Rajasthan Court March 1986 Judgments
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Commissioner of Income Tax Vs. Jaipur Mineral Development Syndicate (P ...
Court: Rajasthan
Decided on: Mar-03-1986
Reported in: (1987)63CTR(Raj)119
ORDERBy the Court. - The Commissioner has submitted this application under s. 256(2) of the Income-tax Act, 1961, (hereinafter referred to as the Act) for giving a direction to the Tribunal, Jaipur Bench, Jaipur to draw the statement of the case and to refer the following question of law for the opinion of this Court :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the case, the Tribunal was justified in upholding the finding of the AAC that the amounting to Rs. 6,50,340 in the asst. yr. 1967-68 since it became bad during the accounting year relevant to the said assessment year ?'We have gone through the order of the Tribunal dt. 22-8-1979. The Tribunal had upheld the order of the AAC who had held on the basis of entire evidence on record that the sum of Rs. 6,50,340 had become bad debt in the relevant accounting year. The Tribunal has also given detailed reasons for holding that the assessee-company was entitled to the bad debt acco...
Commissioner of Income-tax Vs. Fejmal Rajmal ChhabrA.
Court: Rajasthan
Decided on: Mar-03-1986
Reported in: (1987)64CTR(Raj)335; [1987]167ITR363(Raj); [1987]31TAXMAN387(Raj)
We have heard the learned counsel for the Department as well as learned counsel for the assessee. The Commissioner has submitted this application for giving a direction to the Tribunal to draw up a statement of the case and to refer the following question of law for our opinion :'Whether on the facts and in the circumstances of the present case, the Tribunal was justified in holding that interest paid by the assessee to the minors on the gift made by the partners by mere book entries is to be allowed under section 37(1) of the Income-tax Act, 1961 ?We have gone though the judgment of the learned Tribunal, Bombay Bench, camp at Jaipur dated July 31, 1980, and also the order of the Tribunal, Jaipur Bench, dated February 9, 1981, whereby the identical reference applications filed by the Commissioner have been rejected. the Tribunal, on the facts and in the circumstances of the case, has held that there was no dispute that the amount in question was being used by the firm for the purpose o...
Additional Commissioner of Income-tax Vs. Rajasthan Charity Trust.
Court: Rajasthan
Decided on: Mar-02-1986
Reported in: (1987)56CTR(Raj)248; [1987]165ITR759(Raj)
As three reference applications relating to the assessment years 1969-70, 1970-71 and 1971-72 have been referred for disposal by this court in which identical questions of law arise. The office is directed to register the reference application for the assessment year 1969-70, as 8 of 1976, for the assessment years 1970-71 as 8(a) of 1976 and for the assessment year 1971-72 as 8(b) of 1976. All the three reference applications are disposed of by a single order.The following questions of law have been referred by the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur :'1. Whether, on the facts and in the circumstances of the case, the assessee-trust was entitled to exemption from tax under section 11 read with section 2(15) of the Income-tax Act, 1961, as being a trust wholly for charitable purposes ?2. If the answer to question No. 1 be in the affirmative, then whether the income of the trust from hedging transactions was or was not exempt from tax as being de hors the trust deed ?3. I...
Addl. Commissioner of Income Tax Vs. Rajasthan Charity Trust.
Court: Rajasthan
Decided on: Mar-02-1986
Reported in: (1986)56CTR(Raj)248
ORDERBy the Court - As three reference applications relating to asst. yrs. 1969-70, 1970-71 and 1971-72 have been referred for disposal by this court in which identical questions of law arises. The office is directed to register the reference application for asst. yr. 1969-70, as 8/76, for the asst. yr. 1970-71 as 8(a) of 1976 and for asst. yr. 1971-72 as 8(b) of 1976. All the three reference applications are disposed of by one single order.2. The following questions of law have been referred by the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur.1. 'Whether, on the facts and in the circumstances of the case, the assessee Trust was entitled to exemption from tax under s. 11 read with s. 2(15) of the IT Act, 1961 as being a Trust wholly for charitable purposes.2. If the answer to question No. 1 be in affirmative, then whether, the income of the Trust from hedging transactions was or was not exempt from tax as being de-hors the trust deed.3. If the answer to question No. 1 and/or que...
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