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Judgment Search Results Home > Cases Phrase: income tax act Year: 1988 Page 9 of about 1,685 results (0.120 seconds)

Jun 15 1988 (HC)

Commissioner of Income-tax Vs. Anwar Begum

Court : Andhra Pradesh

Decided on : Jun-15-1988

Reported in : [1988]174ITR407(AP)

..... court, therefore, found the tribunal to be right in taking the view that in none of the assessment years, the income of the trust could be added on to the income of the assessee under section 16 (3) (b) of the indian income-tax act, 1922. the facts, as seen therein, are entirely different from those on hand and, therefore, that decision is of ..... years 1977-78 and 1978-79, the trustees as 'representative assessees' were assessed to tax by the income-tax officer on the entire income from the share fund under section 160(1)(iv) of the income-tax act on the ground that the beneficiary - anwar begum - is entitled to receive the said income. having failed before the appellate assistant commissioner, the assessees preferred a second appeal before ..... appreciate this contention, it is necessary to have a look at section 160(1)(iv) of the income-tax act, which is as under : '160. representative assessee. - (1) for the purposes of this act, 'representative assessee' means - ... (iv) in respect of income which a trustee appointed under a trust declared by a duly executed instrument in writing whether testamentary or otherwise (including any wakf ..... another decision of the bombay high court in maharani shri vijaykunverba saheb of morvi v. cit : [1975]99itr162(bom) . that was a case concerned with the assessment under section 16 (3) (b) of the indian income-tax act, 1922, which corresponds to section 64(1) of the present act. there, the father who created a trust in favour of his minor son, was .....

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Feb 15 1988 (HC)

Commissioner of Income-tax Vs. Segu Harnath

Court : Andhra Pradesh

Decided on : Feb-15-1988

Reported in : [1988]171ITR318(AP)

..... borrowed by the minor daughter and deduction of these two sums from share incomes was claimed. the income-tax officer declined to accept the aforementioned claim of the assessee. at the same time, the income-tax officer revised the income-tax assessment for the year 1978-79 under section 154 of the income-tax act as if there was a patent and self evident error. in an order ..... passed under section 154 of the act, the income-tax, officer likewise included the share income of the minor daughter in the total income of the assessee rejecting the contention ..... to the three assessment years 1978-79, 1979-80 and 1980-1981. the commissioner of income-tax sought this reference and the following three questions were referred by the income-tax appellate tribunal under section 256(1) of the income-tax act. '1. whether, on the facts and in the circumstances of the case the appellate tribunal is right in holding that the interest of ..... by learned standing counsel. while section 64(1)(iii) of the act authorities the inclusion of the share income of the minor child, it obviously refers to the share income determined in the hands of the minor child by applying all the provisions of the act. section 67(3) of the income-tax act provides that : 'any interest paid by a partner on capital borrowed .....

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Apr 29 1988 (HC)

Commissioner of Income-tax Vs. Sri Krishna Bottlers Pvt. Ltd.

Court : Andhra Pradesh

Decided on : Apr-29-1988

Reported in : (1988)71CTR(AP)88; [1989]175ITR154(AP)

..... moving machinery - would still come under the head of 'plant'. the same, he observed, could as well be said of many air-conditioning and water-softening installations. all that the income-tax act required in this context was that the plant should have been provided 'for the purpose of the trade' - an expression wide enough to cover assets which played a passive as ..... follows : 'whether, on the facts and in the circumstances of the case, the bottles and shells constitute 'plant' and depreciation is admissible thereon under section 32(1)(ii) of the income-tax act, 1961, for the assessment year 1976-77 ?' 2. the assessee is a private limited company manufacturing soft drinks and selling the same at hyderabad and other places. the first assessment ..... co. ltd. : [1987]166itr66(sc) , following the earlier decision of the supreme court in scientific engineering house (p.) ltd. v. cit : [1986]157itr86(sc) . 3. the meaning of the word 'plant' in the context of section 32(1)(ii) of the income-tax act, 1961, has come up for consideration in the courts over a long period of years. the provision of section 43 ..... (3) defines 'plant' as including ships, vehicles, books, scientific apparatus and surgical equipment used for the purposes of the business or profession. in cit v. taj mahal hotel : [1971]82itr44(sc) , the .....

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Feb 29 1988 (HC)

Commissioner of Income-tax Vs. Sri Venkateswara Hatcheries (P) Ltd.

Court : Andhra Pradesh

Decided on : Feb-29-1988

Reported in : (1988)71CTR(AP)80; [1988]174ITR231(AP)

..... anjaneyulu, j.1. this reference arises under the income-tax act, 1961, and it is made by the income-tax appellate tribunal, hyderabad bench, under section 256(1) of the income-tax act, 1961 ('the act' for short), at the instance of the commissioner of income-tax. 2. sri venkateswara hatcheries private limited ('the assessee' for short), established a poultry farm near poona. it runs a hatchery in ..... it should be computed in accordance with commercial profits was rejected. 5. finally, the assessee's claim for agricultural development allowance under section 35c of the act was also rejected by the income-tax officer. as already observed, this claim related only to the assessment year 1977-78. 6. aggrieved by the aforesaid findings of the revenue, the assessee ..... which eggs are hatched on a large scale by adopting latest scientific and technological methods. in connection with its income-tax assessments for the ..... the submissions of learned counsel for the revenue that if the assessee should be entitled to the deduction under section 80j of the act, no deduction under section 80jj could be allowed. in our view, the income-tax officer rightly allowed the assessee's claim for deduction and no interference is called for. 24. we have earlier indicated that .....

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Mar 12 1988 (HC)

Commissioner of Income-tax Vs. Srinivasa Sugar Factory

Court : Andhra Pradesh

Decided on : Mar-12-1988

Reported in : (1988)74CTR(AP)104; [1988]174ITR178(AP)

..... that the entity was the same firm and by registration, the firm got certain additional qualifications and put upon itself certain additional burden. it also observed that the indian income-tax act, 1922, did not indicate any intention to deprive the firm subsequently registered of its right to carry forward the unabsorbed depreciation. so observing, the supreme court allowed the ..... into force. deductions permissible to an assessee for purposes of computation of profits and gains of business, profession or vocation were contained in section 10 of the indian income-tax act, 1922. section 10(2)(vi)(b) was the relevant provision which permitted the benefit of carry-forward and set-off of unabsorbed depreciation. before the amendment was ..... [1984]149itr682(delhi) ) : 'a registered firm is entitled to the benefit of carry forward of unabsorbed depreciation for adjustment against the income of the succeeding year. a registered firm is a separate and distinct entity under the income-tax act, 1961. further, depreciation is allowed in the case of a firm on account of the firm owning the building, plant or machinery ..... this regard, learned counsel drew our attention to a decision of the calcutta high court in universal cargo carriers inc. v. cit : [1987]165itr209(cal) wherein it is held (headnote) : 'business loss as contemplated in section 72 of the income-tax act, 1961, is the net result of a particular commutation under the head 'profits and gains of business'. on such computation, .....

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Mar 07 1988 (HC)

Commissioner of Income-tax Vs. Suresh Chandra Jain

Court : Andhra Pradesh

Decided on : Mar-07-1988

Reported in : (1988)71CTR(AP)42; [1989]178ITR241(AP)

..... was held that where a proprietary business is converted into a partnership, there is no transfer as contemplated by section 2(47) of the income-tax act, 1961, attracting liability to tax under section 45. 25. if was have a choice, we are inclined to agree with the view expressed by the madras high court ..... a partnership. as there was no transfer of the machinery, the development rebate allowed could not be withdrawn under section 155(5) of the income-tax act, 1961.' 7. it is obvious that the kerala high court had considered the question not only from the point of view of sale but ..... whether, on the facts and in the circumstances of the case, development rebate already granted can be withdrawn under section 155(5) of the income-tax act ?' 6. we shall first consider the question whether there is a transfer of property according to general law when an individual throws his property into ..... which he is a partner (ii) if under general law, there is no transfer, whether the definition contained in section 2(47) of the income-tax act, 1961, will have application to cases other than those relevent for the purpose of determining capital gain, if any, on the sale of capital ..... high court observed at page 789 of 156 itr : 'having regard to the water-tight compartmentalisation of different heads of income, which is the elementary scheme of the income-tax act, it was wholly a far-fetched exercise in statutory construction which the tribunal undertook when they applied the definition in section .....

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Jun 22 1988 (HC)

Commissioner of Income-tax Vs. Vazir Sultan Tobacco Co. Ltd.

Court : Andhra Pradesh

Decided on : Jun-22-1988

Reported in : (1987)65CTR(AP)140; [1988]173ITR567(AP)

..... a reading of rule i would show that the chargeable profits for the previous year, for the purpose of this act, are not the same as the total income computed for that year under the income-tax act. the total income computed under the income-tax act for the said year has to be adjusted in accordance with the rules in the said schedule. rule i provides ..... or other payment as is referred to in clause (ii) of section 28 of the income-tax act; (iii) profits and gains of any business of life insurance; (iv) any income referred to in sub-section (2) of section 41 of the income-tax act;...... (vi) income chargeable under the income-tax act under the head 'interest on securities' derived from any security of the central government issued ..... the circumstances of the case, while computing the chargeable profits, 50% of actual donations should be deducted without invoking the ceilings laid down under section 80g of the income-tax act, as restricted by the income-tax officer (it relates to the assessment year 1976-77 only) ?' 2. so far as question no. 2 is concerned, it is concluded by the decision of ..... or declared to be income-tax free or from any security of a state government issued income-tax free, the income-tax whereon is payable by the state government; (vii) an amount equal to .....

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Jun 28 1988 (HC)

Commissioner of Income-tax Vs. Vijaya Chemicals

Court : Andhra Pradesh

Decided on : Jun-28-1988

Reported in : [1989]175ITR311(AP)

..... assessee has failed to produce the account books called for by a notice issued under section 143(2) of the act. simultaneously with the assessment order, the income-tax officer passed an order, on march 31, 1978, under section 185(1)(b) of the income-tax act refusing registration on two grounds, viz., (i) that though the assessee has filed the partnership deed along with form ..... tribunal referred the following question under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is justified in confirming the order passed by the commissioner of income-tax (appeals) directing grant of registration to the firm for the assessment year 1977-78 ?' 2. the relevant facts are that the assessee-firm ..... no. 11 on january 31, 1976, enclosing the partnership deed dated january 28, 1976, for registration of the firm for the assessment year 1977-78. in the first instance, the income-tax officer made a best judgment assessment. it was set aside on an application made under section 146. thereafter, assessment was made again under section 144 on the ground that the ..... by a notice under section 143(2) of the act. it has been found that those account books were not in the custody of the assessee. in view of the abovesaid finding of fact, it must be held that the appellate tribunal was justified in confirming the order passed by the commissioner of income-tax (appeals) directing the grant of registration for the .....

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Mar 18 1988 (HC)

Daulatram and ors. Vs. Income-tax Officer and anr.

Court : Andhra Pradesh

Decided on : Mar-18-1988

Reported in : [1990]181ITR119(AP)

..... injunction of any court shall be excluded. explanation 2. - in this section, the word 'proceeding' means any proceeding in respect of any year, whether under the indian income-tax act, 1922 (11 of 1922), or this act, which may be pending on the date on which a search is authorised under this section or which may have been completed on or before such date ..... commissioner shall not authorise the retention of the books of account and other documents for a period exceeding thirty days after all the proceedings under the indian income-tax act, 1922 (11 of 1922), or this act in respect of the years for which the books of account or other documents are relevant are completed. (9) the person from whose custody any books of ..... other valuable article or thing and any statement made by such person during such examination may thereafter be used in evidence in any proceeding under the indian income-tax act, 1922 (11 of 1922), or under this act. (4a) where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control ..... not, produce or cause to be produced, any books of account or other documents which will be useful for, or relevant to, any proceeding under the indian income-tax act, 1922 (11 of 1922), or under this act, or (c) any person is in possession of any money, bullion, jewellery or other valuable article or thing and such money, bullion, jewellery or other valuable .....

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Feb 24 1988 (HC)

J and J Dechane Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Feb-24-1988

Reported in : [1990]182ITR345(AP)

..... of this court : ' (1) whether, having regard to the words 'at any time before the last instalment of advance tax is due' in section 212(1) of the income-tax act, 1961, the appellate tribunal was correct in coming to the conclusion that the last date for filing the revised estimate would be december 14, 1973 (2 ..... ,935. on appeal by the assessee, the penalty levied by the income-tax officer was confirmed by the commissioner of income-tax (appeals). on further appeal, the income-tax appellate tribunal also confirmed the order levying penalty. it is in these circumstances that the assessee sought for a reference under section 256(1) of the income-tax act and the following questions of law were referred for the consideration ..... 1974-75, the assessee's previous year ended on may 31, 1973. the income-tax officer required the assessee to pay advance tax of rs. 1,54,254 under section 210 of the income-tax act. on june 13, 1973, the assessee filed an estimate under section 212 of the act estimating the income for the assessment year 1974-75 at rs. 8,00,000 and the corresponding ..... advance tax payable thereon at rs. 2,04,378. the instalment due in the month of june, 1973, was, accordingly, paid to .....

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