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Showing 61 to 80 of 85 Records

• 1972 (1) TMI 26 - RAJASTHAN HIGH COURT
  

  Applications under section 66(2) of the Indian Income-tax Act, 1922, were filed by the Commissioner of Income-tax, Rajasthan, in this court on January 18, 1966, and March 30, 1966, respectively, against His Highness Maharaja Shri Sawai Man Singh of Jaipur. During the pendency of the applications the respondent died on June 24, 1970 – held that a pending reference under s. 66(1) does not abate on the assessee's death

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• 1972 (1) TMI 25 - ALLAHABAD HIGH COURT
  

  Member of Hindu Joint Family becomes partner with his separate assets with the karta of the joint family - partnership is entered into between the karta of a Hindu undivided family and an undivided member of the family – held that validity of the partnership cannot be questioned where the undivided member brings in his separate property - Tribunal was right in holding that the partnership formed by the karta of the Hindu undivided family, with an undivided junior member of the same family, quoad his separate property was valid in law and, therefore, entitled to registration under the Income-tax Act

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• 1972 (1) TMI 24 - ALLAHABAD HIGH COURT
  

  Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee's brick kiln business was not a cottage industry within the meaning of section 14(3)(i)(b) of the Indian Income-tax Act. 1922, as it stood after the amendment in 1960 – held that brick kilns run by the could not be treated as cottage industry - Question answered in the affirmative

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• 1972 (1) TMI 23 - KARNATAKA HIGH COURT
  

  Whether on the facts and in the circumstances of the case and on a proper interpretation of section 16(3) of the Indian Income-tax Act, 1922, and of section 64 of the Income-tax Act, 1961 the share of the losses of the wife of the assessee in registered firms where the assessee is also a partner could be set off against the income of the assessee while computing the total income – Question is answered in the affirmative and in favour of the assessee

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• 1972 (1) TMI 22 - KERALA HIGH COURT
  

  Non-payment of advance tax under s. 18A of Indian Income-tax Act, 1922 - Levy of a penalty on the assessee under the provisions of section 271(1)(c) of the income-tax Act, 1961– legality and validity

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• 1972 (1) TMI 21 - MADRAS HIGH COURT
  

  Whether the wealth-tax levied on the legal representative of the deceased who is the assessee, is in accordance with law - Tribunal is justified in coming to the conclusion that the assessee acquired the entire jewels of Rs. 1,00,000 possessed by her brother at the time of his death - As the assessee has not produced any acceptable evidence to substantiate her case that her brother left jewels worth only Rs. 3,350 and that she inherited only those jewels, and to displace the evidentiary value of the final orders passed under the Wealth-tax Act against the deceased and under the Estate Duty Act against the assessee herself, assessments made under the Wealth-tax Act is upheld - assessee is in a position to produce any acceptable material to support her plea that she in fact inherited only jewels worth about Rs. 3,350 from the deceased, she is not estopped in putting forward that plea in the subsequent years

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• 1972 (1) TMI 20 - KERALA HIGH COURT
  

  Conversion of proprietory concern into a partnership firm - Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the gift in question was exempt under section 5(1)(xiv) of the Gift-tax Act, 1958 – Held, yes

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• 1972 (1) TMI 19 - MADRAS HIGH COURT
  

  Property acquired by government - Compensation from govt. with interest - whether the interest is to be apportioned in respect of the years in which it accrued - method of accounting of the assessee being mercantile, the accrual of interest will have to be spread over the year between the date of acquisition and the date of actual payment

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• 1972 (1) TMI 18 - PATNA HIGH COURT
  

  An application was filed praying for issue of summons on the Income-tax Officer, requiring him to produce certain documents as mentioned in the application. This application has been rejected by the learned subordinate judge on the ground that in view of certain provisions of the Income-tax Act, he could not direct the production of those documents – held that After s. 137 is repealed there is no bar in the way of a civil court in directing the production of documents which were filed before an Income-tax Officer

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• 1972 (1) TMI 17 - MADHYA PRADESH HIGH COURT
  

  Tribunal rejected the first application of the assessee for referring the case to the High Court on the ground that it was barred by time because the remittance of Rs. 100 was not received within time. It was also held that this application for reference was not sufficient for referring all the questions asked for in the application as they related to two cross-appeals and that a second application for reference was also necessary - held that Tribunal was wrong in asking the petitioner to make a choice and also rejecting the first application as time-barred

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• 1972 (1) TMI 16 - ORISSA HIGH COURT
  

  Under the Act the Board has a fund. There are various sources of income constituting the fund. One of the sources of income is earning profits by compilation, publication, printing and sale of text books. The profits so earned enter into the Board fund. The income and expenditure of the Board is controlled and the entire expenditure is to be directed towards development and expansion of educational purposes. Even if there is some surplus it is not appropriated by others but remains as a part of the sinking fund to be devoted to the cause of education as and when necessary. This being the objective and there being various ways of control of the income and expenditure, the Board of Secondary Education cannot be said to be existing for purposes of profits. It exists solely for purposes of education. The income of the Board cannot, therefore, be computed in the total income of the previous year under section 10(22) of the Income-tax Act, 1961.

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• 1972 (1) TMI 15 - MADRAS HIGH COURT
  

  Reference to HC - Whether the business carried on by U. G. Krishnaswami Naidu was his own or whether it was the business of Ramaswami Naidu - question of benami was one of fact and it cannot be questioned before the High Court

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• 1972 (1) TMI 14 - KERALA HIGH COURT
  

  Whether, the Tribunal was right in holding that the deduction under section 80E has to be worked out on the adjusted total income of the year, after setting off the losses brought forward from the preceding year – question is answered in the negative, that is in favour of the assessee and against the department

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• 1972 (1) TMI 13 - MADRAS HIGH COURT
  

  Right to receive dividends on shares – it is the “property” of assessee and cannot be treated as “annuity” – therefore, it is includible in "assets" for wealth-tax purposes

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• 1972 (1) TMI 12 - KERALA HIGH COURT
  

  Whether Appellate Tribunal was legally correct in holding that the accumulated profits (the purpose of distribution of dividends) will not include current profits for the purpose of section 2(6A) of the Indian Income-tax Act, 1922 - question is answered in affirmitive in favour of assessee

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• 1972 (1) TMI 11 - DELHI HIGH COURT
  

  Imposition of penalty for delayed payment of cess and purchase tax levied under the U.P. Sugarcane Cess Act, 1956 – held that imposition of penalty was on account of failure on the part of the assessee to comply with a statutory obligation and as such any payment made by the assessee was not incidental to its business nor was there any commercial expediency for its payment – therefore amount was not an allowable expenditure under section 10(2)(xv)

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• 1972 (1) TMI 10 - MADRAS HIGH COURT
  

  Assessee, a partner in a registered firm appointed a person for looking after his interests in the partnership – assessee derived share income - from the share income received by him, the assessee claimed as deduction under section 10(2)(xv) of the Income-tax Act, 1922, of the salary paid - even though the share income was arrived at after giving deductions under s. 23(5)(a), such expenditure is allowable under section 10(2)(xv)

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• 1972 (1) TMI 9 - MADRAS HIGH COURT
  

  Estate Duty Act, 1953 - scope and effect of conversion of self-acquired property into joint family property

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• 1972 (1) TMI 8 - MADRAS HIGH COURT
  

  Borrowed Capital – difference in interest paid and interest received on lending - entire interest paid is deductible under section 10(2)(iii) of Indian Income-tax Act, 1922

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• 1972 (1) TMI 7 - MADRAS HIGH COURT
  

  Estate Duty Act, 1953 - Whether Tribunal was right in holding that the value of the insurance policies taken on the life of the deceased and nominated in favour of the wife of the deceased could not be included in the estate of the deceased

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