Court : Kerala
Reported in : [1969]71ITR385(Ker)
..... and the question before the supreme court was whether those amounts were allowable deductions. subba rao j. observed at page 525 :'under section 10 (1) of the income-tax act, tax shall be payable by an assessee under the head profits and gains of business in respect of profits and gains of any business carried on by him. the said ..... case has come before us.the reference arose out of the order of the appellate tribunal in i.t.a. no. 10000 of 1959-60 dated the 18th february, 1961; and it relates to the assessment year 1958-59. the assessee is the travancore sugars and chemicals ltd. there was another company incorporated in travancore called 'travancore sugars ..... the question before the supreme court was whether those amounts were allowable deductions. subba rao j., as he then was, observed that under section 10(1) of the income-tax act, tax shall be payable by an assessee under the head 'profits and gains of business' in respect of profits and gains of any business carried on by him, and .....
Tag this Judgment!Court : Kerala
Reported in : (1998)149CTR(Ker)538
..... not be liable to any income-tax, super-tax, super profits tax surtax or ..... section 21'.sec. 32 of the said act reads as follows:'32. income-tax and other taxes.-(1) notwithstanding anything contained in the wealth tax act, 1957, the income tax act, 1961, the super profits tax act, 1963, the companies (profits) surtax act, 1964, or in any other enactment for the time being in force relating to income-tax, super-tax or super profits-tax, surtax or any other tax on income, profits or gains(a) the trust shall .....
Tag this Judgment!Court : Kerala
Reported in : [1997]228ITR147(Ker)
..... the subject-matter of two parallel proceedings under the kerala general sales tax act, 1963, and the income-tax act, 1961. 15. after compliance with the statutory provisions of sections 147 and 148, proceedings were initiated under section 143(3) of the income-tax act, 1961, and the income-tax officer, central circle, trivandrum, by the order dated march 28, ..... time to take recourse to the above situation flowing from the decisions of the apex court both under the earlier indian income-tax act of 1922 (section 66(2)) and the present income-tax act, 1961 (section 256(2)). such a step is expected to be taken by the concerned party within six months from ..... elongating the life of this litigation because with regard to these original petitions, the provisions of section 256(2) of the income-tax act, 1961, would necessitate calling upon the income-tax appellate tribunal with a direction to refer afresh questions with regard to the same proceedings to this court. our experience shows that .....
Tag this Judgment!Court : Kerala
Reported in : [1998]231ITR37(Ker)
..... to the explanation, on and from october 6, 1967, the position, if considered on pari materia basis with the aid of the provisions of the income-tax act, 1961 (sic). this is with reference to explanation 2 to section 147 requiring to place on the statute the situations spelling out escapement of assessment. learned counsel ..... . the first question is whether the reopening of the assessment is justified and the second question relates to the exclusion of advance tax payment under section 210 of the income-tax act, 1961. this is with regard to the determination of the market value of unquoted equity shares with regard to the assessment proceedings before the ..... requirement as regards the removal of uncertainty or unsettled position in regard thereto. in this context explanation ii with reference to section 34 of the indian income tax act, 1922, only places on record that production of account books and other evidence by itself cannot be understood to amount necessarily to disclosure within the .....
Tag this Judgment!Court : Kerala
Reported in : [2002]257ITR328(Ker)
..... the payment of amount of rs. 7,41,678.10 as certified to the tax recovery officer by the income-tax officer, central circle-1, bangalore, together with interest payable under section 220(2) of the income-tax act, 1961 (hereianfter referred to as 'the act'). the notice also directed that no amount due or payable on any account should ..... be paid without a written order from the office of the tax recovery officer. by a letter dated december 26, 1977, at exhibit p ..... , in support of his contention. we find that in beharilal ramcharan's case : [1981]131itr129(sc) , the proceedings were initiated under section 226(3) of the income-tax act, and therefore, the supreme court came to the conclusion that a notice under clause (i) of sub-section (3) of section 226 had to be given to the .....
Tag this Judgment!Court : Kerala
Reported in : [1974]96ITR577(Ker)
..... these petitions is the same. it is about the propriety of imposition of penalty against the petitioners for default in payment of advance tax payable under the income-tax act, 1961. a notice of demand under section 156 of the income-tax act, 1961, was served on the petitioner in o.p. no. 2934 of 1972 on june 2, 1969, for payment of a sum of ..... penalty is sought to be imposed. according to them mens rea must necessarily be found to be a requirement of the offence under section 221 of the income-tax act, 1961, and unless it is found, there is no justification for imposing any penalty against the petitioners. none of these contentions found acceptance with the commissioner of ..... 3 and these three contentions are urged before this court too. 3. the assessment order relacing to which the demand for payment of advance tax was made concerned the year 1970-71. section 221(1) of the income-tax act, 1961, as it then stood read as follows : '221. (1) when an assessee is in default or is deemed to be in .....
Tag this Judgment!Court : Kerala
Reported in : [1974]93ITR406(Ker)
..... filed by kamala mills ltd. is still pending in this court and if ultimately the amounts are recovered from kamala mills ltd. the assessee can be taxed on the amounts tinder section 41(1) of the income-tax act, 1961. we, therefore, find no substance in this objection as well.24. we, therefore, answer the question referred in the negative, that is, in favour of ..... law which arises out of its own order. the words 'arising out of such order' in section 66(1) of the indian income-tax act, 1922, were interpreted by the supreme court in commissioner of income-tax v. scindia steam navigation co. ltd., [1961] 42 i.t.r. 589 : [1962] 1 s.c.r. 786 (s.c.) to mean:' (1) when a question is raised before .....
Tag this Judgment!Court : Kerala
Reported in : [2001]248ITR139(Ker)
..... arises from i. t. a. no. 620 (coch) of 1994. the following questions of law are referred under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'): '(1) whether, on the facts and in the circumstances of the case and on an interpretation of the relevant provisions, the tribunal is right in ..... had occasion to deal with the scope of section 43b of the act in the decision reported in damodar electronics and controls v. cit : [1997]224itr228(ker) . in the above decision, it was observed thus (headnote) : 'section 43b of the income-tax act, 1961, was inserted by the finance act, 1983, with effect from 1st april, 1984. in respect of ..... principles of auditing (ii) the assessing officer should have rectified the assessment under section 154 of the income-tax act on the petition preferred by the assessee in regard to the disallowance of interest under section 43b(d) of the income-tax act (3) whether, on the facts and in the circumstances of the case, is the tribunal- ( .....
Tag this Judgment!Court : Kerala
Reported in : [1990]181ITR387(Ker)
..... on the facts and in the circumstances of the case, was the tribunal right in holding that the assessment was validly reopened under section 147(b) of the income-tax act, 1961 ? (2) was the tribunal justified in its finding that the materials collected and relied upon by the assessing officer for arriving at the market value of ..... on the facts and in the circumstances of the case, was the tribunal right in holding that the assessment was validly reopened under section 147(b) of the income-tax act, 1961 ? (2) on the facts and in the circumstances of the case and in thelight of the facts admitted in ground no. 2 of the appeal memorandum filedbefore ..... ? (3) was there evidence on record to support the finding of the tribunal that the income-tax officer had received information after the date of the original assessment justifying reopening of the assessment under section 147(b) of the income-tax act, 1961 ? (4) was the tribunal justified in its finding that the materials collected and relied upon .....
Tag this Judgment!Court : Kerala
Reported in : [1994]207ITR578(Ker)
..... event of a dissolution) or the other partners. the distinction made between statutory and contractual liability vis-a-vis taxes was, therefore, perhaps unnecessary.'8. it was to meet this situation that section 182(4) of the act had been introduced by the income-tax act, 1961. the said provision reads as follows :'182. assessment of registered firms.--(1) notwithstanding anything contained in sections 143 and ..... 144 and subject to the provisions of sub-section (3), in the case of a registered firm, after assessing the total income of the firm,-- . . . (4) a registered firm .....
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