Court : Rajasthan
Reported in : (2004)190CTR(Raj)442; [2004]270ITR436(Raj)
..... lal mishra expired on 2nd oct., 1974. after his death return of estate duty was filed. in 1982 smt. sushila, petitioner inducted jt. director of agriculture ajmer division, jaipur as tenant. on 31st aug., 1989 the petitioners executed a composite agreement for sale and declaration with respect to the property with m/s ..... 29th nov., 1989 dy. cit (appropriate authority), new delhi under chapter xxc of the it act, 1961 initiated proceedings in respect of immovable property situated at d-46, subhash marg, c-scheme, jaipur. the petitioners were directed to surrender or deliver the possession of the immovable property to the valuation officer, income-tax, jaipur and they were ..... of the property the amount of consideration of rs. 18 lacs were deposited with the appropriate authority as per provisions of section 269ug of the it act by the chief cit, jaipur. on 29th dec., 1989 the valuation officer wrote a letter to the secretary, jaipur development authority, jaipur informing that in accordance with .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)1; [2004]268ITR305(Raj)
..... other hand, fruits and vegetables grown on the land are sold in market, income being agriculture and exempted from tax under section 10(1), no expenses relating thereto either revenue or capital become allowable as deduction from the income from the business. we have referred to these alternatives only because necessary facts about ..... carry on trade or business in intoxicating liquors meant for human consumption. on this premises, irresistible conclusion is that bottling fee chargeable under rajasthan excise act, 1950, r/w rule 69 of excise rules, 1956, cannot but be consideration for parting with states' right to exclusive privilege, whether bottling ..... question arose about the applicability of section 43b to claim deduction of the liability incurred to tax under the sales-tax rules as well as liability incurred on account of market cess under the agricultural produce marketing act. the petitioner had also challenged the constitutional, validity of section 43b.while considering and .....
Tag this Judgment!Court : Rajasthan
Reported in : [2004]140TAXMAN102(Raj)
..... rival submissions and given our thoughtful consideration to the facts available on record. in the instant case, it is noticed that all the donors were assessed to income-tax. their identity was not in doubt. all of them were having financial capacity to give gifts. the transactions were through banking channel which shows that the ..... respective account for making the gift. the assessing officer disallowed the gift because those persons were charging interest from the assessee and also receiving lease money on agricultural land and there was no occasion to make the gift to the minor son of the assessee namely shri aditya kumar. the assessing officer held that ..... on record. accordingly, it was held that the transaction fulfilled the requirement of gift as per the parameters mentioned in section 2(xii) of the g.t. act. the commissioner (appeals) opined that the aspect on which the assessing officer had heavily relied, related to the occasion of gift, reciprocal basis and close relations .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2004(3)Raj1828; 2004(3)WLC145
..... his brother rajendra singh defendant no. 3 is a doctor and lajpat rai admitted in cross examination that he paid a sum of rs. 25-30 thousand as income tax during the last assessment year; that statement of pw-1 lajpat rai on the point that he has no concern with jamindara travels is also not reliable as ..... communication system of jaipurwould be adversely effected causing inconvenience and hardship to the public atlarge.14. pw-1 lajpat rai stated that except 15 bighas of agricultural land, rest of the agricultural land at sriganganagar was given in exchange to raghuveer sen vide four registered exchange deeds and four portions of the disputed premises were given to them ..... pleaded that the monthly rent at the rate of rs. 500/- was provisionally determined under section 7 of the rajasthan premises (control of rent and eviction) act, 1950 (in short 'the act'). since the civil suit filed by raghuveer sen was dismissed in default, the defendants are not bound to pay rent at the rate of rs. 500/- .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)90TTJ(NULL)450
..... ordern.k. saini, a.m.:this is an appeal by the assessee against the order of the learned commissioner, dated 22-3-1999, passed under section 263 of the income tax act, 1961, for assessment year 1993-94.2. this appeal was barred by limitation by about 20 months. this bench of the tribunal vide order dated 14-7-2003 ..... the amount of rs. 3.91 lakhs was not related to the expenses incurred by the assessee for levelling the land, etc., because those expenses were related to the agricultural work. accordingly, it was submitted that there was no need to review the assessment order. the commissioner set aside the assessment order and directed the assessing officer to reframe ..... . the assessing officer made the enquiry from him. the assessee received a sum of rs. 3.91 lakhs for leaving his rights on the land which he was using for agricultural purposes. the land was purchased by s/sh. chetan parkash, suresh chopra, bali mohan singh from s/sh. champa lal, gobind dass, rattan lal and chagan lal. the .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)189CTR(Raj)516; [2005]275ITR372(Raj); 2004(5)WLC285
..... at any time for its own purposes. applying the test of the real income, the court said that income-tax is a tax on the real income, i.e., in the case of a business, the profits arrived at on commercial principles subject to the provisions of the it act. there is a clear-cut distinction between deductions made for ascertaining the profits ..... made to reserve fund but not below 1/10th of the net profits. sub-rule (2) provides for setting apart such part of its net profits by any agricultural credit society other than a land development bank. this is in addition to reserve fund envisaged under sub-rule (1). this fund is to be utilised to enable ..... the exact nature of reserve fund in question.the object for enacting the rajasthan co-operative societies act, 1965 was to provide for long-term loans to holders of land to enable them to discharge their debts, to carry out agricultural improvements, to acquire land for the formation of economic holding and other like purpose and thereby to .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)198CTR(Raj)201
..... but shri gopal sharma has confirmed the contents of the transactions that the same are with regard to the sale transactions of agricultural lands, which belonged to smt. chandra kanta pandit and also that he is the author of this document. under such ..... marriage of brother of smt. sarita devi, wife of the assessee and partly acquired out of ladies' own savings from rental income. it was also submitted that some petty gifts were received from in-laws at the time of engagement. it was also ..... is founded on irrelevant consideration. the finding does not call for any interference under the domain of section 260a of the act, which envisages only to consider and decide substantial questions of law arising out of the tribunal's order and not to ..... 18. on the other hand, the learned departmental representative strongly supported the order of the ao and the findings of the cit(a).19. we have carefully considered the rival submissions of the parties and pursued the material available on record. we find .....
Tag this Judgment!Court : Rajasthan
Reported in : III(2005)BC440; 2006(1)CTLJ377(Raj); RLW2005(2)Raj808; 2005(2)WLC337
..... loan or deposit is taken or accepted, and the person by whom the loan or deposit is taken or accepted, are both having agricultural income and neither of them has any income chargeable to tax under this act. thus, a collective reading of the provisions of section 269ss as a whole, and section 40a does make it clear, that they ..... the loan or deposit is taken or accepted and the person by whom the loan or deposit is taken or accepted are both having agricultural income and neither of them has any income chargeable to tax under this act.]' '40a. (1) the provisions of this section shall have effect notwithstanding anything to the contrary contained in any other provision of this ..... according to the plaintiff, the amount was advanced in cash. the amount of loan was rs. 40,000/-, while according to section 269ss of the income tax act, hereafter to be referred to as 'the act', such advancement of loan of an amount aggregating rs. 20,000/-, or more, could not be made in cash, but was required to be .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)195CTR(Raj)243
..... on 24th march, 1997 under section 132 of the it act, 1961. in response to the notice to file return, the assessee filed a return of the block period by showing the income for asst. yrs. 1988-89 to 1997-98 as per the income-tax return for the respective assessment years and undisclosed income in the sum of rs. 41,220 for 20 ..... referable to the value of 7 kg. of silver utensils.3. the ao found that the assessee is a partner of m/s balaji investors and besides having agricultural income of the agricultural land at atun road, bhilwara the assessee has half share in a farm house cum swimming pool which was constructed by the firm during the block assessment period. ..... . yr. 1982-83 and made additions in respect of asst. yr. 1982-83 and also in respect of 1983-84 that such additional cost of construction was the income from undisclosed sources, invested in construction of the house. on appeal, the assessee's contention was accepted that no additions could be made by referring the question of cost .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)197CTR(Raj)1; [2006]283ITR486(Raj); 2004(3)WLC425
..... applies one or more process to it and converts it into a different commodity or applies process for the purpose of marketing. in their hands the income is not agricultural income and is subject to tax under the act of 1961. for such persons the produce purchased serves as raw material or the original material to which process is applied, if as a result of ..... market, and at what stage. it is relevant to mention here that under the it act, 1961, agricultural income is not taxable as the same is exempted under section 10(1) from the charge of tax. agricultural income has been defined under sub-section (1a) of section 2, which reads as under :'(1a) : 'agricultural income' means-- (a) any rent or revenue derived from land which is situated in india .....
Tag this Judgment!