Court : Chennai
..... accounts were maintained by the trust and the trust is also not registered under section 12a of the income tax act and non -production of any sale bills of agricultural produce and on personal visit, rightly found that the agricultural income from the trust lands would not be more than rs.1 lakh, after meeting the expenses of cultivation ..... notings on them showing contract payment, percentage of premium reduced thereon, etc. the contention of the assessee was that the said amount was out of his agricultural income and loans received from brothers and close relatives. 10. in the statement filed along with the return, the assessee furnished the following details of sources in ..... with whom the assessee entered into an agreement of sale of shop in cumbum. the tribunal also held that rs.12 lakhs is the accumulations of agricultural income derived from own lands and trust lands and from loan amounts received from other parties. further, the tribunal held that there was no corroboratory material in .....
Tag this Judgment!Court : Chennai
..... that the rationale behind section 31(i), ibid, is only to exempt security interest in the agricultural land and hence, the said provision cannot be ..... not make it an agricultural one. in support of the said contention, the learned counsel relies on the judgment of the supreme court in sarifabibi mohmed ibrahim (smt.) and others vs. commissioner of income tax, gujarat [1993 supp (4) scc 707]. 4.referring to and relying on clause 2(m) of the statement of objects and reasons of the sarfaesi act, he would submit .....
Tag this Judgment!Court : Chennai
..... of mineral rights, he excavates the land, carries out mining operations and takes away the minerals so mined. 22. the decision of the supreme court in board of agricultural income tax act, has also to be understood in the context of the facts out of which the case arose. as seen from paragraph 12 of the said decision, the supreme ..... ) raja shiva prasad singh v. king emperor [air 1924 patna 679] (2) board of agricultural income-tax v. sindhurani [air 1957 sc 729] (3) cit v. panbari tea co. ltd. [(1965) 57 itr 422 (sc)] (4) r.k.palshikar v. cit [(1988) 172 itr 311 (sc)] (5) a.r.krishnamurthy v. cit [(1989) 176 itr 417 (sc)] (6) bharat steel tubes ltd. v ..... "apparent consideration" appearing in clause (b) of section 269-ua in chapter xx-c of the income tax act, 1961, which were inserted by finance act, 1986, but which have since been repealed. in clause (b) of section 269-ua, the act made a distinction between cases where the consideration for the transfer of immovable property by way of lease .....
Tag this Judgment!Court : Chennai
..... salami is not rent and it could not be called revenue within the meaning of the word used in the definition of agricultural income under section 2(1)(a) of the assam agricultural income tax act, 1939. 23. in commissioner of income tax v. panbari tea co. ltd. [57 itr 422 (sc)], the supreme court was concerned with the question as to ..... learned senior counsel for the appellant/ assessee also submitted that this distinction was incorporated into chapter xx-c of the income tax act under section 269-ua and that therefore, the income tax law also recognised the distinction between the two. 22. relying upon the decision of the patna high court in raja shiva prasad singh v. king ..... order of remand passed by the tribunal and contending that the lease deed always formed part of the records of the assessing officer as well as commissioner of income tax (appeals), the assessee has come up with the above appeals. 4. before proceeding further, we must bring on record one important fact. if factually what .....
Tag this Judgment!Court : Chennai
..... tribunal chennai 'b' bench, dated 31.8.2006 in ita no.468/mds/99.) m. jaichandren, j. 1. this tax case appeal has been filed, under section 260a of the income tax act, 1961, challenging the order of the income tax appellate tribunal, bench 'b', chennai, dated 31.8.2006, made in i.t.a.no.468/mds/99, relating to the assessment year 1993-94 ..... in disallowing the claim of deduction, under section 80p(2)(a)(iii) of the act, in the computation of taxable total income. 5. it has also been submitted that the tribunal had failed to appreciate that the claim of deduction on the income derived from the marketing of the agricultural produce of its members of the appellant was not the subject matter of disallowance .....
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..... annas tickets. the question whether a person entrusted by a statute with the duty of collecting a tax as a part of his business can be said to receive it as his business income, arose under the madras general sales tax act in velayudhan vs. agricultural income tax and sales tax officer, perumbavoor, 1953 4 stc 338 (air 1953 trav-co 618). subramania iyer j while considering the ..... question whether a tax realised by a dealer from his customer could be included in the dealer's turn .....
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..... demise. still the lands could fetch income, if there is any agricultural activity. 8. insofar as milk vending business is concerned, the claimants have not produced any document to prove that the deceased had a dairy farm and earned a considerable sum. if the deceased had earned rs.50,000/- per month, then he should have paid income-tax. he should have maintained a ..... documents, marked by the claimants, on cumulative assessment of oral and documentary evidence, the tribunal has to determine the annual income, by taking into account the ground realities, the practice prevalent in villages, regarding milk vending business, and the income earned from agricultural sources. 10. the mere fact that the claimants have produced the documents, exs.p5 and p6 sale deed and ..... (prayer: civil miscellaneous appeals filed under section 173 of the m.v. act, 1988, against the judgment and decree, passed in m.c.o.p.no.21 of 2009, dated 31.10.2013, on the file of the learned motor accident claims tribunal ( .....
Tag this Judgment!Court : Chennai
..... we get back to the provisions of the income tax act, 1961, we would find that section 194a deals with the following types of co- operative institutions: (a) co-operative society; (b) co-operative bank; (c) co-operative society engaged in carrying on the business of banking; (d) primary agricultural credit society; (e) primary credit society; ( ..... banking (including a co-operative land mortgage bank or a co-operative land development bank), and (b) section 194h of the income-tax act, to provide that the deduction of income tax at source from income by way of commission or brokerage will not be required to be made on or after 1st june, 1992." 49. after about ..... . 1. all these appeals are by the branch offices of one assessee, namely, the coimbatore district central co-operative bank limited, filed under section 260a of the income tax act, 1961. 2. the assessee has come up with the above appeals, raising the following substantial question of law: "whether a co-operative society, carrying on .....
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..... years. the deceased was aged 45 years and doing business. admittedly, he was also owning agricultural lands. even though agricultural income was not shown in the income tax return, it emerges from the evidence that the deceased was also doing agricultural work. 11. on behalf of the claimants, reliance was placed upon rajesh's case (supra ..... suffered on account of the wrong. compensation is therefore required to be paid for prospective pecuniary loss i.e. future loss of income/dependency suffered on account of the wrongful act. 12. however, no amount of compensation can restore the lost limb or the experience of pain and suffering due to loss ..... p.mitra) chief labour commissioner (c). employment of sweeping and cleaning excluding activities prohibited under the employment of manual scavengers and construction of dry latrines (prohibition) act, 1993 in exercise of the powers conferred by central government vide notification no. s.0.1994(e) dated 7th aug., 2008 of the ministry of labour .....
Tag this Judgment!Court : Chennai
..... trust is registered as ?.public charitable trust?. under section 12aa of the income tax act 1961. 2) photocopy of letter dated 6.03.2006 issued by the commissioner of income tax-i, trichy informing xmayam trust?. that exemption was granted in respect of donations to the trust under section 80g (5) of the income tax act, 1961. the above documents are sought to be filed to prove that ..... trustees of the first petitioner. the trust started educational institutions in the name of ?.imyam college of engineering?., ?.imayam college of information and technology?., ?.imayam polytechnic college?., ?.imayam institute of agriculture and technology?., ?. imayam arts and science college for women?., ?.imayam and idhayam college of education (b.ed.)?., ?.imayam teacher training institute?. and ?.imayam catering college?.. all these educational institutions are .....
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