Court : Punjab and Haryana
Reported in : (2006)206CTR(P& H)462; [2006]286ITR686(P& H)
..... this appeal by the revenue under section 260a of the income-tax act, 1961 (hereinafter referred to as 'the act'), is directed against the order dated may 17, 2004, passed by the income-tax appellate tribunal, chandigarh bench-a (for short 'the tribunal'), in i.t. a. no. ..... in the order of the commissioner of income-tax (appeals) it has been specifically noted that the audit accounts along with the audit report, balance-sheet, profit and loss account, fixed assets and depreciation chart, as prescribed, had been filed with the department. ..... according to the revenue, the impugned order gives rise to the following substantial question of law:whether, the hon'ble income-tax appellate tribunal was right in law in separately allowing depreciation to the assessee for the assessment year 1994-95 when the net profit rate at 8 per cent, was adopted thereby deeming that the deductions under sections 30 to 38 have already been given full effect ?2. ..... answering the question in favour of the assessee, this court opined that such a claim had to be separately taken into account, provided the requisite particulars had been furnished by the assessee.4. ..... suffice it to note that the only issue before the tribunal was that when a net profit rate is applied because of non-maintenance of proper books of account, the assessee is still entitled to claim other business expenses, like salary, interest and depreciation, etc.3. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2006]280ITR686(P& H)
..... jain, c.j.this appeal by the revenue under section 260a of the income tax act, 1961 (hereinafter referred to as 'the act'), is directed against the order dated 17-5-2004, passed by the income tax appenate tribunal, chandigarh bench-a (hereinafter referred to as 'the tribunal'), in i. t. a. ..... the order of the commissioner (appeals) it has been specifically noted that the audit accounts along with the audit report, balance-sheet, profit and loss account, fixed assets and depreciation chart, as prescribed, had been filed with the department. ..... it to note that the only issue before the tribunal was that when a net profit rate is applied because of non-maintenance of proper books of account, the assessee is still entitled, to claim other business expenses, like salary, interest and depreciation, etc.a similar issue came up for consideration of this court in cit v. ..... the question in favour of the assessee, this court opined that such a claim had to be separately taken into account provided the requisite particulars had been furnished by the assessee.in an attempt to distinguish the said decision, mr. ..... according to the revenue, the impugned order gives rise to the following substantial question of law :'whether, the hon'ble incoine tax appellate tribunal was right in law in separately allowing depreciation to the assessee for the assessment year 1994-95 when the net profit rate at 8,ra ..... was adopted thereby deeming that the deductions under sections 30 to 38 have already beemgiven full effect .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 1951CriLJ1041
..... the civil side are constantly being made under various acts & reference may be made in this connection to section 66 (3), income tax act, to section 99 & 100, tenancy act, & to order 46, civil p.c. ..... & the great traditions which the profession has built up for itself in all parts of the civilised world, i hope that this attitude of those learned gentlemen was only due to their inability to find time, on account of their other pre-occupations, to study the subject, & not to any disinclination on their part to assist the ct. ..... purpose & end of political society has been defence against external enemies, & the maintenance of peaceable & orderly relations within the community itself. ..... circumstance that in considering whether or not to confirm the order, it also possesses the power to set aside or modify the order can possibly make no difference and cannot constitute the submission of the proceedings of a decided case a reference of the case itself.83. ..... and we do further ordain & declare that all the provisions of these our letters patent are subject to the legislative powers of the governor general in legislative council, & also of the governor general in council under section ..... is required to detain him in prison and to refer to the high court the question as to the period for which he is to be ..... it reads:and we do hereby declare that any function which is hereby directed to be performed by ..... and in consonance with this broad meaning of the word, 'appellate jurisdiction means 'the power of .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1949P& H267
..... a person has not been heard of for seven years, there is a presumption of law that he is dead; but at what time within that period he died is not a matter of presumption but of evidence, and the onus of proving that the death took place at any particular time within the seven years lies upon the person who claims a right to the establishment of which that 'fact is essential. ..... position as daughters.a principle that would lead to such absurd conclusion cannot be a sound principle to follow to its ultimate conclusion.in no system of law that we are aware of are the claims of daughters and sisters placed on the same footing, and we cannot imagine that the agriculturists of this province by a subtle train of reasoning would ever have put them on the same footing.with these remarks i respectfully agree. ..... should lose their life estates by remarriage, which they could not have done if they had succeeded as mothers, but we are asked now to extend this principle, and mate it a governing principle, which should of itself regulate the law of succession.we do not think that a principle of this kind can be followed up to all its logical conclusions. ..... it was held in that case that section 108 has nothing to do with the time of death of a person and when a plaintiff comes to court on the allegation that the person to whose property he wishes to succeed died on a particular date, ..... according to section 108, evidence act, this only raises the presumption regarding death but not about the time of .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 1949CriLJ568
..... the return of the said subpoena or taking any other steps, to secure the presence of hassan shah before the court admitted his deposition before the committing magistrate as evidence for the prosecution and it was held that none of the requirements of section 33, evidence act, had been satisfied.7. ..... khawab ahmad ehan had left for pakistan and that his attendance could not be obtained without an amount of delay or expense which under the circumstances of the case was unreasonable and, therefore, ordered that the statement of rana khawab ahmad khan made in the court of the committing magistrate be transferred to the record of the sessions court under section 33, evidence act. ..... proof that hassan eban was in fact ill and that his presence could not be obtained without unnecessary expense or delay as laid down in section 33, evidence act.9. ..... report to that effeot made by the patwari on the summons.the public prosecutor, on that evidence, applied to have his statement made before the magistrate transferred to the sessions file and read wader section 33, evidence act. ..... lordships of the privy council held:when evidenoa given by the witness in a judioial proceeding is sought to be used under section 33 in a subsequent judicial proceeding or in a later stage of the same judioial proceeding on the ground that the witness ib incapable of giving evidence that fact must be proved strictly.in that case a summons was served on lachhman das ordering him to appear and give evidence at the trial. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1950]18ITR33(P& H)
..... case referred to the high court by the income-tax appellate tribunal of allahabad under section 66(1) of the income-tax act.the reference actually covers three cases relating to the same company which has been contesting its assessments for the assessment years 1940-41, 1941-42, 1942-43, the accounting years being those ending on the 31st of march, 1940, the 31st of march, 1941, and the 31st of march, 1942. ..... laid down by a full bench :-'it is necessary to look to section 42(1) of the indian income-tax act to find out, in the case of a non-resident, what income, profits or gains are deemed to accrue, or arise, or to be received in british india under the provisions of the act; and from section 42(1), we find that all profits or gains accruing or arising to a non-resident, whether directly or indirectly, through or from any business connection or property in british india is deemed to be such income, and is therefore, chargeable under section 4(1) and 6.'2. ..... , 7 1/2 per cent, and 7 1/2 per cent.the assessee company has, however, throughout maintained that it is not liable to any income-tax in this country in which its business simply consists of the buying of raw material and it accordingly put in an application under section 66(1) of the income-tax act before the tribunal for the stating of a case and referring it to the high court on ..... answer to this question was negative and that the second question, 'whether section 42(3) of the indian income-tax act was applicable', did not arise .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1950]18ITR1(P& H)
..... , and whether a reference to arbitration with a view to have the joint family property partitioned in definite portions legally amounts to a partition of the ..... of which the order was claimed took place beyond the year of account, the income from which was the subject-matter of assessment ..... the tribunal further held that the accounting year of the applicants ended on 31st march, 1943, while the partition of the family assets took place under the award made on 19th november, 1943, and so the applicants were not entitled to an order under section 25a in respect of the assessment year in question.the questions for determination are whether the income-tax officer had jurisdiction to pass an order under section 25a(1) of the income-tax act, although the partition on the basis .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1949]17ITR394(P& H)
..... a money-lender who agrees to finance a business adventure of another on the latters undertaking to pay him a share of the profits in lieu of interest does not become in law a partner of the latter and for the purpose of section 10 of the income-tax act the transaction cannot be regarded as otherwise than a money-lending transaction. ..... the income-tax officer by means of his order, dated september 10, 1945, declined to allow this deduction on the ground that the expenditure being one for obtaining a capital asset and not being in any way connected with the earning of profit for the accounting year in question could not be allowed under section 10(2)(xv). ..... the five concerns in question here were separate business and, if those business had been carried on during the year of account, the profits and gains of each of them separately would have been arrived at under section 10(1) and (2) of the act after making the allowances given in sub-section (2). ..... 'the language of the relevant portion of section 10 also shown that the business in respect of the profits or gains of which an assessee can be required to pay income-tax, and consequently expenditure laid out or expended in which can be allowed in assessing such profits or gains must be a business which was actually carried on during the accounting period.in commissioner of income-tax, bengal v. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1949P& H348
..... five concerns in question here were separate businesses and, if those businesses had been carried on during the year of account, the profits and gains of each of them separately would have been arrived at under sections 10(1) and (2) of the act after making the allowances given in sub-section (2).the language of the relevant portion of section 10 also shows that the business in respect of the profits or gains of which an assessee can be required to pay income-tax, and consequently expenditure laid out or expended on ..... to finance a business adventure of another on the tatter's undertaking to pay him a share of the profits in lieu of interest does not become in law a partner of the latter and for |he purposes of section 10, income-tax act, the transaction cannot be regarded as otherwise than a money-lending transaction. ..... assessee thereupon moved the said tribunal under section 66, income-tax act for stating the case and for referring to this court the question ..... which can be allowed in assessing such profits or gains, must be a business which was actually carried on during the accounting .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1949]17ITR406(P& H)
..... on an application by the commissioner of income-tax presented under section 66 of the indian income-tax act the appellate tribunal has stated a case and has referred the following question of law to this court for decision :-'whether on the facts proved or admitted in the case, the sum of rs. ..... commissioner of incomes-tax, madras, were that the assessee who was a partner in a money-lending firm carrying on business in tebing tinggi (sumatra) had a personal account in the account books of that firm opened on the september 5, 1931, with a credit balance of guilders 36,723.24, which amount was described as being surplus capital. ..... it might further be that either this discovery was made by the foreign representatives or agents of the assessee after having remitted to him the amount of the profits, or otherwise, on grounds of convenience or for the clarity of accounts, they preferred to keeps the profits separate from the capital and remitted the former to him although at the same time asking for more capital. ..... abroad and imported into british india the bench held that the ordinary presumption that money remitted from a foreign business and received in british india by an assessee is out of profits and not out of capital is one which can be rebutted by the assessee, and in the particular case their lordship held that the presumption to have been amply and adequately rebutted by the entire is in the books of the account of the assessee himself and by the manner in which the accounts had .....
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