Court : Delhi
Decided on : May-22-1985
Reported in : 157ITR492(Delhi)
..... . the tribunal affirmed this view in appeal by the department. the view of the tribunal was based on an elaborate examination of the scheme of the rules framed under the income-tax act relating to exemptions to be granted under section 80k. it was held that once the deduction had been allowed under section 80k, it could not be amended. it was further ..... of dividends, paid or deemed to be paid by the company in respect of the said preceding previous years, on which tax was not payable under section 85 of the act or under sub-section (4) of section 15c of the indian income-tax act, 1922 (xi of 1922), or, as the case may be, in respect of which a deduction is allowable under section ..... the company of the relevant previous year and of the previous years preceding the relevant previous year, on which no tax was payable by it under section 84 of the act or under sub-section (1) of section 15c of the indian income-tax act, 1922 (xi of 1922), or, as the case may be, in respect of which a deduction is allowable under section ..... . the common point in these references is concerned with the manner in which a deduction has to be made under section 80k of the income-tax act, 1961. the question is differently framed in the case of m/s. c. p. modi & sons and m/s. o. p. modi & sons from that in seth vinay kumar modi' .....Tag this Judgment!
Court : Delhi
Decided on : May-23-1985
Reported in : (1985)49CTR(Del)107; 157ITR639(Delhi)
..... was exempt under section 4(3) of the indian income-tax act, 1922, and the remaining one-eighth belonged to the private beneficiaries.4. when the new income-tax act, 1961, came into application, the income-tax officer took the view that neither the qaumi income nor the reserve fund was entitled to exemption from tax under section 11(1) of the income-tax act, 1961. an appeal was taken to the appellate ..... to be a charitable trust for a number of years under the indian income-tax act, 1922. there is a full bench judgment of this court under the 1922 act pointing out that the income-tax officer had granted exemption under section 4(3) (i) of the indian income-tax act 1922, in respect of the income set apart for being spent for charities. there, it is pointed out that ..... d.k. kapur, j.1. these are six references (nos. 40 to 45 of 1976) before this court made under section 256(1) of the income-tax act, 1961, which have been referred by a common statement of case. the assessment years involved are 1962-63, 1963-64 and 1964-65. the following two questions have been referred ..... the khandani income was assessed in the personal hands of hakim abdul hamid. the following .....Tag this Judgment!
Court : Delhi
Decided on : Jan-29-1985
Reported in : 158ITR64(Delhi)
..... and 1969-70, to the indian national congress and the swatantra party, were allowable deductions under the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal had erred in holding that the two units of the assessed company, viz., m/s. ..... years 1968-69 and 1969-70 (3) whether the income-tax appellate tribunal had erred in holding that rule 19a of the income-tax rules, 1962, did not, in any manner, take away the benefit ..... section 256(1) of the income-tax act, 1961, referring the following questions to this court. they are raised by the assessed, d.c.m. company limited, and the commissioner of income-tax, delhi, and arise out of the consolidated order dated november 28, 1974, passed by the income-tax appellate tribunal, delhi bench. ..... dcm ginning factory, malout, and the dcm ginning factory, hissar, were entitled to the benefits of deduction under section 80j of the income-tax act, 1961, for the assessment ..... an expenditure of rs. 42,118 for attending meetings of the international chamber of commerce of which dr. bharat ram was the president. the income-tax officer disallowed a sum of rs. 22,118 out of the said amount. the appellate assistant commissioner upheld it. the tribunal reversed the said .....Tag this Judgment!
Court : Delhi
Decided on : Aug-26-1985
Reported in : 165ITR119(Delhi)
..... department filed a complaint in march, 1976, for prosecution of the petitioner and her husband under the provisions of sections 277 and 278 of the income-tax act. the complaint remained pending without much action and in the meantime in 1978, the husband of the petitioner died, with the result that the ..... in the present case, thereforee, the learned sessions judge had no power to recall or review his own order and the only remedy of the income-tax department was to have filed a revision petition against the order dated may 18, 1984, of the learned sessions judge. 7. shri satpal, ..... of evidence, the magistrate discharged the petitioner. 3. on april 16, 1984, the income-tax department filed a revision petition against the order of a discharge passed by the magistrate. the next date fixed was may 18, 1984, on which ..... petitioner alone became the accused. the income-tax department did not produce any document or evidence till september 7, 1983. the said department produced some documents on september 8, 1983. after recording ..... by the learned additional sessions judge. 15. but the aforesaid authority was not on the code. it was in respect of the industrial disputes act. thereforee, the authorities of the supreme court which are on the provisions of the code itself and which prohibit review are to be followed. further .....Tag this Judgment!
Court : Kerala
Decided on : Oct-28-1985
Reported in : 162ITR669(Ker)
..... other evidence to show that he had received these two sums from seth krishnadas ramdas. on the other hand, ramdas had made a statement, albeit in another proceeding under the income-tax act, to the effect that he did not have the source to make the aforesaid payment and that it was not his habit to make any payment in excess of rs ..... we do not attach any weight to the statement. the position cannot be now improved by remanding the case to the income-tax officer.'8. the tribunal has, in our view, cast the burden wrongly. it overlooked section 68 of the income-tax act, 1961. it erroneously ignored the importance and significance of the statement of the deceased, ramdas.9. the returns submitted by the ..... assessee in regard to the two entries in question had not been accepted by the income-tax officer. the burden was on the assessee to produce reliable evidence in ..... as his witness, then the appellant should be allowed an opportunity to cross-examine such witness in accordance with the provisions of the evidence act. thereafter, on the basis of the available evidence, the income-tax officer should determine whether the entries in the books pertaining to the loans are genuine or not. for this purpose, the assessment for the year 1962-63 .....Tag this Judgment!
Court : Kerala
Decided on : Sep-26-1985
Reported in : 161ITR718(Ker)
..... by the periyar and pareekanni rubbers ltd., on the acquisition and sale, respectively, of agricultural lands, was, in the hands of the assessees, receipt of dividend assessable to income-tax under the income-tax act, 1961?'3. in substance, what is in issue is the taxability of the amounts received by way of dividends by the assessees from the company out of the compensation ..... within the excepted periods: vide explanation to section 2(6a). ' accumulated profits' are, therefore, profits which are so regarded in commercial practice, and capital gains as defined in the income-tax act. realisation of appreciated value of assets in commercial practice is regarded as realisation of capital rise, and not profits of the business. unless, therefore, appreciation in the value of capital ..... lal singha's case : 82itr460(sc) .8. no doubt, the definition of 'dividend' in section 2(6a) of the indian income-tax act, 1922, is not fully identical with the definition in the corresponding section 2(22) in the income-tax act, 1961. all the same, we should not lose sight of the fact that none of the amendments to the definition--during the ..... on by the tribunal, in our opinion, are not relevant for our purpose. those decisions interpreted the provisions of the english law on income-tax, which could not be treated as authorities for deciding cases governed by the indian income-tax act, 1922, which are not identical to those of the english law.14. the result, therefore, is that we answer the questions in .....Tag this Judgment!
Court : Kerala
Decided on : Jul-23-1985
Reported in : 160ITR120(Ker)
..... is that there was a reconstitution of the firm with the minor remaining the common link. a reading of section 2(23) read with section 187(2) of the income-tax act, 1961, makes it abundantly clear that in a case like this, the reconstituted firm is to be treated as a firm. this was a resurrection of the former ..... follows :'whether, on the facts and in the circumstances of the case, the tribunal was right in law having regard to the provisions of section 36(2) of the income-tax act, 1961, in directing allowance to the extent of rs. 11,512 of debts which the assessee had claimed had become bad? '2. till february 1, 1974, there ..... or steps having been taken to recover the same. the appellate assistant commissioner of income-tax in appeal held that the assessee was entitled to claim the deduction inasmuch as there was reconstitution of the firm. the tribunal having confirmed the order of the appellate ..... , 1974. the minor along with three other persons reconstituted the firm. the assessee-firm claimed certain deduction by way of bad debts during the year in question. the income-tax officer did not allow the deduction holding, firstly, that there was no reconstitution of the firm, and, secondly, that there was no proof of bad debts in existence ..... and against the revenue.7. a copy of the judgment under the signature of the registrar and seal of the court will be forwarded to the income-tax appellate tribunal, cochin bench. .....Tag this Judgment!
Court : Gujarat
Decided on : Mar-04-1985
Reported in : (1986)53CTR(Guj)274; 159ITR253(Guj)
..... reason in support of the view which we are inclined to take and that is the insertion of a new provision in section 35d in the income-tax act, 1961, which of course permits the amortisation of capital expenditure, inter alia, for preparation of feasibility report under specified conditions. in other words, ..... 'ships'. 12. it is no doubt true that so far as the term 'ships' is concerned, there is no legislative dictionary in the income-tax act. it is also equally true that in its ordinary literal meaning, a pontoon cannot be considered as ship. but having regard to the legislative intent ..... be considered to be a ship in its ordinary meaning and not in the meaning given to it by the legislature for the different purposes under the income-tax act. the ordinary dictionary meaning of the term 'pontoon' is 'flat-bottomed boat used as ferry-boat, etc.' (see the new oxford illustrated dictionary ..... 72, the tribunal affirmed the view of the appellate assistant commissioner that the assessee-company is entitled to the relief under section 80j of the income-tax act, 1961, in respect of all the three units on the concession of the parties that the earlier decision of the tribunal holding that the ..... whether, on the facts and in the circumstances of the case, the tribunal has been right in law in allowing relief under section 80j of the income-tax act, 1961, in respect of sikka 4th expansion unit, bombay cement mills 1st expansion, and asbestos products division 1st expansion unit by the assessee : (3 .....Tag this Judgment!
Court : Gujarat
Decided on : Aug-19-1985
Reported in : (1986)1GLR563; 160ITR893(Guj)
..... mother, jashoda, in respect of the business and capital of the bigger hindu undivided family of jivanji govindji bhavsar. the said partial partition was recognised by the income-tax officer under section 171 of the income-tax act by his order of november 15, 1971. the applicant, rameshchandra, and his mother, jashoda, formed a partnership by bringing in capital received by him on the ..... . we are of the opinion that the legal position has been clearly enunciated and settled by the decision of the supreme court in cit v. damodaran : 121itr572(sc) . after explaining the scheme of section 256 of the income-tax act, 1961, which, shortly stated, enables a party aggrieved by the order of the tribunal to seek reference. an aggrieved party is obviously ..... have sought the reference. the commissioner, however, sought the reference from the tribunal under section 256(1) of the income-tax act on the question as to whether the tribunal was right in allowing the appeal by holding that till the order of the income-tax officer recognising the partial partition was set aside in appropriate proceedings, it operated for all intents and purposes and ..... the tribunal to refer these two cross-questions to this court. the commissioner, however, moved this court by the present income-tax application no. 79 of 1983 seeking an order calling for the reference under section 256(2) of the 1961 act. this court has made the rule absolute calling for the statement of a case as prayed for by the commissioner. at .....Tag this Judgment!
Court : Gujarat
Decided on : Oct-23-1985
Reported in : (1986)53CTR(Guj)365; 162ITR612(Guj)
..... charitable or religious objects, it is the surplus realised or available on commercial principles that has to be taken into consideration and not as per the provisions of the income-tax act, is correct in law 3. in the subsequent assessment year 1972-73, the assessee changed to the cash system of accounting. it submitted a return showing a deficit of rs. ..... rs. 76,972 by way of deduction as an amount applied for charitable purposes under section 11(1)(a) of the income-tax act, 1961 (hereinafter called 'thejact'). in that year, the assessee was following the mercantile system of accounting. the income-tax officer refused the deduction whereupon the assessee carried the matter in appeal before the appellate assistant commissioner. the appellate assistant commissioner ..... under : '(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that income-tax liability for an amount of rs. 76,972 should be allowed as deduction under section 11(1)(a) of the income-tax act, 1961 and (2) whether the finding of the tribunal that in order to give meaning to ..... the expression 'income', the deduction of income-tax liability must be taken as an outgoing before the surplus could be ascertained and that while determining the 'income' or the surplus available to the trust for the purpose .....Tag this Judgment!