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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 .....

Commissioner of Income-tax Vs. Ravjibhai Harkhabhai Savalia

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 .....

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 .....

Indian Farmers Fertiliser Coop. Vs. Jcit, Range 23

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)105ITD33(Delhi)

..... and the gist thereof is that the order passed by the ao on 28-2-2003 purporting to be an order passed under section 147/143(3)/154 of the income tax act is bad in law, without jurisdiction, time-barred and at any rate the issue sought to be rectified is a debatable one not amenable to rectification under section 154.2 ..... present act has been broadly fashioned on the lines ..... section 35(1) of the old act which was similar to section 154(1) of the 1961 act did not apply to a case where the mistake arose out of the disposal of another case. the law was amended later by inserting sub-section (5) to section 35 with effect from 1-4-1952 by the indian income-tax (amendment) act, 1953. section 155 of the .....

Commissioner of Income-tax Vs. B.R. Constructions

Court : Andhra Pradesh

Reported in : [1993]202ITR222(AP)

..... the firm or the members of the association individually.' 8. section 4 of the income-tax act, 1961 : '4. charge of income-tax - (1) where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, ..... ashok, learned standing counsel for the revenue, has contended that whatever might have been the position under section 3 of the indian income-tax act, 1922, now under section 4 of the income-tax act, 1961, no option is available to the assessing authority either to assess the unregistered firm or its members, therefore, the assessing authority is ..... factory : [1966]60itr95(sc) on the ground that it was under section 3 of the old act which was different from the provisions of section 4 of the income-tax act, 1961 (hereinafter referred to as 'the new act'). the income-tax tribunal followed the judgment of this court in atchaiah's case : [1979]116itr675(ap) , which .....

Smt. Radha Gajapathi Raju Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [1991]190ITR144(Mad)

abdul hadi, j.1. in these tax cases under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), at the instance of the assessee, the following common question of law in respect of the assessment year 1970-71 to 1972-73 has been referred to ..... difference between the language of section 35(5) of the indian income-tax act, 1922, and section 155 of the 1961 act, renders the contention of learned counsel for the assessee unacceptable. under section 35(5) of the indian income-tax act, 1922, the inclusion or necessary correction of a partner's share of income from his firm, in his assessment, consequent upon the subsequent assessment ..... such fiction and section 155, on its terms, has nothing whatever to do with a mistakes apparent from the record. no doubt, under the provisions of the indian income-tax act, 1922, since it was doubtful whether there was a mistake apparent on the record in such cases in the original assessment of the partner, a fiction was enacted and .....

Voras Exclusive Tools (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1984)7ITD620(Mum.)

..... in which the machinery and plant were installed, the development rebate had been wrongly allowed as laid down under the provisions of section 155(5) of the income-tax act, 1961 ('the act'). similarly, for the assessment year 1977-78, the ito held that the investment allowance had been wrongly allowed. the ito, therefore, by orders under section 155 ..... order of the appellate authority were in the context of the powers of revision of the commissioner under section 33b of the indian income-tax act, 1922 ('the 1922 act') and section 263 of the 1961 act, which will not be applicable to the issue of rectification or amendment of the assessment orders, as laid down under section 154 and ..... a ship, machinery or plant installed after the 31st day 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 .....

Commissioner of Income-tax, Tamil Nadu-i Vs. S. Balasubramanian

Court : Chennai

Reported in : [1982]138ITR815(Mad)

..... and that the development rebate allowed for assessment years 1960-61 to 1965-66 cannot be withdrawn by the income-tax officer ?' 2. in making the original assessment for the year 1960-61 to ..... under s. 256(1) of the i.t. act, 1961, hereinafter referred to as 'the act', the following question is referred : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the provisions of section 155(5) of the income-tax act, 1961, are not applicable to the facts of the case ..... the business of the undertaking, then the development rebate originally allowed is to be deemed to have wrongly allowed, and the ito is authorised to recompute the total income of the assessee for the relevant previous year and make the necessary amendment to the assessment by rectification. the provisions of s. 154, in so far as .....

English Electric Company of India Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [1981]132ITR251(Mad)

..... for the purposes of surtax act ?' 3. the reference relates to the assessment years 1964-65, 1965-66 and 1966-67. the assessee filed returns for ..... the companies (profits) surtax act, 1964 , 2. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the depreciation provided in the accounts of the company in excess of the amount allowed as a deduction in the computation of its income for purposes of the income-tax act, 1961, was not a reserve ..... under section 18 of the c.(p.)s.t. act, 1964, read with section 256(1) of the i.t. act, 1961.2. the following questions have been referred :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income-tax officer had jurisdiction to rectify the assessment under section .....

Additional Commissioner of Income-tax Vs. Dalmia Magnesite Corporation

Court : Chennai

Reported in : [1979]117ITR930(Mad)

..... case, the appellate tribunal was right in law in holding that there was no splitting up or reconstruction of the business within the meaning of section 84(2) of the income-tax act, 1961, and there was no scope for refusing to grant the relief under section 84 for the assessment year 1962-63 ?' t.c. no. 180 of 1974 : 'whether ..... the appellate tribunal was right in law in holding that there was no splitting up or reconstruction of the business within the meaning of section 84(2) of the income-tax act, 1961, and there was no scope for refusing to grant the relief under section 84 for the assessment years 1963-64 and 1964-65 ?' t.c. no. 147 ..... allowed therein ? whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the income-tax officer's rectification order was really one under section 155(5) of the income-tax act, 1961, and that, therefore, the assesee's appeal against such order was competent and maintainable in law ?' t.c. no. 240 of .....