Court : Gujarat
Reported in : (1985)45CTR(Guj)60; [1985]154ITR786(Guj)
..... after considering various aspects of the matter, the board have decided that the requirements of the provisions of sections 33 and 34(3)(a) of the act will be considered to have been satisfied if the accumulated reserve in respect of the said machinery or plant up to the year or years of actual allowance is equal to 75 per cent. ..... act, 1961, and to regulate the assessment as if the circular of 1965 on the point of grant of development rebate has not been superseded and to condone the genuine deficiency subject to the same being made good by the assessee through ..... act, 1961. ..... act, 1961. 10. ..... act, 1961, be dropped. ..... act, 1961, in the matter of development rebate so as to overcome the difficulties experienced by the assessees pursuant to the decision of this court in surat textile mills ltd. v. ..... javeri's case clearly deviated from the provisions of the act, and yet the court held that the circular was binding on the itos. 11. ..... negativing the contention advanced of behalf of the revenue that the instructions issued by the board of revenue could not have any binding effect and such instructions could not abrogate or modify the provisions of the act, the court referred to the earlier decision in navnit lal c. ..... 5(b) of the 1922 act was again considered. ..... act, 1957, even if the circulars deviate from the legal position. 12. ..... act, the ito may condone genuine deficiency subject to the same being made good by the assessee by creating adequate additional reserve in the succeeding assessment year. .....
Tag this Judgment!Court : Gujarat
Reported in : [1966]61ITR226(Guj)
..... the working of the petitioner-company made the aforesaid report and(ii) the order of the appellate assistant commissioner dated april 22, 1964, in the appeal against the assessment order for the assessment year 1961-62, which established that a part of the income of the petitioner-company was assessable under section 10 and another part was assessable under section 12 and that all the expenses incurred by the ..... this is a petition for quashing and setting aside a notice under section 148 read with section 147(b) of the income-tax act, 1961, dated july 18, 1964, in respect of the assessment year 1960-61, and for restraining the respondent-income-tax officer from taking ..... the first two assessment years 1959-60 and 1960-61 seem to have proceeded on the footing that the entire receipts excluding the exempted receipts were receipts from business and fell under section 10 of the act of 1922, that the membership subscriptions and laga receipts were exempted items of income on the ground of mutuality and the entire expenses incurred in respect of the receipts, including the expenses incurred in ..... collected from members formed part of the rent collected from the members and therefore treated both these items as falling under the head 'other sources' under section 56 of the act of 1961. ..... error of law in allowing all the expenses including the expenses incurred in the case of the exempted items of income and that such an error could be validly corrected under section 147(b) of the 1961 act. .....
Tag this Judgment!Court : Gujarat
Reported in : (1984)38CTR(Guj)148; [1985]151ITR75(Guj)
..... whether the tribunal was right in holding that the air-conditioner and the electric fans are plant or machinery within the meaning of section 32 and section 33 of the income-tax act, 1961, and they are, therefore, entitled to depreciation and development rebate, irrespective of the fact as to whether they are installed in the office premises ?' 5. ..... act, 1961, the office appliances or road transport vehicles have been excluded from the 'machinery' or 'plant' on which an assessee is entitled to claim development rebate. ..... act, 1961. 7. ..... act, 1961. ..... 37(1) of the 1961 act which are allowable as business expenditure. 6. ..... 32 and 33 of the 1961 act. ..... 10(5) of the 1922 act, since the legislature has included articles like books and surgical instruments within the definition of the term 'plant'. 9. ..... 33 of the act. 11. ..... 1,03,437 made to the textile commissioner under the provisions of clause 21c(1)(b) of the cotton textile (control) order, 1948, was business expenditure allowable under section 28 or under section 37 of the act 2. .....
Tag this Judgment!Court : Gujarat
Reported in : [1992]198ITR69(Guj)
..... on being directed by this court, under section 256(2) of the income-tax act, 1961, the income-tax appellate tribunal has made these references to us and has referred the following questions of law for ..... the balance-sheet had to be filed along with the return by virtue of the provisions of rule 19 framed under the indian income-tax act, 1922 (equivalent to rule 12 to the present rules), and that makes the balance-sheet to filed part of the return itself ..... . : [1971]79itr609(sc) in connection with section 34(1) (a) of the indian income-tax act, 1922, a provision which was substantially in pair material with section 147(a) of the 1961 act, the supreme court has observed as under (at page 612) : 'we are of the view that under section 34(1) (a) if the assessee has disclosed primary facts relevant to the assessment, he is under no obligation to instruct ..... the case, it can be said that the assessee had disclosed fully and truly all the material necessary for assessment and, therefore, the reassessment under section 147(a) of the income-tax act, 1961, was not justified 2. ..... facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the reopening of assessment under section 147(a) of the income-tax act, 1961, was not justified 2. ..... cal) , the division bench of the calcutta high court was called upon to decide the question as to whether issuance of a notice by the income-tax officer under section 148 of the income-tax act, 1961, was justified .....
Tag this Judgment!Court : Gujarat
Reported in : [1981]127ITR49(Guj)
..... and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that the living allowance payable to the assessee in india is a perquisite taxable as per the provisions of the income-tax act, 1961 (3) if the answer to the aforesaid question is in the affirmative, whether the said amount of living allowance is exempt under section 10((14) or clause (v) of section 16 of the i.t. ..... nowhere in the income-tax act, 1961, is there a right given to the non-applicant to ask for a reference of questions of law on the application made by the applicant. ..... act, 1961. ..... act, 1961, for our decision a question of law arising out of its order dated february 16, 1977. ..... regarding non-payability of tax on living allowance went the tribunal took the view that the living allowance paid to the assessee during the relevant year constituted a 'perquisite' within the meaning of section 17(2) of the act and consequently was includible in his total income. ..... but his contention was that the said remuneration was not taxable as according to the assessee, the provisions of section 5(1)(c) of the act were not applicable to the said remuneration. ..... act ?' 5. ..... 10(14) of the act. .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]115ITR550(Guj)
..... act, 1961, depreciation can be claimed, (i) in respect of buildings, machinery, plant or furniture, (ii) owned by the assessee and used for the purposes of his business or profession, (iii) subject, however, to the provisions of s. 34. ..... act, 1961 ?' 3. ..... 32 of the act. .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]108ITR14(Guj)
..... on behalf of the assessee it was submitted that the claim before the income-tax officer as well as before the appellate assistant commissioner was one under section 31 of the income-tax act, 1961, on the basis of the expenses made for current repairs of the machinery. ..... of income-tax : [1956]30itr338(bom) , it is clear that deduction which the legislature has permitted under section 10(2)(v) (which is corresponding to section 31 of the 1961 act), is a deduction where the expenditure is revenue expenditure and not capital expenditure. ..... these various orders of taxing authorities and the tribunal this court feels that the claim was on account of current repairs, the real question should be considered as if it was one under section 31 of the income-tax act, 1961. ..... cost of the replacement is only cost of repairs to machinery and hence allowable under section 31 of the income-tax act, 1961...' 3. ..... behalf of the revenue it was urged that the tribunal has framed this question as if the expenses claimed were under section 37(1) of the income-tax act, 1961. ..... the case, the tribunal was right in holding that the expenditure incurred for replacing the petrol engine by a diesel engine in the assessee's truck was allowable as admissible expenditure under section 37(i) of the income-tax act, 1961 ?' 2. ..... cost of replacement, according to the appellate assistant commissioner, was only a cost of repairs to the machinery and hence the claim was allowed under section 31 of the income-tax act, 1961. .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]110ITR411(Guj)
..... omission was noticed by him, he issued notice under section 154 of income-tax act, 1961, and called upon the assessee to file objections, if any, to the proposed ..... the notice to file return under section 139(2) of the income-tax act, 1961, was issued on june 26,1967, and served on the assessee on ..... completed the assessment on 26th may, 1967, under section 143(3) of the income-tax act, 1961, and determined the total income at rs. ..... which we are concerned under section 280c(2) the discretion invested in the income-tax officer is made subject to the conditions and the circumstances specified in section 280w of the income-tax act, 1961. ..... 102itr584(guj) , where this very division bench was concerned with the case of late payment of annuity deposit as required under section 280c(2) of the income-tax act, 1961. ..... 1965]57itr149(sc) , cancelled the said order of the income-tax officer under section 154 of the income-tax act, 1961. 4. ..... however, later on, the income-tax officer by his order of june 17, 1969, purporting to act under section 154 corrected that order since the conditions precedent for condoning delay in making payment of the annuity deposit were not satisfied, with the result that the allowance made ..... opinion : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding that the income-tax officer had no jurisdiction under the provisions of section 154 of the act for charging interest under section 139 for late submission of the return ?' 2. .....
Tag this Judgment!Court : Gujarat
Reported in : [1979]120ITR190(Guj)
..... section 27(ii) of the income-tax act, 1961, which has taken the place of section 9(4) of the act does not begin by saying 'for the purpose of ..... section 27(ii) of the income-tax act, 1961, makes explicit what was implicit in the provision as it ..... act, 1961, unless the case falls within the terms of ..... act, 1961, provides the mode of determination of annual value of a property which is broadly deemed to be the sum of which the property might reasonably be expected to let from year to year; or where the property is let and the ..... act, 1961, we are of the opinion that both these provisions operate in different fields and unless we can read either in s. 64 or ..... act, 1961 ..... act, 1961 ..... act, 1961, with a view to rectify the assessment for inclusion of a sum ..... 27(ii) of the 1961 act, the holder of an impartible estate is deemed to be an individual owner of all the properties comprised in the estate irrespective of ..... it was in that context of the provisions of the 1922 act, as were in force, that the supreme court was called upon to answer the question set ..... the 1961 act and s ..... the 1961 act. ..... 16(3)(a)(iii) of the 1922 act was in pari materia to the one contained ..... section 9(4) of the 1922 act, as it stood at the relevant time of assessment years 1957-58 to 1960-61, was in terms similar ..... 9(2) of the 1922 act provided for the maximum amount of such income and it would, therefore, follow that the sum that could be included in the total income of the assessee in respect of the property in question must be the same .....
Tag this Judgment!Court : Gujarat
Reported in : [1979]116ITR81(Guj)
..... each partner gets that which was his own in which he along with the other partners was a joint owner during the subsistence of the partnership and under the scheme of the partnership act when the assets are distributed among the partners at the time of dissolution, it cannot be said to amount to utilisation of the machinery in the sense in which the word 'utilised' has been used in s. ..... 155(5) of the act of 1961 whether there was a transfer of the machinery in respect of which the development rebate had been allowed and, secondly, whether on the dissolution of the partnership the assessee, that is, the original partnership firm, had failed to ..... act, 1961, because surplus assets of the partnership are distributed amongst the partners on the dissolution of the firm. ..... act, 1961 ?' 6. ..... act, 1961. ..... act, 1961 ?' 3. ..... act, 1961, or s. ..... 35(11)(ii)(c) of the act of 1922'. ..... act, 1922, can be adopted, whereas the assessee in each of these cases contends that it cannot be withdrawn in this manner. 2. .....
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