Kerala Court October 1996 Judgments
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Sree Vardhana Trust Vs. Commissioner of Income-tax
Court: Kerala
Decided on: Oct-11-1996
Reported in: [1997]225ITR890(Ker)
V.V. Kamat, J. 1. For the assessment year 1983-84, the assessee, Mr. Sathrughnan Pillai, a trustee of the trust named 'Sree Vardhana Trust', was assessed under the provisions of the Kerala Agricultural Income-tax Act, 1950, and in connection therewith, the following two questions expect our answer :'(1) Whether, on the facts and in the circumstances of the case, the Tribunal has gone wrong in holding that the status of the assessee for assessment under the Agricultural Income-tax Act will depend on the decision of the issue as to whether the appellant trustee have held the property on behalf of the beneficiaries or for the benefit of the beneficiaries ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal is correct in its finding that the entire agricultural income has to be assessed as a single whole in the hands of the trustee of Sree Vardhan Trust under the provisions contained in Section 8(2)(a) of the Kerala Agricultural Income-tax Act, 1950 ?' 2. On heari...
Commissioner of Income-tax Vs. P.N. Srinivasa Rao and ors. and S. Padm ...
Court: Kerala
Decided on: Oct-10-1996
Reported in: [1998]232ITR730(Ker)
V.V. Kamat, J.1. These are in all 15 references brought before us on an agreed convenience. This is because that they relate to the assessment years 1980-81, 1981-82, 1982-83, 1983-84 and 1984-85. There is another feature that both the husband and wife, namely, Shri P.N. Srinivasa Rao and Smt. S. Padma are concerned with them. To be precise I. T. R. Nos 146 and 147 of 1991 are by the Revenue and I. T. R. Nos. 148 and 149 of 1991 are by the said assessee, Smt. S. Padma, and that too with regard to the assessment years 1982-83 and 1983-84. Similarly with regard to the assessment years 1982-83, 1983-84 and 1984-85 I. T. R. Nos. 134, 135 and 136 of 1991 are by the Revenue whereas I. T. R. Nos. 137, 138 and 139 of 1991 are by the assessee, Shri P. N. Srinivasa Rao.2. In regard to the question expecting our answer, the basic assessment years are 1980-81 and 1981-82. The Income-tax Appellate Tribunal declined to refer the questions applied for both by the Revenue as well as by the assessee, a...
Commissioner of Income-tax Vs. Ramanujam Thampi and ors.
Court: Kerala
Decided on: Oct-09-1996
Reported in: [1998]233ITR521(Ker)
V.V. Kamat, J. 1. These six references are brought before us by the Revenue against the six partners-assessees related to the firm, National Cashew Co., Trivandrum. These six partners-assessees are also concerned with the purchase of a grape garden near Hyderabad by the sale deed dated November 16, 1966, for a total consideration of Rs. 2,95,000 allegedly forming a partnership, the sale deed, in fact, mentioning them individually as vendees. Out of the six partners, two were adults and remaining four were minors represented by their guardian father. The consideration amount of Rs. 2,95,000 was drained out through the firm, National Cashew Corporation, Trivandrum. In fact, this Trivandrum firm had an account styled as 'Hyderabad Account' showing debits of the payments and in spite thereof, correspondingly the grape garden was not shown as an asset of the firm. With regard to the assessment year 1969-70, the balance-sheet as on March 31, 1969, showed only Rs. 11,071 as due to the Trivand...
Commissioner of Income-tax Vs. N. Krishnan
Court: Kerala
Decided on: Oct-09-1996
Reported in: [1998]233ITR646(Ker)
V.V. Kamat, J.1. The following two questions expect our answer :'1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that once reassessment proceedings have resulted in reassessment of the income of the assessee, the original assessment order can no longer survive ?2. Whether, on the facts and in the circumstances of the case and in the light of the observation of the Supreme Court in CIT v. Onkar Saran and Sons : [1992]195ITR1(SC) , 'it is only the determination of the correct total income for the assessment year in question that is being redone' and in the light of the first illustration (at page 8) resulting in the conclusion, 'that certainly cannot be the effect of the legal provisions', are not the order of the Tribunal and the decisions of the Kerala and Bombay High Courts, relied on, against the decision of the Supreme Court in CIT v. Onkar Saran and Sons : [1992]195ITR1(SC) ?'2. The Income-tax Appellate Tribunal, with regard to...
Commissioner of Income Tax Vs. B. Ramanujam Thampi and ors.
Court: Kerala
Decided on: Oct-09-1996
Reported in: (1997)143CTR(Ker)90
V. V. KAMAT, J. :These six references are brought before us by the Revenue against the six partners-assessees related to the firm M/s National Cashew Co., Trivandrum. These six partners-assessees are also concerned with the purchase of grape garden near Hyderabad by the sale deed dt. 16th November, 1966 for a total consideration of Rs. 2,95,000 allegedly forming a partnership, the sale deed, in fact, mentioning them individually as vendees. Out of the six partners, two were adults and remaining four were minors represented by their guardian-father. The consideration amount of Rs. 2,95,000 was drained out through the firm M/s National Cashew Corporation, Trivandrum. In fact, this Trivandrum firm had an account styled as Hyderabad Account showing debits of the payments and in spite thereof, correspondingly the grape garden was not shown as an asset of the firm. With regard to the asst. yr. 1969-70, the balance sheet as on 31st March, 1969 shows only Rs. 11,071 as due to the Trivandrum fi...
Sree Narayana Chandrika Trust Vs. Commissioner of Wealth-tax
Court: Kerala
Decided on: Oct-08-1996
Reported in: [1997]224ITR468(Ker)
V.V. Kamat, J. 1. These references cover the assessment years 1976-77, 1977-78, 1978-79 and 1979-80 with regard to the assessment of the petitioner-trust in the name and style of 'Sree Narayana Chandrika Trust', Irinjalakuda, under the Wealth-tax Act, 1957. The question is of entitlement to the benefit of exemption under Section 5(1)(i) of the said Act and as a consequence benefit as a result thereof. 2. The assessee-trust is created by a deed dated March 15, 1972, executed by one C.G. Kesavan Vaidyar, his wife and two sons. The object of the trust was to provide education, medical relief and relief to the poor. This assessee-trust in its turn was a partner of the partnership firm in the name and style of 'Beena Enterprises', Coimbatore, with 30 per cent. share, constituted under a deed of partnership dated April 1, 1972. There are three partners and six minors. The minors are admitted to the benefits of the partnership only as under the law. There is no dispute that they are all relat...
Periyar Chemicals Ltd. Vs. Commissioner of Income-tax
Court: Kerala
Decided on: Oct-08-1996
Reported in: [1997]226ITR467(Ker)
V.V. Kamat, J. 1. A claim regarding deduction under Section 80J of the Income-tax Act, 1961, for the concerned assessment years comes before us expecting an answer to the following question: 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in rejecting the claim of your applicant that it was not entitled to deduction under Section 80J of the Income-tax Act, in respect of the new unit set up by it during the year ended June 30, 1976 ?' 2. Undoubtedly, even on an impulsive blush, the question is purely relating to the factual matrix. The statutory provision of Section 80J speaks of deduction in respect of profits and gains from newly established industrial undertakings, in the context of the factual matrix. Profits and gains derived from an industrial undertaking are conditioned by the statutory provisions of the proviso thereto. It requires the said profits and gains in the context of an industrial undertaking, beginning to manufacture or produce a...
Thomas George Vs. Soudamini Manakkal
Court: Kerala
Decided on: Oct-08-1996
Reported in: (1997)ILLJ1178Ker
1. Plaintiff is the appellant. The appeal is directed against the order of the Court of the Subordinate Judge of Kozhikode in I. A. No. 1750 of 1993 in O.S.No. 421 of 1993 disallowing attachment for a sum of Rs. 50,000/- being the Provident Fund contributions of one (late) Basil Manakkal (hereinafter referred to as the subscriber) and held in deposit by the State Bank of India, Kozhikode where he was employed.2. Facts:- The suit was laid against the respondents who are the legal respersentatives of the subscriber who died on June 12, 1993 for recovery of a sum of Rs. 83,965/-with future interest and cost on the ground that the Subscriber, the predecessor of the respondents had borrowed from the appellant - plaintiff a sum of Rs. 70,000/- during his life time and had issued cheques for the said amount and the cheques were dishonored for want of funds when the appellant presented them for encashment. Along with the suit the appellant field I.A. 1750 of 1993 praying for attachment of a su...
Commissioner of Income-tax Vs. State Bank of Travancore
Court: Kerala
Decided on: Oct-07-1996
Reported in: [1997]228ITR40(Ker)
V.V. Kamat, J.1. The Revenue has come before us expecting our answer to the following two questions :' 1. Whether, on the facts and in the circumstances of the case, the interest on overdue bills is to be excluded from chargeable interest under the Interest-tax Act ? 2. Whether, on the facts and in the circumstances of the case, the interest earned on refinancing operations is to be excluded from the taxable interest '2. The two references relate to the assessment years 1984-85 and 1985-86. The assessee is the State Bank of Travancore, Trivandrum, and is concerned with the tax liability under the provisions of the Interest-tax Act, 1974.3. The Interest-tax Act, 1974, provides for the levy of tax on chargeable interest accruing or arising to the scheduled bank--the assessee--during the previous year. The tax becomes leviable on the interest income of credit institutions, such as the present assessee-bank, including co-operative societies, engaged in the business of banking, public finan...
Sagar Dye-chem Vs. State of Kerala
Court: Kerala
Decided on: Oct-03-1996
Reported in: [2003]133STC478(Ker)
V.V. Kamat, J.1. It is difficult to understand the imposition of penalty in a proceeding under Section 29A of the Kerala General Sales Tax Act, 1963 which empowers the Intelligence Officer-in-charge, for the purpose of verification of the documents required under Section 29(2) to be in the possession of the person transporting the goods, for reaching satisfaction that there is no evasion of tax. This is in view of undisturbed findings, there being no dispute that the petitioner-assessee has paid the tax through his monthly returns, nay, this has been found consistently by all the three authorities.2. The Sales Tax Officer (Enquiry), Kozhikode specifies in the following manner :'It is true that they have accounted for the sales as evidenced from the books of account. But the action here was initiated under Section 29A as the records accompanying the transport was not in accordance with the provisions of the Act.'Yet he finds fault in the delivery note in form No. 26 or at least the carb...
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