GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
What's New Case Laws Highlights Articles News Forum Short Notes Statutory TMI SMS More ...
Extracts
Home List
← Previous Next →

1964 (12) TMI 56 - MADRAS HIGH COURT

1964 (12) TMI 56 - MADRAS HIGH COURT - [1966] 60 ITR 563 - Tax Case No. 33 of 1962 - Dated:- 15-12-1964 - Srinivasan And Venkatadri, JJ. For the Assessee : S. Narayanaswami and T. V. Ramanathan For the Commissioner : V. Balasubrahmanyan JUDGMENT Srinivasan, J. The question that stands referred to us is: "Whether there was no material for the Tribunal to hold that ₹ 50,000 was the income of the assessee assessable to tax under the provisions of the Income-tax Act in the assessment year .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the Bank of India at Palanpur. Originally, the entire sum of ₹ 1,50,000 was brought in for assessment in proceedings under section 34 of the Act, but, ultimately, the Tribunal directed the exclusion of two sums of ₹ 50,000, but sustained the addition of only one sum of ₹ 50,000, which stood as fixed deposit in the name of the assessee and his son. It is not in dispute that this sum belongs to the assessee. In explanation of this deposit, the assessee stated that he had been wi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he cash balance of ₹ 30,800 had been shown in his wealth statement filed in October, 1944. With regard to the sale of jewellery, the Income-tax Officer found that there had been considerable delay in furnishing specific details, that the evidence of the person to whom the jewellery is said to have been sold was not satisfactory and that the raising of this amount in the manner claimed could not be credited. In conclusion, the Income-tax Officer said that the assessee had no source of incom .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

or making the deposit in 1947. Nor was it prepared to accept the evidence of the person who claimed to have purchased the jewels. It observed that though the money had been banked in the Native State, the business of the assessee was all in British India, and that though the department had not proved positively that the assessee had any other particular source of income, it stood to reason that the bulk of the money should have been made in India. It confirmed the inclusion of this sum of ₹ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

is argument to the conclusion reached by the Tribunal that the amount in question must have been derived from sources in the taxable territory. It is urged by him that it is for the department to establish in these circumstances that the sum was derived from the taxable territories, that there is no evidence which would justify any such conclusion, that it is only a conjecture which had been made by the Tribunal and that therefore the order of the Tribunal cannot stand. This is the short questio .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Advanced Search


Latest Notifications:

    Dated      Category

20-7-2017 Cus (NT)

20-7-2017 IT

20-7-2017 GST CESS Rate

19-7-2017 IT

19-7-2017 IT

18-7-2017 IT

18-7-2017 CE (NT)

18-7-2017 CE

18-7-2017 GST CESS Rate

15-7-2017 Kerala SGST

14-7-2017 Andhra Pradesh SGST

14-7-2017 Cus (NT)

14-7-2017 Cus

13-7-2017 Co. Law

13-7-2017 Co. Law

13-7-2017 ADD

13-7-2017 ADD

12-7-2017 Jammu & Kashmir SGST

12-7-2017 Gujarat SGST

12-7-2017 Gujarat SGST

More Notifications


Latest Circulars:

21-7-2017 Goods and Services Tax

20-7-2017 Goods and Services Tax

20-7-2017 Goods and Services Tax

19-7-2017 Goods and Services Tax

19-7-2017 Income Tax

18-7-2017 Customs

17-7-2017 Customs

14-7-2017 Income Tax

13-7-2017 Central Excise

13-7-2017 Customs

More Circulars



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version