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Case Laws
Showing 201 to 208 of 208 Records
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1984 (9) TMI 8 - MADHYA PRADESH HIGH COURT
Inclusions In Total Income ... ... ... ... ..... nclusion. It is not in dispute that no material was placed, but what the learned counsel for the assessee attempted to contend was that it could be inferred from the fact that the husband of the assessee was in the service of this firm in the earlier year when the assessee was not a partner but the question of his being in service in the earlier year is of no consequence as in that year section 64 did not apply and when section 64 is applicable, it was for the assessee to produce material to bring the case within the ambit of the proviso to section 64(1)(ii) quoted above and, in the absence of material produced before the Tribunal, the conclusion that the Tribunal reached is a mere conclusion of fact and no question of law arises. In this view of the matter, therefore in our opinion, it is not necessary for us to answer the question no question of law arises. The reference is, therefore, rejected. In the circumstances of the case, parties are directed to bear their own costs.
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1984 (9) TMI 7 - GUJARAT HIGH COURT
Qualifications, Registered Valuer, Wealth Tax ... ... ... ... ..... purposes of this rule, unless the membership has been granted on the basis of passing the examinations conducted by the institution. The recognition by the Central Government of a qualification for the purposes of recruitment to the superior services, or posts under the Central Government is not to be regarded as a requisite qualification under the rule. It can be regarded so only if the membership of any institution recognised by the Central Government as sufficient qualification has been granted on the basis of passing the examination conducted by the Institution. The averments in the petition are categorical that the petitioner got the membership of the Institution in Civil Engineering, not by virtue of passing any examination but by approaching the Institution by a letter requesting that this must be done. That being the case, that disables the petitioner from getting registration as a valuer. In other words, he is not qualified. Hence, we dismiss the petition. No costs.
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1984 (9) TMI 6 - PATNA HIGH COURT
Jurisdiction ... ... ... ... ..... decision where the Supreme Court observed as follows (headnote) When the Tribunal holds that such an assessment is liable to be set aside, the duty of the Tribunal does not end with making a declaration that the assessment is illegal. The proper order to be passed in such case would be to set aside the assessment and to direct the Income-tax Officer to make a fresh assessment in accordance with the procedure prescribed by law. The decision relied upon by Mr. Rameshwar Prasad is really against his contention and is in favour of the Department. The law laid down by Venkataramiah J., quoted above, settles the matter completely. The same view was taken by a Division Bench of this court in Mahalliam Ramniranjan Das v. CIT 1985 156 ITR 885 (Pat). In our view, there is no merit in the submission Urged on behalf of the assessee. For the reasons stated above, the question referred to this court must be answered in the affirmative, in favour of the Department and against the assessee.
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1984 (9) TMI 5 - BOMBAY HIGH COURT
Balancing Charge, Business ... ... ... ... ..... s, of course, in the view that we have taken., we will have to deduct the two amounts paid for the brokerage of the ships and the travelling allowance which were incurred for the delivery of the ship Bharat Bhushan . We accept this submission of Mr. Dastur. In this view of the matter, we answer the questions as under Question (a) The assessee was liable to pay the tax on the balancing charge calculated at Rs. 18,72,000. According to us, the proper method of computing the balancing charge would be to take the rupee equivalent on the respective dates as indicated earlier, that is, 48,000 pounds on the date of the agreement, and 6,000 pounds each on the respective dates of the instalments. Questions (b) and (c) As far as questions (b) and (c) are concerned, we answer them in the affirmative and in favour of the assessee. The assessees have succeeded on all the three aspects of the question and accordingly the assessee is entitled to the costs of the reference. Order accordingly.
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1984 (9) TMI 4 - ANDHRA PRADESH HIGH COURT
Income From Other Sources, Interest On Securities, Trustee ... ... ... ... ..... n our opinion, 7 1/2 of the net receipts of the income of the trust after deducting from its total income the remuneration paid to the trustees constitutes reasonable expenditure for administering the trust under sections 57(i) and 19(i) of the Act. We accordingly hold that, on the facts and circumstances of the case, the rent received by the trust from Parade Villa during the assessment years 1971-72 and 1972-73, except for one month, cannot be assessed under the head Income from other sources or under any other head. We also hold that, on the facts and circumstances of the case, the remuneration of Rs. 39,000 each paid to the trustees during the two assessment years in question constitutes deductible expenditure and that 7 1/2 of the net income of the trust after deduction from the total income the remuneration paid to the trustees constitutes deductible expenditure for administering the trust. Both the questions are accordingly answered in favour of the assessee. No costs.
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1984 (9) TMI 3 - PATNA HIGH COURT
Business Expenditure ... ... ... ... ..... g to a finding that the interest paid on the deposits by the directors, their relations and associates is not an expenditure within the meaning of section 40(c) of the Act. In view of my discussions above, I hold that, on the facts and in the circumstances of the case, the provisions of section 40(c) of the Act could not be applied to the old credits on which interest had been paid to the creditors who were related to the directors of the company and, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the interest so paid to the above creditors was not an expenditure within the meaning of section 40(c) of the Act. Hence, question No. 1 is answered in the negative and against the Revenue and question No. 2 is answered in the affirmative and against the Revenue and thus both the questions are answered in favour of the assessee. However, in the circumstances of the case, the parties will bear their own costs. S. K. JHA J.-I agree.
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1984 (9) TMI 2 - CALCUTTA HIGH COURT
Assessment, Return ... ... ... ... ..... for the purposes of assessment is thus the return which is ultimately filed by an assessee on the basis of which he wants his income to be assessed. Section 139(4) and section 139(5) give the assessee a right to file belated return and also a revised return. It is the assessee s right to do so. In this case, the assessee thought that the first set of returns were not complete. He filed the second set of returns and invited the Income-tax Officer to act upon it. The Income-tax Officer passed the order of assessment on the second set of returns. The assessee cannot be heard to say that the second set of returns was non est and the limitation should be computed from the date of the filing of the first set of returns. On the facts of this case and in view of the principles laid down by this court in the two judgments referred to hereinabove, the question must be answered in the affirmative and against the assessee. There will be no order as to costs. DIPAK KUMAR SEN J.-I agree.
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1984 (9) TMI 1 - SUPREME COURT
Compensation in the amount of Rs. 20,000 was awarded only in lieu of reinstatement - it is conceded that the appellant's service was liable to stand terminated under the contract of service, the back-wages would be payable only for the period commencing from the date of termination till the date on which that service will come to an end under the terms of contract - held that where compensation is awarded to dismissed workman, he is entitled to exemption of Rs. 20,000 u/s 10(10B)
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