Guwahati Court January 1977 Judgments
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Commissioner of Income-tax and ors. Vs. M.L. Mahindra and Amsoi Tea Es ...
Court: Guwahati
Decided on: Jan-13-1977
Pathak, C.J. 1. The facts of these two references are similar and a common question of law arises. Hence, this judgment will cover both these cases.2. In Income-tax Reference No. 12 of 1973, the following question of law has been referred by the Income-tax Appellate Tribunal, Gauhati Bench, under Section 256(1) of the Income-tax Act, 1961, hereinafter referred to as ' the Act ', to this court for decision : ' Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that only 40% of the salary and interest payable to the assessee, Shri M. L. Mahindra, by the firm, M/s. Amsoi Tea Estate, of which he is a partner, should be assessed to tax '3. The facts of this case may be briefly stated as follows :The assessee, M. L. Mahindra, is a partner in the firm, M/s. Amsoi Tea Estate, which derives income from a tea garden. His share of profit from the firm includes salary and interest. Since the salary and interest were received from the firm having in...
Pheros and Co. P. Ltd. Vs. Commissioner of Income-tax
Court: Guwahati
Decided on: Jan-12-1977
Pathak, C.J. 1. The Income-tax Appellate Tribunal, Gauhati Bench, has referred under Section 256(2) of the I. T. Act, 1961, hereinafter referred to as 'the Act', the following two questions of law to this court for decision :'(1) Whether, on the facts and in the circumstances of the case, the Tribunal is justified in limiting the guarantee commission to the extent of Rs. 1,750 only instead of Rs. 13,750 for the assessment year 1966-67 ?(2) Whether the Tribunal had any materials before it to limit the guarantee commission to a period of 1 1/2 months ?' 2. The assessee is a private limited company. For the assessment year 1966-67, it had claimed a deduction of guarantee commission of Rs. 13,750 paid to the managing director. The business of M/s. Pheros and Company (P.) Ltd. was the proprietary concern of one F, C. Agarwal. The business was taken over by a private limited company, that is, the assessee. took over the proprietary business on July 1, 1964, there was an existing arrangement...
Commissioner of Income-tax and ors. Vs. Amsoi Tea Estate
Court: Guwahati
Decided on: Jan-03-1977
Sadanandaswamy, J.1. Since the Division Bench which heard this matter in the first instance was of the opinion that it involves a point of law of considerable importance, it has been referred to this Bench. This is a reference under the Income-tax Act. The assessee is a registered firm having two partners, Shri M.L. Malpani and Shri M.L. Mahindra. The firm was deriving income from sale, cultivation and manufacture of tea. The Income-tax Officer computed the income of the firm for the assessment year 1962-63 at Rs. 58,485 and under Rule 8 of the Income-tax Rules, 1962, 40% of this income was made taxable under the Income-tax Act. The Income-tax Officer, while allocating the share of the income between the partners, allocated 100% of the salary and interest to the partners and thus arrived at the share income of the two partners which totalled up to 100% of the firm's income and not merely 40% which was taxable. In appeal, the Appellate Assistant Commissioner took the view that only the...
Commissioner of Income-tax, Assam, and Others Vs. Amaio Tea Setate.
Court: Guwahati
Decided on: Jan-03-1977
SADANANDASWAMY J. - Since the Division Bench which heard this matter in the first instance was of the opinion that it involves a point of law of considerable importance, it has been referred to this Bench. This is a reference under the Income-tax Act. The assessee is a registered firm having two partners, Shri M. L. Malpani and Shri M. L. Mahindra. The firm was deriving income from sale, cultivation and manufactur of tea. The Income-tax Offecer computed the income of the firm for the assessment year 1962-63 at Rs. 58,485 and under rule 8 of the Income-tax Rules, 1962, 40% of this income was made taxable under the Income-tax Act. The Income-tax Officer, while allocating the share of the income between the partners, allocated 100% of the salary and interest to the partners which totalled up to 100% of the firms income and not merely 40% which was taxable. In appeal, the Appellate Assistant Commissioner took the view that only the income which was taxable to income-tax could be allocated...
Smt. Sohani Devi JaIn Vs. Income-tax Officer, a Ward and ors.
Court: Guwahati
Decided on: Jan-03-1977
Baharul Islam, J. 1. This is an application under Article 226 of the Constitution for writs of certiorari and mandamus and/or any other appropriate writ, and is directed against an order of assessment dated March 24, 1965, made by the Income-tax Officer, A-Ward, Jorhat (hereinafter referred to as 'I.T.Q., Jorhat') for the assessment year 1960-61 and the notice of demand of the same date issued by the same officer under Section 156 of the Income-tax Act, 1961 (hereinafter called 'the Act'), demanding payment of a sum of Rs. 18,495.98 from the petitioner.2. The material facts of the case may be stated :The petitioner filed a voluntary return on July 29, 1964, before the I. T. O., Jorhat, for the assessment year 1960-61. In the return she stated to be a partner of M/s. Jain Commercial Corporation at Jorhat, which had come into existence since the assessment year 1960-61. It was disclosed in the return by the petitioner that she was one of the partners of the aforesaid firm and that she...
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