Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Year: 1973 Page 1 of about 788 results (0.148 seconds)

Feb 28 1973 (HC)

Commissioner of Agrl. Income-tax Vs. Kerala Estate

Court : Kerala

Decided on : Feb-28-1973

Reported in : [1974]96ITR210(Ker)

..... , on a very exhaustive survey of the decision in commissioner of income-tax v. lakshmamma, came to the conclusion that the general law even ..... or when it is recovered by the assessee, it comes back to the assessee as his income, the amount not having changed its character. in the meanwhile that income had not been taken into account in any assessment year as, under the income-tax act, it was deductible as a loss arising from the carrying on of the business. it ..... in such cases the money received is not the income of the assessee; we think that it is to cover cases of this nature that sub-section (2a) of section 10 was introduced in the indian income-tax act of 1922 and reintroduced in the form of section 41 of the income-tax act, 1961. the learned judges of the mysore high court ..... credit entry will have to bemade for the amount remitted so that the accounting may be continuousand consistent, a fact noticed by the patna high court in commissionerof income-tax v. rohtas industries ltd. in such cases there is certainlyconstructive receipt and, therefore, the distinction between constructivereceipt and remission sought to be drawn by the mysore ..... and the signature of the registrar will be sent to the appellate tribunal as required by sub-section (1) of section 260 of the income-tax act, 1961. .....

Tag this Judgment!

Dec 21 1973 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. Gordhandas K. Vora

Court : Mumbai

Decided on : Dec-21-1973

Reported in : [1974]96ITR50(Bom)

..... desai, j. 1. this is a reference by the income-tax appellate tribunal, bombay bench 'c', under section 66(1) of the indian income-tax act, 1922. the reference arises out of the assessment proceedings under the indian income-tax act for the assessment years 1957-58 and 1958-59, the relevant account years being samvat years 2012 and 2013. necessary facts material for the purpose of this reference ..... separate accounts were not kept the assessee could not be regarded as having blended the properties. it is not possible to hold that the income-tax appellate tribunal took any erroneous view on either aspect of the matter being considered before it. vimadalal, j. 23. i agree and have nothing to add. by the court 24 ..... is to found in c. v. vythianatha iyer v. c. v. varadaraja iyer, p. n. venkatasubramania iyer v. p. n. easwara iyer and goswami maharaj ranchhodraiji govindlalji v. commissioner of income-tax. 22. it appears to me that the view taken by the madras and the gujarat high courts is the correct view and that merely by reason of the fact that ..... assets received by gordhandas from his grandfather either through the instrumentality of the trust settlement or under clause 12 of sir manmohandas's will. the department thereafter appealed to the income-tax appellate tribunal against the said conclusion and direction of the appellate assistant commissioner. the contention of the department was that assuming that the two sets of properties were separate properties .....

Tag this Judgment!

Mar 19 1973 (HC)

D.P. Wadia and Sons Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Mar-19-1973

Reported in : [1975]100ITR79(Bom)

..... of the assessee the question that has been referred to this court by the tribunal under section 66 (2) of the indian income-tax act, 1922, runs as follows : 'whether the applicant's income from contracts with the government has been properly estimated at rs. 24,604 (rupees twenty-four thousand six hundred and four) ..... identifiably made during the previous year. it is not possible to accept this submission of mr. munim for the simple reason that all that the income-tax officer and the appellate assistant commissioner have done while disposing of this question is that they have merely set out as and by way of recitation ..... account running into other years as well. what was sought to be urged by mr. munim before us was that if the orders of the income-tax officer and the appellate assistant commissioner were carefully scrutinised it would appear clear that the statement containing advances made by the assessee to the sub-contractor ..... % share as per arrangement. he, therefore, upheld the rate of 5% at which the net profit was to be calculated and adopted by the income-tax officer and rejected the claim for loss. 4. before the tribunal the decision of the appellate assistant commissioner in so far as it related to the ..... loss of rs. 94,206 as a revenue loss. when the assessee went in appeal to the appellate assistant commissioner, the latter officer modified the income-tax officer's estimate of the profit by accepting the total amount of the bills at rs. 4,92,061 as shown by the assessee and, .....

Tag this Judgment!

Mar 06 1973 (HC)

Commissioner of Income-tax Vs. Koduri Papa Rao

Court : Andhra Pradesh

Decided on : Mar-06-1973

Reported in : [1976]102ITR834(AP)

..... tribunal, hyderabad bench, has, at the instance of the commissioner of income-tax, submitted under section 66(1) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), a statement of case for our opinion on the following question : 'whether, on the facts, and in the circumstances of the case, the penalty imposed under section 28(1)(c) ..... to the source of the sale consideration of rs. 29,500 added the same as income from undisclosed sources. the addition was sustained by the appellate assistant commissioner and the income-tax appellate tribunal. 3. the income-tax officer, after issuing notice to the assessee under section 28(3) of the act and affording a reasonable opportunity to him, levied a penalty of rs. 15,800 ..... stands, the provisions of section 28(1)(c) of the act were satisfied and the levy of penalty was justified. in my view, this decision is no longer good law in view of the decisions of the supreme court in commissioner of income-tax v. anwar ali : [1970]76itr696(sc) and commissioner of income-tax v. kkoday eswarsa and sons : [1972]83itr369(sc) . 11. the ..... not justify the imposition of penalty under section 28(1)(c) of the act, as the repeated falsity of the explanation more than once would not change the legal position in this regard. the heart of the matter is that, before levying penalty under section 28(1)(c), the income-tax department must satisfactorily and reasonably prove by any positive evidence, that the .....

Tag this Judgment!

Feb 16 1973 (HC)

Seth Banarsi Das Gupta Vs. Commissioner of Income-tax (Central) and an ...

Court : Allahabad

Decided on : Feb-16-1973

Reported in : [1977]107ITR368(All)

..... against the regular assessments. but an order under section 18a(6) is not an appealable order. subsection (1) of section 30 enumerates the orders passed under the income-tax act which are appealable to the appellate assistant commissioner of income-tax. an order under section 18a(6) does not find a place in that provision. thus, no appeal lies to the appellate assistant commissioner of ..... of advance tax as required under sub-sections (1), (2) and (3) of section ..... gulati, j.1. the petitioner was assessed to income-tax for the assessment years 1956-57, 1957-58, 1958-59, 1960-61 and 1962-63, by the income-tax officer (central) circle i, meerut. penal interest under section 18a(6) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), was charged for all the years as the petitioner had failed to pay proper amount ..... 18 a. the petitioner applied to the income-tax officer for waiver of interest. the applications were made under .....

Tag this Judgment!

Jan 25 1973 (HC)

Commissioner of Income-tax Vs. Co-operative Cane Development Union Ltd ...

Court : Allahabad

Decided on : Jan-25-1973

Reported in : [1975]101ITR368(All)

..... assessee appealed against the penalty orders and the appellate assistant commissioner of income-tax accepted the contention of the assessee that it had ..... securities. the assessee was not assessed to income-tax prior to the year under reference. as its income was above the taxable limit and as it had failed to make payment of advance tax for all these years within the prescribed time, the income-tax officer started penalty proceedings under section 273(b) of the income-tax act for nonpayment of advance tax and levied penalties of varying amounts. the ..... not paid advance tax under the bona fide belief that its .....

Tag this Judgment!

Dec 11 1973 (HC)

Commissioner of Income-tax Vs. Sugar Dealers

Court : Allahabad

Decided on : Dec-11-1973

Reported in : [1975]100ITR424(All)

..... :' the problem as to when loss resulting from misapplication of funds by an agent occurs must be viewed like many other problems arising under the income-tax act on a conspectus of all the facts and circumstances in the context of principles of commercial trading. embezzlement of funds by an agent, like a speculative ..... the assessee could not be said to have suffered loss in the relevant previous year.6. under section 10(1) of the indian income-tax act, 1922, which governs the present case, tax is payable by an assessee in respect of profits and gains of a business carried on by him. in computing such profits and gains ..... gulati, j.1. this is a reference under section 66(1) of the indian income-tax act, 1922, at the instance of the commissioner of income-tax, kanpur.2. the assessee is a registered dealer and deals in sugar. the assessment year involved is 1957-58 with the previous ..... of rs. 77,290 as a business loss in the assessment year in question. the claim was disallowed by the income-tax officer as alsoby the appellate assistant commissioner of income-tax on appeal. the income-tax tribunal, however, on second appeal accepted the assessee's claim and held that the loss was properly allowable in the ..... in kedarnath jute mfg. co. ltd. v. commissioner of income-tax : [1971]82itr363(sc) . that was a case of a deduction under sections 10(1) and 10(2)(xv) of the act in respect of sales tax imposed upon the assessee. the sales tax was levied in the relevant accounting year but it was not .....

Tag this Judgment!

Feb 26 1973 (HC)

Hari Babu Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Feb-26-1973

Reported in : [1974]96ITR118(All)

..... the minors was also included. he appealed and the income-tax appellate tribunal held that the income of the minor sons could not be included in the income of hari babu and theminors should have been assessed separately. in the meantime, the income-tax officer, aligarh, initiated proceedings under section 34(1)(a) of the income-tax act against the assessees as they had failed to file ..... their returns for the assessment year in question. it appears that the case of the partnership firm of jagdish prasad satya prakash fell within the jurisdiction of the income-tax officer, delhi. the firm had ..... filed its return for the assessment year 1952-53, and the income-tax officer, delhi, ..... firm as well as against the minors on the basis of the return. in response to the notices under section 34(1)(a) of the act, issued by the income-tax officer, aligarh, the minors filed their returns under protest and the income-tax officer, aligarh, completed the assessment on february 28, 1963. the assessee's appeal to the appellate assistant commissioner of .....

Tag this Judgment!

Apr 10 1973 (SC)

Commissioner of Income-tax, West Bengal Vs. Calcutta Discont Co. Ltd.

Court : Supreme Court of India

Decided on : Apr-10-1973

Reported in : AIR1974SC1358; [1973]91ITR8(SC); (1974)3SCC260; [1973]3SCR952

..... and some other agricultural produce. he utilised those products for the purpose of its tea business. the question arose whether while assessing the tea garden owner under the bengal agricultural income-tax act the cost of raising bamboo, thatch, etc., should be taken into consideration or their market price should be taken into consideration. this court upheld the contention of the revenue that ..... tribunal's order dated 22nd july 1964 was an interlocutory order the tribunal was competent to entertain an application purported to be under section 66(1) of the indian income tax act, 1922, in respect of such order ?(2) if the answer to question no. 1 above be in the affirmative, whether on the facts and in the circumstances of the case ..... . this is an appeal by certificate. it arises from the decision of the calcutta high court in a reference under section 66(1) of the indian income-tax act, 1922 (to be hereafter referred to as the 'act'). three questions of law were referred to the high court for ascertaining its opinion. those questions are :-(1) whether in view of the fact that the ..... transferred by the assessee company to its subsidiary during the year of account should be valued, for the purposes of assessment under the indian income-tax act, at their market price.(2) for that the learned appellate assistant commissioner of income-tax misappreciated the facts of the present case and wrongly applied the decision of the madras high court in : [1955]28itr952(mad) .(3) for .....

Tag this Judgment!

Jan 18 1973 (HC)

R.C. JaIn Vs. the Commissioner of Income Tax, Delhi

Court : Delhi

Decided on : Jan-18-1973

Reported in : ILR1973Delhi599; [1973]91ITR557(Delhi)

..... forms the subject-matter of the third question has also to be decided in favor of the assessed under section 10(2)(xv) of the income-tax act, 1922. the result is that all the three questions are answered in favor of the assessed and against the department. the assessed will be ..... director's salary, fees, dividends and interest. the facts set out in the statement of the case submitted by the income-tax appellate tribunal under section 66(1) of the indian income-tax act, 1922, show that shri r. c. jain (hereinafter referred to as the assessed) was previously a member of a ..... this authority is not at all applicable to the present case. (17) reference has also been made to associated mining industries limited v. commissioner of income-tax, west bengal, calcutta : [1955]27itr429(cal) , which was the case of an assessed claiming deduction in business on account of prosepecting operations in ..... nature prior to the commencement of the business and, thereforee, not taxable. (15) in c. parekh & co. (india) ltd., bombay v. commissioner of income-tax, bombay city : [1953]24itr24(bom) , a contract for the purchase of jeeps was entered into by the assessed, but, the seller repudiated the contract after ..... of the case, the traveling expenses and bank commission in connection with the above loss is a permissible deduction ?'(5) the orders of the income-tax officer, the appellate assistant commissioner and the tribunal have been annexed as part of the statement of the case. the agreement as well as .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //