Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1991)36ITD431(Gau.)
..... it was held that this was not a case of escaped assessment and the commissioner had jurisdiction to pass the order in revision under section 34 of the kerala agricultural income-tax act, 1950.29. in the case of syndicate bank ltd. (supra), the hon'ble karnataka high court has dealt with the facts of the case regarding the capital ..... luck kochuvareed (supra), the hon'ble supreme court on the fact of that case held that, that was not a case where the agricultural income-tax officer omitted to assess any item of income disclosed in the assessee's return and that the commissioner in remanding the case thought that the deductions allowed were excessive and the officer might ..... 1. the appeals are by the assessee raising identical points. the appeals are directed against the consolidated order of the commissioner of income-tax as passed under section 263 of the i.t. act for the assessment years 1984-85 to 1986-87. briefly speaking the facts of the case were as under.2. forassessment year 1984-85, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (2004)88ITD61(Gau.)
..... of opinion between the accountant member, and the judicial member, the matter is being referred to the hon'ble president of the income-tax appellate tribunal under section 255(4) of the income-tax act, 1961 with a request that the following question may be referred to a third member or to pass such orders as the president ..... brothers, died sometime in 1947.it was claimed by the assessee that biswakanta and krishnakanta had formed an huf and it had derived agricultural income and some business income out of trading in agricultural produce. rejecting the claim of huf, it has been pointed out by the assessing officer that the first return was filed by the ..... to 1970 arc not on records. however, a scrutiny of the financial statements of the assessee shows that the source of income of the assessee is from agricultural income and interest income on fdrs. agricultural income is derived from agricultural lands which are owned in joint names of sri k.k. barkataky and sri b.k. barkataky. the sources of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (2004)267ITR37(Gau.)
..... 1979-80 accepting the status as huf, clarification and explanation dt. 6th sept., 1992, details of agricultural land along with land pattas and land revenue rules, returns of income filed from year to year, provisions contained in section 171 of the act and various case laws relied on by the assessee-huf. the first appellate authority has also observed that ..... the learned authorised representative of the assessee justified the orders of the first appellate authority by making his submissions on the lines of the submissions made before the learned cit(a).11. the learned am vide paras 5 to 7 of his order after considering the material on record, orders of the authorities below ,and the rival ..... not discharged by the assessee. in the final analysis, the ao held as under: "in the light of the above, there is no huf assessable to tax. as return of income is filed in the name of m/s gourikanta barkatakay and ors. the assessment completed as a protective measure in the status of aop. the fdrs in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)34ITD316(Gau.)
..... belonging' to the assessee.16. in a slightly different context in the case of r.b. jodha mal kuthiala v. cit [1971] 82 itr 570 the hon'ble supreme court dealing with section 9 of the indian income-tax act, 1922, on the facts and in the context of that case held that the ownership must be the person who can ..... true that equitable considerations are irrelevant in interpreting tax laws. but those laws, like all other laws, are to be interpreted reasonably and in consonance ..... of the owner but in his own right. that decision was for the purpose of assessing income from the property. it was also held that residual beneficial right cannot be considered to be ownership for the purposes section 9 of the indian income-tax act, 1922. in that very judgment, the hon'ble supreme court has observed that it is .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)35ITD597(Gau.)
..... the value of the property after excluding rs. 1,35,000 being the amount credited in the assessee's capital account and only the balance thereof was brought to tax under the gift-tax act, i.e., the subject matter before the appellate tribunal is limited to that extent. although rs. 1,35,000 cannot, be considered as consideration at all in ..... did not get anything in return. in that decided case, the hon'ble supreme court held that there was no question of capital gains which required to be taxed. but under the gift-tax act, the position would be different, inasmuch as the assessee has parted with his personal asset on his transfer of the asset owned by him to the firm ..... towards the capital contribution, was not intended to pass to the, assessee, the same was treated as deemed gift within the meaning of section 4(1)(6) of the gift-tax act. the gto concluded that considering the prevailing market rate for the land in the said locality, he adopted rs. 600 per sq. yd. which worked out to rs. 6 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1991)37ITD112(Gau.)
..... fraction and if there is division by metes and bounds the allotment of properties vivifies and specifies such shares in separate ownership.12. for the purpose of computation of income under the income-tax act and in particular in respect of section 9 of the indian income-tax act, 1922, the hon'ble supreme court in the case of r.b. jodha mal kuthiala v ..... rao [1982] 134 itr 640, the hon'ble andhra pradesh high court on the facts of that case while dealing with the wealth-tax matters has observed that analogy of income-tax law cannot be applied to the wealth-tax act.22. on the facts available and in view of what we have discussed above, we are of the opinion that the claim of ..... . cit [1971] 82 itr 570 has observed that for the purposes of the said act, the owner must the person who can exercise the rights of the owner and not on behalf of the owner .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1991)37ITD392(Gau.)
..... various aspects of the matter in respect of merits of the case and the implications of the relevant section and the rule framed thereunder. it is true that income-tax act as it stands amended on the first day of april of the financial year must apply to the assessment of that year and that an amendment which comes ..... passed by the assessing officer giving effect to the order and directions passed under section 263 of the income-tax act 1961 by the commissioner of income-tax.2. it may be mentioned here that against the order passed by the commissioner of income-tax under section 263, the assessee took up the matter in appeal before the appellate tribunal and the ..... karnataka high court in southlndia paper mills ltd.'s case (supra) wherein the object of chapter xx ii-b of the income-tax act, 1961 was dealt with. the object of the said provision was to grant tax credit certificate to certain assessees and by virtue of the said provision the central government formed a scheme under which certain .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)32ITD157(Gau.)
..... her brother took, the intention of the lady was that each grandchild should take a definite share in the properties. it was held that section 9(3) of the income-tax act, 1922, was applicable and the share of the grandchildren being definite and as cartainable, they could not be assessed as an association of persons.19. thus, from whatever ..... required to be ascertained the period or the duration of the construction work, so that investment made during a particular year can be considered for that particular year for income-tax purpose. but in the absence of basic materials and facts, we cannot decide this dispute finally. in the circumstances of the case, we deem it fit to ..... dispur on which the building stands and that the land was exclusively given to the assessee in her exchange of her 19 bighas 1 k17 lechas of land being agricultural land at village bihadia. it was stated that this bihadia village land was the marriage dower of the assessee known as meher. the assessee is a mohammedan. the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)32ITD79(Gau.)
..... that service of requisite notice for an assessment on the assessee, is a condition precedent to the validity of any re-assessment under section 34 of the indian income-tax act, 1922, and if the notice issued and served on the assessee was obviously invalid, proceedings were consequently illegal, void and consent cannot confer jurisdiction upon a court ..... the gujarat case that these sections confer power of re-assessment on the ito and these provisions were originally comprehended in the provisions of section 34 of the indian income-tax act, 1922. thus, keeping in view the decision in the case of banarsi debi (supra), it was held in the gujarat case held above that the words " ..... can be made under section 153(2). that apart, as could be seen from the decisions of different high courts, provisions of section 34 of the indian income-tax act, 1922, are mandatory in nature. the provisions and requirements of sections 147, 148 and 149 are also mandatory in nature as pointed out by the hon'ble .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)35ITD331(Gau.)
..... owning capital assets and is liable to tax in respect of a capital gains. in that decision, the ratio of the judgment of ..... high court in the case of pearl woollen mills v. cit [1980] 123 itr 659,m which on the facts of that case, it was held that it is now well settled that for the purpose of income-tax act, a firm is a legal entity and is capable of ..... property on its acquisition or purchase which took place in april 1970. in our opinion, the firm is a legal entity for the income-tax purpose and is capable to hold property and an asset of the firm on distribution or allotment to the partners, there was a ..... was effected by a document as mentioned earlier which was also registered under the appropriate law.11. in a different context under the gift-tax act, in the case of cgt v. chhotalal mohanlal [1987] 166 itr 124, the hon'ble supreme court held that the goodwill is .....
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