Court : Chennai
Reported in : [2006]281ITR261(Mad)
..... the learned counsel appearing for the appellant and the respondent and perused the material on record. as seen from the language employed under section 32 of the income-tax act, the only requirement is the person claiming depreciation is the owner of the property. the terms 'own', 'ownership' and 'owned' were considered by the ..... 30.3.1976.3. on the said dissolution, the properties in mettupalayam road, sanganur village, coimbatore belonging to the firm, consisting of factory building and agricultural land, were allotted to the appellantuniversal radiators ltd., who were running their factory in the building allotted to them, consequent to the aforesaid dissolution and ..... .1975. under the said agreement, the individuals madhavan and sharada brought into the firm the property situated at sanganur village consisting of factory buildings and agricultural land owned by them, whereas the two companies made their contribution in cash. the firm was so formed in the name of universal real estate .....
Tag this Judgment!Court : Chennai
Reported in : (2006)1MLJ91
..... more heavily on certain goods or persons may not result in its invalidity. as observed by this court in khandige sham bhat v. the agricultural income-tax officer, : [1963]3scr809 , in respect of taxation laws, the power of legislature to classify goods, things or persons are necessarily wide and flexible so as to enable ..... and violative of articles 14, 19(1)(g) and 301 of the constitution of india. the contention put-forth before the division bench was that the amendment act enhancing the tax is violative of article 301 of the constitution and is not saved under article 304(1)(b) of the constitution, hence the levy is violative of article ..... it is not so; or that a valid and permissible classification exists for the differential treatment. there should be nexus between the basis of classification and the object of the act under consideration.16. in federation of hotel and restaurant v. union of india, reported in : [1989]178itr97(sc) , constitutional bench of the supreme court has held that .....
Tag this Judgment!Court : Chennai
Reported in : (2006)205CTR(Mad)495; [2006]283ITR365(Mad)
..... accept the agricultural income declared in the revised returns as genuine and treated the same as ..... :-(i) the assessee is an individual and he filed income tax returns for the assessment years in question, within the time allowed under section 139(1) of the income tax act. the assessee filed revised returns for the assessment years 1989-1990 to 1997-1998 on 6.10.1997. in the revised returns, the assessee disclosed agricultural income for the first time. the assessing officer did not .....
Tag this Judgment!Court : Chennai
Reported in : [2006]284ITR511(Mad)
..... agricultural land within the limits of tirunelveli corporation and he had not put up any construction thereon, the assessee is entitled to claim ..... for the purposes of application of section 54b.10. it is seen from the aforesaid decision that the agricultural land sold by the assessee with an intent to purchase another land within two years had also been permitted to claim exempt under section 54b of income tax act 1961. in the instant case, even though there was no sale as such, the assessee owned .....
Tag this Judgment!Court : Chennai
Reported in : (2006)1MLJ379
..... naidu, coimbatore. as per the document, the other property is in management of the defendants. the plaintiffs were only under agricultural supervision of the properties and getting 2/3 income balance of 1/3 income agreed to be taken by the first defendant. the plaintiffs are alleged to have tampered the account books making corrections thereon ..... the plaintiff on 16.6.1991, the executive magistrate rightly found that the first defendant is in possession. the first defendant has been paying fertilizer bill, house tax receipts, e.b. charges, land revenue and other charges. in crl.r.c. no. 510 of 1993 also, the high court has confirmed the order ..... , the suit for declaration that the plaintiffs are the cultivating tenants of the suit properties and entitled to the protection of tamil nadu cultivating tenants protection act and for delivery of possession.7. the defendants/revision petitioners have filed the written statement contending that in consideration of the evidence adduced by the parties, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chennai
Reported in : (2005)95TTJ(Chennai)1051
..... is a specific provision in the income tax act for computing the income from tea plantation. even though tea plantation is primarily being an agricultural operation, in view of the specific provisions contained in the income tax act, a part of the income was classified as income under the income tax act. the learned representative further submitted that rule 8 of the income tax rules 1962 provides for computation of income from sale of tea grown ..... realized in respect of cancerous. therefore, the learned representative submitted that the legislature intended to treat the livestock differently form that of agricultural product and the plant. the learned representative further invited our attention to section 43(3) of the income tax act and submitted that the word "plant" includes ship, vehicle, books, scientific apparatus and surgical apparatus used for the purpose of business .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chennai
Reported in : (2005)95ITD125(Chennai)
..... tea plantation. accordingly to the learned counsel, there is a specific provision in the income tax act for computing the income from tea plantation. even though tea plantation is primarily being an agricultural operation, in view of the specific provisions contained in the income tax act, a part of the income was classified as income under the income tax act. the learned representative further submitted that rule 8 of the it rules, 1962 ..... , provides for computation of income from sale of tea grown and manufactured by the seller. the learned representative submitted .....
Tag this Judgment!Court : Chennai
Reported in : 2005(1)CTC629; 2005(192)ELT52(Mad); (2005)2MLJ57; [2005]140STC97(Mad)
..... : [1994]210itr129(sc) , the supreme court held that the circulars issued by the central board of direct taxes under section 119 of the income tax act, 1961, could not override or detract from the provisions of the act, as that would be destructive of all known principles of law and would be giving a power to the executive ..... decision, this court was concerned with a circular issued by the central board of direct taxes which sought to bring contracts for rendering professional services within the purview of section 194-c of the income tax act, 1961 requiring deduction of income tax at source. the circular expanded the scope of section 194-c. the counsel for ..... authorities to interpret a notification in a particular manner, the statutory remedy of appeal and revision ceased to be an effective alternative remedy (vide etikoppaka co-operative agricultural society ltd. v. union of india, 1979 elt (533).23. learned senior counsel also relied on the decision of this court in madras bar association .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chennai
Reported in : (2005)95TTJ(Chennai)665
..... as agricultural income were siphoned off from the trust. in short, no link/nexus between such ..... by itself does not appear sufficient reason to conclude that there were no incomes earned by these individuals. true, it may be the case that some incomes so earned were shown as agricultural income without the fact of holding any agricultural land to derive his income. while this act may call for taxing of the that agricultural income, it too cannot be a reason to conclude that the monies represented .....
Tag this Judgment!Court : Chennai
Reported in : (2006)200CTR(Mad)682; [2005]273ITR320(Mad)
..... main business is the manufacture of sugar. the assessee claimed, in its assessment proceedings, weighted deduction on certain expenses under section 35c of the income-tax act, 1961 (hereinafter referred to as 'the act'), but the assessing officer disallowed the following expenses:-1. 50% of motor vehicle maintenance of cane department ... rs. 2,55,112/-2 ..... are of the view, to appreciate the point that arises in the reference, it is necessary to refer to section 35c of the act which reads as under:-'35c. agricultural development allowance- (1)(a) where any company or a co-operative society is engaged in the manufacture or processing of any article ..... feed, tools or implements, for use by such cultivator, grower or producer'(ii) dissemination of information on, or demonstration of, modern techniques or methods of agriculture, animal husbandry, or dairy or poultry farming, or advice on such techniques or methods;(iii) such other goods, services or facilities as may be prescribed.explanation .....
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