Court : Gujarat
Decided on : Dec-05-1973
Reported in : [1975]100ITR577(Guj)
..... the transaction in question cannot in law amount to partition. the said transaction obviously amounts to gift and, therefore, the provisions of section 10 of the estate duty act would be applicable if the other requirements of the section are satisfied. 17. we, therefore, answer the question which is referred to us in the negative and ..... to the accountable person, therefore, the transaction did not amount to gift and hence there was no scope for attracting the provisions of section 10 of the act. the assistant controller of estate duty rejected this contention of the accountable person with the result that the matter went in appeal before the appellate controller of estate ..... as between his five sons by the end of samvat year 2009 amounted to gift and, therefore, the provisions contained in section 10 of the estate duty act were attracted. the contention raised by the accountable person was that this disbursement did not amount of gift but amounted to partition during the course of which the .....
Tag this Judgment!Court : Gujarat
Decided on : Nov-06-1973
Reported in : [1975]101ITR46(Guj)
..... ., since we find that the petitioner should succeed in his first prayer on the question whether the matter would be governed by sections 17and 29 of the indian limitation act. 13. we thus find that the petitioner succeeds in obtaining the first relief claimed by it. on the second relief, the learned advocate for the parties addressed to ..... not yet expired when he moved the commissioner by preferring revision applications. but it cannot be said that the revision proceeding under section 33a and/or 264 of the acts of 1922 and 1961 were inappropriate because under these sections the commissioner has got wide power to pass such orders as he thinks fit. therefore, it cannot be ..... the very inception and since the said assessments were the result of a mistake of law common to both the parties, provisions of section 72 of the indian contract act apply and, therefore, the tax recovery under the said mistake of law should be refunded back to it. 5. taking the first contention of the petitioner for our .....
Tag this Judgment!Court : Gujarat
Decided on : Nov-14-1973
Reported in : [1975]98ITR237(Guj)
..... of the entries in the seventh schedule. with effect from april 1, 1970, the definition of 'agricultural income' was amended by the taxation laws (amendment) act, being act 42 of 1970, with retrospective effect, that is, from april 1, 1970, so as to provide by virtue of the proviso that agricultural income must not be ..... this group were put in an agricultural zone under the development plan which was formulated by the municipal corporation under the provisions of the bombay town planning act, 1954. on october 28, 1963, the municipal corporation passed another resolution putting the land of the petitioner in residential zone but by the resolution of ..... of the gujarat housing board. the land in question in each of these 24 special civil applications was, prior to the relevant notifications under the land acquisition act being issued, being used for agricultural purposes and in each of these 24 cases, the land is situated within the jurisdiction of the municipal corporation of ahmedabad. .....
Tag this Judgment!Court : Gujarat
Decided on : Apr-06-1973
Reported in : [1974]96ITR185(Guj)
..... registered in the name of the assessee. this view was taken by the division bench because the legislature had used two different expressions in the provisions of the wealth-tax act, namely, 'belonging to' and 'held', and this deliberate use of two different expressions clearly indicated that the legislature intended to use them in different senses and the word 'held' ..... opinion turns on the true interpretation of sub-section (1) of section 21, which reads as follows : '21. (1) in the case of assets chargeable to tax under this act which are held by a court of wards or an administrator-general or an official trustee or any receiver or manager or any other person, by whatever name called, appointed ..... rs. 4,61,000 transferred to the name of mane kshah and his wife not assets held by a trustee with in the meaning of section 21(1) of the act (2) whether the tribunal was right in holding that the securities of the face value of rs. 4,61,000 transferred to the name of the assessee, nadirshah, and .....
Tag this Judgment!Court : Gujarat
Decided on : Aug-30-1973
Reported in : [1974]97ITR173(Guj)
..... year under reference. this plea was rejected by the income-tax officer who held that the speculation profit had to be allocated as per the provisions of the act amongst the partners. the assessee carried the matter in appeal to the appellate assistant commissioner who dismissed the appeal and upheld the order of the income-tax appellate ..... the first instance and then to be carried forward. this provision of section 24 (2) so far as the first clause is concerned corresponds to section 73 of the 1961 act. section 75, sub-section (2), corresponds to the proviso to the clause (c) in section 24 (2) because that clause provided : 'provided that nothing herein contained ..... firm. it was because of this clear connection between the apportionment of losses amongst the partners under the second proviso to section 24 (1) of the 1922 act and the inability or disqualification of a registered firm to have carried forward and set off losses which had thus been apportioned that the decision of the supreme .....
Tag this Judgment!Court : Gujarat
Decided on : Sep-05-1973
Reported in : [1974]95ITR326(Guj)
..... is done by the assessing officer at the first stage. in this connection, though not conclusively, the relevant forms of appellate under the wealth-tax act to the appellate commissioner as well as to the appellate tribunal, are indicating that the legislature did not contemplate two parties before the appellate assistant commissioner ..... does not choose to appeal, the order of assessment becomes final subject to any power of revision that the commissioner may have under section 33b of the act. therefore, it would be wholly erroneous to compare the powers of the appellate assistant commissioner with the powers possessed by a court of appeal under the ..... that claim having been rejected by the wealth-tax officer, the assessees went in appeal before the appellate assistant commissioner under section 23 of the wealth-tax act. the appellate assistant commissioner accepted the claim and allowed the appeal. the wealth-tax officer, therefore, took the matters in further appeal before the tribunal where .....
Tag this Judgment!Court : Gujarat
Decided on : Jun-28-1973
Reported in : [1975]98ITR610(Guj)
..... . the revenue claimed that it was includible as property passing on the death of the father under section 102(2) (d) of the new south wales stamp duties act, 1920-56. this claim of the revenue was upheld by the judicial committee of the privy council. viscount simonds, speaking on behalf of the judicial committee, pointed out ..... of whatsoever kind or in any way whatsoever, and the charge of duty was, therefore, attracted under section 102(2) (d) of the new south wales stamp duties act, 1920. the judicial committee while dealing with this contention took the opportunity of reviewing the earlier cases and in particular attorney-general v. worrall, grey v. attorney-general ..... in clifford john chick v. commissioner of stamp duties, while dealing within a almost identical provisions in section 102(2) (d) of the new south wales stamp duties act, 1920-56, constitution a very difficult part of the second. it would be sufficient to state that according to the view taken by the supreme court in george .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-06-1973
Reported in : [1975]100ITR564(Guj)
..... the revenue, has relied upon certain observations of clauson l. j. in commissioners of inland revenue v. gaunt. there, while interpreting the provisions of section 38 of the finance act, 1938, the court of appeal held : '.......... the difference, if difference there be for this purpose, between the words 'wife' and 'widow' is quite immaterial for the ..... of the assessee. it is clear from the facts stated by the tribunal that it was by the virtue of the provisions of section 42 of the partnership act that the firm was dissolved on the death of ratilal ranchhoddas, the deceased-assessee. there was no clause in the partnership deeds of november 26, 1959, regarding ..... nor any equitable considerations can make any difference to the position which rests entirely on a strict interpretation of the provisions of section 4(1)(a) of the income-tax act.' 9. this decision in e. d. sassoon & co. ltd. v. commissioner of income-tax was followed by the bombay high court in bhogilal laherchand v. commissioner .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-04-1973
Reported in : [1975]101ITR61(Guj)
..... the swiss suppliers. 16. in view of this cessation of liability, we have to ascertain the position for the different assessment years. as pointed out above, under the act of 1922, which was applicable to assessment year 1961-62. it was only if there was any contribution from government or public or local authority, that those contribution ..... for the assessment year 1950-51, the question arose whether the appellant was entitled to depreciation on the factory under section 10(2)(vi) of the indian income-tax act, 1922, on the amount of rs. 34 lakhs, depreciation not having been allowed for any earlier period. the appellate tribunal held that, as regards the 10/16th ..... ltd. v. income-tax officer, porbandar pointed out that neither the principle of res judicata nor estoppel not the terms of section 10(2)(vi) of the act of 1922 prevented the income-tax officer from determining for himself what the actual cost of the machinery had been and that depreciation had to be calculated for every year .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-20-1973
Reported in : [1976]102ITR56(Guj)
..... grandsons to whom the property it directed. ultimately, therefore, the question whether this property is 'settled property' within the meaning of section 2 (19) of the act or not, is dependent upon the construction of the joint will executed by the deceased and his wife. 24. the real question which, therefore, arises to ..... whether the settlement took effect before or after the commencement of this act; and 'settlement' means any disposition, including a dedication or endowment, whereby property is settled.' 23. looking to this definition, the property regarding which the deceased and ..... competent to dispose of the property.' 22. this section speaks about 'settled property' and 'settlement'. both these terms are defined by clause (19) of section 2 of the act as under : '2. (19) 'settled property' means property which stands limited to, or in trust for, any persons, natural or juridical, by way of succession, .....
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