Court : Kerala
Reported in : AIR1960Ker92
..... i. t. r. 28: (air 1952 bom 282) and chagla, c. j. delivering the judgment of the court said:'section 16 (2) can only apply to the income-tax paid by a company in india at the rate laid down by the finance act and it cannot apply to the tax paid by a company outside india. there is no provision in the ..... act for adding to the dividend of a share-holder the tax paid by the company outside india'and they held accordingly ..... the company to a share-holder-assesses incomputing his total income and whether such question can ec raised in this course and for purpose of rectification proceedings under section 35 of the income-tax act. 1922.2. the common petitioner in these petitions was first assessed for 2 different years on the basisof his net dividends as derived from a ceylon company .....
Tag this Judgment!Court : Kerala
Reported in : [1988]172ITR71(Ker)
..... to section 46(1) of the estate duty act, 1953. in the circumstances, we answer question no. (1) in the affirmative, that is, in favour of the revenue and against the ..... warranted by the proviso to section 46(1). see the decision of the madras high court in ced v. smt. s.t.b. ameen khaleeli : [1983]143itr679(mad) . see also the principle stated in mc dougal's trustees v. irc [1952] 31 a t c 153 : [1983] 143 itr 698 on the basis of section 31 of the finance act, 1939 (u.k.), corresponding ..... of the estate, whether the accountable persons were entitled to claim deduction representing the said loan of rs. 1,57,641. the tribunal applying the provisions of section 46(1) of the estate duty act, 1953, held that, in so far as the persons who received the properties of the deceased subsequently became partners of the new firm into which they .....
Tag this Judgment!Court : Kerala
Reported in : [1991]191ITR63(Ker)
..... v. glory paul : [1990]186itr496(ker) , wherein, besides the above decision in sarala devi's case [1987] 167 itr 136, the amendment made by section 3 of the finance act, 1989, to section 2(14) of the income-tax act, 1961, was also referred to, to show that the plea that no capital gains tax is leviable on the acquisition of agricultural lands is without ..... -73. during the previous year, about 2 acres and 3 1/5 cents of land belonging to the hindu undivided family was acquired by the government under the land acquisition act for the purpose of the cochin shipyard. the short question that was mooted by the petitioner before the authorities below was that the lands acquired are agricultural lands and any .....
Tag this Judgment!Court : Kerala
Reported in : [1995]211ITR448(Ker)
..... 191 itr 370). in that decision, we held that the assets of an association of persons are not chargeable under section 3 of the wealth-tax act, 1957, before the insertion of section 21aa. that section was introduced by the finance act of 1981 and is not applicable up to and inclusive of the assessment year 1980-81. in these references we are ..... concerned with the assessment years up to 1979-80. section 21aa cannot therefore be resorted to by the revenue for ..... govindram family charity trust v. cit : [1973]88itr47(sc) , it was contended that a club is an individual and as such liable to be taxed under section 3 of the wealth-tax act. as observed by the bombay high court in orient club v. cwt : [1982]136itr697(bom) , merely because co-trustees have been treated as a single .....
Tag this Judgment!Court : Kerala
Reported in : [1994]207ITR288(Ker)
..... reopening of the assessment.3. on the merits, the appellate tribunal held that, before the introduction of section 40a(7) of the act by finance act, 1975 (act 25 of 1975), with retrospective effect from april 1, 1973, section 36(1)(v) of the income-tax act along with rule 103 of the income-tax rules, applied and after the introduction of ..... section 40a, the deduction should be worked out on the basis of section 40a(7). under the said provision, the ..... view of the matter and no 'information' is involved to justify the reopening of the assessment. he also opined that the matter is governed by section 40a(7) of the income-tax act, and deduction was allowable. the order of the commissioner of income-tax (appeals) is dated october 8, 1982 (annexure-b). in further appeal by .....
Tag this Judgment!Court : Kerala
Reported in : [1992]194ITR449(Ker)
..... delivered originally in original petition no. 3709 of 1990 dated june 4, 1990.2. we heard counsel for the appellant. section 44ac and section 206c of the income-tax act, brought in the statute book by the finance act, 1988, are the targets of attack. the two main grounds of attack relied on are that the said provisions of law ..... --sections 44ac and 206c of the income-tax act--are beyond legislative competence and also discriminatory. the above twin aspects are sought to be approached from different angles and ..... of 1990, is the appellant in this writ appeal. he is an abkari contractor and an assesses under the income-tax act, 1961. in the original petition, the attack was against section 44ac of the income-tax act, 1961. the petitioner contended that the said provision of law is ultra vires the constitution. the provision was challenged as .....
Tag this Judgment!Court : Kerala
Reported in : (1992)103CTR(Ker)174; [1993]199ITR347(Ker)
..... the commissioner of income-tax directed depreciation and investment allowance to be granted taking into account interest also. an explanation was added to section 43(1) of the income-tax act by the finance act of 1986, with retrospective effect from april 1, 1974, providing for writing off of future interest as revenue expenditure subsequent to the commencement ..... default occurred due to circumstances beyond the control of the assessee. the levy itself was on account of the explanation introduced in 1986 to section 43(1) of the income-tax act. the relevant assessment year is 1979-80. it is further pointed out that the commissioner has not considered the genuine hardship that would ..... interest relating to the period beyond one year from the date of filing of the return in respect of the interest levied under section 215 of the act. no error has, therefore, been committed by the commissioner warranting interference in this petition. 6. the original petition is, therefore, dismissed in limine.
Tag this Judgment!Court : Kerala
Reported in : [1991]188ITR612(Ker)
..... 1977-78 for which the accounting period is april 1, 1976, to march 31, 1977. in view of the later statutory provision made in section 40a(7) of the income-tax act with retrospective effect by the finance act of 1975, the decision in high land produce co. ltd.'s case : [1976]102itr803(ker) may not be applicable to the case on ..... hand. the question whether the payment to the group gratuity scheme is allowable should be decided in the light of section 40a(7)(b)(i) of ..... the income-tax act. the appellate tribunal .....
Tag this Judgment!Court : Kerala
Reported in : AIR1968Ker295
..... be so was fairly conceded by the learned counsel for the applicant. we may, 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, ..... under these circumstances, the said property can be deemed to be property passing on the death of shri 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 donor ..... 68,831/- fixed by the alsistant controller was reduced to rs. 50,000/-. being dissatisfied with the order of the central board, the applicant moved under section 64 of the act by an application dated 6th june, 1960 to refer the following questions of law said to arise out of the said order for decision by this court .....
Tag this Judgment!Court : Kerala
Reported in : (1987)59CTR(Ker)143; [1986]160ITR588(Ker)
..... ) and the law as declared by a competent court is binding on the tribunal.4. section 140a was introduced by the finance act, 1964, with effect from april 1, 1964. the section was amended by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. sub-section (1) of section 140a as amended requires the tax on self-assessment to be paid within thirty days ..... after the filing of the return. sub-section (3) confers a discretionary power on the income-tax .....
Tag this Judgment!