Court : Gujarat
Reported in : [1977]108ITR181(Guj)
..... modification of the terms of the agreement between the parties. in our opinion, the tribunal has overlooked the provisions of section 92, proviso (4), of the indian evidence act, and has also overlooked the fact that the contracting parties, namely, the bank of baroda and the assessee-company, were the only two parties concerned who were ..... the industrial development bank instead of to the refinance corporation for industry ltd. 36. the attention of the tribunal was drawn to the resolution passed by the board of directors of the assessee-company on july 24, 1963, but the tribunal held that the there must have been correspondence between the assessee-company and the ..... by the acceptance of the counter-proposal, nothing further was required to be done and we find from the contemporaneous document, namely, the minutes book of the board of directors of the assessee-company held on july 24, 1963, that the bank had informed the assessee-company that the refinance corporation for industry ltd. had .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]103ITR715(Guj)
..... coming to this conclusion, the high court observed that where the assessee claims deduction of interest paid on capital borrowed under section 10(2)(iii) of the indian income-tax act, 1922, all that the assessee has to show is that the capital which was borrowed was used for the purpose of the business of the assessee in the ..... this assessment to income-tax in the relevant assessment year the claim of the assessee to deduction of interest so paid under section 10(2)(iii) of the indian income-tax act, 1922, was rejected on the ground that the plant and machinery were not used for business in the year of account. the high court held that the ..... assessee carries on several distinct and independent businesses, and one of such businesses is closed before the previous year, he cannot claim allowance under section 10 of the indian income-tax act of 1922, of an outgoing attributable to the business which is closed against the income of his other business in that year. it was further observed that .....
Tag this Judgment!Court : Gujarat
Reported in : (1963)0GLR665; [1964]54ITR91(Guj)
..... june, 1953, could not be regarded as a minor. it was strongly urged on behalf of the assessee that, under the provisions contained in section 30 of the indian partnership act, laxmansinhji had, within six months of the date of his attaining majority, a right to elect to that effect and that under the provisions contained in section 30 ..... made to us for the purpose of decision of the following question : 'whether the assessee firm is entitled to renewal of registration under section 26a of the indian income-tax act for the assessment year 1954-55 ?'3. the short point fort determination is whether it was obligatory on laxmanshinhji to sign the application for renewal that had ..... on 23rd april, 1954. the relevant rule which we have to consider in this connection is rule 6 framed by the board of revenue in exercise of the powers conferred upon it by section 59 of the indian income-tax act, 1922. that rule runs as under : 'any firm to whom a certificate of registration has been granted under rule .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]104ITR206(Guj)
..... of plant and machiner;y forms part of the 'actual cost' of the assets to the assessee within the meaning of the expression in section 10(5) of the indian income-tax act, 1922, and the assessee will be entitled to depreciation allowances and development rebate with reference to such interest also. it was further held by the supreme court that, as ..... the rival contentions it is necessary to refer to the provisions of the relevant rules which were in force, being indian income-tax rules, 1922. under rule 8 it was provided as follows : 'the allowance under section 10(2)(vi) of the act in repect of depreciation of buildings, machinery, plant or furniture shall be at percentage of the written down value .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]103ITR405(Guj)
..... circumstances of the case, the transactions resulting in a loss of rs. 3,40,443 were speculative transactions for the purposes of section 24 of the indian income-tax act, 1922, merely on the ground that the assessee had not performed the contracts by giving delivery and has paid damages in settlement of the obligations contracted ..... commissioner found after the remand that, as the forward contracts were speculative transactions within the meaning of the 2nd explanation to section 24(1) of the indian income-tax act, 1922, the loss arising therefrom could be set off only against the profits arising from the other speculative transactions by reason of the first proviso to section ..... question of set-off of illegal speculative losses is to be examined from the angle of the provisions contained in section 24 and section 10 of the indian income-tax act, 1922, and an assessee is not deprived of his rights to claim set-off illegal losses against his other business income while computing his profits .....
Tag this Judgment!Court : Gujarat
Reported in : (1965)6GLR958
..... this under cover of his duty to prepare a correct panchnama and a correct report and there is no escape from the conclusion that the acts by which the office under section 218 of the indian penal code was alleged to have been committed by the appellant were done by him under colour of a duty laid down him by the ..... maharashtra 66 bom. l.r. 799. in that case the accused a police constable was prosecuted under section 161 of the indian penal code section 5(1)(d) read with section 5(2) of the prevention of corruption act on a charge of accepting illegal gratification as a motive for releasing a person whom he had arrested on suspicion. the prosecution ..... duty or authority as is set out ia section 159. the argument is that the act was under colour of duty imposed by the provisions of the bombay police act and also by the provisions of the indian penal code and criminal procedure code. whether or not a particular act is under colour of duty is a question of fact and this position is conceded .....
Tag this Judgment!Court : Gujarat
Reported in : AIR2010Guj21
..... out of the surrogate mother, legal, moral, ethical. rights, duties and obligations of the donor, gestational surrogate and host of other issues.20. further, under the indian evidence act, no presumption can be drawn that child born out of a surrogate mother, is the legitimate child of the commissioning parents, so as to have a legal right to ..... be a woman who gives birth to a baby. attempts made to adopt manji also did not fructify since guardian wards act, 1890 did not allow single man to adopt those babies. efforts were made to obtain indian passport, which also required a birth certificate. question arose as to who was the real mother whether it was anonymous ..... of the two babies has already been established, they are born in this country to a surrogate mother, an indian national, and hence citizens of india within the meaning of section 3(1)(c)(ii) of the citizenship act.19. a comprehensive legislation dealing with all these issues is very imminent to meet the present situation created by .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]104ITR551(Guj)
..... in this contest that the question of considering whether the amount waived by the assessee concerned was a taxable expenditure under section 10(2)(xv) of the indian income-tax act, 1922, also has been considered in some other cases. the position as regards income falling under the head 'salaries' is altogether different from the income ..... tax. on these facts the madras high court held that the terms of the agreement and the functions assigned to the assessee and the reservation to the board of directors of the right of superintendence, direction and control showed that the relationship between the company and the assessee was that of employer and employee, and ..... particular clause of the managing agency agreement the commission was due to the assessee on december 31, 1954, and december 31, 1955, respectively. by resolutions of its board of directors dated april 4, 1955, and june 19, 1956 (that is after the commission had become due but before it had become payable) the assessee relinquished .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]112ITR973(Guj)
..... a combined review of all the decisions, the following tests and principles were laid down to determine the applicability of the corresponding section 34(1)(b) of the indian income-tax act, 1922, to the following categories of cases - see : [1976]102itr287(sc) : '(1) where the information is as to the true and correct state ..... base of the company, even though the directors had merely made a recommendation and the authority for the reserve came subsequently by resolution of the general board which would take back effect for creation of the reserve. the whole law has been exhaustively dealt with and the decisions of the various high courts were ..... general opinion expressed by a person not qualified, experienced or acquainted with the subject-matter was held to amount to 'information' on which the officer might act for reopening a completed assessment. this view was taken because otherwise the salutary safeguards would be rendered illusory and the action of reassessment would result in .....
Tag this Judgment!Court : Gujarat
Reported in : [1969]73ITR171(Guj)
..... he would have been able to exercise.' 15. in that case, the division bench of this court was dealing with proviso (1) to section 16(1) (c) of the indian income-tax act, 1922; and the proviso in question was as follows : 'provided that for the purposes of this clause a settlement, disposition or transfer shall be deemed to be recoverable if ..... 30, 1959. the controller included the value of that house in the principal value of the estate that passed on the deceased's death, under section 10 of the act. the board found that, though the deceased had gifted the house four years before his death, he still continued to stay in the house till his death as the head of the ..... gift, the amount was includible in the principal value of the estate of the deceased under the provisions of section 10 of the act. thereafter there was an appeal to the central board of revenue and the board held that the credit balance of the deceased in the account books of the firm was an actionable claim and as there was no .....
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