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Judgment Search Results Home > Cases Phrase: income tax act Year: 1985 Page 14 of about 2,217 results (0.101 seconds)

Jun 27 1985 (HC)

Sulekha Sandip Parikh and Others Vs. S.N. Nadkarni, 6th Income-tax Off ...

Court : Mumbai

Decided on : Jun-27-1985

Reported in : (1986)52CTR(Bom)82; [1986]159ITR775(Bom); [1986]24TAXMAN474(Bom)

..... pratap, j.1. this petition under article 226 of the constitution arises out of proceedings under the income-tax act, 1961 (hereinafter 'the act').2. one dhanvantrai keshavlal shah and his wife prabhavati, petitioner no. 3, were members of the keshavlal ratanji hindu undivided family (hereinafter 'the k. r. huf') which owned agricultural land ..... /b/22 which had been allotted to him on partition of his own hindu undivided family. this resulted in capital gains. under section 45 of the act, transfer of any capital asset is subject to income-tax if the said transfer results in any capital gains. however, up to the assessment year 1969-70, agricultural land was excluded from the definition of 'capital ..... of the sub-plots sold, as the same were agricultural lands. by its order dated may 10, 1974, the income-tax appellate tribunal upheld this contention. department's application under section 256(1) of the act for reference on the question whether the lands were agricultural lands was rejected by the income-tax appellate tribunal. application to this court under section 256(1) of the ..... act suffered the same fate. a petition was filed for leave to appeal to the supreme court, but the same was .....

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Jun 03 1985 (HC)

Union of India and Another Vs. Arvind N. Mafatlal, Trustee of Seth Hem ...

Court : Mumbai

Decided on : Jun-03-1985

Reported in : 1986(3)BomCR50; (1985)87BOMLR305; (1986)51CTR(Bom)362; [1986]160ITR420(Bom)

..... . h. d. dennis : [1982]135itr1(bom) , it has been, inter alia, held by a division bench of this court that information within the meaning of section 147(b) of the income-tax act may consist of facts or of law. the information must be fresh or subsequent to the original assessment. the opinion expressed by the department or by the central board of ..... of an audit party or an auditor which conveys information as to certain provisions of law can be regarded as information within the meaning of section 147(b) of the income-tax act, but in so far as the audit note contains an opinion on the interpretation of certain provisions of law or their applicability, it cannot constitute 'information' as contemplated within the ..... by the supreme court that the opinion of the audit party on a point of law could not be regarded as 'information' enabling the income-tax officer to initiate assessment proceedings under section 147(b) of the income-tax act. the relevant observations of the supreme court in that connection which find place at pages 1003 and 1004 of the said report run as follows ..... and, in so far as the audit note contained information, it could constitute a valid basis for the reopening of the assessment under section 59(b) of the estate duty act or section 147(b) of the income-tax act. in support of this contention, mr. dhanuka relied on the decision of the supreme court in indian and eastern newspaper society v .....

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Mar 11 1985 (HC)

Karnataka Forest Plantations Corporation Limited Vs. Commissioner of I ...

Court : Karnataka

Decided on : Mar-11-1985

Reported in : (1986)53CTR(Kar)308; [1985]156ITR275(KAR); [1985]156ITR275(Karn)

..... ) : 'this being an investment company, if it borrowed money and utilised the same for its investment on which it earned income, the interest paid by it on the loans will clearly be a permissible deduction under section 12(2) of the income-tax act. whether the loan is taken on an overdraft, or on a fixed deposit or on a debenture makes no difference ..... be admissible as a deduction.' 10. in assailing this, to borrow the very language of the petitioner omitting reference to s. 57 of the act, it has urged thus : 'the petitioner's income liable to central income-tax is the interest from short-term fixed deposits. the second respondent erroneously held that the interest paid to the banks cannot be allowed as a deduction ..... . office and establishment expenses unconnected with the earning of the company or keeping the company alive are not permissible deductions under section 57 of the act : vide the decision of the calcutta high court in commissioner of income-tax v. bihar spinning & weaving mills ltd. : [1953]24itr108(cal) .'23. with great respect to their lordships, i am in complete agreement with these ..... c and c1), respectively, allowing a deduction of 10 per cent. as expenditure has brought the said amounts to tax under the act. without challenging those assessments in appeals, the petitioner moved the commissioner of income-tax, karnataka, bangalore (commissioner), under s. 264 of the act in revision petitions nos. 139 and 140 of 1978, for relief, who on february 24, 1979 (exhibit-e), .....

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Jun 14 1985 (HC)

Ambica Chemical Products Vs. Income-tax Officer

Court : Andhra Pradesh

Decided on : Jun-14-1985

Reported in : [1991]191ITR382(AP)

amareswari, j. 1. heard counsel for the assessee and the income-tax department. 2. these writ petition are filed against the orders of the income-tax officer levying interest under section 139 and 258(sic) of the income-tax act. the grievance of the petitioners is that the interest was levied without giving then any opportunity. under rules 40 and 117a of the income-tax rules, 1962, framed under the income-tax act, the income-tax officer is vested with discretion to waive or reduce interest under certain circumstances. by implication, these rules require that an opportunity must be given to the assessee to show cause why interest should not be levied or to satisfy the income-tax officer that there is a case for waiver or reduction. in these cases, no opportunity was given. we, therefore, quash the orders to the extent of interest only. we give fifteen days' time from today to the petitioners to file representations before the concerned officers. no further notice need be issued by the income-tax officer. the income-tax officer shall consider the representations after giving a personal hearing to the petitioner and pass fresh orders in accordance with law. in all other respect, the impugned orders stand. with this direction, the writ petitions are disposed of. no costs.

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Feb 26 1985 (HC)

Commissioner of Income-tax Vs. Raj Brothers

Court : Andhra Pradesh

Decided on : Feb-26-1985

Reported in : [1987]165ITR720(AP)

anjaneyulu, j. 1. this reference made at the instance of the commissioner of income-tax under section 256(1) of the income-tax act, 1961 (for short 'the act'), was disposed of by us, by our judgment dated october 22, 1984. learned standing counsel for the income-tax department brought to our notice through a letter dated january 30, 1985, that the reference was answered on the basis that ..... by death of any of the partners is governed by section 42(c) of the partnership act. the contention that by introducing the proviso after sub-section (2) to section 187 of the act by the amendment act of 1984, the income-tax act sought to recognise only a dissolution brought bout by death of any of the partners within the meaning of section 42(c ..... ) of the partnership act and derecognise all other forms of dissolution envisaged by sections 40 to 44 of the ..... ceases to be in existence for all statutory purposes unless expressly saved by any provision in the income-tax act. we have already held that the proviso inserted by section 33 of the amendment act of 1984 does not have such an effect. we, therefore, hold that the tribunal is justified in coming to the conclusion that there was a dissolution of partnership on .....

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Apr 22 1985 (HC)

Hyderabad Race Club Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Apr-22-1985

Reported in : [1985]153ITR521(AP)

..... under section 11 of the income-tax act, 1961 ?' r.c. no. 291 of 1982 : 'whether the income of the assessee, a company registered under the companies act, 1956, and licensed under section 25 of the said act by the central government for the assessment year 1976-77 is not exempt under section 11 ..... the income of the assessee, a company registered under the companies act, 1956, and licensed under section 25 of the said act by the central government for the assessment years 1974-75 and 1975-76 is not exempt ..... -72 is not exempt under section 11 of the income-tax act, 1961 2. whether the income of the assessee, a company registered under the companies act, 1956, and licensed under section 25 of the said act by the central government for the assessment years 1972-73 and 1973-74 is not exempt under section 11 of the income-tax act, 1961 ?' r.c. no. 187 of 1982 : 'whether ..... of the income-tax act, 1961 ?' 2. we may notice a few facts relevant for the purpose of these references. initially, the assessee was a society registered under the societies registration act in the year 1951. on april 15, 1971, the society was wound up and its assets and .....

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Feb 28 1985 (HC)

Parvathi Devi and ors. Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Feb-28-1985

Reported in : [1987]164ITR675(AP)

..... and sold the same jointly. as we have already held, the purpose of purchase and sale was for making profit. theirs is not a partnership for the purpose of the income-tax act. if four strangers unite and produce profit by a joint venture otherwise than as partners, it would hardly be possible to say that they would not acquire the status of ..... supreme court, therefore, cannot be understood as laying down that tenants-in-common can never qualify themselves to be members of an association of persons within the meaning of the income-tax act. we, therefore, find it not possible to agree with the contention of mr. rathnakar that the four persons in this case who had purchased the land and traded in it ..... logically be possible to lay down that tenants-in-common can never constitute an association of persons within the meaning of either of the gift-tax act or of the income-tax act with which we are now presently concerned. in cit v. indira balkrishna : [1960]39itr546(sc) the supreme court interpreted the word 'association of persons' as meaning an association in which two or more ..... ]82itr828(sc) . in (sic) our high court ruled that a group of individuals can be a body of individuals though not an association of persons within the meaning of the income-tax act. in so holding, a division bench of this court held that valsala amma's case : [1971]82itr828(sc) should be confined only to gift .....

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Mar 13 1985 (HC)

New Kailash Bangles Stores Vs. the State of Andhra Pradesh

Court : Andhra Pradesh

Decided on : Mar-13-1985

Reported in : [1986]63STC156(AP)

..... january, 1952. on getting information that the assessee did not fully disclose the correct particulars, with the approval of the commissioner, the income-tax officer issued a notice on 27th march, 1956, under the amended section 34(1)(a) of the income-tax act, 1922. it was objected to but yet an order dated 29th march, 1959, was made. it was assailed in a writ ..... petition contending that the notice was barred by limitation. the high court took the view that the amendment act does not empower to reopen the assessment when the right to ..... to assess the members individually .... the appellate assistant commissioner had, under the act, plenary powers in disposing of an appeal, the scope of his powers being conterminous with that of the income-tax officer, he can do what the income-tax officer can do and can also direct the income-tax officer to do what he has failed to do. 20. in j. p. jani's case ..... retrospectively. when we thus broached, it not merely advances the curative effect but also effectuates the object of the amendment act. angulated from this perspective, we have no hesitation to hold that the reassessment is within limitation. 19. in commissioner of income-tax v. ambala flour mills : [1970]78itr256(sc) , similar question arose and shah, j., speaking for the court held that where .....

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Nov 22 1985 (HC)

Haryana Iron and Steel Rolling Mills Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Nov-22-1985

Reported in : (1986)51CTR(P& H)219; [1987]164ITR779(P& H)

..... the supreme court in r. s. joshi v. ajit mills ltd. [1977] 40 stc 497. a perusal of the provisions of the income-tax act, 1961, shows that the act first prescribes the duty of filing returns within the prescribed time and then postulates three distinct sanctions for the enforcement of that statutory obligation. these ..... therefore, for the prosecution to prove all the ingredients of the offence (headnote):'the penalty which can be imposed under section 271(1) of the income-tax act, 1961, is to be imposed on contumacious or fraudulent assessees. it is a quasi-criminal proceeding and the section is penal in the sense that its ..... provisions of section 275 had been rightly invoked and thus the penalty proceedings were not time-barred ? 2. whether the tribunal rightly held that the income-tax act as it stands amended on the 1st day of april of any financial year would apply to the assessment of that year but not to the ..... that identical considerations cannot and do not apply to clauses (a), (b) and (c) of section 271(1) of the act. hence, in the light of the broad scheme of the income-tax act, the specific language of section 271(lj(a) and the weight of precedents, it is clear that the doctrine of mens ..... has retrospective effect unless the amending statute provides otherwise. it was further held (at p. 520):' section 275 of the income-tax act, 1961, which provides the time-limit within which proceedings for imposition of penalty had to be completed, was amended by the taxation laws (amendment .....

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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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