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Showing 41 to 60 of 78 Records
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1968 (11) TMI 38 - BOMBAY HIGH COURT
Expenditure-tax Act - Expenditure of wife and minor children out of their own separate inherited property - includibility of same in husband's expenditure
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1968 (11) TMI 37 - CALCUTTA HIGH COURT
Whether the notice under section 154 of the Income-tax Act, 1961, is invalid and deprives the revenue authorities of jurisdiction under section 35 - mistake being apparent from the record was rectified under section 35 after obtaining no objection from the authorised representative of the assessee-firm - appeal by assessee fail
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1968 (11) TMI 36 - ALLAHABAD HIGH COURT
U.P. Agricultural Income-tax Act, 1948 - On the death of the Raja, the Court of wards entered into the management of the estate on behalf of his widow - Collector took assessment proceedings against the Court of wards for the assessment of the agricultural income of the estate for the year 1359 - held that assessment order u/s 16(3), U.P.Agrl. IT Act, in respect of the agricultural income of the year 1359 Fasli could not be made against the receiver
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1968 (11) TMI 35 - ANDHRA PRADESH HIGH COURT
Estate Duty - properties derived from the father of the deceased under the will - properties had obtained the character of joint family properties of the deceased and his four sons on the date of the death of the deceased - inclusion of these properties in the estate of the deceased as his individual property is not correct
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1968 (11) TMI 34 - MADHYA PRADESH HIGH COURT
Inclusion of value of the properties in the net wealth of the assessee as on the valuation date
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1968 (11) TMI 33 - ANDHRA PRADESH HIGH COURT
Estate Duty Act, 1953 - inclusion of value of the properties in the estate of the deceased u/s. 10 of the Estate Duty Act
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1968 (11) TMI 32 - MADHYA PRADESH HIGH COURT
Assessee claimed that the amount of Rs. 12,000 which he received as allowance in the relevant previous year was received by him as the subordinate chief of the Ruler of the merged State, namely, Khairagarh, and was, therefore, exempt from tax - held that amount received by the assessee was not exempt from income-tax in the hands of the assessee
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1968 (11) TMI 31 - ANDHRA PRADESH HIGH COURT
Estate of assessee was acquired by Govt. - Additional compensation awarded by District Judge - assessability of that enhanced compensation
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1968 (11) TMI 30 - ANDHRA PRADESH HIGH COURT
Managing agency agreement - managing agency remuneration - expenditure - British Indian IT Act
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1968 (11) TMI 29 - MADRAS HIGH COURT
Firm - assessment - Tribunal was not right in holding that the income from July 1, 1959, to the date of dissolution should be assessed as income of the previous year relevant for the asst. yr. 1960-61 and that the firm should be registered for this assessment year - as there was no application for renewal of registration for 1961-62, the ITO was justified in assessing the firm as unregistered firm
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1968 (11) TMI 28 - ANDHRA PRADESH HIGH COURT
Estate Duty Act, 1953 - includibility of property in the estate of the deceased ... ... ... ... ..... ctive transfer of the same in favour of the wife till 1955. There was also no material to show that the wife was in possession and enjoyment of the interest realised therefrom. For the foregoing reasons we are of the opinion that the properties, viz., N. G. P. notes of the value of Rs. 21,249 and the house properties bearing Nos. 1234, 1235 and 1238 at Pioneer Bazar, Bolarum, were correctly included in the estate under section 10 of the Act. In the result, question No. 1 is answered in the affirmative and against the assessee. Under question No. 2 so far as house property bearing No. 85, Nallagunta is concerned, it is answered in the negative and in favour of the assessee. So far as the other properties, N. G. P. notes of the value of Rs. 21,249 and house properties bearing Nos. 1234, 1235 and 1238 at Pioneer Bazar, Bolarum are concerned, the question is answered in the affirmative and against the assessee. In the circumstances, we make no order as to costs in this reference.
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1968 (11) TMI 27 - ANDHRA PRADESH HIGH COURT
Whether the allotment of the properties to the adopted son under the deed constitutes a `gift` within the meaning of the GT Act - Held, yes - Whether the income from the properties in question can be included in the total income of the applicant u/s 16(3)(a)(iv) of the IT Act - Held, yes
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1968 (11) TMI 26 - KARNATAKA HIGH COURT
Best judgment assessment under section 13 of the Indian Income-tax Act, 1922, in one case and under the proviso to sub-section (1) of section 145 of the Income-tax Act, 1961, in the other - rejection of accounts produced by the assessee being based merely on method of valuation of stock - whether assessment was justified
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1968 (11) TMI 25 - CALCUTTA HIGH COURT
Income of the trust - applicability of maximum rate in terms of first proviso to s. 41(1) of the IT Act, 1922
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1968 (11) TMI 24 - MADRAS HIGH COURT
Gift tax - transfer of shares - inclusion of total value of the shares ... ... ... ... ..... orce as between him and his daughter, notwithstanding that, vis-a-vis the company, he continued to be the holder of the shares in the absence of registration of the transfer. There remains the question whether what passed under the second settlement deed was only a life interest of the assessee in the shares. This aspect we have already dealt with. In our opinion, the first settlement deed, in so far as it retained in the assessee a life interest in the shares, cannot be regarded as being in the form requisite for a valid transfer of shares. Secondly, we think, by consent of all the parties, the second document was executed, the assessee s daughter having surrendered whatever interest she had in the shares under the first document. In the circumstances, therefore, the transfer under the 1959 settlement deed was of the entire interest in the shares to the assessee s daughter. We answer both the questions under reference against the assessee with costs. Counsel s fee, Rs. 250.
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1968 (11) TMI 23 - ANDHRA PRADESH HIGH COURT
Estate Duty Act, 1953 - Whether, on the facts and in the circumstances of the case, the estate duty authorities had any material to come to the conclusion that the donees had not immediately assumed possession of the properties and thenceforward retained the same to the entire exclusion of the deceased and that the provision of section 10 were attracted - Held, yes
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1968 (11) TMI 22 - KARNATAKA HIGH COURT
Whether proceeding could be commenced under section 148 of the new Act in respect of income which had escaped assessment in respect of the assessment year 1960-61 - Held, yes
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1968 (11) TMI 21 - ALLAHABAD HIGH COURT
Petition under article 226 of the Constitution is directed against proceedings for the recovery of income-tax dues - validity of proceedings
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1968 (11) TMI 20 - KARNATAKA HIGH COURT
Proceedings under section 147 - was right in law in holding that Appellate Assistant Commissioner conferred no jurisdiction on the Income-tax Officer to initiate proceedings under section 147 - Tribunal was right in holding that those proceedings under section 147 were barred by time
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1968 (11) TMI 19 - ALLAHABAD HIGH COURT
Firm - renewal of registration under section 26A ... ... ... ... ..... strument of partnership was registered for the year 1944-45. At that time Girdharilal was alive. Now Girdharilal is dead, and his share is represented by his son, Hari Shanker. The Tribunal rightly observed that where a partner dies and his son steps into his shoes, the constitution of the firm is necessarily changed. Under such circumstances, it became impossible for the present partners to certify as required by clause (2) in the prescribed form. We do not know if the applicants gave the necessary certificate in the instant case. If they did, the certificate would be false. If they did not, they did not comply with the requirement of the form under rule 6. In either case, there was material defect in the application for renewal. The application for renewal was, therefore, rightly dismissed. We answer the question referred to the court in the affirmative, and against the assessee. The assessee shall pay the Commissioner of Incometax, U.P., Rs. 200 as costs of this reference.
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