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Judgment Search Results Home > Cases Phrase: income tax act Year: 1985 Page 13 of about 2,217 results (0.091 seconds)

Aug 29 1985 (SC)

Commissioner of Income-tax, Patiala Vs. Jagannath Pyarelal

Court : Supreme Court of India

Decided on : Aug-29-1985

Reported in : AIR1986SC123; (1985)49CTR(SC)191; [1985]156ITR220(SC); (1985)4SCC181; [1985]Supp2SCR735; 1986(1)LC474(SC)

..... nor was the application for registration in accordance with the rules. therefore, the firm was not entitled to registration under section 26a of the indian income tax, act, 1922. the law enjoins that the deed of partnership must be singed personally by each partner and this position is settled by the decision of ..... and haryana high court in respect of the assessment year 1960-61, under indian income tax act, 1922 holding that the registration of the firm was wrongly refused. a reference was made under section 66(2) of the indian income-tax act, 1922 to the high court in respect of the following question:-whether on the ..... by this court in the case of r.c. mitter & sons v. commissioner of income-tax, calcutta : [1959]36itr194(sc) . this court held thatin order that a firm may be entitled to registration under section 26a of the income-tax act, the following essential conditions must be satisfied viz. (i) the firm should be constituted ..... this court in rao bahadur ravulu subha rao and ors. v. commissioner of income tax, madras : [1956]30itr163(sc) . furthermore, rules 2 and 4 of the income tax rules, 1922 enjoined that the application for registration must be made within a period of six months of the ..... that effect on 1.4.1959 and an application dated 2.9.1959 for registration of the said firm under section 26a of the said act was filed on 30.9.1959. shri rabinder kumar had left indian for united states of america for prosecuting his studies on 29.1.1959 .....

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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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Sep 11 1985 (SC)

Indian Motors Transport Pvt. Ltd. Vs. Commissioner of Income-tax, Hary ...

Court : Supreme Court of India

Decided on : Sep-11-1985

Reported in : [1985]156ITR489(SC); 1986Supp(1)SCC484

..... the high court took the view that the tribunal was not justified in law in directing the income-tax officer first to allow the development rebate under the rules and subsequently withdraw it under section 35(11) of the indian income tax act, 1922 (hereafter referred to as ' the act ').2. the short facts giving rise to this appeal are that for the assessment year 1958 ..... justified in law in directing the income-tax officer first to allow full development rebate under the rules and subsequently withdraw it under section 35(11) of the act, was referred to the high court at the instance of the revenue. the high court answered the question in the ..... the assessee to the tribunal and the tribunal took a contrary view holding that it, was incumbent upon the income-tax officer first to allow the full development rebate under the rules and then subsequently withdraw it under section 35(11) of the act. a specific question as to whether, on the facts and bin the circumstances of the case, the tribunal was ..... years from the date of their purchase had come to the knowledge of the income tax officer. in such circumstances, we do not think that it was necessary ' for the income-tax officer to have first allowed the development rebate and then cancelled it under section 35(11) of the act. among the condition which entitle an assessee to claim development rebate is also the .....

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Sep 30 1985 (SC)

Saroj Aggarwal Vs. Commissioner of Income-tax, U.P.

Court : Supreme Court of India

Decided on : Sep-30-1985

Reported in : AIR1986SC376; (1985)49CTR(SC)183; [1985]156ITR497(SC); 1985(2)SCALE803; [1985]Supp3SCR209; 1986(1)LC572(SC)

..... 1947 the partnership was converted into a limited company and the assessee claimed relief under section 25(4) of the indian income tax act, 1922. the income tax officer disallowed the claim on the ground that the partners of the firm in 1939 being different from the partners of the firm in 1947 ..... no devolution of the business as a whole. the assessee a partnership firm carrying on a business consisted of three partners when it paid tax under the indian income tax act, 1918. there were several changes in the constitution of the firm since then resulting in changes in the shares of the partners - in ..... business devolved on b by survivorship. held that b did not 'succeed' to the business within the meaning of section 26(2) of the income tax act and b was not liable to be assessed as successor under section 26(2), what happened was that a co-owner became full owner by survivorship ..... , carried on in such capacity. consequently, it was held that there was no 'succession' within the meaning of section 26(2) of the indian income tax act, 1922 where the business of a joint hindu family devolved on a co-parcener by survivorship under hindu law. in that case a and his son ..... has however, stated that this statement by the appellate assistant commissioner was not strictly correct and as per the orders of the income tax officer passed under section 35 of the income tax act, 1922 for the assessment years 1958-59, 1959-60 and 1960-61, the speculation losses were from the firms of m/s .....

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Nov 01 1985 (SC)

Scientific Engineering House (P) Ltd. Vs. Commissioner of Income Tax, ...

Court : Supreme Court of India

Decided on : Nov-01-1985

Reported in : AIR1986SC338; (1985)49CTR(SC)386; [1986]157ITR86(SC); 1985(2)SCALE908; (1986)1SCC11; [1985]Supp3SCR701; 1986(1)LC557(SC)

..... formed the basis for the business of manufacturing the instruments in question would fall within the wide and inclusive definition of 'plant' given in section 43(3) of the income tax act, 1961.9. turning to the first question, having regard to the relevant terms of the two agreements we find it very difficult to accept the view concurrently expressed by ..... been regarded as constituting a book falling within the inclusive definition of 'plant' given in section 43(3) of the income tax act, 1961. in this behalf counsel relied on commissioner of income-tax, andhra pradesh v. taj mahal hotel : [1971]82itr44(sc) and commissioner of income-tax, gujarat v. elecon engineering company ltd. : [1974]96itr672(guj) . on the other hand, counsel for the revenue ..... , designs charts, plans, processing data and other literature falls within the definition of 'plant' and therefore a depreciable asset.15. counsel invited our attention to the decision in commissioner of income tax, gujarat v. elecon engineering co. ltd. : [1974]96itr672(guj) , where the gujarat high court has, after exhaustively reviewing the case law on the topic, held that drawings and ..... which were voluminous occupying almirah-full of storage space and these collectively constituted the pages of a book and the assessee had claimed depreciation at the appropriate rate. the income-tax officer held that the sum of rs. 1,60,000 did not represent the value of books purchased by the assessee but represented the price paid fix acquiring the .....

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Oct 08 1985 (SC)

Shree Sajjan Mills Ltd. Vs. Commissioner of Income Tax, M.P., Bhopal a ...

Court : Supreme Court of India

Decided on : Oct-08-1985

Reported in : AIR1986SC484; 1986LC276(SC); [1985]156ITR585(SC); 1985(2)SCALE737; (1985)4SCC590; [1985]Supp3SCR593

..... 34(3)(a) spoke of the creation of a development rebate reserve by debiting the profit and loss account and crediting the reserve account. thus, the income-tax act itself contemplated, according to the assessee, a reserve as an appropriation or earmarking of profits by making entries for this purpose in the books of account.( ..... the books of account and that the balance liability claimed i.e. rs. 15,71,855 towards gratuity is admissible under section 37 of the income tax act, 1961.and for the reasons mentioned, for the assessment year 1973-74 which is the subject matter of the next appeal and following the said decision ..... the judgment and order of the high court of madhya pradesh dated 29th november, 1982, in reference under section 256(1) of the income-tax act, 196l (hereinafter referred to as the 'act'). the assessee is a public limited company. the related assessment year in appeal no. 4221 of 1984 is 1974-75- in appeal no ..... were several methods which the assessee might choose to adopt in meeting his liability to pay gratuity, the treatment which he would receive under the income-tax act would depend upon the method adopted by him. the assessee is only under an obligation to pay gratuity when it became due and payable. ..... circumstances of the case, the tribunal was justified in allowing the deduction of rs. 28,59,431 under section 37 of the income tax act, 1961 out of the total rs, 48,59,431 made by the assessee towards liability for gratuity?9. section 40a was inserted by the finance .....

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Sep 30 1985 (SC)

Smt. Saroj Aggarwal Vs. Commissioner of Income Tax, U.P.

Court : Supreme Court of India

Decided on : Sep-30-1985

Reported in : (1985)4SCC539

..... in 1947 the partnership was converted into a limited company and the assessee claimed relief under section 25(4) of the indian income tax act, 1922. the income tax officer disallowed the claim on the ground that the partners of the firm in 1939 being different from the partners of the firm in ..... no devolution of the business as a whole. the assessee a partnership firm carrying on a business consisted of three partners when it paid tax under the indian income tax act, 1918. there were several changes in the constitution of the firm since then resulting in changes in the shares of the partners. ..... carried on in such capacity. consequently, it was held that there was no succession within the meaning of section 26(2) of the indian income tax act, 1922 where the business of a joint hindu family devolved on a coparcener by survivorship under hindu law. in that case a and his son b ..... court in the case of jupudi kesava rao v. cit4 held that the word succession as used in section 26(2) of the indian income tax act, 1922 meant a transfer of ownership and the person who succeeded another must have by such succession become the owner of the business which his predecessor ..... has, however, stated that this statement by the appellate assistant commissioner was not strictly correct and as per the orders of the income tax officer passed under section 35 of the income tax act, 1922 for assessment years 1958-59, 1959-60 and 1960-61, the speculation losses were from the firms of hari shankar .....

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Apr 29 1985 (HC)

Anglo Dutch Paint, Colour and Varnish Works P. Ltd. Vs. Commissioner o ...

Court : Delhi

Decided on : Apr-29-1985

Reported in : (1985)48CTR(Del)210; [1986]157ITR615(Delhi)

..... assessment year 1949-50 as against the actual sales shown in the books which amounted to rs. 5,16,792. a notice was issued under sections 147/148 of the income-tax act, 1961. the assessed was called upon to produce the account books which had been tendered before the police, but these books were withheld. in the result, a best judgment assessment ..... year 1949-50, a loss return was filed showing a loss of rs. 24,018. the assessment was completed under section 23(3) of the indian income-tax act, 1922; most of the loss was allowed and adjustments were made regarding earlier losses which were being carried forward from earlier years and there was also some adjustment regarding depreciation ..... right in holding that the rectification of mistake in the assessments for the years 1950-51 and 1951-52, completed under the indian income-tax act, 1922, could be carried out under the provisions of section 155(4) of the income-tax act, 1961 ?' 2. the assessed is a private limited company carrying on the business of manufacturing and selling paints and colours. in the assessment ..... -51 and 1951-52 was that a carried forward loss which did not exist had been allowed to be adjusted against the income of these two years. the income-tax officer in these circumstances took action under section 155 of the income-tax act, 1961, on the ground that there was a mistake apparent from the record which should be rectified under section 155(4). show .....

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Aug 09 1985 (HC)

Commissioner of Income-tax, Delhi-i Vs. Minocha Brothers P. Ltd.

Court : Delhi

Decided on : Aug-09-1985

Reported in : (1986)52CTR(Del)346; [1986]160ITR134(Delhi)

..... decision of the court must necessarily turn on the particular statutory provision which is under examination. in a case falling under section 15c of the indian income-tax act, 1922, or section 84 or section 80j of the income-tax act, 1961, the principal question to be examined by the court is whether the company in question is an 'industrial undertaking'. for this purpose, it has ..... madras high court that quarrying was a manufacturing process and hence being an industrial undertaking was entitled to exemption under section 15c of the indian income-tax act, 1922. for the purpose of section 23a of the indian income-tax act, 1922, a firm printing balance-sheets, profit and loss accounts, dividend warrants, pamphlets, share certificates, etc., was held to be a manufacturer of goods in ..... . most of the other judgments cited before us relate to the concessions which are a available to industrial undertakings under the provisions which correspond to section 80j of the present income-tax act. one of these judgments has to be referred to by us as it is the main judgment relied upon by the assessed. this is the case of national projects construction ..... 1969 and 1970. if we look at some other definition like the definition of 'industrial undertaking' in section 80j of the income-tax act, 1961, or the equivalent section 15c of the act of 1922, we might get a different result. in the context of the section now being examined, we agree with the view of the bombay high court. 14. we would .....

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May 29 1985 (HC)

D.L.F. United (P.) Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Decided on : May-29-1985

Reported in : (1986)53CTR(Del)356; [1986]159ITR339(Delhi)

..... 30 of 1973 : (1) whether, on the facts and in the circumstances of the case, the levy of penalty under section 271(1)(c) of the income-tax act, 1961, was justified ? (2) if the answer to the aforesaid question is in the affirmative, whether, on the facts and in the circumstances of the case ..... j.1. these two, references (nos. 217 and 218 of 1975) have been made under the orders of this high court under section 256(2) of the income-tax act, 1961. the questions directed to be referred are in two sets :(a) in i.t.c. no. 29 of 1973 : '1. whether there was any ..... three parties, viz., shri sham singh, shri surjit singh and shri rajinder singh, in the above series of transactions.18. the case of the income-tax authorities throughout had been that the assessed company was manipulating matters in such a way as to show the purchase price as rs. 7,95,930. ..... profits had been suppressed by siphoning the same to m/s. raisina cold storage and ice co. ltd. the transactions were elaborately discussed by the income-tax officer, the appellate assistant commissioner as well as by the tribunal. but, it is not necessary to go into complete details for the purposes of ..... , balabgarh taluk, gurgaon district, haryana. the second transaction was also in relation to some other land situated in majeshwar village.6. according to the income-tax officer, the appellate assistant commissioner and also the tribunal, the transactions relating to the purchase of this land in majeshwar village had been so organized by .....

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