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Showing 41 to 60 of 72 Records
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1967 (1) TMI 32
Service of Notice ... ... ... ... ..... service first of all, there should be an order of the authority concerned (here the Income-tax Officer) directing the service of notice under rule 20, and then only the notice may be served by affixture both at the place of residence of the assessee and at a conspicuous part of the office of the Income-tax Officer. The assessee had at no stage urged that there was an order of the Income-tax Officer to effect service on him under Order 5, rule 20, Code of Civil Procedure nor did he make any attempt to elicit the necessary evidence by cross-examining the process-server or any other competent witness. Hence, Mr. Tarkeshwar Prasad s reliance on rule 20 of Order 5 is futile. For these reasons the questions are answered as follows Question No. 1 This is answered in the affirmative. The notice was properly served on the assessee on the 29th March, 1958. Question No. 2 This is answered in the negative. The assessee must pay costs of Rs. 200 to the respondents. U. N. SINHA.-I agree.
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1967 (1) TMI 31
Assessee a company, fixed remuneration of two directors, who were also share holders of the company by passing resolution - in view of the provisions of s. 10(4A) the remuneration allowed by the Tribunal to directors is not an allowable business expenditure u/s 10(2)(xv)
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1967 (1) TMI 30
Mysore Income Tax Act - Assets distributed on partition of HUF. Three coparceners and widow daughter of karta firmed a partnership and carry on the same business. The assessee (undivided family) claimed exemption u/s 25(3) of the Act contending there is a discontinuance of the business originally carried on by the undivided family - assessee is entitled to exemption
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1967 (1) TMI 29
Statutory allowance - foreign income - third proviso to s. 4(1) of Indian Income Tax Act, 1922
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1967 (1) TMI 28
Assessee received Rs. 20,000 as arbitration fee - sum received was a casual and non-recurring item of income which cannot be related to the exercise of any profession, vocation or occupation by the assessee- sum of Rs. 20,000 received by the assessee as remuneration was not revenue income
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1967 (1) TMI 27
Whether the assessee is entitled to the allowance of the entire expenses incurred u/s 10, on foot that no part of the overhead expenses and interest on borrowed capital is attributable to Govt. securities under the Explanation to section 8 - Held, yes
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1967 (1) TMI 26
Reassessment Of Firm - whether the share income from a firm could be assessed in the partner`s hands prior to the completion of the firm`s assessment - held, yes
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1967 (1) TMI 25
Remuneration paid to the directors - in fact it was the HUF and not the company, which was in existence. Any expenses incurred over the members of the HUF could not be added to the expenditure made wholly and exclusively for the purpose of the business of the company - hence it is not a permissible deduction u/s 10(2)(xv)
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1967 (1) TMI 24
Whether, in the facts and circumstances of this case, the sum of Rs. 7,89,611 shown in the balance-sheet as asset and said to have been paid as bonus to the employees for the year 1952-53 was a permissible deduction under the Wealth-tax Act - Held, yes
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1967 (1) TMI 23
IT Act 1961 - IT Act 1922 - petitioner filed a return of his income in consequence of a notice under s. 22(2) of the IT Act, 1922 - ITO issued a notice u/s 148 of the IT Act, 1961, for the asst. yr. 1961-62 - held that notice u/s 148 and entire proceedings taken by ITO consequent to that notice were without jurisdiction
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1967 (1) TMI 22
Application For Rectification - Share Income - whether, Commissioner rightly declined to interfere with order of Income-tax Officer
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1967 (1) TMI 21
Capital recipt - contract cannot possibly be treated as a trading contract entered into in the ordinary course of business and must be taken to be a source which was certainly of an enduring value, which yielded income to the assessee - compensation in respect thereof must be treated as capital receipt
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1967 (1) TMI 20
On the basis of High Court`s order the assessment of assessee were modified and refund was given - assessee claimed interest on the entire refund amount - he was granted interest on refund for the period which was subject matter of reference before the High Court - against this the assessee filed a writ petition - Petition dismissed
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1967 (1) TMI 19
Assessee received payment of Rs. 32,218 in the relevant previous year on account of difference in rates in respect of goods supplied during the war years - Where a receipt is correlated to and arises out of commercial transactions between the parties, the receipt related back to the year of account when the transaction took place, irrespective of the year when the money was received
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1967 (1) TMI 18
Development rebate - In a hiring out business, the installation of a plant or machinery can only be by placing it in position for service or sue - the moment the assessee placed the kolhus in his show room and actually hired them out, the statutory requirement for claiming development rebate would be satisfied
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1967 (1) TMI 17
Foreign income - there is no prohibition or restriction in force throughout the period subsequent to the assessment years - there is no proof that the assessee has utilised his share of income for the two years or could have utilised the same for any expenditure actually incurred in Ceylon - there is no constructive remittance into the taxable territories of any part of his foreign income - explanation to section 45 is therefore not attracted
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1967 (1) TMI 16
Whether the Commissioner, in issuing the authorisations, can be said to have entertained such reasonable belief as is required by the first sub-s. of s. 132 - no case has been made out of any failure to comply with the provisions of s. 132 or of any disobedience or disregard thereof either in the matter of the issue of authorisations for search or seizure or in the matter of actual searches and seizures of documents
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1967 (1) TMI 15
Ceylon Income Tax Ordinance, 1932 - identical amount will be assessed in each country by applying its own laws - Then that country which charges income in excess of the amount allowed is required to allow an abatement 'equal to the lower of the amounts of tax attributable to such excess in either country - 'tax attributable' in the articles is the gross tax and not the tax arrived at after deducting the reliefs permissible under the laws of a particular country
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1967 (1) TMI 14
Whether an estimate of income and tax made and sent on a due date for payment of advance tax instalment will entitle the assessee to pay the same in accordance with that estimate and not as per demand of advance tax - held, no
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1967 (1) TMI 13
Whether on a proper construction of the deed of settlement the assessee has any interest in the corpus of the deed of settlement - held, no - whether the right of the assessee derived under the deed of settlement is exempt from wealth-tax by virtue of the provisions of section 2(e)(iv) - held yes
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