Court : Gujarat
Reported in : [1983]143ITR517(Guj)
..... act, 1961. ..... act, 1961. ..... act, 1961, to the surat firm proposing reassessment for the years 1959-60 and 1960-61 on the ground that the bangalore firm was a branch of the surat firm, the proceedings arising out of the said notice ultimately ..... act, 1961. 5. ..... similarly, for the assessment years 1960-61 and 1961-62, the assessment of the surat firm was made on the basis that the bangalore firm was not a branch of the surat firm. ..... the tribunal at ahmedabad acted on the basis of the facts found by the tribunal at bangalore which have been reproduced in its order without directing the authorities below to lay the foundation in view of the fact that the decision of the madras ..... act, 1922. .....
Tag this Judgment!Court : Gujarat
Reported in : [1980]123ITR669(Guj)
..... the aac was of the opinion that in the absence of there being any specific provision in the act that the new unit should be altogether distinct and even physically at a distance from the old unit, and that, if the relief as admissible for assessment year 1968-69, in respect of the expended unit of the assessee ..... act, 1961. 11. ..... act, 1961. ..... act, 1961, for the subsequent year, i.e. ..... act, 1961. ..... act, 1961, with reference to the capital employed in the expansion of the plant and machinery. ..... section 80j for the year under reference, when such claim had been accepted in the earlier assessment year, which assessment had not been disturbed (2) whether the relief under section 80g of the act is available in respect of donations made in kind ?' 5. ..... 15c of the 1922 act, an industrial unit claiming such relief must be new, in the sense, that new plants and machineries are erected for producing either the same commodities or some distinct commodities (vide textile machinery corporation ltd. v ..... at the instance of the assessee-company, the following two questions have been referred to us : '(1) whether, on the facts, the tribunal was justified in applying section 40(a)(v) of the income-tax act in respect of the expenditure of rs. ..... 80g of the act and, therefore, the question is to be answered in the affirmative and in favour of the assessee and against the revenue by saying that having regard to the facts and circumstances of this case the assessee-company is entitled to the ..... 80g of the act. ..... 80g of the act. .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]105ITR378(Guj)
..... relevant provision which governs this question of municipal tax deduction is the proviso to section 23 of the income-tax act, 1961, whose crucial expression is 'provided that where the property is in the occupation of a tenant' ..... tax officer, rejected the contention of the revenue that the cost of acquisition on the basis of substituted value as on january 1, 1954, under the provisions of section 55(2) of the act has to be calculated by averaging the value of original shares and bonus shares taken together, even though the bonus shares were issued after january 1, 1954 ..... order to appreciate the rival contentions it is necessary to set out in verbatim the provisions of sections 22 and 23 of the income-tax act, 1961, since they relate to income from house property ..... would also like to emphasise that both vacancy remission and deduction of municipal taxes cannot be claimed at the same time by reasons of the language in the proviso to section 23 of the income-tax act, 1961, as quoted above ..... property, 3, gun foundry road, was not in the occupation of a tenant within the meaning of those words in the proviso to section 23 if the income-tax act, 1961 ..... per share should be substituted as cost under section 55(2) of the income-tax act, 1961 ..... . under the 1961 act the provision in respect of tenant-occupied property is as set out in sub-section (1) of section 23 and in respect of self-occupied property, under sub-section (2) of section 23, the annual value was to be determined as in sub-section (1) and further be .....
Tag this Judgment!Court : Gujarat
Reported in : [1974]93ITR288(Guj)
..... so declared or any amount of tax so paid, to reopen any assessment or reassessment made under the indian income-tax act, 1922 (xi of 1922), or the income-tax act, 1961 (xliii of 1961), or the excess profits tax act, 1940 (xv of 1940), or the business profits tax act, 1947 (xxi of 1947), or the super profits tax act, 1963 (xiv of 1963), or the companies (profits) surtax act, 1964 (vii of 1964), or claim any set-off or relief in any appeal, reference, revision or other proceeding in relation ..... in accordance with sub-section (2) in respect of the amount representing income - (a) which he has failed to disclose in a return of income for any assessment year filed by him before the march 1, 1965, under the indian income-tax act, 1922 (xi of 1922), or the income-tax act, 1961 (xliii of 1961), or (b) which has escaped assessment for any assessment year for which an assessment has been made before the march 1, 1965, under either of the said ..... the tribunal took the view that the liability to pay income-tax on the concealed income arose by reason of the charging provision contained in section 3 of the indian income-tax act, 1922, or section 4 of the income-tax act, 1961, and the latest date on which it must be said to have arisen was the last day of the relevant accounting year in which the concealed income was earned. .....
Tag this Judgment!Court : Gujarat
Reported in : [1980]124ITR421(Guj)
..... act, 1961 (hereinafter referred to as 'the act'), were served on june 1, 1974 while it was served on the occupier of the said shops (a branch of dena bank ..... in most of the indian statutes, including the act now under consideration, there is provision for the rules made ..... the government gazette as required to be published within nine months of the last day of the month in which the instrument of transfer in respect of the property in question was registered under the registration act, 1908, as provided under the proviso to s. ..... 8 of the foreign exchange regulation act, 1947, issued on august 25, 1948, a notification to the effect that gold or gold articles, among others, should not be brought into india or sent to india except with the general or special permission ..... in respect of any immovable property after the expiration of a period of nine months from the end of the month in which the instrument of transfer in respect of such property is registered under the registration act, 1908 (16 of 1908) :....' 8. ..... 269e of the act for the purpose of filing objections by the interested and/or affected persons, the condition precedent for initiation of acquisition proceedings was not satisfied, for the obvious reason ..... act was not published in the government gazette within time and also because the locality notice was admittedly published beyond the period or limitation of 45 days of the public notice during which the transferee are entitled to file their objections under section 269e of the act .....
Tag this Judgment!Court : Gujarat
Reported in : [1971]80ITR1(Guj)
..... 1, 1964, the income-tax officer gave a show cause notice to the assessee under section 154 of the income-tax act, 1961, corresponding to section 35 of the old act, calling upon the company to show cause why the mistake in the assessment order regarding the allowance of the development rebate ..... mazdoor kisan sahkari samiti again a similar question arose before the rajasthan high court, and the rajasthan high court also held that under the proviso to section 10(2)(vib) of the indian income-tax act, 1992 an assessee shall be permitted allowance in respect of development rebate only if he makes the debit and credit entries as mentioned therein, but as no time limit is places for makings such entries in ..... ground that the entries were not made before the close of the accounting year; and on these facts the andhra pradesh high court held that there was no provision in the act under which the reserve fund account should be credited with the amount of development rebate before the close of the accounting year and that, as the assessee made the necessary entries ..... this reference under section 256(1) of the income-tax act, 1961, made at the instance of the assessee, arises under the following circumstances : the relevant year of account is calendar year 1959 and ..... rectification set out in section 154 of the income-tax act, 1961 are clearly attracted to this case. ..... the order of rectification should be passed under section 154 of the income-tax act, 1961, or under section 35 of the old act 3. .....
Tag this Judgment!Court : Gujarat
Reported in : [1972]85ITR315(Guj)
..... section 271, sub-section (1), clause (c), provides - and here we are setting out the section as it stood during the assessment year 1961-62 prior to its amendment by the finance act, 1968 - that if the income-tax officer, in the course of any proceedings under the act, is satisfied that any person has concealed the particular on his income or furnished inaccurate particulars of such income, he may direct that such person shall pay by way of penalty, in addition to any ..... officer directed that a notice be issued under section 274(1) calling upon the assessee to show cause why penalty should not be imposed on the assessee for concealment of income under section 271(1)(c) of the income-tax act, 1961. ..... this reference arises out of an order of penalty made against the assessee in respect of an assessment to income-tax for the assessment year 1961-62. .....
Tag this Judgment!Court : Gujarat
Reported in : [1987]163ITR381(Guj)
..... it will be open to the tribunal to dispose of the appeal pending before it under section 260(1) of the income-tax act, 1961, in the light of the observations made by us after determining the question which ought to be decided in the light of the circular of the board dated may 31, 1977. ..... on a bank holiday; or (iv) the seller is refusing to accept payment by way of crossed cheque/draft and the purchaser's business interest would suffer due to non-availability of goods otherwise than from this particular seller; or (v) the seller, acting as a commission agent, is required to pay cash in turn to persons from whom he has purchased the goods; or (vi) specific discount is given by the seller for payment to be made by way of cash.' 7. ..... the circular is directed to all commissioners of income-tax and is headed 'section 40a(3) of the income-tax act, 1961 - rule 6dd(j) of the income-tax rules, 1962 - clarification regarding'. ..... to us; to call for a supplementary statement of the case from the tribunal; or to decline to answer the question raised by the tribunal and to leave it to the tribunal to take appropriate steps to adjust its decision under section 66(5) (of the old act) in the light of the answer of this court. .....
Tag this Judgment!Court : Gujarat
Reported in : [1972]86ITR309(Guj)
..... court and on the application of the assessee, the tribunal referred the following question, namely : 'whether, on the facts and in the circumstances of the case, proceedings for reassessment under section 147(a) of the income-tax act, 1961, were validly initiated ? ..... at the time of the original assessment and the income-tax officer, therefore, issued notice to the assessee seeking to reopen the assessment for the assessment year 1957-58 under section 147(a) of the income-tax act, 1961. ..... this reference raises a short question as to whether certain proceedings initiated by the revenue for reassessment of the assessment are valid under section 147(a) of the income-tax act, 1961. ..... now capital gains were made chargeable to tax with effect from 1st april, 1956, by introduction of section 12b in the indian income-tax act, 1922. .....
Tag this Judgment!Court : Gujarat
Reported in : (1980)15CTR(Guj)32; [1980]124ITR862(Guj)
..... act, 1961 is, as we have held in vimlaben's case : [1979]118itr134(guj) quasi-judicial and the competent authority has to act fairly at all stages and if a request is made in that connection for summoning witnesses or for leading any evidence or for cross-examining any witnesses, the competent authority cannot reject that application or prayer on the ground ..... act, 1961, the initial exercise which the competent authority has to do on forming the opinion is to estimate the fair market value of the property in question. 16. ..... act, 1961, which are penal in nature as held by this court in cit v. ..... act, 1961. ..... act, 1961, for publication in the official gazette and for service on the parties concerned as well as for publication thereof as required under s. ..... the tribunal ought to have appreciated that the competent authority acted according to the opinion and advice then prevalent and, therefore, ought to have given an opportunity to the competent authority to record evidence as prayed for by the parties, or as may be necessary in the circumstances of the case. ..... 4 of the land acquisition act. ..... xx-a of the act. .....
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