Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1986)19ITD699Indore
..... as the sole means of livelihood'. the expression 'house property' has not been employed in the wealth-tax act but has well understood meaning under the income-tax act, 1961 ('the 1961 act'). 'income from house property' is one of the heads under which income is assessed under sections 22 to 27 of the 1961 act. it has been fairly conceded even by the learned departmental representative that under the above head ..... also (of course within the limit laid down in the section). in this connection, attention is invited to sections 22 to 27 of the income-tax act. 1961, which refer to income from house property. these sections are applicable to income from house property whether the house property is residential or it is used for business. in the circumstances, it is presumed that the exemption to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1987)22ITD469Indore
..... court, the properties could not be transferred or offered to the temple. on the strength of the very same reasoning given by the cit in income-tax appeals of the assessee up to the a.y. 1978-79, we confirm his finding and not only reject the appeal of the ..... in respect of the very said properties by the temple and it is the temple, in the form of a trust which is assessed to income-tax. he also relied on a tribunal decision in the case of dr. (miss) chandrakanta rohatgi v. ito. he also pointed out that ..... ys. 1978-79 to 1982-83 and 4 by the revenue pertaining- to the a.ys.1979-80 to 1982-83 under the wealth-tax act since involved a common basic issue, all were heard together and are disposed of by this consolidated order for the sake of convenience. in ..... which case the will must be in writing and attested by at least two witnesses if the case is governed by the indi,an succession act, 1925, s. 57 (369 above). an entry in the account of a firm of money-lenders showing that the firm is indebted .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1987)22ITD73Indore
..... profession" or in other words, whether dalali receipts in the hands of the assessee can be termed as income derived from professional activities. the terms "business" and "profession" are defined as per section 2(13) and (36) of the income-tax act as under :-- 2(13)-- "business" includes any trade, commerce or manufacture or any adventure or ..... force while he is practising in it. the learned departmental representative cited example of durant v. irc 12 tc 245 (ca) where a person, specialised in preparing income-tax returns and getting refunds, was held to be carrying on "business" and not "profession".similarly, he cited example of surveyers who were rendering advise to the ..... . ram kripal tripathi [1980] 125 itr 408. the learned departmental representative brought to our notice observations made by sampath iyengar in "law of income-tax" 7th edn., page 740 wherein the learned authors, after relying upon several indian and english decisions, have observed that in deciding whether a person .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1987)22ITD1aIndore
..... -section (1a), or 6. the facts of maya rani punj's case (supra) are that for the a.y.1961-62 income-tax return was to be filed by september 28, 1961. the return, however, was filed on may 3, 1962 i.e. after income-tax act, 1961 had come into force w.e.f. 1-4-1962. the ito initiated proceedings under section 271(1)(a) of ..... the income-tax act 1961, for the default in submission of the return in time and levied a penalty of rs. 4,060. the appellate tribunal held that penalty was to be ..... quantified according to the provisions of section 28 of 1922 act and reduced the amount of penalty to rs. 400. on a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1988)27ITD290Indore
..... hyderabad income-tax act. the income-tax officer however, held that as no tax was deducted from the interest, the assessee should pay on that amount income-tax at the maximum rate under section 24(12) of the hyderabad income-tax act. held that "payment" in section 24(4) of the hyderabad income-tax act [corresponding to section 18(3a) of the indian income-tax act, 1922 ..... meaning of that sub-section so as to attract the provisions of section 24(12) of the hyderabad income-tax act [corresponding to section 18(7) of the indian income-tax act] the order of the income-tax officer demanding tax from the assessee was, therefore, not in accordance with law.7. their lordships of the supreme court ..... in section 195(1) certainly envisage actual payment of amount. when provisions of section 194a(1) are read conjectively with section 195(1) of the income-tax act, it is abundantly clear that former covers both time of credit as well as time of payment whereas the latter only refers "the time of payment .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1989)29ITD87Indore
..... may say, does not appeal to us. for his proposition the learned counsel drew our attention to clause (c) of section 4(1) of the gift-tax act which runs as under: where there is a release, discharge, surrender, forfeiture or abandonment of any debt, contract or other actionable claim or of any interest in ..... of the valuation of goodwill and it was considered not to have made a gift of share of goodwill in favour of incoming partner remaining partners of the firm. he confirmed the decision of the gift-tax officer. hence these appeals before the tribunal.5. the first contention raised by the assessee's learned counsel was that in ..... 1968. the facts of that case and the case before us are distinguishable. firstly, there were introduction of fresh capitals by the incoming partners and secondly there was agreement of active participation of business by incoming partners. in this case, these had not happened. there was neither introduction of new capital or the fresh blood came in participating .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1989)29ITD368Indore
..... also a consulting physician and cardiologist.3. the assessments left the assessee aggrieved and were challenged in appeal before the aac. before the aac certain decisions of the income-tax appellate tribunal on section 80u were cited. the aac did not accept the certificate of dr. mukerjee on its face value. he summoned the doctor under section 131 ..... gainful employment or occupation. he has given a reasoned order after examining the doctor and rejected the claim of the assessee for deduction under section 80u of the act by upholding the orders of the ito and dismissing the appeals.4. we have heard the parties and carefully considered their rival submissions. the 1d counsel for the ..... 1985. we also find that the words 'being a permanent physical disability specified in the rules made in this behalf by the board' have been inserted by the finance act, 1984 w.e. f. 1-4-1985. therefore, the amended provisions of section 80u will apply to the assessment years 1985-86. the assessment years before us .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1989)29ITD378Indore
..... attorneys of smt.sarojkanta mehan and shri vijaykumar puri respectively since they were at that time out of india. application for registration under section 184(2) of the income-tax act, 1961 was made to the ito. it was signed by shri amarjit kumar puri for himself and also for the remaining three partners who were stated to be in uk ..... puri only for and on behalf of the remaining three partners, even though those three partners were absent from india. the explanation to section 184(3) of the income-tax act requires signature by any person duly authorised or by a person entitled under law to represent the absentee-partner. shri amarjit kumar puri cannot be said to be ..... further, the following observations of the hon'ble bombay high court in a. phiroj & co. v. cit [1966] 59 itr 645 may be referred to with advantage : the word 'instrument', therefore, as used in section 26a of the indian income-tax act will mean a document of a legal nature, by which any right or liability is or purports to be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1990)34ITD347Indore
..... of the parliament as expressed in the memorandum explaining the provisions in finance bill, 1989 : - under the existing provisions of section 43b of the income-tax act, a deduction for any sum payable by way of tax, duty, cess or fee, etc., is allowed on actual payment basis only. the objective by cenying deduction in respect of a statutory liability which ..... previous year will be allowed as a deduction, if it is actually paid by the due date of furnishing the return under section 139(1) of the income-tax act, in respect of the assessment year to which the aforesaid previous year relates. this proviso was introduced to remove the hardship caused to certain ..... year before the day by which the income-tax return should be filed under section 139. however, the legislature made it clear that this would come into effect only from the assessment year 1988-89.9. the next change brought about in the legislature was the introduction of the explanation by the finance act, 1989. this was necessitated, as .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1991)36ITD247Indore
..... submissions of the parties.at the outset it may be stated that the above credits in the names of three ladies have been misapprehended by the tax authorities below as cash credits. section 68 of the income-tax act, 1961 reads as under :- 68. cash credits.-where any sum is found credited in the books of an assessee maintained for any previous year and the ..... 'ble mr. justice sabyasachi mukharji (as then he was) in sikri & co. (p.) ltd. v. cit [1977] 106 itr 682 (688)(cal.) need to be noticed :- section 68 of the income-tax act, 1961, is a statutory recognition of what was previously established by the judicial decisions under the indian income-tax act, 1922, namely, that where certain sums of money were claimed by the assessee to have .....
Tag this Judgment!