Andhra Pradesh Court October 1984 Judgments
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Commissioner of Income-tax, Andhra Pradesh Vs. Chodavaram Co-operative ...
Court: Andhra Pradesh
Decided on: Oct-09-1984
Reported in: (1985)49CTR(AP)295; [1987]163ITR420(AP)
Y.V. Anjaneyulu, J. 1. Under section 256(1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal referred the following three questions for consideration of this court : '(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in holding that the interest paid by the assessee to the Government on arrears of purchase tax would constitute an admissible deduction for 1973-74 and 1974-75 (2) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the assessee was entitled to deduction under section 36(1)(iii) in respect of interest on purchase tax loan for the assessment years 1973-74 and 1974-75 (3) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the amount of Rs. 8,75,277 did not belong to the assessee and that it was not a trading receipt for the assessment years 1973-74 and 1974-75 ?' 2. So far as questio...
Commissioner of Income-tax, Andhra Pradesh-ii, Hyderabad Vs. K.D.P.M. ...
Court: Andhra Pradesh
Decided on: Oct-09-1984
Reported in: [1986]157ITR247(AP)
Anjaneyulu, J.1. The Income-tax Appellate Tribunal referred the following question of law to this court for its opinion under section 256(1) of the Income-tax Act, 1961 : 'Whether, on the facts and in the circumstances of the case and in view of s. 187(2)(a) of the I.T. Act, 1961, a single assessment could not be made on the aggregate of the income for the two periods and the tax charged on such aggregate income ?'2. The assessee was a partnership consisting of eleven partners. It was constituted under a deed of partnership executed on February 6, 1962. Out of the eleven partners, one partner, K. Subbarao died on September 3, 1971. For the income-tax assessment year 1972-73, the assessee filed two income-tax returns, one for the period January 1, 1971, to September, 3, 1971, relating to the partnership firm of eleven partners and another for the period September 4, 1971, to December 31, 1971, relating to the partnership firm which came into existence after the death of K. Subbarao. It ...
N.T.R. Estate Vs. Commissioner of Income-tax
Court: Andhra Pradesh
Decided on: Oct-08-1984
Reported in: (1985)49CTR(AP)85; [1986]157ITR285(AP)
Y.V. Anjaneyulu, J.1. The Income-tax Appellate Tribunal has referred the following questions of law for consideration of this court under section 256(1) of the Income-tax Act, 1961 (for short 'the Act') : '1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the interest payments of Rs. 66,671 in the assessment year 1973-74 and Rs. 75,810 in the assessment year 1974-75 are attracted by section 40(b) of the Income-tax Act, 1961, and are not deductible 2. Whether, on the facts and in lie circumstances of the case, the Tribunal was right in holding that the salary payments of Rs. 15,000 in the assessment year 1973-74 and Rs. 24,000 in the assessment year 1974-75 are attracted by section 40(b) of the Income-tax Act, 1961, and are not deductible ?' 2. The assessee is a partnership firm consisting of eight partners. During the accounting year relevant to assessment years 1973-74 and 1974-75, the partnership firm paid interest to four out of t...
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