Judgment Search Results Home > Cases Phrase: agricultural income tax act 1957 section 3 charge of agricultural income tax Sorted by: recent Court: delhi Page 1 of about 171 results (0.042 seconds)

inspecting Assistant Vs. Dhampur Sugar Mills Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1989)28ITD57(Delhi)

..... in this connection attention is invited to corresponding provisions in the income-tax act, wealth-tax act and the estate duty act, where a charge is created in favour of the state and simultaneously liability of the taxpayers also springs up. ..... to time, fix the minimum price of sugarcane to be paid by producers of sugar or their agents for the sugarcane purchased by them, having regard to-- (b) the return to the grower from alternative crops and the general trend of prices of agricultural commodities ; (d) the price at which sugar produced from sugarcane is sold by producers of sugar ; and provided that the central government or, with the approval of the central government, the state government may, in such circumstances and ..... referring to the income-tax act one notices that ascertainment of liability is rather a very complicated process after making a provision of allowances and disallowances interspersed in 298 sections of the it act and numerous income-tax rules. ..... subject to the other provisions contained in this act, there shall be charged for every assessment year commencing on and from the first day of april, 1957 a tax (hereinafter referred to as wealth-tax) in respect of the net wealth on the corresponding valuation date of every individual, hindu undivided family and company at the rate or rates specified in schedule i. 5. .....

Shiv Shanker Lal Vs. Commissioner of Income Tax, Delhi

Court : Delhi

Reported in : ILR1973Delhi298; [1974]94ITR433(Delhi)

..... raja benoy kumar sahas roy : [1957]32itr466(sc) and the supreme court while recognising the force of the above opinions did not, however, pressed them into service for deciding the question before it, namely, the meaning of the expression 'agricultural income' as defined in article 366(1) of the constitution and section 2(1) of the income-tax act, 1922. ..... on pain of being hauled up for having attempted to avoid or reduce the tax liability and on that basis made liable to tax on the difference between the consideration for the transaction and the fair market value nor does it treat what is not an actual capital gain as a deemed capital gain but it must be limited to escaped capital gain, which is so in truth and in fact, and is not intended to bring about a fictional gain on an assumption and charge the same. ..... at the same time, the land revenue and the canal water charges were being regularly paid in respect of this land. ..... there would have been no purpose in charging a high price which was to be paid by his own kith and kin, even if the price was not to be paid in cash but in terms of shares. ..... property for its full market value which, as a matter of fact, he did not receive from the company in terms of cash but for which he will have to incur additional expenditure by way of stamp duty and registration charges. ..... but a full bench of the same high court in officer-in-charge v. .....

Commissioner of Wealth Tax Vs. Mohan Exports India P. Ltd.

Court : Delhi

..... (1) notwithstanding anything contained in section 13 of the finance act, 1960, (13 of 1960) relating to exemption of companies from levy of wealth-tax under the wealth-tax act, 1957 (27 of 1957) (hereinafter referred to as the wealth-tax act), wealth-tax shall be charged under the wealth-tax act for every assessment year commencing on, and from the 1st day of april, 1984 in respect of the net wealth on the corresponding valuation date of every company, not being a company in which the public are ..... , and whether or not worked or sewn into any wearing apparel; (iv) utensils made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals; (v) land other than agricultural land [provided that nothing in this clause shall apply to any unused land held by the assessee for industrial purposes for a period of two years from the date of its acquisition by him;] (vi) building or land appurtenant ..... explanation: for the purposes of this clause, relative shall have the meaning assigned to it in clause (b) of explanation 1 to section 80f of the income tax act] (vii) motorcars, and (viii) any other asset which is acquired or represented by a debt secured on any one or more of the assets referred to in clause (i) to clause (vii) [provided that this section shall not apply to any asset referred to in clause (i), (ii), (iii), (iv) are held by the assessee as stock in trade in a business carried on by it or, in the case of motor-cars .....

Commissioner of Income-tax, Delhi Vs. Mansarovar Commercial (P.) Ltd.

Court : Delhi

..... , "whether the itat was right in law in holding that the assessee is not a resident of india within the meaning of section 6 (3) (ii) of the income-tax act, 1961 and whether the said finding of the itat is not also vitiated and perverse as it ignores relevant admissible evidence and materials and relies upon incorrect facts and has not given ..... regards the interest under sections 234 a and 234 b of the act, the cit(a) held that the interest under section 139(8) and 215/217 of the act have been correctly charged for the three ays ..... november, 1988 issued under article 371-f(n) of the constitution, the act, the wealth tax act, 1957 and the gift tax act, 1958 were extended to the state of sikkim. ..... (ix) the itat's conclusion that the interest under sections 234 a and 234 b of the act could not be charged since a specific notice in that behalf was not issued by the ao is unsustainable in ..... each of the assessee companies claims to be carrying on the business of commercial agents in cardamom and other agricultural products and having bank accounts with uco bank, gangtok and state bank of india (sbi), gangtok and kasturba gandhi marg, ..... such extension of the act to sikkim by a notification issued under article 371- f (n), income tax was to be charged and collected under the sikkim state income-tax manual 1948 (sikkim ..... the itat's conclusion that the interest under section 234a and 234b would not be charged since a specific notice in that behalf was not issued by the ao, was based on the decision .....

Smt. Indu Khorana Vs. Gram Sabha and ors.

Court : Delhi

..... also noted in the order of reference dated 25.08.2004 that, under the income tax act, capital gain is exempted when agricultural lands are compulsorily acquired and when agricultural land in an urban area is acquired, what would happen to those provisions of the income tax act. ..... the issues under the income tax act about the capital gains, being exempt when agricultural lands are acquired and what would be the position while valuing the capital cost of the land under the wealth tax etc. ..... the stand of the petitioner before the single judge was that the land in question had been urbanized vide notification issued by the mcd dated 24.10.1994 under section 507 of the delhi municipal corporation act, as such the area in question ceased to be a rural area and the revenue authorities had no jurisdiction to deal with the matter and impugned order was liable to be ..... 09.05.2006 wherein a suit for partition was filed in respect of an abadi land of a village mauzpur, delhi which by notification issued by municipal corporation of delhi approved by central government in exercise of powers conferred by clause (a) of section 507 of mcd act, 1957 was declared as an urban area. ..... hold that once rural area is urbanized by issuance of notification under section 507(a) of the delhi municipal corporation act, 1957, provisions of delhi reforms act will cease to apply. ..... the question of charging property tax by the mcd in an urbanized area has been considered and concluded by division bench of this court in .....

Delhi Urban House Owners Welfare Association, Vs. Union of India,

Court : Delhi

Reported in : 60(1995)DLT644; 1996(37)DRJ126; 1995RLR533

..... contained in sections 23 and 24 of the income-tax act, 1961.(15) ..... agricultural income tax officer : [1963]3scr809 , where the court said that where there was more than one method of assessing tax and the legislature selected one out of them, the court would not be justified to strike down the law on the ground that the legislature should have ..... the same is collusive or concessional of similar or nearly similarly situated locality of which letting commenced in the year of assessment; (e) 'premises' shall have the same meaning as defined in sub-section (38) of section 2 of the act; (f) 'rent' includes :- (i) license fee, commission, supervision charges, ware-housing charges or such other payments, by whatever name called, made by the occupier 133 of use of the premises and the amenities provided therein ..... (1) in these bye laws:- (a)'act' means the delhi municipal corporation act, 1957 (66 of 1957 as amended); (b)cost of premises means:- (i) where the premises have been acquired by purchase or through any transaction ( where by way of becoming a member of, or acquiring shares in a co-operative society, company or other association ..... in these bye-laws, (1) 'act' means the delhi municipal corporation act, 1957, as amended; (2) 'building', 'land', 'premises', 'owner' and 'occupier' means 'building', land', 'premises', 'owner and 'occupeir' respectively as defined in the act; (3)' rent' includes rent, license, lease or commission or any other sum paid or payable for user of the building .....

India Habitat Centre Vs. Municipal Corporation of Delhi and ors.

Court : Delhi

Reported in : 1994IVAD(Delhi)247; 1994(31)DRJ163

..... (28) reliance is placed on the order of the income tax authorities dated 28.1.94 (ex p-5) stating that the activities of the petitioner are charitable within the meaning of section 2(15) of the income tax act. ..... children book trust : [1992]2scr535 which reads as under :- 'the ruling arising out of income tax act may not be of great help because in the income tax act 'charitable purpose' includes the relief of the poor, education, medical relief and the advancement of any other object of general public utility. ..... but it was pointed out by the municipal corporation in the impugned order dated 6.6.94 (ex p-17) that the distinction between the definition of charitable purpose in the income tax act and delhi municipal corporation act as held by the supreme court in the case of m.c.d. v. ..... (16) section 199 of the delhi municipal corporation act,1957 was enacted by the parliament and section 119(1) of the said act reiterates that not with standing anything contained in the foregoing provisions of this chapter (chapter viii), lands and buildings being properties of the union shall be exempt from the property taxes specified in section 114. ..... clause 3 (b) of the memorandum of association says that the allottees (sub-lessees) shall also pay to the centre, the maintenance and other charges as may be determined and demanded by the council from time to time. ..... non agricultural lands assessment act, 1963 passed by the state legislature. .....

Kesho Dass Bhutani Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1984)8ITD67(Delhi)

..... the government on 12-11-1968 and since the valuation date for the assessment year under appeal is 31-3-1968, as on that valuation date, the assessee was owning agricultural land and since agricultural land was not an asset within the meaning of the wealth-tax act, 1957 ('the act') the said asset cannot be included as wealth in the hands of the assessee while computing the assessee's net wealth for the purposes of its charge to wealth-tax under the provisions of the ..... the right to receive the market value as compensation for the lands which are acquired comes into existence as soon as the lands are acquired and that right is an asset within the meaning of the charging section of the wealth-tax act, 1957. ..... he reasoned that the contention of the assessee that the land was agricultural has to be rejected because once a notice under sections 4 and 6 of the land acquisition act, 1894 is issued, the property vests in the government and the agricultural land ceases to exist and the assessee is entitled to compensation and the compensation to be fixed is relatable to the date of acquisition. ..... perusal of the income-tax record reveal the following facts: the assessee owned the above lands and the same were acquired by the government vide notification under section 4 and under section 6 of the land acquisition act in march 1966. .....

Commissioner of Income-tax, Delhi-i Vs. Anand Prasad and Others

Court : Delhi

Reported in : [1981]128ITR388(Delhi)

..... the income-tax act was amended several times in the last 37 years, but no amendment of section 31(3) was undertaken to nullify the rulings, to which we have referred. ..... (2) the commissioner may, if he objects to any order passed by an appellate assistant commissioner under section 31, direct the income-tax officer to appeal to the appellate tribunal against such order, and such appeal may be made within sixty days of the date on which the order is communicated to the commissioner by the appellate commissioner.' 9. ..... the assessed contends that the powers of the appellate assistant commissioner extent to matters considered by the income-tax officer, and if a new source is to be considered, then the power of remand should be exercised. ..... it appears that even for the two earlier assessment years, namely, 1956-57 and 1957-58, the same view had been adopted, but the income-tax appellate tribunal had reversed the decision of the ito and of the aac, by its order dated 30th october, 1963. ..... it is contended by the commissioner of income-tax that the word 'assessment' here means the ultimate amount which an assessed must pay, regard being had to the charging section and his total income. ..... the assessed submits that it does not necessarily follow that there is any profit by way of capital gain, and furthermore, it cannot be said from the record that the plots which were sold were not agricultural land, etc. .....

Agricultural Company Rampur Vs. the Commissioner of Income-tax

Court : Delhi

Reported in : ILR1972Delhi344; [1974]93ITR353(Delhi)

..... (5) the assessed being aggrieved, filed appeals before the appellate assistant commissionr wherein he raised several contentions regarding validity of the assessments under section 34 of the income-tax act and the income being from agriculture, it was contended that it was exempt from tax. ..... notice could be issued on 20th march, 1957 for the purpose of making, assessments on a dissolved firm under section 23(3) read with section 34 of the income-tax act, 1922. ..... the tribunal held that as the orders of the high court were made on 25th july, 1957 and the notice was issued on 20th march, 1957, the income-tax officer was justified in issuing the said notice and that the notice was valid because the notice was issued prior to the date of the high court's order ..... section 3 of the act which was a charging section made every individual, hindu undivided family, company and local authority and every firm and other association of persons of the partners of the firm or the members of the association individually as units of assessment ..... (9) sub-section (2) of section 294 lays down that where an order under this section provides for the transfer of any property or liabilities, then by virtue of the order, that property shall be transferred to and vest in and those liabilities shall be transferred to and become the liabilities of the transferee and in the case of any property, if the order so directs, freed from any charge which is by virtue of the compromise or arrangement, to cease to have effect .....