Allahabad Court October 2004 Judgments
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Commissioner of Income-tax Vs. Prakash Textiles Agents
Court: Allahabad
Decided on: Oct-01-2004
Reported in: [2005]276ITR582(All)
1. The Income-tax Appellate Tribunal, Delhi, has referred the following two questions of law under Section 256(1) of the Income-tax Act, 1961, hereinafter referred to as 'the Act', for the opinion of this court :'1. Whether, on the facts and in the circumstances of the case, the Tribunal was legally correct in holding that even if there was merely a change in the constitution of the firm within the meaning of Section 187(2) of the Act, the Income-tax Officer was duty bound in law to make the separate assessments in respect of the two periods and in further directing the Income-tax Officer to exclude from the assessment the income pertaining to first period ?2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in directing the Income-tax Officer to allow renewal of registration for the assessment year under consideration in respect of the previous year period from May 1, 1974, to March 2, 1975 ?'2. Briefly stated the facts giving rise to the prese...
Cit Vs. Kanpur Sahkari Milk Board Ltd.
Court: Allahabad
Decided on: Oct-01-2004
Reported in: [2005]144TAXMAN779(All)
ORDERThe Income Tax Appellate Tribunal, Allahabad has referred the following question of law under section 256(1) of the Income Tax Act, 1961 (hereinafter referred to as the Act) for opinion to this Court:'Whether on the facts and in the circumstances of the case the Income-tax Appellate Tribunal was correct in law in holding that the grant of' Rs. 0.5 lakh from the U.P. Government was a capital receipt and not a revenue receipt in nature?'2. Briefly stated that facts giving rise to the present reference are as follows:The respondent assessee is a co-operative society engaged in the business of milk, ghee and butter etc. During the assessment year 1978-79 it had received a grant of Rs. 0.5 Lakhs from the Governor of U.P. vide Government order dated 3-3-1997 for the re-organisation of the society and was to be utilized specifically as working capital and for no other purpose. The assessing officer was of the view that the income from Government subscriptions, contributions and donations...
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