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Showing 81 to 87 of 87 Records
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1965 (12) TMI 7
Partition - business assets received - ready gold account was not kept separate. The closing balance each year in the gold account was worked out at the end of each year by taking all the debt and credit entries in the entire gold account and treating them as one - held that the sale of three patlas of gold amounted to business so that any excess of the sale proceeds over the cost price could represent the assessable profit
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1965 (12) TMI 6
Mining Lease - Salami paid for running lease - income - assessability ... ... ... ... ..... ld, therefore, reframe the question in the following terms Whether, on the facts and in the circumstances of this case, the Tribunal was right in holding that the sum of Rs. 2,20,000 or any portion thereof was the income of the assessee assessable to tax under the provisions of the Income-tax Act ? And having reframed the question, I would answer it as follows On the facts and in the circumstances of this case, a sum of Rs. 20,000 included within the disputed sum of Rs. 2,20,000 was a payment on capital account and as such not assessable to income-tax, whereas the remaining sum of Rs. 2,00,000 was a revenue receipt of the assessee and assessable to income-tax as such. In the result, the question referred to this court is answered partly in favour of the assessee but substantially in favour of the department. Since the assessee has substantially failed, he must pay the costs of this reference to the Commissioner of Income-tax hearing fee Rs. 250. UNTWALIA J.- I entirely agree.
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1965 (12) TMI 5
Money sent to Commission agent through an employee was lost through a highway robbery - whether such loss would be allowable as a trading loss
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1965 (12) TMI 4
Whether writ can be issued to the Central Government when an application had been made to the Central Board of Direct Taxes for exemption from super tax
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1965 (12) TMI 3
Assessable profits of the assessee-company - inflation in the value of the opening stock - in the books of the vendor firm, the value of the stock-in-trade was shown at Rs. 1,77,285 as on the 31st July, 1956, while in the books of the assessee-company the value of the said stock-in-trade was shown at Rs. 2,10,285 - additions made by AO
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1965 (12) TMI 2
Petition for quashing and setting aside a notice under section 148 read with section 147(b) - validity
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1965 (12) TMI 1
notice under section 34 - service of the notice - validity - contention that law as copy of the notice was not affixed at any conspicuous place in the court-house or at any conspicuous place in the income-tax office
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