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Judgment Search Results Home > Cases Phrase: income tax act Year: 1969 Page 1 of about 600 results (0.111 seconds)

Apr 22 1969 (HC)

M. Ganapathi Asari Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Apr-22-1969

Reported in : [1970]75ITR296(Mad)

..... 66(1) of the income--tax act, 1922, and relates to the assessment years 1949-1950 to 1953-1954 and 1955-1956 and 1956-1957.2. the assessee made returns for these years as an individual. but this status was not accepted by the income-tax officer who included the income of his brothers in his ..... by section 33(2). a commissioner may, if he objects to any order passed by the appellate assistant commissioner under section 31, direct an income-tax officer to appeal to the appellate tribunal against such order. there can be no question that the order appealed against by the commissioner was one ..... authority, as the case may be, was empowered to give under the^ sections mentioned in the proviso. east india corporation ltd. v. commissioner of income-tax was not concerned with section 34 or the second proviso, but had dealt with the question whether a direction under section 34(3) to reassess the ..... reassessment of any person other than the assessee beyond the period of limitation specified in section 34. the scope of the proviso was again. considered in income-tax officer, a ward, sitapur v. murlidhar bhagwan das. it was held that 'any person' in the second proviso must be confined to a ..... to 1953-54 and 1955-56 and 1956-57. but while setting aside the assessments, the appellate assistant commissioner was silent as to what the income-tax officer was to do further. the commissioner filed appeals before the tribunal objecting to the orders of the appellate assistant commissioner on the ground that .....

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Apr 01 1969 (HC)

Padgirwar Brothers Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Apr-01-1969

Reported in : [1971]80ITR96(Bom)

..... assessee-firm to shri. v. nagayya in the ordinary course of money-lending business.' 3. the income-tax officer accordingly rejected the assessee's claim of a deduction as a bad debt under section 36(2) of the income-tax act, 1961. a copy of the assessment order forms part of the statement of the case as ..... debt within the meaning of section 36 and as a bad debt was bound to be allowed as a permissible deduction in computing the income. 8. the income-tax appellate tribunal has found in paragraph 5 of the statement of the case that there was no evidence to prove that nagayya was either ..... liability owed by nagayya had become irrecoverable in the accounting year to be treated as a bad debt. in our opinion, the finding of the income-tax authorities and ultimately by the tribunal that the assessee had failed to prove that the amount due had become a bad is essentially a question of ..... liability is or is not reasonably recoverable within a particular period. unless it is proved that this conclusion reached by the assessee was unsupportable, the income-tax authorities would have very limited jurisdiction to interfere with the conclusion of the assessee as to a debt being a bad debt or an irrecoverable debt ..... investment and not a revenue expenditure. the learned counsel for the assessee has relied on a recent decision of the supreme court in commissioner of income-tax v. mysore sugar co. in support of their contention that the amount spent with a view to acquiring goods which were to be sold by .....

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Mar 30 1969 (HC)

R.B. Jessaram Fetehchand (Sugar Dept.) Vs. Commissioner of Income-tax, ...

Court : Mumbai

Decided on : Mar-30-1969

Reported in : [1970]75ITR33(Bom)

..... the tribunal. then on an application to this court under section 66(2) the tribunal was required to refer the following three questions under section 66(2) of the indian income-tax act; '(1) whether, on the facts of the case, and, in particular, in view of the fact that the sales were at prevailing market there is any evidence for rejecting the ..... or defects, which cannot be reasonably and satisfactorily explained by the assessee. all the other transactions, except the cash transaction, which were verifiable, have been verified and scrutinised by the income-tax officer and there is nothing wrong whatsoever found with them. as to the cash transactions also, the quantity of sugar sold has not been disputed. the rates at which sugar ..... ,440 to the gross profits as shown by the assessee's books of account. the assessee appealed to the appellate assistant commissioner, who disagreed with the view taken by the income-tax officer and deleted the addition of the amount. before the appellate assistant commissioner the assessee produced the sugar market reports for the months of july and august which showed that ..... to supply the addresses of the purchasers on the ground that the sales had been effected through brokers and suggested that the addresses may be obtained through the brokers. the income-tax officer, therefore, summoned a partner of the firm of brokers through whom these transactions were effected. the said broker, however, also was unable to furnish the addresses of the purchasers .....

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Feb 14 1969 (SC)

Commissioner of Income-tax, Kerala Vs. Manick and Sons

Court : Supreme Court of India

Decided on : Feb-14-1969

Reported in : AIR1969SC1122; [1969]74ITR1(SC); (1969)1SCC671; [1969]3SCR708a

..... 53 could not be reopened otherwise than in the manner prescribed by law. the undertaking must therefore be ignored. under section 33(4) of the income-tax act, 1922, the income-tax appellate tribunal may, after giving both parties to the appeal an opportunity of being heard, pass such orders thereon as it thinks fit. the ..... a question of fact on which no reference can be made to the high court under section 66 of the indian income-tax act. the court in that case did not lay down that it is open to the tribunal to make a consolidated assessment of ..... flow from the contentions raised before the tribunal and contemplate an enquiry into matters urged by counsel by the commissioner.10. the decision of this court commissioner of income-tax, madras v. s. nelliappan : [1967]66itr722(sc) on which reliance was placed by counsel for the respondents has little bearing in this case. in s ..... law and fact which arise out of the order of assess ment made by the income-tax officer and the order of the appellate assistant commissioner. it cannot assume powers which are inconsistent with the express provisions of the act or its scheme.6. the tribunal was entitled to enquire whether the source of ..... the cash credits was explained: if it held that they represented capital or income of earlier years, it could exclude them from income liable to be taxed in the year to which the appeal .....

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Aug 14 1969 (HC)

Royal Western India Turf Club Ltd. Vs. Commissioner of Income-tax, Bom ...

Court : Mumbai

Decided on : Aug-14-1969

Reported in : [1970]78ITR548(Bom)

..... the expenditure incurred or the loss sustained in running the turf club house and the kiosks in computing the business profits of the assessees under section 10 of the indian income-tax act. 2. the appellate assistant commissioner ought to have held that running the club house and the kiosks, or in any event running the kiosks was part and parcel of the ..... law and/or acted without any evidence or contrary to the materials on record, in holding that in running the club house and the kiosks ..... . if the answer to the above question is in the negative, whether the said loss and depreciation could be set off or adjusted the said profits under section 10 of income-tax act, as loss and depreciation of a different business ?' 2. the assessee is a limited company incorporated in 1926 under the indian companies ..... by the high court of judicature at bombay by their order dated 20th march, 1961, in income-tax application no. 22 of 1959, we hereby draw up an agreed statement of the case and refer it to the high court under section 66(2) of the indian income-tax act, 1922, with reference to the following questions of law : '1. whether the tribunal erred in .....

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Aug 08 1969 (HC)

Bhogilal H. Patel Vs. Commissioner of Income-tax (Central) Bombay

Court : Mumbai

Decided on : Aug-08-1969

Reported in : [1969]74ITR692(Bom)

..... affidavit appears to have been filed in the proceedings commenced against the assessee for the assessment year 1949-50 under section 34 of the indian income-tax act 1922, in respect of the sale of survey no. 148. it was also produced before this court as an annexure to an affidavit ..... they held that the purchase of property in the shape of agricultural lands is ordinarily an investment. in janki ram bahadur ram v. commissioner of income-tax, at page 26, the supreme court after referring to two english authorities in rutledge v. commissioners of inland revenue and commissioners of inland revenue v ..... it appears that the appellate assistant commissioner gave an opportunity to both the sides to adduce evidence and the appellate assistant commissioner gave the income-tax officer an opportunity to cross-examine the assessee who had filed an affidavit. both the affidavit and the cross-examination are on the record ..... by the then government of bombay under section 4 and 6 of the land acquisition act in connection with the proceedings for acquisition of about 500 acres of land for the university of gujarat. the income-tax inspector's report dated 17th june, 1957, which was made after the remand order ..... of the tribunal is also pressed into service. the notification under section 4 of the land acquisition act was published in the bombay government gazette on 31st .....

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Mar 17 1969 (HC)

R.B. Bansilal Abirchand Spinning and Weaving Mills Vs. Commissioner of ...

Court : Mumbai

Decided on : Mar-17-1969

Reported in : [1970]75ITR260(Bom)

..... uniformly in all cases that the amounts spent on advice, or engaging services of an expert or prosecuting an appeal or proceeding under the income-tax act is necessarily an expenditure which cannot be allowed in all cases. in our opinion, therefore, this is a question which should better be considered ..... the different facts which arises for consideration in considering the claim for allowance in respect of an expenditure under section 10(2) (xv) of the income-tax act, in our opinion, this is a question which should be considered by a larger bench. if one kind of expenses of litigation are allowable, ..... approached this court and this court required the tribunal to refer the question which has now been referred under section 66(2) of the indian income-tax act, 1922, as already stated. 35. in support of this reference, it is strenuously contended on behalf of the assessee that no defect has ..... accept them as the actual cost to the assessee......' 13. thereafter the assessee desired by an application under section 66(1) of the indian income-tax act, 1922, the tribunal to make a reference to the high court in respect of the question of valuation of the depreciable assets of the ..... facts mentioned in the statement of the case itself that the assessee is a partnership which has been registered under section 26a of the indian income-tax act, 1922, and comprises of members of the erstwhile hindu undivided family excluding rai bahadur seth narsinghdas daga. the deed of dissolution of partnership, .....

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Aug 14 1969 (HC)

Commissioner of Income-tax Vs. Jeskaran Bhuvalka

Court : Andhra Pradesh

Decided on : Aug-14-1969

Reported in : [1970]76ITR128(AP)

..... came to rs. 3,06,000, was brought into the indian union. this explanation did not satisfy the income-tax officer. he, therefore initiated proceedings under section 34(1)(a) of the income-tax act, 1922 (hereinafter called 'the act'), with the prior approval of the commissioner of income-tax with notice dated march 26, 1956, which was served on the assessee on march 28, 1956. in the ..... assessment that was finally made in pursuance of the above notice on february 28, 1957, the income-tax officer included rs. 3,06,000 (in ..... material facts, or, in other words, that lack of full and true disclosure which would entitle action under section 34 of the act.14. thus, we find that in enunciating the basic principles in accordance with which an income-tax officer can invoke his jurisdiction under section 34 all the judges including the majority and the minority are agreed. the difference was ..... fully and truly all material facts necessary for his assessment for that year, income, profits or gains chargeable to income-tax have escaped assessment for that year, or have been under-assessed, or assessed at too low a rate, or have been made the subject of excessive relief tinder the act, or excessive loss or depreciation allowance has been computed, or (b) notwithstanding .....

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Jul 21 1969 (HC)

Valivetti Sriramulu Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Jul-21-1969

Reported in : [1970]76ITR551(AP)

..... of the appeal in the light of the answer given by this court. he drew our attention to the following observation, in esthuri aswathiah v. commissioner of income-tax:'section 66(5) of the indian income-tax act, 1922, requires the tribunal on receiving a copy of the judgment of the high court to pass such orders as are necessary to dispose of the case ..... kuppuswami, j.1. the assessee is doing business in salt at chinaganjam in bapatla taluk. in response to a notice under section 22(2) of the income-tax act, 1922, he filed a return disclosing an income of rs. 17,347 from business for the assessment year 1948-49. during the course of the assessment, he filed a petition dated november 19, 1951, making a ..... where a reference was made to the rule of the high court requiring that these orders and the records before the income-tax officer have to be printed in a paper book in a reference under section 66 of the income-tax act and to the fact that the documents and proceedings annexed to the statement of case are annexed for consideration of the high ..... own words, briefly it may be, the reasons for their decision, it cannot be said that the tribunal acted arbitrarily and fixed the figure of rs. 20,000. we have gone through the order of the income-tax officer and the appellate assistant commissioner. the income-tax officer has given detailed reasons for making the additions under each head and in respect of those additions .....

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Dec 09 1969 (SC)

Bengal Enamel Works Ltd. Vs. Commissioner of Income-tax, West Bengal

Court : Supreme Court of India

Decided on : Dec-09-1969

Reported in : AIR1970SC1076; [1970]77ITR119(SC); (1970)1SCC112; [1970]3SCR314

..... the purpose of the business is one of law and not of fact, and the high court in a reference under section 66 of the income-tax act is competent to decide that the inference raised by the tribunal is erroneous in law.6. in the present case, the facts found are ..... incurred by the assessee for payment of remuneration to its technical adviser is permissible under the provisions of section 10(2)(xv) of the indian income-tax act?the high court answered the question in the affirmative, and disallowed the claim of the company. with certificate of fitness, these appeals are ..... 3. in the assessment years 1951-52, 1952-53 and 1953-54 the company claimed under section 10(2)(xv) of the income-tax act, 1922, as admissible allowance, in computing its taxable income, rs. 52,947/-, rs. 64,356/- and rs. 79,227/- respectively, paid as remuneration to dr. ganguly under the ..... month that he obtained as secretary of the managing agents of the company, would be adequate.' with that view the appellate assistant commissioner and the income-tax appellate tribunal have substantially agreed. the tribunal observed that they were inclined to conclude that 'extra-commercial considerations' had influenced the fixation of remuneration of ..... must be decided on the facts and in the light of the circumstances of each case: swadeshi cotton mills co. ltd. v. commissioner of income-tax, u.p. : [1967]63itr57(sc) resolution of the assessee fixing the remuneration to be paid to an employee and production of vouchers for payment .....

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