Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Year: 1981 Page 1 of about 1,412 results (0.098 seconds)

Apr 15 1981 (SC)

Commissioner of Income Tax, New Delhi Vs. Federation of Indian Chamber ...

Court : Supreme Court of India

Decided on : Apr-15-1981

Reported in : AIR1981SC1408; (1982)2CompLJ451(SC); (2009)22CTR(SC)124; [1981]130ITR186(SC); 1981(1)SCALE637; (1981)3SCC156; [1981]3SCR489; 1981(13)LC540(SC)

..... trust which are incidental or ancillary to the main purpose of the trust. the contention must, therefore, fail.in the result, the reference under section 257 of the income tax act, 1961 made by the income tax appellate tribunal, delhi-b, new delhi, must be answered against the revenue and in favour of the assessee. there shall be no order as to costs.venkataramiah, j ..... revenue and in favour of the assessee.a.p. sen, j.2. this direct reference under section 257 of the income tax act, 1961 (hereinafter referred to as 'the act') made by the income tax appellate tribunal delhi bench 'b' at the instance of the commissioner of income tax, delhi ii, new delhi raises the much vexed question as to whether the words 'not involving the carrying on ..... . andhra chamber of commerce : [1965]55itr722(sc) . in the immediately preceding assessment years 1960-61 and 1961-62, the income of the assessee was treated as exempt from tax under section 4(3)(i) of the income tax act, 1922.8. the income tax officer, however, felt that the decision of this court in the andhra chamber of commerce's case (supra) was no longer good law ..... at the expense of others? this is a question which necessarily arises when we read section 11 of the income-tax act, 1961. section 11 as it stands now grants exemption from payment of tax on any income, which would have otherwise been taxable, provided (1) the property yielding income is held under trust or such other legal obligation which is brought into existence by an .....

Tag this Judgment!

May 08 1981 (SC)

Jamnaprasad Kanhaiyalal Vs. Commissioner of Income Tax, M.P., Bhopal

Court : Supreme Court of India

Decided on : May-08-1981

Reported in : AIR1981SC1759; (1981)23CTR(SC)146; [1981]130ITR244(SC); (1981)3SCC441; [1981]3SCR849

..... disclosure scheme.14. under sub-section (1) of section 24, a person was required to make a voluntary disclosure in respect of the amount representing the income chargeable to tax under the indian income tax act, 1922 or the income tax act, 1961 for any assessment year commencing on or before april 1, 1964. sub-section (1) makes it clear that the declarations, which were expected to be ..... august, 1965, and before the 1st day of april, 1966, a declaration in accordance with sub-section (2) in respect of the amount representing income chargeable to tax under the indian income-tax act, 1922 (11 of 1922), or the income-tax act, 1961 (43 of 1961), for assessment year commencing on or before the 1st day of april, 1964-(a) for which he has failed to furnish ..... 19th day of august, 1965, under the indian income tax act, 1922 (11 of 1922) or the income tax act, 1961 (43 of 1961), or(c) which has escaped assessment by reason of the omission or failure on the part of such person to make a return ..... a return within the time allowed under section 22 of the indian income-tax act, 1922 (11 of 1922), or section 139 of the income-tax act, 1961 (43 of 1961), or(b) which he has failed to disclose in a return of in come filed by him on or before the .....

Tag this Judgment!

May 04 1981 (HC)

Commissioner of Income-tax, Gujarat-i Vs. Kartikey V. Sarabhai

Court : Gujarat

Decided on : May-04-1981

Reported in : (1981)24CTR(Guj)184; [1981]131ITR42(Guj)

..... of the in favour of thecase, the tribunal was right revenue.in law in holding that therewas a transfer within themeaning of section 2(47) ofthe income-tax act, 1961, ofthe shares contributed bythe assessee as capital tothe partnership firm in whichhe was a partner ?it is clarified thatthe factual position asto whether or ..... the circumstances of the case, the tribunal was right in law in holding that there was a transfer within the meaning of section 2(47) of the income-tax act, 1961, of the shares contributed by the assessee as capital to the partnership firm in which he was a partner ?' 31. so far as this ..... from the transfer of or accruing from thethe shares held by him to the transaction are exigiblepartnership firm as his to tax undercapital contribution, the section 45 of thecost of acquisition of the income-tax act of 1961.shares to the assessee beingrs.1,49,819 and the marketvalue of the shares beingrs.1,60,279 ? ..... the two matters for a certificate of fitness to appeal to the supreme court as envisioned by section 261 of the income-tax act, 1961. we consider each of the two cases to be a fit one for appeal to the supreme court. we certify accordingly. ..... be pointed out that the general concept of relationship between a partner and the firm as applicable under the indian partnership act, 1932, acquires a particular significance under the provisions of the income-tax law. the line of division between a partner and the firm as obtaining under the partnership law need not necessarily .....

Tag this Judgment!

Aug 17 1981 (HC)

Arundhati Balkrishna Vs. Commissioner of Income-tax, Gujarat

Court : Gujarat

Decided on : Aug-17-1981

Reported in : (1982)29CTR(Guj)85; [1982]138ITR245(Guj)

..... were not transferseffected before march 1, 1970,as contemplated in section47(viii) of the income-tax act,1961 ?3. whether, on the facts and in in the affirmative andthe circumstances of the case, against the assessee inthe tribunal was right in view of smt. ..... of theregistration of the instrumentof transfer subsequent tofebruary 28, 1970, the transfersin questions were not transferseffected before march 1, 1970,as contemplated in section47(viii) of the income-tax act,1961 ?2. whether, on the facts and in in the negative andthe circumstances of the case, against the revenue.the tribunal was justified inholding that the transfers inquestion ..... were not transferseffected before march 1, 1970,as contemplated in section47(viii) of the income-tax act,1961 ?3. whether, on the facts and in in the negative andthe circumstances of the case, against the revenue.the tribunal was justified innot accepting the assessee ..... because of theregistration of the instrumentof transfer subsequent tofebruary 28, 1970, the transfersin question were not transferseffected before march 1, 1970, ascontemplated in section 47(viii)of the income-tax act, 1961 ?2. whether, on the facts and in in the negative andthe circumstances of the case, against the revenue.the tribunal was justified inholding that the transfers inquestion .....

Tag this Judgment!

Aug 26 1981 (HC)

The Additional Commissioner of Income Tax Vs. Gedore Tools (India) Pvt ...

Court : Delhi

Decided on : Aug-26-1981

Reported in : (1982)27CTR(Del)63; [1982]134ITR592(Delhi)

..... for our present purposes provided that income tax was not payable by an assessed on so much of the profits and gains derived ..... the controversy in the reference raises a question of the interpretation of rule 19 of the income-tax rules, 1962. it may be convenient before setting out the facts to refer to the statutory provisions. section 84 of the income-tax act, 1961 as it stood at the relevant time and in so far as it is relevant ..... before the appellate assistant commissioner and was not raised by the department even in the fresh ground of appeal raised before vs. (6) the commissioner of income-tax is aggrieved by the order of the tribunal and on his application the two following questions have been referred to us: '1. whether the tribunal ..... 25,606 due to the assessed company. the average of the two figures mentioned above was rs. 14,40,998 and it is this figure that the income-tax officer substituted, for the figure of rs. 18,25,606 taken into account earlier. (5) on appeal, the appellate assistant commissioner was of opinion that ..... such undertaking computed in the prescribed manner. the computation of the capital for the purposes' of this section was provided for by rule 19 of the income-tax rules. 1962. this rule has. six sub-clauses but for our purposes it is sufficient if the first subclause is set out. rule 19(1) .....

Tag this Judgment!

Jul 21 1981 (SC)

Beharilal Ramcharan Vs. Income Tax Officer, Special Circle 'B' Ward, K ...

Court : Supreme Court of India

Decided on : Jul-21-1981

Reported in : AIR1981SC1585; (1981)24CTR(SC)116; [1981]131ITR129(SC); 1981(3)SCALE1059; (1981)3SCC473; [1982]1SCR1; 1981(13)LC935(SC)

..... . bhagwati, j.1. this appeal by certificate raises a short question of law relating to the interpretation of section 226(3) of the income tax act 1961. the petitioners were at all material times a partnership firm carrying on business as bankers and dealers in cloth and over the years, ..... liability to the assessee on the date of the notice, or to the extent of assessee's liability for any sum due under this act, whichever is less. (viii) the income-tax officer shall grant a receipt for any amount paid in compliance with a notice issued under this sub-section, and the person so ..... determining what precise amount was due from the petitioners to b.r. sons limited, held that the petitioners were personally liable to the income-tax officer under clause (vi). the income-tax officer did set out in his notice dated 31st december, 1966 the reasons which prevailed with him in reaching this decision but he did ..... amount was due from the petitioners to b.r. sons ltd. the petitioners would be personally liable to pay such amount to the income-tax officer. the question is whether the income-tax officer could be said to have discovered that the statement on oath made in the affidavit of the accountant of the petitioners that ..... petitioners under section 226(3)(i) stating that a sum of rs. 22,89,281.97 was due from b.r. sons limited on account of income tax, super tax, penalty etc. and requiring the petitioners to pay to him forthwith any amount due from the petitioners to b.r. sons limited or held by .....

Tag this Judgment!

Apr 23 1981 (SC)

Ganga Saran and Sons P. Ltd. Vs. Income-tax Officer and ors.

Court : Supreme Court of India

Decided on : Apr-23-1981

Reported in : AIR1981SC1363; (1981)22CTR(SC)112; [1981]130ITR1(SC); [1981]3SCR564

..... appeal against a decision of a single judge which quashed and set aside a notice dated 28th march 1968 issued by the income tax officer under section 148 of the indian income tax act, 1961 seeking to reopen the assessment of the assessee for the assessment year 1959-60. the facts giving rise to ..... and so was the interest paid on the credit balances in their respective accounts.4. on 28th march, 1968 the income tax officer issued a notice under section 148 of the income tax act, 1961 seeking to reopen the assessment of the assessee for the assessment year 1959-60 on the ground that the ..... income of the assessee had escaped assessment at the time of the original assessment. since a period of four years ..... deo datt sharma as a permissible deduction. the writ petition was accordingly allowed by him and the notice issued by the income tax officer was quashed and set aside. the income tax officer thereupon preferred an appeal before a division bench of the calcutta high court and the learned judges constituting the division ..... to disclose fully and truly all material facts necessary for his assessment. if either of these conditions is not fulfilled, the notice issued by the income tax officer would be without jurisdiction. the important words under section 147(a) are 'has reason to believe' and these words are stronger than the .....

Tag this Judgment!

Nov 20 1981 (HC)

Commissioner of Income-tax, Madras (Central) Vs. Devi Films (P) Ltd.

Court : Chennai

Decided on : Nov-20-1981

Reported in : (1982)31CTR(Mad)341; [1983]143ITR386(Mad)

..... decision of the supreme court. it is enough to set out certain principles which have been summarised at p. 530 : 'income-tax is a tax on the real income, i.e., the profits arrived at on commercial principles subject to the provisions of the income-tax act. the real profit can be ascertained only by making the permissible deductions. there is a clear-cut distinction between deductions ..... . it credited the interest to a separate account known as interest suspense account. on a reference, it was held by the kerala high court that there was accrual of income liable to tax and that the assessee was not justified in not crediting the interest accrued on such advances in its interest account. the court has not gone into the principle of ..... sethuraman, j.1. at this instance of the commissioner of income-tax and in pursuance of the directions of this court, two questions have been referred under s. 256(1) of the i.t. act, 1961. the first of them is : 'whether, on the facts and in the circumstances of the case and having regard to the terms of the agreement entered into between ..... background of these facts that we have to examine the relevant authorities. 8. the bombay high court in h. m. kashiparekh & co. v. cit : [1960]39itr706(bom) , enunciated the principle of 'real income' applicable to the taxation of income. in that case, the assessee maintained its account on the mercantile system of accounting. it was the managing agent of a paper mill. under .....

Tag this Judgment!

Sep 22 1981 (HC)

Commissioner of Income-tax, Bombay City-ii Vs. Govindram Brothers Pvt. ...

Court : Mumbai

Decided on : Sep-22-1981

Reported in : [1983]141ITR777(Bom); [1982]9TAXMAN177(Bom)

..... it was written off as bad debt in the course of money-lending business during the year in question and rightly claimed as deduction under the income-tax act.'4. the three partners in the firm of m/s.hindustan film syndicate were (1) gajadhar chandiprasad (brother-in-law of prahladrai, a director ..... of the assessee and allowed the claim. we do not find any reason to deviate from the finding arrived at by the commissioner of income-tax and the income-tax officer in the earlier year, and we, therefore, delete the addition made in this respect.'12. with respect to the tribunal, the ..... the above paragraph accepting the contention of the assessee and setting aside the disallowance is that in the assessment year 1956-57, the commissioner of income-tax 'was satisfied that the employee rendered service and allowed the amount in toto'. the order of commissioner for the said year has been annexed ..... had not been impeached. subsequently, according to the tribunal, the interest on the debit balance in the accounts was charged and assessed in to income-tax assessment proceeding according to the tribunal, therefore, it was too late for the revenue to go back on its own findings and dispute the legal ..... the claim as being premature. this conclusion, however, was not accepted by the aac.7. when the matter was carried in appeal to the income-tax appellate tribunal, the tribunal held that the assessee had made advances and rejected the contention of the department that the assessee was not carrying on money .....

Tag this Judgment!

Apr 23 1981 (SC)

S. Ganga Saran and Sons (Pvt.) Ltd., Calcutta Vs. Income Tax Officer a ...

Court : Supreme Court of India

Decided on : Apr-23-1981

Reported in : 1981(1)SCALE883; (1981)3SCC143; 1981(13)LC533(SC)

..... appeal against a decision of a single judge which quashed and set aside a notice dated 28th march 1968 issued by the income tax officer under section 148 of the indian income tax act, 1961 seeking to reopen the assessment of the assessee for the assessment year 1959-60. the facts giving rise to the ..... and so was the interest paid on the credit balances in their respective accounts.4. on 28th march, 1968 the income tax officer issued a notice under section 148 of the income tax act, 1961 seeking to reopen the assessment of the assessee for the assessment year 1959-60 on the ground that the ..... assessee to disclose fully and truly all material facts necessary for his assessment. if either of these conditions is not fulfilled, the notice issued by the income tax officer would be without jurisdiction. the important words under section 147(a) are 'has reason to believe' and these words are stronger than the ..... income of the assessee had escaped assessment at the time of the original assessment. since a period of four years had ..... and other directors on account of commission and bonus. on appeal by the assessee the appellate assistant commissioner disagreed with the view taken by the income tax officer and allowed the entire amount paid to the managing director and other directors by way of commission and bonus, so far as deo datt .....

Tag this Judgment!


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