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Commissioner of Income-tax, Faridabad Vs. Ghanshyam (Huf)

Court : Supreme Court of India

Reported in : (2009)224CTR(SC)522; [2009]315ITR1(SC); JT2009(9)SC445; 2009(9)SCALE657; (2009)8SCC412; [2009]182TAXMAN368(SC); 2009(6)LC2930(SC)

..... assessment year 1956-57.28. the question is : whether the judgment of this court in hindustan housing (supra) would apply to the present case which arises under the income-tax act, 1961? at the outset, it may be noted that the judgment of this court in hindustan housing (supra) was delivered on 29.7.86. it was prior to 1. ..... compensation or consideration stood enhanced or further enhanced by the court, is deemed income chargeable under the head 'capital gains' of the previous year in which the said amount ..... enhanced compensation during the previous year was also, according to the assessee, not chargeable to tax on the same plea.6. the a.o. did not accept the contentions of the assessee on the ground that in terms of section 45(5) of the income-tax act, 1961 ('1961 act', for short) enacted w.e.f. 1.4.88, the amount by which .....

Commr.of Income Tax,rajkot Vs. Govindbhai Mamaiya

Court : Supreme Court of India

..... heirs to the estate of the deceased husband. it was held that since the widows had an equal share in the income from immovable properties, section 9(3) of the indian income tax act, 1922 will apply. so far as other incomes were concerned, it was held: ".coming back to the facts found by the tribunal, there is no finding that ..... 23 (1-a) and solatium under section 23(2) of the 1961 act forms part of enhanced compensation under section 45(5)(b) of the 1961 act. 8. it is clear from the above that whereas interest under section 34 is not treated as a part of income subject to tax, the interest earned under section 28, which is on enhanced compensation, ..... is treated as a accretion to the value and therefore, part of the enhanced compensation or consideration making it exigible to tax. after .....

Chhathu Ram and Others Etc. Etc Vs. Commissioner of Income-tax, Bihar, ...

Court : Supreme Court of India

Reported in : AIR1993SC1505; [1993]201ITR513(SC); JT1993(2)SC430; (1993)2MLJ87(SC); 1993(1)SCALE757; 1993Supp(2)SCC582; [1993]2SCR179

..... of the tribunal but they withdrew them with a view to move the tribunal under section 256(1) of the income-tax act, 1961. they filed their applications accordingly which were treated by the tribunal as applications made under section 66(1) of the 1922 act. the tribunal found that the said applications were barred by limitation and accordingly dismissed the same. it is then ..... prayed for quashing the orders of the tribunal but also asked for quashing the orders of rectification made by the income-tax officer.8. the high court dismissed the writ petitions on the following reasoning: by virtue of section 297 of the 1961 act, all the proceedings including the proceedings for rectification relating to the assessment year 1942-43 must be deemed to have .....

Malabar Fisheries Co. Vs. Commissioner of Income-tax, Kerala

Court : Supreme Court of India

Reported in : AIR1980SC176; (1979)12CTR(SC)415; [1979]120ITR49(SC); (1979)4SCC766; [1980]1SCR696

..... firm consequent on its dissolution amounts to a transfer of assets within the meaning of the expression 'otherwise transferred' occurring in section 34(3)(b) of the indian income-tax act, 1961, having regard to the definition of transfer in section 2(47) of the act2. the facts giving rise to the question lie in a narrow compass. the ..... mutual adjustment of rights of the partners and does not amount to a sale or transfer had been rendered under the income-tax act, 1922 wherein the expression 'sale' of 'transfer' had not been defined whereas in the 1961 act by which the case was governed, the expression 'transfer' had been defined by section 2(47) in a very ..... circumstances of this case, there was a transfer of assets within the meaning of the words 'otherwise transferred' occurring in section 34(3)(b) of the income-tax act?the high court answered the second question in the affirmative and against the assessee and in view of that answer, declined to answer first question as being unnecessary .....

Union of India (Uoi) and ors. Vs. Seth R. Dalmia

Court : Supreme Court of India

Reported in : AIR1975SC1017; (1975)4SCC16; [1975]3SCR735; 1975(7)LC275(SC)

..... the chairman under office order dated january 1, 1964 which included matters relating to the reopening of assessments under section 34 of the income-tax act, 1922 or under section 147 of the income-tax act, 1961, but the paragraph adds that 'later with the approval of the central government this item of work was assigned to the member ..... writ petitions filed by the respondent before us challenging the validity of six notices dated september 7, 1965 issued under section 148 of the income-tax act, 1961 (hereinafter referred to as the act). the notices relate to the assessment years 1949-50, 1950-51 and 1951-52, the corresponding accounting years ending on the 30th september ..... work of according sanction of the board under section 151(1) for reopening of assessments under section 147 of the income-tax act, 1961 to which he consented.4. rule 4 of the central board of direct taxes (regulation of transaction of business) rules, 1964 envisaged that chairman may by an order made with the previous .....

Sait Nagjee Purushotham and Co. Vs. Commissioner of Income-tax, Madras

Court : Supreme Court of India

Reported in : AIR1967SC617; [1964]51ITR849(SC); [1964]6SCR91

..... allowed and the question answered in favour of the assessee firm but only in respect of the business in piece-goods, yarn and banking which alone had paid tax under the income-tax act of 1918. i would therefore allow the appeals with costs here and in -the high court. order by court in accordance with the opinion of the majority ..... (4) of s. 25. the second condition of the applicability of s. 25(4) is that business must have been carried on at the commencement of the indian income-tax act (amendment) act, 1939, that is, april 1, 1939, by the person claiming the relief. the third condition is that the person carrying on the business on april 1, 1939 has ..... april 1, 1939. the contention of the department has so far succeeded and i need not give the details of the decisions of the various tribunals under the indian income- tax act and the high court, because my learned brother's judgment gives all such details. i shall therefore address myself to the questions (a) whether there was a succession .....

Union of India (Uoi) and anr. Vs. Azadi Bachao Andolan and anr.

Court : Supreme Court of India

Reported in : (2004)1CompLJ50(SC); (2003)184CTR(SC)450; [2003]263ITR707(SC); JT2003(Suppl2)SC205; 2003(8)SCALE287; (2004)10SCC1

..... carrying on no business there; they are, in fact, prevented from earning any income there; they are not liable to income tax on capital gains under the mauritius income-tax act. they are liable to pay income-tax under indian income-tax act, 1961, since they do not pay any income-tax on capital gains in mauritius, hence, they are not entitled to the benefit ..... entities are really resident by investigating the center of their management and thereafter to apply the provisions of income-tax act, 1961 to the global income earned by them by reason of sections 4 and 5. of the income-tax act 1961.81. it is urged by the learned attorney general and shri salve for the appellants that the phrase ..... law. in the situation where the terms of the dtac have been made applicable by reason of section 90 of the income-tax act, 1961, even if they derogate from the provisions of the income-tax act, it is not possible to say that this principle of lifting the veil of incorporation should be applied by the court .....

The Commissioner of Income-tax, Madras Vs. S.S. Sivan Pillai and ors.

Court : Supreme Court of India

Reported in : (1970)2SCC180

..... . under the scheme of section 15-c the profits or gains of an industrial undertaking must be determined under and in the manner provided by section 10 of the income tax act. for that purpose all the allowances under sub-section (2) must be taken into account, and the resultant amount forms a component of the taxable profit. if by ..... -section (1) of section 15-c are not business profits: they are taxable profits computed in accordance with the provisions of section 10 of the income tax act. under section 15-c(1) no tax is payable by the industrial undertaking on its taxable profits equal to six per cent per annum of the capital employed. sub-section (4) of ..... profits, for the depreciation for the current and the previous years amounted to rs 2,83,343 which was an admissible allowance in the computation of income under section 10 of the income tax act. since full effect could not be given to the allowance, the company was entitled to add to the depreciation for the following year the unabsorbed .....

imperial Chit Funds (P) Ltd. Vs. Income-tax Officer, Ernakulam

Court : Supreme Court of India

Reported in : 1996IIIAD(SC)488; AIR1996SC1887; I(1996)BC659(SC); [1996]86CompCas555(SC); (1996)133CTR(SC)505; [1996]219ITR498(SC); JT1996(3)SC410; 1996(1)KLT699(SC); 1996(3)SCALE20; (199

..... views is correct.4. in order to appreciate the controversy in question, it will be useful to bear in mind the relevant provisions of the income-tax act, 1961 and the companies act, 1956. the relevant provisions are extracted herein-below :income-tax act, 1961178. company liquidation. - (1) every person -(a) who is the liquidator of any company which is being wound up, whether under the orders of ..... in the section.6. in the judgment under appeal the high court has referred to the legislative history and background that led to the enactment of section 178 of the income-tax act, 1961. the high court has referred to report of the company law reforms committee which has been referred to in the decision of the andhra pradesh high court, wherein the plea .....

Union of India and anr. Vs. Azadi Bachao Andolan and anr.

Court : Supreme Court of India

Reported in : [2003]263ITR706(SC); [2003]132TAXMAN373(SC)

..... carrying on no business there; they are, in fact, prevented from earning any income there; they are not liable to income tax on capital gains under the mauritius income tax act. they are liable to pay income-tax under indian income tax act, 1961, since they do not pay any income-tax on capital gains in mauritius, hence, they are not entitled to the benefit ..... entities are really resident by investigating the center of their management and thereafter to apply the provisions of income tax act, 1961 to the global income earned by them by reason of sections 4 and 5 of the income tax act, 1961.76. it is urged by the learned attorney general and shri salve for the appellants that the phrase ..... law. in the situation where the terms of the dtac have been made applicable by reason of section 90 of the income tax act, 1961, even if they derogate from the provisions of the income tax act, it is not possible to say that this principle of lifting the veil of incorporation should be applied by the court. .....