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Judgment Search Results Home > Cases Phrase: income tax act Year: 1973 Page 1 of about 788 results (0.096 seconds)

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 .....

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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 .....

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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 .....

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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. .....

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Mar 19 1973 (HC)

S. Palaniandi Mudaliyar and Sons Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Mar-19-1973

Reported in : [1975]99ITR231(Mad)

..... and that the said amount of remuneration has to be allowed under section 37 of the income-tax act, 1961, as having been wholly and exclusively incurred for the purposes of the business of the firm.4. the income-tax officer considered the above claim of the assessee in the light of the various circumstances in ..... of remuneration at the rate of 0-2-0 in the rupee in the profits of the firm, in addition to the salary allowed by the income-tax officer. we have to, therefore, agree with the tribunal so far as the remuneration paid to murugesa mudaliyar is concerned.13. we answer the ..... to be deducted under section 37 as an amount wholly and exclusively incurred for the business of the firm. on the facts found by the income-tax officer, the appellate assistant commissioner as well as the tribunal, it has to be taken that shanmugasundaram rendered services to the firm during the assessment ..... questioned by the revenue. therefore, we have to proceed on the basis that the recitals contained in the agreement are true. even otherwise, the income-tax officer, the appellate assistant commissioner as well as the tribunal have found that shanmugasundaram had been working in this firm in the assessment year and the ..... remuneration paid to p. shanmughasundaram18,813(2)the remuneration paid to m. p. murugesa mudaliar12,5423. it was contended by the assessee before the income-tax officer that the above two persons were entitled to remuneration at the rate of 0-3-0 and 0-2-0 in the rupee respectively out .....

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Nov 15 1973 (HC)

Commissioner of Income-tax, Bombay City I Vs. Associated Cement Compan ...

Court : Mumbai

Decided on : Nov-15-1973

Reported in : [1974]96ITR650(Bom)

..... profit earning process or operations and, therefore, could not be a revenue expenditure or allowed as a deduction under section 10(2)(xv) of the indian income-tax act, 1922. 8. section 10(2)(xv) of the indian income-tax act, 1922, provides as follows : 'any expenditure (not being an allowance of the nature described in any of the clauses (i) to (xiv) inclusive, and not ..... the expenditure as cannot be related to the increase in the assets of the assessee-company must be allowed as a deduction under section 10(2)(xv) of the indian income-tax act, 1922. vimadalal, j. 24. in my opinion, the mere application of the legal principles laid down by the supreme court in the three different cases which have been referred to ..... s.k. desai, j. 1. this is a reference by the income-tax appellate tribunal, bombay bench 'b', under section 66(1) of the indian income-tax act, 1922. the tribunal by the said reference has posed the following question for our consideration : 'whether, on the facts and in the circumstances of the case, the expenditure of rs. ..... an advantage of an enduring nature, but that it was a payment of a composite sum of revenue outgoings for the following fifteen years. the income-tax department thereafter appealed to the income-tax appellate tribunal. 4. before the income-tax appellate tribunal it was contended on behalf of the department that all that the assessee obtained was an enduring advantage in the shape of freedom .....

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Aug 01 1973 (HC)

GulamhusseIn Ebrahim Matcheswalla (by His Legal Heirs) Vs. Commissione ...

Court : Mumbai

Decided on : Aug-01-1973

Reported in : [1974]97ITR24(Bom)

..... kantawal, c.j. 1. by this reference under section 66(2) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), the following question is referred to us for our determination at the instance of the assessee : 'whether there was ..... of a capital nature and was expended for the repairs of property occupied for the purpose of trade, and as such was rightly deductible from the income assessable to income-tax. their lordships of the privy council referred to the observations of buckeley l. j. in lurcott v. wakeley and wheeler : ''repair' and ..... can be regarded as being expenditure in the nature of a capital expenditure. as pointed out in new shorrock spinning and . v. commissioner of income-tax, the expression 'repairs' must be understood in contradistinction to renewal or restoration. the test that has to be applied is that as a result ..... relevant accounting periods constituted permissible deductions wither under section 10(2)(v) or section 12(2) of the act for the respective assessment years. in the appeal preferred by the revenue the income-tax appellate tribunal partially allowed the appeal. the tribunal took the view that the provisions of section 12 of the ..... act alone were applicable; that part of the expenditure incurred was of a revenue nature and the remaining part .....

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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, .....

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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 .....

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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 .....

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