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Judgment Search Results Home > Cases Phrase: income tax act Year: 1968 Page 9 of about 650 results (0.161 seconds)

Nov 07 1968 (HC)

Bedi and Co. (Private) Ltd. Vs. Income-tax Officer Central Circle Ii, ...

Court : Karnataka

Decided on : Nov-07-1968

Reported in : [1969]73ITR586(KAR); [1969]73ITR586(Karn); (1969)1MysLJ430

..... to purchase shares of that value in the paper mills. 4. in the record of the reason made by the income-tax officer under section 148 of the income-tax act, 1961, which he incorporates in a communication which he addressed to the commissioner of income-tax on september 12, 1966, for the commissioner's sanction for initiation of proceedings under section 147(a) for reassessment he ..... )(d)(ii) makes it clear that the operation of section 147(a) cannot be restarted in that way. that clause reads : '297. (2) notwithstanding the repeal of the indian income-tax act, 1922 (11 of 1922) (hereinafter referred to as the repealed act),--....... (d) where in respect of any assessment year after the year ending on the 31st day of march, 1940, -.................. (ii) any ..... respect of the assessment year 1960-61. a notice for that purpose was sent to the assessee by the income-tax officer under section 148 of the income-tax act, 1961. 2. the assessee is a private company called bedi & co.(p.) ltd., which engaged itself in the activity of promoting the formation of a public company called the mandya ..... in treat case that the expression 'reason to believe' occurring in section 34 of the indian income-tax act, 1922, which contains words similar to those words in section 147(a) of the new act, do not refer to a purely subjective satisfaction on the part of the income-tax officer, and that the belief must be held fin good faith and cannot be merely a .....

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Nov 29 1968 (HC)

Vijaya Traders Shimoga Vs. Commissioner of Income Tax, Mysore

Court : Karnataka

Decided on : Nov-29-1968

Reported in : (1969)1MysLJ284

..... . the question of law referred to us reads:'whether on the facts and in the circumstances of these cases, the income-tax appellate tribunal was right in law in holding that the income-tax officer could act on the proviso to section 13 of the income-tax act, 1922, for completing the assessment for the assessment year 1961-62 and on the proviso to sub-section (1) ..... proviso to sub-section (1) of section 145 of the income-tax of the income-tax act, 1961, in respect of the assessment year ..... assessment having rejected the accounts produced by the assessee under section 13 of the indian income tax act, 1922, in one case and under the proviso to sub-section (1) of s. 145 of the income-tax act. 1961, in the other. the appeals preferred to the assistant commissioner and the income tax appellate tribunal were dismissed. this reference is made by the tribunal to us under ..... the inventory even if true has no materiality in the sphere computation of income.14. so, our answer to the question before us, therefore, is that the income-tax appellate tribunal was in error in affirming the assessments made by the income-tax officer under the proviso to section 13 of the income-tax act, 1922 in respect of the assessment year 1961-62 of under the .....

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Feb 02 1968 (HC)

Satyam Vs. Krishna Murthy and ors.

Court : Andhra Pradesh

Decided on : Feb-02-1968

Reported in : AIR1969AP237

..... . of course it must be a debt which is not disputed or is indisputable. in this case the debt represents money due to the crown under the income-tax act and the demand of the income-tax officer is not open to question............. the right to payment being indisputable justice requires that it should be paid out to the crown and formal application for payment ..... filed c. m. p. no. 9392/67 for receiving a certified copy of a letter dated 7-12-1951 by the income-tax officer, vizianagaram to the collector, visakhapatnam under section 46(2) of the indian income-tax act, 1922. in this letter the income-tax officer certified that a sum of rs. 4,885-9-0 due from motumarri suryanarayana , the 1st defendant mortgagor was in ..... 230 it was held that the effect of section 30 of the income-tax act of 1886 corresponding to section 46 (2) of the income-tax act, 1922, is not to convert income-tax into an arrear of land revenue, but merely to extend the procedure prescribed by the revenue recovery act to the recovery of arrears of income-tax their lordships followed the decision reported in ilr (1884) 7 mad ..... order on the application for payment of moneys due to the crown. in that connection, the court held that section 46 of the income-tax act is not exhaustive of the remedies of the crown to cover arrears of income-tax and does not preclude an application of this nature. the court further held that it was also not necessary for the crown to obtain .....

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Jan 29 1968 (HC)

Vijaya Kumar Machinery and Electrical Stores Vs. Alaparthi Lakshmikant ...

Court : Andhra Pradesh

Decided on : Jan-29-1968

Reported in : [1969]74ITR224(AP)

..... , i do not, therefore, see any valid objection to the admissibility of exhibit a-1.38. in nagammai achi v. alamelu achi, it was observed that:'section 54 of the income-tax act is not concerned with the admis-sibility of documents referred to therein but only directs that they should be treated as confidential and prevents the compulsory production of those documents ..... by janaki have been tendered in evidence in the present case, we presume that the granting of certified copies is in certain circumstances permissible by some rule made under the income-tax act. most probably they can be granted to the person who has made the return for his own private information since that would not come under the head of disclosure under ..... .29. that apart, the objection on merits does not seem to be sound. a reading of section 54(1) of the indian income-tax act shows that, by itself, it does not lay down any embargo on the admissibility of an income-tax return or any statement made therein. it only declares that no court shall be entitled to require any public servant to produce ..... a partner of the firm, that has obtained exhibit a-1. the objection to the admissibility of exhibit a-1 was sought to be based on section 54 of the income-tax act, 1922. section 54(1) lays down:'all particulars contained in any statement made, return furnished or accounts or documents produced under the provisions of this .....

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Nov 26 1968 (HC)

M. Subrahmanya Sarma Vs. Commissioner of Income-tax and ors.

Court : Andhra Pradesh

Decided on : Nov-26-1968

Reported in : [1969]74ITR407(AP)

..... tribunal in its statement of the case has stated that, though separate applications were filed by the assessee for referring the questions of law arising under the wealth-tax act, the income-tax act and the gift-tax act, viz., nos. 1927 and 1928 of 1963-64 (w.t.a. nos. 1714 and 1715 of 1962-63 respectively) r.a. no. 1929 of 1963-64 ..... are agreed, we have directed the office to register two separate references under the wealth-tax act and the gift-tax act, treating the present reference as one under the income-tax act. the reference under the wealth-tax act is numbered as r.c. no. 66/1965 and the one under the gift-tax act as r.c. 67/1965. we propose to pass a consolidated order which will dispose ..... there was a gift, as indeed we have now held it to be so, the minor did not have the benefit or enjoyment of the income therefrom and, consequently, section 16(3)(a)(iv) of the income-tax act, 1922, cannot be made applicable. the clause in the partition deed, on which the learned advocate relies, is as follows :'as the second individual of ..... her death the corpus was to go to certain persons specified therein. the supreme court held that on a true construction of clause (b) of section 16(3) of the income-tax act, no benefit accrued to the minor daughter in the year of account and that the sum of rs. 410 could not be included in the total .....

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Nov 25 1968 (HC)

Khan Bahadur Ahmed AlladIn and Sons Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Nov-25-1968

Reported in : [1969]74ITR651(AP)

..... accounts could be reopened, his lordship observed at page 119 :'whether this principle is justified in the english law, it has no place under the indian income-tax act. when an income-tax officer proceeds to include a particular income in the assessment, he should ask himself, inter alia, two questions, namely : (i) what is the system of accountancy adopted by the assessee and (ii) if ..... by the district judge on 12th july, 1956, is assessable for the assessment year 1955-56 ?' 2. the assessee, a firm registered under section 26a of the income-tax act, 1922, was being assessed to income-tax for the year 1955-56, for which the corresponding accounting year was from 1st october, 1953, to 30th september, 1954, in which accounting year the second of the ..... accrued in the year in which it became so recoverable within the meaning of section 4(1)(b)(i) of the income-tax act, 1922, so long as that act was in force, and of section 5(1)(b) of the income-tax act, 1961, when that act commenced to operate. the attribution of the whole of that interest to the year of receipt is manifestly impossible.'17 ..... has, on several occasions, observed--which observations are reinforced by their lordships of the supreme court--that it is not advisable to rely upon english decisions in interpreting the indian income-tax act. we have already noticed the observations of subba rao j. (as he then was) in gajapathy naidu's case. in the same judgment, after referring to j. p. hall and .....

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Feb 29 1968 (HC)

Vithaldas Kedar Nath Vs. Income Tax Officer District Ii (ii) Kanpur an ...

Court : Allahabad

Decided on : Feb-29-1968

Reported in : AIR1969All390

..... (1968) 67 itr 230 madras high court expressed doubt whether the court can compel an officer to go outside the limits of time prescribed by section 35 of the indian income-tax act and direct him to rectify an order after the expiry of the time prescribed by the section.15. in rex v. hanley (1912) 3 k. b. 518 it was observed ..... possible for the court to intervene in the matter.11. in kadirvel nadar v. state of madras : [1962]46itr251(mad) it was explained that section 34 of the madras agricultural income-tax act merely lays down a period within which proceedings under the section should be commenced. if the proceedings commenced within the period prescribed in the section, the power of the commissioner ..... oak, c.j.1. these three connected petitions under article 226 of the constitution arise out of three connected proceedings for rectification under section 35 of the indian income-tax act, 1922 (hereafter referred to as the act). the facts of the three cases are similar. they raise common questions of law. it will, therefore, be sufficient to refer to the facts of one of ..... not necessary that the power should be exercised within the period fixed in the section.12. in commissioner of income-tax, west bengal v. duncan brothers : [1955]28itr427(cal) calcutta high court had to examine the provisions of section 66 (1) of the indian income-tax act. it was held that the provision to the effect that the appellate tribunal shall within 90 days of .....

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Apr 23 1968 (HC)

income-tax Officer Vs. Bisheshwar Lal

Court : Allahabad

Decided on : Apr-23-1968

Reported in : [1970]76ITR653(All)

..... against the imposition of penalty might well have disappeared. we are satisfied, therefore, that when a notice regarding penalty is issued under section 28 of the income-tax act, 1922, after an unreasonable lapse of time, it amounts to an abuse of power and the proceedings can certainly be quashed by a writ issued by ..... petitioner had an alternative remedy. (3) that even admitting all the facts alleged by the petitioner, the proceedings taken against him under section 28 of the income-tax act could not be said to be without jurisdiction and, consequently, should not be interfered with by this court by the issue of any writ. 4. it ..... the assessment in question was completed on june 24, 1944, and on the same date a notice under section 28 of the income-tax act of 1922 was issued, calling upon the assessee to show cause why a penalty should not be imposed upon him for concealment of ..... important, mr. gopal behari's contention is that, since no period of limitation is provided in the act for the issue of a notice under section 28, the issue of fresh notice by the income-tax authorities to the petitioner in the year 1956, after having taken no action for 12 years on the ..... case with the plea of alternative remedy, mr. gopal behari suggest that the petitioner should have allowed the income-tax officer to impose the penalty and should then have gone up in appeal, as provided under the act. but, in the peculiar circumstances of this case, we feel that the petitioner was justified in preferring .....

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Jul 12 1968 (HC)

Raghubir Saran Vs. O.P. Jain, Additional Munsif (i) and ors.

Court : Allahabad

Decided on : Jul-12-1968

Reported in : [1969]73ITR482(All)

..... particulars contained in any statement made, return furnished, or accounts or documents produced or in any evidence given or affidavit or deposition made in thecourse of any proceedings under the income-tax act. in other words, the obligation extends to each document referred to in section 54(1).27. the statement in question was made at a time when section 54 was in ..... were certainly right in claiming privilege in respect of the statement in question.18. but the question is does section 54 really apply even after the repeal of the income-tax act of 1922 of which it was a part. according to the learned counsel for the petitioner the effect of section 54 has been preserved after its repeal by section 6( ..... wanted to be produced in court. section 54 of the income-tax act of 1922 undoubtedly affords protection against disclosure of any information contained in the income-tax records of an assessee. the income-tax act of 1922, however, has been repealed and has been replaced by the income-tax act of 1961, with effect from 1st april, 1962. the act of 1961 also had a provision in section 137 similar to ..... the production of the statement. i have already shown that neither the repeal of the income-tax act of 1922 nor the enactment of the income-tax act of 1961 nor indeed the omission of section 137 from the act of 1961, had obliterated the obligation imposed by section 54. the income-tax authorities as also the petitioner wore justified in their stand that the statement in question could .....

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Oct 24 1968 (HC)

J.K. Commercial Corporation Ltd. Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Oct-24-1968

Reported in : [1969]72ITR296(All)

..... is that the entire legal and travelling expenses incurred by the assessee, amounting to rs. 77,158 and rs. 11,891, respectively, were allowable under section 12(2) of the income-tax act, 1922. the tribunal was not justified in disallowing a substantial portion thereof,25. we, therefore, answer the two questions referred to this court by the tribunal as follows. the whole ..... protecting its shares in the muir mills co. ltd., and to ensure its prospective dividend earning capacity. as such, the expenditure would be admissible under section 12(2) of the income-tax act.'18. thus, according to the tribunal, the objectives which induced the assessee to finance the litigation were two-fold, namely, to protect the shares, and, secondly, to insure the prospective ..... assessee-company's investment in the shares in question. accordingly, the tribunal directed that a sum of rs. 15,000 be allowed as expenditure under section 12(2) of the income-tax act, 1922.11. against the decision of the tribunal, both the department as well as the assessee-company sought a reference to this court on the question of the allowability of ..... shares in the muir mills co. ltd. and to ensure its prospective dividend earning capacity. the tribunal, therefore, held that the expenditure was admissible under section 12(2) of the income-tax act. as regards the quantum of allowance, the tribunal took the view that the whole of the expenditure was not a permissible deduction. the tribunal took into consideration the fact that .....

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