Court : Mumbai
Decided on : Oct-09-1985
Reported in : (1986)51CTR(Bom)22; 162ITR224(Bom); 24TAXMAN56(Bom)
..... : 127itr97(all) and these observation (at page 102) :'it, therefore, follows that the expression 'building owned by the assessee' in section 32 of the income-tax act, 1961, has not been used in the sense of the property, complete title in which vests in the assessee. the assessee will be considered to be an owner of ..... these facts into account, the tribunal could not but conclude that the assessee was the owner of 'the property' for the purpose of section 32 of the income-tax act, 1961, and was, therefore, entitled to depreciation thereon. the said deed read with the subsequent letters, it said, could well be treated as a sale with ..... and that the assessee had thereunder become the equitable or beneficial owner of the said shed. the tribunal referred to the provisions of section 32 of the income-tax act, 1961, and noted that the question for consideration was whether the assessee could be said to own the said shed within the meaning of that provision. ..... unknown; there was but one owner, namely, the legal owner; that the expression 'income from property' used in the income-tax act, 1961, referred to the income of the legal owner of the property; and that he was the only person assessable to tax on that basis. this court reiterated that this position remained unchanged by the decision ..... bharucha, j.1. this reference under section 256(1) of the income-tax act, 1961, raises a question at the instance of the revenue. it reads thus :'whether, on the facts and in the circumstances of the .....Tag this Judgment!
Court : Mumbai
Decided on : Sep-24-1985
Reported in : (1986)55CTR(Bom)152; 163ITR216(Bom)
..... gross or wilful neglect on his part and shall, unless it is satisfied that there has been such proof, proceed upon the basis that section 271(1)(c) of the income-tax act, 1961, is attracted.9. the question is answered in the negative and in favour of the revenue.10. the tribunal shall now proceed in the manner stated above.11. the ..... us reads thus :'whether, on the facts and in the circumstances of the case, the tribunal is justified in holding that the provision of section 271(1)(c) of the income-tax act, 1961, read with the explanation was not attracted and thereby cancelling penalty levied of rs. 33,688 ?'5. it will be noted that the tribunal held that the provisions of ..... section 271(1)(c) of the income-tax act, 1961, were not attracted to the facts of the case, but it so held without taking into account the explanation thereto which reads thus : -'explanation. - where the total ..... inspecting assistant commissioner served upon the assessee a notice to show cause under section 274(2) of the income-tax act, 1961. the assessee wrote in his explanation that the cash which was introduced into his books of account carne from his savings made from income earned by him since 1946 from his business. the inspecting assistant commissioner did not accept the assessee's .....Tag this Judgment!
Court : Mumbai
Decided on : Sep-25-1985
Reported in : (1986)50CTR(Bom)81; 161ITR704(Bom); 25TAXMAN32(Bom)
..... 16. as we have stated earlier, it is an admitted position that the remand order was passed by the appellate assistant commissioner under section 250 of the income-tax act, 1961. section 253 provides that an assessee, aggrieved by an order passed by the appellate assistant commissioner under, inter alia, section 250, may appeal to the tribunal there ..... no appeal lay to the tribunal. in any case, he urged, the assessee could have filed the appeal, even as regards her submissions on section 147(a) of the income-tax act, 1961, after the appellate assistant commissioner had considered the remand report and passed a final order.15. no authorities were cited by mr. jetly in support of his submissions. ..... matter in controversy in the appeal. it noted that one of the substantial grounds of appeal before the appellate assistant commissioner was that the conditions of section 147 of the income-tax act, 1961, were not satisfied and that the reassessment was, therefore, liable to be cancelled. it concluded that the order of the appellate assistant commissioner dismissing this substantial ground ..... was competent.17. further, the appellate assistant commissioner by his order concluded the assessee's contention that the income-tax officer's action under section 147(a) of the income-tax act, 1961, was not justified by holding that 'the action of the income-tax officer in initiating proceedings against the assessee under section 147(a) is held to be justified and this preliminary .....Tag this Judgment!
Court : Mumbai
Decided on : Oct-21-1985
Reported in : (1986)52CTR(Bom)293; 162ITR556(Bom); 26TAXMAN664(Bom)
..... by the depreciation already allowed ?(2) whether, on the facts and in the circumstances of the case, the assessee was entitled to relief under section 91 of the income-tax act, 1961, in respect of dividends from united kingdom ?(3) whether, on the facts and in the circumstances of the case, the sum of rs. 8,65, ..... bharucha, j.1. in this reference under section 256(1) of the income-tax act, 1961, three questions are raised. they read thus :'(1) whether, on the facts and in the circumstances of the case, the assessee was ..... in the year ended june 30, 1964, the appellate assistant commissioner allowed it as a deduction.8. an appeal was filed by the revenue to the income-tax appellate tribunal contesting the deduction of the sum of rs. 8,65,208. the tribunal found that there had been a demand for excise duty. the demand ..... incurred the liability of a certain amount on account of sales tax determined to be payable by the sales tax authorities on sales made by it during a particular previous year. a demand for sales tax was raised pending the income-tax assessment for that year. the income-tax officer rejected the assessee-company's claim for deduction of that ..... assessment year 1969-70.7. in the assessment for the assessment year here concerned, the income-tax officer included the sums collected for the years ended june 30, 1963, and june 30, 1964, in the assessable income of the assessee and levied income-tax thereon. on appeal, the appellate assistant commissioner held that the sum of rs. 12 .....Tag this Judgment!
Court : Mumbai
Decided on : Nov-01-1985
Reported in : (1986)88BOMLR84; (1987)59CTR(Bom)92; 162ITR471(Bom); 30TAXMAN426(Bom)
..... to claim gratuity'.5. the assessee had claimed before the income-tax officer that the income derived by them was exempt under section 10(25) of the income-tax act, 1961. the income-tax officer rejected the claim and the appellate assistant commissioner, in appeal, agreed with the income-tax officer. the assessees came up in second appeal to the income-tax appellate tribunal, but did not there press the claim to ..... c.j. and kania j., delivered separate but concurring judgments. they were concerned principally with interpreting the first proviso to section 41(1) of the income-tax act, 1922, which read thus : 'provided that where any such income, profits are gains or any part thereof are not specifically receivable on behalf of any one person, or where the individual shares of the persons on ..... and not of the mills and that, since the beneficiaries and their shares were know and determined, the income should be brought to tax in the hands of the assessees not under section 164 but under section 161 of the income-tax act, 1961, by charging tax in like manner and to the same extent as would be levied and recoverable from the mills' employees. the ..... at the end of each accounting year ? (3) whether, on the facts and in the circumstances of the case, the income is rightly assessable under the provisions of section 161 of the income-tax act, 1961, and not under section 164 of the said act ?'2. the assessment years involved are 1963-64 and 1965-66 to 1971-72. the accounting years for each of .....Tag this Judgment!
Court : Mumbai
Decided on : Nov-04-1985
Reported in : (1986)50CTR(Bom)140; 162ITR827(Bom); 24TAXMAN155(Bom)
..... view that the said expenditure was in the nature of capital expenditure and was, therefore, not deductible under section 10(2)(xv) of the indian income-tax act, 1922. reversing the decision of the high court, the supreme court took the view that the allotment of loom hours under the working time agreement ..... 50% of the profits earned in the computation period should be included in the computation of its capital employed for the purpose of section 84 of the income-tax act, 1961, has been rightly rejected ?(2) assessment year 1967-68. - whether the claim of the assessee to deduct the sum of rs. 12 ..... kania, actg. c.j.1. these are three references arising on a consolidated statement of the case submitted by the income-tax appellate tribunal under section 256(1) of the income-tax act, 1961.2. the questions which have been referred to us for our determination areas follows :'(1) assessment years 1965-66 to ..... the business of embroidering cotton cloth and art silk cloth, including saris, blouse pieces, etc. these facts can be gathered from the order of the income-tax officer. during the relevant previous year, the assessee attempted to install a bore well at its new factory site at borivli. the attempt of the ..... far as question no. (1) is concerned, it is agreed between counsel that in view of the decision of a division bench of this court in income-tax reference no. 73 of 1971 decided on april 24, 1980, the said question will have to be answered in the affirmative and against the assessee. .....Tag this Judgment!
Court : Mumbai
Decided on : Oct-11-1985
Reported in : (1986)51CTR(Bom)286; 162ITR320(Bom)
..... karta of the assessee-family was not competent to make the gifts in question. the income-tax officer included the income earned on the said sum of rs. 4,00,000 in the income of the assessee. on a reference to the high court, both under the income-tax act and the wealth-tax act, it was held by the high court that the interest accrued on the gifted ..... had passed into the hands of the other persons and they were earning income from the same and not the assessee. the income-tax act taxes the person whose income it is and not the person who may, per chance, have title to the property through which the ..... of mr. joshi. we may point out that under section 4 of the income-tax act, the charge of income-tax is in respect of the total income of every person. section 5 defines the scope of the term 'total income', and, inter alia, states that, in case of a resident, it includes all income which is received or deemed to be received in india by or behalf ..... amounts did not accrue to the assessee-family for the purpose of income-tax on either view, namely, whether the gifts of rs. 4,00,000 were void or voidable. the entire sum .....Tag this Judgment!
Court : Mumbai
Decided on : Oct-16-1985
Reported in : (1986)52CTR(Bom)149; 162ITR420(Bom); 29TAXMAN219(Bom)
..... in the partnership and its assets to the continuing partners. in the circumstances, this court held that there was a transfer within the meaning of section 2(47) of the income-tax act, 1961. in patel brothers' case : 145itr614(bom) , there was no document whereunder the partner retired. the court observed that if at all there was to be an acquisition of ..... retired, the interest of each of the assessees in the partnership was extinguished and there was, accordingly, a transfer of interest within the meaning of section 2(47) of the income-tax act, 1961. relying upon the observations of the supreme court in the context of dissolution of the partnership, which the gujarat high court found to be equally applicable when a partner ..... than the assessee would continue the firm and that the assessee would retire. clause 7 is also important inasmuch as it provides that the registration of the firm under the income-tax act would be renewed. had there been a dissolution and the constitution of another firm, the existing registration would not be renewed; fresh registration would have been applied for. clauses 8 ..... plaintiffs in proportion to their respective shares in the partnership.7. the parties agree that the registration of the firm of messrs. little & co. under section 26a of the indian income-tax act, 1922, should be renewed. the parties have executed the necessary form of application for such renewal and the same has been given to the plaintiffs for the purpose of securing .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Jan-29-1985
Reported in : (1985)49CTR(AP)90; 158ITR662(AP)
..... ap) and bhudhar singh & sons : 143itr322(all) , are cases which are concerned not with section 153 of the income-tax act, but with section 275 of the act. now, section 275 of the income-tax act imposes total prohibition on levying penalty beyond the prescribed period of time mentioned therein. there is no language in section 275 of ..... and in favour of the revenue. no costs. 19. the learned counsel for the assessee asked for a certificate under section 261 of the income-tax act that we may certify that this is a fit case for appeal to the supreme court. in view of the fact that we have merely ..... case of ganapathi rao : 115itr277(ap) to the effect that what construction would apply to section 275 would also apply to section 147 of the income-tax act. he relied upon the passage occurring at page 283 which reads as follows : 'the language of section 275 is clear and explicit. it is mandatory. ..... assessments which have been made in the year 1973 were barred by limitation and are not saved by the provisions of section 153(3) of the income-tax act. it may be noticed that it is sub-sections (l) and (2) of section 153 which raise a bar of limitation against passing any ..... purpose of the disposal of the assessee's revision or that it is prejudicial to the assessee's interests, is no less than claiming tax immunity from the provisions of the income-tax act. this argument cannot, therefore, be accepted. a division bench of the calcutta high court in cachar plywood ltd. v. ito : [ .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Dec-07-1985
Reported in : 165ITR296(MP)
..... obvious that on the above conclusion, the impugned notice was given by the appellate assistant commissioner within the scope of his authority given by section 251(1)(a) of the income-tax act, 1961. there is thus no ground to quash the same. 8. consequently, the petition is dismissed. in the circumstances of the case, there will be no order as to ..... assistant commissioner enabling him to make an enhancement in the assessee's appeal is well settled by decisions of the supreme court. while construing the corresponding provisions of the indian income-tax act, 1922, relating to the jurisdiction of the appellate assistant commissioner in such an appeal, the principle emerging from the authorities was summarised by their lordships of the supreme court in ..... to be quashed being in excess of jurisdiction of the appellate assistant commissioner. this is the only question for decision in this petition. 3. section 251(1)(a) of the income-tax act, 1961, empowers the appellate assistant commissioner in disposing of an appeal by the assessee against anorder of assessment to confirm, reduce, enhance or annul the assessment or to set aside ..... filed this writ petition for quashing the same. 2. the scope of power of the appellate assistant commissioner in disposing of an appeal under section 251(1)(a) of the income-tax act, 1961, is well-settled by authoritative decisions of the supreme court. learned counsel for the petitioner contends that, on the facts and in the circumstances of the present case, .....Tag this Judgment!