Court : Rajasthan
Reported in : [1986]160ITR103(Raj)
..... and, as such, the annual value of the palace, which is not in occupation of the assessee, could not be exempt from tax in view of section 10(19a) of the income-tax act, 1961. thus, in my opinion, the finding of the learned appellate assistant commissioner is quite correct and no interference is called for.'4. ..... rent at the rate of rs. 9,322 per annum. the assessee disclosed this income. in view of section 10 of the. income-tax act, 1961 (no. xliii of 1961) (for short 'the act'), the annual value of any one palace of the ruler was exempt. the income-tax officer, vide order (annexure a) dated october 31, 1977, did not accept ..... on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that the rental income of part of udaivilas palace of the appellant, claimed as exempt under clause (19a) of section 10 of the income-tax act, 1961, is taxable under the income-tax act, 1961 ?'2. the assessee is an individual. the assessment year involved .....
Tag this Judgment!Court : Rajasthan
Reported in : [1994]207ITR608(Raj)
..... of the order dated march 28, 1981, in respect of the assessment year 1976-77 under section 256(1) of the income-tax act, 1961 :'1. whether the tribunal was correct in law in allowing the deduction under section 80p(2) of the act at rs. 1,50,132 only out of deduction claimed for rs. 4,60,385 ? 2. whether the tribunal was correct ..... return initially in which the deduction under section 80p of the income-tax act, 1961, was claimed on proportionate basis as the assessee was having income which was partly taxable and partly non-taxable. subsequently, the said return was revised and the assessee claimed deduction from the gross amount of income, of the amount of income derived from its members without deducting therefrom proportionate administrative and managerial .....
Tag this Judgment!Court : Rajasthan
Reported in : (1984)40CTR(Raj)54; [1984]147ITR486(Raj)
..... partnership deed upon irrelevant considerations. correct it is that mere registration of a firm under the partnership act will not entitle the firm, as of right, to be registered under section 185 of the i.t. act, 1961, because the question of tax is involved the income-tax authorities are of course expected to take into consideration the facts and circumstances of a given case to ..... with the directions of this court in d.b. civil misc. income-tax reference no. 117 of 1972, the income-tax appellate tribunal, jaipur bench (hereinafter to be referred to as ' the tribunal '), filed a statement of the case and referred the following question under section 256(2) of the i.t. act, 1961:'whether, in the facts and in the circumstances found by the tribunal .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)197CTR(Raj)432; [2006]283ITR377(Raj)
..... 3. the tribunal has noticed the break-up of share application money, which has been added by the ao in the taxable income of the assessee as unexplained cash credits, by invoking section 68 of the it act, 1961.the aforesaid amount has been added by the ao primarily for the reason because he was of the opinion that the applicant's ..... of share capital. shares cannot be issued in the name of non-existing persons'.10. the division bench of this court in appeal filed on behalf of revenue in cit v. shree barkha synthetics ltd. referred to above arising out of the same judgment had followed the aforesaid principle by pointing out distinction between investment made by persons ..... in books of account as loan from any person, where the company and the creditor have personal interaction.9. the full bench of delhi high court in another case in cit v. sophiya finance ltd. : [1994]205itr98(delhi) on which revenue relies on, had also opined that :'the mere fact that the assessee-company chooses to show the .....
Tag this Judgment!Court : Rajasthan
Reported in : [2004]265ITR654(Raj)
..... 8, 1988, is valid and with jurisdiction?2. whether on correct interpretation of section 42 of the indian partnership act read with section 187(2) of the income-tax act, 1961, the learned tribunal was right in law in holding that it is a case of dissolution and not of change ..... n.n. mathur, j.1. this reference application under section 256(2) of the income-tax act, 1961, has been filed at the instance of the assessee seeking reference on the following questions of law ..... second period so as to get a dual benefit. accordingly, the proceedings were reopened by issuing a notice under section 148 of the income-tax act to the assessee for the period august 25, 1986, to march 31, 1987. on august 16, 1988, the assessing officer issued ..... of the death of shri pyarelal, one of the partners of the firm. the returns were accepted under section 143(1) of the income-tax act. subsequently, it transpired that the assessee had overvalued the closing stock in the first return so as to take benefit of the same in .....
Tag this Judgment!Court : Rajasthan
Reported in : [1997]223ITR55(Raj)
..... three questions of law arising out of its order dated june 3, 1986, in respect of the assessment years 1978-79 and 1981-82 under section 256(1) of the income-tax act, 1961 :'1. whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the investment of the reserve and other funds in various securities ..... section 81(v) were considered pari materia to section 14(3)(v) of the indian income-tax act, 1922, and those of section 81(i)(a) of the income-tax act, 1961, were considered as pari materia to section 14(3)(i) of the indian income-tax act, 1922, and it was held that the income by way of interest earned by government securities by the co-operative bank is exempt .....
Tag this Judgment!Court : Rajasthan
Reported in : (1979)10CTR(Raj)127; [1979]118ITR585(Raj)
..... the year 1957-58 made on 6-9-62 requires to be modified as there is mistake apparent from record within the meaning of section 35 of the indian income-tax act. the rectification of the mistake, as per details given below, will have the effect of enhancing the assessment/ reducing refund by rs. 12,942 and if you ..... from the company and that under the provisions of sub-section (9) of section 35 of the act a recomputation of the income of the petitioners should be made by taking into consideration the income-tax payable by the petitioners on the income received by them from the company by way of dividends. although the word 'satisfaction' has not been ..... act as if the 1961 act had not been passed.22. it was also argued by the learned counsel for the petitioners on behalf of the petitioners in writ petitions nos. 132 of 1963 and 133 of 1963 that against the original assessment orders passed by the ito, the petitioners in both these writ petitions filed appeals before the aac of income-tax .....
Tag this Judgment!Court : Rajasthan
Reported in : 1993WLN(UC)391
..... of persons. it was observed that the position that emerges after a comparative study of the provisions of the income-tax act, 1961, and the indian income-tax act, 1922, and also of the wealth-tax act is that in the income-tax act, 1961, the income-tax officer can assess a person in a status other than the one in which the assessee had filed his or ..... the status of an individual on the returns having been filed in the status of a hindu undivided family without giving notices under section 139(2) of the income-tax act, 1961, are vitiated ?' 2. shri sumer singh, the ex-ruler of kishangarh, expired on february 16, 1971. the original return in respect of the assessment year ..... kothari the decision in cwt v. ridhkaran was specifically held not applicable to the income-tax act, 1961, whereas in the case of cit v. suresh chandra gupta 0065/1987 the decision of cwt v. ridhkaran was held applicable. in the case of cit v. suresh chandra gupta 0065/1987 the decision given by another division bench of .....
Tag this Judgment!Court : Rajasthan
Reported in : [1969]74ITR385(Raj); 1969()WLN157
..... 2. the first three cases are references made by the income-tax appellate tribunal, delhi bench 'b' (hereinafter called 'the tribunal'), under section 66(1) of the indian income-tax act, 1922 (hereinafter called 'the act'). the income-tax reference no. 27 of 1964 relates to the assessmentyear 1946-47 while income-tax reference no. 25 of 1964 and no. 26 of ..... was difficult to understand how the existence of a return could be ignored once it had been filed. it was also pointed out that if the income-tax officer had acted on these returns and assessed the assessee before march 31, 1950, that is, within four years of the end of the assessment year, the ..... that the return be filed before the competent income-tax officer and not before any other unconnected person. 'income-tax officer' has been defined under the act as meaning a person appointed to be an income-tax officer under section 5 of the act. thus, it is only before such an income-tax officer who has been appointed under section 5 .....
Tag this Judgment!Court : Rajasthan
Reported in : [1985]155ITR609(Raj); 1985(1)WLN649
..... to the deduction under section 10(2)(xv) as, in considering the allowability of an expenditure under section 10(2)(xv) of the income-tax act, one cannot travel beyond the provisions of the income-tax act and deny the benefit of deduction under that section on the ground that the payment is unauthorised or has been prohibited by some other statute ..... the order.7. the question is whether the assessee could claim the expenditure as its business expenditure for the assessment year 1974-75. section 37 of the i.t. act, 1961 ('the act'), occurs in chapter iv, part d which deals with ' profits and gains of business or profession '. it is a general provision. at the relevant time, the ..... years 1962-63, 1963-64 and 1964-65, would be admissible deduction, although such amount was payable under an unregistered deed executed on january 5, 1961, which deed is said to be in partial modification of an earlier registered agreement dated november 11, 1955. eastern investment ltd.'s case : [1951]20itr1(sc) and .....
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