Court : Mumbai Goa
..... and a tax on income whether of urban or agricultural property and the tax was in every case a percentage of the income. in our jurisdiction we distinguish between land revenue and agricultural income tax and if any resemblance is to be found, it exists on the side of agricultural income tax. the holders were paying a kind of income tax which only ..... sri ram ram narain medhi vs. state of bombay (supra), is concerned, the challenge therein was to the constitutional validity of bombay tenancy and agricultural lands (amendment) act, 1956. we find that the said judgment will have no bearing on the facts of the present case. as a matter of fact the ..... . sub-section (2) thereof specifically prohibits grant of reconnaissance permit, prospecting licence or mining lease otherwise than in accordance with the provisions of the said act and the rules made thereunder. sub-section (3) thereof provides that the state government may, after prior consultation with the central government and in accordance .....
Tag this Judgment!Court : Mumbai Goa
..... 1. these three appeals filed under section 260a of the income tax act, 1961 (hereinafter referred to as 'the act') challenge the common order dated 26 november, 2014 passed by the income tax appellate tribunal (hereinafter referred to as 'the tribunal')relating to assessment years 2008-09, 2009-10 and 2011-12. by ..... the purposes of this sub-section, - (a) co-operative bank and primary agricultural credit society shall have the meanings respectively assigned to them in part v of the banking regulation act, 1949 (10 of 1949): (b) primary co-operative agricultural and rural development bank means a society having its area of operation confined to ..... taluka and the principal object of which is to provide for long- term credit for agricultural and rural development activities. banking regulation act 1949 section 5 (ccv) : primary co-operative bank means a co-operative society, other than a primary agricultural credit society - (1) the primary object or principal business of which is transaction of .....
Tag this Judgment!Court : Mumbai Goa
..... property i.e. agricultural or not. thus there is no warrant for the court to interfere at this stage with the impugned show cause notice. so far as the freezing of the bank account is concerned, it was contended that the assistant director under section 37 of fema has powers of the income tax officers under the income tax act 1961 and is ..... 2014 freezing the petitioners' fixed deposit account in bank of baroda is submitted to be in terms of section 132 (3) of the income tax act 1961. however, in terms of sections 132 (8) of the income tax act 1961 the life of such a freezing order is only 60 days. admittedly, the period of 60 days have long expired after the ..... entitled to freeze bank account and this was done on 17/11/2014 in terms of section 132 (3) of the income tax act, 1961. thus the communication dated 17/11/2014 is also valid in law and .....
Tag this Judgment!Court : Mumbai Goa
..... 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 had any income chargeable to tax under this act.] section 271d (1) if a person takes or accepts any loan or deposit in contravention of the provisions of section 269ss, ..... not mean that the borrower can refuse to pay the amount which he has borrowed simply, because there is some infraction of the provisions of the income tax act. infraction of provisions of income tax act would be a matter between the revenue and the defaulter and advantage thereof cannot be taken by the borrower. in my humble view, to say ..... that in krishna janardhan bhat (supra) attention of the supreme court was possibly not drawn to the actual wording of section 269ss of the income tax act. he submitted that section 269ss of the income tax act, in fact, does not cast any burden upon a person making advance in cash to record it in his returns and does not prevent .....
Tag this Judgment!Court : Mumbai Goa
..... witness box for the purpose of rebuttal of the said presumption. there is one more circumstance in this case which turns upon the applicability of section 269 ss of the income tax act. in the case of krishna janardan bhat vs. dattatraya g. hegde, reported in (2008)4 scc 54), the hon'ble supreme court has inter alia held that ..... filed any income tax returns. it is further stated that the ..... then stated that the balance amount was given from the income of his wife, besides the rental income and income from agriculture. he then stated that he paid the amount of rs.30,000/- for the second time, even when the earlier amount was not repaid. he has stated that he has paid income tax till 2004 and after his retirement, he has not .....
Tag this Judgment!Court : Mumbai Goa
..... -2000 and 2000-2001. for the assessment year 1997-1998, the assessee had filed return of income on 15/10/1997 which was processed under section 143(1) of the income tax act, 1961( i.t. act, for short) and proposal under section 151(2) of i.t. act 1961 was sent by the assessing officer to the office of j.c.i.t., range- 2 ..... out of such business, cannot be brought under section 44a of the i.t. act. such associations would be covered under section 80p of the i.t. act for exemption of income. however, such income must be derived from purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members. the respondent is not engaged in .....
Tag this Judgment!Court : Mumbai Goa
..... to the accused or that the amount of rs.5 lakhs alleged to have been given by him to the accused, was contrary to income tax act and income tax rules. the complainant admitted that there was no document terminating or cancelling the memorandum of understanding dated 25/07/2008 which was for sharing ..... a pawnbroker but does not include - (i) government, (ii) a local authority, (iii) a bank, (iv) the agricultural refinance corporation constituted under the agricultural refinance (and development) corporation act, 1963 (central act 10 of 1963) or (v) any other banking, financial or any institution which the government may, by notification in the official ..... his employer. explanation: - the expression tenant shall have the meaning assigned to it in the goa, daman and diu agricultural tenancy act, 1964 (act 7 of 1964), or any other relevant tenancy law in force relating to tenancy or agricultural lands; section 2(l)- money-lender means, - (i) an individual; or (ii) an undivided hindu family .....
Tag this Judgment!Court : Mumbai Goa
..... to the accused or that the amount of rs.5 lakhs alleged to have been given by him to the accused, was contrary to income tax act and income tax rules. the complainant admitted that there was no document terminating or cancelling the memorandum of understanding dated 25/07/2008 which was for sharing ..... a pawnbroker but does not include - (i) government, (ii) a local authority, (iii) a bank, (iv) the agricultural refinance corporation constituted under the agricultural refinance (and development) corporation act, 1963 (central act 10 of 1963) or (v) any other banking, financial or any institution which the government may, by notification in the official ..... his employer. explanation: - the expression tenant shall have the meaning assigned to it in the goa, daman and diu agricultural tenancy act, 1964 (act 7 of 1964), or any other relevant tenancy law in force relating to tenancy or agricultural lands; section 2(l)- money-lender means, - (i) an individual; or (ii) an undivided hindu family .....
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