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Case Laws
Showing 181 to 192 of 192 Records
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1993 (12) TMI 12 - GUJARAT HIGH COURT
High Court, Indirect Transfer, Question Of Law, Sale Proceeds, Total Income ... ... ... ... ..... r of the wife by the assessee must be otherwise than for adequate consideration and (iii) The income in question should have arisen or accrued to the wife directly or indirectly from the assets transferred to her by her husband. In our view, all the conditions mentioned in section 64(1)(iii) stand satisfied on the facts of the present case and, therefore, the Income-tax Officer was justified in adding the amounts of Rs. 2,860 and Rs. 7,195 to the income of the assessee while working out the assessee s income for the assessment year 1974-75. We are of the opinion that, on the facts and in the circumstances of the case, the Tribunal was not right in law in confirming the order of the Appellate Assistant Commissioner deleting the addition of Rs. 7,195 as income of the assessee under section 64. Question No. 2 referred to us is answered in the negative, i.e., in favour of the Revenue and against the assessee. The reference stands disposed of accordingly with no order as to costs.
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1993 (12) TMI 11 - BOMBAY HIGH COURT
Capital Gains, Income From Other Sources, Portuguese Civil Code ... ... ... ... ..... ject or motive of constituting themselves as joint holders of the property. The communion of property was a necessary incidence of marriage, but it cannot be regarded as the object or purpose of marriage. Hence, no association of persons could have come into being as a result of the marriage of the two assessees in the absence of any ante-nuptial agreement to that effect. The court, therefore, held that wealth-tax exemption under section 5 of the Wealth-tax Act is admissible to each one of the spouses as individuals. We make it clear that in the present reference, we are not concerned with business income arising to the communion and hence we are not concerned with the judgment of the Division Bench of Dr. Saraf and U. T. Shah JJ., dated April 22/23, 1993, in Income-tax Reference No. 124 of 1980, in so far as it deals with business income. In the premises, the question which is referred to us is answered in the affirmative and in favour of the assessees. No order as to costs.
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1993 (12) TMI 10 - GUJARAT HIGH COURT
Advance Tax, Penalty Or Interest, Set On, Wilful Attempt To Evade Tax ... ... ... ... ..... attempts in any manner whatsoever to evade the payment of any tax, penalty or interest under this Act and not otherwise. The complaint is for offences punishable under section 276C(2) of the Act. In view of what is discussed above, it is very clear that there is not even a whisper that there is wilful attempt in any manner whatsoever to evade the payment of tax and hence the process issued is required to be quashed and is hereby quashed. So far as Miscellaneous Criminal Application No. 2126 of 1989 is concerned, it arises out of Criminal Case No. 340 of 1986 filed by respondent No. 2 in the Court of the Chief Metropolitan Magistrate. The facts are similar to that of Miscellaneous Criminal Application No. 2125 of 1989, except the year of assessment, tax amounts, and that the return was filed without being called upon by the Department. Hence, in view of what is stated above, the process issued in this case also is required to be quashed. Rule made absolute in both the matters.
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1993 (12) TMI 9 - GUJARAT HIGH COURT
Failure To Deduct Tax At Source, Representative Assessee ... ... ... ... ..... be the same as that payable by each beneficiary in respect of his beneficial interest, if he were assessed directly. Vide Padmavati Jaykrishna Trust v. CWT 1966 61 ITR 66 at 73, 74 (Guj) Trustees of Putlibai R. F. Mulla Trust v. CWT 1967 66 ITR 653 at 657, 658 (Bom) and Chintamani Ghosh Trust v. CWT 1971 80 ITR 331 at page 341 (All). In view of the legal position, the submissions of Mr. Thakore, for the complainant cannot be accepted. In view of this position, it is clear that section 194A of the Income-tax Act, 1961, will not be applicable to the present cases and obviously there is no question of deduction of tax from the interest amount credited to the account of payees or of paying the tax after deduction. Hence, there is no question of any offence alleged to have been committed by the petitioners as referred in the complaint. Hence, the process issued against the accused requires to be quashed and is hereby quashed. Applications dismissed. Rule made absolute accordingly.
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1993 (12) TMI 8 - PUNJAB AND HARYANA HIGH COURT
Capital Reserve, Computation Of Capital, Income Tax Act, Reserve For Gratuity ... ... ... ... ..... endered in Income-tax References Nos. 27 and 28 of 1981, reference to two citations has been made incorrectly and unnecessarily. The two questions arising in the case already stood covered by the decision of this court in the case of CIT v. Avery Cycle Industries (P.) Ltd. (No. 1) 1989 178 ITR 173. The other two cases, CIT v. Usha Aggarwal 1989 178 ITR 406 and CIT v. Tej Cloth Weaving Factory 1989 178 ITR 474, were on different points. After perusal of these references, we notice that there was no need for making reference for the two later cases. Thus reference to these two cases is scored off from the judgment which will not affect the merits of the case as being unnecessary. In this respect, a letter be written to the Company Law Institute of India Pvt. Ltd., 88, Thyagaraya Road, T. Nagar, Madras-600 017, informing that reference to the two cases, 1989 178 ITR 406 and 1989 178 ITR 474, has been deleted in the judgment, with copy to Shri S. S. Mahajan, Advocate, Chandigarh.
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1993 (12) TMI 7 - MADRAS HIGH COURT
Agricultural Income, Total Income ... ... ... ... ..... ry but is only an attempt to proportion the payment to capacity to pay and then arrive, in the end, at a more genuine equality. Assessees with agricultural income form a class by themselves. Therefore, the provisions of the Finance Act, 1976, relating to aggregation of agricultural income with total income for rate purposes are not unconstitutional and do not violate articles 14 and 19 of the Constitution. The provisions are within the legislative competence of Parliament. As I am in respectful agreement with the views expressed by the above Division Bench judgments, I need not once again repeat the same while upholding the constitutional validity of section 2(2) of the Finance Act, 1977. Applying the ratios laid down in the above two Division Bench judgments, I hold that the provisions impugned in these writ petitions is well within the legislative competence of Parliament and accordingly the writ petitions fail and are dismissed. However, there will be no order as to costs.
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1993 (12) TMI 6 - BOMBAY HIGH COURT
Charitable Institution ... ... ... ... ..... igh Courts of Madras, Gujarat and Karnataka in the above referred cases. It shall have to be decided in each case as to whether the assessee fulfilled the conditions of eligibility for exemption as discussed above. Having regard to the admitted and proved facts of this case, it is obvious that the assessee did not use the original house mainly as a residential house for himself or his parents during the period of two years immediately prior to the date of the transfer. The parents of the assessee used the said flat only for a period of two months prior to the date of the transfer. The assessee did not satisfy the requirement of the said section as interpreted by us. The assessee was, thus, not entitled to avail of the exemption in terms of section 54 as it then stood. In view of the above discussion, we answer the question referred to us in the negative and in favour of the Revenue. Having regard to the facts and circumstances of the case, there shall be no order as to costs.
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1993 (12) TMI 5 - GUJARAT HIGH COURT
Business Expenditure, Wholly And Exclusively ... ... ... ... ..... Act. So far as this submission is concerned, we note that the said decision has no application to the question referred to this court. Even if it is assumed that Smt. Kamalini had undertaken the tour at the instance of the company, that would not indicate that the expenditure was incurred by the assessee-company. The question whether the assessee-company had incurred expenditure on the foreign tour of Smt. Kamalini Sarabhai wholly and exclusively for the purpose of the business of the assessee never fell for consideration of the court in the said decision and in fact that question is not decided by the said decision. As noted earlier, nothing has been produced on the record of the case by the assessee-company to indicate that the foreign tour of Smt. Kamalini Sarabhai was wholly and exclusively for the purpose of the assessee-company. In the circumstances, the finding recorded in the said decision is of no avail to the assessee and it does not help the assessee in any manner.
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1993 (12) TMI 4 - MADRAS HIGH COURT
Waiver Of Interest ... ... ... ... ..... med to be a quasi-judicial Tribunal for the purpose under consideration, should see that no principles of natural justice are violated or no set prescriptions of law are ignored and that in any event he should judicially view the entire material before him and thereafter exercise his so-called discretion judiciously under this sub-clause. I have already found in this case, on the facts, that there is no violation of the principles of natural justice. Therefore, this judgment,in K. C. Vedadri v. CIT 1973 87 ITR 76 has no application to the facts of this case. The Kerala High Court in P. A. Mohammed Abdul Khader and Co. v. CIT 1978 112 ITR 552, on the scope of section 273A of the Act, has held that unless the conditions precedent contemplated under section 273A of the Act are complied with, the assessee cannot invoke the provisions of that section. This ratio squarely applies to the facts of the case on hand. In the result, the writ petition fails and it is dismissed. No costs.
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1993 (12) TMI 3 - BOMBAY HIGH COURT
Business Expenditure, Diversion Of Income, Income By Overriding Title, Income Tax Act, Sale Proceeds, Statutory Order
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1993 (12) TMI 2 - BOMBAY HIGH COURT
Business Expenditure ... ... ... ... ..... to Mr. V. P. Kamat in the sum of Rs. 67,500 is not includible under either of the provisions, i.e., section 40(c) or section 40A(5) of the Act. The said expenditure is beyond the scope and ambit of the said provisions. In our opinion, the expenditure incurred on payment of retirement gratuity is deductible under section 37(1) of the Income-tax Act, 1961. We accordingly, answer question No. 3 in the terms aforesaid and in favour of the assessee. In view of our answer to questions Nos. 1, 2 and 3, questions Nos. 4 and 5 do not survive, We accordingly, decline to answer questions Nos. 4 and 5. As regards question No. 6, the said question is a consequential question. We direct the Tribunal to recompute the amount of disallowance after excluding the item of payment of gratuity and on the footing that the aggregate ceiling in a sum of Rs. 72,000 is applicable to the case of the assessee. Having regard to the facts and circumstances of the case, there shall be no order as to costs.
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1993 (12) TMI 1 - SC ORDER
Whether the Commissioner of Income-tax, in the facts and circumstances of the case, was justified in refusing to exercise his power under section 273A of the Act was a question which was required to be examined on the merits - case is remanded - order of HC is accordingly set aside
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