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Assam Co-operative Apex Bank Ltd. Vs. Commissioner of Income-tax and a ...

Court : Guwahati

..... a co-operative bank registered under the assam co-operative societies act, 1949, and that its business income would be exempt from payment of income-tax under section 81 of the income-tax act, 1961 (hereinafter called 'the act'), which (as it then stood) reads as under : '81. income-tax shall not be payable by a co-operative society--(i) in ..... order of the commissioner is within his jurisdiction and competence, but in view of the fact that no appeal, revision or review lies under the income-tax act against that order, this application under article 226 of the constitution cannot be dismissed on the ground that the petitioner did not exhaust the statutory ..... that an alternative remedy was open to the petitioner, which the petitioner did not exhaust. the learned standing counsel further submitted that the income-tax act is a self-contained act and that the remedies available thereunder should first be availed of before the petitioner could seek relief under article 226 of the constitution of .....

Ramkrishna Ramnath Vs. G. Lakshmi Narsimhan

Court : Mumbai

Reported in : AIR1970Bom30; 1969MhLJ574

..... under section 34 have not been issued in the present case and the notices that are issued are under section 23(2) of the income-tax act, 1922 or under section 143(2) of the income-tax act, 1961. even if the notices that are issued are described as under section 23 (2), they could be taken to be as notices under ..... assessment and the dates on which the assessee was required to attend the income-tax office. one such notice may be reproduced below. it runs:'notice under section 23(2) of the indian income-tax act, 1922/under section 143(2) of the income-tax act, 1961.dated 6-4-1967.no. rule 201.to,ramkrishna ramnath(huf). kamptee. dear sir ..... to the assessee.4. on 6th of april 1967 the income-tax officer, central circle iii, nagpur, issued notices dated 6th april 1967 for each of these seven years to the assessee under section 23(2) of the indian income-tax act, 1922 or section 143(2) of the income-tax act, 1961. all the notices are similar in substance excepting the year of .....

Joint Committee of Action, B Group Merchants, Bombay Vs. Commissioner ...

Court : Mumbai

Reported in : [1963]48ITR427(Bom)

..... of profits made by the assessee, and the assessee ceased to function as an association. 3. on the 24th january, 1955, the income-tax officer issued a notice under section 34 of the indian income-tax act, on wadilal chaturbhuj as ex-president of the association described as 'the joint committee of action, b group merchants, of m. j ..... high court in rajareddy mallaram v. commissioner of income-tax and also by the punjab high court in sumat parshad v. income-tax officer, a-ward, bhatinda. however, in c. a. abraham v. income-tax officer, kottayam, where the supreme court was considering the provisions of section 44 of the indian income-tax act, it took the view that the expression ..... by reason of the provisions of section 44 of the income-tax act. following this decision of the supreme court,this court has taken the view in ramniwas hanumanbux somani v. s. venkataraman, income-tax officer, c-iii ward, bombay that it is open to the income-tax officer to issue a notice under section 34 to the firm .....

Bhailal AmIn and Sons Ltd. Vs. R.P. Dalal

Court : Mumbai

Reported in : [1953]24ITR229(Bom)

..... could lie against the decision of that person or officer to this court. the mere fact that the appellate tribunal is constituted under the indian income-tax act a tribunal for hearing appeals pending before the huzur adalat cannot therefore avail the petitioners in obtaining a right of obtaining reference which is expressly ..... an ordinary tribunal a constituted under the indian income-tax act for deciding questions which arose under the indian income-tax act, but it was approached as a tribunal which was performing the functions of the huzur adalat of the baroda state under the baroda state income-tax act. the baroda state income-tax act provided no right of reference or appeal ..... is that once the appeal was heard by the appellate tribunal it was resorted to by the petitioners as an ordinary court constituting under the indian income-tax act and that to that decision the normal incidents relating to reference attached. win my view the argument proceeds upon a fallacy. the appellate tribunal .....

Ambalal Himatlal Vs. Commissioner of Income-tax and Excess Profits Tax ...

Court : Mumbai

Reported in : [1951]20ITR280(Bom)

..... of money-lending secondly of running a ginning factory and lastly a share business. it is also found as a fact that only the money-lending business had paid tax under the income-tax act of 1918. on these facts the assessee claims the concessions laid down is section 25(4) on the ground that his business had been succeeded to by other ..... before us a very interesting and ingenious argument based on the construction of section 25(4) of the income-tax act. the facts are that the assessee before us who is an undivided hindu family of one himatlal was assessed for the first time to tax for the assessment year 1921-22. this joint family was disrupted on the 26th of october 1943. ..... we find that the high court of orissa has in the case of nopram ramgopal v. commissioner of income-tax, bihar and orissa, taken the view that it is the business which was in existence and which had been assessed to tax under the act of 1918 and not the person who is entitled to this relief. even the high court of allahabad .....

Cable and Wireless Ltd. Vs. V.H. Gangal and anr.

Court : Mumbai

Reported in : [1973]90ITR84(Bom)

..... the finding made by the first respondent are challenged in this petition various grounds, including the ground that if the construction and effect of section 46 of the income-tax act was in accordance with the findings made by the first respondent, the section was unconstitutional and contravened the petitioner's fundamental rights guaranteed under article 14 of the ..... distribution of moneys/assets was made by financial payment of rs. 2,39,934 in the 'previous year' on september 18, 1961. he, therefore, held that the assessee-company was liable to pay income-tax for the above assessment year on the footing that the whole of the aggregate sum of rs. 81,32,335 less the ..... over by the government of india with effect from january 1, 1947, and went into voluntary liquidation from may 11, 1949. between september, 1949, and september, 1961, this indian company in liquidation paid five different amounts aggregating to rs. 1,10,26,921 to the assessee-company. out of these, two payments were made out .....

Arvind N. Mafatlal Vs. Income-tax Officer, North Satara

Court : Mumbai

Reported in : AIR1957Bom134; (1957)59BOMLR268; ILR1957Bom428; [1957]32ITR350(Bom)

..... the phaltan state income-tax act has been repealed an order under section 35 of the income-tax act rectifying a mistake in an assessment order passed by the income-tax officer cannot be passed. even though the phaltan state income-tax act has been repealed by the taxation laws (extension to merged states and amendment) act, 1949, for purposes of levy, assessment and collection of income-tax and super-tax the phaltan income-tax act does survive ..... . in the return made by the assessee company, a claim was made that the amount received from the transferor be processed under section 16(2) and 18(5) of the income-tax act. the taxing authorities refused to grant to the assessee company the rights and concessions permissible under section 16(2) and 18(5) because the certificates under section 20 of the .....

South India Insurance Company Ltd. Vs. Commissioner of Income-tax, Bom ...

Court : Mumbai

Reported in : [1977]106ITR969(Bom)

..... , in which it was observed that the assessment of the profits of an insurance business is completely governed by the rules in the schedule to the income-tax act and the income-tax officer has no power to do anything not contained in the rules to be found in the schedule. it was held that there is no general right ..... was also dismissed by him. according to the appellate assistant commissioner, this was not allowable expenditure under section 10 of the indian income-tax act, 1922. 7. the assessee-company thereupon preferred an appeal to the income-tax appellate tribunal, in which six contentions were taken as are set out in para. 5 of the statement of the case. one ..... its logical extension by the supreme court in pandyan insurance co. ltd. v. commissioner of income-tax : [1965]55itr716(sc) , where it was observed that rule 3(b) of the schedule to the indian income-tax act, 1922, did not empower the income-tax officer to adjust the accounts of an insurer on the basis of a re-valuation made by .....

Commissioner of Income-tax, Bombay City Ii Vs. Union Co-operative Insu ...

Court : Mumbai

Reported in : [1963]49ITR533(Bom)

..... joshi that the liability, not being a crystallised liability and being in the nature of a contingent liability could not be regarded as an expenditure deductible under the indian income-tax act, mr. kolah argues that the liability is in reality a liability which is incurred although the quantum thereof would be ascertained at a later date. according to mr. ..... were to be made so as to exclude the expenditures which were included in arriving at the said figure and which were not permissible under section 10 of the income-tax act. in other words the adjustment was permissible so as to increase the amount and not to reduce it by allowing the deductions. 8. mr. kolah, learned ..... the purpose of business. according to mr. joshi, therefore, the assessee was not entitled to claim those amounts as deductions under rule 6 of the schedule to the income-tax act. 5. mr. joshi's next argument was that even if the payment of bonus was to be regarded as an expenditure incurred for the purposes of the business .....

Commissioner of Income-tax, Bombay Vs. Abdul HusseIn Essaji Arsiwalla

Court : Mumbai

Reported in : [1968]69ITR174(Bom)

..... be contrary to the language of the provision. in our opinion, therefore, on a proper construction of the provision of section 9(1)(iv) of the indian income-tax act, the only amount which was claimable by the assessee in respect of the ground rent of the property was the ground rent for the period of the previous ..... rent to which the property was subject. 2. the assessee is the owner of one half share in certain properties, which are assessed to tax under section 9 of the indian income-tax act. the assessment year in question is 1958-59 for which the relevant previous year was the financial year ended on 31st march, 1958. the ..... is subject in the computation of the income from property computed under section 9 of the indian income-tax act. 4. now, the income-tax chargeable under the indian income-tax act is annual in its structure and organisation. under section 3 of the act, which is the charging section, tax is charged in respect of the total income of the previous year. each previous year .....