Court : Mumbai
Reported in : (1984)38CTR(Bom)210; [1985]151ITR461(Bom); [1983]15TAXMAN491(Bom)
..... .1. the question to be answered in this reference under s. 256(1) of the i.t. act, 1961, reads thus :'whether the assessee-firm was entitled to relief under s. 84 of the income-tax act, 1961, in its assessment, though similar relief was allowed by the income-tax officer in the assessments of the partners ?'2. the assessee is a partnership firm consisting of three partners ..... . it set up a new industrial undertaking in the accounting year relevant to the assessment year 1967-68. the ito allowed partial exemption from tax under s. 84, relating .....
Tag this Judgment!Court : Mumbai
Reported in : [1979]119ITR266(Bom); [1979]2TAXMAN68(Bom)
..... express language of the statute. in so deciding the point, i am aware of the decision of the supreme court in the case of c. a. abraham v. income-tax officer, kottayam : [1961]41itr425(sc) , wherein it has been held that, in interpreting a fiscal statute, the court cannot proceed to make good deficiencies, if there be any; the ..... as the case may be...... (2) in the case of any person who, in the income-tax officer's opinion is assessable under this act, whether on his own total income or on the total income of any other person during the previous year, the income-tax officer may, before the end of the relevant assessment year, serve a notice upon him requiring ..... ultimately confirmed by the tribunal. the high court was moved in its writ jurisdiction, inter alia, because it was contended that s. 271(1) of the i. t. act, 1961, infringed art. 14 of the constitution. we are not concerned with this aspect in the present reference save to note that the challenge was rejected. however, one other .....
Tag this Judgment!Court : Mumbai
Reported in : (1959)61BOMLR1339
..... profit of rs.96,796/- made by the assessee in this transaction. but the commissioner of income-tax took action under s.88b of the income-tax act and brought the amount as tax. income-tax act and brought the amount as tax. the matter was then taken to the income-tax appellate tribunal & the tribunal was of the view that in acquiring the right of bhudarbhai the ..... a trading venture and that the profit of rs.96,796/- made by the assessee in this transaction. but the commissioner of income-tax act and brought the amount to tax. the matter was then taken to the income-tax appellate tribunal & the tribunal was of the view that in acquiring the right of bhudarbhai the assessee was indulging in a trading ..... received by the assessee on 5-5-1946 was part of the sale price under agreement dated 5-5-1946. in the reference under s.66(2) of the income-tax act, the question which falls to be determined is whether on the facts and in the circumstances of the case the amount of rs.96,000/- odd, which is .....
Tag this Judgment!Court : Mumbai
Reported in : 1990(3)BomCR100; (1990)85CTR(Bom)95; [1990]185ITR513(Bom)
..... aforesaid interim order was passed by this court, on the same day orders under section 197(1) of the income-tax act, 1961, dated april 16, 1987, were received by the petitioner requiring it to deduct tax under section 192 out of payments/remittance to be made to the four foreign technicians. however, no action thereupon was ..... petitioner placed before the court an order dated february 9, 1990, issued by the income-tax officer, ward 23(9), bombay, treating the petitioner as an agent in relation to the four foreign technicians under section 163(1)(c) of the income-tax act, 1961.4. shri dalvi, learned counsel for the petitioner, argued at length that the ..... payments made to the four foreign technicians were not income in their hands chargeable under the head 'salary' and, consequently, the petitioner was not obliged .....
Tag this Judgment!Court : Mumbai
Reported in : 2003(3)BomCR193; [2002]258ITR601(Bom)
..... allowed deduction for the broken period interest paid.conclusion :we now propose to answer the questions referred to us under section 256(1) of the income-tax act, 1961.questions in income-tax reference no. 346 of 1987 :(1) whether,on the facts and in the circumstances of the case, the tribunal was rightin law in ..... in the circumstances of the case, the tribunalwas right in holding that for the purposes of computing the disallowanceunder section 40a(5) of the income-tax act, 1961,rule 3of the income-tax rules, 1962, cannot beinvoked in the case of the applicant for determining the value ofrent-free accommodation and the conveyance provided to their employees ..... and in the circumstances of the case, the tribunal was rightin holding that for the purpose of computing the disallowance undersection 40a(5) ofthe income-tax act, 1961,rule 3 of the income-tax rules, 1962, cannot be invoked in the case of the applicant for determining thevalue of rent-free accommodation in the affirmative, i.e., .....
Tag this Judgment!Court : Mumbai
Reported in : 1996(5)BomCR564
..... . the learned advocate general referred to the case of c.a. abraham v. income tax officer, reported in : [1961]41itr425(sc) wherein the supreme court has held that the income tax act provides a complete machinery for assessment of tax and imposition of penalty. he submitted that this shows that the concept of tax and penalty are two different concepts.54. he also relied upon the authority of ..... view of the dishonest and contumacious conduct of the assessee. the supreme court, in cit v. bhikaji dadabhai & co. : [1961]42itr123(sc) in the context of hyderabad income tax act which ceased to have effect from 1st april, 1950, reiterated the position and held that the levy, assessment and collection of income tax would comprehend the levy of penalty also. again, in jain brothers v. union of .....
Tag this Judgment!Court : Mumbai
Reported in : 1994(2)BomCR164; [1994]208ITR623(Bom)
..... filed under article 226 of the constitution of india, the petitioners are seeking a declaration that the amendment made to section 37 of the income-tax act, 1961, by section 17(b) of the finance act, 1983, by inserting sub-sections (3a) to (3d) is bad in law, illegal, invalid and violative of the petitioners' fundamental ..... 16. the real question which requires determination is whether the impugned amendments in section 37 of the income-tax act restrains or curtails commercial speech. in the decisions in express newspapers (p.) ltd. v. union of india : (1961)illj339sc , the question arose as to whether the wage board specifying the wages and conditions of service ..... commercial speech. it is also difficult to accede to the submission that the enactment of sub-sections (3a) and (3b) of section 37 of the income-tax act has the direct inevitable consequence of infringing upon the protection guaranteed under article 19(1)(a) of the constitution of india. as mentioned hereinabove, sub-section .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1947Bom331; (1947)49BOMLR66
..... servant or employee of the company. that being so, the sum in question does not, in my judgment, fall to be taxed under section 7 of the indian income-tax act, but must be brought to tax as income received from other sources under section 12. accordingly the question should be answered in the negative. the assessee must pay the costs.chagla ..... remuneration of rs. 40,000 received by the assessee from messrs. tata sons ltd. in the year of account is salary chargeable under section 7 of the indian income-tax act ?2. the assessment year was the year 1942-43, in respect of the accounting year, which is the calendar year 1941, in which year the sum of us ..... , j.15. i agree. under section 6 of the indian income-tax act are enumerated the five heads under which income is classified and which are chargeable to income-tax, and the following sections lay down the mode of computation. section 7 deals with salaries and it provides the various heads .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(2)BomCR225; (2005)198CTR(Bom)521; [2006]280ITR345(Bom); 2005(4)MhLj490
..... v.c. daga, j.1. by this reference under section 256(1) of the income-tax act, 1961 ('act' for short), the income tax appellate tribunal has referred the following question of law, at the instance of the assessee, for the opinion of this court :'whether, on the facts and in the ..... ) and chose to follow the earlier orders denying exemption. the tribunal upheld the orders of the commissioner of income tax; holding that interest earned on surplus funds does not qualify deduction under section 10(22) of the act. the tribunal, at the instance of the assessee, has referred the above-mentioned question to seek opinion of this court as to ..... to the educational activities. the trust filed return for the assessment year 1978-79 showing interest income earned from the investment of surplus income (funds) of the schools run by it and claimed exemption under section 10(22) of the act. the said exemption was denied by the income tax officer ('i.t.o.' for short) holding that the source from which the .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR306
..... the years 1938-39 and 1939-40; and the questions referred to us are whether the claims for refund are maintainable. an application for refund can be made under the income-tax act only under section 48 thereof. sub-section (1) of that section is in these terms:if any individual, hindu undivided family, company, local authority, firm or other ..... him. now the very scheme of section 48 makes it clear that only those individuals can apply for refund who are liable to be assessed to tax under section 3 of the income-tax act. it is only an individual who can be made liable as an assessee who can apply for refund. the very foundation of sir jamshedji's application ..... a sovereign he is not subject to the municipal laws of india. therefore, the indian income-tax act does not apply to him. he is not liable to pay tax on his income and he cannot be treated as an assessee for any purposes under the income-tax act. sir jamshedji's contention is that the ruler of the baroda state has been subjected to .....
Tag this Judgment!