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Showing 41 to 60 of 84 Records

• 1968 (10) TMI 44 - MADRAS HIGH COURT
  

  Transfer of all lands owned by transferor to wife and minor children - income from lands can not be included in transferor`s income

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• 1968 (10) TMI 43 - KERALA HIGH COURT
  

  Kerala Agricultural Income Tax Act, 1950 - petitioner holds about 50 acres of land in his individual capacity, besides certain other properties as mutawalli of a wakf - wakf is not for wholly religious or charitable purpose and is not entitled to exemption u/s 4(3) - income of the wife and minor children of an assessee arising from the wakf and in respect of which the assessee was the Mutawalli, can be included in the total income of the assessee

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• 1968 (10) TMI 42 - KERALA HIGH COURT
  

  Petition to quash notice u/s 147 as it is barred by limitation - held that plea of limitation cannot be permitted to be raised in writ proceedings

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• 1968 (10) TMI 41 - KERALA HIGH COURT
  

  Whether the Tribunal was justified in applying the proviso to section 13 of the Indian Income-tax Act, 1922 - accounts are regularly maintained and they have been accepted in respect of three out of the four commodities in which the assessee deals - fact that the purchases of arecanut are supported only by the assessee`s bought notes is no ground for the application of the proviso to section 13 of the 1922 Act, or the proviso to section 145 of the 1961 Act

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• 1968 (10) TMI 40 - MADRAS HIGH COURT
  

  Estate Duty Act, 1953 - Whether the Asst. Controller of Estate Duty was wrong in applying section 34(1)(c) to the case of Dayabhaga family - held that there is no discrimination whatever brought about by s. 34(1)(c) between members of a Mitakshara joint Hindu family and of a Dayabhaga family in the matter of application of rates of taxation - petition to quash the order, is dismissed

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• 1968 (10) TMI 39 - GUJARAT HIGH COURT
  

  Estate Duty Act, 1953 - applicability of section 5 of the Estate Duty Act, 1933 - exigibility of estate duty on trust property

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• 1968 (10) TMI 38 - MADRAS HIGH COURT
  

  Madras Agricultural Income Tax Act - petitioner was appointed as a receiver for the estate of deceased - Assessment of Receiver in respect of Agricultural Income - when the receiver is assessed, the status in which the assessment is to be made should follow the status of the person or persons who are entitled to or possess the lands

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• 1968 (10) TMI 37 - DELHI HIGH COURT
  

  Land purchased was developed in plots and then sold - profit arising from the sale of lands liable to income-tax on the ground that the transactions in the lands were in the nature of business transactions

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• 1968 (10) TMI 36 - GUJARAT HIGH COURT
  

  Assessment order was made pursuant to return of income filed before commencement of new Act - ITO is not justified in issuing the notice proposing to rectify u/s 154 of new Act

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• 1968 (10) TMI 35 - GUJARAT HIGH COURT
  

  Best assessment judgment- recovery proceedings

  
  
  ... ...
  ... ... ..... ground also becomes unnecessary to decide on the view taken by us that the entire recovery proceedings are vitiated by reason of want of service of the notice of demand on the petitioners. We may point out that in any event this ground involves determination of a disputed question of fact and we would not, therefore, in any view of the matter, entertain it in the exercise of our extraordinary jurisdiction under article 226. Moreover, the petitioners have an alternative remedy available to them under rule 11, clause (6), of the Second Schedule to the Act, We therefore allow the petition and make the rule absolute to the limited extent that a writ of mandamus shall issue quashing and setting aside the certificate of recovery forwarded by the Income-tax Officer to the Additional Collector, Bombay, as also the recovery proceedings instituted against the petitioners on the strength of such recovery certificate. The respondents will pay the costs of the petition to the petitioners.

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• 1968 (10) TMI 34 - KARNATAKA HIGH COURT
  

  Whether the Appellate Assistant Commissioner was justified in law in enhancing the revised figure of income computed by the ITO - AAC did not, on a perusal of the available material, reach the conclusion that there was any mistake committed by the ITO in reducing the income from the lorry business - question is answered in negative

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• 1968 (10) TMI 33 - ANDHRA PRADESH HIGH COURT
  

  Estate Duty Act, 1953 - Whether the house property did not form part of estate of deceased - since there was no evidence or material on record from which an inference of benami can be drawn in respect of the house, house property does not form part of the estate of the deceased

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• 1968 (10) TMI 32 - ALLAHABAD HIGH COURT
  

  Maintainability of appeal u/s 30(1) - firm was dissolved - two separate appeals filed against the assessment orders - validity of appeals filed by the partner, before the AAC

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• 1968 (10) TMI 31 - RAJASTHAN HIGH COURT
  

  Exepnditure - spent by the assessee-company in the earlier years as expense for procuring and execution of Project - legal expenses incurred in defending the monopoly right enjoyed by the assessee-company under an instrument of assignment of lease - allowability for deduction u/s 10(2)(xv) of the Indian Income-tax Act

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• 1968 (10) TMI 30 - DELHI HIGH COURT
  

  Diversion by overriding title - assessment of the firm

  
  
  ... ...
  ... ... ..... written consent was never set up by the revenue before the Tribunal. If we were to call for a further statement of case on this point, that would change the very nature of the question referred so much so that, if it be found that there was a written consent, the first question may not arise at all. Besides the letter mentioned above, admittedly there is nothing else on the record to show that there was a written consent. In the circumstances, and particularly the circumstance that this contention was never put forth before the Tribunal, I am not inclined to agree with Mr. Kirpal and send for a fresh statement of case. In view of my answer to the first question, the second question does not arise. So far as the third question is concerned, it must be held that the income was properly included in the assessment of the firm. The fourth question also does not, in the circumstances, arise. I answer the questions as discussed above with no order as to costs. TATACHARI J.-I agree.

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• 1968 (10) TMI 29 - DELHI HIGH COURT
  

  Status of the assessee - a family consisting of only one coparcener and female members can enjoy the status of a Hindu undivided family within the Income-tax Act

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• 1968 (10) TMI 28 - GUJARAT HIGH COURT
  

  Estate Duty - value of the superstructure built by the deceased on the land of the society - includibility in the principal value of the estate of the deceased

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• 1968 (10) TMI 27 - MADRAS HIGH COURT
  

  Levy of additional surcharge on tax - validity

  
  
  ... ...
  ... ... ..... the States on the prescribed percentage basis. But the point remains whether the additional surcharge levied can be said to be an increase of the tax for Union purposes. In our view, where a part of the income is not chargeable to tax at all, it may be inappropriate to increase the tax, which did not exist, by the additional levy. Bat this is not such a case. The income of the assessee from its business carried on as a co-operative society was part of the total income as we have already mentioned, and it was chargeable to tax under section 4. The charge would have been laid but for the exemption provided by section 81. In such a context, we think that, though the tax, because of the exemption, is not actually levied and collected, it will not be inappropriate to regard the additional surcharge levied as an increase to the tax, which, though chargeable, is not actually levied and collected because of the exemption. The petition is dismissed with costs. Counsel s fee, Rs. 250.

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• 1968 (10) TMI 26 - GUJARAT HIGH COURT
  

  Estate Duty Act, 1953 - gift - computation of estate of the deceased

  
  
  ... ...
  ... ... ..... into the partnership firm nearly 17 months after the date of the gift and even then it was held that the entire property included in the gift was liable to be included in the principal value of the estate of the deceased. In our opinion, the provisions of section 10 clearly apply in this case and the case clearly falls within the first limb of the second part of section 10 of the Act. As regards the accumulated interest referable to the sum of Rs. 30,000, in our opinion, the view taken by the Tribunal is correct because section 10 applies to that property which is the subject-matter of the gift and not the income from or subsequent accretion to that originally gifted property. We, therefore, answer the questions referred to us, as follows? Question No. Answer (1) Not necessary, in the light of our conclusions regarding section 10. (2) In the affirmative. (3) In the affirmative (4) In the negative. The accountable person will pay the costs of this reference to the Controller.

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• 1968 (10) TMI 25 - GUJARAT HIGH COURT
  

  Estate Duty Act, 1953 - Whether, the sum of Rs. 1,75,000 representing the value of five immovable properties gifted by the deceased to his five sons by five gift deeds, dated the 25th September 1, 1951, has been correctly included in the principal value of the estate of the deceased under the provisions of sections 10 and 12 of the Estate Duty Act, 1953 - Held, yes

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