Kerala Court November 2001 Judgments
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Cit Vs. T.K. Ginarajan and ors.
Court: Kerala
Decided on: Nov-02-2001
Reported in: (2002)172CTR(Ker)363
C. N. Ramachandran Nair, J.The short question arising in all these income-tax cases is the 'head of income' under which 'incentive bonus' received by the assessees who are development officers employed by the Life Insurance Corporation (hereinafter referred to as the LIC) of India is assessable under the Income Tax Act and the extent of deduction, if any, allowable in the computation of taxable income. While issuing notice in ITA No, 31 of 2001, this court framed the following three questions of law :1. Whether, on the facts and in the circumstances of the case, and also in the light of the decision of the Supreme Court in Karamchari Union v. Union of India : (2000)IILLJ603SC , the Tribunal is right in law in allowing any deduction separately from incentive bonus?2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding :(i) 30 per cent of the incentive bonus is to be excluded from the definition of emoluments under section 17.(ii) 30 per cent of t...
Commissioner of Gift-tax Vs. M.C. George
Court: Kerala
Decided on: Nov-01-2001
Reported in: (2002)172CTR(Ker)691; [2002]253ITR363(Ker)
P.K. Balasubramanyan, J.1. The assessee is a Christian hailing from the erstwhile Travancore area of the State of Kerala. The assessee, before the States Reorganisation Act was extended, was governed by the Travancore Christian Succession Act. The assessee married away his daughter on September 9, 1985. While marrying away his daughter, the assessee gifted to his daughter a sum of Rs. 85,001. The assessee did not file any return under the Gift-tax Act, 1958, for the assessment year 1986-87 in respect of the gift made to his daughter at the time of her marriage. A notice under Section 16(1) of the Gift-tax Act was hence issued to the assessee. In response to that notice, the assessee filed a nil return. At the hearing, the assessee explained that the payment of Rs. 85,001 to his daughter at the time of marriage did not constitute a gift since he was under an obligation to maintain his daughter. According to the assessee, his obligation to maintain his daughter included the obligation of...
Commissioner of Income Tax Vs. Malayala Manorama
Court: Kerala
Decided on: Nov-01-2001
Reported in: [2002]253ITR791(Ker)
P.K. Balasubramanyan, J.1. At the instance of the Revenue the following question has been referred to us by the Income Tax Appellate Tribunal under Section 18 of the Companies (Profits) Surtax Act, 1964, read with Section 256(1) of the Income Tax Act:-'Whether on the facts and in the circumstances of the case, the Tribunal is right in law and in fact in holding that it is not beyond doubt as to whether interest under Section 7C could be charged by an order under Section 13 of the Surtax Act and so the levy of the interest was not in order?'2. For the assessment year 1982-83 the assessee was assessed under Section 6(2) of the Companies (Profits) Surtax Act, 1964 (hereinafter called the Surtax Act) on 25.2.1987. While making the assessment, the assessing officer did not levy interest payable by the assessee in terms of Section 7C of the Surtax Act. There was an appeal at the instance of the assessee against the assessment and the appeal was ultimately disposed of. Thereafter the assessin...
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