Court : Kerala
Decided on : Jan-31-1986
Reported in : (1987)59CTR(Ker)298; 160ITR511(Ker)
fathima beevi, j.1. this reference under section 256(2) of the income-tax act arises for the assessment year 1969-70. a penalty of rs. 3,13,877 levied under section 271(1)(c) of the act by the inspecting assistant commissioner was cancelled by the income-tax appellate tribunal. the following questions of law are referred as directed by this court at the instance of ..... the revenue :'1. whether, on the facts and in the circumstances of the case and in view of the fact that the assessee has agreed in writing to the addition of the concealed income ..... of rs. 2,33,687 and also to the levy of penalty, the income-tax appellate tribunal is right in law in deleting the penalty ignoring the admission made by the assessee ?2. whether, on the facts and ..... in the circumstances of the case, the income-tax appellate tribunal is right in law in finding that there is no concealment in respect of income from interest on gold and d.p.n. loans and is not this finding wrong and unreasonable and based on surmises only .....Tag this Judgment!
Court : Gujarat
Decided on : Mar-19-1986
Reported in : (1986)56CTR(Guj)182; 164ITR102(Guj)
..... . the tribunal has completely ignored the settled position of law that rules of evidence do not apply to assessment proceedings under the income-tax act, 1961. as held by the supreme court in c. vasantlal co. v. cit : 45itr206(sc) , the income-tax officer is not bound by any technical rules of the law of evidence. it is open to him to collect materials to ..... the material so collected, the assessee must be informed of the material and must be given an adequate opportunity of explaining it. in the case before the supreme court, the income-tax officer examined two witnesses in the absence of the assessee but the appellate assistant commissioner permitted the assessee to cross-examine those witnesses after summoning them. the supreme court held ..... that the statements made by the witnesses before the income-tax officer were material upon which the tribunal could act and it was open to the tribunal to rely upon the statements made by them before the income-tax officer and disbelieve the statements made by them before the appellate assistant commissioner. in view of the ..... settled position of law, it was open to the income-tax officer to examine ramkumar in the course of the .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Sep-30-1986
Reported in : (1986)57CTR(SC)25; 162ITR373(SC); 1986(2)SCALE573; (1986)4SCC689; 3SCR980
..... year 1957-58 then pending in appeal before the assistant appellate commissioner, could not bring the case within proviso (b) to sub-section (1) of section 33a of the indian income tax act. it may be that the same point was the subject of the appeal, but the point agitated before the commissioner was with reference to the assessment year 1957-58. it ..... in different parts of the world, and has a hundred per cent share holding in an indian subsidiary, brooke bond (india) limited.3. the appellant is assessed under the indian income tax act, and the relevant financial year is the previous year in relation to the corresponding assessment year. for the assessment year 1955-56 the appellant was assessed on its total world ..... . on february 12, 1958 the appellant preferred two revisions applications, one each for the assessment years 1955-56 and 1956-57, before the commissioner of income-tax under sub-section (2) of section 33a of the indian income tax act, 1922. in the revision application for the assessment year 1955-56 the appellant claimed that the quantum of loss determined for that year having been ..... city v. chugandas and co. : 55itr17(sc) and it was reiterated that business income was broken up under different heads under the income tax act only for the purpose of computation of the total income, and that by breaking up the income did not cease to be the income of the business. it was said:the heads described in section 6 and further elaborated for the .....Tag this Judgment!
Court : Delhi
Decided on : Feb-24-1986
Reported in : 160ITR597(Delhi)
..... s. ranganathan, j.1. these applications under section 256(2) of the income-tax act, 1961, can be disposed of by a consolidated order as they arise out of the assessments of the same assessed in somewhat similar circumstances. ..... it are not justified, as they ignore the context and the background in which these observations have been made. for the assessment year 1971-72, the income-tax officer had listed certain specific defects and discrepancies which are neatly summarised by the appellate assistant commissioner in paragraph 2 of his order. the appellate assistant ..... the department in these reference applications filed at the instance of the commissioner of income-tax is that the appellate tribunal was in error in reducing the addition to rs. 15,000 in the assessment year 1971-72 and in deleting the ..... book results and dismissed, the department's appeal and allowed the assessed's appeal. in the assessment year 1974-75, the income-tax officer made an addition of rs. 2,50,000 which was deleted by the appellate assistant commissioner as well as by the tribunal. the grievance of ..... s appeal restricting the addition only to rs. 15,000. for the assessment year 1972-73, the addition of rs. 5,32,277 made by the income-tax officer was reduced by the appellate assistant commissioner to rs. 32,277. even this addition was deleted by the tribunal which directed the acceptance of the .....Tag this Judgment!
Court : Delhi
Decided on : Aug-08-1986
Reported in : (1987)59CTR(Del)16; 166ITR529(Delhi)
..... in law in holding that there was no justification for disallowing the payment in cash amounting to rs. 11,85,653 disallowed by the income-tax officer under section 40a(3) of the income-tax act, 1961?' 3. it was urged by learned counsel for the department that there was a clear question of law arising out of the ..... of fact and does not involve a question of law. as a matter of fact, section 40a(3) of the income-tax act, 1961, has been construed by a division bench of the gujarat high court in hasanand pinjomal v. cit : 112itr134(guj) , stating that the rigour of the rule has to be relaxed in the circumstances of ..... kapur, c.j.1. these are two petitions under section 256(2) of the income-tax act, 1961, before us for the assessment years 1976-77 and 1978-79, concerning the same assessed, m/s. union agencies, new delhi. the appeal ..... difficulty to the payee, having regard to the nature of the transaction and the necessity for expeditious settlement thereof. and also furnishes evidence to the satisfaction of the income-tax officer as to the genuineness of the payment and the identity of the payee.' 8. it was notices in the order that actually m/s. om prakash ..... tribunal's order. but, equally, it was contended for the assessed that it was a pure question of fact. the tribunal has also refused to make a reference in its order under section 256(1) of the act .....Tag this Judgment!
Court : Kerala
Decided on : Mar-06-1986
Reported in : (1987)60CTR(Ker)196; 161ITR36(Ker)
..... tribunal, cochin bench, has referred the following questions to this court under section 256(1) of the income-tax act:'1. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that there was a capital element in the ..... .3. the assessee claimed deduction of the royalty of rs. 34,779 paid during the accounting period relevant to the assessment year 1976-77 as a revenue expenditure. the income-tax officer disallowed the claim for deduction holding that the expenditure was of a capital nature. in appeal, at the instance of the assessee, the appellate assistant commissioner allowed the ..... not accepted by the supreme court. the supreme court observed at page 43:'as observed by this court in the case of assam bengal cement co. ltd. v. commissioner of income-tax : 27itr34(sc) , if the expenditure is made for acquiring or bringing into existence an asset or advantage for the enduring benefit of the business, it is properly ..... at page 12 :'now it is true that if disbursement is made for acquisition of a source of profit or income, it would ordinarily, in the absence of any other countervailing circumstances, be in the nature of capital expenditure.'8. in cit v. jacobs (p.) ltd. : 120itr197(ker) , a division bench of this court had to consider the ..... assessee and against the revenue.12. a copy of this judgment under the seal of the court and the signature of the registrar will be forwarded to the income-tax appellate tribunal, cochin bench.Tag this Judgment!
Court : Chennai
Decided on : Jun-19-1986
Reported in : (1986)55CTR(Mad)398; 166ITR199(Mad)
..... v. ramaswami, j.1. the following three questions have been referred at the instance of the assesses under section 256(1) of the income-tax act, 1961 : '1. whether, on the facts and in the circumstances of the case, the sum of rs. 90,500 received by ..... 7,004. in this return, he claimed a sum of rs. 90,500 as receipt and not taxable as income. however, the income-tax officer took the view that it is a revenue receipt assessable to income-tax on the ground that : 'this represents profits which the assessee would have made had the partnership continued. the entire ..... therefore, bone no doubt that what was given under the compromise as held by the appellate assistant commissioner was for surrendering the assessee's source of income, namely, the share in the partnership. the assessed entered into the partnership with a view to bringing into existence a source expected to yield a regular ..... source was surrendered by him, the compensation received in lieu of such surrender would manifestly be a receipt on capital account. the ratio of the decision in cit v. uttama reddy : 148itr580(mad) relied on by learned counsel for the revenue, far from supporting the revenue, supports the case of the ..... was for relinquishing all his rights in the partnership and that no part of its related to his business income and that, therefore, the inclusion of the sum of rs. 90,500 as revenue income cannot be sustained. in that view, the appeal was allowed. the revenue assistant commissioner was right in his .....Tag this Judgment!
Court : Karnataka
Decided on : Jul-30-1986
..... ?' 3. one muddusuvarna was the original assessee. for the assessment year 1973-74 he was served with a notice under section 139(2) of the income-tax act, 1961, but he did not file the return. he died on january 9. 1975, leaving behind him his wife and children including the eldest son ..... jagannatha shetty, actg. c.j.1. these are references under section 256(1) of the income-tax act, 1961, all these references pertain to the same assessee and the assessment year is 1973-74.2. the tribunal has referred the ..... for the assessee, submitted that the initiation of assessment proceedings was bad since the estate of late muddusuvarna was not fully represented before the income-tax officer and the income-tax officer issued a notice under section 139(2) only to ashok kumar and he ought to have issued such notices to all the legal ..... make it clear that notices shall be issued to all the legal representatives of muddusuvarna and their objections will have to be considered by the income-tax officer before transmitting the papers with the draft order to the inspecting assistant commissioner under section 144b.12. in the circumstances, we answer the first ..... 1977, that there are also other legal representatives and the estate of muddusuvarna was, therefore, not properly represented since they were not notified. the income-tax officer, however, did not issue notices to the other legal representatives. the proceedings continued and the inspecting assistant commissioner made an order under section 144b .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-21-1986
Reported in : 165ITR279(Bom)
..... during the relevant previous year ending on march 31, 1962.19. the next submission of mr. jetly which was his main submission was that, under the provisions of the agricultural income-tax act, in order that the payment or disbursement might be allowed as a deduction, it was not only necessary that the payment should be made during the relevant previous year, but ..... merits of these contentions, we propose to refer to or set out the relevant provisions of the maharashtra agricultural income-tax act. sections 4 and 5 of the said act deal with the charge of agricultural income-tax. sub-section (1) of section 4 provides that agricultural income-tax shall be charged at the rate specified in sub-section (2) of section 4 for each financial year, in ..... or the appellate tribunal. although this decision has been rendered under the provisions of the indian income-tax act, 1922, it is agreed by counsel that the principles laid down in that case is also applicable to the powers conferred under the said act, namely, the maharashtra agricultural income-tax act, 1962. hence, in considering the question, what we have to see is whether the order of ..... allowed the claim of the assessee firm for relief under section 25(4) of the indian income-tax act, 1922, on the ground that there was a succession only in so far as it related to income-tax but declined to grant any relief in respect of super-tax as super-tax had not been paid by firm either for 1920-21 or 1921-22. the appeal .....Tag this Judgment!
Court : Mumbai
Decided on : Jan-08-1986
Reported in : 162ITR153(Bom)
..... that the auction sale held in favour of respondents nos. 3 and 4 is required to be set aside under rules 60 and 61 of the second schedule to the income-tax act, 1961. rule 60 provides that where an immovable property has been sold in execution, the defaulter may at any time within 30 days from the date of sale, apply to ..... has become final is set aside and respondent no. 1 is directed to dispose of the application filed by the petitioner under rule 61 of the second schedule to the income-tax act, 1961, on merits and in the light of the observations made in this judgment.8. in the circumstances of the case, there will be no order as to costs ..... was rs. 16,82,225. shri dhanuka is, therefore, right in submitting that the petitioner was not entitled to the relief under rule 60 of the second schedule to the income-tax act, 1961.6. but, in my judgment, the petitioner has already filed an application under rule 61 on march 16, 1984. the petitioner by addressing a letter to the ..... and the petitioner did deposit that amount on april 6, 1984. on the same day, the petitioner addressed a letter to the tax recovery officer for cancellation of the sale under rule 60(1) of the second schedule to the income-tax act, 1961. the petitioner was informed by respondent no. 1 that a further amount of rs. 43,500 is required to be .....Tag this Judgment!