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Showing 41 to 60 of 64 Records

• 1969 (8) TMI 24 - ANDHRA PRADESH HIGH COURT
  

  Sum incurred by the assessee on his foreign tour - allowable expenditure u/s. 10(2)(xv) of the IT Act, 1922

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• 1969 (8) TMI 23 - RAJASTHAN HIGH COURT
  

  Penalty imposed u/s 271(1)(a) of the IT Act, 1961 was reduced from Rs. 4,781.12 to Rs. 1,000- validly

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• 1969 (8) TMI 22 - CALCUTTA HIGH COURT
  

  Whether buildings and premises along with garages, sheds for tractors, kitchens, shops, etc., could be treated as 'out-houses' within the meaning of section 2(e)(ii) of the WT Act, 1957, and as such exempted from wealth-tax - Held, no

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• 1969 (8) TMI 21 - MADRAS HIGH COURT
  

  Assessment - assessee was a Vysia and his so-called wife was a Sudhra and that beyond the fact that there was only the tying of thali, there was no other ceremony - Whether the Tribunal was right in law in holding that the assessee was entitled to be assessed in the status of HUF - Held, yes

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• 1969 (8) TMI 20 - ORISSA HIGH COURT
  

  Notice under section 148 - reason to believe that all material facts had not been fully and truly disclosed by the assessee - held that notice under section 148 of the Act is not without jurisdiction

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• 1969 (8) TMI 19 - ANDHRA PRADESH HIGH COURT
  

  Whether a notice issued under s. 34 based on a certain item of income that had escaped assessment, can be used to include other items which had escaped assessment - Held, yes

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• 1969 (8) TMI 18 - RAJASTHAN HIGH COURT
  

  While making gift amount was transferred to the donees without reserving any right in that amount - Whether the gift was voidable and as such the interest accruing on the aforesaid gifted amount did not accrue to the family for income-tax purposes - Held, yes

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• 1969 (8) TMI 17 - ALLAHABAD HIGH COURT
  

  Whether it is legal to assess an unregistered firm after assessing the share income from the firm in the hands of one of the partners - question referred by the Tribunal is answered in the negative and in favour of the assessee

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• 1969 (8) TMI 16 - ALLAHABAD HIGH COURT
  

  Allowable expenditure - section 10(2) - revenue expenditure or capital expenditure

  
  
  ... ...
  ... ... ..... or the purpose of the assessee s trade. The finding of the Tribunal is that the roofs of the godowns and the dye-houses had become very old and they had caved in. It was, therefore, necessary for the assessee, in order that it might carry on its business of manufacture of tents, durries, etc., to ensure that the godowns and dye-houses were kept in a usable condition. Here, the assessee did no more than that and it follows, therefore, that the expenditure was incurred by the assessee for the purpose of its business and for no other consideration. We would, therefore, answer the question in the affirmative and in favour of the assessee. The amount of Rs. 15,774 expended by the assessee is allowable as a business expenditure for the assessment year 1958-59 and Rs. 10,466 is allowable as an expenditure of the business for the assessment year 1960-61. The assessee will get costs of this reference from the Commissioner of Income-tax, U.P., Lucknow. We assess such costs at Rs. 200.

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• 1969 (8) TMI 15 - ORISSA HIGH COURT
  

  Loss sustained in the speculative transactions which are in the nature of a business cannot be construed as "business expenditure" - such loss should, however, be taken into account in any other business consisting of speculative transactions

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• 1969 (8) TMI 14 - ALLAHABAD HIGH COURT
  

  Review application - power to rectify order

  
  
  ... ...
  ... ... ..... recall and cancel an invalid order is not simply permitted to, but is the duty of, a judge, who should always be vigilant not to allow the act of the court itself to do wrong to the suitor. It would be a serious injury to the suitor himself to suffer him to attempt to execute an inoperative order. It is not necessary to multiply authorities. It appears to us that the law is well settled that a court as a tribunal has inherent jurisdiction to rectify a wrong committed by itself when that wrong causes prejudice to a party for which that party is not responsible. We are not mentioning the authorities on which Mr. Gopal Behari has placed reliance because none of the cases that he has cited are those where the court had to act in order to undo a mischief which had been committed by its own act to the detriment of a party without that party being responsible for it. We are satisfied that the view taken by S. C. Manchanda J. is correct. We, therefore, dismiss this appeal with costs.

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• 1969 (8) TMI 13 - ALLAHABAD HIGH COURT
  

  Assessees applied to the Tribunal under section 66 of the Act for reference to the court on the ground that a partner of a firm could not be assessed to income-tax without prior assessment of the firm itself - held that, it is legal to assess the partner's share income from firm, prior to raising a separate assessment on the firm

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• 1969 (8) TMI 12 - ALLAHABAD HIGH COURT
  

  Whether the assessment in the name of the Hindu undivided family is bad in law - question referred to the court is answered in the negative, and against the assessee

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• 1969 (8) TMI 11 - PATNA HIGH COURT
  

  Agricultural Land

  
  
  ... ...
  ... ... ..... t, and subsequently when they realised that it was not agricultural land, then they assessed tax on this land also. Regard being had to the different interpretations which have been put to the meaning of the expression, agricultural land , and also other circumstances which I nave discussed above, the department cannot be held to have erred in making assessment in this land also when it transpired that this land was also subject to assessment of wealth-tax. On a consideration of the entire set of circumstances aud the legal aspects of the matter, the question which has been referred by the Tribunal is answered in the affirmative to the effect that, on the facts and the circumstances of the case, the Tribunal was justified in holding that the disputed land was not agricultural land at the relevant date for the purposes of the Wealth-tax Act. This reference is thus disposed of but, in view of the circumstances of the case, no order for costs is made. S. C. MISRA C.J.- I agree.

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• 1969 (8) TMI 10 - PATNA HIGH COURT
  

  Estate Duty Act, 1953 - property - leviability of estate duty

  
  
  ... ...
  ... ... ..... nd to do even in any ex parte assessment. Ex parte assessment also was not justified in the peculiar circumstances of the case. If I had come to a different conclusion in regard to the liability of the successor mahanth to estate duty holding that he could not claim exemption, I would have considered this contention with reference to the following cases which have been brought to our notice Abdul Qayum and Co. v. Commissioner of Income-tax Tribune Trust v. Commissioner of Income-tax Dhakeswari Cotton Mills Ltd. v. Commissioner of Income-tax Seth Nathuram Munnalal v. Commissioner of Income-tax State of Kerala v. C. Velukutty Surajmal Champalal v. Commissioner of Income-tax Madupalli Anjaneyulu and Co. v. State of Andhra Vuddagiri Kanakaraju and Sons v. Andhra State. In the result, therefore, the order of estate duty passed in this case must be quashed as unsustainable. The application is accordingly allowed and the reference is answered in the negative. WASIUDDIN J.- I agree.

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• 1969 (8) TMI 9 - RAJASTHAN HIGH COURT
  

  Gift Tax Act, 1958 - whether ITAT was competent to entertain and decide any objection to the Gift-tax Act, 1958, being ultra vires or unconstitutional in regard to certain provisions contained in it - Held, no

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• 1969 (8) TMI 8 - BOMBAY HIGH COURT
  

  An agriculturist businessman purchased 2 plots of agricultural land - a university established near the land and consequently the price of land increased - businessman sell the plots at great profit - assessee purchased these plots only by way of investment and they cannot be treated as held for the purposes of business or in order to undertake a venture in the nature of trade

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• 1969 (8) TMI 7 - SUPREME COURT
  

  Whether in determining the net value of the assets u/s 7(2), the value of the company's fixed assets as shown in its balance-sheet as on the valuation date should have been substituted by the w.d.v. of these assets as per the company's income-tax record - whether for determining the net value of assets, an adjustment on account of normal depreciation of the fixed assets from the date of revaluation of the assets to valuation date was justified - Appeal of revenue is allowed by way of remand

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• 1969 (8) TMI 6 - SUPREME COURT
  

  Best Judgment Assessment - Agricultural ITO can not proceed directly to assess to best of his judgment u/s. 20(4) without serving a notice u/s. 19(2)- If no return is made in response to a public notice under s. 19(1) of the Act and no individual notice is served u/s. 19(2) there would be no pending proceedings and it would be a case of escaped assessment - revenue appeal dismissed

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• 1969 (8) TMI 5 - SUPREME COURT
  

  Whether the Tribunal was right in holding that the distribution to the assessee of the amount attributable to land acquisition compensation received by the U Ltd., was in the hands of the assessee, receipt of dividend within the meaning of s. 2(6A) of the IT Act, 1922. - Order passed by the High Court is, therefore, set aside and the case is remanded to the High Court

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