Case Laws |
Home Case Index All Cases Income Tax Section Wise 1962 1962 (5) This
|
Advanced Search Options
Case Laws
Showing 41 to 42 of 42 Records
-
1962 (5) TMI 2
Whether the sum of ₹ 60,000 was paid by Irani to the assessee company in view of the partnership getting the rights under the quota which the assessee company possessed and that therefore the sum represented a capital receipt and not a revenue receipt?
Held that:- The High Court came to a correct conclusion that the sum of ₹ 60,000 was a revenue receipt and liable to tax. We accordingly dismiss the appeal with costs.
-
1962 (5) TMI 1
Natural justice ... ... ... ... ..... horities it can be legitimately urged on behalf of the petitioner that there has been no proper trial and disposal of the appeal by the Central Board of Revenue. The learned Counsel for the respondents has urged that the Board of Revenue merely confirmed the order of the Collector which adopted all the reasoning given by him and it was unnecessary to give reasons of its own. In the present case also the decisions of the Central Board of Revenue is subject to the jurisdiction of Their Lordships of the Supreme Court under Article 136 of the Constitution. As no reasons were given the ratio of the decision in Harinagar Sugar Mills case would apply. In the result, the petition is allowed to the extent that the order of the Central Board of Revenue is hereby quashed. In exercise of my powers under Article 227 of the Constitution I direct that the Central Board of Revenue shall rehear and dispose of the appeal in accordance with law. In the circumstances I make no order as to costs.
|
|