Guwahati Court September 1973 Judgments
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Assam Co-operative Apex Bank Ltd. Vs. Commissioner of Income-tax, Assa ...
Court: Guwahati
Decided on: Sep-25-1973
SEN J. - These applications under article 226 of the Constitution by the petitioner, Assam Co-operative Apex Bank Ltd., are directed against an order dated April 19, 1969, passed by the Commissioner of Income-tax, Assam, Tripura, Manipur and Nagaland, holding that the Government securities in question were not trading assets of the bank and that the income arising therefrom as interest was not business income and accordingly not exempt under section 81(i) of the Income-tax Act.The Income-tax Officer, A-ward, Shillong, has passed assessment order and had also issued demand notices for assessment years 1954-55 and 1957-58 to 1966-67 on the petitioner, against which the petitioner filed revision applications before the Commissioner of Income-tax, whereupon the Commissioner, after hearing the parties, passed the aforesaid impugned order.Mr. G. K. Talukdar, the learned standing counsel for the department, made a preliminary submission that these applications did not lie, in view of the fac...
Assam Co-operative Apex Bank Ltd. Vs. Commissioner of Income-tax and a ...
Court: Guwahati
Decided on: Sep-25-1973
Sen. J.1. These applications under Article 226 of the Constitution by the petitioner, Assam Co-operative Apex Bank Ltd., are directed against an order dated April 19, 1969, passed by the Commissioner of Income-tax, Assam, Tripura, Manipur and Nagaland, holding that the Government securities in question were not trading assets of the bank and that the income arising therefrom as interest was not business income and accordingly not exempt under Section 81(i) of the Income-tax Act. 2. The Income-tax Officer, A-ward, Shillong, has passed assessment orders and had also issued demand notices for assessment years 1954-55 and 1957-58 to 1966-67 on the petitioner, against which the petitioner filed revision applications before the Commissioner of Income-tax, whereupon the Commissioner, after hearing the parties, passed the aforesaid impugned order. 3. Mr. G. K. Talukdar, the learned standing counsel for the department, made a preliminary submission that these applications did not lie, in view...
Srikrishna Stores and anr. Vs. Superintendent of Taxes and ors.
Court: Guwahati
Decided on: Sep-11-1973
R.S. Bindra, J.1. This batch of 14 writ petitions under Article 226 of the Constitution by various merchants of Gauhati can be dealt with in this common judgment as the facts disclosed by them are almost parallel and the points of law involved are identical.2. We may reproduce the facts of Civil Rule No. 124 of 1970 as a sample. The petitioner Srikrishna Stores, Gauhati, is a registered dealer for the purpose of the Assam Sales Tax Act, 1947, hereinafter called the Act. That petitioner submitted his return for the period ending 30th September, 1967, to respondent No. 1, the Superintendent of Taxes, Gauhati, and in course of time produced its books of account and relevant documents before that officer at the latter's behest. Respondent No. 1 assessed the petitioner to a total tax of Rs. 1,350.33 on including in the turnover the amount charged by the petitioner for the tailored garments supplied to various customers. It appears that respondent No. 1 assessed such garments as 'ready-made...
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