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G.R. Jayarama Reddy Vs. Commissioner of Income-tax, Mysore - Court Judgment

LegalCrystal Citation
SubjectDirect Taxation
CourtKarnataka High Court
Decided On
Case NumberI.T.R.C. No. 20 of 1963
Judge
Reported in[1964]53ITR680(KAR); [1964]53ITR680(Karn)
ActsIncome Tax Act, 1922 - Sections 10(2)
AppellantG.R. Jayarama Reddy
RespondentCommissioner of Income-tax, Mysore
Advocates:K. Srinivasan, Adv.
Excerpt:
..... inadequacy of appealed against- applicability of section 163a held, the claimants whose annual income is not more that rs. 40,000/ can only make the claim under section 163-a of the act. the claim has to be considered and disposed off keeping in view the formula provided in the ii schedule of the act, i.e., on structured formula, having regard to the age of the victim and his income. the award made under the said provision shall be in full and final settlement of the claim. the note appended to column 1 from the total amount of compensation, 1/3rd thereof, has to be reduced in consideration of the expenses, which the victim would have incurred, towards maintaining himself had he been alive. further, section 163-a read with schedule ii of the act, itself having provided the percentage..........in ascertaining the written down value for the purposes of computing the profit under section 10(2)(vii) of the indian income-tax act, 1922. 3. no costs. 4. questions answered in the affirmative......
Judgment:

Hedge, J.

1. This is a reference under section 66(1) of the Indian Income-tax Act, 1922. The question of law referred is :

'Whether, in computing the written down value for the purposes of the second; proviso to section 10(2)(vii) the initial depreciation allowed under section 10(2)(vi) is to be included ?'

2. The question has to be answered in favour of the Revenue, in view of the decision of this court in Esthuri Aswathiah v. Commissioner of Income-tax. In other words, our answer to the question referred is that the initial depreciation allowed under section 10(2)(vi)(a) should be taken into account in ascertaining the written down value for the purposes of computing the profit under section 10(2)(vii) of the Indian Income-tax Act, 1922.

3. No costs.

4. Questions answered in the affirmative.


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