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1981 (2) TMI 3
Deduction, Dividends ... ... ... ... ..... ve already pointed out that the reasons for the order have not been disclosed. The inspection has also not been allowed. The prescribed period for making an objection on the basis of the notices already served has expired. We do not know whether the site notices have been issued. The defect or impairment in the notice is incapable of cure and the period for commencement of action, namely, nine months from the date of transfer, has already expired. That defect is incapable of cure now, inasmuch as the Gazette notice printed on November 10, 1974, carries the ambivalence and indefiniteness expressed in the joint use of the conjunction and/or . Consequently, we do not think that it is possible for the Income-tax Department to take any action on the basis of the transaction dated May 14, 1973. The result of the aforesaid discussion is that the petitions must be allowed and the rule made absolute. We do not, however, think that the petitioner in each case is entitled to any costs.
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1981 (2) TMI 2
Whether it is open to the ITO while computing the liability of an assessee to tax under the Income-tax Act, 1961 (hereinafter referred to as " the Act "), to include in the income of the assessee any amount calculated in accordance with s. 23(2) of the Act in respect of a house in the occupation of the assessee for the purposes of his own residence - held that provisions charging income in respect of house in the occupation of assessee are constitutional valid
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1981 (2) TMI 1
Whether the transfer of the goodwill of a newly commenced business can give rise to a capital gain taxable under s. 45 - held that charging section and the computation provisions together constitute an integrated code - case to which the computation provisions cannot apply, such a case was not intended to fall within the charging section - held that transfer does not give rise to capital gains
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