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Case Laws
Showing 281 to 300 of 355 Records
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1995 (11) TMI 75 - MADHYA PRADESH HIGH COURT
Assessment Proceedings, Legal Representative, Question Of Law, Rectification Of Mistakes ... ... ... ... ..... heirs and serve notices on them before completing the assessment. In the instant case, the Income-tax Officer had come to know about the death as also about the legal heir. Yet, the legal heir was neither noticed nor heard. This invalidity was not liable to be cured by rectification of the name of the legal heir under section 154 of the Act. The assessment order was, therefore, directed to be annulled. Shri Vyas submitted that in view of the annulment, fresh assessment can be made after notice to the legal heir. In view of the aforesaid position, we are satisfied that the proposed questions of law did not arise out of the order of the Tribunal. We are satisfied with the correctness of the view taken by the Tri bunal. We are also satisfied that the reference application under section 256(1) of the Act was rightly rejected. Recourse to section 256(2) of the Act is, thus, manifestly acarpous. We, therefore, dismiss this reference application, but without any orders as to costs.
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1995 (11) TMI 74 - MADHYA PRADESH HIGH COURT
High Court, Supreme Court ... ... ... ... ..... , is reversed by the Supreme Court for appropriate action in conformity with the decision and the provisions of the Act on the same lines as is ordered by this court in Miscellaneous Civil Case No. 103 of 1987 (CIT v. Shri Govindram Seksaria Charity Trust 1996 218 ITR 126) decided on November 28, 1995. The aforesaid provision gives power to the Tribunal to rectify any mistake within four years from the date of the order. This submission is not opposed by counsel for the non-applicant. Ex consequenti, we reject these reference applications as inutile and futile but without any order as to costs. However, even while doing so, we grant liberty to the Tribunal to invoke section 254(2) of the Act, if the situation so arose and the law so permitted. This order shall be retained in Miscellaneous Civil Case No. 133 of 1987 and a true copy each shall be placed in the record of the connected cases, as noted above. Counsel s fee on each side shall be Rs. 750 in each case, if certified.
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1995 (11) TMI 73 - ALLAHABAD HIGH COURT
Priority Industry ... ... ... ... ..... owing its earlier decision in Income-tax Reference No. 1150/(All.) of 1975-76, dated May 18, 1976. Item No. 32 of the Fifth Schedule in the Act is as follows Textiles (including those dyed, printed or otherwise processed) made wholly or mainly of cotton, including cotton yarn, hosiery and rope. The Tribunal, the last fact-finding body, held that the assessee was engaged in the manufacture of cotton yarn, which, in the opinion of the Tribunal, was covered by item No. 32 of the Fifth Schedule. The Tribunal having found that the assessee was engaged in the manufacture of cotton yarn, we are of the opinion that the same is covered by item No. 32 of the Fifth Schedule, inasmuch as the entry clearly states textiles made wholly or mainly of cotton including cotton yarn. For the reasons, we answer the question in the affirmative. The record of this case will be sent down by the Registry within fifteen days from today to enable the Tribunal to pass an order, conformably to our order.
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1995 (11) TMI 72 - RAJASTHAN HIGH COURT
Academic Question, Deemed Gift, High Court ... ... ... ... ..... of the order of the Tribunal, if it is unnecessary or irrelevant or is not calculated to dispose of the real issue between the taxpayer and the Department . We are, therefore, of the opinion that it is not mandatory for the High Court, when once a reference is made, that the High Court must proceed to answer the question stated in the reference and to decide it though the question may be purely academic in nature and unnecessary to decide. In view of the findings arrived at by the Tribunal, which have not been challenged, the answer will not change the result of the case. For the reasons stated above, we are of the opinion that it is not necessary to answer the question referred by the Tribunal because the answer to the question will be purely academic and it will be an exercise in futility to answer the question and remit the case back to the Tribunal. We, therefore, decline to answer the question referred by the Tribunal. Consequently, the reference is returned unanswered.
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1995 (11) TMI 71 - MADHYA PRADESH HIGH COURT
Application For Directing Reference, Application For Reference, Charitable Purpose, Charitable Trust, Finding Of Fact, High Court, Power To Rectify Mistakes, Powers Of Tribunal, Question Of Law
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1995 (11) TMI 70 - MADHYA PRADESH HIGH COURT
Agricultural Land, Capital Asset, Capital Gains ... ... ... ... ..... vidence after taking into consideration the entire circumstances in the case is a finding of fact which cannot be set aside by the High Court in the exercise of the power under section 100 of the Civil Procedure Code. The finding of fact, not shown to be perverse or perishable, reached by the Tribunal did not give rise, as held in CIT v. Ashoka Marketing Ltd. 1976 103 ITR 543 (SC) and CIT v. Kotrika Venkataswamy and Sons 1971 79 ITR 499 (SC), to any question of law. In the result, we find that no question of law arises out of the order of the Tribunal. The question as proposed is the product of appreciation of the facts and the appreciation is not shown to be perverse or perishable. In the result, we reject these reference applications but without any order as to costs. This order shall be retained in Miscellaneous Civil Case No. 553 of 1994 and a copy thereof shall be placed in the connected records of miscellaneous civil cases, as particularised above, for ready reference.
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1995 (11) TMI 69 - GAUHATI HIGH COURT
Agricultural Income, Assessing Officer, Income From Tea, Wholly And Exclusively ... ... ... ... ..... claimed were not for the operation and manufacture of tea, etc. From the impugned judgments and orders, I do not find that the Income-tax Officer or the appellate authority scrutinised this aspect of the matter and came to a definite finding. Under the provisions of section 8(2)(f)(vii) of the Act, it is the duty of the Agricultural Income-tax Officer to see whether the exemption claimed comes within the restriction mentioned in the said section. However, I do not find that any endeavour was made by the Department before arriving at a conclusion. Therefore, in my opinion, the impugned orders cannot be sustained in law. Accordingly, I set aside the impugned orders of assessment. However, the Department may reassess the income for the years 1980-81 to 1982-83 strictly in accordance with the provisions of law and in the light of the decision of the apex court and the observations made hereinbefore. Considering the facts and circumstances of the case, I make no order as to costs.
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1995 (11) TMI 68 - MADHYA PRADESH HIGH COURT
Agricultural Land, Capital Asset, Capital Gains ... ... ... ... ..... infirmity or invalidity in the order passed by the Tribunal. We, therefore, hold that the Tribunal was justified in law in holding that the land used for agricultural purposes does not come within the definition of capital asset under section 2(14)(iii) of the Act. There are two additional factors noticeable herein (a) The non-applicant has died but the legal representatives have not been impleaded to enable a full-fledged hearing of the reference application. (b) The final order pursuant to the order of remand passed by the Tribunal has been passed by the appropriate authority and the Revenue has not challenged the final order. In view of the aforesaid position of law vis-a-vis facts as have been proved, we answer the question in the affirmative, i.e., against the Revenue and in favour of the assessee. The question is answered accordingly. A copy of this order shall be transmitted to the Tribunal under the seal of the court and the signature of the Registrar for compliance.
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1995 (11) TMI 67 - MADHYA PRADESH HIGH COURT
Assessing Officer, Tax Liability ... ... ... ... ..... re. In our opinion, therefore, on a harmonious reading of both these provisions, the assessee s right to the extent of the disputed amount shall be protected as per the second proviso of sub-section (2) of section 143 and the whole assessment order will not go. It is true that when no order is existing at the relevant time on account of lapse of time, no order of rectification could have been passed under section 155 read with section 154 of the Act. But we need not consider that aspect and we confine ourselves to a limited question. So far as the second proviso to sub-section (2) of section 143 read with section 153 of the Act is concerned, only the limited disputed demand shall not stand recoverable from the assessee because of the failure on the part of the assessing authority to dispose of the application under sub-section (2)(a) of section 143 of the Act within the time-frame prescribed under section 153(1)(a)(iii) of the Act. Both the questions are accordingly answered.
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1995 (11) TMI 66 - MADHYA PRADESH HIGH COURT
Incentive Bonus, Taxing Statutes ... ... ... ... ..... net wealth. In pursuance of the above circular, taxing liability has to be now worked out. According to this circular, it appears that the Board has recorded that in the absence of any clear indication in the Act, deduction of such debts had to be allowed in a manner which is most beneficial to the assessee and the Board has illustrated the point by reference to an illustration that if a debt of Rs. 1 lakh has been secured on house property, the value of which is Rs. 1,50,000 and exemption of Rs. 1 lakh is allowed under section 5(1)(iv), the debt will be to the extent of Rs. 50,000, being the value of the house property which is otherwise includible in the net wealth. Therefore, in view of this circular now, the whole taxing liability has to be worked out. Hence, we accept the reference and hold that the view taken by the Tribunal is partially not correct and the taxing liability should be worked out in terms of the aforesaid circular. The reference is answered accordingly.
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1995 (11) TMI 65 - MADHYA PRADESH HIGH COURT
Payments In Cash, Question Of Law ... ... ... ... ..... as returned were steps hostile to the purpose and object and that the assessee was required to be given the benefit of such payments made in exceptional circumstances. Law lives on logic and as such illogicality, resting on technical view, is to be spurned. This finding of fact, not shown to be perverse or perishable, reached by the Tribunal did not give, as held in CIT v. Ashoka Marketing Ltd. 1976 103 ITR 543 (SC) and CIT v. Kotriha Venkataswamy and Sons 1971 79 ITR 499 (SC), rise to any question of law and as such the Tribunal rightly rejected the referen ce application. Recourse to section 256(2) of the Act is thus not justified and is acarpous. In the circumstances, we find that the finding of the Tribunal is based on a proper appreciation of facts and does not give any rise to the question of law. We are, thus, satisfied with the correctness of the view taken by the Appellate Tribunal. We accordingly reject this application summarily, but without any order as to costs.
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1995 (11) TMI 64 - ALLAHABAD HIGH COURT
Change In Constitution Of Firm, Two Partners ... ... ... ... ..... 1988 172 ITR 662 (All) that the Full Bench decision of this court in Vishwanath Seth s case 1984 146 ITR 249 is and continues to be good law even today. Following the decision in Basant Behari Gopal Behari and Co. 1988 172 ITR 662 (All) and Indralok Picture Palace 1991 188 ITR 730 (All) we hold that the Full Bench decision in Viswanath Seth s case 1984 146 ITR 249 (All) still holds the field and continues to be good law. Following the Full Bench decision in Viswanath Seth s case 1984 146 ITR 249 (All) the view taken by the Appellate Tribunal is certainly erroneous. In the case of reconstitution of the firm not two but one assessment has to be made on the firm as it stood at the end of the year. We, therefore, answer the question referred to this court in the negative, that is, in favour of the Revenue and against the assessee. The records of this case will be sent down within fifteen days from today to enable the Appellate Tribunal to pass an order conformably to our order.
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1995 (11) TMI 63 - GUJARAT HIGH COURT
Carry Forward And Set Off, Industrial Company, Set Off Of Loss, Substantially Interested ... ... ... ... ..... wealth under section 5 have to be excluded and the same cannot be made a part of the interest of a person in the partnership firm referable to net wealth. In view of the aforesaid decision of this court, we answer question No. 1 referred to above that the value of the building included in the assets of the firm has to be excluded while computing the net wealth of the firm for the purpose of ascertaining the share of the assessee in the net wealth of the firm to be included in the net wealth of the assessee under section 4 of the Act. Our answer to question No. 2 consequently is that in the facts and circumstances of the present case, the benefit under section 5(1)(ii) had to be worked out by excluding the value of those land and building of the firm while computing the net wealth of the firm for the purpose of ascertaining the assessee s share to be included in his total wealth which would otherwise be exempted under section 5(1) of the Wealth-tax Act. No order as to costs.
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1995 (11) TMI 62 - GUJARAT HIGH COURT
Carry Forward And Set Off, Industrial Company, Set Off Of Loss, Substantially Interested ... ... ... ... ..... in favour of the assessee and against the Revenue. Coming to question No. 3, we find that the Tribunal has referred to its order in the assessee s own case for the assessment year 1975-76, which has been followed by it, and while deciding the appeal out of which this reference has arisen it recorded the finding that a major portion of the assessee s income pertains to processing of marbles, and has also recorded that the Income-tax Officer himself in his order has observed that the assessee-company has got business as in the past, namely, cutting and processing of marble slabs. On the aforesaid premises and more particularly in view of the absence of any material showing that the assessee was engaged in any other business, in our opinion, the Tribunal has rightly come to the finding that the assessee is an industrial company and has to be charged to tax at the rate applicable to the industrial company. Accordingly, the reference stands disposed of with no order as to costs.
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1995 (11) TMI 61 - ALLAHABAD HIGH COURT
Charitable Institution, In Part, Partnership Deed ... ... ... ... ..... application of income and not diversion. On further appeal by the assessee, the Appellate Tribunal also rejected the assessee s contention. Counsel for the assessee has not pointed out any provision of law under which deduction on the basis of clauses (10) and (11) of the partnership deed has been claimed. No deduction can be allowed simply by virtue of a stipulation, made in the partnership deed. The assessee can claim deduction only under a provision of law, which has not at all been pointed out by the assessee. In our view, the Tribunal has rightly held that the instrument of partnership deed did not create an overriding charge, but there was simply application of the income to the extent of 6.25 per cent. of profits to Lok Sewa Mission. We, therefore, answer the question in the affirmative, i.e., in favour of the Revenue and against the assessee. The record of this case be sent down to the Appellate Tribunal within fifteen days to pass an order conformably to our order.
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1995 (11) TMI 60 - ALLAHABAD HIGH COURT
Delay In Filing Return, Jurisdiction To Impose Penalty, Law Applicable To Assessment, Penalty Proceedings
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1995 (11) TMI 59 - BOMBAY HIGH COURT
Actual Cost, Approved Superannuation Fund, Foreign Currency, Mercantile System ... ... ... ... ..... urring in section 36(1)(iv) of the Act has to be given the same meaning as has been assigned to it by the Legislature in section 43(2) of the Act unless the context otherwise requires. There is nothing in the context in which it occurs in section 36(1)(iv) of the Act to require otherwise. Situated thus, we are of the clear opinion that the Tribunal was right in holding that the meaning of the word paid used in section 56 in connection with the contribution towards approved superannuation fund is the one given to it by section 43(2) of the Act. Accordingly, we answer question No. 3 in the affirmative and in favour of the assessee. In view of the above answer to question No. 3, question No. 4 which is consequential has also to be answered in the affirmative and in favour of the assessee. It is answered accordingly. This reference is answered accordingly. In view of the facts and circumstances of the case, we direct the Revenue to pay the sum of Rs. 750 to the assessee as costs.
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1995 (11) TMI 58 - ALLAHABAD HIGH COURT
Question Of Law ... ... ... ... ..... al proceeds to consider the explanation of the assessee from the point of view whether the onus was successfully discharged or not by the assessee, it will be free to come to the same conclusion, which it had already reached. We may not be misunderstood that the legal position, stated above, deprived the Appellate Tribunal from reiterating its view either wholly or partly. What we have impressed in this order is that the Tribunal has to proceed bearing in mind the correct legal position and come to the conclusion whether the explanation of the assessee is sufficient to discharge the onus, which shifted upon it under the amended law. We, therefore, answer the question referred to this court in the negative and remand the case to the Appellate Tribunal for deciding to record a clear finding on the question whether there was cogent and relevant material to rebut the presumption that the concealment was not due to fraud or any gross or wilful neglect on the part of the assessee.
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1995 (11) TMI 57 - PUNJAB AND HARYANA HIGH COURT
Question Of Law ... ... ... ... ..... on in the case of the respondents to get the reference made and the point of law adjudicated. Rather the judgment in favour of the respondent herein might have persuaded the Revenue to get the point of law settled lest it may continue affecting the interest of the Revenue in future as well. The plea raised can not also be termed a pure plea of fact. The reference sought requires the interpretation and application of section 4(1) of the Gift-tax Act, 1958, which admittedly has not been interpreted or adjudicated by the jurisdictional court. The application is accordingly allowed with a direction to the Tribunal to refer the following question to this court for its opinion Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in holding that the Revenue authorities had gone wrong in invoking section 4(1)(a) of the Gift-tax Act, 1958, regarding valuation of shares of Oswal Woollen Mills Ltd., for the purposes of gift-tax ?
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1995 (11) TMI 56 - DELHI HIGH COURT
Appropriate Authority, Immovable Property By Central Government, Movable Property ... ... ... ... ..... 7.30 lakhs, which was fully paid on October 29, 1993. The sale being confirmed, possession was also handed over to Sri Mohan Mahavir Prasad Shah, the transferee, on October 29, 1993. Though this fact was brought to the notice of the petitioner, no steps, till date, have been taken to implead the transferee as a party. We have also gone through the impugned order and do not find any infirmity therein. The appropriate authority has taken into consideration the sale instance of Flat No. 11-B, which was having approximately same area as that of the flat in question. It was observed that this property is also located in the same complex and can be taken as the best guide for arriving at the fair market value. The appropriate authority also took note of all other relevant factors into consideration, namely, the date of transfer, the proximity of time and the advantages available and formed an opinion resulting in the impugned order. We do not find any infirmity therein. Dismissed.
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