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Case Laws
Showing 101 to 119 of 119 Records
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1970 (2) TMI 21 - ALLAHABAD HIGH COURT
Estate Duty Act, 1953 - gift of property to wife before death - whether liable to estate duty - yes
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1970 (2) TMI 20 - ANDHRA PRADESH HIGH COURT
Cash credits - remained unexplained - penalty under section 28(1)(c) of Indian Income Tax Act, 1922
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1970 (2) TMI 19 - ALLAHABAD HIGH COURT
Wealth Tax Act, 1957 - valuation - computation of the net wealth - whether the assessment for the assessment year 1957-58 of the market value of the bonds of the face value of Rs. 26,27,300 is right in law having regard to the provisions of section 2(e) of the Wealth-tax Act, 1957, and the provisions of the U. P. Zamindari Abolition and Land Reforms Act, 1951
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1970 (2) TMI 18 - CALCUTTA HIGH COURT
Assessment and certificate for recovery in the name of HUF - Whether Tax Recovery Officer can consider validity of assessment on HUF - Held, yes
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1970 (2) TMI 17 - ALLAHABAD HIGH COURT
Managing agent - Claim for deduction disallowed by the High Court on the ground that had not been laid out wholly and exclusively for the purpose of business - assessee`s contention that the sum is exempt from assessment by virtue of Finance Department notification No. 878(F) dated March 21, 1922, is not tenable
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1970 (2) TMI 16 - CALCUTTA HIGH COURT
Whether the right to compensation under the West Bengal Estates Acquisition Act, 1953, constitutes an asset within the meaning of the Wealth-tax Act and specially in view of the fact where such compensation under the West Bengal Estates Acquisition Act has neither been determined nor paid - Held, yes
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1970 (2) TMI 15 - ORISSA HIGH COURT
Partition of HUF - Whether the memorandum of partition dated May 1, 1957, evidencing previous partition on April 1, 1957, is inadmissible in law for want of registration
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1970 (2) TMI 14 - PUNJAB AND HARYANA HIGH COURT
Appeal to AAC - Maintainability of assessee's appeal under section 30 of the IT Act, 1922 ... ... ... ... ..... ws The benefit under the first part of section 25(4) is certainly one to which an assessee who satisfied the terms of that provision is entitled, and that benefit can be afforded to him in the assessment. If in an appeal against an assessment order, the proper interpretation or effect of section 25(4) comes up for consideration, the assessee can certainly in his appeal have the decision of the Income-tax Officer on that point adjudicated in the appellate court and so on up to this court. But the petition filed by Ramaswami Chettiar in the present case is certainly not one of those enumerated in the Act, and no appeal, therefore, lies from the order passed adversely to the applicant in such an application as the same is not covered by section 30 of the Act. The Appellate Assistant Commissioner was, therefore, right in the view that no appeal lay to him. We would accordingly answer the question of law referred in the negative, in favour of the revenue, and against the assessee.
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1970 (2) TMI 13 - CALCUTTA HIGH COURT
Estate Duty Act, 1953 - interest charged on the provisional duty and the recovery proceedings - legallity
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1970 (2) TMI 12 - BOMBAY HIGH COURT
Whether the transfer of the shares by the assessee-firm to the partners of the firm was made with the object of avoidance or reduction of the liability of the assessee under section 12B - question is answered " in the negative "
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1970 (2) TMI 11 - MADHYA PRADESH HIGH COURT
Sale proceeds of rice were received from the Govt. in the form of cheque - cheque was duly deposited and an amount of Rs. 23,000 was withdrawn in cash for disbursement, which disbursement was to be necessary for the business - held that sum of Rs. 23,000 is deductible in computing the income of the assessee
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1970 (2) TMI 9 - KERALA HIGH COURT
Kerala Agricultural Income Tax Act, 1950 - question raised by the widow of a deceased assessee is whether a notice, exhibit P-1, issued under section 7 of the Travancore-Cochin Revenue Recovery Act, 1951, to her is incompetent or not
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1970 (2) TMI 8 - PUNJAB AND HARYANA HIGH COURT
Memorandum books - assessee employed his own trucks for the purpose of the contract business - no accounts of his business were produced by him - his income from such business was assessed by applying a rate on the receipts and depreciation on the trucks - assessee claimed a loss u/s 10(2)(vii) - memorandum register was produced which showed the relevant entry regarding the purchase and sale of vehicles wherein the loss had been calculated and written off within the meaning of section 10(2)(vii) - revenue's application for issue of mandamus is dismissed
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1970 (2) TMI 7 - PUNJAB AND HARYANA HIGH COURT
Whether, there was a valid gift, by merely transferring from the capital account of L. Nawal Kishore to the account of donees, so that the interest of the various accounts comprises a proper deduction under section 10(2)(iii) - question is answered in the affirmative, that is, in favour of the assessee
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1970 (2) TMI 6 - KARNATAKA HIGH COURT
Trust - conducted a printing press - printed and published a daily paper and weekly paper and also published certain books, pamphlets and other literature - claim for exemption under section 11 of the IT Act, 1961, r/w s. 2(15)
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1970 (2) TMI 5 - PUNJAB AND HARYANA HIGH COURT
Estate Duty Act, 1953 - Whether, on the facts and in the circumstances of the case, the amount of Rs. 10,000 gifted to Sushila Devi in April, 1959, was not includible in the estate of the deceased for the purpose of the Estate Duty Act - yes
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1970 (2) TMI 4 - PUNJAB AND HARYANA HIGH COURT
Feasibility of imposing a penalty - in the case of a Central Minister, in similar circumstances, the penalty was waived - no reason why a citizen should be treated differently than a Minister - Tribunal is directed to examine the feasibility of imposing a penalty after examining the merits of the case
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1970 (2) TMI 3 - BOMBAY HIGH COURT
Whether the development rebate reserve created by the company by duly discharging the amount to the profit and loss account and being allowable under the Act constituted 'accumulated profits' of the company within the meaning of section 2(6A)(e) - Held, yes
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1970 (2) TMI 2 - SUPREME COURT
ITO filed a complaint for certain offences and under a search warrant seized the books of account of the company for 1945 to 1950. This was on July 3, 1951 - shareholders and the company then disclosed on July 31, 1951, a concealed income of Rs. 42,52,501 during the years 1945 to 1948 - Certificate for recovery issued on March 14, 1956 - recovery proceedings not barred by limitation
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