Court : Mumbai
Reported in : AIR1965Bom224; (1965)67BOMLR101; ILR1965Bom394; 1965MhLJ290
..... of the supreme court in pannalal binjraj v. union of india : [1957]1scr233 . in that case power was given by section 5(7-a) of the indian income-tax act to the commissioner to transfer the case of any assessee from one officer to another officer. it was urged that the assessee had a right under section 64 (1 ..... the urgency clause has been wrongly applied to the petitioner's lands. the petitioner's land is neither waste nor arable land. it is land fit for non-agricultural industrial use and building purposes immediately. the lands have already been surveyed and plans have been prepared for construction thereon long before notification under section 4 was issued. ..... was held that 'arable land as the expression is used in section 17 subsection (1), cannot include land which is under cultivation either or agricultural crops or fruit-bearing trees from which income is derived by the land owner'. reference was also made to the meaning of the word 'arable' as given in the oxford english dictionary, .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1966Bom4; (1965)67BOMLR294; ILR1965Bom531
..... 1956 on the company under section 46 (5 - a) of the indian income - tax act 1922 where by the additional income - tax act 1922, where by called upon the company to pay on account of narayanalal bansilal in liquidation of the said income - tax dues. the additional income - tax officer had pointed out to the company that any payment that would be made ..... the extent to which such payment would be made by the company to narayanlal bansilal. in other word s under the relevant provisions of income - tax act the income - tax authorities had served prohibitory order and had in effect attached the debt of rupees twenty five lakhs and odd in hands of the company. it ..... between narayanlal bansilal and his sons balkrishna narayanalal narayanalal on the hand and the company on the other, the said sugarcanes farm with the all the crops, buildings agricultural equipment's bridges, tool pumping live - stock carts et. was sold to the company for rupees forty lakhs out of this price of rupees forty lakhs, .....
Tag this Judgment!Court : Mumbai
Reported in : (1965)67BOMLR394; [1965]57ITR455(Bom)
..... loss.' 9. in a recent case of the supreme court, state of madras v. g. j. celho, under the madras plantations agricultural income-tax act, 1955, the assessee claimed in computing his agricultural income from his plantations, the entire interest paid by him on monies borrowed for the purpose of purchasing the plantations as expenditure laid out ..... assessee from the profits and gains of his business for the under a provision of the madras plantation agricultural income-tax act, which was identical with the provision of section 10(2)(xv) of the indian income-tax act. after having applied the tests, the supreme court held that the payment of interest was a revenue ..... for the purposes of the plantation under section 5(e) of the said act. it may be pointed out that the in the madras plantations agricultural income-tax act there was no provision corresponding to section 10(2)(iii), of the indian income-tax act, which allowed the deductions of interest on borrowed capital. the provision of section .....
Tag this Judgment!Court : Mumbai
Reported in : (1965)67BOMLR417; [1965]58ITR140(Bom)
..... a wider sense and not in a restricted sense. 19. further, if it really be the true position as a argued by mr. joshi that all these acts, viz., income-tax act, wealth-tax act, expenditure-tax act, and gift-tax act are allied acts enacted with a certain objective, we fail to see why the legislature would intend to give a restricted meaning to the expression 'charitable purpose'. now, when ..... , the gifts amounting to rs. 3,30,000 are exempt from gift-tax within the meaning of section 5(1)(vi)(a) of the gift-tax ac ?' 2. the assessee executed a settlement of january 18, 1956 setting apart certain agricultural lands valued at rs. 5 lakhs in trust. the income of this property was to be utilised in the manner indicated in the .....
Tag this Judgment!Court : Mumbai
Reported in : [1966]60ITR699(Bom)
..... was claimed as a deduction under section 5(e) of the madras plantations agricultural income-tax act, 1955. it may be stated that the provisions of section 5(e) of the madras act are in pari material with the provisions of section 10(2)(xv) of the indian income-tax act. it was the contention of the revenue that the the expenditure incurred ..... of the tribunal's appellate order and, therefore, it is not open to the assessee to raise such a question before this court under section 66(2) of the income-tax act and claim a deduction therein. 7. material part of section 66 provides : '(1)... the assessee or the commissioner may, by application... require the appellate tribunal to ..... a capital nature...' 4. in this view of the matter, the tribunal dismissed the appeal. the application made by the assessee under section 66(1) of the income-tax act was dismissed by the tribunal. the assessee then moved this court by an application under section 66(2) and on a requisition made by this court the aforesaid .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1966Bom134; (1965)67BOMLR823; ILR1966Bom526
..... distrain the moveable the collectors to and have it sold. i have already referred to the provisions of s. 46 (2) of the income - tax act of 1922 which provided that the arrears of income - tax can be provided that it they were the arrears of land revenue. that mean that the circle officer was exercising the delegated powers when he ..... that the union government could not be responsible for wrongfully seizure of the goods because all that the income -tax officer did was to send a certificate under s. 46 (2) of the income -tax act. in addition to the certificate, the income -tax officer wrote a letter to the collector in which he stated that the firm had the stock of ..... co-operative bank ltd., lasalgaon defendants nos 1 and 2 were the constituents of the bank should make advances to defendants nos 1 and 2 on the security of agricultural produce such as grounds dnuts, jaggery. tobacco etc. this agreements took place on 20th november 1952. the plaintiff was to make advances to defendants nos 1 and .....
Tag this Judgment!Court : Mumbai
Reported in : [1966]62ITR87(Bom)
..... to consider the question whether the salami receipts received by the zamindars for the settlement of agricultural land at the time of granting the lease could be regarded as agricultural income within the meaning of the assam agricultural income-tax act. salami in that case was charged and taken from the tenant before making a settlement ..... meaning of the word used in the definition of 'agricultural income' in section 2(1) (a) of the assam agricultural income-tax act, 1939. it had all the characteristics of a capital payment and it was not revenue. consequently, it was not agricultural income within the meaning of the act. now, according to the tribunal, the nature ..... made, whether it was a piece of virgin land or of an auction-purchase holding. 'agricultural income' as defined in the agricultural income-tax act was any rent or revenue derived from land, which was used for agricultural purposes. the question before their lordships was whether the salami receipts were rent or revenue derived .....
Tag this Judgment!Court : Mumbai
Reported in : [1968]68ITR512(Bom)
..... assessable business profits of the company. it could not be apportioned as the income-tax officer has done on the basis that part of the income of the company was agricultural income and therefore liable to the income of the company was agricultural income and therefore liable to exclusion under section 4(3) (vii) of the income-tax act. the appellate assistant commissioner did not accept the contention of the assessee ..... . firstly, according to him, rule 23 permitted the splitting up of the income and the disallowance of the expenditure attributable to the agricultural income of .....
Tag this Judgment!Court : Mumbai
Reported in : [1968]22STC116(Bom)
..... the state of gujarat v. raipur . [1967] 19 s.t.c. 1, which was reiterated by the supreme court in the subsequent case of deputy commissioner of agricultural income-tax and sales tax, quilon v. travancore rubber and tea co. [1967] 20 s.t.c. 520, the burden of proving that the assessee was carrying on the activity in question ..... disposals, calcutta, government of india, was not carrying on the business of buying or selling goods within the meaning of section 2(c) of the bengal finance (salts tax) act (6 of 1941), it was stated in the majority judgment delivered by sikri and ramaswami, jj., as follows : 'to infer from a course of transactions that it ..... : unnecessary. 11. we order that the respondents do pay the applicant's costs of this reference fixed at rs. 250. under section 61(5) of the bombay sales tax act, 1959, we order that the amount of rs. 100 deposited by the applicant-society along with their application for making this reference be refunded to it. 12. reference answered .....
Tag this Judgment!Court : Mumbai
Reported in : [1969]39CompCas238(Bom)
..... , no doubt, has been held to be the proper canon of construction by the calcutta high court in commissioner of agricultural income-tax v. raja jagdish chandra deo and by the patna high court in kameshwar singh v. commissioner of income-tax, and we certainly accept that canon of construction.' 7. though the judgment of tendolkar j. was the dissenting judgment ..... . it is on the above facts that the following question of law has been referred to us under section 66 of the indian income-tax act, 1922, namely : 'whether, having regard to the facts and circumstances of the case, the assessee-bank is in law entitled to have the amounts of share ..... way of premiums on shares which had been credited to its reserve fund as stated above. the commissioner of income-tax, exercising his powers of revision under section 33b of the indian income-tax act, 1922, however, came to the conclusion that the income-tax officer was wrong in including the share premium as part of the paid-up capital of the bank, .....
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