Court : Orissa
Reported in : [2007]292ITR175(Orissa)
..... aforesaid judgment the apex court has clearly stated that the words 'derived from' in section 80hh of the income-tax act, 1961, must be understood as something which has immediate nexus with the assessee's industrial undertaking. he further submitted that interest earned by the assessee under ..... present case thereby not requiring any interference by this court in exercise of its appellate jurisdiction under section 260a of the income-tax act, 1961. shri mohapatra submitted that section 80hh of the act grants deduction only in respect of the profit and gains 'derived from' an industrial undertaking and stated that in the ..... the transit house indirectly is not allowable as deduction while computing the income from business solely because of the provision in section 37(4a) of the income-tax act, 1961.(ii) the income-tax appellate tribunal erred in disallowing relief under section 80hh of the act in so far as interest received of rs. 1,63,04,937 .....
Tag this Judgment!Court : Orissa
Reported in : AIR2008Ori37; (2008)218CTR(Ori)568; [2008]299ITR56(Orissa)
..... assessing officer. it was also stated that against the steps which have been taken against the bankers, the bankers are free to challenge the same under section 246a of the income-tax act, 1961. the said action against the bankers cannot be impugned in the instant writ petition which is wholly premature and a misconceived one.these are the rival contentions.15. coming to ..... submitted that in the year 1995 a letter was given by the assistant commissioner of income tax, circle-i, bhubaneswar to the administrator of the said temple to the effect that income of lord shri jagannath temple, puri, orissa is exempted from income-tax under section 10(23bba) of the income-tax act, 1961 with effect from 1st april, 1962. the said letter dated 17-8-1995 has been .....
Tag this Judgment!Court : Orissa
Reported in : 104(2007)CLT89
..... clearly stated that the words 'derived from' in section 80hh of the income tax act, 1961 must be understood as something which has immediate nexus with the assessee's industrial undertaking. he further submitted that interest earned by the assessee under all the. four heads of ..... facts and circumstances of the present case thereby not requiring any interference by this court in exercise of its appellate jurisdiction under section 260a of the income tax act, 1961. shri mohapatra submitted that section 80hh of . the act grants deduction only in respect of the profit and gains 'derived from' an industrial undertaking and stated that in the aforesaid judgment the apex court has .....
Tag this Judgment!Court : Orissa
Reported in : (1992)108CTR(Ori)451
..... partnership business ?(2) whether, on the facts of the case, the tribunal was justified in directing that salary income of the assessees husband was not be included in the income of the assessee under s. 64(2) of the it act, 1961 ?'2. assessee is wife of paramananda who was a member in partnership firm styled as m/s. sahoo ..... tribunal where her grievance was appreciated and it was held relying upon a decision of patna high court reported in cit vs . banaik industries : [1979]119itr282(patna) that the remuneration of paramananda cannot be added to the income of sitamani qua huf. aggrieved by the same, revenue sought for reference to this court.3. salary and ..... was running the business. he could not have received the same on behalf of the family.taxing authorities have not delved into these material factual aspects for treating the income of paramananda as remuneration and bonus from the firm as family income.5. in absence of proper enquiry and further finding of facts, answer to the questions .....
Tag this Judgment!Court : Orissa
Reported in : [1970]77ITR1013(Orissa)
g.k. misra, c.j. 1. the following question has been referred to the high court under section 66(2) of the indian income-tax act, 1922 (hereinafter referred to as ' the act ')-' whether the memorandum of partition dated may 1, 1957, evidencing previous partition on april 1, 1957, is inadmissible in law for want of registration '2. the facts leading to this ..... filed before this court. the assessee filed an application under section 25a of the act and an order was sought to the effect that the joint family property had been partitioned among the various members in definite portions as required under section 25a, sub-section (1). the income-tax officer rejected this claim holding that the memorandum was compulsorily registrable and that the .....
Tag this Judgment!Court : Orissa
Reported in : [1972]84ITR351(Orissa)
..... to be referred to as 'the tribunal') under section 66(1) of the indian income-tax act, 1922 (11 of 1922) (hereinafter to be referred to as 'the act'):'whether, on the facts and circumstances of the case, the inclusion of the amount of sales tax debited by the assessee to the purchase account and in view of the admission made ..... on the cash basis system. in such a system the taxable income would be determined by deducting from the gross income all deductible expenditure under sections 10(1) and 10(2)(xv) of the indian income-tax act. those sections, so far as relevant, run thus :'10. (1) the tax shall be payable by an assessee under the head 'profits and ..... of sale of liquor which produced the profit and therefore had a profit making quality.32. in chhatrasinhji kesarisinhji thakore v. commissioner of income-tax, the facts were these. under the bombay local boards act 6 of 1923, the state government was authorised to levy, on the conditions and in the manner described, a cess at the rate .....
Tag this Judgment!Court : Orissa
Reported in : [1965]58ITR685(Orissa)
..... on the facts and circumstances of the case, registration of the firm should have been renewed for the assessment year 1959-60 under section 26a of the indian income-tax act, 1922, read with the rules framed thereunde ?'the assessee is a partnership concern constituted by a registered deed of partnership dated march 28, 1958. the ..... accordingly he rejected the application for renewal on july 28, 1960.on appeal by the firm, the appellate assistant commissioner, income-tax, cuttack, by his order dated june 18, 1961, maintained the order of the income-tax officer and rejected the application for registration. he referred to various clauses of the partnership deed. according to him the ..... and hold that the registration of the firm should have been renewed for the assessment year 1959-60 under section 26a, read with the rules made under the income tax act, 1922.the department shall pay a sum of rs. 250 (rupees two hundred and fifty) to the assessee towards the costs of this reference.narasimham c .....
Tag this Judgment!Court : Orissa
Reported in : [1955]28ITR136(Orissa)
..... from forest of spontaneous growth did not constitute agricultural income and was not assessable to income-tax under the agricultural income-tax act. that case did not overrule any previous decision under section 4 of the income-tax act which exempts agricultural income from assessability to tax under the income-tax act., that was a decision under the agricultural income-tax act, and the income-tax officer in the present case being informed that the patna high court had ..... decided in that case that it was not agricultural income liable to be taxed under the agricultural income-tax act, sought to invoke his powers under section 34 of the income-tax act. in our .....
Tag this Judgment!Court : Orissa
Reported in : 16(1950)CLT134; [1951]19ITR30(Orissa)
..... assessment purposes as profits of the debtor as well as of the creditor. under the circumstance, mr. mohantys remedy is somewhere else than in this court. in case the income-tax department does not perform their duty, his remedy in this court would then be opened. under the circumstance, we dismiss these s. j. cases. as all these cases ..... cannot avail of the other exceptions, referred to above. with regard to this, he urges, relying upon a bombay decision, reported in maharaja of patiala v. commissioner of income-tax (central), bombay, that a case, where the principal himself can be assessed, as he was assessed in the aforesaid reported case, is as good as a case in ..... within the exception while assessability of the principal under section 42 of the act is not enough for the purpose. it is only when the principal or anybody on his behalf in respect of the very item of interest received by him is assessed to income-tax, that the debtors business has to be exempted from being assessed again in .....
Tag this Judgment!Court : Orissa
Reported in : 94(2002)CLT41
..... the petitioners in all the revisions submitted that nabapravat trust has been established under the indian trust act for charitable purpose and the same has been registered under the income tax authorities for exemption from payment of income tax. the trust runs two technical institutes namely neelachal poly-technic and neelachal institute of computer science which ..... of two of the petitioners-companies and a trustee in the petitioner trust (in crl. revision no. 718/2001) also had no income and was not paying income tax till 1995. suddenly after 1995 there has been acquisition properties to the extent stated above which have been found prima facie to be disproportionate ..... namely zerina marines pvt. ltd. and zerina constructions pvt. ltd. had sufficient sources of income. rather son of accused-public servant had practically no income and was not filing tax return till year 1995. after 1995 suddenly income of the son of accused public servant has gone upto such extent that doubt arises in .....
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