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Judgment Search Results Home > Cases Phrase: medical degrees act 1916 section 2 definitions Year: 1980 Page 8 of about 431 results (0.534 seconds)

Mar 31 1980 (HC)

Commissioner of Income-tax, Andhra Pradesh Vs. K. Venkateswara Rao

Court : Andhra Pradesh

Decided on : Mar-31-1980

Reported in : [1982]134ITR328(AP)

..... of profits under clause 4 and not under clause 5 was the result of a genuine mistake, we are of the view that the tribunal came to the correct conclusion. 2. no question of law is involved. the application is dismissed.

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Jan 24 1980 (HC)

Commissioner of Income-tax, Andhra Pradesh Vs. Kovur Textiles and Co.

Court : Andhra Pradesh

Decided on : Jan-24-1980

Reported in : [1982]136ITR61(AP)

..... . the difference amount and discount received was allowed as a business loss of the company. the commissioner, however, in exercise of his jurisdiction under s. 263 of the i.t. act, 1961 (43 of 1961), held that such a loss of the company was not to be allowed. the i.t. appellate tribunal on appeal found as of fac : 'the assessee ..... can be allowed as an admissible deduction in computing the income for the assessment year 1971-72 ?' 2. the assessee is a limited company. it had contributed to a 'chit fund' known as rajarajeswari financiers for rs. 25,000 and by september, 1969, had paid eleven instalments. finally ..... raghuvir, j. 1. this reference is made at the instance of the commissioner of income-tax under s. 256(1) of the i.t. act, 1961 (43 of 1961), for opinion of this court on the following questio : 'whether, on the facts and in the circumstances of the case, the loss incurred by the assessee .....

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Mar 31 1980 (HC)

Commissioner of Wealth-tax, Andhra Pradesh Vs. Narendra Ranjalker

Court : Andhra Pradesh

Decided on : Mar-31-1980

Reported in : [1981]129ITR203(AP)

..... to a partner or member shall be treated as the value of the interest of that partner or member in the firm of association.' 11. section 5 of the act deals with exemption in respect of certain assets and enumerates the assets in respect of which tax shall not be payable by an assessee and such ..... connection with the assets of a firm. that expression must be understood in the light of the definition in s. 2(m) of the act, as if the firm is an assessee though the firm is not an assessee under the act. otherwise there was no purpose in the legislature using the expression 'net wealth' in the rules. ..... 75,000 is liable to be excluded from the computation of the net wealth for the assessment year 1973-74 by invoking the provisions of section 5(1) of the wealth-tax act to a fir ?' 7. the appellate tribunal refused to refer the question of law. thereafter, on an application made to this court, this ..... s. 5(1)(xxvi) in his share in the bank deposits held by the firm after the net wealth of the firm is ascertained after giving exemption under the said section. we are, therefore, unable to agree with the decision of the orissa high court in cwt v. i. buthci krishna : [1979]119itr8(orissa) . in purshottamdas gocooldas ..... opinion of the high court : 'whether, on the facts and in the circumstances of the case, the assessee partner is entitled for the exemption under section 5(1)(xxvi) of the wealth-tax act. 1957, in respect of bank deposits made by the firm ?' 5. w. t. c. no. 7 of 1979 : 6. the assessee .....

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Feb 07 1980 (HC)

Commissioner of Wealth-tax, Andhra Pradesh Vs. Amatul Kareem

Court : Andhra Pradesh

Decided on : Feb-07-1980

Reported in : (1980)19CTR(AP)154; [1981]127ITR549(AP)

..... as to how the wealth of the assessee should be assessed falls for consideration in this reference under s. 27(1) of the w.t. act, 1957. 2. immediately after the compromise decree came to be recorded by this court, two ladies, one claiming to be the wife of late nawab salar jung and ..... that the civil court's evaluation of this right done subsequently would be it valuation as at the relevant date either under the e.d. act or the w.t. act. it will be the duty of the assessing authority under either : of the enactments to evaluate this property (right to receive compensation at ..... aspects of the matter which are not in dispute may be clarified. as a result of the notification under s. 4(1) of the land acquisition act, the property of the assessee vested in the government and only the right to receive the compensation vested in the assessee. although the share of the ..... of the interest awarded thereto. in view of the said assessment, 'the commissioner, andhra pradesh, has sought reference under s. 27(1) of the w.t. act on the following four question : '1. whether, on the facts and in the circumstances of the case, the award of enhanced compensation amount of rs. 4, ..... ,526. this amount was paid on july 2, 1962 to the assessee after the interim injunction referred to above was vacated. the assessee-claimant sought a reference under s. 18 of the land acquisition act for enhancement of the compensation. on that reference, the city civil court, hyderabad, enhanced the compensation for the lands .....

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Mar 21 1980 (HC)

Commissioner of Wealth-tax, Andhra Pradesh Vs. Pachigolla Narasimha Ra ...

Court : Andhra Pradesh

Decided on : Mar-21-1980

Reported in : (1980)18CTR(AP)122; [1982]134ITR640(AP)

..... every individual, huf or company with respect to the 'net wealth' of that person on the valuation date. 7. section 2(m) defines 'net wealth' to mean 'the amount by which the aggregate value computed in accordance with the provisions of this act of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included ..... of the revenue is that the liability to pay wealth-tax must be adjudged not on the basis of notions imported from the i.t. act but on the basis of the definition of the word 'asset' given in the act. so done, the revenue argues, the interest that had accrued but not received, would be an 'asset' for the purpose of the ..... not an individual asset. we cannot agree with this argument which goes contrary not only to commonsense but also to the definition of the word 'asset' given in s. 2(e) of the act. accrued interest is 'property' as defined in s. 2(e) and it is, therefore, liable to be valued as an 'asset' for the purpose of computation of the net wealth ..... act. it is also said by the revenue that the assessee, being an individual, can never claim to come under s. 7(2) of the act which deals with an .....

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Mar 26 1980 (HC)

Commissioner of Wealth-tax, Andhra Pradesh Vs. Trustees of H.E.H. the ...

Court : Andhra Pradesh

Decided on : Mar-26-1980

Reported in : [1982]134ITR444(AP)

..... hyderabad, to state a case and refer the above three questions of law for the opinion of this court. 6. section 5 of the act deals with exemptions in respect of certain assets. section 5(1a) specifically limits the exemption to a total of rs. 1,50,000 in respect of the assets specifically mentioned ..... that order of the aac, the income-tax appellate tribunal held that the matter was governed by s. 21(4) of the act read with the second proviso to that section together with the explanation. on that basis, the income-tax appellate tribunal declared that the assessee was entitled to the statutory exemption of ..... circumstances of the case, the the assessee is eligible for exemption under section 21(4) read with section 5(1a) of the wealth-tax act 2. whether the 'ladies of position' and 'khawases' are relatives contemplated under section 21(4) of the wealth-tax act 3. whether the finding of the appellate tribunal that the trust is ..... in that sub-section. under the explanation to s. 21(4) of the act certain of the assets referred to therein should not be excluded in the computation of the net wealth in case the matter ..... rs. 1,50,000 under s. 5(1a) of the act and the assessee should be taxed at the normal rate and not at the rate of 1 1/2 % .....

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Mar 05 1980 (HC)

Hyderabad Construction Co. Ltd. Vs. Commissioner of Income-tax, Andhra ...

Court : Andhra Pradesh

Decided on : Mar-05-1980

Reported in : (1981)20CTR(AP)55; [1981]129ITR81(AP)

..... previous year, or owing to the profits or gains chargeable being less than the allowance, then, subject to the provisions of sub-section (2) of section 72 and sub-section (3) of section 73, the allowance or part of the allowance to which effect has not been given, as the case may be, shall be ..... to there being no profits or gains chargeable for that previous year or owing to the profits or gains chargeable being less that the depreciation. section 32(2) does not impose any other condition regarding continuance of the business or using of the assets. while under s. 32(1) in respect of ..... has to be answered in favour of the assessee in view of the clear terms of s. 32(2) of the i. t. act and the abundance of authority in support of his contention. 11. section 32(2) is in the following terms : 'where, in the assessment of the assessee....... full effect cannot be ..... be given to the statutory provision enacted in section 32(2) of the act of 1961 and that this provision was intended as a separate provision in the 1961 act. 18. the learned judges were considering the proviso to s. 10(2) (vi) of the indian i. t. act of 1922, not as an independent substantive ..... given to any allowance under clause (i) or clause (ii) or clause (iv) or clause (v) or clause (vi) of sub-section (1) or under clause (i) of sub-section .....

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Mar 01 1980 (HC)

Hyderabad Deccan Cigarette Factory Vs. Commissioner of Income-tax, And ...

Court : Andhra Pradesh

Decided on : Mar-01-1980

Reported in : [1981]127ITR460(AP)

..... shall be entitled to have the loss set off and carried forward for set off under ss. 70, 71, 72, 73, 74 and 74a of the act. section 77 deals with losses of unregistered firms or its partners. it provides that any loss of the firm shall be set off or carried forward and set off ..... the following two questions of law for decision : '(1) whether the assessee cannot claim the set-off of the carry forward loss under sections 70 and 71 of the income-tax act (2) whether the income-tax officer who has already determined the carry forward loss to be set off against the income of the assessment year ..... , however, the assessee was also entitled to carry forward his share of the loss in the registered firms to the succeeding year under section 24(2). section 24 of the income-tax act, which provides for the carrying forward a loss in business to the subsequent year or years till the loss is absorbed in profits or ..... may be set off against the income under any other head in that year. that general rule of set-off is enacted by section 70(1) and 71(1) of the income-tax act, 1961. there was, therefore, no prohibition preventing a member of an association of persons from setting off his share of the loss ..... the act. the supreme court ruled (headnote) : '(i) that although the assessee's share of the profit of the unregistered firm was exempt from tax in his hands, it had to be included to ascertain his total income in order to determine the rate applicable to his other income. all that section 14(2) did was .....

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Mar 11 1980 (HC)

Nidimusili Ramana Reddy Vs. Commissioner of Income-tax, Andhra Pradesh

Court : Andhra Pradesh

Decided on : Mar-11-1980

Reported in : [1983]139ITR444(AP)

..... , on the facts, and in the circumstances of the case, there is material for the tribunal to hold that the reassessment proceedings are made under section 147(a) of the act and not section 147(b) of the act and the conclusion of the tribunal that the assessee has suppressed the fact about the ownership of 36 acres of land at the time of ..... of this court : 'whether. on the facts and in the circumstances of the case, the reassessment proceedings are barred by limitation under section 147(b) of the income-tax at or are within limitation under section 147(a) of the act ?' 5. it is not denied by the learned counsel for the applicant that if there is non-disclosure of a primary fact ..... made by the appellate tribunal and, it is for the person who has applied for a reference to challenge those findings first by an application under s. 66(1)(old act). if he has failed to file an application expressly raising the question about the validity of the findings of fact, he is not entitled to urge before the high court ..... assessee's income from 'other sources' in his order passed under s. 143 read with s. 147 of the i.t. act. 2. on appeal before the aac he held that the net yield from the lands would be 1 1/2 candies per acre after deducting the agricultural expenses and, accordingly, he estimated the net yield for 36 acres at 54 candies .....

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Apr 25 1980 (HC)

Warner Hindustan Ltd. and anr. Vs. Income-tax Officer and ors.

Court : Andhra Pradesh

Decided on : Apr-25-1980

Reported in : [1982]134ITR158(AP)

..... up share capital and of its reserve, if any, created under the proviso (b) to clause (vi) of sub-section (2) of section 10 of the indian income-tax act, 1922 (11 of 1922), or under sub-section (3) of section 34 of the income-tax act, 1961 (43 of 1961), and of its other reserves in so far as the amounts credited to such other reserves ..... ] 2 all er 296 construing the expression 'capital employed' in relation to the excess profits tax imposed ..... ) that it should be assessed at the written down value of the asset after allowing depreciation. these writ petitions can be conveniently disposed of by a common judgment. 2. section 80j of the i.t. act, in so far as it is relevant for our present purpose, reads as follows: '80j. deduction in respect of profits and gains from newly established industrial undertakings ..... to find the legislature enlarging the scope of a term or expression by an inclusive definition or restricting its scope by excluding therefrom what would otherwise have been deemed included in the popular parlance. section 35d(3) of the i.t. act which uses the term 'capital employed' includes within that definition 'long-term borrowings'. in birmingham small arms co. ltd. v. irc [1951 .....

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