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1970 (10) TMI 81 - Supreme Court The court held that the letter (Ex. 1) constituted an acknowledgement of liability by the corporation, and Subramanyam had the implied authority to make such an acknowledgement. Consequently, the suits were not barred by limitation. The court allowed the appeals, set aside the High Court's judgment, and remanded the case to the High Court for further proceedings to ascertain the amounts due to the appellants. The court also directed the corporation to pay the appellants' costs of the appeals.
1970 (5) TMI 65 - ALLAHABAD HIGH COURT The court held that an exemption application with a deficit fee must be rejected as incompetent if the required fee is not deposited within the specified time frame. The assessing authority does not have jurisdiction to demand deficiency in the initial fee deposit during the assessment year. Additionally, the authority cannot finalize an exemption case and demand deficiency after the assessment year if only partial payment was made. Default assessment can be made without prior demand if the applicant fails to comply with exemption fee requirements. Costs were awarded to the Commissioner of Sales Tax against specific dealers, and the reference was answered accordingly.
1969 (8) TMI 5 - Supreme Court The Supreme Court set aside the High Court of Calcutta's decision regarding the taxability of dividends received by the assessee from Ukhara Estates Zamindaries Ltd. The Supreme Court emphasized the need for a thorough assessment to determine whether the amounts received were capital gains or income, without being influenced by previous judgments. The Court remanded the case for further consideration, highlighting the importance of providing final answers with reasons. The Supreme Court did not award costs for the appeal but indicated that costs in the High Court would apply to the references.
1969 (3) TMI 91 - Supreme Court The Supreme Court held that the decision in a previous suit operated as res judicata in the present case regarding a property dispute. Despite the High Court's differing view, the Supreme Court emphasized that the properties in question were the same in both suits. It was deemed unnecessary for the respondent's father to specify his capacity in the earlier suit, as a decree against the manager could bind coparceners not party to the suit. The Court cited precedents supporting that when the manager represents the family in a suit involving family property, it binds the entire family. The appeal was allowed, overturning the High Court's decision and reinstating the trial court's judgment, with costs awarded to the appellants.
1966 (11) TMI 75 - Supreme Court The Supreme Court held that assessing a dissolved firm without a statutory provision is impermissible under the Punjab General Sales Tax Act. The Court emphasized that a dissolved firm loses its legal existence and cannot be assessed unless permitted by law. The Court set aside the High Court's order and directed a reevaluation to conclusively determine the dissolution date, highlighting the necessity for clarity in assessment proceedings.
1965 (3) TMI 6 - ALLAHABAD High Court The court ruled in favor of the petitioner, a Hindu undivided family, in a tax recovery case. It found that subsequent proceedings post a penalty reduction by the Income-tax Appellate Tribunal were null and void due to non-compliance with mandatory provisions. The court quashed actions taken after the penalty reduction, set aside auction sales, vacated the order confirming sales, and directed restoration of possession of auctioned properties to the petitioner. The court emphasized the importance of compliance with natural justice principles and the jurisdiction of the High Court to ensure justice, despite the existence of alternative remedies.
1963 (12) TMI 16 - PUNJAB HIGH COURT The court dismissed the writ petition, affirming the Assessing Authority's jurisdiction to assess a dissolved firm. Since the assessment proceedings were initiated before the firm's dissolution without formal intimation under Section 16 of the Act, the firm remained liable. The Full Bench decision in Jullundur Vegetable Syndicate was deemed irrelevant as it concerned firms dissolved before assessment proceedings. The amendment in the definition of "dealer" did not alter the assessment of dissolved firms. The court stressed the importance of formal intimation for liability cessation and allowed assessment proceedings to continue post-dissolution to prevent fraud.
1960 (4) TMI 66 - ALLAHABAD HIGH COURT The High Court of Allahabad ruled in favor of the assessee, allowing the deduction of interest paid on borrowed money for purchasing shares in a non-yielding company against income from other sources. The court applied Section 12(2) and Section 24(1) of the Income-tax Act, following the precedent set by the Bombay High Court, to permit the set-off of the interest paid as a legitimate deduction. This decision clarified the interpretation of the relevant sections and provided a favorable outcome for the assessee, granting them the entitlement to adjust their taxable income accordingly.
1957 (12) TMI 30 - PUNJAB HIGH COURT The court upheld the Tribunal's decision that the payment made to oust a competitor was a capital expenditure, determining ownership of the share in the firm in favor of the family firm, finding no legal error in debarment from raising objections, supporting the Income-tax Officer's determination of a partner's status, and concluding that the Tribunal's order was not flawed for not fully considering the remand report. The court dismissed the applications, affirming the Income-tax authorities' findings and awarded costs to the respondent's counsel.
1956 (5) TMI 28 - ALLAHABAD HIGH COURT The High Court of Allahabad rejected a consolidated reference in a sales tax matter, deeming it incompetent under the U.P. Sales Tax Act and Civil Procedure Code. The Court refused to address the questions raised and awarded costs to the respondents.
1954 (2) TMI 18 - PATNA HIGH COURT The High Court ruled in favor of the assessee, finding insufficient evidence to support the assessment of income tax on the cash credit under Section 34 of the Income-tax Act. The burden of proof regarding ownership of the cash credit in the name of a third party was on the department, which failed to provide convincing material. The court emphasized the importance of the registered deed of gift transferring the amount to the third party's daughter as evidence against the department's claim. No costs were awarded in the reference.
1948 (4) TMI 12 - Allahabad High Court The court concluded that the filing of an appeal subsequent to the filing of an application for review renders the hearing of the review application incompetent. This decision was based on the interpretation of Section 114 and Order 47 of the Civil Procedure Code, as well as relevant judicial precedents emphasizing the avoidance of simultaneous proceedings and conflicting decisions. The court highlighted that a review application should only be heard if the CPC explicitly allows it, even after an appeal has been preferred.
1943 (12) TMI 12 - HIGH COURT OF LAHORE The court held that the purchase and sale of gold constituted an adventure in the nature of trade, making the profits taxable under Section 10 of the Indian Income Tax Act, 1922. The court emphasized the intention to resell at a profit as the key factor, determining the transaction's nature. The decision was unanimous, with all judges concurring.
1942 (4) TMI 12 - CHIEF COURT OF OUDH The appeal was dismissed with costs, upholding the Chief Judge's order. The transfer was deemed null and void due to Balak Ram's lack of authority to execute the deed, and the assignment was voidable against the Official Liquidator.
1940 (10) TMI 12 - ALLAHABAD HIGH COURT The court held that the interest awarded under Section 28 of the Land Acquisition Act was not taxable income but considered compensation for the loss of the right to retain possession of the property. The interest was viewed as damages assessed in terms of interest for the loss of property possession until compensation was received, not arising from any specific source like property or its monetary equivalent. Therefore, the sum of Rs. 12,415 received as interest was not considered income, profits, or gains under the Income-tax Act and was not assessable to tax.
1937 (4) TMI 12 - HIGH COURT OF CALCUTTA The executing Court determined that the opposite party's application for execution was not maintainable under the sanctioned scheme, dismissing it. The Court emphasized that the scheme sanctioned by the Court bound judgment-creditors, highlighting the importance of principles when sanctioning a scheme under the Companies Act. Non-service of notice of the meeting was deemed an irregularity, not affecting the jurisdiction of the Court. The Court held that the order sanctioning the scheme was made with jurisdiction, and any defects were considered irregularities, resulting in the opposite party's application for execution being deemed not maintainable.
1933 (10) TMI 16 - ALLAHABAD HIGH COURT The court ruled in favor of the Income Tax Department on all issues raised in the case. It clarified the application of Sections 22(4) and 23(4) of the Income Tax Act, emphasizing that Section 23(4) can apply even without non-compliance with Section 22(4). The court upheld the legality of issuing a notice of Demand under Section 29 for assessments made under Section 23(4), stating that the Income Tax Officer has the authority for best judgment assessments. Additionally, the court highlighted the importance of meeting the prescribed form and verification requirements for returns under Section 22(2), citing past cases where incomplete returns justified best judgment assessments under Section 23(4).
1927 (2) TMI 15 - HIGH COURT OF CALCUTTA The court held that under the Indian Income Tax Act, 1922, tax is levied on the income of the previous year, not on the income of the assessment year. Therefore, the first issue was decided in favor of the Inland Revenue. Regarding the second issue, the court ruled that interest on mortgage debt, even if not actually paid, is an allowable expenditure under Section 9 of the Act, favoring the assessee. The court ordered the Inland Revenue to pay the assessee's costs as they succeeded on one of the two questions.
1907 (8) TMI 1 - CALCUTTA HIGH COURT The court held that a sale conducted in violation of Section 99 of the Transfer of Property Act is an irregular and voidable sale, not a nullity. Such a sale can be set aside before confirmation through an application under Section 244 of the Civil Procedure Code. After confirmation, it can only be avoided if the applicant proves ignorance of the sale due to fraud or other reasons. The court did not directly address the impact of such a sale on the mortgagor's right of redemption, suggesting it is more relevant in a redemption suit. The case was remanded for further inquiry, with costs to abide by the result.
1970 (3) TMI 181 - Supreme Court The Supreme Court upheld the High Court's decision that Shyam Behari Lal was validly adopted by Gopal Das, despite the lack of proof of the custom of adoption on the day of birth. The court relied on documentary evidence and the long-standing recognition of Shyam Behari Lal as Gopal Das's son. Debi Prasad's delay in filing the suit was deemed unjustified, and the court dismissed the appeal, affirming the validity of the adoption.
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