Madhya Pradesh Court December 1979 Judgments
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Smt. Bhagwatibai Gopaldas Garg Vs. Additional Commissioner of Income-t ...
Court: Madhya Pradesh
Decided on: Dec-05-1979
Reported in: [1980]126ITR474(MP)
Sohani, J. 1. By this reference under Section 256(1) of the Income-tax Act, 1961, hereinafter called' the Act1', the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following questions of law to this court for its opinion : '(1) Whether, on the facts and circumstances of the case, the assessee is entitled to carry forward and set off the losses sustained by her as partner in M/s. Alok Paper Industries in her assessment for the year 1970-71 even though she ceased to be a partner in the said firm from December, 1966 (ii) Whether, on a true construction of Section 72(1)(ii) of the Income-tax Act, 1961, the proviso under Clause (i) of Sub-section (1) of Section 72 governs Clause (ii) also ?' 2. The material facts giving rise to this reference briefly are as follows : The assessee is assessed in the status of an individual and the assessment year in question is 1970-71. For that assessment year, the assessee disclosed income from her share in two registered firms, M/s...
Additional Commissioner of Income-tax Vs. Gopaldas Amarnomal
Court: Madhya Pradesh
Decided on: Dec-04-1979
Reported in: [1985]151ITR114(MP)
Vijayvargiya, J.1. By this reference under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), the Income-tax Appellate Tribunal, Indore Bench, Indore (hereinafter referred to as 'the Tribunal'), has referred the following question of law for the opinion of this court :'Whether, on the facts and in the circumstances of the case, theTribunal was justified in holding that since the default is attributable to thereturn of income filed in the course of the original assessment proceedings, pertaining to the assessment year 1965-66, the amended provisions of Section 271(1)(c) with effect from April 1, 1968, are not applicable and inaccordingly cancelling the penalty levied under Section 271(1)(c) of theIncome-tax Act ?' 2. The facts giving rise to this reference as set out in the statement of case are as follows: The assessee is an individual. The assessee filed his return of income for the assessment year 1965-66, earlier than the date of completion of the ass...
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