Judgment Search Results Home > Cases Phrase: agricultural income tax act 1957 section 19a omitted Page 90 of about 2,595 results (0.171 seconds)

Aspinwall and Company Ltd. Vs. Inspecting Assistant Commissioner

Court : Kerala

..... assessment of the amalgamating company namely, the assessee. two level appeals filed against the assessment were rejected and consequently assessee has filed this otc under s.78 of the kerala agricultural income tax act, 1991 before us. we have heard senior counsel sri. sarangan appearing along with adv. sri. p. balakrishnan for the assessee and government pleader sri. mohammed rafeeq for the state. 2 ..... year onwards by virtue of introduction of r.7a to the income tax rules with effect from 01/04/2002, income from manufactured rubber was determined as if it is income assessable under the central act and thereafter 35% of the income so computed was subject to tax under the central act and 65% was assessed under the agricultural income tax act of the respective state. following r.7a, the assessee computed .....

Commissioner of Income-tax Vs. U.P. Rajya Sahkari Bhumi Vikas Bank Ltd ...

Court : Allahabad

Reported in : [1994]208ITR758(All)

..... the circumstances of the case, the tribunal was legally justified in holding that the income earned in respect of the shares of the agricultural refinance corporation and the unit trust of india is income from business carried on by the assessee and is exempt under section 80p(2) of the income-tax act, 1961 ?' 2. the respondent-assessee is a co-operative society giving long-term ..... the agricultural refinance corporation as well as certain units of the unit trust of india. in the assessment years in question, the assessee put up a claim that the income received by way of dividend and interest, etc., attributable to the shares and units held by the assessee was liable to be deducted from its gross income under section 80p(2) of the income-tax act .....

Commissioner of Income-tax Vs. Mohd. Khaleel

Court : Andhra Pradesh

Reported in : [1991]188ITR449(AP)

..... of land used for agricultural purposes amounts to 'agricultural income' and hence no income-tax can be levied. learned standing counsel for the income-tax department has contended that, in order to get over the decision of this court, and explanation has been added to section 2(1a) of the income-tax act by the finance act of 1989 with retrospective ..... arising out of sale of agricultural land of the assessee situate within a distance of 8 kms. from the limits of notified municipality or municipal corporation is agricultural income not chargeable to income-tax having regard to the explanation to section 2(1a) of the income-tax act introduced by the finance act of 1989 with retrospective effect ..... notified municipality is not a capital asset within the meaning of the terms as contained in section 2(14) of the income-tax act?' 2. it is seen from the order of the income-tax appellate tribunal that the tribunal followed the decision of this court in j raghottama reddy v. ito : [1988]169itr174(ap .....

Bhogilal H. Patel Vs. Commissioner of Income-tax (Central) Bombay

Court : Mumbai

Reported in : [1969]74ITR692(Bom)

..... that the assessee could not think of investing his moneys in the lands. it has to be remembered that the agricultural income was free of tax and for a person like the assessee who had a large income, the income-tax saved would itself come to a seizable amount. all these consideration as well as the important consideration that the being ..... the notification issued by the then government of bombay under section 4 and 6 of the land acquisition act in connection with the proceedings for acquisition of about 500 acres of land for the university of gujarat. the income-tax inspector's report dated 17th june, 1957, which was made after the remand order of the tribunal ..... respective orders. this affidavit appears to have been filed in the proceedings commenced against the assessee for the assessment year 1949-50 under section 34 of the indian income-tax act 1922, in respect of the sale of survey no. 148. it was also produced before this court as an annexure to an affidavit filed in this court .....

The Commissioner of Income-tax, Bangalore and Another Vs. M/S. Namdhar ...

Court : Karnataka

..... the state legislature to make laws with reference to tax on agricultural income. entry-82 of list-i of 7th schedule further clarifies this position by empowering the parliament to levy taxes on income other than agricultural income. central government is not empowered to tax this source of income under income tax act. 38a. with this background, one has to see ..... said decision also proposes that contravention of any other law could not be invoked as the constitutional mandate is to treat the definition of agricultural income as per income tax act for all purposes. 26. then coming to third issue, whether the activity of the assessee in making the hybrid seeds as marketable ..... . 2. so far as ita 76/2007, the assessee m/s indo american exports filed return of income claiming the entire amount as agricultural income seeking exemption under section 10(1) of the income tax act (act for short) for the assessment year 1998-99. the assessing officer holding that the entire amount of profit .....

K.V. Abdulla Vs. Income Tax Officer and anr.

Court : Karnataka

Reported in : [1986]161ITR589(KAR); [1986]161ITR589(Karn)

..... beyond the legislative competence of parliament. elaborating this submission, sri sarangan argued that the tax can only be levied under the act on the total income other than 'agricultural income' and parliament by s. 2 of the finance act is really levying tax on agricultural income of the assessee and as the agricultural income can only be taxed under entry 46 in list ii of the seventh schedule, by a state parliament ..... of india. 4. sri k. srinivasan, ld. senior standing counsel for the revenue, argued that the finance act, had only provided for aggregation of 'agricultural income' with the other income of and assessee and it is only the 'total income' as determined under the act was taxed, and not the agricultural income and the provisions providing for aggregation was within the competence of parliament under item 82 in list .....

K. Vs. Abdulla V. Income Tax Officer and anr.

Court : Karnataka

Reported in : (1986)56CTR(Kar)41

..... beyond the legislative competence of parliament. elaborating this submission, sri sarangan argued that the tax can only be levied under the act on the total income other than agricultural income and parliament by s. 2 of the finance act is really levying tax on agricultural income of the assessee and as the agricultural income can only be taxed under entry 46 in list ii of the seventh schedule, by a state parliament ..... of india.4. sri k. srinivasan, ld. senior standing counsel for the revenue, argued that the finance act, had only provided for aggregation of agricultural income with the other income of and assessee and it is only the total income as determined under the act was taxed, and not the agricultural income and the provisions providing for aggregation was within the competence of parliament under item 82 in list .....

Tea Estate India P. Ltd. Vs. Commissioner of Income-tax, West Bengal I ...

Court : Supreme Court of India

Reported in : AIR1976SC1790; [1976]103ITR785(SC); (1976)4SCC446; [1976]SuppSCR145

..... and partly from agriculture. this income has to be computed as if it were income from business under the central income-tax act and the rules made thereunder. forty per cent of the income or computed is deemed to be income derived from business and assessable to non-agricultural income-tax. the balance of 60 per cent of the income so computed is agricultural income within the meaning of the central income-tax act.19. so far ..... from tax as agricultural income under section 4(3) (viii) of the indian income-tax act. the assessee claimed that 60 per cent of the dividend income received by her on her shares in those companies was also exempt from tax as agricultural income. this claim was rejected and it was held that the dividend income received by the assessee was not agricultural income but was income assessable under section 12 of the act. agricultural income as .....

D.L.F. United Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Reported in : (1985)49CTR(Del)126; [1986]158ITR342(Delhi)

..... s business 2. whether, on the facts and in the circumstances of the case, said compensation was the agricultural income of the assessed within meaning of section 2(1)(a) of the income-tax act, 1961, and, as such, is exempt from income-tax 3. whether, on the facts and in the circumstances of the case, the lands, which were the ..... that the investment in land was a capital investment and, hence, the amount of gain resulting from compensation was not even agricultural income. 5. as regards questions nos. 4 and 5, the answers in ..... in question had been used for agriculture and had not been converted and, hence, the answer to the present reference would depend on somewhat different facts. 4. as regards question no. 2, the answer in the reported case was that the compensation was not income within the meaning of the income-tax act. this was based on the view .....

Sri. Thirukkarai Eswarar Temple Devasthanam Vs. State of Tamil Nadu

Court : Chennai

Reported in : [1998]234ITR120(Mad)

..... of the matter that in section 10(1) of the income-tax act, 'agricultural income ..... . likewise, the state of tamil nadu enacted the act (tamil nadu agricultural income-tax act, 1955), under entry 46 of list ii of the seventh schedule. 18. from this, it is crystal clear that the purpose for which the income-tax act was enacted was to tax income, other than 'agricultural income' and the purpose of the enactment of the tamil nadu was to tax 'agricultural income' and nothing further. it is in this view .....