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Judgment Search Results Home > Cases Phrase: income tax act Year: 1985 Page 11 of about 2,217 results (0.165 seconds)

Nov 07 1985 (HC)

Kripal Singh Vs. Commissioner of Income-tax and ors.

Court : Allahabad

Decided on : Nov-07-1985

Reported in : (1986)51CTR(All)47; [1987]164ITR144(All); [1986]24TAXMAN47(All)

..... the commissioner of income-tax, central circle iii, kanpur, under section 264 of the income-tax act, 1961 (hereinafter referred to as 'the act'), as well as the consequential assessment order dated august 28, 1985, passed by the income-tax officer is sought to be quashed. the order which was challenged before the commissioner of income-tax had been passed by the income-tax officer in proceedings ..... under section 144b of the act. it was urged by ..... not on the basis of any direction obtained from the inspecting assistant commissioner. in the instant case, since the income-tax officer had passed the order after receiving the directions of the inspecting assistant commissioner of income-tax under section 144b of the act, on january 10, 1985, the order was apparently illegal, having been passed after october 1, 1984. ..... counsel for the petitioner that as a result of section 144b of the act having been amended, the income-tax officer after october 1, 1984, had to pass an order .....

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Feb 26 1985 (HC)

Commissioner of Income-tax Vs. K.N. Oil Industries

Court : Madhya Pradesh

Decided on : Feb-26-1985

Reported in : [1987]163ITR112(MP)

..... the negative, whether the appellate tribunal was justified in law in confirming the order of the commissioner of income-tax (appeals) quashing the order of the income-tax officer under section 154 of the income-tax act, 1961, rectifying the quantum of relief allowable under section 80j of the income-tax act, 1961, for the assessment year in question ?' 2. for the assessment year 1972-73, accounting period ending diwali ..... the facts and in the circumstances of the case, the appellate tribunal was correct in law in holding that the provisions contained in section 80j of the income-tax act, 1961, read with rule 19a of the income-tax rules, 1962, prohibiting inclusion of borrowed capital employed by the assessee while computing the capital employed in the business for the purposes of 80j relief are ..... ] 134 itr 651 took the view that sub-rule (3) of rule 19a of the income-tax rules, 1962, which requires the deduction of borrowed moneys in determining the capital employed by the assessee for the purpose of calculating the tax relief under section 80j of the income-tax act, 1961, is consistent with the intention of parliament and does not go beyond the rule-making .....

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Nov 04 1985 (HC)

Commissioner of Income-tax Vs. Shree Synthetics Limited

Court : Madhya Pradesh

Decided on : Nov-04-1985

Reported in : [1986]162ITR819(MP)

..... of expenses were clearly covered by sub-clause (iv) of clause (c) of sub-section (2) of section 35d of the income-tax act, 1961, and hence the income-tax officer was not justified in disallowing the same. it was contended that the said sub-clause (iv) covered the expenses which are incurred ..... of underwriting commission, brokerage and charges for drafting, typing, printing and advertisement of prospectus are allowable as per the provisions of section 35d of the income-tax act. therefore, he upheld the disallowance of expenses to the extent of rs. 6,03,410.8. on further appeal being taken before the tribunal ..... no. (3) is concerned, learned counsel for the parties submitted that in view of the decision of the supreme court relating to section 80j of the income-tax act, 1961, in lohia machines ltd. v. union of india : [1985]152itr308(sc) this question had to be decided in favour of the department and ..... facts and in the circumstances of the case, the tribunal was right in law in holding that for the purpose of relief under section 80j of the income-tax act, 1961, borrowed capital should also be taken into account in order to arrive at the capital employed in the industrial undertaking ' 2. so far ..... to its trade clients was an allowable business expenditure and that such expenses are not hit by the provisions of section 37(2b) of the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, the tribunal was right in law in deleting the disallowance of .....

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Aug 02 1985 (HC)

Commissioner of Income-tax Vs. Shri Ram Prakash Saraf

Court : Madhya Pradesh

Decided on : Aug-02-1985

Reported in : (1986)51CTR(MP)236; [1986]160ITR860(MP)

..... that the inspecting assistant commissioner had no jurisdiction in the present case to make an order imposing penalty under section 271(1)(c) read with section 274(2) of the income-tax act, 1961.'7. in view of this answer to question no. 2 referred to us, which alone really arises for decision, there is no need to give any answer to theabove ..... were seized from his possession. in the assessment order passed by the income-tax officer on march 31, 1976, he held that the assessee concealed an income of rs. 80,697. accordingly, the income-tax officer, by the same order, initiated penalty proceedings against the assessee under section 271(1)(c) of the income-tax act. the income-tax officer, after giving an opportunity to the assessee to show cause ..... holding that the list (sic) to levy penalty under section 271(1)(c) read with section 274(2) of the income-tax act, 1961, arose on the date (i. e., march 31, 1976), of the income-tax officer's order recording satisfaction about the concealment of income before the change of law on april 1, 1976 ? 2. whether, on the facts and in the circumstances of ..... the case, the tribunal was right in law in holding that the inspecting assistant commissioner acted without jurisdiction in passing the penalty order under section 271(1)(c) read with section 274(2) of the income-tax act, 1961, and that the said order is bad in law ' 2. this reference relates to the assessment year 1975-76 .....

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Nov 22 1985 (HC)

Commissioner of Income-tax Vs. Laxmi Dyeing and Finishing Factory

Court : Punjab and Haryana

Decided on : Nov-22-1985

Reported in : [1987]164ITR789(P& H)

..... the shares specified therein, but that the capital with its assets and liabilities would belong to m exclusively. this again was a case under the indian income-tax act, 1922, and for the same reasons as recorded above, would not have applicability on the facts of the present case.10. in nandiniben narottamdas' ..... after coming to the conclusion that the order of the commissioner, passed under section 263 of the income-tax act, 1961, stood vitiated, was right in law in not sending the case back to the commissioner for passing an order afresh after giving due ..... and in the circumstances of the case, the appellate tribunal was right in holding that the order of the commissioner under section 263 of the income-tax act was vitiated for non-issue of notices to the wife and minor sons of the karta of the family ? 2. whether the appellate tribunal, ..... amongst the four members of the hindu undivided family. on an application made by the assessee under section 171 of the income-tax act, 1961 (for short 'the act'), the income-tax officer, after necessary inquiry, recorded that a partial partition had taken place in the family on april 1, 1971. however, ..... of the members of the erstwhile hindu undivided family was not sufficient compliance with the requirement of section 25a of the indian income-tax act, 1922 (now section 171(2) of the act). obviously, these cases have no bearing on the facts of the present case. here, only a partial partition is .....

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Oct 31 1985 (HC)

Lal Chand Des Raj Singh Hukam Chand Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Oct-31-1985

Reported in : [1987]163ITR360(P& H)

..... raise the following questions of law :'(1) whether, on the facts and in the circumstances of the case, the tribunal while deciding an appeal under section 254(1) of the income-tax act, 1961, had jurisdiction to permit the revenue to make out a new case to the effect that des raj singh was not a genuine partner of the firm ? (2) whether ..... d.v. sehgal, j.1. an application under section 256(1) of the income-tax act, 1961 (hereinafter called 'the act'), of m/s. lal chand des raj singh hukam chand (hereinafter called 'the firm') made to the income-tax appellate tribunal, chandigarh bench (hereinafter called 'the tribunal'), to draw up a statement of the case and refer to this court questions which, according to the firm ..... the tribunal erred in law or failed to act in proper exercise of its jurisdiction under rule 29 of the income-tax appellate tribunal rules, 1963, in permitting the revenue to tender fresh evidence in question with a view to allowing it to raise a new plea ..... does not in any way circumscribe or control the power of the tribunal under section 254(1) of the act. the tribunal had sufficient powers under section 254(1) of the act to admit these documents in evidence and remit the matter to the income-tax officer for further action in accordance with law.6. taking into account the facts noted above as also .....

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Dec 11 1985 (SC)

Maya Rani Punj Vs. Commissioner of Income-tax, Delhi

Court : Supreme Court of India

Decided on : Dec-11-1985

Reported in : AIR1986SC293; (1986)50CTR(SC)191; [1986]157ITR330(SC); 1985(2)SCALE1267; (1986)1SCC445a; [1985]Supp3SCR827; [1987]65STC416(SC); 1986(1)LC192(SC)

..... may 3, 1962 beyond more than seven months of the due date. with effect from april 1, 1962, the income tax act of 1961 ('1961 act' for short) had come into force. the income tax officer took, proceedings under section 271(1)(a) of the 1961 act and imposed a penalty of rs. 4,060 for failure to furnish the return within the time on a finding ..... the appeal. on further appeal the appellate tribunal held that penalty was leviable under the 1961 act but the amount of penalty had to be quantified according to the provisions of section 28 of the income tax act, 1922('1922 act' for short). applying the provisions of the 1922 act, the tribunal reduced the penalty to rs. 400. at the instance of the revenue the following ..... ratio of jain brothers' case would have been fully applicable. though jain brothers' case was with reference to the income tax act, 1961, the provisions of section 18(1)(a) of the wealth tax act, as amended, brought in a similar provision and a sum equal to 2% of the tax for every month during which the default continued with an optimum of 50% of the ..... any, payable by him, a sum equal to 2% of the assessed tax for every month during which the default continued.section 297(1) repealed the 1922 act. sub-section (2), as far as relevant, provided:notwithstanding the repeal of the indian income tax act, 1922(hereinafter referred to as the repealed act), -(a) to (e) x x x (f) any proceeding for the imposition of .....

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Aug 09 1985 (SC)

Commissioner of Income-tax, Central, Bombay Vs. Jalan Trading Co. P. L ...

Court : Supreme Court of India

Decided on : Aug-09-1985

Reported in : AIR1985SC1656; (1985)87BOMLR461; (1985)3CompLJ198(SC); [1985]15ITR536(SC); 1985(2)SCALE225; (1985)4SCC59; [1985]Supp2SCR517; 1985(17)LC1016(SC)

..... 1. this appeal by special leave at the instance of the revenue assails the decision of the bombay high court upon a reference under section 66 of the income tax act, 1922 (hereinafter referred to as 'the act'). in respect of the assessment year 1954-55, the respondent-assessee claimed deduction of a sum of rs. 7,93,837 under section 10(1) or alternatively ..... or revenue expenditure in which latter event only it would be a deductible allowance under section 10(2)(xv) of the income-tax act. the question has all along been considered to be a question of fact to be determined by the income-tax authorities on an application of the broad principles laid down above and the courts of law would not ordinarily interfere with ..... under section 10(2)(xv) of the act in determining its business profits which the income tax officer and the two appellate authorities in due course rejected. on the application of the assessee the dispute regarding admissibility of the claim was referred to the ..... for obtaining a capital asset, the assessee would not be entitled to claim it as a deduction under section 10(1) of the act and on the principle of taxation that income tax is to be levied on the real income, the amount paid for obtaining capital asset would not be deductible. in such circumstances, we are inclined to agree with the appellant's .....

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Dec 19 1985 (SC)

Commissioner of Income-tax Vs. Bansi Dhar and Sons

Court : Supreme Court of India

Decided on : Dec-19-1985

Reported in : AIR1986SC421; AIR1986SC421a; 1986(24)ELT193(SC); [1986]157ITR665(SC); 1985(2)SCALE1416; (1986)1SCC523; [1985]Supp3SCR850; 1986(1)LC179(SC)

..... the high court, must be kept separate from the concept of inherent powers or incidental powers in exercising jurisdiction under section 66 of 1922 act or 256 of 1961 act. section 66 of income-tax act of 1922 or section 256 of income-tax act of 1961 is a special jurisdiction of a limited nature conferred not by the cpc or by the charters or by the special ..... question of jurisdiction of the high court, to grant stay or pass interim orders in pending references under section 66 of the indian income-tax act, 1922 (hereinafter called the act of 1922) and section 256 of the income tax act, 1961 (hereinafter called the act of 1961). these appeals are by special leave from the judgments of the high courts. the main judgment is the judgment of ..... , that since the matter relating to the two assessment years (1960-61 and 1962-63) was before the high court in references under section 66(1) of the indian income-tax act, 1922/section 256(1) of the income-tax act, 1961, similar order of stay should be granted by the high court and prejudice would be caused to the assessee if in spite of full ..... was liable to be assessed as such. then at the instance of assessee-huf, the tribunal referred to the high court the following question under section 256(1) of the income-tax act, 1961, as arising out of the said common order namely :whether, on the facts and in the circumstances of the case, the amount of rs. 2,49,874/- received by .....

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Sep 06 1985 (SC)

Haji Abdul Hameed (Dead) by His Lrs. Vs. Commissioner of Income Tax, U ...

Court : Supreme Court of India

Decided on : Sep-06-1985

Reported in : AIR1986SC1271; (1985)49CTR(SC)394; [1985]156ITR230(SC); 1986Supp(1)SCC479

..... the sense of levying of the tax on the computed income proceeded under section 41(2) and not under section 41(1) of the income-tax act, 1922 and the earned income relief was claimed either under clause (b) or clause (c) of section 2(6aa). so far ..... as the receipt of income in the hands of haji abdul shakoor is concerned since ..... the business was not carried on by him nor was the income derived by him from his personal exertions clearly ..... in these two assessment years after the income was earned by the wakf the same was distributed between the two brothers as beneficiaries under the deed and it was in respect of such receipt in the hands of two assessees that earned income relief was claimed under section 2(6aa)(b) or (c) of the indian income-tax act, 1922.3. admittedly, the assessment in .....

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