Allahabad Court February 1975 Judgments
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Addl. Commissioner of Income-tax Vs. Dilsukh Rai Madho Prasad
Court: Allahabad
Decided on: Feb-03-1975
Reported in: [1977]108ITR299(All)
Agarwal, J. 1. The assessee-firm was originally constituted under a partnership deed, dated November 18, 1963. Kashi Prasad and six others were the partners of the aforesaid firm. Kashi Prasad died on May 4, 1965. A fresh partnership deed was, thereafter, executed on May 6, 1965, and a new firm consisting of six old partners and two new partners was constituted, having different shares in the partnership. The assessee-firm, thereafter, submitted two returns of its income for the following periods : (1) November 6, 1964, to May 5, 1965. (2) May 6, 1965, to October 24, 1965. 2. The Income-tax Officer issued a notice calling upon the assessee to show cause why the assessments should not be made on the firm as constituted at the time of making the assessment treating it as merely a change in the constitution of the firm in terms of Section 187 of the Income-tax Act. The assessee-firm filed a reply claiming that the old firm was dissolved on May 4, 1965, and, therefore, a new firm came int...
Addl. Commissioner of Income-tax Vs. Krishna Subh Karan
Court: Allahabad
Decided on: Feb-03-1975
Reported in: [1977]108ITR271(All)
C.S.P. Singh, J. 1. This is a reference under Section 256(1) of the Income-tax Act, 1961, of the following question by the Income-tax Appellate Tribunal, Allahabad : 'Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding that Clause (iii) of Sub-section (1) of Section 271 of the Income-tax Act, 1961, as substituted by the Finance Act, 1968, was not retrospective in effect and as such not applicable to theassessment years 1960-61 and 1961-62, even though the revised returns were filed after April 1, 1968 ?' 2. The facts leading up to this reference fall within a narrow compass. Two assessment years, viz., 1960-61 and 1961-62, are involved in the present reference. Returns for the assessment years 1960-61 and 1961-62 were filed by the assessee on June 9, 1960 and June 17, 1961, respectively. Assessments of these years were completed and, thereafter, in the course of proceedings for the assessment year 1963-64, the Income-tax Officer got...
Additional Commissioner of Income-tax Vs. Chaman Lal Punjabi
Court: Allahabad
Decided on: Feb-03-1975
Reported in: [1977]106ITR538(All)
1. The Income-tax Appellate Tribunal, Allahabad Bench, Allahabad, has referred the following question under Section 256(1) of the Income-tax Act, 1961, for our opinion : 'Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the amount of Rs. 9,141 was not profit arising out of an adventure in the nature of trade, but was receipt of casual and non-recurring nature ?' 2. The assessment year relevant for the present reference is the year 1959-60 and the assessee is a Hindu undivided family. An original assessment was made of income from cloth business and house property.Subsequently, it was discovered that the assessee had purchased a house in Shahjahanpur for Rs. 22,500 during the relevant accounting year. The price of this house was adjusted against the compensation claim of the face value of Rs. 22,500 which was purchased by the assessee for Rs. 13,359 in the open market. The Income-tax Appellate Tribunal took the view that the difference b...
The Commissioner of Income-tax, Lucknow Vs. M/S. Jugal Kishore Girdhar ...
Court: Allahabad
Decided on: Feb-03-1975
Reported in: (1976)5CTR(All)3
C. S. P. Singh, J. - The Income tax Appellate Tribunal, Allahabad Bench in compliance with our direction issued under section 256(2) of the Income tax Act, 1961 referred the following question for our answer :-'Whether on the facts and in the circumstances of the case the Income-tax Appellate Tribunal applied the Explanation to s. 271(1)(c) correctly and its finding that the penalty imposed by the Inspecting Assistant Commissioner was not sustainable is right in law ?'2. The facts leading to this reference are these. For the assessment year 1966-67, the Income-tax Officer rejected the amount book version of the assessee firm and estimated the sales at Rs. 2,50,000/- instead of the returned sale of Rs. 1,75,465/-. On the above sales, he applied a profit rate of 17.5%. As a result, an additional amount of Rs. 19,150/- was added as profit. The Income-tax Officer also added an amount of Rs. 16,000/- as income from undisclosed source. On appeal, the addition was reduced to Rs. 10.400/-. The...
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