Court : Supreme Court of India
Reported in : AIR1973SC2352; [1973]88ITR439(SC); (1973)4SCC175
..... hegde, j.1. this appeal by certificate arises from the decision of the high court of allahabad in a reference under section 66(1) of the income-tax act 1922 (to be hereinafter referred to as the act). the assessee is a hindu undivided family. in this case we are concerned with the assessee's assessment for the assessment year 1950-51.2. the ..... whether the amount of rupees 62,500/- was liable to tax under section 4(1)(b)(iii) of the indian income-tax act?3. the high court answering the first question, came to the conclusion that the notice in question was a valid notice and it was a notice under ..... by the issue of a notice under section 34 of the indian income-tax act fell within the ambit of section 34(1) (a) of the act or under section 31(1)(b) of the act?(2) whether the service of the notice under section 34 of the indian income-tax act by affixture on the residential house of the assessee was legal and proper?(3) .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1976SC2512; [1976]105ITR570(SC); (1976)4SCC325; [1977]1SCR214; 1976(8)LC758(SC)
..... exercise of its inherent powers when that mistake was brought to its notice by the assessee by his application dated april 2, 1956; that section 35 of the income-tax act which provides a period of four years' limitation for seeking rectification of mistakes in assessment orders, was not applicable to assessment orders made by the tribunal under the ..... the capital in the chargeable accounting period of 1945-46 and 1946-47.5. the assessee on july 27, 1951, made an application under section 35 of the income-tax act, 1922 for rectification of its order to the tribunal on grounds other than the one regarding variation in the standard profits due to increase and decrease of the capital ..... the tribunal dismissed that application by an order dated june 9, 1956.8. the assessee had filed a reference application, also under section 66(1) of the income-tax act in these cases. that application was dismissed by the tribunal on august 28, 1951. the assessee then made applications under section 66(2) of the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1976SC437; [1976]102ITR281(SC); (1976)1SCC1001; [1976]2SCR884; 1976(8)LC157(SC)
..... in the usual course. on january 23, 1973, the central board of direct taxes (briefly the central board) sent a notice to (the appellants under section 127 of the income-tax, act, 1961 (briefly the act) proposing to transfer their case files 'for facility of investigation' from the respective income-tax officer at nellore to the income-tax officer, b ward, special circle ii, hyderabad. by this notice they were ..... the proceedings, & shall not render necessary the re-issue of any notice already issued by the income-tax officer from whom the case is transferred.the successor section under the income-tax act, 1961 is section 127 and the same may be set out:transfer of cases from one income-tax officer to another:(1) the commissioner may, after giving the assessee a reasonable opportunity of being heard .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1980SC758; (1980)16CTR(SC)192; [1980]124ITR31(SC); (1980)3SCC482; [1980]3SCR428; 1980(12)LC573(SC)
..... question accordingly.the tribunal, therefore, will dispose of the case conformably to this judgment and the interpretation of the principles enunciated herein under section 260 of the income-tax act, 1961.7. at the outset a serious controversy arose before us on the point whether the high court was right in including a direction in its judgment that the ..... holding that there was no annual value of this property no. 3, gun foundary road and that it was outside the scope of section 22 of the income-tax act, 1961. we hold and we are of the opinion that this property has an annual value in the facts and circumstances of the case and it should be taken ..... s. pathak, j.1. this appeal by special leave is directed against the judgment of the calcutta high court on a question concerning the computation of income from house property under the income-tax act, 1961.2. the assessee, a private limited company, is the owner of the property described as 3, gun foundry road. originally it housed a jute baling .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1981SC1922; (1981)24CTR(SC)358; [1981]131ITR597(SC); 1981(3)SCALE1315; (1981)4SCC173; [1982]1SCR629
..... be liable to be added as part of capital gains taxable under the provisions of the income tax act, 1961. this would be an anomalous result which could never have been contemplated by the legislature, since the income tax act, 1961 and the gift tax act, 1958 are parts of an integrated scheme of taxation and the same amount which is chargeable ..... of consideration in a transfer of property is a necessary condition for attracting the applicability of section 52 sub-section (2) of the income tax act 1961 (hereinafter referred as the act) or it is enough for the revenue to show that the fair market value of the property as on the date of the transfer ..... 82 in list i of the seventh schedule to the constitution which deals with 'taxes on income' and under which the income tax act, 1961 has been enacted, parliament cannot 'choose to tax as income as item which in no rational sense can be regarded as a citizens income or even receipt. sub-section (2) would, therefore, on the construction of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2002]254ITR791(SC)
..... the assessment for the year ending on december 31, 1968, completed on october 4,1969. subsequently, however, the assessment was reopened under section 147(a) of the income-tax act, 1961, to bring to tax a sum of rs. 54,485 in respect of interest suspense account. it is, however, according to the assessee, the sums representing interest on loans, recovery of which ..... circular dated october 6, 1952, would govern the case and the reopening was not justified and on a reference before the high court under section 256(1) of the income-tax act, the high court answered the reference in favour of the assessee upon recording its approval on to the order of the tribunal. 5. the records depict that two ..... that in terms of a notice under section 147(a) of the act, the assessment was reopened and a sum of rs. 54,485 was subjected to tax on the ground that the interest accrued and due on the loans advanced by the bank was the income of the bank for the relevant assessment year and the assessee has failed .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1991SC2035; (1990)89CTR(SC)154; [1991]187ITR696(SC); JT1990(4)SC358; 1990(2)KLT940(SC); [1990]Supp1SCR473
..... the revenue the high court granted certificate under article 133 of the constitution. hence these appeals.4. the learned single judge held that section 171 of the income tax act does not apply to a case where the division was effected before the commencement of the accounting period, and the huf having received no ..... hindu undivided family. under that section there was no provision in the nature of explanation to section 171 of the income tax act. this court had no occasion to interpret section 171 instead the court interpreted section 29 of that act which is quite different from section 171, therefore the appellant cannot draw any support from that decision. in kaloomal tapeshwar ..... 21.2.1963. she further alleged that the. division of tavazhi into 14 shares was effected by a civil court decree in partition suit no. o.s. 22/1961 in the court of kozhikode. it was pointed out on behalf of the respondent that the partition suit was decreed and the properties were allotted to the respective share .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2004SC3830; (2004)190CTR(SC)1; 2004(176)ELT3(SC); [2004]268ITR273(SC); JT2004(5)SC300; 2004(6)SCALE141; (2004)7SCC33
..... . the said search and seizure operations were carried out by r.d. mahadeshwar, assistant director of inspection, income-tax department bombay, pursuant to authorization from commissioner of income tax in terms of section 132 of income tax act, 1961. gopaldas, appellant no. 1, was present at the time of search. the income tax authorities gave intimation of the concealed gold bars to the gold control officer, who was informed about ..... 1.7.1950. appellant no. 1 was born on 16.2.1950. udhav's grandmother bhojibai died on 4.7.1951. on august 28, 1974, the income tax commissioner issued an authorization under section 132 of the income tax act 1961 authorizing search and seizure at gopi kunj, situate at shivaji park, bombay, being the residential premises of appellant no. 1. pursuant to the authorization, r .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1997SC2155; (1997)139CTR(SC)436; [1997]224ITR619(SC); JT1997(3)SC460; 1997(2)SCALE548; (1997)10SCC81; [1997]2SCR746
..... tulsidas kilachand and ors. v. commissioner of income-tax, bombay city : [1961]42itr1(sc) had held that the aforesaid observations apply to the provisions of indian income tax act and section 16 thereof which has been enacted with the intent and for the same purpose. chapter v of the indian income tax act, 1961 is also designed for the same purpose, ..... : [1995]216itr826(sc) , but in the said case clause (iv) of section 64(1) of the income tax act, 1961 came up for consideration as to whether in computing the total income of an individual all income which arises directly or indirectly to a minor child can be included or not. it is in that connection this ..... , answering the question posed in favour of the revenue and against the assessee. the income tax appellate tribunal (chandigarh bench) referred the following question to the high court for being answered under section 256 (1) of the income tax act, 1961 namely :whether the tribunal has been right in law in deleting the addition on account .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2001]247ITR150(SC); 2000(7)SCALE666; [2000]Supp5SCR111
..... approached the tribunal. the tribunal held that the profit on the sale of agricultural lands was not capital gains within the meaning of the provisions of the income tax act, 1961. from the order of the tribunal the question aforestated was referred to the high court. pending the reference, the assessee filed in the high court the ..... case, the tribunal was right in holding that the profit arising from the sale of agricultural lands did not amount to capital gains within the meaning of income tax act, 1961 ?' the reference related to the assessment years 1981-82 and 1983-84.2. in the previous years relevant to the assessment years 1981-82 and 1983 ..... (1a) and clause (iii) of sub-section (14) of section 2 of the income tax act, 1961 and to declare that capital gains arising from the sale of agricultural lands within a municipal area were not liable to capital gains tax under the income tax act, 1961. the high court dismissed the writ petition and answered the reference against the assessee.3. .....
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