Court : Delhi
Reported in : [1982]135ITR456(Delhi)
..... be framed consistently with the ordinary principles of commercial accounting, so far as applicable and in conformity with the rules of the income tax act, or of that act as modified by the provisions and schedules of the acts regulating excess profits duty, as the case may be. for example, the ordinary principles of commercial accounting require that in the ..... however, observed if the figure of liabilities needed modification in the light of appellate orders in respect of income-tax demand or otherwise in the light of evidence produced by the assessed, necessary rectification under s. 154 of the i,t. act, 1961, would be made as and when necessary. 7. the orders passed by the ito were confirmed by the ..... income-tax under s. 66(1) of the indian i.t. act, 1922. the respondent assessed in i.t.r. no. 34/70 is bharat development pvt. ltd., rajpura, and the assessed in i.t.r. no. 42/71 is m/s. manav sahyog pvt.ltd., rajpura. the former reference relates to the assessment years 1960-61 and 1961-62 .....
Tag this Judgment!Court : Delhi
Reported in : (1980)19CTR(Del)384; [1981]128ITR456(Delhi)
..... and goodwill india limited amounting to rs. 75,450 from m/s. daulat ram public trust were not taxable income in the hands of the receiving trust under the provisions of sections 11 and 12(2) of the income-tax act, 1961?'(3) before setting out the facts on the basis of which the above questions have been referred, it is ..... 6,40,000 shares of motor & general finance ltd. from mjs. daulat ram public trust was not taxable income m the hands of the receiving trust isader the provisions of section 11 and section 12(2) of the income-tax act. 1961 for the assessment year 1970-71? 2. whether on the fads and in the circumstances of the case the ..... advisable to refer briefly to the- relevant statutory provisions. chapter iii of the income-tax act (to be referred to in brief as ''the act') contains provisions pertaining to income which does not form part of the .....
Tag this Judgment!Court : Delhi
Reported in : ILR1980Delhi1559
..... advisable to refer briefly to the relevant statutory provisions. chapter iii of the income-tax act, 1961 (to be referred to in brief as 'the act'), contains provisions pertaining to income which does not form part of the total income. section 11, which is in this chapter, deals with income derived from property held for charitable or religious purposes. it provides, inter alia ..... goodwill india ltd. amounting to rs. 75,450 from m/s. daulat ram public trust were not taxable income in the hands of the receiving trust under the provisions of sections 11 and 12(2) of the income-tax act, 1961 ?' 3. before setting out the facts on the basis of which the above question have been referred, ..... ,000 shares of motor & general finance ltd. from m/s. daulat ram public trust was not taxable income in the hands of the receiving trust under the provisions of section 11 and section 12(2) of the income-tax act, 1961, for the assessment year 1970-71 2. whether, on the facts and in the circumstances of the case .....
Tag this Judgment!Court : Delhi
Reported in : [1981]130ITR928(Delhi)
..... to the order of the aac. by this order, the total income of the petitioner was determined as rs. 6,27,266 and the income-tax payable thereon was determined as rs. 2,83,944. the assessed thus became entitled to a refund of ..... rs. 9,06,200. subsequently, it filed a return showing nil income on the ground that it was not liable to pay income-tax at all in view of s. 80p of the act. on september 20, 1976, the first assessment was completed on a total income of rs. 25,62,359 and a tax demand of rs. 18,68,096 in addition to interest under ..... a further tax of rs. 7,555. on appeal the aac directed the ito to allow exemption to the assessed under s. 80p with regard to the income from agricultural produce of the members of the assessed. consequent on this, an order was passed by the ito on september 2, 1977, under s. 143 (3)/250 of the i. t. act, 1961, giving effect .....
Tag this Judgment!Court : Delhi
Reported in : AIR1982Delhi181; 21(1982)DLT160; ILR1982Delhi1000; 1982RLR128
..... proceedings under article 226 of the constitution of india. numerous authorities have taken this view that order xxii and the technical provisions of the limitation act do not apply to writ proceedings : see hem raj v. income-tax recovery officer, jodhpur (1); k.l. bhasali v. the chief controller of imports and exports, (2) and hans raj sood v ..... . it was registered on may 7, 1925. the founders appointed mutawallis in the wakfnama. under the deed there are a number of beneficiaries who are entitled to receive income from the wakf property. (3) on the partition of the country in 1947, the mutawallis migrated to pakistan. they became evacuees. the wakf property under section 11 ..... . 57,004.80 paise. (4) after the sale, it was brought to the notice of the authorities under the act that the property had wrongly been sold. the deputy custodian general, by order dated december 6, 1961, set aside the sale. he ordered refund of the purchase price. from his order the appellants, who are the purchasers .....
Tag this Judgment!Court : Delhi
Reported in : 1981(2)DRJ60
..... in order to determine whether she was dependent upon her, husband or her husband was dependent on her business she ought to have filed the balance sheets and income-tax assessment orders pertaining to her husband for comparison. she has withheld the same. she does not disclose the assets of her husband also. from the facts on ..... the ground of eviction under section 14(l)(e) of the act, the learned counsel for the respondents contends that the appellant is not the owner of the premises. the additional controller and the tribunal have held that there was a family settlement in 1961 and that the suit premises under the tenancy of respondent no. ..... necessary and no registration is necessary. i, thereforee, bold that the additional controller and the tribunal have concurrently and rightly held that there was family settlement in 1961 and that the suit premises were allotted to the appellant. it further appears to me that the dispute regarding family settlement is, an internal matter between the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1983)3ITD693(Delhi)
..... appeals on the additional ground of appeal between different benches of the tribunal, the case was referred by the president under section 255(3) of the income-tax act, 1961, to the special bench consisting of three members for deciding the point at issue.2. there were five interveners who were represented by the counsel and ..... a property would fetch, if sold in the open market, on the valuation date.16. the learned departmental representative further contended that section 144b of the income-tax act was also a procedural section but it could not be given retrospective effect in all proceedings pending when the said section came into force so as to ..... rule 1bb was applicable to the valuation officer, the whole institution of the valuation officers in the income-tax department would become redundant.15. the learned departmental representative then contended that section 7(4) of the wealth-tax act applies to self-occupied properties and it excludes the operation of rule 1bb to such properties. .....
Tag this Judgment!Court : Delhi
Reported in : (1981)25CTR(Del)207; ILR1981Delhi40; [1982]136ITR379(Delhi)
..... naturally learned counsel on both sides cited all these decisions before us and also referred various earlier decisions and provisions of the indian partnership act, the indian income-tax 1922 as well as the income-tax act, 1961 which have been referred to and discussed in these various decisions. after having carefully gone through all these decisions we have come to the ..... the constitution taking place on the death of the partner. the question posed revolves for its determination on the provisions of section 187, 188 and 189 of the income-tax act, 1961 which may be set out for the purpose of easy reference : '187.change in constitution of a firm (1) whereat the time of making an assessment ..... , falling in one accounting period, holding that it was not a case of change in constitution of the firm governed by the provisions of section 187 of income-tax act, 1961?' (2) both the references raise a pure question of law. in both the cases there was a firm in existence and one of the partners died .....
Tag this Judgment!Court : Delhi
Reported in : 21(1982)DLT99; 1982(10)ELT247(Del)
..... under the excise act. 2. it is not necessary to set out the facts of the cases at any ..... gazette to frame one or more scheme or schemes to be called tax credit certificate scheme or schemes in relation to tax credit certificates to be granted under chapter xxii-b of the income-tax act, 1961. it is common ground that a scheme was prepared regarding tax credit certificates to be issued and promulgated in november, 1965. it ..... on excise duty livable under the central excises and salt act, 1944. 2. whether the amount of the duty of excise payable by a manufacturer mentioned in section 280zd for the purposes of tax credit certificate postulated by that section and section 280ze of the income-tax act, 1961 means excise duty actually paid or excise duty livable .....
Tag this Judgment!Court : Delhi
Reported in : ILR1982Delhi197
..... case, the tribunal was justified in directing that the penalty under section 273(a) of income-tax act, 1961, at 10% be calculated on the footing that the short-fall be determined by first reducing the gross tax by 25% and then deducting there from the tax paid at source ?' 3. the question referred to us has to be decided on the ..... background of the statute in this regard may be helpful. the i.t. act, 1961, contemplates the payment of tax even during the previous year in the case of the income except income chargeable under head 'capital gains' and casual income in the nature of lottery winnings, etc. this tax payment during the previous year itself is regulated by two sets of provisions one ..... the assessment on a total income of rs 16,97,370 (which was reduced by the aac to rs. 13,95,256) and eventually the tax payable by the assessed, after deducting the tax payments at source, came to rs. 1,34,068. the ito initiated proceedings under s. 273(a) of the i.t. act, 1961, and imposed a penalty of .....
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