capital expenditure within the meaning of section 10(2)(xv) of the income-tax act. here again reliance was placed on the dicta of b. w. noble ltd. v. mitchell, : [1955]27itr34(sc) , assam bengal cement co. ltd. ..... company could be claimed as a deduction under section 10(2)(xv) of the income-tax act. the learned judges also held that it is not necessary for expenditure to be allowable under section 10(2)(xv) of, the income-tax act that there should be any direct correlation in point of time between the expenditure ..... the managing agency agreement is chargeable to revenue and, therefore, an allowance deductible under section 10(2)(xv) of the indian income-tax act, 1922. the question referred is, therefore, answered in favour of the assessee and in the affirmative with costs. counsel's fee rs. 250. ..... in sugar refining incurred expenses in a propaganda campaign to oppose the threatened nationalisation of the industry. the commissioners for the general purposes of the income tax found that the sum in question was money wholly and exclusively laid out for the purposes of the company's trade and was an admissible .....

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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 12 1968 (HC)

Commissioner of Income-tax Vs. Madras Palayakat Company Private Ltd.

Court : Chennai

Decided on : Dec-12-1968

Reported in : [1969]74ITR642(Mad)

..... and that turns on the interpretation of section 20(7)(a) read with section 45(4)(b)(ii) of the ceylon income-tax ordinance, 1932. section 49a of the income-tax act provides for grant of relief in respect of double taxation or for avoidance thereof. under this provision, the central government may ..... the relevant time to revise the orders of the income-tax officerfor the assessment, years 1943-44, 1944-45 and 1945-46 and that his ( ..... veeraswami, j.1. these are two references before us, one at the instance of the commissioner of income-tax and the other of the assessee under section 66(1) of the income-tax act, 1922. they arise out of a common order of the tribunal in three appeals relating to the assessment years ..... in the ' ceylon tax ' for granting double income-tax relief for the assessment years 1943-44 and 1944-45 '3. and the questions in the other reference are :' 1. whether the tribunal was right in holding that the commissioner of income-tax had power under section 33b of the indian income-tax act, 1922, and at ..... enter into an agreement with a country outside india for granting such relief in respect ofincome on which have been paid both income-tax under the indian act and in the country outside india. power also has been given under this section to the central government to frame rules by notification .....

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Jan 05 1968 (HC)

P.S.S. Bommanna Chettiar Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Jan-05-1968

Reported in : [1969]73ITR26(Mad)

..... reversing in part, the decision of the appellate assistant commissioner and restoring the penalty levied by the income-tax officer under section 28(1)(c) of the indian income-tax act, 1922, to the extent of rs. 5,000 for the assessment year 1945-46 '32. 1946-47 :' whether, on the facts and circumstances of the ..... law in reversing the decision of the appellate assistant commissioner and restoring the penalty of rs. 42,000 levied by the income-tax officer under section 28(1)(c) of the indian income-tax act, 1922, for the assessment year 1944-45 ?'31. 1945-46 :' whether, on the facts and circumstances of the case, the appellate tribunal was justified, in ..... appellate tribunal was justified in law in reversing the decision of the appellate assistant commissioner and restoring the penalty of rs. 8,000 levied by the income-tax officer under section 28(1)(c) of the indian income-tax act, 1922, for the assessment year 1943-44 ?'30. 1944-45:'whether, on the facts and circumstances of the case, the appellate tribunal was justified in ..... by his wives, daughters and sons cannot be believed.7. as this court exercises jurisdiction only in an advisory capacity in proceedings under section 66 of the indian income-tax act, 1922, and as itdoes not act as an appellate court, we feel that we are justified in upholding the findings of fact of the tribunal which are based on material, and indeed ample .....

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Aug 12 1968 (HC)

G.R. Narasimier and Co. Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Aug-12-1968

Reported in : [1969]73ITR257(Mad)

..... amount allowed as a profit of the business, rejecting the contention of the assessee that the lease amount was not a profit assessable under section 10(2) of the indian income-tax act but was only assessable under section 12 and hence the second proviso to section 10(2)(vii) did not apply. the punjab high court, referred to a number of decided ..... is;' whether, on the facts and in the circumstances of the case, the assessment of the sum of rs. 6,489 under section 12 instead of section 10 of the income-tax act, 1922, is justified in law '2. at the relevant time, the assessee was a firm of partnership carrying on a business of running a powerloom factory at madurai with 12 ..... cases and concluded that what, in such circumstances, the court had to decide was whether, in the facts and circumstances found by the income-tax appellate tribunal, the assessee itself carried on business or not. the court was inclined to think that so long as a business asset was exploited as such and profits or ..... go to that extent and hold that, even regarding the agreement as a lease, it is a business activity. the punjab high court in dal chand & sons v. commissioner of income-tax, has held that lease of a factory was as much a business of an assessee as the running of it by itself and so the .....

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Oct 15 1968 (HC)

Madurai District Central Co-operative Bank Ltd. Vs. Third Income-tax O ...

Court : Chennai

Decided on : Oct-15-1968

Reported in : [1969]73ITR479(Mad)

..... in the instant case. all that was decided in that case was that, in view of the terms of section 3 of the income-tax act, 1922,income-tax was levied on the income of the previous year and not on something which was not the income of the previous year, or made fictionally so. the excess dividend in that case, which was subjected to the additional ..... a fiction.6. it is next contended that the language of section 2(i)(a) (ii) of the finance act is not appropriate for levy of additional surcharge on income exempted from tax under the income-tax act. it is said that it is only where a tax can be levied that any question of its further increase by an additional surcharge for purposes of the union ..... valid, inasmuch as it goes beyond the taxable income computed for purposes of income-tax. the point is also put slightly in a different way, viz., the finance act cannot validly subject to additional surcharge an income, which, under the provisions of the income tax act, was exempt and not liable to charge. section 4 of the income-tax act charges the total income of the previous year or previous years of ..... every person at the rate or rates prescribed by any central act enacted for the purpose. section 81, which is found in chapter vii relating to income forming part of total income on which no income-tax is payable, provides that income-tax .....

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Aug 02 1968 (HC)

P.S. Kandaswamy Mudaliar Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Aug-02-1968

Reported in : [1969]72ITR212(Mad)

..... placed by mr. srinivasan on the ratio in s. a. raju chettiar v. collector of madras. the learned judges observed :' in order that proceedings under section 28 of the income-tax act for imposing a penalty on a hindu undivided family may be initiated, two requirements have to be satisfied : (i) the family must be in existence when the proceedings are initiated ..... should be in existence on the date of the order. as pointedout by the supreme court in additional income-tax officer, cuddapah v. thimmayya, : [1965]55itr666(sc) ., the income-tax act contains no machinery authorising the income-tax officer to re-open, under section 34 of the act, an assessment of a hindu undivided family relying upon an order recorded under section 25a(1) subsequent to ..... division bench in m. subba rao & nageswara rao v. commissioner of income-tax, held :'............that, though section 25a of the income-tax act makes thedivided members of a hindu undivided family jointly and severally liable for the tax payable by the undivided family there is no provision in the income-tax act authorising the taxing authorities to levy a penalty on the members of a family after they ..... that there was ever a joint family at all during the relevant years, is not supportable.3. under the income-tax act, a person includes a hindu undivided family. section 3, which is the charging section, enables the revenue to tax the total income of the previous year of every hindu undivided family. no option is given to the officer to elect and .....

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Jul 01 1968 (HC)

P.R. Easwaran Vs. Sixth Income-tax Officer

Court : Chennai

Decided on : Jul-01-1968

Reported in : [1969]72ITR263(Mad)

..... assessee which hoodwinked the revenue from probing into the reliefs then the revenue can exercise jurisdiction under section 34 of the indian income-tax act (presently section 148 of the income-tax act, 1961). as was pointed out by the supreme court in commissioner of income-tax v. rao thakur narayan singh, : [1965]56itr234(sc) :' it was not the intention of the legislature by amending section 34(1 ..... up to a certain point and thereafter rightly raised the question whether the respondent had the power and the right to initiate such proceedings under section 148 of the indian income-tax act. in matters like the one under consideration, if the question to be decided is whether the impugned order or notice is passed by the officer concerned in exercise of his ..... writ of prohibition or such other appropriate writ restraining him from making any assessment pursuant to the notice dated september 11, 1964, issued by him under section 148 of the income-tax act, 1961. the relevant facts may be noted. in or about august 27, 1946, the petitioner's father and three others conjointly purchased lands of an extent of 8 acres ..... been made available by the petitioner at the appropriate time, the re-opening of assessment for the year 1960-61, under section 148 of the income-tax act, 1961, which is similar to section 34 of the earlier act, was justified. the revenue farther contends that the action of the respondent is within his jurisdiction and perfectly legal because the business of the association .....

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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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