Home Case Index All Cases Income Tax Section Wise 1988 1988 (5) This

Law	-- All -- GST Income Tax Benami Property Customs Corporate Laws Securities / SEBI Insolvency & Bankruptcy FEMA PMLA Service Tax Central Excise CST, VAT & Sales Tax Wealth tax Indian Laws
Court	-- Any -- Supreme Court SC Orders / Highlights High Court Appellate Tribunal Tribunal Appellate authority for Advance Ruling Advance Ruling Authority National Financial Reporting Authority Competition Commission of India ANTI-PROFITEERING AUTHORITY Commission Central Government Board DISTRICT/ SESSIONS Court Commissioner / Appellate Authority Other
Citation	--Year-- 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 1984 1983 1982 1981 1980 1979 1978 1977 1976 1975 1974 1973 1972 1971 1970 1969 1968 1967 1966 1965 1964 1963 1962 1961 1960 1959 1958 1957 1956 1955 1954 1953 1952 1951 1950 Upto 1949 - -Volume- 1 2 3 4 5 6 7 8 9 10 11 12 -
Landmark	Nil - N/A Referred in >= 3 Cases Referred in >= 4 Cases Referred in >= 5 Cases Referred in >= 10 Cases Referred in >= 15 Cases Referred in >= 25 Cases Referred in >= 50 Cases Referred in >= 100 Cases
Order by	TMI Citation Date of Decision

Advanced Search Options

Case Laws

Showing 181 to 194 of 194 Records

• 1988 (5) TMI 14 - ALLAHABAD HIGH COURT
  

  Search And Seizure, Writ Petition

  
  
  ... ...
  ... ... ..... counsel appearing on behalf of the Department, and the present writ petition is being finally disposed of in accordance with the rules of the court. After hearing learned counsel for the parties, we are of the opinion in view of the statement made by Sri Bharati Agarwal, senior standing counsel, that the application moved by the petitioner before the Inspecting Assistant Commissioner will be disposed of within a period of three weeks from the date of presentation of a certified copy of this order by the petitioner. The certified copy will be presented by the petitioner personally to the Inspecting Assistant Commissioner along with a copy of the writ peti tion. Subject to the aforesaid observations, we are of the opinion that the petitioner is not entitled to any further direction from this court. The writ petition is accordingly disposed of. A certified copy of this order shall be given to learned counsel for the parties on payment of usual charges within forty-eight hours.

  ---

• 1988 (5) TMI 13 - RAJASTHAN HIGH COURT
  
  ... ...
  ... ... ..... sion read along with the Explanation to section 5(1)(xxxi). Accordingly, a question of law arises in this behalf as well. Consequently, this application is allowed and the Tribunal is directed under section 27(3) of the Act to state the case and to refer to this court for its decision the following questions of law, namely (1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the onus of proof that the market value of the closing stock exceeded by more than 20 per cent. the value disclosed in the balance-sheet of the firm was on the Revenue, and the same not having been proved, rule 2B(2) of the Wealth-tax Rules, 1957, was not attracted ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee s interest in the firm is exempt under section 5(1)(xxxii) read with the Explanation to section 5(1)(xxxi) of the Wealth-tax Act, 1957 ? We direct accordingly. No costs.

  ---

• 1988 (5) TMI 12 - RAJASTHAN HIGH COURT
  

  Donation To Charitable Institution, Entertainment Expenditure

  
  
  ... ...
  ... ... ..... ition to be fulfilled for attracting section 80M in the above decision must equally apply for construing the condition on fulfilment of which section 80G is attracted. In this view of the matter, we are of the opinion that no case was made out for applying section 80G and giving to the assessee benefit of the deduction available thereunder when the assessee had declared loss and there was no income earned for the purpose of taxation, so as to require computation of the total income. The Tribunal s view on this point is, therefore, not justified. Consequently, the reference is answered partly in the affirmative and partly in the negative. The first question is answered in the affirmative, in favour of the assessee and against the Revenue by holding that the Tribunal s view on question No. 1 is justified. Question No. 2 is answered in the negative, against the assessee and in favour of the Revenue by holding that the Tribunal s view on this question is not justified. No costs.

  ---

• 1988 (5) TMI 11 - RAJASTHAN HIGH COURT
  

  Total Income

  
  
  ... ...
  ... ... ..... entative capacity as karta of the Hindu undivided family and it is only in computing the total income as an individual and not in the other capacity as karta of the Hindu undivided family that the income of the minor child of that individual can be clubbed in accordance with section 64(1)(iii) of the Income-tax Act, 1961. In other words, where the minor child s parent is the assessee in a representative capacity as karta of the Hindu undivided family and not as an individual, section 64(1)(iii) cannot be applied to club the income of the minor in computing the total income of the assessee-Hindu undivided family. The same being the view of the Tribunal, it has to be upheld. Consequently, the reference is answered in the affirmative against the Revenue and in favour of the assessee by holding that the Tribunal was justified in its view that clubbing of the share income of the minor, Nitesh Kumar, in the hands of the assessee-Hindu undivided family is not sustainable. No costs.

  ---

• 1988 (5) TMI 10 - RAJASTHAN HIGH COURT
  

  Total Income

  
  
  ... ...
  ... ... ..... Hindu undivided family and not an individual. The question is whether the share income of the minor, Narendra Kumar, son of the karta of the Hindu undivided family, who was admitted to the benefits of partnership in a firm is to be included in the income of the assessee-Hindu undivided family while computing the total income of the assessee-Hindu undivided family in accordance with section 64(1)(iii) of the Income-tax Act, 1961. In D. B. Income-tax Reference No. 12 of 1.981, CIT v. Abhay Kumar 1989 l79 ITR 363, decided by us today, we have held that section 64(1)(iii) of the Act applies where the minor child is of an individual who is the assessee as an individual and not where the assessee is a Hindu undivided family. The view of the Tribunal being in consonance with the above decision, it has to be upheld. Consequently, the reference is answered in the affirmative, against the Revenue and in favour of the assessee by holding that the Tribunal s view is justified. No costs.

  ---

• 1988 (5) TMI 9 - CALCUTTA HIGH COURT
  

  Lease, Reversionary Value, Valuation Officer, Wealth Tax

  
  
  ... ...
  ... ... ..... rroneous in so far as he directed the Wealth-tax Officer to reconsider the question whether the assessee s right to get a flat in the property to be constructed is a valuable asset or not. As I have held, even if it is an asset for the purpose of inclusion in the wealth, its value is not capable of being quantified in terms of money unless, in fact, such flat is obtained by the assessee. In the result, this application succeeds. The report of the Valuation Officer dated September 3, 1987, is set aside and quashed. The order of the Commissioner of Income-tax, dated February 17, 1987, made under section 25(2) of the Wealth-tax Act, 1957, will stand set aside to the extent indicated above. This order will, however, not prevent the respondents from proceeding in accordance with law in the light of the observations made in the judgment and in determining the value of the property in question. All parties shall act on a signed copy of the operative part of this judgment and order.

  ---

• 1988 (5) TMI 8 - RAJASTHAN HIGH COURT
  

  Business Expenditure, Entertainment Expenditure

  
  
  ... ...
  ... ... ..... of the Income-tax Act, 1961 ? The relevant assessment year is 1975-76. The point for decision is covered by the decisions in Pratap Cotton Trading Co. v. CIT 1987 167 ITR 36 (Raj) and Mangilal Vijay Kota v. CIT 1987 167 ITR 37 (Raj). The Tribunal s view being the same has to be upheld. Consequently, the reference is answered in the affirmative against the Revenue and in favour of the assessee by holding that the Tribunal s view is justified. No costs.

  ---

• 1988 (5) TMI 7 - RAJASTHAN HIGH COURT
  

  Business Expenditure

  
  
  ... ...
  ... ... ..... evant accounting period. The assessee, therefore, contended that two assessments were required to be made, one for the period up to the death of the partner and the other for the period subsequent to it, because it was a case of succession governed by section 188 of the Act and not a mere change in the constitution of the firm to which section 187(2) applies. The case is admittedly governed by the proviso inserted in section 187(2) of the Act by the Taxation Laws (Amendment) Act, 1984, with effect from April 1, 1975. Admittedly, there was no contract to the contrary and, therefore, in accordance with section 42(c) of the Partnership Act, the firm was dissolved on the death of one of its partners. In such a situation, section 187(2) has no application. (CIT v. Assumal Veerumal 1988 170 ITR 489 (Raj)). Consequently, this reference has to be answered in the affirmative, against the Revenue and in favour of the assessee by holding that the Tribunal s view is justified. No costs.

  ---

• 1988 (5) TMI 6 - SUPREME COURT
  

  As per provisions of Central IT law the State Legislature has no power to impose Agricultural IT on more than 60% of the income from growing and manufacturing of Tea

  ---

• 1988 (5) TMI 5 - SUPREME COURT
  

  Whether the loan, "Qua-Raza-E-Hasana" is includible in assessee's net wealth - Whether Tribunal was justified in accepting that the amount of Rs. 4 lakhs was in the nature of 'Quaraza-e-Hasana' - Whether, Tribunal was justified in holding that the amount of Rs. 4 lakhs cannot be included in the total assets of the assessee

  ---

• 1988 (5) TMI 4 - SUPREME COURT
  

  Effect of Retrospective Amendment of Bye-laws - Whether the sum credited during the year of account to the loss equalisation and capital redemption reserve fund by deposits received from producer members of the society under clause 50 of its bye-laws is of revenue nature assessable to tax - Whether, Tribunal was right in holding that the amount was not a revenue receipt liable to tax

  ---

• 1988 (5) TMI 3 - SUPREME COURT
  

  Whether the land sold by the assessee constituted a capital asset within the meaning of section 12B of the Indian Income-tax Act or was agricultural land as defined in section 2(4A) of the Act - Whether the transaction of lease effected by the assessee amounted to a transfer within the meaning of section 12B so as to attract liability for capital gains tax - Whether an issue not considered by the Tribunal can be raised before Supreme Court

  ---

• 1988 (5) TMI 2 - SUPREME COURT
  

  Expenditure incurred by the assessee on providing water pipelines and electricity facility to municipality - capital expenditure - Whether, the expenditure of Rs. 2,09,459, or any portion thereof, incurred by the company in the accounting period relevant to the assessment year 1959-60 was allowable as deduction in determining the profits of the company for the assessment year 1959-60

  ---

• 1988 (5) TMI 1 - SUPREME COURT
  

  Income-Tax authorities cannot be prevented from relying on the Evidence Act - if assessee was found to be in possession of some goods, he can be presumed to be its owner - no explanation by assessee to rebut the above presumption - application of section69A is valid - assessee was found to be in possession of some goods, can he presumed to be its owner

  ---

1 ....678910