Court : Rajasthan
Reported in : [1969]73ITR778(Raj); 1968()WLN242
..... having regard to the accepted commercial practice and trading principles, was a deduction which, if there was no specific provision for it under section 10(2) of the income-tax act, was certainly an allowable deduction. the expenditure (sic) was actually incurred or the liability in respect thereof had accrued even though it may have to be discharged ..... this assessee he could claim to deduct expenditure incurred in previous years in the assessment year in question ...... when wecome to section 13 of the income-tax act we find that income, profits and gains have to be computed for the purposes of section 10(1) in accordance with the method of accounting regularly employed by the assessee ..... such method of accounting may not be any of the recognised methods. in this connection he has relied on gappumal kanhiyalal v. commissioner of income-tax, [1961] 42 i.t.r. 416, 453, 454. after referring to a number of authorities and more particularly to the observations of lord russell in commissioner of .....
Tag this Judgment!Court : Rajasthan
Reported in : (1996)130CTR(Raj)545
..... under s. 214 on such amount. in support of his contention, learned counsel for the revenue has placed reliance upon the division bench judgment of this court rendered in cit vs. hindustan engineering co. (1995) 215 itr 527.4. we have considered the submissions made by the learned counsel for the revenue.5. sec. 214 deals with ..... hindustan radiators, jodhpur, was assessed under s. 143(3) /144b of the it act, for the asst. yr. 1980-81 by the ito, central circle, jodhpur, for the total income of rs. 10,78,180. the assessment was completed on 8th sept., 1983. the assessee paid advance tax amounting to rs. 2,13,600. the assessee challenging the assessment, preferred an ..... has referred the following question of law under s. 256(1) of the it act, 1961, for the opinion of the high court :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that interest under s. 214 of the it act was rightly directed to be allowed to the assessee from 1st april, 1980 to .....
Tag this Judgment!Court : Rajasthan
Reported in : (1994)120CTR(Raj)1; [1994]210ITR906(Raj)
..... 1989]176itr117(sc) the apex court while interpreting the provisions of section 14(5)(iv) of the indian income-tax act, 1922, which were analogous to the provisions of section 80p(2)(e) of the income-tax act, 1961, observed that the provision for exemption was intended to encourage co-operative societies to construct warehouses which were ..... purchasing, selling and distribution as also warehousing.14. in cit v. haryana warehousing corporation it was observed that the word 'marketing' has been used ..... trading activity as such.'13. the karnataka high court in the case of addl. cit v. karnataka state warehousing corporation : [1980]125itr136(kar) has held that the expression 'marketing of commodities' in section 10(29) of the income-tax act, 1961, must not be construed in a narrow sense ; it includes every activity of .....
Tag this Judgment!Court : Rajasthan
Reported in : (2003)182CTR(Raj)542; [2003]263ITR125(Raj)
..... of rs. 1,13,572 and rs. 1,79,775 were required to be charged @ 20 per cent as per provisions of section 115a(1)(b)(ii) of the it act, 1961, as it stood at the relevant time ?' the facts of the case are that the assessee m/s foss electronic, is a nonresident foreign company, developer of milko tester ..... and, therefore, he issued notice to the assessee, foreign company, why the assessment should not the revised in relation to the aforesaid assessment years. after hearing the assessee, the cit took a view that the amount received by the assessee foreign company was received as a fees towards know-how instalments and technical services rendered i.e., training of indian ..... cent considering the amount as royalty for technical know-how fees and that has not been revised. therefore, the tribunal has set aside the order of the cit passed under section 263 of the act vide order, dt. 29th july, 1992. 5. none appeared for the assessee in spite of the fact, that the reference has been listed for hearing .....
Tag this Judgment!Court : Rajasthan
Reported in : 1981(8)ELT772(Raj)
..... due to it, is a general right conferred on it under the law either by a suit or by some other method open to it. section 32 (u.p. agricultural income-tax act 3 of 1948), though it does not have an explanation analogous to section 46 nonetheless does not preclude either specifically or by necessary implication a right to recover the arrears ..... that the ordinance and the rules framed thereunder had been properly promulgated in the official gazette, as held in union- of india v. maharaja kishangarh mills ltd. a.i.r. 1961 supreme court 683.;4. that the arrears of the excise duty in question became a debt due 'te. the union of india which was entitled to recover the same by ..... rules of natural justice have to be observed for, as was held by this court in k.t.m. nair v. state of kerala 1961 (3) scr 77 at p. 54 (air 1961 sg 552) 'the assessment of a tax on person or property is at least of a quasi-judicial character.' ''20. the term 'levy' appears to us to be wider in .....
Tag this Judgment!Court : Rajasthan
Reported in : (1986)53CTR(Raj)244; [1986]160ITR444(Raj); [1986]63STC126(Raj); 1985(2)WLN397
..... , it is sufficient to state that the assessee had claimed interest paid on the delayed payment of sales tax as allowable expenditure under section 37 of the income-tax act, 1961 (no. 43 of 1961) (for short ' the act '). the income-tax officer by his order dated january 24, 1975, rejected the claim of the assessee (non-petitioner) with respect to the amount, of ..... ;' whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in holding that the interest paid to the sales tax department on the arrears of sales tax under section 11b of the rajasthan sales tax act, 1954, was an admissible deduction under section 37 of the income-tax act, 1961 '2. it is not necessary to recount the facts in detail, for .....
Tag this Judgment!Court : Rajasthan
Reported in : [2003]259ITR126(Raj)
..... to late appointment of the auditor. therefore, penalty should not be levied upon the assessee under section 271b of the income-tax act, 1961.8. he further submits that the proviso to section 44ab of the income-tax act, 1961, provides that if a statutory audit is got completed under any other relevant statute by the society, it shall be ..... the accounts are got audited under the relevant law before the specified dates that will be the sufficient compliance with the provisions of section 44ab of the income-tax act, 1961. in the case in hand, the accounts are not got audited by the statutory auditor before the specified dates, therefore, this proviso does not in ..... to the assessment years 1986-87 and 1988-89. the common issue involved in these appeals is with regard to penalty imposed under section 271b of the income-tax act, 1961, and therefore, the appeals are being decided by this common order.2. the appellant, rajasthan co-operative dairy federation ltd., is a co-operative society governed .....
Tag this Judgment!Court : Rajasthan
Reported in : [2002]258ITR548(Raj); 2002(3)WLN553; 2002(3)WLN553
n.n. mathur, j. 1. this appeal under section 260a of the income-tax act, 1961, is directed against the order dated july 27, 2000, passed by the income-tax appellate tribunal, jodhpur, directing the commissioner of income-tax, jodhpur, to grant registration to the applicant-society under section 12a of the income-tax act, 1961. 2. this appeal has been admitted by the order of this court dated july 24, 2001, on ..... in the activities of general public utility, it falls in the category of charitable society. in view of the finding, the income-tax appellate tribunal by the impugned order directed to grant registration to the assessee-society under section 12a of the income-tax act, 1961. 4. it is contended by mr. sandeep bhandawat, learned counsel appearing for the revenue, that the membership of the applicant .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1965Raj205
..... by their lordships of the supreme court. 23. we may now refer to the decision of the supreme court in : [1961]41itr425(sc) . it was observed in that case that section 44 of the income tax act sets up machinery for assessing the tax liability of firms which have discontinued their business and provides for three consequences : (1) on the discontinuance of the business of ..... cases of the supreme court. he first relied on muthappa chettiar v. income-tax officer, special circle, e. p. t. circle coimbatore : [1961]41itr1(sc) . this was a case under the excess profits tax. the decision of the case turned on construction of the proviso to section 21 of the excess profits tax act, which ran as under : 'provided that reference in the said provisions to .....
Tag this Judgment!Court : Rajasthan
Reported in : (1988)73CTR(Raj)230; [1989]175ITR317(Raj); 1988(2)WLN330
..... , a registered firm, because it has no tax liability within the meaning of sub-clause (b) read with the explanation to clause (i) of section 271(1)(a) of the ..... income-tax act, 1961 ?'2. the relevant assessment year is 1978 79. the assessee was a registered firm which was required to file the return on or before june 30, 1978. however, the assessee ..... a reference under section 256(1) of the income-tax act, 1961 ('the act'), at the instance of the revenue to decide the following question of law, namely :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that no penalty under section 271(1)(a) of the income-tax act, 1961, is leviable in this case on the assessee .....
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