Court : Chennai
Reported in : (1980)17CTR(Mad)301; [1980]124ITR85(Mad)
..... the following background is given as and by way of explanation to the introduction of the provisions under the finance act:'13. under the existing provisions of the income-tax act, receipts which are of a casual and non-recurring nature are exempt from tax except where the receipts constitute capital gains or arise from a business or the exercise of profession, vocation or ..... would normally be taxable to winnings from lotteries, races, card games, etc. the bill seeks to make the following amendments to the income-tax act with a view to withdrawing the exemption currently available in respect of casual and non-recurring receipts. '23. prior to this amendment, the persons who had this kind ..... sethuraman, j.1. the appellate tribunal has referred the following question at the instance of the commissioner under section 256(1) of the i.t. act, 1961:'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the total sum of rs. 22,000 received by .....
Tag this Judgment!Court : Chennai
Reported in : [1998]230ITR663(Mad)
..... firm constituted under an instrument of partnership specifying the individual shares of the partners, for registration for the purposes of this act, and of any other enactment for the time being in force relating to agricultural income-tax. (2) the application shall be made by such persons and at such times and shall contain such particulars and ..... sub-s. (7) provides that while permission granted under s. 65(5) is in force, the provisions of the act regarding the submission of the returns, accounts or other documents pertaining to the assessment to agricultural income-tax, or any other matter incidental thereto, shall not apply in relation to the grantee. sub-s. (8) permits the ..... decrease or increase in holding of the land of the assessee who has availed the benefit of composition. 12. the schedule to the act in part i sets out the rates of the agricultural income-tax. part ii sets out the rate at which the composition fee is to be paid. these schedules were substituted by the amending .....
Tag this Judgment!Court : Chennai
Reported in : [1980]124ITR153(Mad)
..... transaction evidenced by document dated september 21, 1963, is a transfer without consideration and the income arising from properties transferred can be included in the computation of the total income of the assessee under section 64(iv) of the income-tax act for the assessment years 1964-65 to 1967-68 ?'3. the tribunal has extracted section ..... from the properties transferred to the minor daughter of the assessee was included in the computation of the total income of the assessee by invoking section 64(iv) of the i.t. act, 1961. the assessee objected to the same and, against the order of the ito, an appeal was preferred to the aac contending, ( ..... consequently since the properties were transferred without adequate consideration, the income arising therefrom was rightly included in the income of the assessee under section 64(iv) of the i.t. act, 1961. on an application made by the assessee under section 256(1) of the i.t. act, 1961, the tribunal has referred the following question of law .....
Tag this Judgment!Court : Chennai
Reported in : AIR1954Mad1049; [1954]26ITR99(Mad)
..... so as to empower this court to interfere by quashing the proceedings by issuing a writ as prayed for. the requirements, in our opinion, of section 63, income-tax act, were amply satisfied in the present case by the notice of demand served upon gannu rao. since the liability of the several partners is joint and several under ..... , by virtue of the provisions of section 44, the assess-ment could be made as if it were an undissolved firm. under the provisions of section 63, income-tax act, notice under section 13 may be issued to and served on a partner of a firm. section 63 (2) says that'any such notice or requisition in ..... a partnership carrying on business in the chargeable accounting period, the assessment may be made in the partnership name.section 21, excess profits tax act, applies certain sections of the income-tax act to proceedings under the excess profits tax act, but subject, however, to any modification that may be made by the rules under the rule-making power conferred under the .....
Tag this Judgment!Court : Chennai
Reported in : [2000]244ITR266(Mad)
..... .3. the petitioner filed a revision petition before the commissioner of income-tax under section 264 of the income-tax act, seeking cancellation of the order of penalty levied under section 271e of the income-tax act. the commissioner of income-tax ..... of rs. 50,000. the deputy commissioner of income-tax was of the view that there was a violation of the provisions of section 269t of the income-tax act, 1961, and levied penalty of rs. 96,690 under section 271e of the income-tax act, after giving the petitioner an opportunity to be heard ..... , held that the petitioner has committed default under section 269t of the income-tax act and confirmed the penalty levied by the deputy commissioner of income-tax.the writ petitioner has challenged the order of the commissioner of income-tax, madras, in the present writ petition on the score that the breach .....
Tag this Judgment!Court : Chennai
Reported in : (2001)170CTR(Mad)238; [2001]251ITR53(Mad)
..... technical services from the provider of the internet service, and such subscriber regarded as being obliged to deduct tax at source on the payment made to the internet service provider. 17. at the time the income-tax act was enacted in the year 1961, as also at the time when explanation 2 to section 9(1)(vii) was introduced by the ..... finance (no. 2) act, with effect from april 1, 1977, the products of technology had not been in such ..... within the definition of 'fees for technical services' in section 194j read with section 9(1)(vii), explanation 2 of the income-tax act and require the firms and companies subscribing to the petitioners' network, to deduct tax at source on the payments made by them to the petitioners. 2. the petitioners have averred that they have established the .....
Tag this Judgment!Court : Chennai
Reported in : (1980)14CTR(Mad)277; [1979]120ITR211(Mad)
..... the expenditure was not also of a personal nature. at page 194, it was observed as follows:'in this connection, it is pertinent to note that what the act purports to tax is agricultural income and not agricultural receipts. from the agricultural receipts must be deducted all expenses which in ordinary commercial accounting must be debited against the receipts. there is nothing in ..... -matter of the appeal before the supreme court.section 5(e) of the madras plantations agrl. i.t. act corresponded to section 10(2)(xv) of the indian i.t. act of 1922, which itself corresponds to section 37 of the i.t. act of 1961 and permitted the allowance of expenditure incurred wholly and exclusively for the purpose of the plantation. section 5 .....
Tag this Judgment!Court : Chennai
Reported in : [1997]227ITR701(Mad)
..... of any extinguishment of the firm's rights in the partnership assets amounting to a transfer of assets within the meaning of section 2(47) of the income-tax act, 1961. there is no transfer of assets involved even in the sense of any extinguishment of the firm's rights in the partnership assets when distribution takes place ..... court, while considering the provisions of sections 45, 54(i) and 114 of the income-tax act, 1961, section 2 of the finance (no. 2) act, 1967, and section. 14 of the indian partnership act, 1932, held (headnote) : 'that for purposes of assessment to tax, the income-tax act treats a registered firm as an entity distinct from the partners. under the specific provisions ..... . this view was taken by this court while considering the provisions of sections 41(2), 45, 47(iii) and 52 of the income-tax act, 1961, and sections 2(xviii) and 4 of the gift-tax act, 1958. in the same decision, this court also pointed out that the legal fictions are only for a definite purpose. they are .....
Tag this Judgment!Court : Chennai
Reported in : [1999]240ITR660(Mad)
..... these references is as to the scope of the 'record' occurring in section 154 of the income-tax act, 1961. that section reads as under :'154. rectification of mistake.--(1) with a view to rectifying any mistake apparent from the record- (a) the income-tax officer may amend any order of assessment or of refund or any other order passed by him ..... the assessing officer and the question as to 'whether the adjustment so effected is a mistake apparent from the record within the meaning of section 154 of the income-tax act' has been referred to us for our opinion, at the instance of the assessee.5. consequent to the adjustment of the unabsorbed depreciation against the capital ..... court in the case of anglo dutch paint, colour and varnish works pvt. ltd. v. cit : [1986]157itr614(delhi) , wherein the delhi high court in a case arising under the indian income-tax act, 1922, held that section 35 of that act did not apply to a case where in consequence of the reassessment for a particular assessment year .....
Tag this Judgment!Court : Chennai
Reported in : [1999]239ITR142(Mad)
..... facts and in the circumstances of the case, the tribunal was right in disallowing the depreciation claimed in respect of building under the provisions of section 32 of the income-tax act, 1961 ?2. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the compensation of rs. 1 lakh paid to ..... him after complying with the requirements of law such as the transfer of property act, the registration act, etc., but in the context of section 22 of the income-tax act, 1961, having regard to the ground realities and further having regard to the object of the income-tax act, to tax the income, the court was of the view that 'owner' is a person who is ..... high court relied upon the decision of the apex court in the case of r.b. jodha mal kuthiala v. cit : [1971]82itr570(sc) and held that in order to claim the benefit of section 32 of the income-tax act, 1961, it is not necessary that the assessee should be a complete owner. though in the ease of r.b. jodha .....
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