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Income Tax - Case Laws

Showing 102641 to 102660 of 105475 Records

  • 1967 (4) TMI 12

    Assessee received compensation for the property - interest on the amount of compensation from the date of the notification for acquisition - Interest received by the assessee was properly held taxable....... + More

  • 1967 (4) TMI 11

    Credit entries - proceedings for reassessment commenced under s. 34 - there was evidence before the Tribunal to hold that the credit of ₹ 55,293 in the account of the wife of the assessee did not represent the sale proceeds of her gold ornaments - assessee s appeal allowed....... + More

  • 1967 (4) TMI 10

    Claim of the assessee that he was a non-resident during the previous year relevant to the asst. yr. 1945-46 - Tribunal was justified in holding that the assessee was a resident in British India during the relevant previous year - revenue s appeal allowed....... + More

  • 1967 (4) TMI 9

    Held that properties which had been set apart by the commissioner for the performance of sheba and worship of the deities formed part of the residuary estate of the testator and they were not dedicated for charitable purposes - question was rightly answered by the High Court against the assessee....... + More

  • 1967 (4) TMI 8

    Enhancing the assessment of assessee - since the ITO has not applied his mind to the question of taxability or non-taxability of the amount of Rs. 5,85,000 received as remittance, the AAC had no jurisdiction to enhance the taxable income of the assessee....... + More

  • 1967 (4) TMI 7

    HUF - business of money-lending, and maintains its accounts on cash basis - Whether the receipt of Encumbered Estate Bonds during the previous year 1947-48 amounted to receipt of cash during that previous year and not during the previous year 1948-49 when the bonds were in fact sold at less than their face value - Held, yes - assessee s appeal dismissed....... + More

  • 1967 (4) TMI 6

    Acquisition of the undertaking of the company - company was paid Rs. 15,50,000 as compensation for loss of its undertaking, assets and documents - tribunal was justified in bringing the amount as taxable income of the company in the previous year - profits received by the company the State of Mysore is, by virtue of s. 26(2) of the IT Act, liable to be taxed........ + More

  • 1967 (4) TMI 4

    Transfer of the undertaking - Whether the workmen of the undertaking became entitled to retrenchment compensation - Held, no - amount claimed as a permissible allowance by the assessee in its profit and loss account cannot, be regarded as properly admissible either u/s. 10(1) or s. 10(2)(xv) - appeal of revenue is allowed and the order passed by the High Court is set aside........ + More

  • 1967 (4) TMI 3

    Whether the department was entitled to call upon the respondent to make good the sum as the payments did not contravene the notice u/s. 46(5A) - A person to whom the notice has been issued has only to object that the sum demanded or part thereof is not due to the assessee or that he does not hold any money on account of the assessee - Appeal of department dismissed....... + More

  • 1967 (4) TMI 2

    Claim for exemption from tax u/s. 15B - Whether, on the facts and in the circumstances of the case, the assessee is entitled to claim deduction u/s. 15B in respect of the donation paid to the Agastyar Trust - Held, No....... + More

  • 1967 (4) TMI 1

    Whether the asst. in pursuance of the notice issued u/s 34 is a valid asst. - ITO was legally justified in ignoring the 1st notice issued u/s 34 & the return filed by the assessee in response to that notice and consequently the asst. made in pursuance of the 2nd notice issued on Feb. 12, 1958, was a valid asst.- question of law referred to the H. C. should be answered in the affirmative & against the assessee - Appeal of revenue is allowe....... + More

  • 1967 (3) TMI 114

    ... ...
    ... ... erstood by Crown and subject alike, surely they should seek statutory powers to do so and not, by an internal change of practice, try to alter well-settled law. I would allow this appeal and restore the decision of the commissioners. Appeal allowed.

  • 1967 (3) TMI 110

    ... ...
    ... ... income is capable of being included in the assessment of the assessee. In the result, therefore, our answer to the question referred to us must be in the negative. The department will pay the costs of the assessee. Question answered in the negative.

  • 1967 (3) TMI 104

    ... ...
    ... ... y commercial expediency and were allowable expenditure. In the result, we answer the question referred to this court in the negative. The assessee is entitled to costs. Certified for two counsel. MASUD J.- I agree. Question answered in the negative.

  • 1967 (3) TMI 46

    Firm - default in payment of the penalty - further imposition of penalty - validity....... + More

  • 1967 (3) TMI 45

    Assessee, HUF - income from the business could be not be treated as the income of the HUF - no justification for making a joint assessment of the share incomes of C and his sons. R & O, along with the income from the property received by the HUF....... + More

  • 1967 (3) TMI 44

    Order of the assessment was set aside - demand of advance tax was not valid - If the assessment of that total income has been set aside, it is not open to the ITO to consider that total income for the purpose of computing the amount of advance tax....... + More

  • 1967 (3) TMI 43

    Carry Forward - order of the Income-tax Officer on the return filed by the assessee for the assessment year 1956-57 need not be regarded as an assessment completed under sub-section (1) of section 23, but should be read as amounting to computation of loss for the said year....... + More

  • 1967 (3) TMI 42

    Madras Agricultural Income Tax Act - Lands purchased in name of wife and minor children and consideration was provided by assessee - U/S 9(1)income from land was could be assessed in the hand of the assessee....... + More

  • 1967 (3) TMI 41

    Shares held by karta and coparceners of HUF using family funds loan to joint family by company - loan given could not be assessed as dividend income of family....... + More

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