Court : Gujarat
..... and in the circumstances of the case the appellate tribunal was right in holding that the alleged amount of compensation cannot be brought within the meaning of income u/s 45(5) of the income, tax act, 1961? (ii) whether on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that the taxability of interest ..... k.s. jhaveri, j. 1. the revenue has filed these appeals u/s.260a of the income tax act, 1961 (for short, the act) being aggrieved by and dissatisfied with the order dated 31.01.2006 passed by the income tax appellate tribunal, rajkot (for short, the tribunal) in i.t.a. no. 1260/rjt/2005 and allied matters. 1.1 this court vide ..... to withdraw against security or otherwise the enhanced compensation (which is in dispute), the same is liable to be taxed under section 45(5) of the 1961 act. this is the scheme of section 45(5) and section 155(16) of the 1961 act. we may clarify that even before the insertion of section 45(5)(c) and section 155(16) w .....
Tag this Judgment!Court : Gujarat
Reported in : (1994)122CTR(Guj)249; [1995]213ITR207(Guj)
..... a wholly owned subsidiary company, on march 30, 1973. since development rebate has been granted to the assessee in the earlier years, the income-tax officer acting under section 155(5) of the income-tax act, 1961 (hereinafter referred to as 'the act'), withdrew the development rebate, deduction in respect of which was given in the year 1970-71, amounting to rs. 11,45,826. ..... respect of a ship, machinery or plant installed after the 31st of december, 1957, in any assessment year under section 33 or under the corresponding provisions of the indian income-tax act, 1922 (11 of 1922), and subsequently - (i) at any time before the expiry of eight years from the end of the previous year in which the ship ..... end of the previous year in which it was acquired or installed, any allowance made under section 33 or under the corresponding provisions of the indian income-tax act, 1922 (11 of 1922), in respect of that ship, machinery or plant shall be deemed to have been wrongly made for the purposes of this .....
Tag this Judgment!Court : Gujarat
Reported in : [1975]101ITR748(Guj)
..... at the rate of 6 p. c. or any other rate on this amount under sections 9(1)(vi) and 24(1)(vi) of the indian income-tax act, 1922, and the income-tax act, 1961, respectively ?(4) whether, on the facts and circumstances of the case, the assessee company can claim deduction in question on the ground that the said property ..... . these amount were claimed by the assessee-company as proper deduction under section 9(1)(vi) of the indian income-tax act, 1922, for the assessment years 1960-61 and 1961-62 and under section 24(1)(vi) of the income-tax act, 1961, for the assessment years 1962-63 and 1963-64. the assessee-company contended that these amounts ware paid as ..... in this reference, is entitled to claim deduction of interest under section 9(1)(iv) of the indian income-tax act, 1922, so far as assessment year 1960-61 and 1961-62 are concerned, and under section 24(1)(vi) of the income-tax act, 1961, so far as assessment years 1962-63 and 1963-64 are concerned. the contention of the assessee in .....
Tag this Judgment!Court : Gujarat
Reported in : 1953CriLJ1537
..... and the consequent non-payment thereof will per se amount to defrauding the municipality. however, that is not contemplated by section 77(2) of the act, and a bona fide allegation that the tax is not payable by the party, which allegation, even if proved to be ill-founded, cannot justify a finding that there was an intention ..... remains whether in declining to pay the octroi on the goods in question, the respondents committed an offence under section 77(2). on being asked to pay the tax by the octroi clerk at the naka, respondent 1 pleaded that he had sold the goods and was not himself liable, but that the person who had purchased the ..... by the first class magistrate, chotila, of a charge under section 77(2), bombay district municipal act, as adapted and applied to saurashtra. the saurashtra government has made octroi rules in exercise of their powers under section 4, saurashtra terminal tax and octroi duty ordinance no. 47 of 1949 and the chotila municipality is empowered by the government, .....
Tag this Judgment!Court : Gujarat
Reported in : (1955)IILLJ525Guj
..... general expenses at rs 7-78 lakhs.9. detailed particulars above rs. 1,000 of the item of 'prospecting expenses' at rs. 1.22 lakhs.10. income tax assessment orders for the years 1950-51 and 1951-52.it is this order which is being impugned by the applicant.2. now section 11(3) of the ..... allowed the application for a writ and set aside the order of discovery and inspection. i fully agree with the interpretation of the provisions of the industrial disputes act, the rules framed there under and the civil procedure code, relating to discovery, production and inspection of documents contained in section 30 and order xi of the civil procedure code. ..... 1908, when trying a suit, in respect of the following matters, namely:--(a) discovery and inspection;***the combined effect of section 11(3) of the industrial disputes act, 1947, and this rule 21 is to vest in the industrial tribunal with respect to discovery, production and inspection of documents the same powers which the civil procedure code places .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1960Guj27; (1960)GLR38; [1962]44ITR325(Guj)
..... in that section. it is not necessary, therefore, to discuss the applicability of the indian income-tax act to the case of the assess or to refer to s. 3 of the indian income-tax act, (sic) which extended the indian income-tax act to the state of saurashtra.(2) the income-tax officer ward-b, rajkot, issued a notice on the petitioner on 24-3-1958, ..... was more appropriate that the expression 'issued' used in the first part of the first proviso to s. 34 (3) of the income-tax act should be equated it the expression 'serve' used in s. 34(1) of the act. unquestionably,. the expression 'issued: has been used in the first part of the first proviso to s. 34(3), and the ..... intimating that he had reason to believe that the income of the assess for the year 1949-50 had escaped assessment .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1961Guj51; (1960)GLR267
..... the question of commencement of the limitation period in cases falling under sections 33a and 33b of the income-tax act has given rise to some conflicting decisions. but the majority of the high courts have taken the view that limitation in cases under those sections commences from the ..... that such argument may sometimes be of some assistance. a closer analogy, if indeed analogy is to be resorted to, is furnished by certain provisions in the income tax act, for instance section 33a, which speaks of an order which has been made more than one year previously, that section relates to the power of revision by commissioner ..... . another instance of the like nature is furnished by section 33b of that act and which relates to power of commissioner to revise income-tax officer's orders and the period of limitation there prescribed is two years 'from the date of the order sought to be revised'. .....
Tag this Judgment!Court : Gujarat
Reported in : (1961)2GLR153
..... company made a profit of rs. 3 lakhs and odd but failed to distribute any portion of it by way of dividends to its shareholders. on march 15 1944 the income-tax officer issued an order under section 23 of the indian income-tax act 1922 that the amount of profit should be deemed to have been distributed amongst the shareholders of the company and ..... question was whether an agreement between an assessee and the state of phaltan as to exemption from income-tax could be a defence against an order passed against the assessee company under section 23a of the income-tax act 1922 there the assessee company was incorporated in 1933 in the state of phaltan first as a private limited company but was subsequently converted into a .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1961Guj144; (1961)GLR227(GJ)
..... actually assessed and the amount admitted by the assessee as assessable. the argument of mr. mehta has proceeded that the expression 'assessed' has been used in the income tax act in different contexts and has been given diff-rent meanings having regard to the context in which it appears, he has drawn our attention to a decision of their ..... first schedule in the earlier part of our judgment. it will be seen that that entry rules that the proper fee on an application under section 66 of the income tax act is one half ad valorem, fee leviable on the amount in dispute, subject to the minimum fee of fifty rupees. the expression 'amount in dispute' has been ..... some modification in the order but in effect upheld the decision taken by the authorities below,. the petitioner thereafter required the tribunal under section 66(2) of the income-tax act to draw up a statement of the case and raise and refer certain-questions to this court. the tribunal dismissed-that application and it is against that order .....
Tag this Judgment!Court : Gujarat
Reported in : (1961)GLR487; [1962]45ITR294(Guj)
..... the high court of bombay, chagla c.j. and tendolkar j. pointed out that in the case of sub-clause (c) to section 2(6a) of the income-tax act, the clear intention of the legislature was that only those accumulated profits which had not been capitalised should come within its ambit. 18. there have been changes in ..... desai, c.j.1. this petition raises an interesting question of law relating to the construction of section 35(10) of the income-tax act, and arises out of certain orders under the provisions made by the first respondent, the income-tax officer, special investigation circle, b, ahmedabad. 2. the facts may be briefly stated. the petitioner is a limited liability company ..... sum of rs. 5,17,171-20 np. to the shareholders of the company. he issued an income-tax refund certificate, as in his opinion the distribution was to be treated as 'dividend' under section 2(6a) (c) of the indian income-tax act. he certified that the total amount of dividends distributed was rs. 5,17,171-20 np. 'out .....
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