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Showing 41 to 52 of 52 Records
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1970 (7) TMI 12 - ALLAHABAD HIGH COURT
Whether the amount due on account of interest charged from Jagannath, working partner, and which was written off because it could not be recovered, can be allowed as a deduction from the total income of the previous year because the receipt of the said interest was included in the total income of the respective years being revenue receipts
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1970 (7) TMI 11 - ALLAHABAD HIGH COURT
Assessment - reasonable opportunity - production of evidence to show that deposit was a genuine - ITO must give reasonable opportunity to the assessee to produce evidence and it is his duty to assess the assessee to produce the evidence in support of his claim
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1970 (7) TMI 10 - ALLAHABAD HIGH COURT
Admissibility of a sum of Rs. 89,241 as an outgoing against the profits earned by the firm -loss of security deposits kept with the sole selling agents - since assessee received interest after termination of agency, loss is incidental to business of assessee, hence allowable under section 10(1)
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1970 (7) TMI 9 - ALLAHABAD HIGH COURT
Surplus from sale of shares - assessee has no intention at any time to use his shareholding at his stock-in-trade and make a profit by sale - purpose of sale was to change investments - therefore, surplus received is capital accretion not profit of business
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1970 (7) TMI 8 - KARNATAKA HIGH COURT
Mysore Agricultural Income Tax Act - mistake apparent on face of record - share of a minor child is included in the share of mother - assessment may be rectified u/s 37(2)(b)
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1970 (7) TMI 7 - ALLAHABAD HIGH COURT
Preliminary expenses - part of the expenditure incurred by the directors - allowability - expenditure cannot be disallowed as capital expenditure
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1970 (7) TMI 6 - ALLAHABAD HIGH COURT
Estate Duty Act, 1953 - deceased had executed a deed of transfer in respect of property conveying the same to his son -son providing for an annuity to father - held that since applicant is a accountable person, applicant is liable for estate duty on that property
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1970 (7) TMI 5 - ALLAHABAD HIGH COURT
Wealth Tax Act, 1957 - assessee was previously the ruler of a Native State called the Banaras State - agreement between the Governor-General of India and the assessee - agreement of merger - as per agreement ruler is exempted from all taxation in respect of property - held that value of palace was rightly included in the net wealth of the assessee
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1970 (7) TMI 4 - ALLAHABAD HIGH COURT
Validity of an action of the executive authorities - appellant filed a suit for damages for the humiliation caused to him by his illegal arrest and detention - plea subsequently taken was that the defendants were entitled to the protection of the provisions of section 67 - held that recovery officer is protected by s. 67, IT Act
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1970 (7) TMI 3 - CALCUTTA HIGH COURT
NOTICE UNDER SECTION 274 READ WITH SECTION 271OF THE INCOME-TAX ACT, 1961
... ... ... ... ..... iew that I have taken, there is no infringement or contravention of any statutory duty with regard to the issue of the notice. Therefore, the only notice that the petitioner is entitled to be relieved against is the notice issued by the Inspecting Assistant Commissioner on the 24th February, 1967, under section 274(2) read with section 271 of the Act. In the result, this application succeeds and the rule is made absolute to the extent indicated above. There will be a writ in the nature of mandamus directing the respondent No. 2 to forthwith recall, cancel and withdraw the notice dated the 24th February, 1967, issued under section 274(2) read with section 271 of the Income-tax Act, 1961, for the assessment year 1963-64. There will also be a writ in the nature of prohibition restraining the respondents to forbear from giving effect to or taking any steps in pursuance of the notice dated the 24th February, 1967, issued by the respondent No. 2. There will be no order as to costs.
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1970 (7) TMI 2 - SUPREME COURT
Rectification of Mistake - income of minor sons can not be included after partition in the income of H assessed as a HUF - Sec. 16(3)(a)(ii) not applicable
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1970 (7) TMI 1 - SUPREME COURT
Partnership deed - validity - Two coparceners partners representing interest of family - deed cannot be said invalid merely because two or more of the persons who have so agreed are members of a HUF
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