Court : Gujarat
Decided on : Sep-10-1973
Reported in : [1975]99ITR514(Guj)
..... the correct income for purposes of determining the question of the penalty on the ground of income having been concealed as provided in the explanation to section 271(1)(c) of the 1961 act. 2. the expenses were, as found by the tribunal, in the nature of payment of premium for obtaining possession of the premises vacated by m ..... total income assessed for the purpose of determination of the question of penalty and, therefore, the assessee-firm was not within the mischief of the explanation to section 271(1)(c) of the act of 1961 and, therefore, cannot be said to have concealed the income. in that view of the matter, the tribunal set aside the order of ..... pari bechardas ambaidas should be excluded for the purpose of finding out the difference between the assessed income and the returned income under the explanation to section 271(1)(c) of the income-tax act 1961 ?' 2. in order to appreciate the question in the proper perspective, a few facts need be stated : the assessee is a private limited .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-04-1973
Reported in : [1975]101ITR61(Guj)
..... 1962-63 to 1964-65. the actual cost would be reduced by rs. 30,572. that is the only conclusion one can come to in the light of section 43, sub-section (1), of the act of 1961. 18. the question before us is not a question of limitation, that is of the liability being time barred or not, the question is of ..... division bench of the bombay high court, has observed : 'in our opinion, therefore, the meaning of the expression 'actual cost to the assessee' as used in sub-section (5) of section 10 of the act would be what the assessee has, in fact, expended or laid out for the purpose of acquiring the depreciable assets.' 10. it was also observed by the division ..... contribution from any other person or authority must be taken out from the actual cost in order to ascertain what the actual cost to the assessee is. under section 43, sub-section (6) of the act, of 1961, 'written down value' means, (a) in the case of assets acquired in th previous year, the actual cost to the assessee; and (b) in the .....
Tag this Judgment!Court : Gujarat
Decided on : Jul-05-1973
Reported in : (1974)0GLR513; [1973]32STC527(Guj)
..... by the purchaser within the prescribed period.' 3. the turnover is thus the aggregate of the amounts of the sale price. the expression 'sale price' is defined in section 2(29) of the act and the same is as follows : '2. (29) 'sale price' means the amounts of valuable consideration paid or payable to a dealer for any sale made ..... year 2024 ?' 2. now, the sales tax that is charged in this state is recovered on the basis of the turnover of sales of a dealer. section 2(36) of the act defines the expression 'turnover of sales' and the said definition is as follows : '2. (36) 'turnover of sales' means the aggregate of the amounts of sale ..... has referred the following question to us : 'whether, on the facts and in the circumstances of the case, on correct interpretation of clause (29) of section 2 of the bombay sales tax act, 1959, postage, trunk-call charges and bank charges included in sale bills should not be added to the turnover of sales of the opponent effected during samvat .....
Tag this Judgment!Court : Gujarat
Decided on : May-02-1973
Reported in : (1974)15GLR107
..... on her account in respect of the suit premises. if that is the position, it can be said that since bai hari wanted to avail of the protection of the act under section 5(1 l)(c) on the death of her husband, she came under an obligation to pay rent, and therefore, in her turn became a tenant falling within the ..... he pays or is ready and willing to pay the amount of standard rent and permitted increases if any and observes and performs other conditions of the tenancy (vide section 12 of the act). therefore, if he claims the status of a statutory tenant and becomes one, the obligation to pay rent arises.11. there is a fundamental difference between the; ..... division bench stated that it was difficult to agree with that reasoning. in that connection, it further observed:a plain reading of the provisions of clause (c) of section 5(11) of the act indicates that the words 'residing with him' control the expression 'any member of the family and the said words do not refer to the nature of the premises .....
Tag this Judgment!Court : Gujarat
Decided on : Sep-17-1973
Reported in : [1974]96ITR240(Guj)
..... for purposes of scientific research to be carried out by the principal parent-company, ciba, basle, was admissible as deduction under sections 10(2)(xv) of the indian income-tax act, 1922. the parent-company, ciba basle ltd., was engaged in the development, manufacture and sale of medicinal and pharmaceutical preparations ..... and it carried on business in india of selling its products through a subsidiary company called ciba (india) ltd. after the incorporation of the assessee-company, the activities of the parent-company in india were bifurcated and the pharmaceutical section ..... sales. the payment was made wholly and exclusively for purposes of business of the assessee and was not of a capital nature and was allowable under section 10 (2)(xv).' 9. in security printers of india (p.) ltd. v. commissioner of income-tax, the court was concerned with a .....
Tag this Judgment!Court : Gujarat
Decided on : Nov-28-1973
Reported in : [1974]97ITR140(Guj)
..... already noted above, the deduction with which we are concerned in this case is the deduction under chapter vii. 13. the provisions contained in the above referred relevant section of the act show how a 'total income' of an assessee is expected to be computed. in this computation if the dividend income is to be included under the income ..... -tax officer was proper. it was contended on behalf of the revenue that since interest on security was required to be computed under the provisions of section 8 of the act of 1922, the income in respect of which exemption could be granted would be the income which would emerge as computed income after the process of ..... a self-contained one giving total exemption from income-tax and, therefore, there was no scope for construing the provisions of the notification with reference to section 8 of the income-tax act. the bombay high court while deciding the case of industrial investment trust co. ltd., relied upon this decision of the supreme court and held that .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-03-1973
Reported in : [1975]101ITR153(Guj)
..... an admissible deduction under section 57(iii) of the act. we, thus, answer the question in favour of the revenue. this reference is accordingly disposed of. the applicant shall bear the costs of the commissioner ..... at the relevant time it was obligatory upon the assessee to make annuity deposit and that the earning of interest through such deposits was merely incidental. section 280c of the act makes this position quite clear. 19. to conclude, therefore, our answer to the question referred to us is that the expenditure in question was not ..... 5,00,055. interest paid on this amount during the accounting period was rs. 26,986 should be allowed as permissible deduction under clause (iii) of section 57 of the act which says that while computing the chargeable income under the head 'income from other sources' any expenditure, not being in the nature of capital expenditure, laid .....
Tag this Judgment!Court : Gujarat
Decided on : Mar-13-1973
Reported in : [1977]107ITR637(Guj)
..... to answer the question referred to us; and we may leave it to the tribunal to take appropriate steps to adjust its decision under the relevant section of the income-tax act. if we direct the tribunal to submit a supplementary statement of the case, the tribunal would be restricted to the evidence on record and may not ..... and in paragraph 5 of its order, the tribunal has observe : 'the only provision under which the assessee could claim some deduction is under section 32(1)(iii) of the act which allows something known as obsolescence allowance. but this also the assessee cannot claim this year because all the furniture that was purchased by him was ..... repairs it must necessarily amount to reconstruction. on the facts of that particular case, the madras high court held that the expenditure was allowable under section 10(2)(v) of the act. 24. we have referred to these different decisions for the purpose of pointing out as to under what circumstances different courts have allowed deduction for .....
Tag this Judgment!Court : Gujarat
Decided on : Sep-03-1973
Reported in : (1974)ILLJ1Guj
..... of days on which a person is absent on account of injury received during the course of employment and to include in explanation 1(c) of section 79 of the factories act all days of earned leave enjoyed in the previous year.that appears to us to be more logical than including the leave earned in the previous ..... operation and should not be reagitated unless a change of circumstances has occurred justifying fresh adjudication. speaking for the court venkatarama ayyar, j. enunciated the principle that though section 11 of the code of civil procedure enacting the rules of res judicata is in terms inapplicable to the question under consideration, the principle underlying it, expressed in ..... we are so inclined. shri shukla has submitted that the factories act was passed in 1948 and many of the conditions laid therein have become entirely out dated. he has pointed out that under the explanation to section 79 in the case of female worker if she is on maternity leave for a period not exceeding 12 weeks .....
Tag this Judgment!Court : Gujarat
Decided on : Apr-06-1973
Reported in : AIR1974Guj168; (1974)0GLR272
..... in order to appreciate the rival contentions in their proper perspective it will be necessary to refer to the definitions of 'landlord' and 'tenant' as given in the act. section 5(3) states that'landlord means any person who is for the time being, receiving, or entitled to receive, rent in respect of any premises whether on his own ..... ; and further includes in respect of his sub-tenant a tenant who has sub-let any premises:9. similarly, tenant has been defined in sub-section (11) of section 5 of the rent act. it says that 'tenant' means any person by whom or on whose account rent is payable for any premises and includes'(a) such sub-tenants ..... was a statutory tenant who had no transferable interest in the lease and, therefore, the defendants were not protected from eviction by the proviso to sub-section (1) to section 15 of the rent act. the plaintiff, therefore, prayed for a decree for eviction against the defendants on the ground of bona he and reasonable requirement, non-payment of arrears .....
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