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Judgment Search Results Home > Cases Phrase: income tax act Year: 1974 Page 1 of about 699 results (0.089 seconds)

Mar 01 1974 (HC)

Bhadarmal Hazarimal Vs. Income-tax Officer, a Ward

Court : Guwahati

Decided on : Mar-01-1974

..... the supreme court as quoted hereinabove, we are clearly of opinion that in the instant case the authority has jurisdiction to issue the impugned notice under section 148 of the income-tax act. in the result, we find that this petition has no merits. 19. the petition is accordingly rejected. the rule is discharged. we, however, make no order as to ..... article 226 of the constitution of india the petitioner has challenged the notice under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the 1961 act'), issued by the income-tax officer, ' a ' ward, jorhat, to the petitioner-firm. the petitioner submitted its return of income for the assessment year 1958-59, corresponding to the accounting year r. n. 2014, along with ..... for the assessment year 1958-59 were completed by the income-tax officer, jorhat, under section 23(5)(a) of the indian income-tax act, 1922, on october 30, 1958. the income-tax officer estimated the income of the-petitioner-firm at rs. 22,863. the partners of the firm paid tax separately on the share of income of the firm. 2. the petitioner-firm thereafter received ..... fully and truly all material facts necessary for its assessment for the assessment year in question, income chargeable to tax had escaped assessment for that year.12. in calcutta discount co. ltd. v. income-tax officer : [1961]41itr191(sc) while considering section 34(1)(a) of the indian income-tax act, 1922, the supreme court has observed as follows: ' before we proceed to consider the .....

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Mar 25 1974 (HC)

Shivkisan Laxminarayan Jaju and Sons Vs. Commissioner of Income-tax, P ...

Court : Mumbai

Decided on : Mar-25-1974

Reported in : [1976]105ITR359(Bom)

..... : '2. any firm constituted under an instrument of partnership specifying the individual shares of the partners may, under the provisions of section 26a of the indian income-tax act, 1922, register with the income-tax officer, the particulars contained in the said instrument on application made in this behalf ?' 13. the second paragraph of this rule provides for the persons by whom ..... by the partners making an application for such renewal. 22. mr. joshi urged that the scheme of registration of a firm under the act and the income-tax act, 1961, is different. so far as the act is concerned registration of the firms has to be made for one year for which it is registered and from year to year such registration ..... of deceased laxminarayan, was taken as a partner. 2. on june 29, 1959 an application for renewal of registration of the assessee-firm under section 26a if the income-tax act, 1922 (hereinafter referred to as 'the act'), for the assessment year 1959-60 was filed. this application was signed by the eight surviving partners and godavaribai. 3. the ..... issued in the following form, namely : instrument of partnershipthis ---------------------------------------------- has thiscertified copy of an instrument of partnershipday been registered with me, the income-tax officer for.......in the state of...... been section 26a of the indianincome-tax act, 1922 and this certificate of registration shall haveeffect for the assessment for the year ending on themarch 31, 19.....' 14. rule 5 provides .....

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Sep 18 1974 (HC)

R. Ramachandra Naidu Vs. Commissioner of Income-tax and anr.

Court : Chennai

Decided on : Sep-18-1974

Reported in : [1976]102ITR227(Mad)

..... , circle i, kancheepuram, the second respondent herein, and quashing the order dated january 28, 1972, made by him under section 132(5) of the income-tax act, 1961.2. armed with a warrant under section 132(1), the second respondent searched the premises of the petitioner at no. 36, kumarichetty street, kancheepuram, and seized out of a ..... petitioner's lands.5. it is seen from the statements and the supporting records produced by the petitioner that he was owning about 50 acres of garden lands, which the income-tax officer would call as 'dry lands' and another 30 acres of leasehold lands. it is also found that about 2,400 yielding coconut trees are in these lands. it was ..... such income is relatable. but the first proviso enables him to treat the entire estimated undisclosed income as the total income chargeable to tax in the financial year in which the assets ..... such an order to be made if the tax calculated on the amount of undisclosed income estimated by him under that provision or any amount that may be required to satisfy any existing liability of the petitioner under the act, exceeds the amount. it, therefore, becomes necessary for the income-tax officer to ascertain or estimate the undisclosed income and the particular previous year to which .....

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Nov 18 1974 (HC)

M.S. Balakrishna Chetty Vs. Commissioner of Income-tax

Court : Chennai

Decided on : Nov-18-1974

Reported in : [1975]101ITR557(Mad)

..... which are sent to us as annexure with the stated case.6. the learned counsel is not able to rely on any specific provision in the income-tax act, 1961, enabling him to claim this amount as a deduction in the assessment year 1963-64. as already seen, the assessee was maintaining his accounts on the mercantile system. if ..... to claim deduction of this amount in the assessment year 1963-64. even otherwise, under sections 28 and 37 of the income-tax act, 1961, he could claim deduction of an expenditure only if the expenditure had been incurred for earning the income returned in the relevant assessment year. certainly, the assessee could not claim the sum of rs. 23,389 as an expenditure ..... mercantile system and, therefore, the deduction could be claimed only in regard to a liability accruing during the previous year. in that view, the tribunal confirmed the orders of the income-tax officer and the appellate assistant commissioner. at the instance of the assessee the tribunal has referred the following question :'whether, on the facts and in the circumstances of the case ..... incurred a liability of rs. 1,49,776 on account of sales tax determined to be payable by the sales tax authorities. the assessee was disputing this amount. when the sales tax assessment proceedings were pending in appeal, the assessee claimed before the income-tax officer deduction of this disputed tax liability but the income-tax officer rejected the same on the ground that the assessee had contested .....

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Jun 27 1974 (HC)

Mathuradas Gokuldas Vs. Commissioner of Income-tax, Bombay City-iii

Court : Mumbai

Decided on : Jun-27-1974

Reported in : [1976]102ITR425(Bom)

..... of law are referred to us for determination under section 66(2) of the indian income-tax act, 1922. they are : '(1) whether there was any evidence or material to support the finding of the tribunal that the sum of rs. 1,38,000 represented the appellant's income from undisclosed sources (2) whether the conclusion arrived at by the tribunal that the sum ..... or not, it is unnecessary for us to go into the facts in detail. for the assessment year 1947-48, the relevant accounting year is the calendar year 1946. the income-tax officer, upon scrutiny of the material before him, assessed the assessee to the total amount of rs. 3,69,371 which included a sum of rs. 1,38,000 being ..... shown by particulars in item 14 of the declaration she has encashed 238 notes of rs. 1,000 each. while assessing the assessee for the assessment year 1947-48, the income-tax officer directly applied his mind to the question whether the sum of rs. 2,38,000 representing 238 notes of rs. 1,000 each was her ..... settled position in law there can be no two answers to this question. 5. in baladin ram v. commissioner of income-tax, the supreme court has taken the view that it is now well-settled that the only possible way in which income from an undisclosed source can be assessed or reassessed is to make the assessment on the basis that the previous .....

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Aug 08 1974 (HC)

Commissioner of Income-tax, Bombay City Ii Vs. M. Bhuta and Co.

Court : Mumbai

Decided on : Aug-08-1974

Reported in : [1976]103ITR183(Bom)

..... tulzapurkar, j. 1. this is reference under section 66(2) of the indian income-tax act, 1922, and at the instance of the commissioner of income-tax, bombay city ii, bombay, as directed by this court by its order dated of march 10, 1964, the tribunal has submitted the ..... tribunal against the said addition of rs. 47,940 maintained in the assessment by the appellate assistant commissioner. 4. the income-tax officer started penalty proceedings under section 28(1)(c) of the act. initially they were started in respect of the amount of rs. 2,50,000 but they were later on continued only ..... as filed by the assessee-firm with the bank are............' 6. then follows a list of several items of excess stock and in paragraph 2 the income-tax officer has categorically stated that 'for the two items on the list, viz., 175 bags of cotton and 28 bags of groundnuts, no explanation has ..... one of the partners of the firm who was no more but who alone was in the know of things. this explanation was disbelieved by the income-tax officer. but when the matter was carried to the appellate assistant commissioner, further enquiries were made and the appellate assistant commissioner found that the undisclosed stock ..... by the assessee-firm. in support of his contention he relied upon the decision of the delhi high court in durga timber works v. commissioner of income-tax. in that case the assessee was asked to adduce evidence to establish certain cash credits appearing in its books and was further asked to explain the .....

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Dec 03 1974 (HC)

Kishinchand Chellaram Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Dec-03-1974

Reported in : [1978]114ITR671(Bom)

..... accounting the correct profits of the business were not deductible, the operation of the proviso to section 13 of the income-tax act would be attracted, and that it was for the income-tax authorities to consider the material which was placed before them and, if, after taking into account in any case the ..... true profits of the assessee could not be determined and resort must, therefore, be had to the proviso to section 13 of the indian income-tax act, 1922. the relevant assessment year was 1950-51 and the court is concerned in this reference with the branches of the assessee-firm at madras ..... the following questions to us : '1. whether, on the facts and in the circumstances of the case, the proviso to section 13 of the indian income-tax act, 1922, was rightly applied in respect of the three branches of the assessee-company, namely, 'eastern stores, madras', 'kishinchand chellaram, otacamund' and ' ..... made was not such a serious defect as to make the proviso to section 13 inapplicable. in the case of chhabildas tribhuvandas shah v. commissioner of income-tax : [1966]59itr733(sc) , the supreme court, reiterated (at page 737) that the court is not concerned with the correctness of the conclusion of ..... arisen and has been determined. one such case was the case before a bench of this court, viz, that of dhondiram dalichand v. commissioner of income-tax : [1971]81itr609(bom) where, though the assessee made a false claim that he was a wholesale dealer, the real position was that his business .....

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Aug 28 1974 (HC)

Commissioner of Income-tax Vs. K.S. Reddy

Court : Andhra Pradesh

Decided on : Aug-28-1974

Reported in : [1976]103ITR822(AP)

..... on the net receipts as shown by him and not on the basis of the gross value of the bills. the commissioner of income-tax moved the tribunal for reference under section 66(1) of the income-tax act, but as that application was dismissed, he moved this court under section 256(2) and this court directed the tribunal to submit the statement of case ..... deducting the cost of the material supplied to him by the government. a similar question, as in this case, arose in the case of brij bushan lal v. commissioner of income-tax and the learned judges of the punjab high court justified the order of the tribunal which held that the price of the stores supplied by the military authorities must be ..... contrary to the view expressed by this court in its judgment in r. cs. nos. 52/62 and 36/66, dated 2ist december, 1966 (v.d. rajarathanam v. commissioner of income-tax : [1968]68itr19(ap) ), and that where an assessee does not at all place his accounts and says that he has no accounts at all to be placed, the estimate of ..... . this is a case where the assessee at no time chose to produce the accounts to satisfy the income-tax officer, or the appellate assistant commissioner, or the tribunal as to the true profits or income derived by him from his contract works. he left the income to be estimated by the income-tax officer on the basis of his receipts. therefore, the profits or the .....

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Feb 16 1974 (HC)

Commissioner of Income-tax Vs. Faizuddin

Court : Allahabad

Decided on : Feb-16-1974

Reported in : [1977]108ITR395(All)

..... under section 256(2) of the income-tax act also the department has not asserted that the point with regard to the applicability of the explanation to section 271(1)(c) was raised before the tribunal and it had ..... by the assessee. in the absence of such a finding the explanation cannot be pressed into aid. we in our advisory jurisdiction under section 256(1) of the income-tax act cannot record such a finding and in the absence of such a finding the question as to whether the explanation is applicable or not cannot be answered. in its application ..... of the case, the tribunal was legally correct in cancelling the penalty of rs. 12,000 levied under section 271(1)(c)/274(2) of the income-tax act, 1961. 2. the assessee is an individual and derives income from various sources, including the running of motor workshop, contract business, truck plying on hire and truck financing. for the assessment year 1966-67, the ..... sum of rs. 16,000 being an unexplained cash credit. the income-tax officer also initiated proceeding for levy of penalty under section 271(1)(c) of the income-tax act, 1961. as the minimum penalty imposable was more than rs. 1,000, the income-tax officer transferred the proceedings to the inspecting assistant commissioner of income-tax. the inspecting assistant commissioner levied a penalty of rs. 12,000 .....

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May 08 1974 (HC)

iron Traders P. Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Decided on : May-08-1974

Reported in : [1974]97ITR606(Delhi)

..... delhi bench (hereinafter referred to as 'the tribunal'), in compliance with the direction of this court under section 66(2) of the indian income-tax act, 1922 (hereinafter called as 'the act'):'1. whether, on the facts and in the circumstances of the case, the amount of rs. 5,256 deducted by m/s. iron ..... the assessed-company. there is no dispute that the expenditure claimed by the assessed-company was in fact incurred in prosecuting this complaint. in commissioner of income-tax v. dhanrajgirji raja narasingirji, : [1973]91itr544(sc) , the supreme court held on similar facts that:'it is not correct to say that ..... this amount. annexure 'n' is the copy of the complaint filed against shri shiv saran lal under section 409, indian penal code. neither the income-tax authorities nor the tribunal have recorded any finding that the facts stated in any of the above documents were not true. these documents, thereforee, ..... assessed-company against the former managing director, shri shiv saran lal. the claim for the allowance of this expenditure was also disallowed by the income-tax authorities as well as by the tribunal on the ground that the criminal complaint had no connection with the carrying on of the business ..... fact incurred by the assessed in connection with the suit filed by shri shiv saran lal. the assessed's claim was disallowed by the income-tax authorities as well as by the tribunal on the ground that this suit arose out of the personal differences between shri shiv saran lal .....

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