Court : Gujarat
Reported in : (1988)70CTR(Guj)185; [1988]172ITR698(Guj)
..... donation given by one charitable trust to another trust would be covered by the provisions of section 4(3) of the indian income-tax act, 1922, which is the forerunner of section 11 of the income-tax act, 1961. the calcutta high court, speaking through sabyasachi mukharji j., in terms, held that the assessee donor trust was entitled to ..... section 13(3) and explanation thereto and, hence, the assessee was not entitled to exemption under section 11 in vies of section 13(2)(h) of the income-tax act, 1961 ?' 2. it will be necessary to have a quick glance at the factual backdrop for understanding the controversy reflected by these questions. 3. the assessee in ..... assessee was entitled to exemption in view of section 11 of the income-tax act, 1961 ('the act' for short), as applicable at the relevant time. the commissioner of income-tax, however, felt otherwise and issue a notice under section 263 of the act as he noted that the income of the trust was utilised directly or indirectly for the benefit .....
Tag this Judgment!Court : Gujarat
Reported in : (1991)99CTR(Guj)161; [1992]193ITR614(Guj)
..... under the provisions of section 271(1)(c) read with the explanation thereto of the income-tax act, 1961 ?' 5. it was contended on behalf of the assessee that, no satisfaction was recorded by the income-tax officer before the issuance of the notice under section 271(1)(c) of the said act. it was pointed out that, in the assessment order dated january 19, 1973, the ..... june 30, 1969, for the assessment year 1969-70 declaring a total income of rs. 54,453. in the assessment order dated february 24, 1972, the income of the assessee was assessed at rs. 1,66,660 under section 143(3) of the income-tax act, 1961 (hereinafter referred to as 'the said act'). that order was set aside by the appellate assistant commissioner on september 13 .....
Tag this Judgment!Court : Gujarat
Reported in : (1988)71CTR(Guj)145; [1988]173ITR248(Guj)
..... in the course of the assessment for the assessment year 1973-74 was whether this dividend income of rs. 3,636 was exempt from payment of income-tax under section 11 of the income-tax act, 1961 ('the act' for short). the other questions which arose for consideration before the income-tax officer in the course of the assessment are not relevant for the purpose of the present reference. the ..... income-tax officer took the view to the effect that the provisions of section 13(2)(h) read with .....
Tag this Judgment!Court : Gujarat
Reported in : [2004]267ITR129(Guj)
..... applicable to the case of the respondent firm was not free from doubt, and it was not open to the income tax officer to go into the true scope of the provisions of the act in a rectification proceedings under section 154 of the income tax act, 1961 : the officer was wrong in holding that there was a mistake apparent from the record of assessments of the ..... petitions under article 226 of the constitution of india challenging the orders passed by the settlement commission, respondent no.2 herein, on 20.03.2003 under section 154 of the income tax act, 1961 withdrawing the reduction or waiver of interest granted by the settlement commission under section 234a, 234b and 234c of the .....
Tag this Judgment!Court : Gujarat
Reported in : [1993]199ITR67(Guj)
..... out of which the sum of rs. 27,06,593 represented the deemed profits under the fourth proviso to 10(2) (vii) of the indian income-tax act, 1922. the income-tax officer included the sum in the taxable income of the respondent for the assessment year 1949-50, on the ground that it became 'receivable' in the relevant calendar year, because the insurers accepted ..... the respondent's claim on december 13, 1948. the supreme court held that the fiction introduced by the proviso to 10(2) (vii) of the indian income-tax act, 1922, that a part of the insurance, salvage or compensation money received in respect of building, plant or machinery would be deemed to be profits of the previous year in ..... unconstitutional and invalid. as a result of this, the assessee-firm got a refund of the sum of rs. 42,263 in the year 1961 from the madhya pradesh government. the refund of the sum of rs. 42,263 was credited in the books of account of the assessee, who followed the mercantile system .....
Tag this Judgment!Court : Gujarat
Reported in : (1994)119CTR(Guj)269; [1994]207ITR175(Guj)
..... referred of the opinion of this court under section 256(1) of the income-tax act, 1961, the following questions : '1. whether the tribunal was justified in law in confirming the order of the commissioner to the effect that the assessment order passed by the income-tax officer was erroneous in so far as the same was prejudicial to the ..... deduction only on the net amount of its profits and gains, i.e., on income of its business otherwise computable in accordance with the provisions of the income-tax act for the purpose of charging income-tax thereon and which is included in its total income and not on the amount of its gross profits and gains of business. the ..... with respect to the amount of net profits and gains, i.e., income of its business otherwise computable according to the provisions of the income-tax act. it would thus appear that the tribunal was right in confirming the decision of the commissioner of income-tax holding that there had been an excess deduction under section 80p(2)(a)( .....
Tag this Judgment!Court : Gujarat
Reported in : [1987]165ITR195(Guj)
..... determination of the total income of an assessable entity and after such total income is ascertained, the income-tax which is to be ..... and in the circumstances of the case, the tribunal was right in holding that the respondent was not liable to pay tax on capital gains made by its under section 114 of the income-tax act, 1961 ?'2. the assessment years in question are 1963-64 and 1964-65. the assessee is a registered firm carrying on business ..... iv) the levy is to be on the total income of the assessable entity computed in accordance with and subject to the provisions of the 1961 act. 13. it is thus clear that under the general scheme of the act of 1961, the function of the permanent act, i.e. indian income-tax act, 1961, is to provide the guidelines for computation or .....
Tag this Judgment!Court : Gujarat
Reported in : (1993)114CTR(Guj)239; [1995]213ITR615(Guj)
..... , j.1. the following two question of law have been referred to his court for opinion by the tribunal, ahmedabad bench 'b', under section 256 of the income-tax act, 1961 ('the act') : '1. whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in holding that as the assessee had ..... made by the assessee's brother to his wife would not come within the mischief of section 64 of the income-tax act, 1961 2. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal has been right in law in confirming the order of the appellate assistant commissioner deleting the addition of rs ..... . 7,195 as income of the assessee under section 64 of the income-tax act, 1961 ?' 2. facts : the assessee, i.e., mehmoodmian a. topiwala, is being assessed in the status of an individual. this reference relates to the .....
Tag this Judgment!Court : Gujarat
Reported in : (1992)106CTR(Guj)218; [1993]201ITR451(Guj)
..... show cause as to why assessment for the assessment years under reference should not be rectified under section 154 of the income-tax act, 1961 ('the act' for short). the assessee resisted the proposed action of the income-tax after officer on the ground that the total income was correctly computed after setting off the losses and allowing statutory deductions, and, therefore, surcharge levied on the basis of ..... the rival contention, it is necessary to read the relevant provision contained in paragraph a of part i of the first schedule to the finance act, which are as follows : 'surcharges on income-tax : the amount of income-tax computed in accordance with the preceding provision of this paragraph shall be increased by the aggregate of surcharge for purposes of the union calculated as specified .....
Tag this Judgment!Court : Gujarat
Reported in : (1993)111CTR(Guj)16; [1993]203ITR186(Guj)
..... sides. learned counsel on both the sides made their submissions in full. 2. in this special civil application, the petitioner question the notice under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the alleged escaped assessment for the assessment year 1981-82. the impugned notice is dated november 12, 1992. two points are being urged by mr. j ..... made beyond the period of limitation, was not legal and valid. the appellate assistant commissioner accepted the contention of the assessee and annulled the assessment. thereafter, the income-tax officer initiated proceedings under section 147(b) of the income-tax act, 1961, and issued a notice under section 148 to the firm. in response to the notice, the assessee filed a return and contended before the .....
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