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Showing 61 to 80 of 86 Records

• 1970 (11) TMI 26 - ANDHRA PRADESH HIGH COURT
  

  Revenue challenging the maintainability of this application on the ground that no reference application under section 66 was filed by the petitioner before the Tribunal - revenue's contention that this application by the assessee under section 66(2) of the Act without preferring an application under section 66(1) and obtaining a refusal thereon, is not maintainable, is acceptable

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• 1970 (11) TMI 25 - PUNJAB AND HARYANA HIGH COURT
  

  Smuggling business - Whether loss arising from the confiscation of the currency notes was an allowable deduction under section 10(1) of the Income-tax Act, 1922

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• 1970 (11) TMI 24 - PUNJAB AND HARYANA HIGH COURT
  

  Amount given as fees to advocate for conducting writ petition - held that such expenditure is allowable expenditure as it was incurred wholly for business - further amount spend for replacement of petrol engines by diesel engines in buses is also held as revenue expenditure

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• 1970 (11) TMI 23 - GUJARAT HIGH COURT
  

  Draft of the statement of case indicating questions to be referred, placed before parties for their suggestion, by tribunal - held that it does not amount to final decision on question to be referred - whether application can be made to High Court to direct reference of further questions before reference is filed in court - No

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• 1970 (11) TMI 22 - ALLAHABAD HIGH COURT
  

  Petition dismissed on groud of irregularities in presentation of petition - - whether such petition can be alllowed on review - since review was not due to any error apparent, review is not permitted

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• 1970 (11) TMI 21 - PATNA HIGH COURT
  

  Baddebt - claim for deduction

  
  
  ... ...
  ... ... ..... ing business (3) that the sum received by the assessee in excess of the cost price was therefore income from business and was assessable to tax. Here also the true effect of the finding of the Tribunal being that the sum of Rs. 2,25,000 was part of the debt due to the assessee from Bihar Agents Private Ltd., in respect of loans advanced in the ordinary course of money-lending business, and the debit of Rs. 2,25,000 to Bihar Glass Factory and the credit of the said amount to Bihar Agents Private Ltd., being a bona fide transaction entered into by the assessee in the ordinary course of money-lending business, it follows that the assessee was entitled, in the circumstances and in view of the other findings, to the allowance of Rs. 1,06,834 as bad debt. In the result, the question must be answered in the affirmative and in favour of the assessee. The petitioner will pay the costs of this reference. Hearing fee Rs. 250. G. N. PRASAD J.-I agree. Question answered in the affirmative

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• 1970 (11) TMI 20 - ALLAHABAD HIGH COURT
  

  Company claimed deduction under section 10(2)(v)of the amount expended on replacement of worn out cotton bowls in calendering machines - claim was disallowed by the Income-tax Officer on the ground that this expenditure was not for "current repairs" - held that replacement of cotton bowls is covered by the expression "current repairs"

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• 1970 (11) TMI 19 - DELHI HIGH COURT
  

  Whether the managing agency remuneration was the income of B. N. Bhaskar earned in his individual capacity or the income of the Hindu undivided family of which he was the karta

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• 1970 (11) TMI 18 - GUJARAT HIGH COURT
  

  Expenditure Tax Act, 1957 - liability of the assessee for the expenditure-tax - ssessee is a Hindu undivided family - smaller Hindu undivided families came into existence on partition of bigger HUF - whether expenditure incurred by the smaller HUF are liable to be included in the taxable expenditure of the bigger HUF

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• 1970 (11) TMI 17 - CALCUTTA HIGH COURT
  

  Whether the order in appeals against the order of assessment can be revised by the Tribunal - earlier order of the Tribunal in appeal against order u/s 23(4) was merely consequential, no decision on merits - on the appellate order u/s 27 being reversed the order in appeal against the order for assessment must also be revised - question is answered in affirmitive

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• 1970 (11) TMI 16 - CALCUTTA HIGH COURT
  

  Goods seized by Custom authorities - income-tax authorities in served a warrant of authorisation under section 132 - held that there cannot be an order under section 132 in respect of the goods or papers which were in the custody of a department of the Government under a legal authority i.e., the Customs authorities

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• 1970 (11) TMI 15 - ALLAHABAD HIGH COURT
  

  Assesee, a dealer in motor trucks has a factory for repairing and servicing trucks sold by it - claim for depreciation on the site where building is erected - held that depreciation is not allowable on cost of land but it is allowable only on the cost of superstructure

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• 1970 (11) TMI 14 - PUNJAB AND HARYANA HIGH COURT
  

  Change of law - Act of 1922 - Act of 1961 - return filed prior to commencement of IT ACT 1961 - validity of penalty proceedings

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• 1970 (11) TMI 13 - ALLAHABAD HIGH COURT
  

  Writ petition challenging the attachment and sale proceedings - whether claim petition can be filed through a writ in respect of property attached for realising income-tax and penalty due from assessee's father

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• 1970 (11) TMI 12 - BOMBAY HIGH COURT
  

  Rectification on the ground that unearned income had escaped special surcharge would not come within the ambit of section 35 of Indian Income-tax Act, 1922

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• 1970 (11) TMI 11 - KERALA HIGH COURT
  

  Estate Duty Act, 1953 - Gift(share in business) by deceased before death - includibility of profits of business from the shares gifted in donor's estate

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• 1970 (11) TMI 10 - KARNATAKA HIGH COURT
  

  Mysore Agricultural Income Tax Act - Finalisation of Provisional Assessment

  
  
  ... ...
  ... ... ..... ovisionally at the appropriate rate on what he admits as his taxable income, subject to the benefit of the allowances under sub-section (2) and that the section does not permit an enquiry to be made whether the total income returned by the assessee exceeds the amount admitted by him, nor whether the allowances or deductions claimed are admissible. The scheme of section 20(1) of the Act being similar to section 141 of the Income-tax Act, 1961, the assessing authority has power only to call upon an assessee to pay tax provisionally on what he admits as his taxable income. The 4th respondent in making the provisional assessment order has exceeded his jurisdiction in calling upon the petitioner to pay tax on income not admitted. Therefore, the impugned provisional assessment order, the demand based thereon and the recovery proceedings are liable to be set aside and accordingly they are quashed. The petitioner is entitled to the costs of this writ petition. Advocate s fee Rs. 100.

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• 1970 (11) TMI 9 - PUNJAB AND HARYANA HIGH COURT
  

  Assessee, a contractor used to undertake the construction of building works - includibility f cost of materials received by him in applying the flat rate

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• 1970 (11) TMI 8 - CALCUTTA HIGH COURT
  

  Firm - registration - business of firm not carried on in conformity with terms and conditions of the partnership deed - registration not granted

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• 1970 (11) TMI 7 - DELHI HIGH COURT
  

  Land taken on lease but not taken possession - compensation paid to owner of land - payment was not an expenditure wholly and exclusively for business - so it must be treated as capital expenditure

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