Court : Gujarat
Reported in : (1994)1GLR100
..... reported in : [1966]59itr666(sc) , the supreme court negatived the contention canvassed on behalf of the nizam of hyderabad that he had immunity from taxation under the income-tax act in view of the personal privileges given to him under articles 3 & 4 of the covenant. the supreme court held that, if during the assessment year an individual ..... is assessable to tax, the fact that during the previous year he was not liable to tax at all because there was no income-tax act in the area to which the act was extended or because that under an income-tax act in force therein during that year his income was exempted from tax or because of any other law, including ..... on behalf of the petitioner. in this connection, we may refer to the decision of the supreme court in sudhansusekhar v. state of orissa reported in air 1961 sc 196 in which the supreme court, in terms, held that the privileges guaranteed by articles 4 and 5 of the merger agreement executed by the ruler of .....
Tag this Judgment!Court : Gujarat
Reported in : [2005]144TAXMAN355(Guj)
..... plain reading of the provisions of the act it is apparent that the filing of the wealth-tax return is dependent on filing of the income-tax return, or at least the provisions of the income tax act have some bearing. it is settled legal position that liability to pay tax under the income tax act is a permissible deduction while computing net wealth ..... of an assessee on the valuation date, and such liability is ascertainable only on the date when the income-tax return is ..... 'valuation date' to mean the last day of the previous year as defined in section 3 of the income tax act. the definition of 'net wealth' as appearing in section 2(m) of the act means the amount by which the aggregate value of all the assets belonging to assessee on the valuation date exceeds the .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]107ITR489(Guj)
..... other reserves in so far as the amounts credited to such other reserves have not been allowed in computing its profits for the purposes of the indian income-tax act, 1922, or the income-tax act, 1961'. the standard deduction as shown in the definition section 2, sub-section (9), is to be calculated on the basis of six per cent, of ..... ) its other reserves as reduced by the amounts credited to such reserves as have been allowed as a deduction in computing the income of the company for the purposes of the indian income-tax act, 1922, or the income-tax act, 1961; (iv) its debentures, if any; and (v) any moneys borrowed by it from government or the industrial finance corporation of ..... if any, created under the proviso (b) to clause (vib) of sub-section (2) of section 10 of the indian income-tax act, 1922, or under sub-section (3) of section 34 of the income-tax act, 1961, and of its other reserves in so far as the amounts credited to such other reserves have not been allowed in computing its .....
Tag this Judgment!Court : Gujarat
Reported in : (2002)177CTR(Guj)508
..... for the assessee has relied on the decisions of the apex court interpreting the expression 'pending appeals' in the cases under the industrial disputes act and under the indian income tax act, 1922, and the income tax act, 1961, and the decisions interpreting the expression 'pending proceedings'.12.1. in raja kulkarni v. state of bombay (supra), the controversy arose in ..... petitioner on the amounts as ascertained under the kvss at the rate/s applicable to the outstanding dues payable by the assessee under the provisions of the income tax act, 1961/wealth tax act, 1957, as the case may be, for the period from 9-3-1999, to 9-9-2002, and also requiring the petitioner to pay interest ..... in force, the amount payable under this scheme by the declarant shall be determined at the rates specified hereunder, namely :(a) where the tax arrear is payable under the income tax act, 1961 (43 of 1961),(i) .........(ii) in the case of a declarant, being a person other than a company or a firm, at the rate of .....
Tag this Judgment!Court : Gujarat
Reported in : (2006)204CTR(Guj)441; [2008]296ITR577(Guj)
..... the petitioner had submitted a `nil' estimate of advance tax under section 210 of the income tax act, 1961 (the act) on 11th september, 1987. subsequently, on 15th march 1988, the assessee submitted revised estimate of income of rs. 2,10,00,000/- and paid advance tax of rs. 92,90,000/- thereon. thereafter, on ..... 28th march 1988, the petitioner submitted another revised estimate of income of rs. 3,43,50,000/- and paid the differential amount of advance tax ..... officer framed assessment under section 143(3) of the act on 30th january 1991 computing refund at rs. 79,265/-. the petitioner carried the matter in appeal before the commissioner of income tax (appeals) [cit (appeals)]. consequent to the order of the cit (appeals), the petitioner became entitled to a further refund .....
Tag this Judgment!Court : Gujarat
Reported in : (1994)121CTR(Guj)160; [1995]217ITR232(Guj)
..... j. - in all these petitions, the petitioners applied to the commissioner of income-tax under section 273a of the income-tax act, 1961, for waiver or reduction of penalty and interest which had become payable by the petitioner because of late filing of the returns and late payment of tax. as the point which arises for consideration is the same, they are all ..... 3269 of 1984, the commissioner thought it fit to reduce the interest amount by 50 per cent. only on the ground that the petitioners had not filed income-tax returns for three to four yeas continuously. 3. what is submitted by learned counsel is that the conditions for the waiver of penalty and interest being the ..... a), (b) and (c), co-operated in any enquiry relating to the assessment of his income and has either paid or made satisfactory arrangements for the payment of any tax or interest payable in consequence of an order passed under this act in respect of the relevant assessment year.' 4. there is no dispute that these are cases .....
Tag this Judgment!Court : Gujarat
Reported in : [2007]136CompCas399(Guj); (2007)210CTR(Guj)445; [2007]290ITR643(Guj)
..... 530(5) of the companies act, an order under section 178 for income tax dues would have preference over other unsecured creditors set ..... is in that context, considering the provisions of section 178 of the act, the hon'ble supreme court held that if an order was passed under section 178 of the income tax act,1961 bearing in mind that the amendment was brought by the income tax act, 1961 and considering the equality amongst the creditors as set out in section ..... limited (in liquidation) to make payment of the outstanding demand of the income tax department, treating it to be a creditor of the company in liquidation, as per the provisions of section 178(2) of the income tax act, 1961 (hereinafter referred to as the act). by way of an amendment, the applicant has amended the prayer .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)190CTR(Guj)414; [2004]270ITR408(Guj)
..... kalpagam : [1997]227itr733(mad) . however, those principles were laid down in the context of the expression 'land appurtenant thereto' in section 54 of the income-tax act, 1961 granting a concession where capital gains arise from the transfer of buildings or lands appurtenant thereto used by the assessee as his own or his parent's residence, ..... order dated 19.3.1999 dismissed the four appeals under the wealth-tax act as well as the appeal under the gift-tax act.3.7 the assessee challenged the orders in the appeals under the wealth-tax act in wealth-tax appeal nos.55 to 58 of 1999 before the income-tax appellate tribunal. after hearing the learned counsel for the appellant and ..... m.s. shah, j.1. these four appeals are filed by the assessee under section 27a of the wealth-tax act, 1957 against the judgment and order dated 9.1.2001 passed by the income-tax appellate tribunal, ahmedabad in wealth-tax appeal nos. 55 to 58 of 1999 for assessment years 1991-92 to 1994-95. since the appeals involve .....
Tag this Judgment!Court : Gujarat
Reported in : (1964)0GLR746; [1965]56ITR621(Guj)
..... this case, section 5(1) was not struck down as void on a comparison of its provisions with those of section 34(1) of the indian income-tax act as was done in the case of section 5(4) in suraj mall mohta's case. by the time this petition came to be heard by this ..... single judgment. certain notices were issued against the petitioners by the income-tax officer, special circle, ahmedabad, on 31st january, 1962, under section 34(1)(a) of the income-tax act, 1922. the reason for issuing the notices was that, according to income-tax officer, the following income of each petitioner had escaped assessment in the assessment year mentioned against ..... the respective incomes by reason of the omission or failure to disclose fully and truly all .....
Tag this Judgment!Court : Gujarat
Reported in : (1971)12GLR171
..... bombay, being the second respondent before us, as he had received a notice from the second respondent under section 226(3) of the income-tax act, 1961, requiring him to pay the balance of rs. 5,700/- against the tax dues of messrs. swarupchand prithviraj and company. the first respondent therefore paid rs. 5,700/- into the state bank of saurashtra as ..... petitioner in support of his claim was that the assessment of the gondal firm having been made subsequent to its dissolution under section 44 of the income-tax act, 1922, the liability of the partners to pay the tax assessed was joint and several and, therefore, when the petitioner paid the said sum of rs. 11,400/- to the ..... the gondal firm. the result was that the aggregate sum of rs. 11,400/- paid by the petitioner became refundable. the petitioner addressed several letters to the income-tax officer claiming refund of the said sum of rs. 11,400/- but no refund was made to the petitioner until 27th june 1967 when the first respondent who .....
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