Court : Orissa
Reported in : [1970]75ITR682(Orissa)
..... thus been defined in explanation 2. the definition is exhaustive. a transaction which is speculative under the contract act may not be speculative under the income-tax act, while a transaction which is non-speculative under the contract act, may be speculative under the income-tax act. the essential feature of this definition is that the transaction must be speculative if the contract under which it ..... of a speculative nature.the sole question for consideration is whether the transactions were of a speculative nature. section 24 of the income-tax act, 1922, so far as relevant, runs thus :'24. set off of loss in computing aggregate income. - (1) where any assessee sustains a loss of profits or gains in any year under any of the heads mentioned ..... g. k. misra c. j., - the question of law referred to this court under section 256(1) of the indian income-tax act, 1961, runs thus :'whether, on the facts and circumstances of the case, the sum of rs. 17,061 and rs. 2,203 fell for deduction in the .....
Tag this Judgment!Court : Orissa
Reported in : (2008)219CTR(Ori)433
..... .1. the grievance of the petitioner in this writ petition is refusal by the chief commissioner of income-tax, orissa, bhubaneswar (hereinafter referred to as 'the chief cit) to waive interest levied under sections 234b and 234c of the it act, 1961 (hereinafter referred to as the act'). the ground for making such grievance is that though benefit of waiver was permitted under notification f.no ..... .20 lakhs seized during search had been treated by the department to be adjusted against assessee's individual tax liability vide order dt. 11th march, 1993 passed under section 132(5) of the act (annex. 16). to this, the petitioner who was assessed to income-tax under the status of 'huf has never raised any objection by way of making application to the chief .....
Tag this Judgment!Court : Orissa
Reported in : AIR1958Ori65; 23(1957)CLT440
..... be excluded from the partition. the marfatdari right in the properties described in schedule b/l will be liable to partition with the obligation that the entire income thereof will be spent for the sebapuja of the deity. with the above modifications, the decree as passed by the learned additional subordinate judge, puri, is ..... debottar properties the marfatdari right therein is liable to be partitioned; but the marfatdars will take the properties with the obligation that they would spend the entire income thereof for the religious purposes in the interest of the deity bhagabat basudeb.20. in the result, the decree of the learned additional subordinate judge will ..... inclined to take the view that theproperties are absolute. the debottar are not liable to partition.'mr. mohapatra contended that there is no account either of income or of expenditure maintained of these properties except certain tipas which were found at the time of inventory. the disputed tipa does not refer to any particular .....
Tag this Judgment!Court : Orissa
Reported in : AIR1994Ori191
..... the second category comprises the people of other caste who are natives of chilks periphery or are settled for ten years. they are engaged in fishing owing to low income from agriculture. generally, they prefer to employ bonded labour for catching fish in the lake. ' 3. the third group comprises the immigrant fishermen who come to chilka for ..... 'being confined, inter alia, to chulimunda', which is really not asource like dian and uthapani, of which mention was made in this context, but is the name of tax/royalty paid at one time to rajas of parikud and khallikote. this may not, however, be so, as would appear from what has been stated about 'chulimunda' at ..... of united nations on human environment; african charter on human and people's right, justice douglas, and then after referring to what finds place in the environment (protection) act, 1986, the learned judge stated as below in paragraph 24 :--- 'from the above it is clear that protection of the environment is not only the duty of the .....
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