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Showing 61 to 80 of 104 Records

• 1967 (7) TMI 44 - CALCUTTA HIGH COURT
  

  Whether the properties covered by the deed of gift have been rightly included in the estate of the deceased as property passing on his death under s. 5 or alternatively, as property deemed to pass on his death u/s 10 of Estate Duty Act, 1953 - question referred to this court is answered in the affirmative and against the assessee

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• 1967 (7) TMI 43 - CALCUTTA HIGH COURT
  

  Assessee-company installed new bodies on the old chassis of its tram cars which it plies in the City of Calcutta - held that new tram-car bodies installed on old chassis were machinery or plant by themselves and accordingly additional depreciation and development rebate were allowable in respect thereof u/s 10(2)(via) and 10(2)(vib)

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• 1967 (7) TMI 42 - ANDHRA PRADESH HIGH COURT
  

  Estate Duty Act, 1953 - Whether, on the facts and in the circumstances of the case, the Board were justified in holding that the provisions of section 10 of the Act were attracted in respect of the stationery business and house properties gifted by the deceased to his sons, Messrs. Mohammed Bhai and Fazal Hussain - Held, yes

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• 1967 (7) TMI 41 - ALLAHABAD HIGH COURT
  

  Income derived from the trust property - amounts spent on the maintenance and support of the S family cannot be a charitable object - not exempt under s. 4(3)(I)

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• 1967 (7) TMI 40 - GUJARAT HIGH COURT
  

  Whether the assessee is a company " whose business consists wholly or mainly in the dealing in or holding of investments " within the meaning of clause (i) of the second Explanation to that section - Whether the assessee had any `business` of holding of investments during the relevant account years

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• 1967 (7) TMI 39 - ALLAHABAD HIGH COURT
  

  Whether the sum being interest earned by the minor son of the assessee on the capital subscribed by him in the firm in which the assessee is also a partner, is liable to be included in the total income of the assessee u/s 16(3)(a)(ii) - Held, yes

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• 1967 (7) TMI 38 - ALLAHABAD HIGH COURT
  

  Indian Income Tax Act, 1922 - assessment u/s 23(3) r/w section 34 and second proviso to section 34(3) - validity

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• 1967 (7) TMI 37 - ALLAHABAD HIGH COURT
  

  Application of the assessee for registration rejected - whether it was rightly rejected

  
  
  ... ...
  ... ... ..... orse a certificate on either of the two. It may also be noticed that paragraph 2 of the form under rule 3 mentions two things (1) the original, and (2) the certified copy, of the instrument. If the original is filed, then the words a certified copy of the would be struck off, and if, on the other hand a certified copy is filed, then the word original would be struck off. This shows that either the original or the certified copy must be filed. Inasmuch as in the present case neither the original instrument of partnership nor a certified copy thereof had been filed, the answer to the question referred to us has to be against the assessee. We, therefore, answer the question referred to us in the affirmative against the assessee and in favour of the department. The assessee shall pay to the Income-tax Commissioner a sum of Rs. 200 by way of costs of these proceedings. We fix the fee of the learned counsel for the department at the same figure. Question answered in the affirmative

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• 1967 (7) TMI 36 - MADRAS HIGH COURT
  

  Petitioner applies u/s 54(1) of the Madras Agricultural Income-tax Act, 1955, to revise an order of the Commissioner of Agricultural Income-tax - Whether the time limit u/s 33A(1) of the IT Act is for the exercise of suo motu rivisional power of CIT - held that suo motu power was exercised by the Commissioner in this case after the time limit had expired

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• 1967 (7) TMI 35 - CALCUTTA HIGH COURT
  

  Appellate Assistant Commissioner - AAC in exercise of his power u/s 31(3), set aside that part of the order of the ITO (by enhancing the assessment by disallowing certain items which had been allowed by the ITO) and directed inclusion of the amount in the computation of the assessee`s income. In so doing the AAC did not act without any jurisdiction

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• 1967 (7) TMI 34 - GUJARAT HIGH COURT
  

  Penalty - return was filed by the assessee before April 1, 1962, being the date of commencement of the new Act - IAC could not impose penalty upon the assessee u/s 271(1)(c) of the IT Act, 1961

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• 1967 (7) TMI 33 - GUJARAT HIGH COURT
  

  Assessee company carried on two businesses. One was money-lending business and the other was business of dealing in investments - dividend income chargeable u/s 12 of the IT Act, 1922, is part of the income of the business of the assessee for the purpose of set off of the loss brought forward u/s 24(2)

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• 1967 (7) TMI 32 - CALCUTTA HIGH COURT
  

  Whether the value of tubewells, water supply plant amounting to Rs. 4,45,438 is liable to exclusion from the net wealth of the assessee under section 2(e)(i) or to deduction under s. 5(1)(ix) of the WT Act - Held, no

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• 1967 (7) TMI 31 - GUJARAT HIGH COURT
  

  Whether the interest income earned by the minor son of the assessee on the amount standing to his credit in the firm of M/s. CWC was includible in the assessment of the assessee u/s 64(ii) - Held, yes

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• 1967 (7) TMI 30 - KERALA HIGH COURT
  

  Undisclosed Income - Reopening of assessment u/s 147(a) - additions - validity

  
  
  ... ...
  ... ... ..... t is open to the court to examine the question whether the reasons for the belief have a rational connection or a relevant bearing to the formation of the belief and are not extraneous or irrelevant to the purpose of the section. To this limited extent, the action of the Income-tax Officer in starting proceedings under section 34 of the Act is open to challenge in a court of law. If, on the facts, it is a clear case, to which section 147(a) is not attracted, as I have already held, the proceedings taken by the respondent is without jurisdiction, and the petitioner is entitled to a writ prohibiting the respondent from pursuing the said proceedings. Therefore, the respondent s contention that this court is not entitled to interfere with the respondent s action at this stage cannot be accepted. In the result, I allow this original petition, and quash exhibits P-1 and P-5 and all the proceedings taken by the respondent pursuant to exhibit P-1. There will be no order as to costs.

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• 1967 (7) TMI 29 - CALCUTTA HIGH COURT
  

  Property dedicated to deity by will and not let out - temple, which is wholly and exclusively occupied by a deity or for use of the deity, comes within the mischief of section 9(2) - computation of income artificially - valid

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• 1967 (7) TMI 28 - GUJARAT HIGH COURT
  

  Demand for advance tax issued under the Act of 1922. Whereas non-payment of instalment of advance tax was after the commencement of the Act of 1961. Penalty imposed u/s 46(1) of the Act of 1922 - imposition of penalty is justified

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• 1967 (7) TMI 27 - ALLAHABAD HIGH COURT
  

  Assessee valuing closing stock at cost. WTO valuing it at market price - valuation of WTO is justified - WTO had a discretion in the matter and he was fully at liberty to have followed the procedure given under s. 7(1)

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• 1967 (7) TMI 26 - CALCUTTA HIGH COURT
  

  Recovery of tax arrear under Bengal Public Demands Recovery Act, 1913. Extention of appointment as additional district magistrate without fresh appointment as first class magistrate. Order of extention by the State Govt. followed by further order of the Governor -Whether order of Governor effective - Held, yes

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• 1967 (7) TMI 25 - ALLAHABAD HIGH COURT
  

  Minor admitted to benefits of partnership attaining majority. Application for renewal of registration without fresh partnership deed - application for registration not maintainable

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