Gujarat Court September 1970 Judgments
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Commissioner of Wealth-tax, Gujarat Vs. Narandas Motilal
Court: Gujarat
Decided on: Sep-14-1970
Reported in: [1971]80ITR39(Guj)
T.U. Mehta, J.1. The only question which is involved in this reference is whether for the purpose of assessing the net wealth of the respondent-assessee for assessment years 1957-58 to 1963-64, the market value of the lands comprised by S. Nos. 184, 179/2 and 112/1 of Memnagar, Ahmedabad, should be included or not. The Tribunal has in the second appeal preferred by the assessee taken a view that the lands are agricultural lands and, therefore, their market value should not be included for the purpose of computing the net wealth of the assessee for the assessment years in question. The Commissioner has, therefore, preferred this reference. 2. Short facts of this case are that the respondent-assessee, Narandas Motilal, is being assessed in his individual capacity. In the year 1952, on the death of his adoptive father, he inherited two plots of land. One plot bearing survey Nos. 184 and 179/2 admeasuring 6,039 sq. yds. and the other plot bearing survey No. 112/1 admeasuring 12,552 sq. yds...
Commissioner of Income-tax, Gujarat Ii Vs. Western India Engineering C ...
Court: Gujarat
Decided on: Sep-11-1970
Reported in: [1971]81ITR712(Guj)
T.U. Mehta, J.1. This reference relates to the assessment of the respondent's income for the assessment year 1962-63, the accounting year being S. Y. 2015. The only question which is involved in this reference is whether contract would amount to 'gross receipt' even though bills including the kasar amounts are prepared by the assessee and sent to its customers. 2. In order to understand the real controversy between the parties, it would be necessary to state the relevant facts and the system of accounting adopted by the respondent-assessee since last many years. These facts are as under : The assessee is a firm doing business of keeping private contracts for buildings. The rates at which the contract work is undertaken by the assessee are settled with different customers. But it is an admitted position that very often it so happens that the assessee is called upon to carry out some additional work, which is not covered by the contract between the parties. For the sake of convenience, w...
Vadilal Soda Ice Factory Vs. Commissioner of Income-tax, Gujarat Ii
Court: Gujarat
Decided on: Sep-10-1970
Reported in: [1971]80ITR711(Guj)
P.N. Bhagwati, C.J.1. The reference under section 66 (1) of the Income-tax Act, 1922, is made at the instance of the assessee. It arises out of assessment to income-tax made on the assessee for the assessment year 1961-62, the corresponding account year being Samvat year 2016, that is, 1st November, 1959, to 20th December, 1960. The assessee is a registered firm and, prior to its compulsory acquisition by the State, the assessee owned an ice factory situate on leasehold land in Kalupur area. The land together with the ice factory standing on it was compulsorily acquired by the State for expansion and remodelling of the Ahmedabad Railway Station under the provisions of the Land Acquisition Act, 1894, and, consequent on such compulsory acquisition, the assessee had to shift the site of the ice factory to another locality in Gomtipur area. The proceedings for determining the amount fixing the amount of compensation was made by him on 5th October, 1960, during the previous year relevant to...
Surat Vankar Sahakari Sangh Ltd. Vs. Commissioner of Income-tax, Gujar ...
Court: Gujarat
Decided on: Sep-09-1970
Reported in: [1971]79ITR722(Guj)
Bhagwati, C.J.1. The short question which arises for consideration in this reference turns on the true interpretation of section 14(3) (iv) of the Income-tax Act, 1922 and section 81(iv) of the Income-tax Act, 1961. The facts giving rise to the reference are few and undisputed and way be briefly stated as follows. The assessee is a co-operative society registered under the Bombay Co-operative Societies Act, 1925. The main activities of the assessee are : (1) processing, that is, dyeing, bleaching and finishing of grey cloth on 'labour basis' and (2) purchasing of grey cloth from the local market and after processing selling the same to the members a well as outsiders. During the previous years relevant to the assessment years 1961-62 and 1963-64, the assessee earned income from processing grey cloth on 'labour basis', and also from processing its own grey cloth. So also the assessee earned income from processing grey cloth on 'labour basis' during the previous years relevant to the ass...
Ranchhodbhai Bhaijibhai Patel Vs. Commissioner of Income-tax, Gujarat ...
Court: Gujarat
Decided on: Sep-08-1970
Reported in: [1971]81ITR446(Guj)
P.N. Bhagwati, C.J.1. This reference arises out of an assessment to income-tax made of the assessee for the assessment year 1964-65, the corresponding account year being the financial year ended 31st March, 1964. The assessee had a large area of ancestral agricultural land admeasuring 2,02,088 square feet situate in village Savad at some distance from Baroda City. Two agreements of sale were entered into by the assessee in respect of different portions of this land, one on 27th June, 1962, and the other on 7th July, 1962. By the agreement of sale dated 27th June, 1962, the assessee agreed to sell 2 acres 2 gunthas of land was agreed to be Company of Baroda and the remaining 30 gunthas of land was agreed to be sold to Bapunagar Co-operative Housing Society Ltd., by the agreement of sale dated 7th July, 1962. The land was being used for agricultural purposes by the assessee and it was, therefore, apparent that by reason of section 63 of the Bombay Tenancy and Agricultural Lands Act, 1948...
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