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Commissioner of Income-tax, Gujarat Vs. Gautam Sarabhai

Court : Gujarat

Reported in : [1981]129ITR133(Guj)

majmudar, j. 1. the income-tax appellate tribunal, ahmedabad bench 'b', has referred, at the instance of the revenue, the following two questions of law for our opinion under s. 256(1) of the i. t. act, 1961 : '1. whether the capital loss brought forward has to be set off against the capital gains if related to capital assets other than short-term capital assets ..... whatever source derived...' chapter iv of the act deals with the computation of total income and lays down various heads of income. it provides : 'save as otherwise provided by this act, all income shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income : a-salaries. b-interest on securities. c-income from house property. d-profits and gains .....

Ahmedabad Manufacturing and Calico Printing Co. Ltd. Vs. A.V. Joshi, I ...

Court : Gujarat

Reported in : [1979]118ITR544(Guj)

..... the set of provisions in the i.t. act, 1961, which provide for what is known as 'tax holiday'. with a view to encourage establishment of new undertakings right from the time of the indian income-tax act, 1922 (hereinafter referred to as the '1922 act'), provisions have been enacted in income-tax legislation regarding encouragement to be given to the establishment ..... the purpose of deduction under s. 80j of the i.t. act, 1961, the profits and gains of a new industrial undertaking must be computed in accordance with the provisions of the act in the same manner as they would be in determining the total income chargeable to tax and it must follow a fortiori that if the losses, depreciation ..... judgment, the scheme of s. 15c of the 1922 act and s. 84 of the 1961 act was the same. bhagwati j., speaking for the bench of three judges of the supreme court in rajapalayam mills' case : [1978]115itr777(sc) of the report : 'the law of income-tax in a modern society is intended to achieve various social .....

Commissioner of Income-tax Vs. Ganga Charity Trust Fund

Court : Gujarat

Reported in : (1986)53CTR(Guj)365; [1986]162ITR612(Guj)

..... of rs. 76,972 by way of deduction as an amount applied for charitable purposes under section 11(1)(a) of the income-tax act, 1961 (hereinafter called 'thejact'). in that year, the assessee was following the mercantile system of accounting. the income-tax officer refused the deduction whereupon the assessee carried the matter in appeal before the appellate assistant commissioner. the appellate assistant commissioner confirmed ..... as under : '(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that income-tax liability for an amount of rs. 76,972 should be allowed as deduction under section 11(1)(a) of the income-tax act, 1961 and (2) whether the finding of the tribunal that in order to give meaning to the .....

Chhotalal and Co. Vs. Income-tax Officer, Morvi and ors.

Court : Gujarat

Reported in : [1976]105ITR230(Guj)

..... under section 144 best judgment assessment can be made but as the law stood at the relevant time, there was no provision in the income-tax act, 1961, by which penal interest could be levied by the income-tax officer in such cases of non-filing of returns. it may be pointed out that with effect from april 1, 1971, as a ..... divan, c.j.1. some questions of law regarding some of the sections of the income-tax act, 1961, hereinafter referred to as 'the act', are involved in these three petitions and, therefore, we will dispose of the three special civil applications by this common judgment. the petitioner is special civil application ..... in paragraph 10 of its judgment the gauhati high court has pointed out : 'it is obvious that registered firms are entitled to certain privileges under the provisions of the income-tax act vis-a-vis other assessable entities. there is, therefore, a reasonable classification in placing them in one group subjecting them to certain liabilities in the case of some .....

Commissioner of Income-tax Vs. Harsiddh Specific Family Trust

Court : Gujarat

..... and in the circumstances of the case, the appellate tribunal has erred in law in deleting the addition made by the assessing officer under section 32b(6) of the income-tax act, 1961?" tax appeal no. 454 of 2000 "1. whether on the facts and in the circumstances of the case, the appellate tribunal has substantially erred in law in deleting the ..... manufacturing detergent. so far as tax appeal nos. 378/2002, 454/2000, 480/2006, 481/2006, 1169 and ..... made as per the provisions of section 32ab(6) of the act ?" tax appeal no. 1170 of 2006 "whether the tribunal is right in law and on facts in confirming the order passed by cit(a) deleting the addition of rs. 12,59,626/- made under section 32a(6) of the income-tax act, 1961 ?" 2. the assessee firm is engaged in the business of .....

Ganesh Chhababhai Vallabhai Patel Vs. Cit

Court : Gujarat

Reported in : (2002)175CTR(Guj)498

..... ' has referred the following question for the opinion of the high court under section 256(1) of the income tax act, 1961 :'whether, on the facts and in the circumstances of the case, the income tax officer was justified in passing order under section 154 of the income tax act, 1961 ?'2. the matter pertains to assessment year 1980-81 in respect of which the assessment of the assessee family ..... the respective one-third shares of each son was to be paid to him. the question was whether the income from the trust could be included in the total income of the assessee (who had executed the deeds) under section 64(v) of the income tax act, 1961. the supreme court held that the specific provision of law under section 64(v) as it stood before .....

Jai Hind Printing Press Vs. Commissioner of Income-tax, Gujarat-i

Court : Gujarat

Reported in : [1972]86ITR309(Guj)

..... tribunal referred the following question, namely : 'whether, on the facts and in the circumstances of the case, proceedings for reassessment under section 147(a) of the income-tax act, 1961, were validly initiated ?' for the opinion of this court. 2. now it is clear on a plain reading of section 147(a) that to confer jurisdiction ..... reference raises a short question as to whether certain proceedings initiated by the revenue for reassessment of the assessment are valid under section 147(a) of the income-tax act, 1961. the assessment year with which we are concerned in this reference is 1957-58, the relevant precious year being samvat year 2012, that is, 15th november ..... the capital gain of rs. 25,450 had escaped tax at the time of the original assessment and the income-tax officer, therefore, issued notice to the assessee seeking to reopen the assessment for the assessment year 1957-58 under section 147(a) of the income-tax act, 1961. the assessee contested the validity of the proceedings for .....

Commissioner of Income-tax, Gujrat Vs. Kohinoor Flour Mills

Court : Gujarat

Reported in : [1975]99ITR54(Guj)

..... which has been referred to us, has caused us considerable anxiety in determining the true scope and effect of section 273(b) read with section 273(ii) of the income-tax act, 1961. in order to understand the scheme of the penalty prescribed by section 273(b), we have been required to consider sections 217, 215, 212 and 211. the relevant ..... b.k. mehta j.1. a short but interesting question arises about the date as on which penalty under section 273(b) read with section 273(ii) of the income-tax act, 1961, may be levied. the dispute arises out of the following question which has been referred to us for opinion : 'whether, on the facts and in the circumstances on ..... . 1,83,000 paid by the assessee on march 26, 1965, should be treated as valid advance tax and should be deducted from 75% of the tax determined for arriving at the basis for imposing the penalty under section 273(b) of the income-tax act, 1961 ?' 2. shortly stated the facts leading to this reference are as under : 3. the assessee is .....

Arabian Express Line Ltd. of United Kingdom and ors. Vs. Union of Indi ...

Court : Gujarat

Reported in : (1994)120CTR(Guj)377; [1995]212ITR31(Guj)

..... taxation avoidance agreement is not given by the assessing officers when they find that the provisions of the agreement are not in conformity with the provisions of the income-tax act, 1961. to avoid such a situation, the board clarified that - (a) the correct legal position is that where a specific provision is made in the double ..... and northern ireland for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital gains executed under section 90 of the income-tax act, 1961. in support of that, it is pointed out that the assistant commissioner of income-tax, company circle, calcutta, has issued a certificate dated june 18, 1993 (annexure 'k'), ..... taxation avoidance agreement, that provision will prevail over the general provisions contained in the income-tax act, 1961, and that as per the agreement, the law in force in either country will continue to govern the assessment and taxation of .....

Commissioner of Income-tax, Gujarat Iii Vs. Arvind Narottam Lalbhai Da ...

Court : Gujarat

Reported in : [1976]105ITR378(Guj)

..... . this property, 3, gun foundry road, was not in the occupation of a tenant within the meaning of those words in the proviso to section 23 if the income-tax act, 1961. we have already discussed the finding on record that the property was not let at the relevant time. that finding binds us. besides, the facts show, as we ..... of the capital gains, the fair market value as on january 1, 1954, of rs. 670 per share should be substituted as cost under section 55(2) of the income-tax act, 1961. ultimately, what the assessee was claiming was that the market value of 620 shares at rs. 670 per share as on january 1, 1954, was rs. 4,15 ..... in order to appreciate the rival contentions it is necessary to set out in verbatim the provisions of sections 22 and 23 of the income-tax act, 1961, since they relate to income from house property. under section 22, income from house property is to be calculated in the following manner : 'the annual value of property consisting of any buildings or lands appurtenant .....