Court : Kerala
Reported in : [1975]98ITR130(Ker)
..... 176' there are few things more difficult than to determine when an executor ceases to have duties qua executor or virtute officii, or, as it is phrased in the finance act, 'as such'. there are few wills which come before the court which do not contain directions to persons as executors and as trustees, and it is a common ..... probate, as administrator. notice was issued to the said narayanan and since there was no response an assessment was made for the year 1955-56, under section 23(4) of the act. the same procedure was followed for the year 1956-57. the assessee filed appeals and contended that a compromise had been entered into when the proceedings for ..... , and that thereafter the position of the executor, mundan, was that of a trustee and hence it was urged that the legatees were to be assessed under section 41 of the act. the other points raised in the appeals are not relevant for this reference. the appeals were rejected by the appellate assistant commissioner by order, annexure 'd'. there .....
Tag this Judgment!Court : Kerala
Reported in : (1976)5CTR(Ker)357
..... been brought by the petitioner seeking to quash exts. p2 and p3.2. by an amendment introduced in the act by the finance act of 1971. item 22d was introduced in the first schedule to the said act whereby ad-valorem excise duty at 10% was made leviable in respect of articles of ready-to-wear apparel, ..... entire stock of brassiers kept in the petitioners business premises as per the mahazar ext. p2 and in issuing the prohibitory order ext. p3 under section 110 of the customs act, 1962 is illegal and without jurisdiction.3. the brassiers are undoubtedly undergarments falling with the description 'articles of ready-to-wear apparel (known commercially ..... had already been applied fully when the plain extruded aluminium tube purchased by the petitioner were originally manufactured. dealing with the scope of the definition contained in section 2(f) the learned judges held that any process that is incidental or ancillary to completion or a manufactured product, however unessential it may be, will .....
Tag this Judgment!Court : Kerala
Reported in : [1974]97ITR232(Ker)
..... is correct in law in holding that the shareholder is entitled to a deduction from the tax payable by him under section 49b of the indian income-tax act, 1922, as amended by section 14 of the finance act, 1959, even on that portion of the dividend attributable to the profits of the companies assessed to agricultural income-tax which ..... has not been subjected to tax under the indian income-tax act in the hands of the shareholder ?'2. the assessee is a company, ..... tax is exclusively relating to that dividend because the assessee had no other income and the tax is on the dividend income alone- now, turning to section 49b of the act, we shall read the whole of it;'49b. relief to shareholders in respect of agricultural income-tax attributable to dividends.--where a company pays to a .....
Tag this Judgment!Court : Kerala
Reported in : [1973]90ITR503(Ker)
..... that the bonusshares were issued not out of premiums received in cash and the consequent result in the light of the finance act, 1957, was informationwithin the meaning that expression is used, in section 34(1) of the indianincome-tax act of 1922, and, consequently, the reopening of the assessmentunder that provision was not illegal. these two decisions, salem providentfund ..... effectof binding precedents; if it is received from any other source it would not be ' information ' as to the state of the law within the meaning of section 147(b) of the act. this latter view gains support from the gujarat high court in kasturbai lalbai v. r. k. malhotra, income-tax officer, [1971] 80 i.t.r. ..... the conclusion that the income chargeable to tax had escaped assessment. he, accordingly, brought to tax the amount of rs. 30,000 as capital gains.3. section 147 of the act is to the following effect: 'if-(a) the income-tax officer has reason to believe that, by reason of the omission or failure on the part of .....
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 ..... a result of the fresh assessment order again becomes due and payable only after a fresh notice of demand is served upon the assessee.'17. adverting to the provisions in section 244, that court observed (at p. 190) :'this provision fully covers the cases where remand proceedings are pending after the assessment order is set aside. in such cases, ..... 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 .....
Tag this Judgment!Court : Kerala
Reported in : [1968]70ITR640(Ker)
..... is should be so fairly conceded by the learned counsel for the applicant. we many, in this context, note that section 10 of the act has been amended by section 69 of the finance act, 1965, by adding the following proviso to section 10 :'provided further that a house or part thereof taken under any gift made to the spouse, son daughter, ..... his wife and children in the said property can be deemed to be property passing on the death of sri parameswaran pillai, depends on the application of section 10 of the act. this section reads as follows :'gifts whenever made where donor not entirely excluded. -property taken under any gift, whenever made, shall be deemed to pass on the ..... standing in the name of the wife of the deceased was correctly included in the estate of the deceased as property deemed to pass on his death under section 10 of the act ?2. whether, on the facts and in the circumstances of the case, for the purpose of inclusion in the estate, the properties covered by the settlement .....
Tag this Judgment!Court : Kerala
Reported in : [1967]66ITR250(Ker)
..... basis of the regular assessment, so far as such tax related to income to which the provisions of section 18 do not apply and so far as it is not due to variations in the rates of tax made by the finance act enacted for the year for which the regular assessment is made, simple interest at the rate of six ..... on the face of the record as explained in the decision in sidhramappa v. commissioner of income-tax.counsel on behalf of the revenue invited my attention to section 18a(8) of the act reading as follows :'18a. (8) where, no making the regular assessment, the income-tax officer finds that no payment of tax has been made in accordance ..... iv income-tax officer, e-ward, bombay and lata mangeshkar v. union of india. those were cases where similar alleged mistakes were corrected by exercising power under section 35 of the indian income-tax act, 1922. the orders of correction were set aside as without jurisdiction. reliance was also placed on the supreme court decision in s. a. l. narayan row .....
Tag this Judgment!Court : Kerala
Reported in : [1989]180ITR37(Ker)
..... the income-tax act, in computing the total income of an assessee, there shallbe allowed ..... permissible deduction under section 37(1) of the income-tax act.5. we are concerned with the assessment year 1978-79. counsel for the assessee laid stress on section 80v of the income-tax act which was inserted by the taxation laws (amendment) act, 1975, and which was in force till the passing of the finance act, 1985. as per section 80v of ..... by way of deduction any interest paid by him in the previous year on any money borrowed for the payment of any tax due from him under the act. counsel for the assessee .....
Tag this Judgment!Court : Kerala
Reported in : [1962]46ITR430(Ker)
..... penalty is concerned, the larger contention that was raised was to the effect that when once the cochin income-tax act, vi of 1117, has been repealed by the finance act of 1950, section 38 of the cochin act is no longer available to the officer for exercising his powers of levying penalty.so far as this aspect is concerned ..... he is of the view that there is no reference to a partition deed dated december 10, 1947, in that letter nor to an order under section 25a(1) of the act. therefore, the appellate assistant commissioner concludes by saying 'the original undivided family should therefore be deemed to continue for purposes of assessment proceedings'. in view ..... exist and therefore the officer had no power to levy penalty on the members of the joint family after such disruption under section 34 of the cochin act corresponding to section 25a of the indian income-tax act.the second contention raised is that in any event the person who was guilty of suppression was the deceased, popatlal, and, .....
Tag this Judgment!Court : Kerala
Reported in : (1997)142CTR(Ker)364
..... not to the income. the term export turnover is defined as sale proceeds of any goods etc. exported out of india. apparently s. 80hhc was introduced by finance act, 1983 to encourage export. we are therefore in full agreement with the view taken by the tribunal that the assessee is entitled to claim deduction under s. ..... assessment the ito disallowed certain amounts relating to the cost of repairs and insurance premium of motor cars from the expenditure by applying the provisions under section 37(3a) of the it act, 1961. the assessee successfully challenged the disallowance before the cit(a). on an appeal filed by the revenue, the tribunal upheld the view taken ..... of such goods or merchandise during the previous year exceeds the export turnover of such goods or merchandise during the immediately preceding previous year.(2)(a) this section applies to all goods or merchandise (other than those specified in clause (b) if the sale proceeds of such goods or merchandise exported out of india .....
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