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Showing 101 to 113 of 113 Records
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1971 (9) TMI 13
During pendency of proceedings under s. 34, Income-tax Officer could not issue any fresh notice under section 148
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1971 (9) TMI 12
Whether in determining the break up value of the shares held by the assessee in Messrs. Indra Singh and Sons Pvt. Ltd., the Estimated tax liability amounts should have been deducted from the assets shown in the balance-sheet of the said company - question is answered in favour of the department
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1971 (9) TMI 11
Reassessment Proceedings - assessing officer has no information as to fact or law after the original assessment - assessing officer had no jurisdiction to initiate proceedings under s. 34(1)(b) - question is answered in favour of the assessee
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1971 (9) TMI 10
Whether notice should be given while revising the assessment by the Commissioner - Appeals are dismissed as being not maintainable, as the certificates on the basis of which those appeals were brought to this court are not in accordance with law
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1971 (9) TMI 9
Income-tax Officer had no jurisdiction to revise the assessment - jurisdiction of ITO's to reopen an assessment u/s 34 depends upon issuing of a valid notice - Appeal is dismissed as not maintainable
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1971 (9) TMI 8
Business Expenditure - Whether the income of the assessee trust is exempt under section 4(3)(i) - To serve a charitable purpose, it is not necessary that the object should be to the benefit of whole of the mankind or all persons in a country or State
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1971 (9) TMI 7
Whether, on a proper construction of the deed of settlement, the assessee has any interest in the corpus of the deed of settlement - Whetherthe 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) of the Act - we answer those questions in favour of the department
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1971 (9) TMI 6
Notice for reassessment - shares held by the karta could be considered to be the shares held by the family and the loans to the family could fall within the definition of "dividend" in clause(e) of s. 2(6A) Appeal of revenue are dismissed as being not maintainable
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1971 (9) TMI 5
Sales tax was paid by husband - assessee succeeded to this business on the death of her husband - taxability of refund of sales tax -There is no provision in the act making a successor in business or legal representative of an assessee to whom an allowance had already been granted, liable to tax u/s 41(1) - revenue appeal dismissed
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1971 (9) TMI 4
Dividends were declared out of profits for the year ending on 30th June, 1960 - Whether, in view of section 19(4) of the Finance Act, 1959, there was any, obligation to deduct tax under section 18(3D) and (3E) from the dividends declared on February 9, 1960, and May 30, 1960, so as to justify the order under section 18(7) of the Income-tax Act, 1922, on failure to do so - question is answered in favour of assessee
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1971 (9) TMI 3
Whether the finding of the Tribunal that profit from sale of shares was revenue in nature can be questioned before the High Court - Instead of the answer returned by the High Court the question is answered in favour of the revenue
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1971 (9) TMI 2
Assessee's property vested in Custodian of Evacuee Property in Pakistan, whether the assessee can said to be the owner of such property and income from it could be assessed in his hands - assessee is not the owner, because he cannot exercise any rights in that property except with the consent of the Custodian - held that the assessee was not the owner of Nedous Hotel during the relevant assessment years for the purpose of section 9 of the Act. Hence, these appeals fail and they are dismissed
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1971 (9) TMI 1
Whether Tribunal rightly excluded the sum of ₹ 61,656 from being assessed as an extra dividend income of the assessee - High Court erred in answering the question referred to it in the affirmative and in favour of the assessee - question is answered in the negative and in favour of the department
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