Court : Gujarat
Reported in : (1993)110CTR(Guj)305; [1993]201ITR464(Guj)
..... rejected the claim of the assessee for deduction of rs. 2,87,096 under section 36 and also under section 57(iii) of the income-tax act, 1961.4. the assessee preferred an appeal to the appellate assistant commissioner. the appellate assistant commissioner was of the view that payment of interest was an integral part of the purchase ..... tribunal, ahmedabad bench, has referred the following question under section 256(1) of the income-tax act, 1961, for the opinion of this court :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in confirming disallowance of interest of rs. ..... , therefore, be said to be laid out or expended exclusively for the purpose of making or earning such income within the meaning of sub-clause (iii) of section 57 of the act or under the corresponding provisions of section 10(2)(xv) of the indian income-tax act, 1922.'8. from the decisions referred to above, it can be said that the connection between the .....
Tag this Judgment!Court : Gujarat
Reported in : (2006)201CTR(Guj)102; [2006]285ITR67(Guj)
..... tribunal, ahmedabad bench 'b', has referred the following questions under section 256(2) of the income tax act, 1961 (the act) at the instance of the commissioner of income tax, ahmedabad:for assessment year 1982-83:1.whether, the appellate tribunal is right in law and on facts in deleting the addition of rs. 1,33, ..... machine and tread mill machine in the hospital ?3. whether the income-tax appellate tribunal is right in law and on facts in directing the ito to allow additional ..... service rendered as physician by the assessee ?2. whether, the income-tax appellate tribunal is right in law and on facts in holding that the intensive coronary care unit is a small scale industrial undertaking within the meaning of section 32a of the i.t. act 1961 and directing the ito to allow investment allowance on the heart monitoring .....
Tag this Judgment!Court : Gujarat
Reported in : [2001]252ITR577(Guj)
..... d.a. mehta, j.1. the applicant-assessee sought a reference comprising six questions under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), and the income-tax appellate tribunal, ahmeda-bad bench 'b', has raised and referred the following two questions for the opinion of this court :'(i) whether, on the ..... [1956]30itr338(bom) , the court was called upon to decide whether the expenditure incurred in that case was allowable deduction under section 10(2)(v) of the indian income-tax act, 1922. the entire judgment has proceeded in relation to the meaning of 'current repairs' and in which of the circumstances, an expenditure can be said to be falling ..... to its ramol factory premises was incurred and both these expenses were claimed to be revenue in nature and hence deductible under section 37 of the act.3. the income-tax officer for the reasons stated in the assessment order held that both the expenses were capital in nature and the assessee has acquired a benefit of .....
Tag this Judgment!Court : Gujarat
Reported in : [1966]18STC482(Guj)
..... to pay rs. 4,743-12-0 on account of income-tax for the said year. as the plaintiff did not pay the tax, recovery certificate under section 46 of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), was issued and sent to the collector for the recovery of the tax as arrears of revenue. in pursuance of this certificate ..... authority from imposing a tax, the action of a local authority or of any of its instrumentalities in transgressing ..... be purported to be done in pursuance of an intended execution of the act. finally, at page 93, it was pointed out that, even if section 84(3) of the municipalities act was to be interpreted in the same manner as section 67 of the indian income-tax act, where there was an express prohibition in a statute against a local .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)53CTR(Guj)260; [1986]158ITR636(Guj)
..... and was liable to tax as short-term capital gain. in appeal, the appellate assistant commissioner held that the agreement did not bring into existence any capital asset ..... tax. the income-tax officer, while agreeing that it was in the nature of a capital receipt, held that the payment resulted in extinguishment of the assessee's right to acquire the subject-matter, an intangible asset, and was, therefore, covered by section 2(47) read with section 45 of the income-tax act, 1961 (for short 'the act'), ..... be regarded as a loss arising from sale, exchange, relinquishment or transfer of a capital asset within the meaning of section 2(4a) of the income-tax act.' 35. these observations lend support to the submission that payment by way of compensation or damages is distinct from consideration paid for complying with the contract .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)51CTR(Guj)301; [1986]160ITR729(Guj)
..... of karamchand premchand pvt. ltd. could be treated as the investment made in acquisition of purchase of another capital asset as contemplated in section 11(1a) of the income-tax act, 1961 ?' 8. the contention of the assessee was that since the capital gains realised on the sale of the 200 ordinary shares of calico mills was utilised to ..... appeal. the appellate assistant commissioner concurred with the view expressed by the income-tax officer and partly allowed the appeal in regard to the computation of capital gains ..... aggregating to rs. 2,45,746 is not liable to tax. the income-tax officer accepted the assessee's claim for the non-taxability of items nos. (ii) and (iii) but so far as item no. (i) is concerned, he brought it to tax under section 12(2) of the income-tax act as it then stood. the assessee carried the matter in .....
Tag this Judgment!Court : Gujarat
Reported in : [1993]199ITR719(Guj)
..... the view taken by the appellate assistant commissioner holding that the 'books' are 'plant' within the meaning of section 32 of the income-tax act, 1961, and, therefore, the assessee was entitled to development rebate. 3. under section 32 of the income-tax act, 1961, in respect of depreciation on buildings, machinery, plant or furniture owned by the assessee and used for the purpose of business or profession ..... s.d. shah, j. 1. on being required to make a reference under section 256(2) of the income-tax act, 1961, the income-tax tribunal has referred the following question for our opinion : 'whether the books valued at rs. 5,324, the cost of which is allowed as revenue expenditure, are 'plant' and entitled .....
Tag this Judgment!Court : Gujarat
Reported in : (1991)99CTR(Guj)151; [1991]192ITR214(Guj)
..... allegedly earned on the investment of the said prize were also included in the assessee's total income. the income-tax officer initiated penalty proceedings under section 271(1)(c) of the income-tax act, 1961 (hereinafter referred to as 'the said act'), in respect of these three items and referred the matter to the inspecting assistant commissioner for ..... penalty proceedings. by his order dated march 26, 1975, the inspecting assistant commissioner held that the case attracted the provisions of section 271(1)(c) of the said act and ..... a prize. he held that this was a case covered by the explanation to section 271(1)(c) of the act. the matter was carried to the income-tax appellate tribunal, ahmedabad bench, ahmedabad, against the order of the inspecting assistant commissioner. 3. the tribunal found that the contentions raised .....
Tag this Judgment!Court : Gujarat
Reported in : [1993]202ITR869(Guj)
..... 51,963 paid by the assessee to its partners, shri suresh nagindas and shri mahesh nagindas, could not be disallowed under the provisions of section 40(b) of the income-tax act, 1961 (2) whether the finding of the appellate tribunal that the majuri payment of rs. 54,796 and rs. 51,963 made by the assessee to its partners, shri ..... suresh nagindas and shri mahesh nagindas, was not hit by the provisions of section 40(b) of the income-tax act, 1961, is correct in law and sustainable from the material on record (3) whether the conclusion of the income-tax appellate tribunal that the payment of rs. 54,796 and rs. 51,963 to partners, shri suresh nagindas and ..... circle i.e. (rev.), surat, by his order dated march 25, 1977, framed the assessment under section 143(1) of the income-tax act, 1961, (hereinafter referred to as 'the said act'). the business of the assessee-firm was of manufacturing art silk cloth and shri suresh nagindas and shri mahesh nagindas who were partners in the firm .....
Tag this Judgment!Court : Gujarat
Reported in : (1994)122CTR(Guj)164; [1995]212ITR614(Guj)
..... referred to as 'the act'). the commissioner of income-tax had, however, held that the activities of the assessee were only ..... of income-tax passed under section 263 of the act ?' 2. it appears that the assessee claimed that it was a company engaged in manufacturing and that it should be charged to income-tax at the rate of 55 per cent. the income-tax officer allowed the claim of the assessee to be taxed at the rate of 55 per cent. under section 104(4) of the income-tax act, 1961 (hereinafter .....
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