Andhra Pradesh Court March 1984 Judgments
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Commissioner of Income-tax, Andhra Pradesh Vs. Chandulal
Court: Andhra Pradesh
Decided on: Mar-27-1984
Reported in: (1985)48CTR(AP)23; [1985]152ITR238(AP)
Anjaneyulu, J.1. The Income-tax Appellate Tribunal has refer the following question of law for the opinion of this court under s. 256(1) - of the I.T. Act, 1961 : 'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in law in quashing the order of penalty ?'2. The matter relates to the income-tax assessment year 1968-69. The assessee filed a return declaring income of Rs. 2,321 from business. During the course of investigation, the ITO found that, in the previous year relevant to the assessment year 1968-69, the assessee advanced loans to five individuals aggregating to Rs. 6,900. These loans were not recorded in the assessee's book of account. The ITO observed that the peak amount of the loans advanced to the five individuals was Rs, 3,200 in as much as there were some repayments by the individuals and fresh advances. The ITO also found that a sum of Rs. 5,000 advanced to one Shri Miraz Ali Khan on August 10, 1967, was also not entered in th...
Commissioner of Income-tax Vs. Guntur District Co-operative Marketing ...
Court: Andhra Pradesh
Decided on: Mar-27-1984
Reported in: (1985)45CTR(AP)197; [1985]154ITR799(AP)
Anjaneyulu, J.1. A short but interesting question arises in this reference made by the Income-tax Appellate Tribunal under s. 256(1) of the I.T. Act, 1961 (for short 'the Act') The question referred is : 'Whether, on the facts and in the circumstances of the case, the assessee is eligible for the exemption under section 80P(2)(a)(iv) of the Income-tax Act, 1961 ?' 2. The assessee is the Guntur District Co-operative Marketing society. It carries on business, inter alia, in the supply of fertilisers to its members as well as non-members under a scheme devised by the Government of Andhra Pradesh in G.O. Ms. No. 541, Food and Agriculture Department, dated 7th March, 1974. The assessee's accounts are closed on 30th June of each year. In the previous year relevant for the assessment year 1970-71, the assessee supplied fertilisers of the value of Rs. 36,76,327 to its members; the value of fertilisers supplied to non-members was Rs. 83,13,73. In the income-tax return filed for the assessment y...
K.U. Srinivasa Rao Vs. Commissioner of Wealth Tax
Court: Andhra Pradesh
Decided on: Mar-27-1984
Reported in: (1985)46CTR(AP)256; [1985]152ITR128(AP)
Jeevan Reddy, J.1. In these two applications, the assessee is requesting this Court to refer the following three questions for the opinion of this Court under s. 27(3) of the WT Act : '1. (a) Whether, the right to receive the kist in respect of Kalipatnam estate which is in dispute on the valuation date can be taken as an asset (b) Whether, the interest on the kist which is in dispute in the Civil Court can be taken as an asset (c) If the answer to the above (a) and (b) points is in the affirmative, whether 50% of the kist amount and interest thereon claimed by the plaintiffs represent the market value as on the valuation date though the matter is still in dispute in the court on the valuation date 2. (a) Whether, the interest awarded by the Civil Court under s. 28 of the Land Acquisition Act in respect of the Rajahmundry lands, can be included in the net wealth till it is finally determined by the court (b) In the circumstances of the case, whether 50% of the enhanced compensation...
G. Narsi Reddy and ors. Vs. District Collector, Guntur and ors.
Court: Andhra Pradesh
Decided on: Mar-27-1984
Reported in: AIR1984AP335
Reddy, C.J. 1. The acquisition of Acs. 4-66 cents in Survey No. 177 and Acs. 4-59 cents in Survey No. 176 of Ramidicherla Village which was published under S. 4(1) notification on 11-7-1977 in the official gazette was called in question by the appellants herein in Writ Petition No. 5335 of 1979. That writ petition was dismissed by a judgment dt. 6-9-1982. Aggrieved by the judgment, the writ petitioners preferred an appeal on 1-9-1983. Along with the appeal they filed a petition W. P. M. P. No. 1466 of 1983 to condone the delay of 266 days in preferring the appeal. The petition for condonation of delay was supported by a medical certificate in which it is stated that the petitioner met with an accident. Notice was served on the respondents. But, no counter affidavit was filed. Therefore, the petition for condonation of delay in preferring the appeal was allowed. Thereafter, the learned Counsel for the appellants represented that the points arising in the Writ Appeals are covered by a Fu...
Commissioner of Income-tax, Andhra Pradesh Vs. Balaji Chitra Mandir
Court: Andhra Pradesh
Decided on: Mar-23-1984
Reported in: (1985)45CTR(AP)206; [1985]154ITR777(AP)
Anjaneyulu, J. 1. The Income-tax Appellate Tribunal referred the following question of law under s. 256(1) of the I.T. Act (for short 'the Act') for the opinion of this court : 'Whether, on the facts and in the circumstances of the case, the amount of Rs. 40,000 received by the assessee as a forfeiture of security deposit is a revenue receipt ?' 2. The assessee is a partnership firm and the assessment relates to the year 1973-74. The assessee was carrying on business in the exhibition of cinema films. On August 25, 1968, the assessee-firm leased the cinema hall to M/s. K. Bhakthavatsalam and another (hereinafter referred to as 'the lessee') for a period of 151 weeks subject to the payment of weekly rent of Rs. 3,521. A sum of Rs. 40,000 was deposited by the lessee with the assessee as security under the agreement. Under clause 6 of the agreement, the amount of Rs. 40,000 shall be returned to the lessee one week before the date of termination of the agreement. If the assessee fails to r...
Commissioner of Income-tax Vs. Rajah Dhanrajgiriji
Court: Andhra Pradesh
Decided on: Mar-18-1984
Reported in: (1985)45CTR(AP)53; [1985]154ITR719(AP)
Jeevan Reddy, J.1. The following question is referred for our opinion under s. 256(1) of the I.T. Act, 1961 : 'Whether, on the facts and the in the circumstances of the case, the interest as claimed is deductible under section 24(1)(iv) of the Income tax Act ?' 2. The assessee was deriving income from different sources including house property. He owned two houses, viz., on me at Bombay know as 'Dhanraj Mahal' and another at Pune known as 'Pudumjee Terrace'. The assessee had raised certain loans both for the purpose of constructing the said houses and also to meet his personal needs. While it is not necessary to set out the history of the dealings between the assessee and his creditors, it is sufficient to mention thatm, so far so the house 'Dhanraj Mahal' at Bombay is concerned, a suit (O.S. No. 452 of 1954) was filed by the creditor, M/s. Secunderabad Trading Syndicate, represented by Sri. M. M. Malani, against the assessee. The suit was decreed and the suit property was brought to s...
Commissioner of Income-tax Vs. Warner Hindustan Ltd.
Court: Andhra Pradesh
Decided on: Mar-17-1984
Reported in: [1987]165ITR403(AP)
Y.V. Anjaneyulu J.1. The following two questions are referred to this court under section 256(1) of the Income-tax Act, 1961, for its opinion by the Income-tax Appellate Tribunal : '1. Whether, on the acts and in the circumstances of the case, the appeal against the order of the Income-tax Officer giving effect to the directions given by the Appellate Assistant Commissioner is maintainable ? 2. Whether, on the facts and in the circumstances of the case, relief under section 80J of the Income-tax Act, 1961, could be given for the entire period of 12 months notwithstanding the fact that the unit in question worked for a part of the year only ?' 2. Learned counsel for the Revenue fairly conceded that the first question is covered by a decision in the assessee's case in CIT v. Warner Hindustan Ltd. : [1979]117ITR15(AP) in favour of the assessee. We accordingly answer the the question in the affirmative, i.e., in favour of the assessee and against the Department. 3. Regarding the second que...
Commissioner of Income-tax, Andhra Pradesh, Hyderabad Vs. Zaibunnisa B ...
Court: Andhra Pradesh
Decided on: Mar-17-1984
Reported in: (1985)46CTR(AP)48; [1985]151ITR320(AP)
Y.V. Anjaneyulu, J. 1. Two questions are referred to this court by the Income-tax Appellate Tribunal under s. 256(1) of the I.T. Act, 1961 : '(1) Whether, on the facts and in the circumstances of the case, the entire land or any part of it could be treated appurtenant to the building for the purpose of applying the provisions of section 54 of the Income-tax Act, 1961 (2) Whether the department was justified in reading 'reasonableness' before the words 'land appurtenant thereto' in section 54 of the Income-tax Act and whether the Tribunal was right in repelling such an interpretation 2. The matter relates to the assessment year 1964-65. The assessee and her three sisters were the joint owners of house property consisting of a fairly large building and extensive land, each one owning 1/4th share. The building has a built-up area of 17,136 sq. ft. and the total extent of land including the land on which the building stands is 13,029 sq. yards. The building as well as the entire extent of ...
M.G. Brothers Vs. Commissioner of Income-tax
Court: Andhra Pradesh
Decided on: Mar-17-1984
Reported in: (1985)47CTR(AP)213; [1985]154ITR695(AP)
Anjaneyulu, J. 1. The Income-tax Appellate Tribunal referred the following two question of law for the opinion of this court under s. 256(1) of the I.T. Act, 1961 : '(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the loss sustained by the assessee in the forward transactions in cotton seed oil and neem oil was loss sustained in speculation business (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that there was no right of appeal against the levy of interest under section 215 of the Income-tax Act, 1961 ?' 2. The assessee, a partnership firm, carries on business in the manufacturer and sale of groundnut oil and its bye-products. For the income-tax assessment year 1973-74, the assessee filed its return declaring income of Rs. 2,90,807. While declaring the income as above, the assessee claimed that it suffered a loss of Rs. 1,60,946 in respect of certain transaction which it e...
Commisioner of Income Tax Vs. S. Krishna Rao
Court: Andhra Pradesh
Decided on: Mar-16-1984
Reported in: (1985)44CTR(AP)232
Y.V. Anjaneyulu, J.1. The following two questions of law are referred to this court for its opinion u/s. 256(1) of the IT Act, 1961. '(1) Whether, on the facts and in the circumstances of the case the Appellate Tribunal is justified in holding that the development rebate cannot be withdrawn by applying the provisions of s. 155(5). (2) Whether, on the facts and in the cirumstances of the case, the Appellate Tribunal is justified in holding that there is no transfer or sale within the meaning of s. 34(3)(b) ?' 2. The reference relates to the asst. yr. 1970-71. The assessee was a Hindu joint family consisting of the 'Karta' and three major sons. During the accounting year relevant for the asst. yr. 1970-71, the family purchased new machinery of the value of Rs. 1,38,977 and secured deduction on account of development rebate to the extent of Rs. 48,648. On 10-5-1972, there was a partition of the joint family assets including the business of the family. After the partition, it appears, the...
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