Court : Andhra Pradesh
Reported in : [1967]64ITR516(AP)
This is an application filed under article 226 of the Constitution of India for the issue of a writ of prohibition directing the respondent to refrain from reassessing the income for the year 1956-57. It arises in the following circumstances :The petitioner who carries on money-lending business was assessed to a particular tax for the year 1956-57. The petitioner had filed the return and produce the account books and detailed money-lending statements. It is only on the basis of these returns and the statements and the account books that the assessment was made for the year on 9th July, 1956.After a lapse of a few years the impugned notice was given by the respondent on 19th December, 1964, under section 147 of the Income-tax Act, 1961, (hereinafter called the Act), proposing to reassess the income for the assessment year 1956-57. The validity of the notice is challenged mainly on the ground that the requirements of section 147(a) have not been satisfied, before the respondent assumed j...
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1968]67ITR271(AP)
This is an application under article 226 of the Constitution of India upon the issue of a writ of prohibition restraining the respondent from calling upon the petitioner to file statements of assets and liabilities in pursuance of the notice issued to her.The necessary facts are that the petitioner is an assessee for the assessment year 1962-63. During the course of the assessment year 1962-63 the respondent called upon the petitioner to file statements of all the assets and liabilities not included in the accounts in a pro-forma attached for 14 years ending 31st March of every year from 1949 to 1962. This letter was issued on January 24, 1964. This letter was sent under section 142 of the Income-tax Act, 1961 (hereinafter called the Act). It is contended by the petitioner that the respondent is not competent to ask for such material. It is on the other hand disputed by the respondent that he is competent to issue the letter and ask for the information in regard to the assessment which...
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1967]64ITR106(AP)
MANOHAR PERSHAD C.J. - These writ appeals are directed against the judgment of our learned brother, Justice Gopalkrishna Nair allowing Writ petitions Nos. 765/1963 and 1716 to 1724/64 and quashing the notice issued by the income-tax department.The facts leading to these appeals are : One Duvvuri Narayana Reddi of Kota village of Gudur Taluk in the Nellore district was an income-tax assessee for many years. He died on March 26, 1948, leaving behind him his widow, Ramanamma, and five daughters. On Narayan Reddis death, his widow Ramanamma, succeeded to his estate. Subsequently, misunderstanding appear to have arisen between Ramanamma and her daughters. One of the daughters, Sridevamma, instituted O. St. No. 20/1953 in the subordinate judges court, Nellore, for removal of Ramanamma from the management of the estate and for appointment of a receiver. In that suit, a commissioner was appointed to take an inventory. The commissioner went to the house where the widow lived and during the cour...
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1967]64ITR147(AP)
GOPALAKRISHNAN NAIR J. - This is a reference under section 27(1) of the Wealth-tax Act (XXVII of 1957). These assessee is the deceased Rani Saheba of Chemudu. She died on July 24, 1957, leaving a will dated July 20, 1957, under which she appointed her son-in-law, the Raja Saheb of Gangapur, as executor. In his capacity as executor, he filed the return of wealth under sub-section (2) of section 14 of the Wealth-tax Act in respect of the assessment year 1957-58 for which the relevant valuation date was March 31, 1957. The total wealth admitted was Rs. 11,36,378. The Wealth-tax Officer, however, computed the total net wealth of the assessee at Rs. 16,45,509. In doing so, the Wealth-tax officer included a sum of Rs. 4,40,400 in the total wealth overruling the objections of the assessee. The present reference relates to the validity of the inclusion of this amount in the total wealth of the assessee. One-half of this disputed amount viz., Rs. 2,20,200, paid to the assessee in the shape of d...
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1967]66ITR119(AP)
KUMARAYYA J. - This is a reference under section 66(2) of the Indian Income-tax Act, 1922. The question for decision is in the following terms :'Whether, on the facts and circumstances of the case, the sum of Rs. 19,795 (Rupees nineteen thousand seven hundred ninety-five) which represents the difference between the prices at which the properties were purchased and sold by the assessee could be regarded as income liable to be assessed.'On a former occasion when the case came up for hearing, this court, after hearing the parties, thought it necessary for a satisfactory decision, to require the Appellate Tribunal to furnish further information on the following two points : (1) whether the prices of the lands in the five instances were debited to the personal account of the assessee, or to the money-lending account or any other account; and (2) whether the separate account referred to in the statement of the case and in which the income from the lands and the expenditure therefor are said ...
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1968]67ITR329(AP)
BASI REDDY J. - The following question has been referred to us by the Income-tax Appellate Tribunal, Hyderabad Bench, at the instance of the assessee, under section 66 (1) of the Income-tax Act, 1922 :'Whether, on the facts and circumstances of the case, the loss of Rs. 47,250 was sustained in speculative transaction within the meaning of the first proviso to sub-section (1) of section 24, read with Explanations 1 and 2 and clause (a) of the proviso to Explanation 2 ?'The fact and circumstances which have occasioned this reference are as follows : The assessee is a Hindu undivided family and derives income from property and business. The assessees business consists in purchasing cotton kapas (raw cotton), ginning it and them selling the lint and cotton seeds. Between 21st October, 1956, and 4th April, 1957 (the relevant accounting year was the period from 3rd November, 1956, to 23rd October, 1957), the assessee entered into fourteen forward contracts with certain Bombay parties to sell...
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1967AP193; 1967CriLJ843
ORDER(1) One Edara Venkata Subbaiah, the sole respondent herein, filed a complaint against three accused alleging that they committed the offences of forgery etc., by fabricating a 'photograph' and presented the same before the Sub Registrar as a document in support of their evidence in certain proceedings. The complaint was taken on file and the case concerned is now pending as C.C. No. 141 of 1964 on the file of the Additional Munsif-Magistrate, Tenali. The three accused in that case filed this petition praying for the stay of all further proceedings in C.C. No. 141 of 1964 pending disposal of O.S. No. 95 of 1963 on the file of the Sub Court, Tenali.(2) For purposes of convenience, I am referring to the various parties by their denomination in C.C. No. 141 of 1964 hereafter in this order.(3) The relevant facts are as follows. Venkayamma was the mother of the complainant. A-3 is the sister of Venkayamma and also the mother of A-2 who is the wife of A-1. When Venkayamma was alive, the ...
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