Court : Mumbai
Reported in : [2001]116TAXMAN418(Bom)
..... of the punjab urban immovable property tax act, 1940 measured by a percentage of the annual value of such buildings remained a tax on buildings under that act even though the measure of annual value of a building was also adopted as a standard for determining income from property under the income tax act. it was pointed out that although ..... the same standard was adopted as a measure for the two levies, the levies remained separate and distinct imposts by virtue of their nature. in other words, the measure adopted should not be identified with the nature of the tax....' (p. ..... co.s case (supra), validity of circumstances and property tax levied under section 119 of the u.p. kshetra samitis and zila parishads act was challenged before the supreme court. it was held that the tax on circumstances and property is not a tax on income but a tax on mans financial position, his status as a whole depending .....
Tag this Judgment!Court : Mumbai
Reported in : [2002]257ITR563(Bom)
..... 249(4) and tried to make out a case on the merits that he was entitled under section 48 read with section 55(2)(b)(i) of the income-tax act, 1961, to substitute the value of the asset as on april 1, 1981, and, hence, he was not required to comply with section 249(4)(a) of the ..... j.p. devadhar, j.1. by this petition, the petitioner challenges the order of the commissioner of income-tax, passed under section 264 of the income-tax act, 1961 (for short 'the i. t. act'). by the said order, the commissioner of income-tax has dismissed the revision application filed by the assessee both on the ground of maintainability as well as on the merits.2. we propose ..... ]243itr808(sc) . the apex court in the case of mela ram and sons v. cit : [1956]29itr607(sc) while dealing with section 30(2) of the indian income-tax act, 1922 (similar to section 249(2) of the income-tax act, 1961), held that the dismissal of an appeal as time barred is an order passed in the appeal and hence, an appeal lies from that .....
Tag this Judgment!Court : Mumbai
Reported in : 1999(3)ALLMR208; 1999(3)BomCR488; (1999)2BOMLR518; 1999(2)MhLj370
..... to be deleted. 'in respect of union bank of india' (v) the following sentences appearing in of the plaintiff as well as appropriate authority under chapter xxc of income tax act, 1961 would have been obtained. the defendant no. 2 would have definitely incorporated in the written agreement to be executed between mr. diwan rahul nanda and the defendant no. ..... of the defendants. later on the defendants applied for deletion of the said para and contended that the plaintiff was appointed as a mercantile agent and the plaintiff acted in that capacity in placing the orders on the defendants. the trial court had rejected the application for amendment on the ground that repudiation of the clear ..... not being a sentence or order passed or made in the exercise of the power of superintendence under the provisions of section 107 of the government of india act or in the exercise of criminal jurisdictional of one judge of the said high court or one judge of any division court, pursuant to section 108 of .....
Tag this Judgment!Court : Mumbai
Reported in : (1994)117CTR(Bom)198
..... 15 chhat bidis per day per worker were being taken by the assessee. since this is an order under section 145(2) read with section 144 of the income-tax act, 1961, we do not see any reason to interfere with the reasoning of the tribunal since it cannot be said that the tribunal had no material before it for ..... tribunal for opinion :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income-tax officer was correct in applying section 145(2) of the income-tax act, 1961, for the assessee's assessment for the assessment year 1964-65, and in further holding that the scope of the provisions of section ..... and was contrary to the material on record ?' 20. on the first question there is no serious dispute that the tribunal was right in holding that the income-tax officer had correctly applied section 145(2) of the income-tax act, 1961, for the assessee's assessment for the assessment year 1964-65. in view of reasons which have been given by the .....
Tag this Judgment!Court : Mumbai
Reported in : 1998(2)ALLMR689; 1998(3)BomCR70; (1998)1BOMLR279; 1998(2)MhLj147
..... obtained a certificate of execution under section 59(1)(b) of the bombay co-operative societies act, 1925 (hereinafter referred to the old act for short). consequently on 15-7-1961, the collector, jalgaon issued certificate of transfer under section 59-a(1) of the old act in respect of agricultural land belonging to the petitioners and admeasuring 11 acres, 18 gunthas in ..... debt and the said property was not lawfully transferred to respondent no. 2 and the bank was bound to render accounts to the present petitioners in respect of the income and also to restore the land to them if the debt was satisfied. the learned judge further held that the claim having been filed within 12 years was not ..... under sub-rule (5) shall use its best endeavours to lease it or to make any other use that can be made of it so as to derivethe largest possible income from the property and sub-rule (15) of the said rule states that when the society to which property is transferred under sub-rule (5) has realised all .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(2)BomCR56; (2003)2BOMLR184; [2003]260ITR6(Bom); 2003(2)MhLj963
..... july 15, 2002, being exhibit j. 1 to exhibit j. 3 issued under section 226(5) read with the third schedule to the income-tax act, 1961, under which the deputy commissioner of income-tax--respondent no. 1, has prohibited twinstar holdings limited--petitioners from receiving shares mentioned in the impugned notices. by the said notices, the depository ..... law.point for determination;21. whether the impugned attachment was in consonance with the provisions of section 226(5) read with the third schedule to the income-tax act, 1961, is the issue, which arises for determination in this case. for that purpose, one also has to examine the applicability of section 281 to the ..... approval on february 16, 2001. that, in the meantime, the official liquidator obtained noc on june 15, 1999, from the assessing officer under section 178 of the income-tax act. as stated above, on december 8, 1999, there was a search, which ultimately resulted in block assessment orders to be passed on december 31, 2001, and .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(6)BomCR84; (2002)4BOMLR229; 2002(4)MhLj507
..... of superintendence and correct in appropriate cases, it is exercisable even suo motu as is clear from the numerous statutory provisions relating to revision found in various acts and regulations such as civil procedure code, criminal procedure code, income tax act, etc. the jurisdiction of suo motu revision is not cribbed and combined or confined by conditions and qualifications. the purpose of such an amplitude being given suo ..... under article 226 and, if found bad, the high court can prohibit the ito from proceeding with reassessment. reliance is placed on calcutta discount co. ltd., v. income-tax officer, companies district i, calcutta and anr., : [1961]41itr191(sc) , east india commercial co. ltd., calcutta and anr. v. collector of customs, calcutta, : 1983(13)elt1342(sc) ; and sha m. hastimal and co. and .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(4)BomCR668; (2003)181CTR(Bom)417; [2003]260ITR220(Bom)
..... justified in issuing the impugned garnishee notice to respondent no. 1 under section 226 of the income-tax act, 1961.13. section 226 of the income-tax act provides for other modes of recovery. sub-section (3)(i) of section 226 provides that--'the assessing officer or tax recovery officer may, at any time or from to time to time, by notice in writing ..... amount of rs. 93,23,43,357 is outstanding from shaw wallace and company towards income-tax and to recover it, a notice dated march 26, 2001, has been issued by the tax recovery officer under section 226(3) of the income-tax act, 1961 (for short, 'the act'), to respondent no. 1 directing it to stop payments which are due from the ..... the case of ito v. budha pictures : [1967]65itr620(sc) . he submitted that as held by the apex court with respect to the provisions of the indian income-tax act, 1922 (as it was in operation at that time) there has to be a relationship of debtor and creditor between the third party and the assessee. unless that .....
Tag this Judgment!Court : Mumbai
Reported in : [2002]256ITR385(Bom); 2002(1)MhLj385
..... petition is directed against the revisional order dated 21st february 1986, passed under section 264 of the income tax act, 1961 ('act' for short), holding that the assessee, the petitioner bank was not entitled to get deduction under section 35 of the act in the assessment year 1975-76, in respect of the expenses incurred outside india, and also ..... in the circumstances, we hold that the petitioner-bank was entitled to claim relief under section 35b of the act.16. at this juncture, we cannot resist from observing that the judgment delivered by the income tax tribunal was very much binding on the assessing officer. the assessing officer was bound to follow the judgments in ..... claim set up by the petitioner-bank for deduction of expenditure incurred on maintenance of its branch offices outside india came to be adjudicated upon by the income tax appellate tribunal for the assessment year 1976-77 and 1977-78. the tribunal by order dated 23rd august 1983 held that the petitioner would be entitled .....
Tag this Judgment!Court : Mumbai
Reported in : [1977]107ITR609(Bom)
..... : 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that no capital gains could arise under section 45of the income-tax act, 1961, on the transfer by the assessee-firm of its goodwill to the newly constituted firm ?' 20. it is true that as against the decisions rendered by the ..... relied upon the provisions contained in section 12b(1) and (2) together with the provisos thereto of the 1922 act. he also emphasised that the position was the same even under the relevant sections of the income-tax act 1961. he, therefore, urged that since in the instant case, the goodwill of the assessee-firm could not be said ..... joshi upon a decision of the gujarat high court in commissioner of income-tax v. mohanbhai pamabhai [1973] 91 itr 393, a decision rendered under the relevant provisions of the 1961 act. 10. before dealing with the relevant provisions contained in the 1922 act as well as the 1961 act, it would be desirable to set out a few undisputed facts which .....
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