Court : Karnataka
Reported in : 1993(43)ECC132; [1993]201ITR588(KAR); [1993]201ITR588(Karn)
..... the following questions have been referred under section 256 (1) of the income-tax act, 1961 :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in holdings that the assessee was not an industrial company within the meaning of section 2(7) (c) of finance (no. ..... however, he states that mining does not fail within the concept of manufacture or processing of goods and, therefore, section 32a(2)(b)(iii) of the income-tax act, 1961, is not attracted. ..... thereafter, it was concluded that merely because some articles may undergo some kind of processing, the entire income cannot be attributed to the processing of the said articles and the object of the activity carried on by the assessee is relevant to consider the nature of the main activity of the assessee ..... the appellate tribunal thus affirmed the reasoning of the commissioner of income-tax (appeals).4. ..... in the appeal filed by the assessee, this order was affirmed by the commissioner of income-tax (appeals). ..... (2) whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee was not entitled to investment allowance under section 32a of the act in respect of mobile crane and air compressor ?' 2. ..... at para 9, while considering section 32a of the act, again he observes that no productions of any articles or thing is involved in chipping and sizing the granite ..... 2) act, 1977 ? ..... this reference arise out of the assessment proceedings for the assessment year 1977-78. .....
Tag this Judgment!Court : Karnataka
Reported in : (1985)47CTR(Kar)162; ILR1985KAR1109; [1985]155ITR66(KAR); [1985]155ITR66(Karn)
..... act, 1961, and the question of law referred is : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is correct in law in treating the assessee either as a manufacturer of goods or as engaged in the processing of goods within the meaning of section 2(7)(c) of the finance ..... 2) act, 1977, has to be understood in its ..... the ito rejected that claim and assessed the income by applying normal rate of taxation, but in appeal before the aac, the assessee ..... act, 1977 ..... act, 1977 ..... [1981] 47 stc 124, wherein it was observed : 'this word has not been defined in the act and it must therefore be interpreted according to its plain natural meaning. ..... ) 2) act, 1977, to mean : ''industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in ..... is subjected to a process or treatment with a view to its 'development or preparation for the market', as, for example, by sorting and repacking fruits and vegetables, it would amount to processing of the commodity within the meaning of section 8(3)(b) and rule 13. ..... the finance ..... the finance ..... the finance ..... an industrial company, it would be entitled to be taxed at a concessional rate. ..... : [1977]107itr822(mad) , the madras high court held that folding and stitching of the printed sheets by employing some labour contractors without even a printing machine would constitute 'processing .....
Tag this Judgment!Court : Karnataka
Reported in : [1988]174ITR206(KAR); [1988]174ITR206(Karn)
..... reference made under section 256(1) of the income-tax act, 1961 (central act 43 of 1961) ('the act'), the income-tax appellate tribunal, bangalore bench, bangalore ('the tribunal'), at the instance of the assessee, has referred the following question of law for the opinion of this court : 'whether, on the facts and in the circumstances of the case, the assessee is entitled for deduction under section 36(1)(viii) of ..... income' is defined in section 2(45) of the income-tax act as 'the total amount of income referred to in section 5, computed in the manner laid down in this act ..... income-tax officer is directed to calculate the allowance under section 36(1)(viii) at 40% of the total income before allowing deduction under chapter vi-a and not under section 36(1) of the income-tax act ..... to the accounting year ending on march 31, 1975, the assessee, a financial corporation, established and functioning under the state financial corporations act, 1951 (act lxii of 1951), filed its return before the income-tax officer, company circle-iv, bangalore, inter alia, declaring that it had created a sum of rs. ..... is set out in the memorandum explaining the provisions in the finance bill under 'income-tax', at para 106, thus (see [1985] 152 itr 175 ..... appellate assistant commissioner, the revenue filed a second appeal before the tribunal which by its order dated december 24, 1977, allowed the same, reversed the order of the appellate assistant commissioner and restored the order of the income-tax officer. .....
Tag this Judgment!Court : Karnataka
Reported in : [1987]164ITR140(KAR); [1987]164ITR140(Karn)
..... section 256(1) of the income-tax act, 1961 ('the act'), the income-tax appellate tribunal, bangalore bench, bangalore ('the tribunal'), at the instance of the assessee, has referred the following question of law for the opinion of this court for the three assessment years of the assessee : 'whether, on the facts and in the circumstances of the case, the assessee was not entitled to the allowance under section 35b of the income-tax act in respect of expenditure of rs. 30,900 for the assessment year ..... . the assessee has been incorporated, inter alia, with the primary object of carrying on business 'to aid, counsel, assist, finance, protect and promote the interests of small industries in karnataka, whether owned or run by the government, a statutory body, a company, firm or an individual, or to provide them with ..... its returns filed under the act before the income-tax officer, company circle-iv, bangalore, the assessee claimed 'weighted deduction' on the aforesaid amounts under section 35b of the act, and the income-tax officer by separate but identical ..... directly or in association with any other person, any expenditure (not being in the nature of capital expenditure or personal expenses of the assessee) referred to in clause (b), he shall, subject to the provisions of this section, be allowed a deduction of a sum equal to one and one-third times the amount of such expenditure incurred during the previous year : provided that in respect of the expenditure incurred after the 28th day .....
Tag this Judgment!Court : Karnataka
Reported in : (2005)197CTR(Kar)609
..... the apex court after concluding that the club is not assessable to wealth-tax in assessment years 1970-71 to 1977-78 as an aop, has made reference to insertion of section 21aa in the wealth tax act by the finance act, 1981, with effect from 1-4-1981, which provides for assessment of aop in certain specified cases and ..... the case of the charging section 3 of the wealth tax act, the phraseology of the charging section 3 of the indian income tax act, 1922, has not been adopted ..... similarity of wording between the various provisions of the wealth tax act and the corresponding provisions of the indian income tax act, 1922. ..... court while affirming the view expressed by the gujarat high court has observed :'all these provisions go to show that the wealth tax act has been drafted on thd same lines as the indian income tax act, 1922. ..... section 3 of the income tax act, section 3 of the wealth tax act does not mention a firm or an aop or a boi as taxable units of assessment.the position has been placed beyond doubt by the insertion of section 21aa in the wealth tax act ..... sub-section (1) of section 21aa provides that where assets chargeable to wealth-tax are held by an aop (other than a company or co-operative society) and the individual shares of the members of the association in the income or assets or both are indeterminate or unknown, wealth-tax shall be levied and recovered from such association in the same manner and to the same extent as an individual, citizen and resident in india, at the .....
Tag this Judgment!Court : Karnataka
Reported in : (1991)98CTR(Kar)114; [1992]194ITR77(KAR); [1992]194ITR77(Karn)
..... as per the second proviso to section 2(6) of the finance act, 1976, an assessee, being a company, may in lieu of payment of surcharge on income-tax at the rate specified in para e of part iii of the first schedule to the act, make a deposit under the scheme framed under sub-section (8) thereof. ..... the assessee, instead of paying the surcharge on income-tax under the provisions of the companies (profit) surtax act, 1964 ('the act' for short), deposited the equivalent amount with prepared under the provision of the finance act, 1976. ..... the proviso to section 2(6) of the finance act, 1976, referred to above, gives an option to the assessee either to pay the surcharge or make the deposit. ..... another facet of interpretation is to understand the word 'payable' in rule 2 in the context of the second proviso to section 2(6) of the finance act. ..... under the provisions of the income-tax act, 1961, the following question has been referred for our consideration : 'whether, on the facts and circumstances of the case, the deposits made with the idbi do not tantamount to payment of income-tax and, therefore, are not deductible for the purpose of computing the chargeable profits ?' 2. ..... that is to say, the deposits made with the industrial development bank of india do not amount to payment of income-tax and, therefore, are not deductible for the purpose of computing the chargeable profits. ..... the assessment year is 1977-78. .....
Tag this Judgment!Court : Karnataka
Reported in : ILR2005KAR4673; [2007]290ITR522(KAR); [2007]290ITR522(Karn)
..... that is why an amendment is made by the finance act, 1981, whereby section 21aa of the act was inserted to bring to tax the net wealth of an aop where individual shares of the members of the ..... are concerned, keeping in view the provisions of section 21aa of the act, which has been inserted in wt act by finance act, 1981, w.e.f. ..... view the amendment effected to wt act by the finance act, 1981, by which amendment section 21aa is inserted w.e.f. ..... :a new section 21aa was inserted in the wt act by the finance act, 1981, ..... is rejected by the tribunal, on the sole ground that in the quantum appeals filed by the assessee for the same assessment years, the tribunal has held that the provisions of section 21aa of the act would not apply to a mutual club like the assessee and therefore, the assessment orders are not sustainable as the assessee is not an entity susceptible for wealth ..... has observed :'it will be seen that assessment as an aop can be made only when the individual shares of the members of the association in the income or assets or both the association on the date of its formation or any time thereafter are indeterminate or unknown. ..... 1977-78 as an aops, and while saying so, the court has observed that 'the position has been placed beyond doubt by the insertion of section 21aa in the wt act ..... 1977-78 as an aop, has made reference to insertion of section 21aa in the wt act by the finance act, ..... was that, the assessee was a club and the assessment years involved were 1970-71 to 1977-78. .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1950Kant1; [1956]26CompCas121(Kar)
..... income-tax under section 66(2), mysore income tax act. ..... 'whether on the facts and circumstances of the ease the applicants can be held to have any income accruing or arising to them directly or indirectly through or from any business connection in mysore under sections 4 ad 42(1), mysore income-tax act. ..... served on 3rd april 1944 with a notice under the income-tax act by the additional deputy commissioner of income-tax, companies circle, calling upon him to make a return of the total income of the company during the year ending on 30th june ..... section 42 (1) states: 'in the case of any person residing out of mysore all profits, or gains accruing or arising to such person, whether directly or indirectly through or from any business connection in mysore.....shall be deemed to be income accruing or arising within mysore and shall be chargeable to income-tax either in his name ..... a whole carried on here signifies that the business is under the sway of the company and though the sale to the 'customer' appears outright is attended with the followed by conditions of having to act in accordance with the directions and dictates of the company, when the sale is hedged in with conditions which fetter the purchaser from freely dealing with the goods as he likes at any place and when ..... which includes not only the kinds of things specifically described as being included in the term 'business' but also the kinds of things which are specifically mentioned in section 3, english finance act, viz. .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1951Kant14; AIR1951Mys14
..... said that:'even assuming that the ward lists have not been prepared strictly according to those sub sections the applicant must still satisfy the court before invoking its extra-ordinary jurisdiction (under section 45, specific relief act) that the ward lists and the electoral rolls based upon them would have injured his franchise or personal right. ..... he complained that the ward lists had not been prepared according to sub-sections (8) and (4) of the act and that his name wag placed among a community and not placed strictly according to alphabetical order among the voters as prescribed by the rules though he was enrolled as a voter in his own ward. ..... section 45, specific relief act, states:'the high court of mysore may make an order requiring any specific act to be done or forborne, within the limits of its appellate jurisdiction, by any person holding a public office, whether of a permanent or a temporary nature, or by any corporation or inferior court of judicature; provided: (a) that an application for such order be made by some person whose property, franchise, or personal right, would be injured by the forbearing or doing (as the case may be) of the said specific act. ..... under section 7, societies registration act, it is provided that a society which is registered under that act may sue or be sued in its own name and for that purpose it may have a corporate existence of its own. .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1951Kant70; AIR1951Mys70; [1951]2STC122(Kar)
..... represented at the bar that the mysore legislature has recently adopted an amendment of section 22 by omitting the expression 'civil' in section 22 of the mysore act, which in effect precludes any court, civil or criminal, from entering into ..... it was contended that under section 15(b) of the madras general sales tax act which is similar to section 20(b) of the mysore act the high court came ..... section 20 deals with offences and penalties and the relevant portion of the section applied to these cases is clause (b) which reads with the section thus :- 'any person who fails to pay within the time allowed, any tax assessed on him, or any fee due from him, under this act shall on conviction by a magistrate of the first ..... it is argued that section 22 of the act, which runs thus :- 'save as provided in section 16, no assessment made and no order passed under this act or the rules made thereunder by any assessing authority shall be called in question in any civil court and save as is provided in sections 14 and 15, no appeal or application for revision shall lie against any such assessment or order', only precludes a civil court from calling in question the assessment made and the assessee is ..... section 25 of the act enables the government to make rules to carry out the purposes of the act and the rules made by the government prescribe a detailed procedure to be followed in the levy of tax ..... sections 5 to 9 of the mysore sales tax act provide for the ..... section 20(b) of the mysore sales tax act .....
Tag this Judgment!