Court : Gujarat
Reported in : [2003]260ITR366(Guj)
..... of kerala also could not be treated as an allowable item of expense. the court has further held that the assessee-trust was not entitled to exemption under the kerala agricultural income-tax act, 1950. in the case before the supreme court, the issue was quite different. there was no contention to the effect that any contribution received by the trust was ..... 70,369 leaving a balance of rs. 87,010. on these facts, the court has taken the view that on the plain language of section 11(1)(a) of the income-tax act, 1961, the assessee was entitled to accumulate 25 per cent. of rs. 2,57,376 and not merely 25 per cent. of the balance of rs. 87,010.13 ..... clear from the wording of sub-section (2) of section 11 of the income-tax act, 1961, that it is mandatory for the person claiming the benefit of section 11 to intimate to the assessing authority the particulars required, under rule 17 in form no. 10 of the income-tax rules, 1962. if during the assessment proceedings the assessing officer does not have .....
Tag this Judgment!Court : Gujarat
Reported in : [1974]33STC353(Guj)
..... initiation of the proceeding and not the passing of the final order. the same reasoning were adopted by the madras high court while considering section 34 of the madras agricultural income-tax act in the case of n. v. s. kadirvel nadar v. the state of madras ([1962] 46 i.t.r. 251.). in section 57 initially the ..... powers suo motu. this section was amended and instead of 2 years the words '5 years' were substituted in the section. the gujarat sales tax act, 1969, which repeals the bombay sales tax act, 1959, contains section 67 which refers to revisional jurisdiction and provides that the revisional power can be exercised within the period of 3 years ..... at the instance of the state has referred the following question for our determination, namely, whether on the correct interpretation of section 57 of the bombay sales tax act, 1959, the period of limitation of 5 years prescribed for exercising the revisional jurisdiction by the commissioner on his own motion, applies only to the calling of .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)171CTR(Guj)386; [2002]253ITR564(Guj)
..... to two different trusts. the assessee claimed in the income-tax return for the year under consideration that no capital gain was chargeable under section 45 of the income-tax act, 1961 (hereinafter referred to as 'the act'), by appending the following note in the computation of income.'2. i was having remainderman's interest in tulsidas ..... the arguments advanced by mr. j.p. shah. mr. akil qureshi, learned standing counsel for the revenue has appeared on behalf of the commissioner of income-tax in both the matters.3. the assessees are individuals. the assessment year involved is 1980-81 and the relevant accounting period is calendar year ended on december ..... ) ; (2) baroda cement and chemicals ltd. v. cit : [1986]158itr636(guj) ; (3) cadell weaving mill co. p. ltd. v. cit : [2001]249itr265(bom) ; (4) a. gasper v. cit : [1991]192itr382(sc) ; (5) cit v. arun kumar sen : [1998]231itr945(delhi) ; and (6) sri krishna dairy and agricultural farm v. cit : [1988]169itr291(ap) . 15. mr. akil qureshi .....
Tag this Judgment!Court : Gujarat
Reported in : (1982)28CTR(Guj)148; [1983]139ITR628(Guj)
..... or rates, income-tax at that rate or those rates shall be charged for that ..... in the net wealth of the assessee chargeable to tax under the w.t. act (see s. 2(e)(i)). the question, therefore, as to what constitutes 'agricultural land' arises both in proceedings for assessment to income-tax as well as to wealth-tax. the decisions are galore under both the acts in which several principles have been laid down ..... land bearing survey no. 538 ceased to be an agricultural land on the application for the permission made under section 63 of the bombay tenancy and agricultural lands act, 1948 ?' 5. under the charging section (s. 4) of the i.t. act, 1961, where any central act enacts that income-tax shall be charged for any assessment year at any rate .....
Tag this Judgment!Court : Gujarat
Reported in : [1975]98ITR237(Guj)
..... (1) of the income-tax act, 1961, as it stood with effect from april 1, 1970, the tax on profits or gains arising from transfer of agricultural lands as mentioned in the definition of 'agricultural income', particularly, proviso, clause (ii), sub-clauses (a) and (b) is not within the competence of the state legislature as not being agricultural income but is directly a tax on income other than agricultural income. 14. after the ..... situated in rural areas would continue to be outside the scope of the provisions regarding tax on capital gains and hence no liability to tax would arise in respect of gains derived from transfer of agricultural land in rural areas. under section 2, sub-section (47) of the income-tax act, 1961, 'transfer', in relation to a capital asset, includes the compulsory acquisition of the capital .....
Tag this Judgment!Court : Gujarat
Reported in : [1971]81ITR446(Guj)
..... following two questions of law, namely : '(1) whether, on the facts and in the circumstances of the case, the lands sold by the assessee were agricultural lands within the meaning of section 2(14) of the income-tax act, 1961 and (2) if the answer to question no. (1) is in the negative, whether, in computing the capital gains, the assessee is entitled to ..... '. though the observations made in that decision were in reference to the expression 'agricultural land' as occurring in section 2(e) of the wealth-tax act, what we said there must apply equally in determining what is 'agricultural land' within the meaning of section 2(14) of the income-tax act. we pointed out various factors which have to be taken into account in determining whether a .....
Tag this Judgment!Court : Gujarat
Reported in : (1965)GLR114; [1965]56ITR503(Guj)
..... manufactured from sugarcane grown by the assessee on its lands was agricultural income within the meaning of section 2(1)(b) of the income-tax act, 1918, which was in identical terms with section 2(1)(b) of the income-tax act, 1922. the assessee contended that the income was agricultural income, but a full bench of the patna high court consisting of ..... performing a process on green leaves plucked from the tea garden. in its assessment to income-tax, the assessee contended that the entire income from the sale of manufactured tea was agricultural income within the meaning of section 2(1)(b)(ii) of the income-tax tax act, 1918. the calcutta high court, however, held that though the green leaf from ..... by means of machinery prepared sisal fibre which he sold in the market. the question arose whether the whole of the income derived by the assessee was exempt from tax as being agricultural income. the patna high court held that it was so exempt and the ground on which the patna high court based its .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]114ITR302(Guj)
..... have been applied to the concept of 'agricultural land'. 13. in commissioner of income-tax v. manilal somnath : [1977 ..... tax act, the agricultural land is exempted from the definition of 'assets' in the wealth-tax act and wealth-tax has to be paid on the net assets held by an assessee and the question of what constitutes 'agricultural land' is common for assessment for wealth-tax purposes and assessment for capital gains under the income-tax act and the same principle under the wealth-tax act and the income-tax act ..... it appears to us that the tribunal has not correctly applied the law for determining as to what is agricultural land for the purpose of section 2(14)(iii) of the income-tax act, 1961, as it stood prior to march 31, 1970. 27. it is true that, ordinarily, .....
Tag this Judgment!Court : Gujarat
Reported in : (1981)22CTR(Guj)168; [1981]131ITR120(Guj)
..... on the facts and in the circumstances of the case, the tribunal was right in law in holding that the lands in question were non-agricultural lands and, therefore, liable to capital gains under the income-tax act, 1961 ?' 2. one error seems to have crept into the order of those tribunal in para. 3 because there the tribunal has observed ..... and the sale of such lands could not result in capital gains under the i. t. act. the ito came to the conclusion that the surplus on the sale of lands was not agricultural income and the lands were not agricultural lands and, therefore, the assessee was liable to pay capital gains in respect of the profit made by him ..... and if the presumption raised either from actual user of the land or from agricultural use of the land is to be rebutted, there must be material on the record to rebut that presumption. the approach of the fact - finding authorities, namely, the income-tax authorities and the tribunal should be to consider the question from the point of .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]106ITR494(Guj)
..... what constitutes a 'body of individuals' for the purposes of the income-tax act and particularly in section 47(ii). secondly, the tribunal has not considered and applied its mind to the question whether this particular plot of land, namely, survey no. 170-1 was agricultural land or not. if we were to call for a supplementary statement ..... this particular survey no. 170-1 was agricultural land at the relevant time, the one-third share of the assessee in that plot of land would not be a capital asset and the transfer of that one-third share would not be attract the provisions of section 45 of the income-tax act. it would be open to the ..... was distinguished; though we do not agree with the conclusion of the learned judges of the andhra pradesh high court regarding this distinction between the provisions of the gift-tax act and the income-tax act, we do agree with the following observations of those learned judges in : [1977]106itr111(ap) : 'we are of the view that the expression 'body .....
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