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Judgment Search Results Home > Cases Phrase: income tax act Year: 1973 Page 6 of about 788 results (0.101 seconds)

Mar 19 1973 (HC)

Dilip Kumar Roy Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Mar-19-1973

Reported in : [1974]94ITR1(Bom)

..... contemporaneous documents, and disregarding the letter dated march 10, 1953, held that the amount was a taxable receipt in the hands of the assessee under section 7(1) of the income-tax act read with explanation 2 (before amendment in 1955).' 11. the decision of the tribunal was affirmed by the high court on a reference. on an appeal to the supreme court ..... kantawala, c.j.1. this is a reference to this court under section 66(1) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), at the instance of the assessee. the question referred for our determination relates to assessment years 1955-56, 1956-57, 1957-58, 1958-59 and 1959-60 for which the ..... of the property known as 'india milay harikrishna mandir' at poona.3. as assessments for some of the years were completed, there were reopened under section 34 of the act. 4. the income-tax officer took the view that even assuming that the amounts received were voluntary payments from the various persons, from the standpoint of the assessee they were taxable receipts being ..... a principle is quite apparent from the decision of the supreme court in mahesh anantrai pattani v. commissioner of income-tax. the head-note correctly sets out the facts and lays down the ratio of the decision as under : 'the assessee acted as the chief dewan of the native state of bhavnagar since december, 1937, and continued to hold that office until january .....

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Nov 22 1973 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. Raghavji Anandji and Co ...

Court : Mumbai

Decided on : Nov-22-1973

Reported in : [1975]100ITR246(Bom)

..... s.k. desai, j.1. this is a reference made by the income-tax appellate tribunal, bombay bench 'b', under section 66(1) of the indian income-tax act, 1922.2. the assessee is messrs. raghavji anandji & co. we are concerned with the assessment year 1959-60, the corresponding previous year being s. y. 2014.3. messrs. raghavji anandji & ..... persons. this order of the commissioner of income-tax under section 33b(1) of the act is annexed to the paper book as annexure 'd' to the statement of the case. there was thereafter an appeal to the income-tax appellate tribunal and the tribunal by its order dated 18th may, 1962, set aside the order ..... 26a for the assessment year 1959-60 and the cancellation of the registration by the commissioner of income-tax was right in law ?' 4. it may be stated here that, according to me, the only reason why the commissioner acted under section 33b(1) of the act and cancelled registration of the firm to be found in his order (annexure 'd') is the fact ..... year 1959-60 was made, allowed registration under section 26a of the act on the basis of the partnership deed dated 21st march, 1958. the commissioner of income-tax, bombay city ii, however, after issuing notice under section 33b of the act, cancelled the registration of the firm and directed the income-tax officer to make assessments taking the status as that of an association of .....

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Mar 20 1973 (HC)

Commissioner of Income-tax Bombay City Ii Vs. Ramprasad Mehra and ors.

Court : Mumbai

Decided on : Mar-20-1973

Reported in : [1975]100ITR468(Bom)

..... are entitled to the refund of tax deducted at source on the divided income in respect of 500 shares of ramgopal ramprasad private ltd.' 3. when an application for refund was made ..... kantawala, c.j.1. this is a reference under section 66 (1) of the indian income tax act 1922 (hereinafter referred to as 'the act') at the instance of the revenue.2. one balmukchand has five sons. two of them of them are ramgopal and ramprasad. the five sons of balmukchand and a son of ..... under :1. whether, in the facts and circumstances of this case the income arising from 500 shares of ramgopal ramprasad private ltd. is assessable in the hands of ramgopal mehra and ramprasad mehra under the provisions of section 16 (1) (c) or section 16 (3) (b) of the income tax act 2. whether the two hindu undivided families of ramgopal mehra and ramprasad mehra ..... or disposition whether revocable or not, and whether effected before or after the commencement of the indian income tax (amendment) act, 1939 (vii of 1939), from assets remaining the property of the settler or disponer shall be deemed to be income of the settlor or disponer, and all income arising to any person by virtue of revocable transfer of assets shall be deemed to be .....

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Mar 09 1973 (HC)

Gulabsing Fattesing Vasave Vs. Commissioner of Income-tax, Poona

Court : Mumbai

Decided on : Mar-09-1973

Reported in : [1975]100ITR509(Bom)

..... were used by the tenants for agricultural purposes, was agricultural income within the meaning of section 2 (1) (a) and exempt from tax under section 4 (3) (viii) of the indian income-tax act, 1922 ?' 2. the question relates to the assessment year 1957-58 in respect of the previous year ending on july ..... the facts and circumstances of the case, the income derived by the assessee as a superior holder from the lands, which were used by the tenants for agricultural purposes, was not agricultural income within the meaning of section 2 (1) (a) and was not exempt from tax under section 4 (3) (viii) of the indian income-tax act, 1922.21. the assessee shall pay the costs ..... .1. this is a reference under section 66 (1) of the indian income-tax act, 1922, referred to us by the tribunal at the instance of the assessee. the question of law referred for our determination is as follows : 'whether, on the facts and in the circumstances of the case, the income derived by the assessee as a superior landholder from the lands, which ..... rent, etc. in compliance with the notice under section 22 (2) of the act, the assessee had filed a return of income showing the total income of rs. 1,29,913 as income from other sources. after making certain adjustments the assessment was completed by the income tax officer on a total income of rs. 1,61,701.3. in the appeal against the order of the .....

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Aug 03 1973 (HC)

Agri Orient Industries (P.) Ltd. Vs. Commissioner of Income-tax, Bomba ...

Court : Mumbai

Decided on : Aug-03-1973

Reported in : [1975]101ITR605(Bom)

..... same in contravention of the provisions of law, the provisions of section 23a could not be attracted. in alavai industries private ltd. v. commissioner of income-tax the court took the view that section 23a of the income-tax act, 1922, being penal in nature, the jurisdiction which the revenue could exercise under that section is exercisable only if the ingredients and the circumstances set ..... another decision of the calcutta high court in the case of ezra proprietary estates ltd v. commissioner of income-tax. in that case the assessee was a private limited company whose main source of income was income from property assessable under section 9 of the indian income-tax act, 1922. during the two accounting years, 1938 and 1939, the company made a profit of rs. 30,000 ..... tulzapurkar, j.1. the question of law that has been referred to us by the tribunal under section 66(1) of the indian income-tax act, 1922, at the instance of the assessee, for our determination runs as follows :'whether, on the facts and in the circumstances of the case, the provisions of section 23a(1) ..... to prove that the conditions laid down thereunder were satisfied before the order was made.12. in j. p. srivastava and sons (bhopal) private ltd. v. commissioner of income-tax the assessee-company acted as the managing agents of the new bhopal textile ltd. both the companies adopted the financial year as their accounting period. in the agreement between them the managing against .....

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Mar 20 1973 (HC)

Deviprasad Kejriwal Vs. Commissioner of Income-tax (Central), Bombay

Court : Mumbai

Decided on : Mar-20-1973

Reported in : [1976]102ITR180(Bom)

..... .1. the question that has been referred to us by the tribunal under section 66 (1) of the indian income-tax act, 1922, for our opinion runs as under :'whether, on the facts and in the circumstances of the case, the order of the income-tax officer, dated 31st march, 1962, levying a penalty of rs. 2,000 under section 18a (9) (a) read with ..... second occasion the assessment was made on a total income of rs. 2,38,440 on march 1, 1958. the assessee went in appeal ..... was filed on december 18, 1948, the assessment was made on a total income of rs. 54,369 on march 23, 1949. this assessment, it appears, was required to be reopened twice under section 34 of the indian income-tax act, 1922. on the first occasion during reassessment proceeding the total income was determined at rs. 94,802 on november 24, 1952, while on the ..... 18a (9). he, therefore, urged that the expression 'regular assessment' occurring in section 18a (9) must be confined to the initial or original assessment made by the income-tax officer under section 23 of the act. now the canon of construction referred to by mr. pandit is based on the presumption that ordinarily the same meaning is implied by the use of the .....

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Dec 04 1973 (HC)

New Kaiser-i-hind Spg. and Wvg. Co. Ltd. Vs. Commissioner of Income-ta ...

Court : Mumbai

Decided on : Dec-04-1973

Reported in : [1977]107ITR760(Bom)

..... assessment for the assessment years 1947-48 and 1950-51 by taking recourse to the provisions of section 34(1)(a) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'). neither the validity of the initiation of those proceedings nor the merits of the disallowance of the interest payable to m/s. vussonjee munjee ..... only necessary to bear in mind that the present clauses (a) and (b) came to be enacted as separate clauses therein only by the income-tax and business profits tax (amendment) act, 1948, which came into force on the of april 1, 1948. it is necessary to bear this fact in mind in order to view ..... assessee, a reference was made to the high court referring to it the question as to whether it was open to the income-tax officer under section 34(1)(a) of the act to reconsider the assessee's claim in respect of the losses from the sugar mill business for the assessment years, 1953-54 ..... the assessment had been reopened on a notice which was given specifically under section 34(1)(a) of the act, the income-tax office could reopen an item under section 34(1)(b) of the act, notwithstanding the fact that a fresh notice under that section would have been barred on the date on which ..... a comprehensive return. in this connection, it may be pointed out that no separate notice under section 22(2) of the act appears to have been given in the case of commissioner of income-tax v. mahaliram ramjidas [1940] 8 itr 442 cited above (vide page 446). there is nothing to be found in any .....

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Mar 04 1973 (HC)

Shriyans Prasad JaIn Vs. R.K. Bhalla, Income-tax Officer, Company Circ ...

Court : Mumbai

Decided on : Mar-04-1973

Reported in : [1974]94ITR34(Bom)

..... namely : 'whether, on the facts and in the circumstances of the case, the sum of rs. 7 lakhs is liable to tax under section 7 of the indian income-tax act ?' 3. the income-tax reference was heard by the high court and decided in favours of the assessee. the judgment of the high court is reported in : ..... to draw an inference from the material facts taken in conjunction with the surrounding circumstances. that was a case under section 34 of the indian income-tax act, 1922, and the supreme court laid down that to confer jurisdiction under section 34 to issue notice in respect of assessments beyond the period of ..... footing that the genuineness of the agreement as well as its legality were beyond doubt. he also considered the provisions of section 7 of the indian income-tax act, 1922, read with explanation 2 thereto as they were then existing. in the order he has pointed out that the services of the petitioner were ..... has rendered services to the company. 27. it will be necessary in this connection to refer to the provisions of section 7 of the indian income-tax act, 1922, as then existing. explanation 2 to section 7 provided that a payment due to or received by an assessee from an employer or former ..... the year 1955. the supreme court by a majority judgment has taken the view that 'compensation' in explanation 2 to section 7(1) of the income-tax act does not mean compensation which is payable or compellable at law. compensation for loss of employment is a well-known term : it means a payment .....

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Mar 02 1973 (HC)

H.N. Malak Vs. Aziz S. Yusuf

Court : Mumbai

Decided on : Mar-02-1973

Reported in : [1974]94ITR276(Bom); 1973MhLJ443

..... introduced and re-enacted in its new form, according to shri ghate, in substance the effect of section 54 of the indian income-tax act, 1922, and section 137 of the income-tax act, 1961, has not been taken away, but, on the contrary, the same provision has been carried out by the legislature in ..... documents even by issuing the summons. according to shri ghate, on a true construction of section 54 of the indian income-tax act, 1922, and section 137 and new section 138 of the income-tax act, 1961, it is quite clear that the intention of parliament was to preserve secrecy. the specific provision has been ..... being claimed by the plaintiff reads as under : '80. disclosure of information by a public servant. - the provision of section 54 of the indian income-tax act, 1922 (xi of 1922), shall apply to all accounts, statements, documents, evidence or affidavits given, produced or obtained in connection with or in the course ..... , etc., are governed by the code of civil procedure. this power is independent and is not restricted either by express words used in the income-tax act or even by implication. in the absence of any such provision, in my opinion, it cannot be held that the civil court has no ..... a public servant in respect thereof. (5) no prosecution shall be instituted under this section except with the previous sanction of the commissioner.' 7. the income-tax act, 1961 (no. 43 of 1961), came into force from april 1, 1962, and a provision was made in section 137 about the prohibition from .....

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Mar 05 1973 (HC)

Commissioner of Income-tax, Bombay City-i Vs. Lad Parishad Karyalaya

Court : Mumbai

Decided on : Mar-05-1973

Reported in : [1974]94ITR359(Bom)

kantawala, c.j.1. this is a reference under section 66(1), of the income-tax act, 1922, (hereinafter referred to as 'the act'), at the instance of the revenue. the question referred for our determination is : 'whether having regard to the terms of the constitution of the assessee-association, the properties of the ..... standing committee can raise funds and accept donations, presents, charities, etc., and will have power to administer them.' 3. it may be stated at the outset that neither before the income-tax officer nor at the stage of appeal before the appellate assistant commissioner was any contention raised on behalf of the revenue that the object for which the assessee was constituted ..... under trust or other legal obligation. it will be useful in this connection to refer to the observations of the privy council in all india spinners' association v. commissioner of income-tax : 'the constitution is a written instrument, the terms of which bind not only the trustees and council, but the members who by their application for membership accept its rules. any ..... counsel for the revenue to urge that the object is not for a charitable purpose is view of the fact that such a contention was not raised either before the income-tax officer or at the stage of appeal before the appellate assistant commissioner on behalf of the revenue, the provisions of section 4(3)(i) are directly applicable. accordingly, we answer .....

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