Court : Rajasthan
Reported in : (1986)53CTR(Raj)332; [1986]160ITR751(Raj); 1985(2)WLN797
..... the department, but that is only for the purpose of payment of tax under the income-tax act. under the act, wealth-tax is payable on the net wealth of the assessee and in accordance with section 7 of the act, the value of assets is to be determined by the wealth-tax officer on the basis of the estimated price that that property would ..... (ii) any building owned or occupied by a cultivator of, or receiver of rent or revenue out of, agricultural land : provided that the building is on or in the immediate vicinity of the land and is a building which the cultivator or the receiver of rent or revenue ..... 'asset' has been defined in section 2(e) of the act, as under :'(e) 'assets' includes property of every description, movable or immovable, but does not include,-- (1) in relation to the assessment year commencing on the 1st day of april, 1969, or any earlier assessment year- (i) agricultural land and growing crops, grass or standing trees on such land; .....
Tag this Judgment!Court : Rajasthan
Reported in : [1986]61STC247(Raj)
..... words, whether the twisting, braiding or intertwining of some cotton threads generate a new commercial product in which cotton yarn loses its identity ?10. in deputy commissioner of agricultural income-tax and sales tax (law) v. khader kunhi sons [1976] 37 stc 227, the article sold by the assessee was described as 'twisted cotton finishing twine'. since the article was ..... goods under section 14 of the central sales tax act read with section 15 or at the general rate of 7 per cent for unclassified goods ?2. the facts involved in all these references are common except ..... of the case, the board of revenue is justified in holding that pachrangi dori is a commodity falling within the purview of section 14 of the central sales tax act ?(2) whether, on the facts and in the circumstances of the case, pachrangi dori would be taxable at 2 per cent during the relevant periods as declared .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]166ITR325(Raj)
..... v. g. v. shah : [1975]98itr255(guj) , while considering section 35(1) and (5) of the indian income-tax act, 1922 (for short ' the old act '), the question arose whether the income-tax officer's order merges in the appellate order of the appellate assistant commissioner. it was observed as under (at p. 260) ..... in terms of section 5(1)(iva) of the wealth-tax act, 1957 (no. xxvii of 1957) (hereinafter referred to as ' the act'), with regard to the agricultural lands should be granted to the partners in their individual assessments. the wealth-tax officer accepted the contention of the assessee and accordingly he granted ..... income-tax appellate tribunal, jaipur bench, jaipur ('the tribunal' herein), has referred the following two questions for the opinion of this court :' (1) whether, on the facts and in the circumstances of the case, and on a proper interpretation of the provisions of the wealth-tax act, 1957, read with the relevant rules, the tribunal was right in holding that the agricultural .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]165ITR411(Raj)
..... section 37(2b) of the income-tax act and are allowable as a deduction in computing the total income for the assessment year 1974-75 'm/s. meg raj sohan lal, hereinafter referred to as the assessee, is a registered firm. it derives income from adat and sale of agricultural commodities. in respect of the ..... assessment year 1974-75, the assessee claimed a sum of rs. 6,500 as expenses incurred for providing meals to customers and constituents on the ground that the said expenditure was wholly laid out for the purpose of the business. the income-tax officer disallowed the said claim under section 37(2b) of the income-tax act ..... , 1961, hereinafter referred to as the act, on theview that the said expenditure was of entertainment nature. the appellate assistant commissioner held .....
Tag this Judgment!Court : Rajasthan
Reported in : [1986]159ITR810(Raj)
..... such as tea, soft drinks, etc., to the customers who visited the assessee's business premises. the said expenditure was disallowed by the income-tax officer under section 37(2b) of the income-tax act, 1961, hereinafter referred to as 'the act'. the appellate assistant commissioner on appeal held that the expenses are not in the nature of entertainment and, accordingly, he deleted the addition. the ..... opinion of this court.3. we find that this case is fully covered by the decision of this court in devichand bastimal v. cit . in that case, the assessee was carrying on business of 'adat' and sale of agricultural commodities and had claimed messing expenses and the question which was referred for the opinion of this court was whether the said expenses .....
Tag this Judgment!Court : Rajasthan
Reported in : (1986)56CTR(Raj)248
..... after examining the various terms of the trust deed and other documentary evidence, the ito held that the trust fulfilled all the conditions laid down under the act to qualify itself for exemption from income-tax. in march, 1968, the assessee received as donations from shri mahadeoji loyalka, 11,500 shares of indian iron and steel co., ltd. which were ..... may also be mentioned that the assessee had submitted before the tribunal that rs. 31,000 were spent on education, rs. 80,800 were given as donation to pilani agricultural institute during the accounting period relevant to asst. yr. 1969-70. it was also pointed out by the assessee before the tribunal that rs. 40,000, rs. 60 ..... ,000 and 23,000 were given as donations to pilani agricultural research institute, hindi shala, bombay and u. p. vidya mandir respectively, during the accounting period relevant to the asst. yr. 1970-71. the ito was not able to .....
Tag this Judgment!Court : Rajasthan
Reported in : (1987)56CTR(Raj)248; [1987]165ITR759(Raj)
..... the answer to question no. 1 and/or question no. 2 be in the negative, then whether the trust is entitled to deduction under section 80g of the income-tax act, 1961, in respect of donations made to charitable institutions in the application of the objects of the trust ?'these questions of law relate to the assessment years 1969- ..... be mentioned that the assessee had submitted before the tribunal that rs. 31,000 were spent on education and rs. 80,000 were given as donation to pilani agricultural institute during the accounting period relevant to the assessment year 1969-70. it was also pointed out by the assessee before the tribunal that rs. 40,000, ..... 000 and rs. 23,000 were given as donations to pilani agricultural research institute, hindi shale, bombay, and u. p. vidya mandir, respectively, during the accounting period relevant to the assessment year 1970-71. the income-tax officer was not able to point out any item of income which might have been applied by the assessee for non-charitable .....
Tag this Judgment!Court : Rajasthan
Reported in : (1986)54CTR(Raj)188; [1987]164ITR148(Raj); [1986]63STC203(Raj)
..... 82. taxes on income other than agricultural income.' 6. in this background, learned counsel for the petitioner submitted that in fact what is taxed is the income, and thus the basis of this provision, i.e., sale or gross receipts in a particular year of assessment is foreign to the income-tax act. according to entry 82, tax will be ..... levied on the total income ..... in list i of the seventh schedule to the constitution. entry 82 relates to 'taxes on income other than agricultural income'. according to the learned counsel, the impugned provisions result in taxing the gross receipts in respect of income in the guise of disallowing the expenditure. we are unable to agree with the .....
Tag this Judgment!Court : Rajasthan
Reported in : 1987(2)WLN877
..... :the use of the words 'any reason' which are of wide import dispenses with those conditions by which section 34 of the indian income tax act is circumscribed'.'see d.b. civil writ petition no. 655 ..... reason' in section 12(1) of the act are wide enough and the powers of the commercial taxes officer under the section are not circumscribed by any condition. in maharajadhiraj shri kameshwar singh v. the state of bihar, their lordship while interpreting the bihar agricultural income tax act, 1938, which used the same expression, observed ..... in this connection mr. mehta has invited my attention to deputy commissioner of agricultural income tax and sales tax. quilon v. dhanlakshmi vilas cashew co. 24 stc 491; the state of kerala v. k.e. nainan 26 stc 251; the commissioner of agricultural income-tax trivendrum v. smt. lucy kochuvereed 1976 uj (sc) 598; shri d.d .....
Tag this Judgment!Court : Rajasthan
Reported in : (1987)66CTR(Raj)109; [1987]167ITR139(Raj)
..... income-tax act, 1961, and that, therefore, such payments should be added to the total income of the assessee in terms of the aforesaid sub-section ?'2. the facts which are admitted and/or have been found by the income-tax appellate tribunal, jaipur bench, jaipur (hereinafter referred to as the 'tribunal'), are stated hereinafter:3. the applicant is a firm. the assessee deals in agricultural ..... finance had received inquiries from the various trade associations and trading communities about the operation of the provisions of section 40a(3) of the income-tax act for the disallowance of expenditure in business* and professions for which a payment exceeding rs. 2,500 is made otherwise than by a crossed ..... 1. whether the word 'expenditure' occurring in section 40a(3) of the income-tax act, includes expenditure on purchase of stock-in-trade also?2. whether the word 'expenditure' occurring in section 40a(3) of the income-tax act is to be interpreted in the light of the supreme court decision in the .....
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