Judgment Search Results Home > Cases Phrase: agricultural income tax act 1957 section 3 charge of agricultural income tax Court: delhi Page 6 of about 171 results (0.476 seconds)

The Commissioner of Income Tax-Iii vs.m/s Sudev Industries Limited

Court : Delhi

..... appropriate for our case would be observations of the bombay high court in devidayal and sons (supra) that provisions of section 63 (2) of the ita no.805 /2005 page 8 of 29 income tax act, 1922 requiring that the notice in case of a firm may be addressed to any partner of the firm merely prescribes permissive mode of service and was not intended to be either mandatory or ..... : this appeal by the revenue under section 260a of the income tax act, 1961 (act, for short), relates to assessment year 1995-96 and arises from order dated 30th march, 2005 passed by the income tax appellate tribunal (tribunal, for short) in the case of m/s sudev industries limited (hereinafter referred to as, the respondent-assessee ..... income tax act, 1961, and the differently worded provisions of the income tax act, 1922 in the following manner:-"taken by in this court "2..........section 34 conferred jurisdiction on the income tax officer to reopen an assessment subject to service of notice within the prescribed ..... in agricultural company rampur versus commissioner of income tax, (1974) 93 itr353(delhi), notice was issued to the dissolved firm and ita no.805 /2005 page 7 of 29 accepted by an accounts ..... test as laid down in malchand surana (supra) and agricultural company rampur (supra) applies. ..... in agricultural company rampur (supra), though no notice was served on the firm, yet it was treated as a valid service as notice was accepted by the accountant, who was working for the assessee firm as well as for the .....

Shri Ashwani Kumar, Jai Laxmi Cane Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

..... thus, on the date of acceptance of loan, if both the persons, namely, lender and borrower are having agricultural income and do not have income chargeable to tax under the income-tax act, section 269ss is not applicable. ..... is taken or accepted and the person by whom the loan is taken or accepted are both having agricultural income and neither of them has any income chargeable to tax under this act, section 269ss do not apply to them. ..... is relevant for our discussion is extracted herein: provided further that the provisions of this section shall not apply to any loan or deposit where the person from whom 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 has any income chargeable to tax under this act.reading the aforesaid proviso, it is clear that if the person from whom the loan .....

Ch. Ranjit Singh Vs. Ito

Court : Delhi

Reported in : [2006]7SOT151(NULL)

..... case (supra), considering the provisions of the karnataka agricultural income tax act, 1957, the hon'ble karnataka high court held, inter alia, that having regard to the limitations prescribed for exercise of jurisdiction under section 36 of the act as it stood at the relevant time, i.e. ..... the learned commissioner (appeals) has erred in law as well as on facts in upholding the assumption of jurisdiction under section 147 by the assessing officer and issuance of a notice under section 148 of the act to the appellant inasmuch as there has been no escapement of assessment of income chargeable to tax and as such, resort to action under section 147 is illegal and without jurisdiction.2. ..... and since the assessed failed to file his return of income voluntarily, the assessing officer was right in invoking sections 147 and 148 of the act, after duly recording reasons.6.1 apropos the arguments of the learned counsel for the assessed with regard to 'income chargeable to tax which has escaped assessment', attention has been drawn to explanation 1 to section 149(1) and explanation 2 to section 147 of the act. ..... gathers support from explanation 2 to section 147 of the act, which deems certain cases where 'income chargeable to tax' has escaped assessment. ..... of the assessed is that as on 30-3-1999, the stand of the assessed regarding interest on loan was in the record of the assessing officer and this ought not to have been ignored in determining income chargeable to tax under section 149 of the act. .....

The Commissioner of Income Tax, Delhi-1, New Delhi Vs. Mahalaxmi Sugar ...

Court : Delhi

Reported in : ILR1972Delhi290; [1972]85ITR320(Delhi)

..... 2,90,000.00 on interest and claimed deduction on the amount of interest paid under section 5 (k) of the madras plantations agricultural income-tax act, the provisions of which section are word for word a reproduction of the provisions of section ]0(2)(xv) of the indian income-tax act, 1922. ..... , while examining the scope of section 10(2)(x) and section 10(2)(xv) of the income-tax act observed that section 10(2) (x) was a specific provision which relates to the bonus or commission paid to an employee for services rendered by him while section 10(2) (xv) deals with any expenditure, not being in the nature of capital expenditure or personal expenses of the assessed laid out or expended wholly and exclusively for the purposes of such business, profession or vocation. ..... there is no warrant in law that in carrying on a business an assessed may at its sweetwill infringe the law and if in answer to a charge for infringment the assessed had to incur some expenses or deposit some amount by way of penal interest, the assessed can with justification assert that the amount so spent or penal interest so deposited was legitimate business ..... 1 of 1938 was to be charged on the estate and under section 46 of the aforesaid ordinance if the same was not paid within an year of the death of the last owner of the estate, interest at the rate of 4 per cent was chargeable on it. ..... the cess became payable on which penal interest was also .charged for default to pay the cess in time. .....

Commissioner of Income-tax Vs. Orissa Cement Ltd. (No. 2)

Court : Delhi

Reported in : [2002]254ITR412(Delhi)

..... it is on account of this situation that section 59(2) of the income-tax act provides for rules being made for prescribing the manner in which and the procedure by which incomes derived in part from agriculture and in part from business shall be arrived at.'11 ..... at the instance of the revenue, two questions, which are in the following terms, have been referred by the income-tax appellate tribunal for the opinion of this court, under section 256(1) of the income-tax act, 1961 (in short 'the act') :'1. ..... from the production of the cane, the entire profit of the mills from the sale of the sugar would have to be included in the taxable profits under section 10 of the income-tax act. ..... but section 4(3)(vii) exempts agricultural income as defined in section 2(1). ..... or dichotomy of the 'incomes, profits or gains' of the business and of agricultural income, so that there has to be an apportionment between the two in order to determine the taxable income of an assessed. ..... it was held that (page 139) :'that even in cases where the profit resulting from an ultimate activity is brought to tax there could be an apportionment if there were an exemption in respect of the profits resulting from distinct activities at earlier stages is illustrated by the provisions of the indian income-tax act itself. ..... cit : [1966]59itr514(guj) , 1 am of the view that the assessed was entitled to relief under section 80i and the claim made by the assessed should have been allowed by the income-tax officer accordingly. .....

Commissioner of Income Tax Vs. Umrao Singh

Court : Delhi

Reported in : 70(1997)DLT598

..... 1.4.1970 and the explanationn added to sub-section (1-a) of section 2 of the income tax act defining the agricultural income by the finance act, 1989 giving retrospective effect from 1.4.1970 ..... this is a reference under 256(i) of the income tax act, at the instance of the revenue arising out of the assessment year 1976-77 seeking opinion of the high court on the question of law : 'whether,on the facts and in the circumstances of the case, the tribunal was correct in following the bombay high court ruling in 128 itr 87 and deleting the capital gains tax on compulsory acquisition of agricultural land? ..... the law had changed with retrospective effect by the amendment incorporated in sub-section (14) of section 2 of the income tax act by the finance act, 1970 w.e.f. ..... assessed did not declare any capital gains on the ground that it was outside the ambit of capital assets as defined in the income tax act, 1961. ..... 196 itr 269, their lordships of the supreme court have held that the agricultural land situated within municipal limits was a capital asset within the meaning of section 2(14)(iii)(a). ..... : [1981]128itr87(bom) held that capital gains could not be taxed on transfer of agricultural land in this case. ..... for the foregoing reasons, it is held that the tribunal was not right in deleting the capital gains tax on compulsory acquisition of agricultural land. ..... , as noticed hereinabove, the profits and gains arising from the transfer of such agricultural land will be assessable to capital gains tax. .....

Rajesh Gupta Huf vs.principal Commissioner of Income Tax-11 & Anr.

Court : Delhi

..... of the case are that the assessing officer (ao) added 40,40,000/- under section 50c of the income-tax act, 1961 [hereafter the act for short].. ..... income-tax officer determined the cost to the assessee of the mineral rights and after deducting this amount from the salami, he assessed the balance to tax as capital gains under section 12-b of the said act ..... commissioner of income tax, air1988sc1305 the court observed as follows: the next question which we have to consider is whether the provisions of section 12-b of the said act can be brought into play, although, what was transferred was only lease hold interests in the lands ..... this decision has been cited without comment by kanga and palkhivala in their commentary on the law of income-tax (7th edition) at page 550 and no contrary case has been cited in the said text book or has been ita2462018 page 5 of 6 brought to ..... by the assessee - a hindu undivided family (huf), questions an order of the income tax appellate tribunal (itat) which allowed the revenue s appeal.2. ..... assessment proceedings, the assessee was asked to explain as to why section 50c of the act be not invoked with respect to the consideration received on sale of agricultural land as assessed by the authorities for the purpose of stamp ..... connection, it is significant that the leases are for a long period of 99 years and in all the transactions of lease premium has been charged by the assessee for the grant of the lease concerned. ..... a premium has been charged by the assessee in all .....

Arvind Construction Co. Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)51ITD79(Delhi)

..... of the kerala high court relates to allowing deduction under section 5 of the kerala agricultural income-tax act, 1950 and has considered the meaning of the word "jeep" keeping in view the said provisions.similarly, in the decision of the tribunal mentioned above, which relates to disallowing wasteful expenditure, reliance has been placed on the decision of the allahabad high court in gopal enterprises' case (supra) wherein certain notifications relating to levy of sales-tax were interpreted. ..... kerala high court in the case of good hope plantation (supra), the learned counsel pointed out that the said decision was for interpretation of entry iiib(i) of rule 9 of the kerala high court agricultural income-tax rules, 1951 for the purpose of allowing deduction and that the said decision should not be relied upon for including "jeep" within the expression "motor-car". ..... decision of the kerala high court in the case of commissioner of agricultural income-tax v. ..... these definitions and having regard to the intention of the legislation we hold that the expression "motor-car" as used in section 40(3)(vii) of the finance act, 1983 will include jeeps and jongas and their value will be includible in the net wealth of the assessee-company. ..... observed in the said decision that "the intention behind the insertion of section 37(3a) was to disallow part of only car expenses as was apparent from explanation (c) where also the reference had been made for expenditure on hire charges for engaging cars. .....

Jayabharat Credit and Investment Co. Ltd. Vs. Lt. Governor of Delhi an ...

Court : Delhi

Reported in : 1992(24)DRJ77

..... in this reply it has been stated that the applicant has admitted of having substantial agricultural income and assets and being a transporter. ..... the other hand, the petitioner has wrongly stated in the reply that the applicant has admitted having substantial agricultural income and assets. ..... with a view to surmount this difficulty, the provisions of section 17b were added to the act with clear intention to give relief to the workman during the pendency of litigation in the high court or supreme ..... the applicant-workman in the application has stated that while he was in the employment of the petitioner he was having agricultural land in haryana and from which he was deriving some income. ..... (11) in my opinion, since the conditions laid sown in section 17b of the act are satisfied, in the facts and circumstances of the case, respondent ..... i have given careful consideration and am of the considered opinion that the conditions laid down in section 17b of the act stand fully satisfied in the present case. ..... is evident from the affidavit of the applicant that from the business of running the buses, which were purchased by selling his own agricultural land, he has suffered losses. ..... (1) this is an application under section 17-b of the industrial disputes act, 1947 (hereinafter referred to as the act) for payment of wages to the workman-respondent no.3 from the date of institution of proceedings till the pendency of the writ petition before this ..... , the applicant's brother who is an income tax assessed. .....

Municipal Corporation of Delhi Vs. N.K. Gupta

Court : Delhi

Reported in : 151(2008)DLT505; 2008(105)DRJ218

..... commissioner of income tax (1943) 2 itr 513, member for the board of agriculture v. ..... this conclusion was reached on an interpretation of article 35 of schedule 1 (a) to the stamp act as applicable to delhi and section 147 to the delhi municipal corporation act, 1957 ('dmc act'). ..... the writ petitions challenged the validity of the notices issued by the collector of stamps under section 40 of the indian stamp act, 1899 ('stamp act') demanding transfer duty as well as deficient stamp duty and penalty equal to ten times of the deficient duty.2. ..... the question whether the word 'premium' is also subsumed in the words 'whole amount or value of the rent' occurring in section 147(2)(b)(v) dmc act has to be answered with reference to the context in which the word is used in the lease deeds in question. ..... in niagara hotels & builders (p) limited a learned single judge of this court held that the word 'or' in section 147(2)(b)(v) dmc act could not be read in a manner so as to enable mcd to levy the transfer duty on an aggregate both the premium amount as well as the rent. ..... on the question of penalty, the learned single judge came to the conclusion that in terms of section 40 of the stamp act, the power to impose a penalty was consequential upon the collector of stamps impounding an instrument. ..... union of india : 65(1997)dlt826 , the learned single judge concluded that the words 'amount' and 'value' in section 147(2)(b)(v) dmc act did not refer to the premium collected for the grant of the lease. .....