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Judgment Search Results Home > Cases Phrase: income tax act Year: 1985 Page 8 of about 2,217 results (0.175 seconds)

Sep 20 1985 (HC)

Additional Commissioner of Income-tax Vs. SuessIn Textile Ball Bearing ...

Court : Mumbai

Decided on : Sep-20-1985

Reported in : (1986)55CTR(Bom)50; [1987]163ITR582(Bom); [1986]26TAXMAN414(Bom)

..... even shown in the balance-sheet and hence, the assessee could not be denied the benefit of the relief conferred under section 15c(1) of the indian income-tax act, 1922. it was submitted by mr. jetly, learned counsel for the revenue, that, notwithstanding this, we should answer the question referred to us against ..... also been previously used by the earlier occupant thereof for purposes of business the assessee claimed the benefit of partial exemption from income-tax provided under the provisions of section 84 of the income-tax act, 1961 as it stood at the relevant time). in respect of the assessment years 1963-64, 1964-65 and 1965-66 ..... was not entitled to the partial exemption claimed by it. the provisions of section 15c of the indian income-tax act, 1922, are in pari materia with the provisions of section 84 (now repealed) of the income-tax act, 1961, as it stood at the relevant time. it is true that a division bench of the ..... (bom) . this decision was rendered on a claim made by the same assessee as the one before us under section 15c of the indian income-tax act, 1922, in respect of the assessment year 1961-62. the division bench took the view that for the purposes of section 15c(2)(i) of the indian ..... income-tax act, 1922, it is not necessary that the building transferred to the newly started undertaking must have been previously used by the assessee himself .....

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Oct 24 1985 (HC)

Commissioner of Income Tax Vs. Harit Synthetic Fabrics Pvt. Ltd.

Court : Mumbai

Decided on : Oct-24-1985

Reported in : (1986)53CTR(Bom)303; [1986]162ITR640(Bom); [1986]26TAXMAN540(Bom)

..... momentum, more workmen were employed. in the circumstances, it appears to us that substantial compliance with the provisions of sections 80j(4)(iv) of the income-tax act, 1961, had been achieved. the benefit of section 80j cannot be withheld from the assessee (and has to be allowed) on that account.9. ..... this court in sawyer's asia ltd. case : [1980]122itr259(bom) . substantial compliance with the provisions of section 80j(4)(iv) of the income-tax act, 1961, is all that is required. there can be no hard and fast rule by which one can determine whether there has been substantial compliance. ..... in a manufacturing process carried on without the aid of power.5. mr. jetly submitted that the terms of section 80j(4)(iv) of the income-tax act, 1961, required complete compliance and that it would be doing violence to its language to hold otherwise. in other words, the provisions required that ..... instance of the revenue.4. mr. jetly, learned counsel for the revenue, referred to the provisions of section 80j(4)(iv) o f the income-tax act, 1961. by reason thereof, section 80j applies to any industrial undertaking which fulfills, inter alia, the condition that the undertaking employs ten or more ..... till the end of that year, more than ten workers were employed by the assessee. the assessee, therefore claimed relief under section 80j of the income-tax act, 1961, available in respect of the profits or gains earned by a newly established officer declined the relief on the ground that the ten workers .....

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Oct 25 1985 (HC)

Commissioner of Income-tax Vs. Abhay L. Khatau

Court : Mumbai

Decided on : Oct-25-1985

Reported in : (1986)88BOMLR146; (1986)51CTR(Bom)36; [1986]162ITR648(Bom); [1986]24TAXMAN217(Bom)

..... the commissioner of income-tax had acted erroneously in directing its withdrawal.4. arising out of the order of the ..... applying section 64(iii) of the income-tax act, 1961. the income-tax officer observed that the assessee was entitled to rebate under section 85 of the said act upon, inter alia, the said dividends, and assessed the assessee's income accordingly.2. the commissioner of income-tax issued to the assessee a notice to show cause why the income-tax officer should not be directed to withdraw ..... the assessee's hands, so that the second condition was also not fulfilled.6. section 64(iii) of the income-tax act, 1961 requires that in computing the total income of an individual, there shall be included all such income as arises to the spouse of such individual from assets transferred to the spouse by such individual otherwise than for adequate consideration ..... had not been fulfilled and directed the income-tax officer to withdraw the rebate allowed to the assessee under section 85 on the said dividends.3. the assessee appealed to the income-tax appellate tribunal. the tribunal held that the relief under section 85 of the income-tax act, 1961. had been properly given by the income-tax officer on the said dividends and that .....

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Oct 03 1985 (HC)

Commissioner of Income-tax Vs. Bhaichand Textile Mills

Court : Mumbai

Decided on : Oct-03-1985

Reported in : (1986)51CTR(Bom)38; [1986]161ITR129(Bom); [1986]25TAXMAN15(Bom)

..... , shri suryakant bhaichand doshi, as may be required for their maintenance, education and advancement of the said minors.'3. the assessee applied for registration under the provisions of the income-tax act, 1961. the income-tax officer rejected the application on the ground that the partnership deed did not provide for the division of losses among the partners. the appellate assistant commissioner, on the assessee ..... in which the partners were to share the losses, the requirement of section 26a of the indian6. income-tax act 1922, could be said to have been satisfied. (the provisions of section 26a of the 1922 act are substantial]y similar to those of section 184 of the income-tax act, l961, in that an application for registration can be made on behalf of any firm constituted ..... 's case : [1976]102itr1(sc) was considered by this court in harkisondas gokaldas v. cit : [1982]136itr288(bom) . this court noted that though the provisions of section 184 of the income-tax act, 1961, had made certain changes as compared to the provisions of section 26a of the indian income-tax act, 1922, the substantial requirement that there must be a deed of partnership and the individual ..... bharucha, j.1. the question posed at the instance of the revenue in this reference under section 256(1) of the income-tax act, 1961, reads thus :'whether, on the facts and in the circumstances of the case, the assessee-firm is entitled to registration ?'2. the question pertains to the assessment year 1969- .....

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Oct 07 1985 (HC)

Commissioner of Income-tax Vs. Borosil Glass Works Ltd.

Court : Mumbai

Decided on : Oct-07-1985

Reported in : (1986)51CTR(Bom)18; [1986]161ITR286(Bom); [1986]24TAXMAN92(Bom)

..... in holding that the perquisites paid to a. p. giusti are not to be considered under section 40(c)(iii) or section 40(a)(v) of the income-tax act, 1961.10. in the result, all the questions referred to us are answered in the affirmative and against the revenue.11. the commissioner to pay the ..... case, the question before the madras high court arose in relation to a foreign technician whose salary could not be brought under the income-tax act, 1961, as it was not included in his total income. the question related to the perquisites granted to the employee in excess of one-fifth of the amount of salary payable to him ..... allowable by way of deduction as revenue expenditure.8. we now come to question no. 4. section 10 of the income-tax act, 1961, lays down that certain incomes are not to be included in computing the total income of any person. it is common ground that under section 10, the salary paid to a. p. giusti was ..... mr. jetly, to put it very briefly, is that the word 'chargeable' is used differently in the income-tax act from the word 'assessable' and that the levy of tax on income is a different thing from the chargeability of the income under the head 'salary'. it was submitted by him that the salary received by a. p. giusti ..... took the view that words 'seven thousand five hundred rupees or less' in the second proviso to section 40(c)(iii) of the income-tax act, 1961, which was in pari materia with the aforesaid second proviso to sub-clause (v) of clause (a) of section 40 of the said .....

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Sep 17 1985 (HC)

Commissioner of Income-tax Vs. I. Chatterji

Court : Mumbai

Decided on : Sep-17-1985

Reported in : (1986)50CTR(Bom)129; [1986]161ITR535(Bom); [1986]24TAXMAN251(Bom)

..... property occupied by the landlord himself.12. in our view, the words 'and further be reduced' in sub-section (2) of section 23 of the income-tax act, 1961, do not lead to the conclusion that there has already been a reduction in the annual letting value by the application of the provisions contained in ..... as contemplated by the first proviso to sub-section (1).11. we have applied our minds with some care to the provisions of section 23 of the income-tax act, 1961. in our view, the words 'the annual value shall first be determined as in sub-section (1) 'used in sub-section (2) refer ..... as the gujarat high court but did not rest itself solely upon the words 'and further be reduced' in sub-section (2) of section 23 of the income-tax act, 1961. the madras high court found, first, that the expression 'the annual value shall first be determined as in sub-section (1)' occurring in sub- ..... that the words which required interpretation, having regard to the argument before it (which is the argument before us) in sub-section (2) of section 23 of the income-tax act, 1961, were : 'the annual value shall first be determined as in sub-section (1) 'and' and further be reduced by one-half of the amount'. ..... by the landlord.7. mr. dalvi then placed emphasis upon the words 'and further be reduced' in sub-section (2) of section 23 of the income-tax act, 1961. these words, he argued, necessarily indicated that a reduction from the annual letting value had already been made in computing it under sub-section ( .....

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Sep 11 1985 (HC)

Commissioner of Income-tax Vs. K.M. Sheth

Court : Mumbai

Decided on : Sep-11-1985

Reported in : (1986)50CTR(Bom)210; [1986]160ITR814(Bom)

..... instant case, the transfer of the shares had been effected before april 1, 1961, and the provisions of section 64 of the income-tax act, 1961, were not retrospective in nature, the income arising by way of capital gain could not be taxed in the hands of the assessee.10. with great respect to the learned judges of the rajasthan high court, we are unable ..... so as to take away or impair an existing right or create a new obligation or impose a new liability. unlike section 60, the income-tax act, 1961, the expression 'whether effected before or after the commencement of this act' did not find mention in section 64. there was nothing in section 64(iv) to show that the provisions were retrospective. all laws were ..... bharucha, j.1. the questions, referred for our consideration at the instance of the revenue in this reference under section 256(1) of the income-tax act, 1961, read thus :'(1) whether, on the facts and in the circumstances of the case, the capital gain of rs. 44,726 realised on sale of 1,500 shares of ..... to another minor son in 1960. the income from these assets had not been included in her total income. according to the income-tax officer, the income of the minor sons had, by reason of section 64 of the income-tax act, 1961, to be included in her total income. accordingly, he started reassessment proceedings and brought the income from their assets to tax in the hands of the assessee. the .....

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Sep 12 1985 (HC)

Commissioner of Income-tax Vs. Kamani Engineering Corporation Ltd.

Court : Mumbai

Decided on : Sep-12-1985

Reported in : (1986)50CTR(Bom)113; [1986]161ITR473(Bom)

..... new unit started on june 1, 1967. the assessee claimed the benefit of section 80j of the income-tax act, 1961.7. the income-tax officer declined to give to the assessee the benefit of section 80j of the income-tax act, 1961, in respect of the plant at jaipur on the grounds that it was a continuation of the ..... regard to the jaipur plant and inasmuch as there was a shifting of a part of the capacity to rajasthan, the provisions of section 80j of the income-tax act, 1961, were not attracted.11. there is not a word to show that there was, in fact, unity of control. the shifting of a ..... existing business of the assessee and that it had only shifted a part of its capacity there and so the provisions of section 80j of the income-tax act, 1961, were not attracted. the tribunal held that the new unit at jaipur was intended to utilise a part of the capacity for which the ..... be deducted from the assets for both the assessment years for the purpose of arriving at the capital employed for determining the relief under section 80j of the income-tax act, 1961 ?2. whether, on the facts and in the circumstances of the case, the sums of rs. 1,22,371 and rs. 7,125, ..... appeal, the appellate assistant commissioner held that all the conditions of section 80j(4) of the income-tax act, 1961, were satisfied and gave relief to the assessee to the extent he considered admissible.9. in appeal before the income-tax appellate tribunal, the revenue contended that the business started at jaipur was merely an extension of .....

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Sep 16 1985 (HC)

Commissioner of Income-tax Vs. M.N. Nadkarni

Court : Mumbai

Decided on : Sep-16-1985

Reported in : (1985)87BOMLR468; (1986)52CTR(Bom)213; [1986]161ITR544(Bom); 1985MhLJ814; [1986]25TAXMAN9(Bom)

..... a reference who is entitled to specify the question of law which should be referred. where the order of the tribunal under section 254 of the income-tax act has decided the appeal partly against one party and partly against the other, the party who is aggrieved and who desires a reference to the high ..... obligation which, but for such payment, would have been payable by the assessee.'6. coming to the provisions of section 17(2)(iii)(c) of the income-tax act, it appears that it is not possible to take the view that in this case, the scholarships paid to the children of the assessee could be ..... propose first to discuss question no. 1 referred to us. in this connection, it will be useful to take note of the provisions of section 17 of the income-tax act. sub-section(l) of section 17, inter alia, provides that 'salary' includes perquisite given to an employee. sub-section (2) of section 17 gives an ..... assessment years and hence this amount could be treated as a perquisite received by the assessee under the provisions of section 17(2)(iv) of the income-tax act. the tribunal pointed out that if the revenue wanted to rest its case under section 17(2)(iv), it should have brought on record material to ..... the scholarship amount of rs. 2,400 given by the employer to the two children of the assessee-employee is exempt under section 10(16) of the income-tax act, 1961 ?'2. question no. 1 was referred at the instance of the commissioner and question no. 2 was referred at the instance of the assessee.3 .....

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Oct 16 1985 (HC)

Commissioner of Income-tax Vs. P. Gency

Court : Mumbai

Decided on : Oct-16-1985

Reported in : (1986)54CTR(Bom)386; [1986]162ITR434(Bom)

..... the actual traveling expenses incurred by him in attending to the work of his employer.3. in our view, the question referred poses hardly any difficult. section 16 of the income-tax act, 1961, provides for deductions from salary. under the provisions of clause(iv) of that section, as it stood at the relevant time, and having regard to the salary of the ..... us is as follows :'whether, on the facts and in the circumstances of the case, the assessee was entitled to deduct rs. 2,400 under section 16(iv) of the income-tax act, 1961 ?'2. the relevant facts are as follows. the year with which we are concerned in the assessment year 1971-72. the assessee was the works manager of the west ..... own during the relevant previous year and claimed deduction of rs. 2,400 under section 16(iv) of the income-tax act, 1961, in the year of assessment. the income-tax officer as well as the appellate assistant commissioner rejected this claim. on appeal to the income-tax appellate tribunal, the tribunal took the view that the assessee was entitled to claim this deduction. on a plain ..... him. right from the first year in which this allowance was paid to the assessee up to the year 1961-62, the income-tax officer concerned took the view that it was exempt under section 4(3)(vi) of the indian income-tax act, 1922, and in respect of the assessment years from 1962-63 up to the assessment year in question, a similar deduction .....

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