Court : Mumbai
Reported in : [1965]57ITR285(Bom); 1966MhLJ37
..... the tax. the proceedings ultimately culminate in an assessment ..... section 23. in brief, thus, income-tax is charged on an assessee in respect of the total income derived by him from the various heads of his income chargeable to tax and computed in the manner provided in the act. all the provisions of the income-tax act ultimately are directed towards the ascertainment of the total income, bringing it to tax, and the recovery of tax from persons liable to pay .....
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Reported in : [1974]94ITR34(Bom)
..... (the respondent) had jurisdiction to initiate proceeding for reopening the assessment of the petitioner for the assessment year 1950-51, under section 147(a) of the income-tax act, 1961 (hereinafter referred as 'the act'), and whether such initiation of proceedings is justified having regard to the conditions precedent to be fulfilled before the provisions of the said section can be attracted. 2. the petitioner ..... 26, 1966, a notice was issued under section 148 of the act informing the petitioner as under : 'whereas i have reason to believe that your income chargeable to tax for the assessment year 1950-51 has escaped assessment within the meaning of section 147 of the income-tax act, 1961; i, therefore, propose to reassess the income for the said assessment year and i hereby require you to .....
Tag this Judgment!Court : Mumbai
Reported in : [1977]106ITR932(Bom)
..... restrictions on the enjoyment or management of the property which are to be found in the portuguese civil code do not contravene any requirement of section 26 of the income-tax act, 1961. the tribunal was, therefore, right in the view which it took that section 26 applied, and the question referred to us must be answered against the commissioner. ..... of mr. joshi's contention that the shares of the husband and wife in communion property are not definite and ascertainable within the terms of section 26 of the income-tax act, 1961, are articles 1104, 1216 and 1220. in my opinion, however, none of the said three articles really help mr. joshi. article 1104 applies only to ..... the subsistence of the communion, the share of either spouse can be said to be definite and ascertainable within the meaning of those terms in section 26 of the income-tax act, 1961. article 1120 lays down that the husband is not allowed to repudiate any estate without the consent of the wife, but the liability, if any, for ' .....
Tag this Judgment!Court : Mumbai
Reported in : [1976]103ITR563(Bom)
..... well as the revenue, under section 66(1) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'). the assessee is a private limited company holding shares in other companies. its total income for the assessment year 1960-61 was determined at rs. 55,975. this total income included an item of rs. 17,027 representing dividends on the ..... purpose of the present case. the operative part of section 55 makes it clear that what is described as super-tax in this act is an additional duty of income-tax. how the total income for the purpose of super-tax is to be calculated is laid down in section 56. under that section, except in cases to which section 15a ..... objection on behalf of the revenue the tribunal permitted the assessee to urge such a contention. this contention was, if the income-tax officer intends to take action under section 23a(1) of the act for levying super-tax upon the assessee-company, it was obligatory upon him to issue a notice as contemplated by section 34. as in .....
Tag this Judgment!Court : Mumbai
Reported in : (1986)52CTR(Bom)338; [1986]160ITR650(Bom)
..... reference under section 256(1) of the income-tax act, 1961, is as follows :'whether, on the facts and in the circumstances of the case, the levy and charge under the industrial tax rules, 1927, which had the force of law in the erstwhile holkar state of indore amounted to income-tax or super-tax or tax on profits of business ?'2. the ..... para 2 of that order runs as follows :'in making any assessment under the indian income-tax act, 1922, all depreciation actually allowed under any laws or rules of a part b state relating to income-tax and super-tax, or any law relating to tax on profits of business, shall be taken into account in computing the aggregate depreciation ..... , etc., of the assessee for calculating the depreciation allowance under section 10(2)(vi) of the indian income-tax act, 1922 (referred to hereinafter as 'the act of 1922'). the assessee relied upon section 10(5)(b) of the act of 1922 and contended that the original cost of the machinery, etc., should be taken into account for .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1955Bom255; (1955)57BOMLR77
..... order passed by the income-tax officer levying penal interest under s. 18a(8), income-tax act? chagla, c.j.1. the income-tax officer imposed penal interest upon the assessee under section 18a(8), income-tax act in the sum of rs. 3549-11-0 for the assessment year 1947-48 and a ..... were referred to the high court:- (1) whether the order passed by the appellate assistant commissioner dated 13-2-1952 is an order passed under s. 31, income-tax act and an appeal lies to the tribunal from it?(2) whether on the facts and circumstances of the case an appeal lies to the appellate assistant commissioner from an ..... got priority over all debts of a company, the company in this case being liable to pay advance tax, and what was urged before the madras high court was that an advance tax was not a tax within the meaning of the income-tax act in respect of which the state had a prior charge. this contention was rejected by the madras .....
Tag this Judgment!Court : Mumbai
Reported in : 1992(3)BomCR256; [1992]195ITR810(Bom)
..... amend the law relating to income-tax and super-tax.' mr. kakodkar further argued quoting various provisions under the income-tax act, 1961, to show that the power or authority to charge income-tax is given by the legislature under section 4 read with section 28 of the income-tax act, 1961. it was further contended that after going through the substantive provisions of the income-tax act, 1961, income-tax is a tax on actual income received and not on ..... an imaginary income. according to him, under section 295, the .....
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Reported in : [1995]213ITR145(Bom)
..... ), or the companies (profits) surtax act, 1964 (7 of 1964), if the following conditions are fulfilled, namely :- (i) the declarant ..... included in the total income. - (1) the amount of the voluntarily disclosed income shall not be included in the total income of the declarant for any assessment year under the indian income-tax act, 1922 (11 of 1922), or the income-tax act, 1961 (43 of 1961), or the excess profits tax act, 1940 (15 of 1940), or the business profits tax act, 1947 (21 of 1947), or the super profits tax act, 1963 (14 of 1963 .....
Tag this Judgment!Court : Mumbai
Reported in : (1993)114CTR(Bom)190; [1993]202ITR161(Bom)
..... dr. b.p. saraf, j. 1. by this reference under section 256(1) of the income-tax act, 1961 (for short 'the act'), at the instance of the assessee, the income-tax appellate tribunal has referred the following question of law for opinion : 'whether, on the facts and in the circumstances of the case, the sum of rs. 35,017. ..... , 'the 1922 act'), as it then stood. the supreme court referred with approval to the following observation of lord russel in the above case (at page 15 of 34 ..... or implied, in the act.' 6. while arriving at this conclusion, the supreme court also referred to the decision of the privy council in cit v. s. m. chitnavis [1932] 6 itc 453, where a bad debt was held to be an admissible deduction, though there was no specific provision for allowance of bad debts in the indian income-tax act, 1922 (for short .....
Tag this Judgment!Court : Mumbai
Reported in : [1999]237ITR82(Bom)
..... this court for opinion at the instance of the assessee :'whether, on the facts and in the circumstances of the case, the deduction under section 54 of the income-tax act, 1961, was available in, computing the capital gain arising from the sale of the property known as 'aden hall' ?'2. the relevant assessment year is 1962-63. ..... subject to the same duties, responsibilities and liabilities as if the income were income received by or accruing to or in favour of him beneficially ..... is assessable in the hands of the assessee must be the income of the trust received by it on behalf of the assessee. it is apparent from section 161(1) of the income-tax act, 1961, that a representative assessee, that is to say a trustee, as regards the income in respect of which he is a representative assessee, is .....
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