Court : Mumbai
Reported in : AIR1950Bom61
..... be looked upon as such. now, i refuse to read clause (15) and (16) of the agreement as bringing about the same result as section 4, sub-clause (3), income-tax act. sir jamshedji has argued that the raja of phaltan was all powerful and that he combined in himself the executive, the legislature and even the judiciary, and therefore we must ..... one anna in a rupee on the net profits of the said sugar factory. in calculating the net profits the usual deductions in respect of depreciation etc., permissible under the income-tax act for the time being in force in phaltan state shall be allowed. now, as i read these two clauses, all that they mean is that although there may be ..... a liability on the company to pay tax under the income-tax act, the phaltan state agrees not to recover that tax from the assessee company for a period of ten years or, to put it in a different language, the company and the state agree that .....
Tag this Judgment!Court : Mumbai
Reported in : (1986)50CTR(Bom)129; [1986]161ITR535(Bom); [1986]24TAXMAN251(Bom)
..... observed that the words which required interpretation, having regard to the argument before it (which is the argument before us) in sub-section (2) of section 23 of the income-tax act, 1961, were : 'the annual value shall first be determined as in sub-section (1) 'and' and further be reduced by one-half of the amount'. what the main part ..... same conclusion as the gujarat high court but did not rest itself solely upon the words 'and further be reduced' in sub-section (2) of section 23 of the income-tax act, 1961. the madras high court found, first, that the expression 'the annual value shall first be determined as in sub-section (1)' occurring in sub-section (2) of ..... of house property occupied by the landlord himself.12. in our view, the words 'and further be reduced' in sub-section (2) of section 23 of the income-tax act, 1961, do not lead to the conclusion that there has already been a reduction in the annual letting value by the application of the provisions contained in sub-section (1). .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(1)BomCR840; (2006)202CTR(Bom)308; [2006]284ITR85(Bom); 2005(4)MhLj659
..... submissions, mr. pardiwalla, referred to and relied upon the division bench judgment of our high court, with regard to the interpretation of section 214 of the income tax act in the case of commissioner of income tax v. saswad mali sugar factory ltd. : [2001]249itr756(bom) . in that case, the assessment year was 1980-1981 and the assessment was completed ..... pardiwalla has therefore contended that both the above judgments have very clearly laid down the law as far as section 214 as well as section 244(1a) of the income tax act are concerned. he therefore submitted that based on the said provisions of law, the petitioner is entitled to interest. mr. pardiwalla produced before us two charts showing ..... /-. the inspecting assistant commissioner determined a refund of rs. 1,19,78,111/-together with the interest at rs. 31,14,306/-under section 214 of the income tax act and the amount of rs. 4,80,000/- was also charged as an interest under section 216. the total amount of refund was computed at rs. 1 .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR349
..... of goods manufactured in raichur and sold in british india. the assessee is a firm resident in british india and it is registered with the income-tax authorities under section 26a of the indian income-tax act. the assessee has three mills in bombay and one in raichur in hyderabad (dn.) state. they purchased groundnuts and then converted them into oil ..... estates in an indian state; but the tea was brought into british india and sold in british india. the calcutta high court, in a reference under the income-tax act, held that the income accrued or arose in calcutta and not in the indian state. in coming to this conclusion panckridge j. who delivered the judgment states (p. 125):in ..... the moment subsequent to that export.26. now, so far as the actual case was concerned, since the case fell within section 4(1) of the indian income tax act, undoubtedly all these profits were taxable in india and, therefore, i do not read this case as any authority for the proposition that no portion of the profits .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(3)BomCR673; 2002(1)MhLj301
..... the purposes of this judgment, we hereby quote section 32(1) to the extent required. '32, income-tax and other taxes. -- (1) notwithstanding anything contained in the [wealth tax act, 1957 (27 of 1957)], the income-tax act, 1961 (43 of 1961), the super profit-tax act, 1963 (14 of 1963), [the companies (profit) surtax act, 1964 (7 of 1964) or in any other enactment for the time being in force relating to ..... income-tax, super-tax [super profits-tax, surtax] or any other tax on income, profits or gains --'section 32 gives exemption to uti from payment of tax, inter alia, under the income tax act on its income, profits or .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)168CTR(Bom)99; [2001]249ITR612(Bom)
..... the extent required.'32. income-tax and other taxes.--(1) notwithstanding anything contained in the wealth-tax act, 1957 (27 of 1957), the income-tax act, 1961 (43 of 1961), the super profits-tax act, 1963 (14 of 1963), the companies (profit) surtax act, 1964 (7 of 1964) or in any other enactment for the time being in force relating to income-tax, super-tax, super profits-tax, surtax or any other tax on income, profits or gains.'15 ..... . section 32 gives exemption to the uti from payment of tax, inter alia, under the income-tax act on its income, profits .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR4550
..... date of receipt of the appeal.' section 22(e): reviewing the decisions.section 29: 'application of certain provisions of income tax act.- the provisions of the second and third schedules to the income tax act, 1961 (43 of 1961) and the income tax (certificate proceedings) rules, 1962, as in force from time to time shall, as far as possible, apply with ..... to institute a suit challenging the sale of the plant and machinery. this court considered the provisions of the second and third schedules to the income tax act, 1961 and the income tax (certificate proceedings) rules, 1962. this court further observed that the view formed in regard to the necessity of relegating the petitioners to the institution ..... those cases in which the property of the judgment debtor is sought to be recovered in terms of rule (4) of the second schedule of the income tax act, 1961 ?3. what is the remedy available to a party, who is not a party in proceedings before the debts recovery tribunal, but, whose property has .....
Tag this Judgment!Court : Mumbai
Reported in : [2001]248ITR659(Bom)
..... officer (tro), ward no. 24, mumbai, vide order dated november 17, 1989, attached the above flat under schedule ii to the income-tax act, 1961, on account of tax arrears outstanding in the case of the assessee by name vinod bhatia. the attachment has since been continued. by letter dated march 31, 1994, addressed by the advocate on behalf ..... in refusing to adjudicate upon the claim of the petitioner under rule 11 of the second schedule to the income-tax act, 1961, on the ground that the assessing officer has declared the gift deed dated december 2, 1986, as void under section 281 of the act. the gift deed is in favour of the petitioner. it pertains to flat no. 23, 'belle view', bhulabhai .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)165CTR(Bom)67; [2000]245ITR823(Bom)
..... receipt in the hands of the foreign company and, therefore, the same was liable to tax under section 9(1)(vii) read with section 115a and section 44d of the income-tax act, 1961. accordingly, the assessing officer directed the assessee to deduct tax at source on all payments irrespective of the fact whether they are remitted to the foreign ..... could be treated as payment in lieu of fees. being aggrieved by the decision of the tribunal, the department has come in appeal under section 260a of the income-tax act.2. the short point which arises for determination in this appeal is, whether a substantial question of law arises in this case ?3. mr. desai, learned ..... that the scheme of section 195 clearly indicates that the expression 'any other sum chargeable under the provisions of the income-tax act' would mean a sum on which income-tax is leviable. in other words, according to learned counsel, tax was required to be deducted on the gross sum. in this connection, he relied upon the judgment of the .....
Tag this Judgment!Court : Mumbai
Reported in : [1963]48ITR404(Bom)
..... is whether the said expression as used in section 30(1) has that meaning. it is well settled that the expression 'assessment' has been used in the income-tax act in different senses at different places. what is the correct connotation of the expression in a given provision must be determined on an examination of the said provision ..... year 1950-51 is the sum of rs. 20,933 or that sum increased by the sum of rs. 11,860 (2) whether section 23a of the income-tax act, 1922, is ultra vires the legislature (3) whether any appeal lies to the appellate assistant commissioner against levy of penal interest correctly computed in accordance with the provisions ..... appeal was confirmed by the tribunal, relying on the decision of this court in commissioner of income-tax v. jagdish prasad ramnath. 8. the provision relating to appeals from the order of the income-tax officer is contained in section 30 of the income-tax act. that section does not specifically provide for an appeal against the levy of a penal .....
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