Court : Allahabad
Reported in : [1993]201ITR750(All)
..... was an industrial undertaking within the meaning of section 5(1)(xxxii) of the wealth-tax act, 1957, even though the firm did not manufacture the leather boots itself ?' 3. ..... at the instance of the revenue, two following common questions relating to the assessment year 1974-75 have been referred by the appellate tribunal to this court under section 27(1) of the wealth-tax act, 1957, for its opinion :' 1. ..... whether the income-tax appellate tribunal was correct in law in holding that fabrication of leather boots be regarded as manufacturing or processing of goods within the meaning of section 5(1)(xxxii) of the wealth-tax act, 1957 ? 2. ..... the firm was, therefore, clearly an industrial undertaking and the assessee was entitled to exemption under section 5(1)(xxxii) of the wealth-tax act in respect of his share in the firm.'5. ..... following the aforesaid decisions, we hold that the firm in which the assessees are partners will be characterised as an industrial undertaking within the meaning of section 5(1)(xxxii) of the act despite the fact that it got the leather boots manufactured on job basis from others to whom the raw material was supplied and labour charges were paid on contract basis.7. ..... engaged in the manufacture of leather boots itself but gets the boots manufactured on job basis from contract labourers to whom the aforesaid firm supplies the raw material and then makes payment of labour charges with reference to the pieces manufactured by them. .....
Tag this Judgment!Court : Allahabad
Reported in : [1991]192ITR686(All)
1. under section 27(3) of the wealth-tax act, 1957, the following two questions have been stated by the tribunal :'1. whether the income-tax appellate tribunal was correct in law in holding that preparation of biris from tendu leaves and tobacco can be called 'manufacturing or processing of goods' within the meaning of section 5(1)(xxxii) of the wealth-tax act, 1957? 2. if the answer to the above is in the affirmative, whether the income-tax appellate tribunal was correct in law in holding that the firm, messrs ram kishan daya ram and co., was an industrial undertaking even though the firm did not prepare biris by itself ?' 2. it is brought to our notice that both the questions are concluded in favour of the assessee and against the revenue by the decision of this court in cwt v. mubarakali khan and cwt v. mujahid ali khan : [1980]123itr101(all) , wherein it has been held that preparation of biris from tendu leaves and tobacco can be called 'manufacturing or processing of goods' within the meaning of section 5(1)(xxxii) of the wealth-tax act. if it is manufacturing or processing of goods, it would also constitute an industrial undertaking.3. accordingly, the two questions are answered in the affirmative, that is, in favour of the assessee and against the revenue.4. no costs.
Tag this Judgment!Court : Allahabad
Reported in : [1974]34STC241(All)
..... 361, that depending upon the facts and circumstances of a particular case, it would be open to the assessing authority to make a best judgment assessment in proceedings under section 21 of the sales tax act even in a case where the original assessment was made on best judgment basis.16. ..... 287:'it would be, perhaps, a different story if the sales tax officer had arrived at the original assessment itself to the best of his judgment' indicating a possibility of a construction that in their view once a best judgment has been made it might not be possible to make another best judgment (sic) where required to consider and contended that, in the opinion of the bench, a best judgment assessment under section 21 of the sales tax act cannot be made in a case where the original assessment ..... it does not depend upon the circumstances in which the original assessment under section 7(3) of the act read with rule 41(5) of the u. p. ..... 147 of 1957 decided on 30th july, 1963, accepted the submission made on behalf of the assessee and held that in the proceedings under section 21 of the act the assessee could not be assessed to tax on a turnover in excess of rs. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1961All487; [1962]44ITR94(All)
..... in the wealth tax act itself section 5 (1) (ii) says that the tax shall not be payable by an assessee in respect of the interest of the assessee in the coparcenary property of any hindu undivided family of which he is a member and such assets shall not be included in the net wealth of the assessee. ..... in this petition we are concerned with the vires of the wealth tax act (act xxvii of 1957) so far as it relates to the levy of wealth tax on hindu undivided families. ..... . there is no dispute in the instant case that if the wealth tax act is otherwise valid it would be operative throughout the entire country ..... . their lordships of the supreme court laid down the law as follows: 'when two kartas of two hindu undivided families enter into a partnership agreement the partnership is popularly described as one between two hindu undivided families but in the eye of the law it is a partnership between the two kartas and the other members of the families do not ipso facto become ..... the peculiar nature of a hindu undivided family and the character of the interest which a member may have in the property of the family, it is evident that entry 86 which empowers the imposition of a tax on the capital assets of individuals cannot be extended so as to include not only the individuals as such hut also a collective body in which the individual members have a certain interest and right and to which they owe certain obligations and which collective existence is a concept different from each of those individuals .....
Tag this Judgment!Court : Allahabad
Reported in : (1991)98CTR(All)148; [1992]197ITR269(All)
..... this writ petition is filed challenging the order dated december 21, 1979, under section 18b(1) of the wealth-tax act, 1957 (for short, 'the act'), by which the commissioner of wealth-tax, meerut, has rejected in part an application for waiver or reduction of penalty, filed by one sardar jeewan singh (since deceased), father of the first petitioner. ..... now, a perusal of section 18b(1) of the act would show that these provisions vest the commissioner of wealth-tax with discretion to waive or reduce the amount of penalty imposed or imposable for defaults under clauses (i) and (iii) of sub-section (1) of section 18 of the act, i.e. ..... in our opinion, in the context, the question whether the assessee made a full disclosure of his net wealth or not, has not to be looked into with reference to the net wealth as ultimately evaluated by the wealth-tax officer, but from the point of view of the assessee, i.e. ..... we also direct the commissioner of income-tax (wealth-tax), meerut, the first respondent, to reconsider the application for waiver/reduction for the assessment year 1968-69 and to pass a fresh order in the light of the observations made above and in accordance with law.14. ..... it may be noticed that the provisions of section 18(2a) of the wealth-tax act, 1957, before their deletion, were in pari materia with the present provisions of section 18b(1) of the act. .....
Tag this Judgment!Court : Allahabad
Reported in : [1989]175ITR578(All); [1990]49TAXMAN184(All)
..... this writ petition, the petitioner has impugned the order of the wealth-tax commissioner dated july 19, 1983, whereby he rejected the application of the petitioner seeking waiver under section 18b(1)(i) of the wealth-tax act, 1957,2. ..... contention of the petitioner that he had satisfied all the requirements of section 18b(1)(a) of the wealth tax act was not accepted by the commissioner and he refused to grant waiver. ..... reasoning given by the commissioner was that income-tax was being regularly paid right from the assessment year 1970-71 and that being so, the petitioner could not contend ignorance of the provisions of the wealth-tax act on the part of his guardian. ..... thereupon, the petitioner made an application under section 18b of the act seeking waiver on the ground that returns for all the aforesaid years had been filed by him voluntarily and in good faith before receiving notice under sub-section (2) of section 14 of the act from the authorities and that the wealth disclosed by him was fully accepted by the ..... it is not controverted that returns of wealth were filed by the petitioner in the year 1974 when he attained majority and before receiving any notice from the department under section 14(2) and that the wealth disclosed by him in those returns had been accepted as ..... comes the question whether the requirements of section 18b(1)(a) have been satisfied. ..... is misconceived, inasmuch as the commissioner himself observed that the income-tax returns had been filed on july 18, 1974. .....
Tag this Judgment!Court : Allahabad
Reported in : [1966]61ITR704(All)
..... basappa (the mysore high court laid down that 'debts owed' in section 2(m) of the wealth-tax act 'must be held to include both debts payable at once as well as those payable in future' and that 'it also includes debts which are ascertained as well as those that are not ascertained'. ..... we are not concerned with the interpretation of section 2(m) of the wealth-tax act and admittedly there was no debt solvensdum in praesenti because the assessment itself had not been done. ..... the learned judges held that all liabilities are not debts within the meaning of section 2(m) of the wealth-tax act and that only debts solvendum in praesenti can be deducted. ..... again the learned judge made the observation in connection with the question whether the liability to be assessed to income-tax and to pay the tax is conditional on the validity of a notice issued under section 22 of the income-tax act and not with the question when a debt to pay the tax comes into existence. ..... sweeny was one of the doctors who worked under the agreement with the committee, the committee received funds from the national insurance commissioners and it was held that there was a debt owing to dr. ..... 27 of 1957, to mean aggregate value of the assets of a person which is in excess of the aggregate value of 'all the debts owed' by him barring certain debts. .....
Tag this Judgment!Court : Allahabad
Reported in : [1977]108ITR104(All)
..... in the course of assessment for wealth-tax for the year 1966-67, the assessee-family claimed exemption under clause (iv) of sub-section (1) of section 5 of the wealth-tax act, 1957 (hereinafter called 'the act'), in respect of the value of the building bearing ..... , and 17/33, mahatma gandhi marg, allahabad, occupied as residences by different members of the assessee-hindu undivided family together constitute 'one house' belonging to the assessee and as such are exempt under section 5(1)(iv) of the wealth-tax act, 1957?'2. ..... all er 850 ; [1966] 2 wlr 1204 that the same word occurring in different enactments has to be given a meaning in relation to the context, the object and the purpose of that enactment, we shall advert to a few decisions in which the question whether a building in which there are several dwelling units, can be regarded as one house, was considered.22. ..... it was held in that case that for the purpose of the housing act, 1936, the fact that the house consisted of two separate dwellings, did not entitle the landlord to separate notices in respect of each dwelling and that as the act was concerned with 'houses' and not 'dwellings' only one notice was necessary in respect of the entire house and separate notices were not necessary in ..... government [1965] 3 all er 850, 853, 854; [1966] 2 wlr 1204, 1211 are apposite:'the precise meaning of the word 'houses' has frequently arisen for judicial consideration, but mostly in connection with other statutes or in other contexts. .....
Tag this Judgment!Court : Allahabad
Reported in : [1974]93ITR332(All)
..... the right to remuneration belonging to the assessee as mutawalli under the wakf deed dated august 24, 1950, is an 'asset' within the meaning of section 2(e) of the wealth-tax act, 1957 ?'27. ..... after referring to section 2(m) of the wealth-tax act, which denned 'net wealth', and section 2(e), which denned 'assets', the appellate assistant commissioner came to the conclusion that the word 'property' had a wide import and it included every possible interest which a person ..... ariff, : [1970]76itr471(sc) the supreme court affirmed that the expression 'if sold in the open market' in section 7 of the wealth-tax act 'does not contemplate actual sale or the actual state of the market but only enjoins that it should be assumed that there is an open market and the property can be sold in such a ..... addition to that right, the ownership of the share gave a number of other valuable rights to the holder, including the right to receive the dividends which the company was declaring, the right to transmit the share in accordance with article 34, sub-clauses 1, 2 and 3, and the right to have the shares of other holders who wished to realise offered on the terms of article ..... lord chancellor, observed :'my lords, it seems to me that this construction involves, treating the provisions of section 7, sub-section (5), as if their true effect were to make the existence of an open market a condition of liability instead of merely to prescribe the open market price as the ..... find myself in agreement with the views .....
Tag this Judgment!Court : Allahabad
Reported in : (1997)139CTR(All)114; [1996]222ITR523(All)
..... article 226 of the constitution of india, the petitioner has challenged the notice dated august 16, 1976, issued by the wealth-tax officer under section 17 of the wealth-tax act, 1957, for the assessment year 1973-74, requiring the assessee-petitioner to file its return of wealth for the said year and the subsequent notices dated january 31, 1978, march 10, 1978, march 11, 1978 and april 15, 1978, issued by the valuation officer in connection with the valuation of the assets of the petitioner.2. ..... section 21a was enacted in the wealth-tax act with effect from april 1, 1973, containing provisions parallel to section 13 of the income-tax act and providing the circumstances in which the wealth held under trust for any public purpose of a charitable or religious nature may become liable to wealth-tax. ..... it was held that a judgment of the supreme court cannot be placed on the same footing as a retrospective piece of legislation and it cannot, therefore, be said that the reason for the belief of the income-tax officer was not in existence at the time when he initiated the proceedings. ..... we are in agreement with the view taken by the gujarat and the calcutta high courts in the aforesaid cases. .....
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