Court : Kerala
Reported in : (1987)65CTR(Ker)214; [1987]166ITR804(Ker)
..... forming part of the ice factory, had been utilised for setting up the lodging house, the same was exempt from tax under section 54d of the income-tax act, 1961, for short, 'the income-tax act'. the appellate assistant commissioner, however, found that the business of running the lodge cannot be treated as an 'industrial ..... undertaking' within the meaning of section 54d of the income-tax act and hence the assessee is not entitled to the exemption. on further ..... undertaking' require to be construed keeping in view the provisions contained in sections 10a, 33b, 80m, 80j, 80k and such other similar sections in the income-tax act. these sections according to him, clearly state what an 'industrial undertaking' is. an 'industrial undertaking' should be a vocation, occupation, activity or business .....
Tag this Judgment!Court : Kerala
Reported in : [1997]227ITR916(Ker)
..... the decision of n. c. budharaja's case : [1993]204itr412(sc) . although a claim of the contractors with regard to the provisions of section 80hh of the income-tax act, 1961, was required to be considered therein, in our judgment, that makes no difference to the situation.27. a little earlier in delhi cold storage's case : [1991]191itr656 ..... the entire judgment in n.c. budharaja's [1994] 204 itr 412. although the apex court was dealing with the claim under section 80hh of the income-tax act, 1961, at the instance of the assessee engaged in constructing a dam, we find that in the process of reasoning, the apex court has placed reliance on its ..... undertaking for the purposes of business of manufacture or production of any article or thing. this is the necessarily required statutory provision of section 32a of the income-tax act, 1961, requiring us to determine that the installed machinery or plant satisfies that it is for the purposes of business of manufacture or production of any article or .....
Tag this Judgment!Court : Kerala
Reported in : (1999)152CTR(Ker)63; [1999]236ITR185(Ker)
..... the only condition for issuing the notification is that it should be a charitable institution which is clear from exhibits p-2 to p-7 certificates issued under the income-tax act, 1961. the grievance of the petitioner is that the second respondent rejected the request made by the petitioner without assigning any reason. 6. a counter-affidavit is filed ..... stated that along with the said application, the petitioner had produced the copies of the trust deed, copies of the exemption certificate issued under section 80g of the income-tax act, 1961, and copies of the annual statement of accounts for the years up to march 31, 1991. it is also stated that the said application was forwarded by the ..... a trust constituted by a deed of trust dated april 24, 1986 (exhibit p-2). it is registered as a charitable trust under section 12a of the income-tax act, 1961 (exhibit p-l). it is stated that the trust was constituted for helping the poor and needy in rural areas. the main objects of the trust as stated .....
Tag this Judgment!Court : Kerala
Reported in : [2000]246ITR330(Ker)
..... cash system of accounting accepted for the assessment under the income-tax act, 1961 ?(2) whether, on the facts and circumstances of the case, on account of doctrine of incorporation, section 145 of the income-tax act, 1961, having been incorporated in section 21 of the interest-tax act, 1974, when the assessee maintains books of account on cash ..... system and being assessed under the cash system under the income-tax act does not the chargeable interest deserve to be computed on ..... cash method and if the intention of the legislature would have been to tax on mercantile system, the legislature in their wisdom would not have included section 145 of the income-tax act, 1961, in section 21 of the interest-tax act ?2. a short but interesting question arises for consideration. the reference has .....
Tag this Judgment!Court : Kerala
Reported in : (2003)180CTR(Ker)369; [2003]260ITR442(Ker)
..... above. this information is required under section 133(6) of the income-tax act, 1961, after obtaining necessary approval from the commissioner of income-tax (cib), cochin. non-compliance to this notice may entail levy of penalty under section 272a of the income-tax act, 1961.' 2. identical notices as above received by other petitioners in ..... certain privileges under the income-tax act such as income-tax exemption available to them under section 80p of the income-tax act, immunity from deduction of tax on the interest received by them under section 194a of the income-tax act, etc. therefore, their contention is that section 133(6) of the income-tax act does not authorise issuance of ..... section 133(6). i do not thinkany banking company including nationalised banks can claim any immunityfrom proceedings under section 133(6) of the income-tax act and all suchinstitutions are bound to furnish information called for, though general innature. the department is free to ask for information about any .....
Tag this Judgment!Court : Gujarat
Reported in : [1961]43ITR405(Guj)
..... the shares of the partners. in 1947 the partnership was converted into a limited company and the assessee firm claimed relief under section 25(4) of the indian income-tax act. the income-tax officer disallowed the claim on the ground that the partners of the firm in 1939 being different from the partners of the firm in 1947, on relief could ..... supreme court, in the course of his judgment, observes as follows : 'the true question to decide is one of identity of the unit assessed under the income-tax act, 1918, which paid double tax in the year 1939, with the unit to whose business the private limited company succeeded in the hear 1947. we have no doubt that the tribunal and ..... his business. he became entitled to carry forward the sum of rs. 29,308 on account of such loss under the provisions of section 24(2) of the income-tax act. on 7 november, 1953, the assessee entered into a deed of partnership where under he admitted his brother kirparam motiram as his partner in the said business from .....
Tag this Judgment!Court : Gujarat
Reported in : [1994]210ITR86(Guj)
..... question : '1. whether, on the facts and in the circumstance of the case, the appellate tribunal has been right in law in holding that section 79 of the income-tax act, 1961, was not attracted in the instant case and, consequently, the assessee was entitled to the adjustment of carry forward of previous loss and also unabsorbed depreciation as well as unadjusted ..... section 79? 2. whether, on the facts and in the circumstances of the case, the appellate tribunal has been right in law in holding that section 79 of the income-tax act, 1961, was not attracted in the instant case and, consequently, the assessee was entitled to the adjustment of carry forward of previous loss and also unabsorbed depreciation as well as ..... g.t. nanavati, j. 1. in this reference made under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following two questions to this court for its opinion : '1. whether, on the facts and in the circumstances of the case, the tribunal .....
Tag this Judgment!Court : Gujarat
Reported in : [1973]90ITR318(Guj)
..... a business and a person setting up a business and for the purpose of section 2(11) which was the section of the indian income-tax act, 1922, corresponding to section 3(1)(d) of the income-tax act, 1961, what is required to be considered is the setting up of a business and not the commencement of business. it is only when a ..... we now proceed to consider. 5. now the question as to when a business is set up assumes importance because, according to section 3(1)(d) of the income-tax act, 1961, the previous year for a business newly set up in a financial year means the period beginning with the date of the setting up of the business and ending with ..... bhagwati, c.j.1. the reference arises out of assessment to income-tax made on the assessee for the assessment year 1966-67, the relevant previous year being the financial year ending 31st march, 1966. the assessee is a private limited company which has been acting as managing agent of swastik oil mills ltd. since several years past. some time towards .....
Tag this Judgment!Court : Gujarat
Reported in : (1988)70CTR(Guj)180; [1988]172ITR176(Guj)
..... the basis for the levy surtax is the 'chargeable profits' which is defined in section 2(5) of the surtax act ('the act' for short) as follows : '2. (5) 'chargeable profits' means the total income of an assessee computed under the income-tax act, 1961 (43 of 1961), for any previous year or years, as the case may be, and adjusted in accordance with the provisions of the ..... first schedule.'6. section 4 of the act is the charging section.section 5 provides that every company whose chargeable profits assessable under .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]114ITR302(Guj)
..... answer the question raised by the tribunal and to leave the tribunal to take appropriate steps to adjust its decision under section 260, sub-section (1), of the income-tax act, 1961, in the light of the answer of this court. if we direct the tribunal to submit a supplementary statement of the case, the tribunal will, according to the ..... to us that the tribunal has not correctly applied the law for determining as to what is agricultural land for the purpose of section 2(14)(iii) of the income-tax act, 1961, as it stood prior to march 31, 1970. 27. it is true that, ordinarily, the high court has to accept the fact as found by the tribunal ..... desai for the revenue, it is necessary to refer to the relevant sections of the income-tax act, 1961. under the charging section, namely, section 4 of the act, where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, .....
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