Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1987)22ITD117(Hyd.)
..... for the purposes of clause (v) 'oral trust' means a trust which is not declared by a duly executed instrument in writing including any wakf deed which is valid under the mussalman wakf validating act, 1913 (6 of 1913) and which is not deemed under explanation 1 to be a trust declared by a duly executed instrument in writing. ..... any person, such trustee or trustees. explanation 1 : a trust which is not declared by a duly executed instrument in writing including any wakf deed which is valid under the mussalman wakf validating act, 1913 (6 of 1913) shall be deemed for the purposes of clause (iv) to be a trust declared by a duly executed instrument ..... ) in respect of income which a trustee appointed under a trust declared by a duly executed instrument in writing whether testamentary or otherwise (including any wakf deed which is valid under the mussalman wakf validating act, 1913 (6 of 1913) receives or is entitled to receive on behalf or for the benefit of any person, such trustee or trustees. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1992)40ITD1(Hyd.)
..... in respect of income which a trustee appointed under a trust declared by a duly executed instrument in writing whether testamentary or otherwise (including any wakf deed which is valid under the musalman wakf validating act, 1913 (6 of 1913) receives or is entitled to receive on behalf of or for the benefit of any person, such trustee or ..... justified. the payment of salary for services rendered to the business cannot be considered as a device to materialise the provisions of the finance act. such payments would constitute valid deductions.the assessee is a trustee of a trust having income from business. the beneficiaries are known and their shares are determinate. the income ..... in clause (iv) of sub-section (1) of section 160 of the income-tax act (i.e., a trustee appointed under a trust declared by a duly executed instrument in writing, whether testamentary or otherwise, including a wakf deed) is liable as representative assessee consists of or includes profits and gains of business, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)106ITD256(Hyd.)
..... , are two pronged i.e. a) the provisions of sub-section (3) of section 12aa inserted by the finance act, 2004 with effect from 1.10.2004 are merely procedural and come to the rescue of the department in validating the impugned order dated 26.7.2004 by retrospective operation of the amendment; (b)secondly, even prior to insertion of ..... 13 stated to have come to light as a result of search operations conducted under section 132 of the act, warrant cancellation of registration of the assessee? 7.2.c as for the first issue, with regard to the legality and validity of the order dated 26.7.2004, the contentions of the revenue with reference to the legal objections ..... retrospectively and make any imposition of tax declared invalid, valid.7.3.o in the case of kanmarlapudi lakshminarayand chetty (air 1957 ap 159) relied upon by the assessee before us, hon'ble a.p. high court examining the retrospective or otherwise nature of the amendment to the income tax act, by way of insertion of sub-section (5), .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1986)16ITD544(Hyd.)
..... will be the absolute owner of the properties with the absolute right of sale or gift, etc. the assistant controller also further opined that the will is perfectly valid and is in conformity with the provisions of the hindu law. he further held that rajah kanakayya was the sole surviving coparcener and hence he had full power of ..... the will. (v) the learned appellate controller ought to have held that the entire property was dutiable under sections 5, 6 and 7 of the estate duty act, 1953 ('the act'). lastly, it was contended that at least half share of the deceased in the entire property should have been made liable to estate duty.8. we have heard ..... judge that section 14 does not apply inasmuch as the first defendant did not acquire any property in her husband's half share before commencement of the hindu succession act inasmuch as no partition having been effected.according to the plaintiff's counsel the widow did not acquire any interest till she effected a partition. repelling the said .....
Tag this Judgment!