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Showing 21 to 40 of 44 Records

• 1970 (5) TMI 24 - CALCUTTA HIGH COURT
  

  Application under article 226 of the Constitution for the issue of appropriate writs for cancelling and/or quashing certain alleged decisions by the respondent-Income-tax Officer, and prohibiting the said respondent from proceeding to make any assessment on the petitioner - Whether voluntary disclosure of income operates as exemption from tax for period covered by disclosure - It is for it to explain to the Income-tax Officer each source of income disclosed for each year on which tax has been paid and the Income-tax Officer is under an obligation to exempt such items of income from the assessment of the petitioner for those respective years

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• 1970 (5) TMI 23 - CALCUTTA HIGH COURT
  

  Whether rectification can be made under Income-tax Act, 1961 when assessment of a partner was under Indian Income-tax Act, 1922 - whether the Income-tax Officer had any power at all to make the order

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• 1970 (5) TMI 22 - DELHI HIGH COURT
  

  Rejection of accounts - sufficient material for rejecting the accounts - Whether there was any material, data or evidence before the Tribunal to sustain the addition on estimated basis - held, yes - no question of law arise out of the Tribunal's order - application fails and is dismissed

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• 1970 (5) TMI 21 - CALCUTTA HIGH COURT
  

  Valuation of an asset under section 7(2) - tussle between the balance-sheet value and the written down value

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• 1970 (5) TMI 20 - CALCUTTA HIGH COURT
  

  Whether on a proper construction of the indenture of lease the Tribunal was right in holding that the entire rental income from premies should be assessed under section 12 of the Income-tax Act, 1922 - If the property remained in possession of the seller even after the sale, whether the seller is liable to assessment under section 9

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• 1970 (5) TMI 19 - ALLAHABAD HIGH COURT
  

  Assessee (manufacturer) due to the change in method of distribution of yarn, received the wholesale price from wholesale dealer and distributed to quotaholder his margin of profit - taxability of a receipt - taxable income

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• 1970 (5) TMI 18 - ALLAHABAD HIGH COURT
  

  One partnership in an unregistered firm files appeals against assessment orders - another partner in same firm also files appeals before the AAC against same orders - Whether the appeals filed by Kishorilal Khemka before the Appellate Assistant Commissioner from the assessment orders made in the case of the Bharat firm, which had become the subject-matter of appeals by another partner, Joti Bhushan Gupta, and whose appeals were earlier disposed of by the Appellate Assistant Commissioner, were competent

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• 1970 (5) TMI 17 - DELHI HIGH COURT
  

  Trust - object of trust - claim for exemption u/s 4(3)(i), Indian Income Tax Act, 1922

  
  
  ... ...
  ... ... ..... e members. One of the questions, which arose in that case, was whether the income of the industrial and commercial concerns started by the Sabha was exempt under section 4(3)(i) of the Act. The Allahabad High Court answered this question in the affirmative. It was held that the starting of industrial and commercial concerns by the sabha was in furtherance of its objects of a religious and charitable nature. The learned judges in this context referred to the history of the Sabha and the previous litigation to which the assessee was a party. The above-mentioned cases were decided on their own facts. In any event, so far as the present case is concerned, as mentioned earlier, its facts are much more akin to those of East India Industries (Madras) P. Ltd. v. Commissioner of Income-tax. We would, therefore, answer the question, referred to this court in the six cases, in the negative. The parties, in the circumstances, shall bear their own costs. Question answered in the negative.

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• 1970 (5) TMI 16 - PUNJAB AND HARYANA HIGH COURT
  

  Garnishee Proceedings - recovery of tax - tax recovery certificate - notice is issued to the debtor of defaulter for making payments to the Government - validity of notice

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• 1970 (5) TMI 15 - ALLAHABAD HIGH COURT
  

  Partners made gift to their wives who in turn advanced to the firm - Tribunal was not justified in holding that the gifts were to the detriment of the interest of the respective minors and not within reasonable limits in view of the provisions of the Hindu Minority and Guardianship Act, 1956 - Tribunal was not justified in holding that the gifts were void at law

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• 1970 (5) TMI 14 - ALLAHABAD HIGH COURT
  

  New firm takes over the business and continues the business - application for renewal of registration - whether two firms must be considered as separate and distinct from each other

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• 1970 (5) TMI 13 - CALCUTTA HIGH COURT
  

  Whether a fresh notice u/s 147(a) of Income-tax Act, 1961 for reassessment on the same facts would be valid - Held, no - Officer can initiate proceedings on new information or material u/s 147(b)

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• 1970 (5) TMI 12 - ALLAHABAD HIGH COURT
  

  When a return is filed before Act of 1961, whether reassessment u/s 143 of Income-tax Act, 1961 is valid - extraordinary jurisdiction of HC not required

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• 1970 (5) TMI 11 - DELHI HIGH COURT
  

  Whether the penalty order is in contravention of the provisions of sections 274 and 275 of the Income-tax Act, 1961 - Whether the levy of penalty under section 271(1)(c) of the Income-tax Act, 1961, is justified

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• 1970 (5) TMI 10 - DELHI HIGH COURT
  

  Bank loan used for purchase of goods was not repaid to bank - compromise decree for amount realised by sale of stock hypothicated - amount owed by the assessee to the bank was a trading liability and a remission in that received by the assessee would attract the provisions of sub-section (2A) of section 10 of the Act inasmuch as the assessee had received deduction for losses in a previous year of assessment.

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• 1970 (5) TMI 9 - CALCUTTA HIGH COURT
  

  Petitioner wrote to the Income-tax Officer who made the assessment requesting postponement of payment of the tax assessed pending the disposal of the appeal to the Appellate Assistant Commissioner - authority righlty exercised his discretion by refusing postponement - merely because an appeal has been preferred, stay of realisation cannot be granted

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• 1970 (5) TMI 8 - CALCUTTA HIGH COURT
  

  Seizure - retention of documents for more than 180 days - such retention is without jurisdiction

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• 1970 (5) TMI 7 - PUNJAB AND HARYANA HIGH COURT
  

  Damage to leased premises and machinery by fire -Whether the expenditure incurred by the assessee after the repairs to the plant and machinery was a permissible deduction - Held, yes

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• 1970 (5) TMI 6 - SUPREME COURT
  

  Search on September 21 and 22, 1964, and the documents were retained till May, 1966, i.e., for a period of 19 months - validity of the search - HC hold that CIT and ITO acted beyond "the legitimate scope of section 132 - order recorded by the High Court must be sustained on the ground that the documents taken possession were retained without authority of law for a period exceeding 180 days contrary to the terms of section 132(8) - revenue appeal dismissed

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• 1970 (5) TMI 5 - SUPREME COURT
  

  Remuneration to director - AO disallowed the expenses holding that the allowance paid to the two directors was excessive or unreasonable having regard to the legitimate business needs of the company and the benefit derived by or accruing to it therefrom - assessee plea that even if the taxpayer does not produce any evidence in support of the claim for allowance, the ITO must independently collect evidence and decide that the allowance claimed is excessive or unreasonable, is not accepted

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