Advanced Search Options
Case Laws
Showing 81 to 100 of 114 Records
-
1972 (9) TMI 34
" 1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the relief under section 86 was only with reference to the net amount of interest and not on the gross amount ? 2. Whether the method of computation of net interest from tax-free securities adopted by the Income-tax Officer was correct ? "
-
1972 (9) TMI 33
Assessee who is an Income-tax Officer was posted at Ernakulam. In the return of income filed by him he claimed a deduction of Rs. 300 by way of expenses under section 16(v) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "). This was the amount of room rent paid by him in Ernakulam for his stay. According to him this expenditure was met wholly and exclusively in the performance of his duties - " Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that a sum of Rs. 300 being the room rent paid at Ernakulam is not an allowable deduction under section 16(v) of the Income-tax Act, 1961 ? "
-
1972 (9) TMI 32
" Whether, on the facts and in the circumstances of the case, the assessee-shareholders were liable to be assessed in respect of the amounts received from the liquidator of the foreign company under section 4(1)(b)(iii) read with section 14(2)(b) of the Indian Income-tax Act, 1922 ? "
-
1972 (9) TMI 31
" Whether, on the facts and in the circumstances of the case, the remuneration received by Shri Hiralal Maganlal Parikh from the Associated Stone Industries (Kotah) Ltd. for all the three years and from the Rajputana Mining Agencies Pvt. Ltd. for the last year was includible in the income of the Hindu undivided family of which he was the karta ? " - held no
-
1972 (9) TMI 30
Madras Agricultural Income Tax Act - whether the deduction under section 5(k) of the Madras Agricultural Income-tax Act towards the interest paid by the assessee in the previous year on the amounts borrowed and actually spent on the land from which agricultural income is derived should be limited to an amount equivalent to 25% of the net agricultural income or the gross agricultural income
-
1972 (9) TMI 29
Madras Sales of Motor Spirits Taxation Act, 1939 - whether, under section 25 of the Madras Sales of Motor Spirit Taxation Act, 1939, the power of the Board of Revenue could be invoked on an application or it is confined to the Board itself invoking the power suo motu
-
1972 (9) TMI 28
Security deposit forfeited for failure to wholesale contract - Whether Tribunal was right in law in holding that the sum of Rs. 1,18,875 was a trading loss deductible under section 10(1) of the Indian Income-tax Act, 1922, in order to arrive at the profits of the assessee's business for the assessment year 1957-58 ? - Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee's claim was not entertainable under section 10(2Xxv) of the Indian Income-tax Act, 1922
-
1972 (9) TMI 27
Madras Agricultural Income Tax Act - Whether a firm not owning property but deriving agricultural income is liable to agricultural income-tax also whether it can be assessed as tenants-in-common - In this revision, the learned counsel for the petitioner-firm raised the same contention and argued that the four partners were tenants-in-common during the assessment year 1962-63, and that, therefore, they are to be assessed only as provided under section 3(3) of the Act.
-
1972 (9) TMI 26
This rule is directed against the notice under section 17 of the Wealth-tax Act, 1957, by which the petitioner was asked to file a return as the Wealth-tax Officer has reason to believe that net wealth chargeable to tax for the assessment years 1963-64 to 1966-67 has escaped assessment within the meaning of section 17 of the Wealth-tax Act, 1957
-
1972 (9) TMI 25
Whether the discretion of the commissioner as per provision to section 66(7) of Indian Income-tax Act, 1922 privilege to the rate of interest or to the date from which interest or to the date from which interest is payable - interest payable under section 66(7) should from the date of the original order of the Tribunal or the date of the payment of tax if the payment of tax was subsequent to the order of the Tribunal - hold that the petitioners in this case are entitled to interest at 3% on Rs. 2,04,160.31 from the date of the original order of the Tribunal and not from the date of its consequential order passed on May 30, 1961 - The writ petition is therefore, partly allowed and the rule nisi is made absoulte.
-
1972 (9) TMI 24
Estate Duty Act, 1953 - estate of the deceased which was subjected to duty, includes an item of immovable property - Whether the Central Government is bound to accept the offer to convey a property included in the estate of the deceased towards payment of Estate Duty
-
1972 (9) TMI 23
Gift Tax - petitioners' father purported to execute a settlement deed dated April 25, 1963, in their favour. Several items of properties in two different villages were given to the petitioners. This settlement was treated by the Gift-tax Officer as a gift coming within the purview of the Gift-tax Act and an order of assessment was passed after giving notice to the petitioners' father as donor - Whether settlement of ancestral property by father in favour of sons is valid and whether karta of HUF has powers to make settlements
-
1972 (9) TMI 22
This is a petition for the issue of a writ of prohibition prohibiting the respondent from pursuing the reassessment proceedings in pursuance of the notice dated July 6, 1967, issued under section 148 - notice under section 148 served on an erstwhile partner who had retired long ago and was not a partner immediately before the dissolution of the firm was not valid
-
1972 (9) TMI 21
Whether the Tribunal was correct in holding that the assessee-firm was the owner of premises No. 5, Clive Row, Calcutta, and that the provisions of section 9(3) of the Indian Income-tax Act, 1922, had no application in this case - Counsel for the assessee drew our attention to a decision of the Supreme Court in the case of Addanki Narayanappa v. Bhaskara Krishnappa. That case, however, dealt with the problem of inter se relationship between the partners so far as the owning of property was concerned. In our opinion, the said decision cannot be relied on by the assessee in support of the proposition that a firm was not an entity known in law which was capable of owning property - Question answered in the affirmative
-
1972 (9) TMI 20
Whether the surrender, release and yielding up of his life interest by the assessee in the Neville Ness Trust Fund No. 2, created by late Sir Nusserwanjee Nowrosjee Wadia in 1947 amounted to a transfer of assets to Miss Diana Wadia and Master Nusli Wadia within the meaning of section 16(3)(a)(iv) of the Indian Income-tax Act? – Whether the expenditure incurred on the education of the minor children of the assessee out of their income which they derived from the trust made by their grandfather, late Sir Nusserwanjee Nowrosjee Wadia, in 1947 is liable to be added and included in the expenditure of the assessee under section 4 and if so, under which sub-section of section 4 of the Expenditure-tax Act
-
1972 (9) TMI 19
In this petition under article 226 of the Constitution, the petitioner company, which is a private limited company, has challenged the legality of the orders dated August 27, 1965, and September 23, 1965, made by the Income-tax Officer under section 35 of the Income-tax Act, 1922, whereby he rectified in respect of the assessment years 1960-61 and 1961-62 two previous orders made under section 23A of the Act on June 26, 1963 - mistake in levying the super-tax at 37% cannot be rectified under section 35
-
1972 (9) TMI 18
Whether, having regard to the admitted fact that the assessee's method of accounting was mercantile, the interest of Rs. 9,275 for the assessment year 1959-60 was liable to inclusion in the assessee's total income having regard to the provisions of sections 10 and 13 of the Indian Income-tax Act
-
1972 (9) TMI 17
Whether there was any evidence before the Income-tax Appellate Tribunal to justify its conclusion that the firm, made no profit other than those according to its accounts in the procurement and supply of paddy and rice during the relevant period - it is clear that the finding reached by the Tribunal--a finding of fact-- fully supported by the evidence on record. Whether that finding is correct or not is not for the High Court to decide
-
1972 (9) TMI 16
Whether notice issued under section 12(8) of the Orissa Sales Tax Act, 1947 should be quashed on the ground that it does not mention the reasons for the issue of the notice - held that when the Sales Tax Officer is in possession of material which is proposed to be used against the assessee, he must be given an adequate opportunity to explain the materials
-
1972 (9) TMI 15
Person contending that the person to whom he has made the payment was not a non-resident - provisions of s. 30(1A) cannot be applied - we allow this appeal, set aside the order of the Appellate Bench of the Allahabad High Court and remand the case back to that court for deciding the appeal afresh
|