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Commissioner of Income-tax Vs. Andhra Cotton Mills Ltd.

Court : Andhra Pradesh

Reported in : (1996)133CTR(AP)398; [1997]228ITR30(AP)

..... parvatha rao, j.this is a reference made at the instance of the revenue under sub-section (1) of section 256 of the income-tax act, 1961 (for short 'the act'). ..... having said so, the court then observed that in order to claim depreciation, the assessee must furnish the requisite particulars as prescribed by the income-tax act and the rules made thereunder; and in the absence of such particulars the assessee could not avail of, nor, indeed, could he be entitled to depreciation. ..... this is an odd case where the assessee questions the deductions in respect of depreciation allowed by the income-tax officer under section 32 of the act for the two assessment years 1980-81 and 1981-82 on the ground that it did not raise any claim for such deductions in its returns for those two years. ..... (all) , a division bench of the allahabad high court held that there was no requirement in section 34 of the act that the prescribed particulars must be furnished in a particular document, and that merely because the form of the return provided for a place where the statement of such particulars should be set out, it did not mean that in the absence of such statement, the income-tax officer had no power to allow depreciation, if, in the course of assessment proceedings, he came to know ..... we may observe that sub-section (1) of section 34 was omitted by the taxation laws (amendment and miscellaneous provisions) act, 1988, with effect from april 1, 1988. ..... [1989] 122 itr 9. .....

Commissioner of Income Tax Vs. T.V. Sundaram Iyengar and Sons Pvt. Ltd ...

Court : Chennai

Reported in : (1998)148CTR(Mad)567

..... the it act, 1961, as there is no other provision in the act which creates a charge for tax on such ..... for and pay and discharge all levies, taxes and public charges whatsoever including income-tax and sales-tax due to any government or public authority.3 ..... submitted that as no liability had accrued for the amalgamating company, the amalgamated company cannot be made to suffer a tax liability for payment of which was not taken over by it and the tax demanded was not in respect of profits and gains of the amalgamated company but related to those of the amalgamating company ..... an order of assessment and that the liability for payment of levy under that section arises only after the ito makes an order and not at any earlier point ..... came to be made after the order of amalgamation and after the dissolution of the amalgamating company but on account of acts of omission and commission committed by the amalgamating company and its failure to carry out the obligation which were required ..... sent to the amalgamated company which resisted the same on the ground that the amalgamating company which had failed to distribute the statutory percentage of its distributable income was no longer in existence and therefore, no proceedings against a non-distingue company could be initiated or continued. ..... any point of time prior to the making of an order therein in accordance with the requirements of that section.7. ..... dispute that the order was made within the period of limitation prescribed under the section.2. .....

Parasnath Granite India Ltd. Vs. State of Rajasthan and anr.

Court : Rajasthan

Reported in : RLW2004(4)Raj2424; [2006]144STC271(Raj); 2004(5)WLC331

..... while repealing indian income tax act, 1922 under section 297(1) of the income tax act, 1961, certain transitory provisions were made in sub-section (2) of section 297 for the proceedings relating to assessment year completed on or before 31.3.1962, which fell otherwise within the act of 1922. ..... patel (31), is also relating to imposition of penalty under section 271(1)(a) of the income tax act, 1961, and follows the principle laid in gujarat travancore agency's case (supra).123. ..... it was a case where the question arose about the penalty leviable under section 271(1)(a) of the income tax act, 1961 which provided penalty for delayed furnishing of return without reasonable cause, where there was an obligation to pay tax as was due as per return. ..... similarly, the levy of penalty for late filing of return which was found to be compensatory in nature was held to be absolute in gujarat travancore's case (supra); and another decisions under section 271(1)(a) of the income tax act, 1961. ..... jain case, clause (a) of section 271(1)(a) itself was omitted w.e.f. ..... the defence for offence was provided in the statute itself, hence, it was not essential to search the defences in common law.122. ..... 122 dated 31.10.90 with regard to 50.31 sq. .....

Major V.P. Singh and Others Vs. State of U.P. and Others

Court : Supreme Court of India

Reported in : AIR1991SC1502; [1993]199ITR188(SC); JT1991(3)SC14; 1991Supp(2)SCC346

..... this being a gift, reference has been made to section 122 of the transfer of property act where gift has been defined as under :'gift' is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on ..... of income-tax, bombay city i : [1961]42itr1(sc) shows that the words 'adequate consideration' were held to denote consideration other than mere love and affection which, in the case of a wife, may be presumed. ..... jain wanted us to accept his submission that these cases related to tax aspects and the meaning ascribed to the term in tax law should not be introduced into the present matters. ..... section 5(6) of the act categorically provides that any transfer of land after that date would be inoperative, if in the absence of transfer, that land in the hands of the transferor, would have been subjected to the provision of the act. ..... these appeals by special leave are directed against the decision of the allahabad high court in writ petitions arising out of proceedings under the uttar pradesh imposition of ceiling on land holdings act, 1960, as amended subsequently. ..... of wealth-tax, andhra pradesh v. ..... 'adequate consideration' has not been defined by the act and, therefore, the high court has relied upon the concept of gift in the transfer of property act. .....

Dcit Vs. S.G. Investments and Industries

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD44(Kol.)

..... the context in which it is used.it can also be gathered from the memorandum explaining the provisions of section 14a stating that in the absence of any such provision like that of section 14a the expenditure incurred in respect of exempt income was being claimed against taxable income though the legislature had no such intention since the inception of the income-tax act, 1961.the amendment by inserting section 14a was thus made retrospective with effect from 1-4-1962, and the legislature has ..... stopped in and declared that the expenditure incurred in relation to exempt income shall not be allowed for the purpose of ..... we find it appropriate at this stage to make a useful reference to section 80a, 80aa (omitted w.e.f. ..... (1980) 122 itr 767 (cal) wherein it was held- "that though the ultimate or ulterior motive of the assessee might have been to confer controlling interest either to itself or to nk and tk, the immediate purpose for acquisition of the shares was to earn income for the dividends thereof and the tribunal was, therefore, right in holding that the interest was deductible under section 57 against its income from other .....

Merchants' Loan and Trust Co. Vs. Smietanka

Court : US Supreme Court

..... howbert, supra, arising under the corporation excise tax act of 1909, with the addition that it should include "profit gained through sale or conversion of capital assets," there would seem to be no room to doubt that the word must be given the same meaning in all of the income tax acts of congress that was given to it in the corporation excise tax act, and that what that meaning is has now become definitely settled by ..... 519 case at bar if the word "income" has the same meaning in the income tax act of 1913 that it had in the corporation excise tax act of 1909, and that it has the same scope of meaning was in effect decided in ..... the use made of this definition of "income" in the decision of cases arising under the corporation excise tax act of august 5, 1909, and under the income tax acts, is, we think, decisive of the ..... supra, a case arising under the same income tax act of 1916 which is here involved, the definition of "income" which was applied was adopted from stratton's ..... 509, 553, declared unconstitutional on an unrelated ground; that it was not recognized in determining income under the excise tax act of 1909, as the cases cited supra show; that it is not to be found, in terms, in any of the income tax provisions of the internal revenue acts of 1913, 1916, 1917, or 1919; that the definition of the word "income" as used in the sixteenth amendment, which has been developed by this court, does not recognize any such distinction; that, in ..... section 2(a) of the act of september .....

Weston Vs. City Council of Charleston

Court : US Supreme Court

..... opinion of the minority of the state court, which has been submitted to us by the appellants' counsel as a part of his argument, it is said "this ordinance does not affect to regard the tax as an income tax. ..... were applicable to those judgments and decrees only in which the right was finally decided, and could never again be litigated between the parties, the provisions of the section would be confined within much narrower limits than the words import, or than congress could have intended. ..... "final judgment" in the 25th section of the judiciary act must be understood in the section under consideration as applying to all judgments and decrees which determine the particular cause, and it is not required that such judgments shall finally decide upon the rights which are litigated, that the same shall be within purview of the section. ..... comes before us under the 25th section of the judiciary act of 1789 page 27 u. s. ..... question has been raised whether this court has jurisdiction of the case, under the 25th section of the judiciary act. ..... first point, i am of opinion that the cause is not one within either the letter or the policy of the 25th section of the judiciary act. ..... also that it was a final judgment in the sense in which that term is used in the 25th section of the judicial act. ..... of this court to revise the judgments of a state tribunal depends on the 25th section of the judicial act. ..... of this court to revise the judgments of state tribunals, depends on the 25th section of the judiciary act. .....

Peter Vs. Beverly

Court : US Supreme Court

..... and ramsay, who always spoke of the estate as liable to the banks, and he exhibits numerous letters from beverly showing his knowledge of and acquiescence in it, and shows that said beverly was, for a considerable time, acting as agent for the estate, under the authority of the executors, and paying discounts on these substituted notes to the banks out of the rents of the estate, and sometimes from partial sales of lots, and at other ..... in making the statement now submitted, the auditor has omitted the charges made by the executors, and for which they obtained credit in their settlement with that court for payments stated to have been by them made to the bank of columbia and the union bank of ..... the $4,552 mentioned in the third exception was properly omitted in the statement of the account against the executor. ..... he exhibits statements with his answer, showing what, upon the lowest estimates, must have been the annual expenses for maintaining the family and educating the children, and what was the annual income of the estate, showing its great inadequacy to meet those objects. ..... he knows that great expenses were incurred in this way; that the family continued to be supported in the way they had been accustomed to live; and that the income of the estate, which had greatly diminished, must have been insufficient for these purposes; that rents had greatly fallen, and most of the city property was unproductive, and the taxes were considerable. ..... 540 omitted. .....

Charles River Bridge Vs. Warren Bridge

Court : US Supreme Court

..... another bridge in the place proposed for the west boston bridge might diminish the emoluments of charles river bridge; therefore, for the encouragement of enterprise, the eighth section of the act declared "that the proprietors of the charles river bridge shall continue to be a corporation and body politic for and during the term of seventy years, to ..... it briefly, another argument strongly pressed at the bar against the plaintiffs, and that is that the extension of the term of the franchise of the plaintiffs for thirty years, by the act of 1792 (erecting the west boston bridge, between boston and cambridge), and the acceptance thereof by the plaintiffs, amounted to a surrender or extinguishment of their exclusive franchise, if they ever had any ..... section of the act provided "that after the said toll shall commence, the said proprietors or corporation shall annually pay to harvard college or university the sum of two hundred pounds during the said term of forty years, and at the end of the said term, the said bridge shall revert to, and be the property of, the commonwealth, saving to the said college or university, a reasonable and annual compensation for the annual income ..... preserving, undiminished, the power then in question; and whenever any power of the state is said to be surrendered or diminished, whether it be the taxing power or any other affecting the public interest, the same principle applies, and the rule of construction must be the same. ..... this be omitted, and the ..... 122 .....

Armstrong Vs. Treasurer of Athens County,

Court : US Supreme Court

..... the corporation to sell, as an individual might sell, and the respective purchasers took title as from an individual; they were strangers to the act of 1804, with the exception of those provided for by the third section of the act 1826, the value of whose lands was to be governed by the assessment of their rents under the former act, and who were entitled to have deeds in fee on the payment of $100 for every six dollars of annual rent assessed upon ..... of the supreme court of ohio was the following certificate: "i do hereby certify that in the above-named case there was drawn in question the validity of the statute of the state of ohio, passed on 21 march 1840, entitled 'an act to amend the act authorizing the trustees of the ohio university to dispose of certain lands,' passed july 4, 1826, on the ground that it was repugnant to the constitution of the united states, and page 41 u. s. ..... by the 17th section of the act of the assembly of ohio passed february, 1804, entitled, "an act establishing a university in the town of athens," it is declared "that the lands in the two townships aforesaid, with the buildings which are or may be erected thereon, shall be forever exempt from all state taxes. ..... the lands not leased continued exempt from taxation on the fair supposition that they brought no income, and could bear no burdens. ..... the lands brought no income, and could bear no tax, in their uncultivated condition, until they passed into the hands of private individuals. .....