Court : Rajasthan
Decided on : Sep-11-1985
Reported in : 164ITR311(Raj)
..... to depreciation in respect of immovable property contributed to its capital by one of the partners. both these questions stand concluded by the decision of this court in cit v. amber corporation and cit v. amber corporation , following the decision of their lordships of the supreme court in addanki narayanappa v. bhaskara krishnappa : 3scr400 .3. in narayanappa's case : 3scr400 ..... his contribution towards the assets of the partnership firm, there was no transfer at all within the meaning of the transfer of property act and that there was no provision under the partnership act or under the indian registration act, which requires such bringing in of the property by the partner into the assets of the firm as requiring registration. it was observed ..... 1. we are of the view that the income-tax appellate tribunal, delhi bench-e, delhi, was right in holding that no question of law referable to this court arises in the present case.2. the assessee is a registered ..... , their lordships of the supreme court after a consideration of all the relevant provisions of the indian partnership act laid down the law as under (paragraph 5 at page 1304 .....Tag this Judgment!
Court : Rajasthan
Decided on : Apr-15-1985
Reported in : (1986)54CTR(Raj)104; 154ITR660(Raj)
..... in section 186(1).4. learned counsel for the commissioner submits that the two questions of law arising out of the order passed by the income-tax appellate tribunal dated december 15, 1983, should have been referred by the tribunal to this court. the first question relates to the application ..... the question of refusing to register the firm within the meaning of sub-section (5) of section 185 did not arise. the commissioner of income-tax (appeals) held that the partners should be presumed to have divided the profits earned outside the books as per their respective shares according to the ..... counsel appearing for the commissioner of income-tax, jodhpur.2. the assessee-firm was granted registration and was assessed under the status of a registered firm. the registration granted to the assessee-firm was continued for the subsequent year under section 184(7) of the i.t. act. a duplicate set of account ..... of the provisions of section 185(5) and the second question relates to the distribution of concealed income amongst the partners. as regards the first question, sub-section (5) of section 185 clearly speaks of refusal to register the firm for the ..... books was discovered during survey proceedings under section 133a, which prima facie showed concealed income. after giving notice to the assessee and after referring the matter to the iac, .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-02-1985
Reported in : 153ITR568(Cal)
..... aforesaid facts, the two questions were referred to this court.5. the supreme court in the case of brij mohan v. cit : 120itr1(sc) held that where a penalty is imposed for concealment of particulars of income, it is the law ruling at the date on which the act of concealment takes place which is relevant. it is wholly immaterial that the ..... rs. 5,27,184 which included the cash deposits held to be not genuine and treated as income from undisclosed sources. the ito initiated proceedings under section 271(1)(c) of the i.t. act, 1961, and referred the matter to the iac for imposition of penalty.3. on appeal against the quantum, the aac accepted the cash credits as genuine excepting ..... to an assessment year in the past. the concealment of particulars of income is effected by the assessee when the return of income was filed. in this case, the return of income was filed on october 17, 1966, and, accordingly, the explanation to section 271(1)(c) of the i.t. act, 1961, introduced with effect from april 1, 1964, will govern this case ..... and in the circumstances of the case and in view of the fact that the return of income was filed after april 1, 1964, the tribunal was right in holding that the provisions of the explanation to section 271(1)(c) of the i.t. act, 1961, introduced with effect from april 1, 1964, cannot be invoked in this case for the .....Tag this Judgment!
Court : Mumbai
Decided on : Sep-19-1985
Reported in : (1980)50CTR(Bom)212
bharucha, j.1. this is a reference under s. 256(1) of the it act, 1961. counsel are agreed that the tribunal's order has proceeded on the basis that the amount of rs. 50,000, received by the assessee-firm has the value of good-will, was not assessable as a long term capital gain in view of the fact that it was self generating assets. counsel are agreed that, in the circumstances, and in view of the judgment of the supreme court in cit v. b. c. srinivasa shetty : 128itr294(sc) . the question must be answered in the negative and in favour of the assessee. the question is so answered.2. no order as to costs.Tag this Judgment!
Court : Karnataka
Decided on : Apr-16-1985
Reported in : (1985)48CTR(Kar)28; 155ITR277(KAR); 155ITR277(Karn); 1985(2)KarLJ128
..... survey nos. 193 and 207/1 on november 8, 1973. 4. in the assessment of the assessee for the assessment year 1974-75, the income-tax officer (ito) brought to tax, under 'capital gains', the compensation received by the assessee in respect of the acquisition of three survey numbers by the citb. the assessee challenged ..... the transfer took place. 9. under s. 2(47) of the i.t. act, the term 'transfer' is defined as : 'transfer', in relation ..... the government under the land acquisition act. 8. under s. 45 of the i.t. act, any profits or gains arising from the transfer of a capital asset effected in the previous year is chargeable to income-tax under the head 'capital gains' and shall be deemed to be the income of the previous year in which ..... in the affirmative and against the assessee. 19. the question is answered accordingly, and we hold that for the purposes of capital gains tax under s. 45 of the i.t. act, the transfer of the lands acquired took place on april 21, 1973, and november 8, 1973, and during the previous year ending ..... rajasekhara murthy, j.1. the income-tax appellate tribunal, bangalore bench, has referred the following question of law for our opinion under s. 256(1) of the i.t. act, 1961, at the instance of the assessee : 'on the facts and in the circumstances of the case, whether the tribunal was .....Tag this Judgment!
Court : Karnataka
Decided on : Jun-03-1985
Reported in : 156ITR269(KAR); 156ITR269(Karn)
..... words had ignored the oft-quoted classical statement of rowlatt j. in cape brandy syndicate v. irc  1 kb 64, which reads thus (p. 71) : 'in a taxing act one has to look merely at what is clearly said. there is no room for any intendment. there is no equity about a ..... of the assessee, the tribunal, referring to the dictionary meanings of 'canteen', has held that a 'co-operative stores' was a canteen. section 32(1)(iv) of the act specifying certain types of buildings used for the purpose of residence of persons employed in the business or where the building is used solely or mainly for the welfare of ..... is disputed by the revenue. 6. sri k. srinivasan, learned senior standing counsel appearing for the revenue, contends that on the plain language of s. 32(1)(iv) of the act, a 'co-operative stores' cannot be treated as a 'canteen' for which reason, the initial depreciation claimed on the construction of the same was inadmissible. 7. sri. k. p ..... to answer question no. 2. as regards question no. 3, the assessee had obtained relief for the previous year in i.t.r.c. nos. 70 to 73 of 1978 (cit v. bharat earth movers ltd. : 155itr321(kar) . hence, question no. 3 no longer survives for consideration. we, therefore, hold that it is unnecessary to examine and ..... puttaswamy, j.1. in these cases, the income-tax appellate tribunal, bangalore bench, bangalore (tribunal), at the instance of the assessee and the revenue had stated a case and has referred the following questions of law for .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Aug-28-1985
Reported in : (1986)52CTR(MP)329; 156ITR134(MP)
..... the impugned provisions and, therefore, they have sufficient interest to raise the question of the constitutional validity of these provisions. the petitioners are businessmen, practising lawyers including income-tax practitioners and other professionals, who may be affected by these provisions. further facts relating to the individual petitioners are not necessary for deciding the question of constitutional validity ..... under article 226 of the constitution, challenge is made to the constitutional validity of ss. 44ab and 271b of the i.t. act, 1961 (hereinafter called 'the act'), introduced in the act by section 11 of the finance act, 1984 (act no. 11 of 1984), rule 6g in chapter ccc introduced in the i.t. rules, 1962 (hereinafter called 'the rules ..... discrimination made between a legal practitioner and an 'accountant' for the purpose of appearance as an ' authorised representative' of the assessee in accordance with section 288 of the act. if a person clubbed with others in section 288 possesses some further qualification enabling him to perform a function in addition to appearnce as an ' authorised representative ' ..... of the impugned provisions. the impugned provisions introduced in the i.t. act, 1961, and the i.t. rules, 1962, are as under :' 44ab. audit of accounts of certain persons carrying on business or professions--every person,-- (a) carrying .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Jan-18-1985
Reported in : 154ITR227(P& H)
..... of the i.t. act, 1961, by the ito, hissar (annexure p-4 to this petition), and the proceedings taken thereon be quashed.2. the facts which gave rise to this petition are that petitioner no. 5, the firm messrs mohinder pal ajay kumar, timber merchants, kath mandi, hissar, is an income-tax assessee and is being assessed to income-tax by the ito, a ..... -ward, hissar. on august 31, 1981, the firm, messrs mohinder pal ajay kumar, filed a return of income dated august 31, 1981, along with the copies of statement of accounts, i.e., statutory ..... income chart, profit and loss account, statement of partners account, balance-sheet, etc., for the assessment year 1981-82, relevant ..... made false entries therein regarding the stock held by it and wilfully omitted to mike entries of profit in those books and the act of omission and of making false entries in those books enabled the petitioner firm to evade tax, penalty or interest chargeable or imposable on it and thus committed an offence punishable under section 276c of the i.t .....Tag this Judgment!
Court : Rajasthan
Decided on : May-06-1985
Reported in : (1985)48CTR(Raj)318; 154ITR639(Raj)
..... been spent by way of entertainment and was allowable expenditure, being incurred by the assessee in the interest of business. the commissioner of income-tax filed an application for making a reference under section 256(1) of the i.t. act, 1961, as in his view the expenditure allowed by the tribunal was of the nature of entertainment expenditure, which was not allowable ..... could not be allowed as revenue expenditure. on further appeal, the income-tax appellate tribunal, jaipur bench, jaipur, by its order dated march 11, 1981, agreed with the view taken by the ito that the. aforesaid expenditure was incurred in providing tea, coffee ..... in providing tea, coffee, cold drinks and parties, etc., to the customers and guests was of the nature of entertainment expenditure and was not deductible. on appeal, the aac of income-tax agreed with the view taken by the ito and held that the expenditure in question was incurred on the entertainment of customers and other persons and as such the same ..... fall within the term 'entertainment expenditure', occurring in section 37(2a), and which is not excludible under the provisions of section 37(1) of the act.5. section 37(1) allows an assessee, while computing his income chargeable under the head 'profits and gains of business', a deduction of expenditure laid out and expended wholly and exclusively for the purpose of the .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-08-1985
Reported in : 155ITR495(Cal)
..... payment made by the assessee and disallowed the balance which was determined to be rs. 41,274.6. the assessee preferred a further appeal before the income-tax appellate tribunal. the contention of the assessee before the tribunal was, inter alia, that the liability for payment of the entire additional salary of rs ..... parties could arrive at a fresh settlement which could put an end to the disputes.17. the preamble to the industrial disputes act lays down that the said act is 'an act to make provision for the investigation and settlement of the industrial disputes......'18. it has not been found nor was it the ..... iillj647sc . in this case, the question before the supreme court was whether publication of an award by an industrial tribunal under section 17 of the industrial disputes act, 1947, was directory or mandatory. in dealing with the said question, the supreme court observed, inter alia, that reference to an industrial tribunal was for ..... .11. at the instance of the revenue, the tribunal has referred the following questions for our opinion under section 256(1) of the i.t. act, 1961, as questions of law arising out of the order of the tribunal :'(1) whether, on the facts and in the circumstances of the case ..... on december 12, 1970.8. it was contended on behalf of the revenue before the tribunal that under section 17(a) of the industrial disputes act, an award became final after the expiry of 30 days from the date of the notification in the gazette. therefore, the award became final on .....Tag this Judgment!