Court : Kerala
Reported in : [1974]97ITR372(Ker)
..... want me to pursue the enquiry further. '3. the petitioner replied (vide exhibit p-4, dated august 19, 1964) that the loans are raised through recognised finance brokers in bombay, who arrange for the necessary funds by means of the hundies; that its dealings were only with the brokers whose names had already been furnished and ..... commissioner of income-tax v. dinesh chandra h. shah, [1971] 82 i.t.r. 367 (s.c.).. in madhya pradesh industries ltd. v. income-tax officer, [1970] 77 i.t.r. 268 (s.c.)., the supreme court surveyed the decisions commencing from the calcutta discount company's case, referred to narayanappa's case and kantamani venkata ..... larger time-limit provided under section 149 would not be available, and that, therefore, the proceedings arebarred. it remains to notice the contention that section 151 of the act has notbeen properly complied with. the section has been quoted earlier. thepetitioner's argument was based on the decisions of the supreme court inchhugamal rajpal v. s. p .....
Tag this Judgment!Court : Kerala
Reported in : (1991)99CTR(Ker)124; [1991]191ITR370(Ker)
..... before the 1st day of april, 1975, or on or after that date) as may be specified in the declaration :...' 7. the above clause was substituted by the finance act, 1975 (25 of 1975), with effect from april 1, 1975. the assessment year commencing from april 1, 1975, is also included in the assessment years under consideration in ..... members' club by name sri mulam club, thiruvananthapuram. the wealth-tax officer treated the club as an individual and subjected it to wealth-tax for the assessment years 1970-71 to 1978-79. on appeal, the appellate assistant commissioner cancelled the assessment on further appeal, the income-tax appellate tribunal, upheld the order of the appellate assistant ..... , we hold that the respondent-club is an association of persons and not an individual for the purpose of the wealth-tax act and hence not an assessable entity as an individual for the assessment years 1970-71 to 1978-79. the question referred to us is, therefore, answered in the affirmative, i.e., in favour of .....
Tag this Judgment!Court : Kerala
Reported in : [1977]109ITR43(Ker)
..... scientific meaning.'23. the following passage from craies on statute law, 7th edition, under the heading 'subject and occasion of use of words may affect meaning'in chapter 9--interpretation of words (pages 169 and 170) would be apposite in this connection (the learned author is referring to a number of decisions):' 'except in mathematics ..... the manufacture or production of any of the articles specified in the first schedule to the industries (development and regulation) act, 1951, for a period of five years from the assessment years 1966-67 to 1970-71. as the officer, the 1st respondent himself points out in the impugned order it is a precondition to ..... that the income offered for regular assessment was made only from manufacture and sale of articles listed in the first schedule to the industries (development and regulation) act. the articles mentioned were alleged to be man-made fibres including regenerated cellulose, rayon, paper for packing and pulp.4. as regards assessment year 1967-68 .....
Tag this Judgment!Court : Kerala
Reported in : (1985)47CTR(Ker)145; [1985]153ITR810(Ker)
..... under sub-section (1) or sub-section (1a) of this section or sub-section (1) of section 33a or any deduction under chapter vi-a or section 280-o] is less than the aggregate of the amounts due to be allowed in respect of the assets aforesaid ..... ,658, the ito set off the loss of the earlier years. for the years 1966-67, 1967-68, 1968-69, 1969-70 and 1970-71, the loss was set off in full and for the year 1971-72, the loss was set off in part to the extent of ..... allowance carried forward under section 32(2) and unabsorbed business loss under section 72(1), in view of section 72(2) of the act, the business loss of the earlier years will be entitled to priority. according to the counsel for the petitioner, this may be so, ..... carried forward, effect shall first be given to the provisions of this section. ' 5. briefly stated, under section 32(2) of the act, unabsorbed depreciation allowance of the earlier year or years shall be deemed to be part of that allowance for the current year. the current year .....
Tag this Judgment!Court : Kerala
Reported in : [1991]190ITR385(Ker)
..... sub-section (3) of section 140a, as it stood then, is identical to section 17a(3) of the agricultural income-tax act. it should be remembered that, in the statement of objects and reasons, the finance minister categorically stated that as regards the rates of agricultural income-tax, it would be brought on par with the central income-tax ..... bom) clearly lays down that the assessee is justified in assuming that the silence on the part of the department is consent and that the time is extended till december, 1970, to file the returns. the decision in cit v. gordhanbhai jethabhai : [1983]142itr84(guj) held that when an application for extension of time for filing the return ..... tax is produced along with the return, no action can be taken to levy any penalty under section 17a(3).12. the decisions cited under the income-tax act clearly show that, in cases where no orders were passed on the application for extension of time for filing the return, the assessee is justified in construing the .....
Tag this Judgment!Court : Kerala
Reported in : [1991]188ITR137(Ker)
..... the reasoning of the allahabad high court is contained in the passage reading (at p. 190) :'under the income-tax act, although the liability to pay tax is cast upon an assessee each year in accordance with the finance act of that year, yet the tax becomes due and payable only when an assessment order is passed and a notice of demand ..... due course, that exercise was undertaken and completed by the assessing authority. exhibits p-6 to p-8 evidence the resultant assessment orders for the three years 1968-69 to 1970-71. the proceedings resulted in a refund of rs. 7,004, rs. 12,222 and rs. 75,547, respectively, for the three years in question. there was a ..... against the assessment orders. the appeals for the first two years were disposed of by the appellate order, exhibit p-4, dated september 15, 1972, and that of the year 1970-71 by the order, exhibit p-5, dated october 24, 1973. it is sufficient to notice at this juncture that, under the above orders, the assessments had been cancelled. .....
Tag this Judgment!Court : Kerala
Reported in : (2000)161CTR(Ker)187; [2000]243ITR618(Ker)
..... to the citizen on an ex parte appraisement of the circumstances in which the obligation has arisen.'14. in century spinning and . v. ulhasnagar municipal council : [1970]3scr854 , this doctrine of promissory estoppel against public authorities was extended thus:'this court refused to make a distinction between a private individual and a public body so ..... (page 723) :'we are unable to accede to the contention that the executive necessity releases the government from honouring its solemn promises relying on which citizens have acted to their detriment. under our constitutional set up, no person may be deprived of his right or liberty except in due course of and by authority of law ..... , and in fact acted on, is binding 11. lord denning approved the decision of dixon j., in grundt v. great boulder pty. gold mines ltd. [1938] 59 clr 641 in central newbury car auctions ltd. v. unity finance ltd. [1956] 3 all er 905. apart from propounding the above principle on the judicial side, lord denning .....
Tag this Judgment!Court : Kerala
Reported in : [1999]238ITR501(Ker)
..... implementation of the authorisation and not the date of the issue of the authorisation. he further drew inspiration and support as to the intendment of the legislature to the finance (no. 2) bill of 1998, where explanation 2 has been added which is as follows (see [1998] 231 itr 84) :'for the removal of doubts, ..... petition is the only remedy. she submits that the petitioners will not be in a position to successfully canvass the interpretation of the provisions of the income-tax act before the department hence, without going into the other aspects raised in the original petition, learned senior counsel confined her case to two of the following grounds ..... tax officer to pass appropriate orders within 120 days of seizure. the special procedure given under chapter xiv-b gives a separate time limit for completion of block assessment under section 158be of the act. section 158b of the act defines block period as consisting of the previous years relevant to ten assessment years preceding the previous .....
Tag this Judgment!Court : Kerala
Reported in : [2001]121STC80(Ker)
..... 22, 1985.2. the assessee invoked the jurisdiction of the deputy commissioner under section 35 of the act. section 35 of the act underwent an amendment by finance act, 1993 with effect from april 1, 1993. section 35 of the act before the amendment is as follows :'powers of revision of the deputy commissioner suo motu.--(1) the ..... admissibility of evidence or the effect which the courts give to evidence.'7. chapter vii of the act deals with appeals, revisions and refunds. section 34 of the act deals with provisions of appeals to the appellate assistant commissioner. section 35 of the act before its amendment gave power to the assessee to invoke the power of revision ..... in question. in dealing with this contention, the bench observed thus :'admittedly, no retrospective effect has been given to section 35(2a) of the act by the amendment act (act 21 of 1978). it cannot be doubted that a wider or enlarged jurisdiction is vested in the deputy commissioner to suo motu revise orders, under section .....
Tag this Judgment!Court : Kerala
Reported in : [1971]79ITR72(Ker)
..... 276(d), after april 1, 1968. but, on the same day, section 276b came to be incorporated in the act under the finance act, 1968. therefore, it is clear that the non-compliance of sections 194 and 200 occurring in chapter xviib is an offence only under section 276b after april 1, 1968, and that section 276(d) is defunct thereafter ..... from april 1, 1968. thus the word ' chapter xviib or ' having been deleted out of section 276(d) it reads as if the non-compliance of the provisions ..... by the provisions of chapter xviib or under sub-section (2) of section 226 ; . . . . he shall be punishable with fine which may extend to ten rupees for every day during which the default continues. ' 11. out of the above section the words 'by the provisions of chapter xviib or' had been omitted by the finance act of 1968 with effect .....
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