Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1958 Page 1 of about 57 results (0.059 seconds)

Jul 07 1958 (HC)

V. Ramaswami Naidu and anr. Vs. Commissioner of Income-tax, Madras

Court : Chennai

Decided on : Jul-07-1958

Reported in : AIR1959Mad126; [1959]35ITR33(Mad)

..... follows : sir joseph kay, the assessee, was entitled to receive from three insurance companies in the united kingdom annuity amounting to 500 a year. the insurance companies deducted income-tax under the english income-tax act, 1918, at the standard rate amounting to 275. the assessee was paid only 225. the assessee contended that only the sum of 225 which he actually received should be ..... profits or gains, before the payment of any dividend in respect of any share, right or title thereto, computed in accordance with the provisions of the income-tax acts. a company pays income-tax on its profits as being itself a tax-payer, not as agent for its shareholders ; if no dividend is declared by the company, the shareholders are not concerned with the payment of ..... from the speech of lord phillimore in bradbury v. english sewing cotton company limited l.r. (1923) a.c. 744 at p. 769 : 'a joint stock company is under the income-tax act, 1842, treated as a person and is directed to make a return of its profits or gains according to schedule d upon a conventional figure, arrived at by taking an ..... in the names of various members of the family 10,208 shares of rs. 10 each in agravas estates, limited, a company incorporated in ceylon. for purposes of the indian income-tax act this company is a foreign company. g.v. govindaswami naidu, another assessee, and, his wife govindammal, held 10,000 shares in the same company between them. at a meeting of .....

Tag this Judgment!

Apr 16 1958 (HC)

N.V.N. Nagappa Chettiar and ors. Vs. Income-tax Officer, Pudukottai

Court : Chennai

Decided on : Apr-16-1958

Reported in : AIR1959Mad205; (1958)2MLJ10

..... :'an assesses is not entitled to a right of appeal merely against an order of the income-tax officer imposing penal interest under section 18-a (8) of the income-tax act, for failure to pay advance income-lax.''5a. mr. srinivasan also referred to boddu seetharamaswami v. commr. of income-tax, : [1955]28itr156(ap) to reinforce his contention that the levy of interest is not ..... -chand ramdas as follows:'one of the peculiarities of most income-tax acts is that the word 'assessment' is used as meaning sometimes the computation of income, sometimes the determination of the amount of tax payable and sometimes the whole procedure laid down in the act for imposing liability upon the tax payer. the indian income-tax act is no exception in this respect.'19. the contention of ..... far this reasoning is sound it is necessary to examine some of the other provisions of the income-tax act. section 18 provides for payment of income-tax by deduction at the source in respect of salaries and interest on securities. section 18-a applies to incomes not covered by section 18 and represents an attempt to implement a policy or method which is ..... in the taxable territories on 1-4-1949. some time in 1952 the income-tax officer, pudukottai, completed the assessment on the petitioners and served the prescribed notices on them. on 2-3-1956 the income-tax officer issued notices to the assessees under section 35 of the income-tax act mentioning therein that the interest chargeable on the assessees under section 18-a ( .....

Tag this Judgment!

Aug 06 1958 (HC)

A.V.R.A. Veerappa Chettiar Vs. the Commissioner of Income-tax, Madras

Court : Chennai

Decided on : Aug-06-1958

Reported in : AIR1959Mad56; [1960]38ITR29(Mad)

..... is the liability of the assessee to pay these municipal rates in ceylon an "annual charge" within the meaning of section 9(1)(iv) of the income-tax act is the question.20. we have already pointed out that the liability to pay the rates was annual, though the ceylon ordinance permitted the payment in instalments. ..... four assessment years 1944-45 to 1946-48.13. we have to answer this question with reference to the relevant provisions of section 9(1) of the income-tax act, and the provisions of the ceylon municipal councils ordinance regulating the assessment, levy and collection of rates on houses in ceylon.14. the relevant provisions of ..... section 9(1) of the income-tax act ran:the tax shall be payable by an assessee under the head 'income from property' in respect of the bona fide annual value of property consisting of any buildings or lands appurtenant thereto of ..... dividend of rs. 7,500 received in the ' previous year' for 1945-46 assessment from the beverley estates, ltd., madras, is income exempt under section 4(3)(viii) of the income-tax act?the answer to this question is concluded by the authority of the decision of the supreme court inmrs. bacha f. gizdar v. commissioner ..... 1. six questions were referred for the determination of this court under section 66(1) of the income-tax act. it may not be necessary to set out over again the relevant facts to answer some at least of the questions.2. .....

Tag this Judgment!

Jul 09 1958 (HC)

Estates and Agency Co. Ltd. by Matheson Bosanquet and Co. Ltd., Coonoo ...

Court : Chennai

Decided on : Jul-09-1958

Reported in : AIR1959Mad81; (1958)2MLJ388

..... the taxable territories would. be less than the income that arose to it outside the taxable territories in that year.3. in effect the learned ..... 1. the two questions that were referred to this court for determination were :1. whether the words "income arising in the taxable territories" in section 4-a (c) of the income-tax act would also include agricultural income arising in taxable territories.2. whether the assessee was rightly assessed as a resident within the meaning of section 4-a(c).the answer to the second of ..... india for purposes of assessment to income-tax in the assessment year 1951-52. in computing the income that arose within the taxable territories in the relevant year the tribunal took into account a sum of rs. 4,40,341/- which constituted agricultural income as defined by section 2(1) of the income-tax act if that were ignored the taxable income that arose to the assessee within ..... counsel for the asses-see urged that the word "income" in the passage "income arising in taxable territories" should be .....

Tag this Judgment!

Apr 02 1958 (HC)

P. Kuttikrishna Nair Vs. Income-tax Appellate Tribunal, Madras and anr ...

Court : Chennai

Decided on : Apr-02-1958

Reported in : AIR1959Mad108; [1958]34ITR540(Mad); (1958)2MLJ601

..... been passed after hearing both the petitioner and the authorised representative of the department. he added :'the appellant is not aware of any provision in the income-tax act or in the appellate tribunal rules' enabling the income-tax officer or his authorised representative to file an application concerning matters decided in the appeal after the order has been passed and communicated to the appellant ..... rs. 17,500 for 1947-48 and nothing should be added for 1946-47 and 1948-49.5. the petitioner applied to the tribunal under section 66(1) of the income-tax act to state a case and refer certain questions to the kerala high court in respect of the assessment for the years 1944-45, 1945 46 and 1947-48.6. on ..... balakrishna ayyar, j. 1. these are two petitions for the issue of appropriate writs to quash the order of the income-tax appellate tribunal, madras dated 3-1-1957, and made under section 35 of the income-tax act. w. p. no. 649 of 1957 relates to the assessment year 1948-49 and w. p. no. 650 of 1957 relates to the assessment year 1916-47 ..... fit, ignore the representation.18. the matter is covered by authority. section 33 of the income-tax act, as it stood before it was amended by act vii of 1939, authorised the commissioner of income-tax of his own motion to call for the record of a proceeding under the act which has been taken by an authority subordinate to him or by himself when exercising the .....

Tag this Judgment!

Aug 19 1958 (HC)

M.L.M. Muthiah Chettiar and ors. Vs. Commissioner of Income-tax, Madra ...

Court : Chennai

Decided on : Aug-19-1958

Reported in : AIR1959Mad158; [1958]33ITR567(Mad); (1959)2MLJ196

..... option within one month after he was informed of the scheme.(2) the assessee was permitted to include in his expenses various items which would be inadmissible under the indian income-tax act.(3) the losses suffered by the assessee during the five years relevant to the assessment years, 1942-43 to 1946-47 were all to be aggregated.(4) the assessee was ..... permitted--reversing the usual procedure fixed in the indian income-tax act to carry this aggregated loss backwards and set it off against his profits for the assessment year 1942-43.(5) if there was any loss still unabsorbed the assesses was ..... assessee. but, the liability of the assessees in these cases -- and in fact of all persons -- to pay indian income-tax is created by the provisions of the indian income-tax act.the amounts on which the tax has to be paid, the rates at which the tax has to be computed and the reliefs which assessees are entitled to, must all be determined in accordance with ..... arising from the fact that a particular assessee has accepted the scheme or offer made by the government of india cannot be enforced as if they arose under the indian income-tax act; such rights and liabilities since they arise from contract must be adjusted or enforced otherwise. to put it in another wav, the scheme stands outside the .....

Tag this Judgment!

Nov 13 1958 (HC)

T.V. Sundaram Iyengar and Sons Ltd., Madurai Vs. Commissioner of Incom ...

Court : Chennai

Decided on : Nov-13-1958

Reported in : AIR1960Mad96; [1959]37ITR26(Mad)

..... the assessee. similarly it was held in the latter case:'on the interest which accrues due in respect of securities, debentures etc., referred to in s. 8 of the indian income-tax act, 1922, the liability to pay arises only when the interest is received.'section 12-b, however, does not speak of any receipt at all. the crucial word used there is ..... . that is no doubt so, but we find it difficult to see how that argument would help the assessees now before us. in order that sec. 12-b of the income-tax act may apply, it is sufficient if in the relevant accounting year profits arise out of the sale of capital assets. what the parties did subsequent to the year will not ..... ,750, and rs. 2,32,050.(8) it will be noticed that these figures are higher than the corresponding figures adopted by the income-tax officer.(9) under sec. 12-b of the income-tax act, an assessee is liable to pay tax under the head 'capital gains' in respect of any profits or gains, arising from the sale, exchange or transfer of a capital asset ..... following questions of law for the decision of this court:(1) whether the provisions of sec. 12-b of the indian income-tax act levying a tax on capital gains are beyond the competence of the central legislature under the government of india act, 1935. (2) whether, on the facts and circumstances of the case, there is material to support the assessment made on the .....

Tag this Judgment!

Sep 03 1958 (HC)

Pierce, Leslie and Co. Ltd., Kozhikode Vs. Commissioner of Income-tax, ...

Court : Chennai

Decided on : Sep-03-1958

Reported in : AIR1960Mad137; (1960)IIMLJ1

..... of the order of the appellate tribunal. on applications presented by them the tribunal made a consolidated reference under s. 66(1) of the income-tax act and submitted three questions for the determination of this court.(2) the questions arose out of the assessment proceedings for the assessment years 1949-50 ..... years 1949-50 and 1950-51 from plantation companies whose main business was agriculture can be said to include any agricultural income exempt under s. 4(3) of the income-tax act.'the issue is no longer res integra and it is concluded by the decision of the supreme court in mrs. bacha ..... the aforesaid sum of rs. 60,000 compensation received from the tallier estates ltd., is assessable as a trading profit under the income-tax, excess profits tax and business profits tax acts.'(5) the relevant facts as found by the tribunal are as follows: the assessee company is incorporated in the united kingdom. ..... f. guzdar v. commr. of income-tax bombay : [1955]27itr1(sc) . dividends do not constitute agricultural income. the question is answered in the negative ..... have set out above.(6) the decision of this court in : [1951]20itr605(mad) was reversed by the supreme court in commissioner of income-tax and excess profits tax v. south india pictures ltd. : [1956]29itr910b(sc) . but that may not include the question at issue. it is with reference .....

Tag this Judgment!

Sep 03 1958 (HC)

S.S. Subbier and Vs. Commissioner of Excess Profits Tax, Madras

Court : Chennai

Decided on : Sep-03-1958

Reported in : AIR1959Mad271; [1959]35ITR362(Mad)

..... , merely because they were carrying on businesses at two different places under different styles and names.'the court further explained how the position under the indian income-tax act was different.18. the learned advocate general did not dispute that this decision being that of a division bench of this court is binding on us. ..... individual. although a firm is an assessable entity under the indian income-tax act a firm is not a legal entity. in the eye of the law a firm is a compendious expression used to indicate that several persons ..... by the assessee but is carried on by the assessee along with a partner or partners. mr. joshi says that a firm under the indian income-tax act is an assessable entity and therefore a distinction must be made between a business carried on by a firm and a business carried on by an ..... cotton seed in coimbatore. for the purpose of the indian income-tax act the firm in tanjore would be one entity and the firm in coimbatore would be another entity. the two would be wholly distinct. it would be ..... 23rd september 1944. he pointed out that though a firm is not a juristic person for all purposes it is an assessable entity under the indian income-tax act.two persons may enter into a partnership to trade, say in rice in tanjore. the very same persons may enter into another partnership to trade in .....

Tag this Judgment!

Oct 17 1958 (HC)

K. Simrathmull Vs. Addl. Income-tax Officer, Ootacamund

Court : Chennai

Decided on : Oct-17-1958

Reported in : AIR1959Mad328; [1959]36ITR41(Mad)

..... this amount in that assessment."5. the assessment for 1945-46 had been completed by the income-tax officer on 31-12-1945. but, acting on what the appellate assistant commissioner had said, the income-tax officer issued a notice dated 6-2-1957, under section 34 of the income-tax act, calling upon the petitioner to submit a return for the assessment year 1945-46. on 18 ..... -6-1957, the income-tax officer also issued a notice under section 22 (4) of the income-tax act, calling upon the petitioner to prodnce his books relating ..... dwarkadas, .the facts there were as follows: on 30-4-1954, the income-tax officer served a firm p with a notice under section 34 of the income-tax act for the assessment year 1942-43 on the ground that certain income of that year of a firm v should have been included in the income of the firm p but had been wrongly included in the ..... of a notice issued under section 34 of the income-tax act dated 6-2-1957, and numbered as 86-s/45-46.2. the petitioner is an assesses on the file of the additional income-tax officer, ootacamund in g. i. no. 86-s. on 18-12-1946, the income-tax officer assessed the petitioner on a total income of rs. 5143, under section 23 (3) of .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //