Kerala Court July 1996 Judgments
Browse smarter
Open an 18-section brief on any judgment
Structured AI Brief in seconds on any result - plus Semantic Search when you need meaning, not just keywords.
- AI Brief & Ask
- Semantic AI Search
- Devil's Bench
Credentials emailed - log in to pick up where you left off.
Commissioner of Income-tax Vs. V.P. John, Janatha Medicals
Court: Kerala
Decided on: Jul-02-1996
Reported in: [1998]229ITR475(Ker)
V.V. Kamat, J. 1. This is a petition under Section 256(2) of the Income-tax Act, 1961, praying for a reference of the following two questions :'1. Whether, on the facts and in the circumstances of the case - (a) the Tribunal is right in law and fact, in characterising/finding the sale of Eastern Tourist Home--a hotel business--as a mere discontinuance of an activity' and is not such a finding wrong, unreasonable, also unwarranted so long as the businesses are not one and the same ? (b) the assessee is entitled to the benefits of carry forward and set off of unabsorbed losses and depreciation of hotel business against the other incomes of the assessee ? 2. Whether, on the facts and in the circumstances of the case and on an interpretation of Section 155 of the Income-tax Act,-- (i) withdrawal of the benefit initially granted in the assessment is a 'debatable issue' and is not such a finding wrong, unreasonable and also unwarranted ? (ii) the Tribunal is right in law in importing Section...
Commissioner of Income-tax Vs. Pigments India Ltd.
Court: Kerala
Decided on: Jul-02-1996
Reported in: [1997]228ITR797(Ker)
V.V. Kamat, J.1. The Revenue, under Section 256(2) of the Income-tax Act, 1961, desires reference of the following questions :'1. Whether, on the facts and in the circumstances of the case and also in the light of the relevant provisions, the assessee is entitled to carry forward any loss ? 2. Whether, on the facts and in the circumstances of the case and also considering the relevant provisions and the provision contained in Sub-section (10) of Section 139 which retrospectively came into force from April 1, 1986, the Tribunal is right in law in holding that the assessee is entitled to have the loss carried forward ? 3. Whether, on the facts and in the circumstances of the case and since the Assessing Officer had extended time only up to September 30, 1986, and return filed on October 19, 1986, being one within the further extension of time applied for by the assessee (and on which no order was passed by the officer), the Tribunal is right in law in holding that therefore, in view of t...
Commissioner of Income-tax Vs. Dr. David Joseph
Court: Kerala
Decided on: Jul-02-1996
Reported in: [1997]227ITR369(Ker)
P.A. Mohammed, J.1. The questions of law referred to us for our decision in these reference cases are the following :' Whether, on the facts and in the circumstances of the case--' (i) the Tribunal is right in holding that 'the Appellate Assistant Commissioner was justified in directing vacation of the assessments' ?(ii) the beneficiaries are known and their shares determinate ?(iii) the Tribunal is right in law in holding that 'it was not possible for the Income-tax Officer to assess again the trustee' ?' 2. The above questions of law were referred to us at the instance of the Commissioner of Income-tax, Trivandrum. The assessee in these cases is a trust. The assessment years involved in these references are 1981-82 and 1982-83. While passing the assessment orders for the aforesaid years, the Income-tax Officer took the view that the beneficiaries under the trust and their shares were indeterminate and, therefore, the trust should be assessed directly. Being aggrieved by the aforesaid...
Commissioner of Income-tax Vs. Muthoottu Charitable Trust
Court: Kerala
Decided on: Jul-01-1996
Reported in: [1997]227ITR203(Ker)
V.V. Kamat, J. 1. The assessee in these two references, relating to the assessment years 1980-81 and 1981-82 is a trust created under an indenture executed on August 16, 1976. Three brothers, Mr. M. George, M. Mathew and Mathew M. Thomas of Muthootu House, Kozhencherry, are the authors of this trust. These three brothers also along with their children and close relatives carry on the business of the firm in the name and style of Muthoottu Mini Chitty Fund. The business is of conducting chitty and money-lending on a large scale. There are different partnership firms also other than the above chitty fund. The present assessee-trust though came up under the indenture in 1976, became active after the formation of the chitty fund in June, 1977.2. The nature of the business activity so far as is relevant to the present references postulates a spread over of the activities of the fund carried out by the above firm. The firm had several series of chitty funds on the basis of agreements entered...
- ‹ Prev
- 1
- 2
- 3
- 4
- 5
- Next ›