Kerala Court November 1994 Judgments
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thekkanattu Firms Vs. Commissioner of Income-tax and ors.
Court: Kerala
Decided on: Nov-23-1994
Reported in: [1995]214ITR355(Ker)
T.L. Viswanatha Iyer, J. 1. The appellant is an unregistered firm doing abkari business. The appellant did not file any return for purposes of assessment under the Income-tax Act, 1961, inter alia, for the year 1973-74 until the search of the residential premises of the managing partner in September, 1974, after which the appellant filed its return for the year 1973-74. An assessment was completed on the basis of this return under Section 143(3) on March 31, 1976, on a total income of Rs. 1,14,000. This was reduced in appeal to Rs. 1,03,230. The appellant had made a disclosure under the Voluntary Disclosure Scheme of the Income and Wealth Ordinance, 1975. In determining the amount of tax payable under the assessment, the amount of tax paid under this scheme was given credit. In the original assessment made on March 31, 1976, a copy of which is exhibit P-1, the Income-tax Officer did not levy any interest either under Section 159(8) or 217.2. The assessment was reopened under Section 14...
K.V. Idiculla Vs. Commissioner of Income-tax
Court: Kerala
Decided on: Nov-23-1994
Reported in: [1995]214ITR386(Ker)
T.L. Viswanatha Iyer, J. 1. The following questions have been referred at the instance of the assessee : '1. Whether, on the facts and in the circumstances of the case, the tribunal was right in holding that for the purpose of computing the capital gains arising out of the sale of the property the full value of the consideration received by the assessee should be taken as Rs. 83,000 and not Rs. 5,544 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the sum of Rs. 78,156, which was adjusted out of the sale consideration against the liabilities charged on the property inherited by the assessee, did not constitute cost of acquisition for the purpose of Section 48 of the Income-tax Act, 1961 3. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that there was no diversion at source by overriding title to the extent of Rs. 78,156 which was adjusted from out of the sale consideration against the...
Churakulam Tea Estates Pvt. Ltd. Vs. Commissioner of Income-tax
Court: Kerala
Decided on: Nov-23-1994
Reported in: (1995)123CTR(Ker)336; [1995]214ITR457(Ker)
K.K. Usha, J. 1. This reference under Section 256(1) of the Income-tax Act, 1961, at the instance of the assessee, raises the following question of law arising out of the order of the Income-tax Appellate Tribunal, Cochin Bench : 'Whether, on the facts and in the circumstances of the case, the Tribunal is correct in holding that the defalcation of funds of the applicant to the tune of Rs. 3,31,565 is not admissible as a business loss?'2. The matter arises out of the income-tax assessment for the assessment year 1977-78. The assessee, a private limited company, claimed deduction to the extent of Rs. 3,31,565.65 as business loss. The company owned estates at Vandiperiyar. The directors of the company, Messrs. K. Krishnamurthy, K. Ramachandran, K. Srinivasan and S. Subramaniam, were brothers. 3. During the calendar years 1973 and 1974, the management of the affairs of the company was entrusted with the managing director, Sri Krishnamurthy. One Anandamurthy, a close relative of the managin...
N.C.J. Rajan Vs. Commissioner of Wealth-tax
Court: Kerala
Decided on: Nov-23-1994
Reported in: [1995]214ITR507(Ker)
T.L. Viswanatha Iyer, J. 1. We shall state the facts in Income-tax References Nos. 543 to 5.46 of 1985 which arise out of assessments to wealth-tax made on the assessee, N.C.J. Rajan, for the assessment years 1969-70 to 1972-73. The following questions have been referred to this court for its opinion under Section 27(3) of the Wealth-tax Act, 1957 (hereinafter referred to as 'the Act') : '1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in law in holding that the reopening of the assessment was valid, warranted and/or sustainable under Section 17(1)(a) of the Wealth-tax Act 2. Whether it is permissible to exclude from the provision for taxes the advance tax payments made under Section 210 of the Income-tax Act, 1961, in determining the market value of unquoted equity shares?' 2. We may at once state the second question stands concluded against the assessee by the recent decision of the Supreme Court in Bharat Hari Singhania v. CWT : [...
Mani and Co. Vs. Commissioner of Income-tax
Court: Kerala
Decided on: Nov-23-1994
Reported in: (1995)123CTR(Ker)453; [1995]213ITR563(Ker)
T.L. Viswanatha Iyer, J.1. These are applications under Section 256(2) of the Income-tax Act, 1961, to compel reference of certain questions of law arising out of the common order of the Appellate Tribunal in five appeals before it, namely, Income-tax Appeals Nos. 839 and 840 of 1984 and 14, 15 and 16 of 1985. The assessment years concerned are 1979-80 and 1980-81.2. The assessee is an engineering contractor who undertakes works for the military engineering service. For the assessment years 1979-80 and 1980-81, he filed returns disclosing loss, the reason for the loss being attributed to the unusual delay in the completion of the contracts entered into by him during the year and the unbearable increase in the cost of materials and labour. The assessee had been maintaining books of account during these years, unlike in the past and he prayed for acceptance of the accounts. The Income-tax Officer made an assessment estimating the profit at ten per cent., which was based on the estimate o...
R. Balakrishna Pillai Vs. the State and anr.
Court: Kerala
Decided on: Nov-23-1994
Reported in: 1995CriLJ963
ORDERK.P. Balanarayana Marar, J.1. Two questions pf some importance arise in this criminal revision petition. They are:(i) Whether sanction in terms of Section 197(1) of the Code of Criminal Procedure is required for prosecution under the Prevention of Corruption Act 1947?(ii) Whether sanction under Section 6 of that Act is prerequisite for the prosecution of an accused public servant under Section 5 of that Act even when such accused person had ceased to be a public servant on the date of the taking cognisance of the offence by the Special Judge?2. The first accused in C.C.27 of 1989 on the file of Enquiry Commissioner and Special Judge, Thiruvananthapuram is the petitioner herein. He had been a Minister of the Kerala Government during the relevant period and the Department of Electricity was one of the portfolio under his charge. The second accused, the second respondent was the Chairman of the Kerala State Electricity Board. The allegation against them is that during the period from...
Commissioner of Income-tax Vs. Bhima Bros.
Court: Kerala
Decided on: Nov-22-1994
Reported in: [1995]214ITR302(Ker)
T. L. Viswanatha Iyer, J.1. The Income-tax Appellate Tribunal, Cochin Bench, has referred the following question of law for the opinion of this court under Section 256(2) of the Income-tax Act, 1961 ;' Whether, on the facts and in the circumstances of the case, the rectification order is valid ?'The assessment year concerned is 1977-78 for which the return was due by June 30, 1977. It was actually filed only on August 31, 1977. While completing the assessment on January 31, 1978, the Income-tax Officer charged interest under Section 139(8) for the belated filing of the return. Subsequently, he rectified the assessment under Section 154 of the Act by his proceedings dated June 20, 1978, and reduced the amount of interest to Rs. 2,855 reckoning the delay in filing the return as one month. The audit raised objections and the order was again rectified under Section 154 on April 28, 1979, enhancing the interest to Rs. 5,680 reckoning the delay as two months. The Commissioner of Income-tax (...
Commissioner of Gift-tax Vs. Elixir Plantations (P.) Ltd.
Court: Kerala
Decided on: Nov-21-1994
Reported in: [1995]214ITR243(Ker)
T.L. Viswanatha Iyer, J. 1. These references and petitions concern the assessments made on the assessee, the Elixir Plantations (P.) Ltd.,Kottayam, either under the Income-tax Act, 1961, or under the Gift-tax Act, 1958, for the years 1973-74, 1974-75 and 1975-76. Income-tax References Nos. 109 and 110 of 1983, and 7 to 9 of 1993 concern the assessments to income-tax while Income-tax Reference No. 189 of 1988 and Original Petitions Nos. 860 and 861 of 1985 relate to the gift-tax assessments. Income-tax References Nos. 109 and 110 of 1983 are at the instance of the assessee, under Section 256(1) of the Income-tax Act, and relate to the assessment years 1973-74 and 1975-76. Income-tax References Nos. 7 to 9 of 1993 are at the instance of the Revenue for the assessment years 1973-74 to 1975-76 and are under Section 256(2) of the Income-tax Act. We shall refer to the gift-tax matters later. 2. The facts leading to all these cases may be summarised as follows. The assessee is a private limit...
Commissioner of Income-tax Vs. Jacobs Pvt. Ltd.
Court: Kerala
Decided on: Nov-17-1994
Reported in: [1995]214ITR218(Ker)
T.L. Viswanatha Iyer, J.1. The Income-tax Appellate Tribunal, Cochin Bench, has referred the following question of law for the opinion of this court under Section 256(2) of the Income-tax Act, 1961, at the instance of the Revenue, namely :.' Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the levy of additional income-tax of Rs. 1,84,450 on undistributed profits under Section 104 of the Income-tax Act, 1961, is not justified ?'The facts leading to the reference are as follows :The assessee is a private limited company. The assessment year concerned is 1976-77 corresponding to the accounting year ending March 31, 1976. The assessee had a total income of Rs. 27,86,230. According to the Income-tax Officer, the assessee had a balance distributable income of Rs. 6,08,764. Section 104 of the Income-tax Act requires the assessee to declare and distribute 60 per cent. of this amount as dividend subject to the provisions of sections 10...
R. Balakrishna Pillai Vs. State of Kerala
Court: Kerala
Decided on: Nov-17-1994
Reported in: 1995CriLJ1244
ORDERK.P. Balanarayana Marar, J. 1. Petitioner is the first accused in C.C. 1 of 1991 on the file of Special Judge for the trial of Idamalayar Investigations, Ernakulam. Petitioner moved that court by Crl. M. P. 64 of 1994 requesting the court to discharge him under Section 239 Criminal Procedure Code as there are no material to connect the case with any of the offences alleged. Another petition was filed to consider the validity and legality of the sanction produced. During the pendency of these two petitions. Shri V.S. Achuthanandan, the Leader of the Opposition in the Kerala Legislative Assembly filed a counter statement dated 10-10-1994 requesting the court that petitioner shall not be discharged and Criminal M. P. 64 of 1994 should be dismissed. A copy of the counter statement was- served on petitioner also. By order dated 26-10-1994 the Special Judge held that the objection filed by the third party to the discharge petition filed by the first accused is entertainable and the thir...
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