Court : Jammu and Kashmir
Reported in : [2001]247ITR549(J& K)
..... reference under section 27(1) of the wealth-tax act, 1957 ('the act') (erroneously numbered as income-tax reference), at the instance of the revenue, the income-tax appellate tribunal, amritsar bench, amritsar ('the tribunal'), has referred the following question of law to this court for opinion : 'whether, on the facts and in the circumstances of the case, the tribunal was correct in law in confirming the order of the commissioner of income-tax (appeals) quashing the assessment framed by the wealth-tax officer following ..... case, the supreme court considered at length the question whether the wealth-tax act (minus agricultural land) related to entry 86 of list i (union list) of the seventh schedule as contended by the revenue or entry 97 of list iii (concurrent list) as contended by the assessee and held (page 633) : 'the language of entry 86 also clearly indicates that the tax is upon individuals and not directly upon the assets or upon ..... was a referable question of law and the tribunal should have referred the same instead of referring the question 'whether the tribunal was correct in law in confirming the order of the commissioner of wealth-tax (appeals) quashing the assessment order framed by the wealth-tax officer following the decision of this court in p. c. ..... the real controversy in this case is in regard to the legislative competence of parliament to enact the wealth-tax act in relation to the state of jammu and kashmir in view of the special provision contained in article .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : [2000]246ITR603(J& K)
..... on the facts and in the circumstances of the case, the tribunal is right in law in considering in the course of and for the purpose of disposing of an appeal with regard to levy of penalty for default under section 18(1)(a) of wealth tax act, 1957 a challenge to the validity of the assessment order which was in fact final and conclusive?2. ..... by this reference under section 27(1) of the wealth-tax act, 1957 ('act') (erroneously numbered as income-tax reference), the income-tax appellate tribunal, amritsar bench, amritsar ('tribunal') has referred the following three questions of law to this court for opinion at the instance of the revenue ..... section 143(3) of the income-tax act, section 16(3) of the act also provides that the assessing officer shall, by order in writing, assess the net wealth of the assessee and determine the tax payable on the basis of such assessment. ..... objecting to the amount of net wealth determined under the act or objecting to the amount of wealth tax determined as payable by him under the act or denying his liability to be assessed under the act may appeal to the appellate assistant commissioner under clause (a), (b) and (c) of section 23(1) of the act respectively. ..... is the same under the wealth-tax act, 1957('act'). ..... , the assessment order ; it is sufficient compliance with the requirements of section 143(3) of the income-tax act ,1961 if the tax payable is also computed and the computation is approved by the income-tax officer ,either immediately or some time .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : AIR1997J& K132
..... -1 of section 5 of the wealth tax act, 1957, extracted above, the court will have to see whether the jewellery in possession of any ex-ruler found to be his personal property which has been recognised as such before the commencement of the wealth tax act, 1957, it is for the central government to decide whether any of these articles are heirlooms or where such recognition exists, the board, as defined under the said act, will have to examine and record finding for purposes of assessment of tax under the said act of 1957.further ..... wealth tax shall become payable by the ruler for all the assessment years after such commencement for which the jewellery was exempted on account of the recognition. ..... . but it is seen, there is no specific foundation laid in the writ petition, much less it is argued in the appeal that the petitioner's claim is based upon the right of inheritance under the (sic) undivided hindu family (huf) invoking the general provisions of inheritance by huf ..... question remains whether the petitioner has taken any action to bring all these 563 articles to be taxed and thereby claimed exemption the overwhelming answer to this is emphatically, no, because even after inspection by the experts committee appointed by the hon'ble supreme court, after submitting the report by the said committee, it was not the case of the petitioner that he has taken action to bring all these articles within the assessment order under the wealth tax act, 1957. .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : [2000]246ITR607(J& K)
..... 7 of 1979), it has been held that it will be sufficient compliance with the requirements of section 16(3) of the wealth-tax act, 1957, if the tax payable is also calculated and the assessing officer approves the same by putting his signature thereon. ..... this is a reference under section 27(1) of the wealth tax act, 1957 (erroneously numbered as income-tax reference). ..... the tribunal cannot consider the challenge to the validity of the assessment order, which has become final and conclusive, in an appeal against the order of the appellate assistant commissioner passed on an appeal against an order of penalty under clause (d) of section 23(1) of the wealth- tax act. ..... mubarak shah naqshbandi, srinagar applies to this case?ii) whether, on the facts and in the circumstances of the case, the tribunal is right in law in cancelling the penalty order on the ground that there was no legally determined wealth, when the assessment order determining the wealth passed on 27.3.1971 has already become final?iii) whether, on the facts and in the circumstances of the case, the tribunal is right in law in deleting the penalty of rs.27, 536/- imposed u/s 18(1)(a)?'2. ..... once the assessing officer signs both the sheets, that is, the assessment order sheet and the tax calculation sheet, the assessment process is complete in accordance with the requirements of section 16(3) of the act. 4. .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : (2001)165CTR(J& K)347,[2001]246ITR603(J& K)
..... the facts and in the circumstances of the case, the tribunal is right in law in considering in the course of and for the purpose of disposing of an appeal with regard to levy of penalty for default under section 18(1)(a) of the wealth tax act, 1957, a challenge to the validity of the assessment order which was in fact final and conclusive ?2. ..... j.by this reference under section 27(1) of the wealth tax act, 1957, (hereinafter referred to as 'the act') (erroneously numbered as income-tax reference), the income tax appellate tribunal, amritsar bench, amritsar (hereinafter referred to as 'the tribunal'), has referred the following three questions of law to this court for opinion at the instance of the ..... assessment order ; it is sufficient compliance with the requirements of section 143(3) of the income tax act, 1961, if the tax payable is also computed and the computation is approved by the income tax officer, either immediately or some time later.the position is the same under the wealth tax act ..... the sheets, that is, the assessment order sheet and the tax calculation sheet, are signed by the assessing officer, the assessment process will be complete in accordance with the requirements of section 16(3) of the act.in the instant case, there is no dispute about the fact that the tax payable had been duly determined in a separate sheet of paper, namely, assessment order form, which was prepared and signed by the wealth tax officer simultaneously with the assessment order and sent to the .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : [2001]246ITR607(J& K)
..... been held that it will be sufficient compliance with the requirements of section 16(3) of the wealth tax act, 1957, if the tax payable is also calculated and the assessing officer approves the same by putting his signature thereon. ..... under section 27(1) of the wealth tax act, 1957 (erroneously numbered as income-tax reference) ..... to the validity of the assessment order, which has become final and conclusive, in an appeal against the order of the appellate assistant commissioner passed on an appeal against an order of penalty under clause (d) of section 23(1) of the wealth tax act. ..... on the facts and in the circumstances of the case, the tribunal is right in law in cancelling the penalty order on the ground that there was no legally determined wealth, when the assessment order determining the wealth passed on 27-3-1971, has already become final (iii) whether, on the facts and in the circumstances of the case, the tribunal is right in law in deleting the ..... assessing officer signs both the sheets, that is, the assessment order sheet and the tax calculation sheet, the assessment process is complete in accordance with the requirements of section 16(3) of the act ..... '(i) whether, in view of the fact that tax had been properly calculated on a separate calculation sheet duly signed by the wealth tax officer on the same date on which the order computing the taxable wealth has been signed by him, the tribunal is right in holding that the ratio of the decision given by the jammu and kashmir high .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : (1983)35CTR(J& K)194,[1983]142ITR574(J& K)
..... therefore, satisfied that the impugned section is valid, because parliament was competent to legislate in respect of hindu undivided families under entry 86.'12. ..... makers were fully aware that the hindu citizens of this country normally form hindu undivided families and if the object was to levy taxes on the capital value of the assets, it is inconceivable that the word 'individuals' was introduced in the entry with the object of excluding from its scope such a large and extensive area which would be covered by hindu undivided families. ..... therefore, allow these writ petitions and quash the impugned assessment proceedings in each case, and restrain the respondents from levying and collecting any wealth-tax from the respective petitioners on the basis of such ..... section 3 of the act declares that there shall be charged for every assessment year a tax in respect of the net wealth, on the corresponding valuation date, of every individual, huf and company at the rate or rates specified in ..... of law arising for our determination in this group of writ petitions is :'whether the wealth-tax act, 1957 (central act no. ..... the supreme court by a majority decision rejected the challenge and held that the act, as it stood prior to and after the impugned amendment, fell within the residuary powers of legislation enjoyed by parliament under entry 97 ..... which is created by entry 86 of list i 'taxes on the capital value of assets', no longer exists after the decision of this court in sudir chandra nawn .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : (2001)169CTR(J& K)273,[2001]248ITR744(J& K)
..... association, jammu, whereby the board confirmed to the association as under : 'i am directed to refer to your letter dated april 3, 1974, addressed to the finance minister and to confirm that the provisions of clauses (xxxi) and (xxxii) of sub-section (1) of section 5 of the wealth-tax act, 1957, would be applicable to such of the undertakings of the forest lessees as are engaged in the business of extraction of wood from the forest, i.e. ..... kuthiala, vice president, jammu forest lessees association, confirming that the provisions of clauses (xxxi) and (xxxii) of sub-section (1) of section 5 of the wealth-tax act, 1957, would be applicable to such of the undertakings of the forest lessees as are engaged in the business of extraction of wood from forests, i.e ..... question which was referred to the board was whether the forest lessees of jammu and kashmir could be said to be engaged in the business of manufacture of goods and entitled to the benefit of exemption from wealth-tax under clauses (xxxa), (xxxi) and (xxxii) of the wealth-tax act. ..... the board, after obtaining legal opinion from the ministry of law, government of india, issued the following circular on february 22, 1982 (see [1982] 135 itr 7) : 'deductions under section 80hh and 80j of ihe income-tax act in the case afforest lessees-clarification regarding ..... for the assessment year 1975-76, the assessee submitted a revised return and claimed deduction of rs ..... the controversy in this reference pertains to the assessment year 1975-76. .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : 2005(2)JKJ5
..... in coming to the conclusion that the transaction of generation, supply and sale constitutes inter-state sale on account of instantaneous movement of goods from one state to another under section 3 of the central sales tax act, 1956, the supreme court noticed the attributes of inter-state sale in these words:'it is well settled by a catena of decisions of this court that a sale in the course of inter-state trade has three ..... ' while considering the question as to whether electricity is 'goods' or not, the supreme court observed that 'the goods as defined for the purpose of sales tax cannot be taken in a narrow sense and merely because electric energy is not tangible or cannot be moved or touched like, for instance, a piece of wood or a book, it cannot cease to be movable property when it has all ..... petitioner further is that the jammu and kashmir electricity (duty) act was enacted in 1963 but till date rules have not been framed which could facilitate filing of returns, issue of notices, assessment and collection of electricity duty and, thus, there is no machinery to implement the provisions of the act. ..... the use of the word 'whether' after the phrase 'energy produced' means that the cess would apply on units produced, whichever of the alternatives mentioned after the word 'whether', namely, sale or supply or ..... is not something which can be stored after its production. ..... in any view, after such transposition, it did not file any supplementary affidavit/petition to warrant separate .....
Tag this Judgment!Court : Jammu and Kashmir
Reported in : [1975]98ITR311(J& K)
..... industries started manufacture of alcoholic spirits after taking a licence from the government in 1961, it became a new undertaking and was, therefore, entitled to the benefit conferred on such an undertaking by section 84(2)(ii) of the income-tax act. ..... this company claimed rebate in accordance with the provisions of section 84 of the income-tax act, technically known as tax holiday, on the ground that it was a new business and was, therefore, entitled to rebate for a period ..... same business in a new manner and, therefore, the conditions of section 84(2)(i) of the income-tax act were not fulfilled. ..... even if the new company be deemed to be a continuation of the old company, since a new business had been started, the assessee was entitled to tax holiday under section 84 of the income-tax act. ..... , we answer the reference in the affirmative and hold that the tribunal was right in deciding that the assessees were entitled to the exemption provided under section 84 of the income-tax act of 1961. ..... referred to us in both these cases : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the assessee-company was entitled to the exemption provided under section 84 of the income-tax act, 1961 ? ..... the new business, is a pointer to the fact that there was no sale but reconstruction of the old business and, therefore, the case admittedly did not fall within the purview of section 84(2)(ii) of the income-tax act. ..... relate to the assessment years 1965-66 and .....
Tag this Judgment!