Guwahati Court December 1991 Judgments
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Commissioner of Income-tax Vs. B.P. Sikaria
Court: Guwahati
Decided on: Dec-18-1991
Manisana, J. 1. This is a reference under Section 256(1) by the Tribunal at the instance of the Commissioner of Income-tax.Facts : Pradip Kumar Sikaria is a minor son of the assessee and the minor has been admitted to the benefits of partnership in two firms, namely, Messrs Ashok Kumar Pradip Kumar and Messrs Bipin Trading Company. The profits of the firms falling to the share of the minor were with the firms. The firms paid interest to the minor. The Appellate Assistant Commissioner has held that the interest was not includible under Section 64(1)(iii) of the Income-tax Act, 1961, as it was on deposit. The Income-tax Appellate Tribunal confirmed the decision of the Appellate Assistant Commissioner relying on an earlier decision of the same Tribunal made in I.T.A. No. 198/(Gauhati) of 1979. Therefore, at the request of the Commissioner of Income-tax, the Tribunal has referred the following questions for the opinion of this court :'(i) Whether, on the facts and in the circumstances o...
Lachit Films Vs. Commissioner of Income-tax
Court: Guwahati
Decided on: Dec-11-1991
Manisana, J. 1. In this reference under Section 256(1) of the Income-tax Act, 1961, we are to answer the following question : 'Whether, under the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the grant-in-aid received by the assessee-firm from the Government of Assam was a revenue receipt ?' 2. Facts :--The assessee-firm is a producer of Assamese films and had prodxiced a film titled 'Sanatan'. The said film was released in the year 1974. During the assessment year under consideration, a sum of Rs. 37,488 was received by the assessee as grant-in-aid from the Government of Assam. The said grant-in-aid was equivalent to the first 12 months' collection of amusement tax from the date of release of the film. The assessee had claimed that the said grant-in-aid given by the Government is not a revenue receipt for the reason that the financial aid or subsidy was given by the Government with a view to encouraging the Assamese film industry. 3. T...
Commissioner of Income-tax Vs. Gaya Prasad Khemani
Court: Guwahati
Decided on: Dec-07-1991
B.P. Saraf, J. 1. By this reference made at the instance of the Commissioner of Income-tax, the Income-tax Appellate Tribunal, Gauhati Bench, Gauhati, has referred the following question of law for our opinion: 'Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal was justified in directing that the interest paid by the assessee on loan taken by him for construction of the shop premises which were not used by him in his business but was given user by the firm in which he was a partner should be allowed as a deduction from the income of the assessee as his business expenditure ?'2. The question is not happily worded. The expression 'but was given user by the firm in which he was a partner' does not appear to be appropriate. The proper expression should have been 'but used by the firm in which he was a partner'. However, as there is no ambiguity about the controversy for determination, we do not propose to reframe the question.3. The assessee is a Hindu undiv...
Commissioner of Income-tax Vs. the Industrial Co-operative Bank Ltd.
Court: Guwahati
Decided on: Dec-07-1991
B.P. Saraf, J. 1. By this reference, the Income-tax Appellate Tribunal, Gauhati, has referred the following question of law to this court for opinion : 'Whether, on the facts and in the circumstances of the case and on a proper construction of Section 80P(2)(c) read with Section 80P(2)(f) of the Income-tax Act, 1961, the Tribunal was justified in holding that the letting out of house property, collection of rent therefrom, repairs to the property, constituted 'activities' as envisaged in Section (2)(f) and, on that basis, in deciding that the assessee was entitled to deduction of Rs. 20,000 in respect of the income from house property chargeable under Section 22 of the said Act ?'2. The assessee is a co-operative society engaged in carrying on the business of banking, the income whereof is totally exempt from tax under Section 80P(2)(a) of the Income-tax Act, 1961 ('the Act'). In the assessment years 1977-78 and 1978-79, in addition to income from banking business, the assessee had al...
Commissioner of Income-tax Vs. Mahari and Sons
Court: Guwahati
Decided on: Dec-07-1991
B.P. Saraf, J. 1. By this reference under Section 256(1) of the Income-tax Act, 1961, made at the instance of the Commissioner of Income-tax, the Income-tax Appellate Tribunal, Gauhati Bench, Guwahati, has referred the following question of law to this court for opinion : 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the income earned by a Khasi family as a unit would be entitled to exemption under Section 10(26) of the Income-tax Act, 1961, as in the case of the income of an individual Khasi ?'2. The assessee is a Khasi family. The relevant assessment year is 1980-81. The income of the assessee during the relevant previous year was Rs. 1,02,230, i.e., far in excess of the taxable limit. The assessee did not submit any return of income voluntarily under Section 139(1) of the Act. It did not do so even in compliance with a notice under Section 139(2) of the Act. The assessee, however, appeared before the Income-tax Office...
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