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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1965 Page 7 of about 107 results (0.051 seconds)

Feb 23 1965 (HC)

Beverley Estates Ltd. Vs. Commissioner of Agricultural Income-tax, Mad ...

Court : Chennai

Decided on : Feb-23-1965

Reported in : [1966]61ITR374(Mad)

..... was claimed as a business loss arising out of agricultural operations. the department and the tribunal held it to be agricultural loss not climbable as a deduction under the income-tax act. the learned judges had occasion to consider what the type of process contemplated by the expression 'process ordinarily what the type of process contemplated by the expression' process ..... was, whether the bamboos, thatching grass, etc., grown by the assessee-company and utilised for its own benefit in its tea business was a agricultural income with in the meaning of the bengal agricultural income-tax act. the high court answered this question in the affirmative and a further appeal was taken to the supreme court. section 2(1)(a) of the ..... comprise of agricultural income, derived from land situated within the state which is received or which accrues ..... it is true that under the income-tax act, it is the profits or gains that are brought to tax. we are by no means convinced that the principle of taxation under lying the agricultural income-tax act is the same as in the income-tax act. while section 3 brings to charge the total agricultural income of the previous year, 'total agricultural income' is defined in section 4 to .....

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Aug 16 1965 (HC)

Estate of Late Rangalal Jajodia Vs. Commissioner of Income-tax, Madras ...

Court : Chennai

Decided on : Aug-16-1965

Reported in : [1966]61ITR726(Mad)

..... may be made on his legal representative either solely or jointly with that other person or persons, as the case may be.'section 21 of the excess profits tax act applies section 24b of the income-tax act to assessments against the legal representatives. under the power of modification conferred by section 21, rules have been framed which direct that section 22 in sub-section ..... and information relating to them is irrelevant for the purpose of information or stating her objections as to her treatment as executor.' the income-tax officer completed the assessment both under the income-tax act and the excess profits tax act. against these orders aruna devi filed appeals which were disposed of by the appellate assistant commissioner on april 16, 1955. two points were urged before him ..... her an opportunity to put forward her objections to the assessments. the appellate assistant commissioner was o the view that apart from the fact that the amendment made to the income-tax act in 1953 had retrospective effect from april 1, 1953, the assessee was the estate of the late rangalal jajodia. he further thought that as his predecessor in the earlier appeal ..... judgment of the court was delivered byveeraswami j. - this reference involves the construction of section 24b(3) and the second proviso to sub-section(3) of section 34 of the income-tax act of 1922 and the question as to how far they are applicable to the facts of the case.one rangalal jajodia, who was carrying on business in the city of .....

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Nov 18 1965 (HC)

Commissioner of Agricultural Income-tax, Madras Vs. M. K. Harihara Iye ...

Court : Chennai

Decided on : Nov-18-1965

Reported in : [1966]62ITR225(Mad)

..... more than three years previously. thus, while there is no restriction on the power of revision by the commissioner under section 34 of the travancore-cochin agricultural income-tax act, the madras agricultural income-tax act bars the exercise of the revisional powers before the expiry of the time for an appeal to the appellate tribunal and during the time when the appeal is ..... of the travancore-cochin agricultural income-tax act corresponds to section 24b of the indian income-tax act. sub-section (1), (2) and (3) of section 24 of the travancore-cochin agricultural income-tax act are the same as sub-section (1), (2) and (3) of section 24b of the indian income-tax act. construing the three sub-sections of section 24b of the indian income-tax act, the supreme court held in ..... pending before the appellate tribunal. the question whether the commissioner under the travancore-cochin agricultural income-tax act can exercise his powers of revision before the expiry of the time for an appeal or pending appeal before the appellate tribunal does not arise for consideration in this ..... . he also did not agree with the contention of the assessee that the amounts were not assessable under sections 24 and 34 of the travancore-cochin agricultural income-tax act. he held that the income received by the assessee during the year towards the rent due to lakshmi ammal, realised by the assessee after her death, was taxable. he included the .....

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Nov 18 1965 (HC)

Commissioner of Income-tax, Madras Vs. M. V. Murugappan and Others. Co ...

Court : Chennai

Decided on : Nov-18-1965

Reported in : [1966]62ITR382(Mad)

..... allahabad high court sitting on the company side, in which he was concerned not with clause (c) as it stood in 1955, but with section 2(22) (c) of the income-tax act, 1961. the learned judge stated that the accumulated profits in clause (c) included profits up to the date of the distribution. this was obviously so because of the second explanation ..... the distribution is attributable to the accumulated profits of the company immediately before its liquidation, whether capitalised or not.'clause (c) of sub-section (22) of section 2 of the income-tax act, 1961, is in identical terms. but sub-section (22) has a second explanation which is to the effect that the expression 'accumulated profits' in sub-clause (c) shall include all ..... the accumulated profits of the company as on october 31, 1954, as contemplated under section 2(6a) (c) of the income-tax act, 192 ?'the tribunal purported to follow t. appavu chettiar v. commissioner of income-tax and girdhardas and co. ltd. v. commissioner of income-tax in support of its view that the sum of rs. 81,611 represented current profits which could not be legitimately ..... veeraswami, j. - these are two references before us involving the same question, both made at the instance of the commissioner of income-tax, madras, under section 66(1) of the income-tax act, 1922. they relate to the assessment year 1955-56, corresponding to the accounting year ended april 12, 1955. there was a public limited company called ajax products limited which was .....

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Oct 21 1965 (HC)

Commissioner of Income-tax, Madras Vs. Kasturi Estates (P.) Ltd.

Court : Chennai

Decided on : Oct-21-1965

Reported in : [1966]62ITR578(Mad)

..... important as what appears to us to be the correct line of enquiry indicated therein.the word 'business' is defined by section 2(4) of the income-tax act, 1922, as including, inter alia, trade, commerce, or any adventure or concern in the nature of trade or commerce. 'trade', in the context ..... conclusion that an adventure in the nature of trade was carried on. at the instance of the commissioner of income-tax, the tribunal has made this reference under section 66(1) of the indian income-tax act, 1922, of the question whether the surplus realised by the assessee from the sale of the plots is ..... the taxable and the non-taxable. in leeming v. jones it was stated that in order to attract tax liability under case 1 of schedule d, corresponding to section 2(4) of the indian income-tax act, 1922, one at least of four conditions must be present, namely, (1) the existence of an organisation ..... considered that the commissioners took a view of the facts which could not reasonably be entertained. in g. venkataswami naidu & co. v. commissioner of income-tax, the facts briefly stated were these. a managing agent of a certain mill purchased plots of land adjacent to the premises of the mills. while he ..... on the evidence before the commissioner was that the transaction was an adventure in the nature of trade. punjab co-operative bank v. commissioner of income-tax held that the profits derived by a co-operative bank, a company, from sale of shares and securities were taxable. the privy council found .....

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Nov 15 1965 (HC)

Commissioner of Income-tax, Madras Vs. United India Life Assurance Com ...

Court : Chennai

Decided on : Nov-15-1965

Reported in : [1966]62ITR610(Mad)

..... is not necessary that the should also be the owner of the business. on that question, there is no difficulty. a comparison between section 9 and section 10 of the income-tax act brings out the distinction that whereas, for purposes of the former section, the person charged or sought to be charged must be the owner of the property, under section it ..... , on the facts and in the circumstances of the case, the inter compensation of rs. 63,034 is assessable in the hands of the company under section 12 of the income-tax act ?'the first question depends on whether the assessee carried on the controlled business during the period january 19, 1956, to august 31, 1956. the departmental view, as we already indicated ..... (1) will office if the assessee carried on the business in the previous year. in executors of the estate of dubash v. commissioner of income-tax, which was concerned mainly with sections 25(4) and 26(2) of the income-tax act, the supreme court in the course of its judgment observed :'there seems to be no warrant, therefore, to insist on a transfer of ..... , thus in all rs. 16,31,611. in response to a notice under section 22(2) of the income-tax act, the assessee filed a return showing 'nil' income. but in section d of the return, the assessee showed these amounts. the income-tax officer found that the business income of the assess for the period january 1, 1956, to january 18, 1956, worked out to rs .....

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Sep 14 1965 (HC)

V. S. Sivalingam Chettiar Vs. Commissioner of Income Tax Madras.

Court : Chennai

Decided on : Sep-14-1965

Reported in : [1966]62ITR678(Mad)

..... veeraswami, j. - this reference is concerned with the validity of the certain orders made under section 34(1) (b) of the income-tax act, 1922, relating to the assessment years 1955-56 and 1956-57. the assessee is the son of v. s. chettiappa chettiar. until 1939, they ..... an income less than the taxable limit. if the income tax officer is satisfied that the rerun is correct, he proceeds under section 22(1). ..... part of sub-section (3) of that section. whether the income-tax officer acts under sub-section (1) and sub-section (3) lies in the procedure to be followed by the income tax officer depending on his satisfaction in relation to the correctness of the return. when he acts under section 23(3), he considers the evidence produced by the ..... as it seems to us, not prejudiced as he was by the order passed by the income-tax officer, failure to serve notice thereof did not deprive these orders of their validity. in our view, on a strict reading of the act, it does not appear to contemplate service of notice in such cases. nevertheless, we feel ..... either under section 22(1) or under section 22(2). though where there is income less than the taxable limit there is no a return filed under section 22(1) when one is actually made the income-tax officer may well act on it just as he will on return filed under section 22(2), though of .....

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Sep 06 1965 (HC)

C. G. Krishnaswami Naidu Vs. Commissioner of Income-tax, Madras.

Court : Chennai

Decided on : Sep-06-1965

Reported in : [1966]62ITR686(Mad)

..... as commission in the state of mysore but not remitted into the former british india and accordingly the entire sum was exempt under section 14(2) (c) of the income-tax act. the income-tax officer did not agree with him and held that the entire accrued to him in british india. his reasons were, the two agreements to finance krishna ayyar were entered into ..... justification, apart from section 42, to lay down a general principle of apportionment based on distributive process.anglo-french textile co. ltd. (no, 2). commissioner of income-tax was no doubt a case under the income-tax act, but it involved section 42. in this case again apportionment was allowed, and a portion of the profit attributable to the purchase of cotton in british india ..... question accrued to the assessee in british india and that, as such, was chargeable to tax under section 4(1) (b) (i) of the income-tax act. if the situs of the income is not in british india but without the table territories, even then the income would be chargeable to tax under section 4(1) (b) (ii), as the assessee is a resident of madras, unless ..... case accrued or arose to the assessee in the state of mysore (as it was before 1950) and exempt from tax for the assessment year 1946-47 under section 14(2) (c) of the indian income-tax act ?(2) if only a part of such income accrued or arose to the assessee in the state of mysore, what is the quantum therefore ?these question have .....

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Nov 30 1965 (HC)

Commissioner of Income-tax, Madras Vs. N. V. Shanmugam and Co. and Oth ...

Court : Chennai

Decided on : Nov-30-1965

Reported in : [1966]62ITR701(Mad)

..... partnership firm normally. he was also of the view that the receivers would be liable to assessment as an 'association of persons' under section 10 of the income-tax act. 1922, and that section 41 of the act would be inapplicable. with this view the appellate assistant commissioner concurred. in the assessment order, the assessee was described as 'sarvashri s. p. ramiah nadar, ..... first instance did not constitute an 'association of individuals', they became an association of individuals within the meaning of section 3 of the income-tax act when they elected to retain property and manage it as a joint venture producing income. the assessment on the brothers as an 'association of pakistan, which was decided by the federal court of pakistan, shared that view ..... did constitute an association of individuals within the meaning of both section 3 and section 55 of the indian income-tax act, 1922.'in 5 i. t. r. these are two judgments which may be usefully referred to, one at page 584, commissioner of income-tax v. laxmidas devidas and another at page 716, dwarakanath harischandra pitale, in re. the first related to a ..... the business in snuff to attract section 10, and whether the facts are not such as to attract section 41.nowhere the act defines the term 'association of persons'. section 3 says :'... income-tax shall be charged... in respect of the total income... of every individual, hindu undivided family, company and local authority, and of every firm and other association of persons or .....

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Mar 25 1965 (HC)

State of Madras Vs. V. Guruviah Naidu and anr.

Court : Chennai

Decided on : Mar-25-1965

Reported in : AIR1968Mad137; [1966]17STC272(Mad)

..... of the authority appealed against. in the case cited, the assessee firm was granted registration by the income-tax officer. the assessee preferred an appeal against the assessment made against him under the income-tax act to the appellate assistant commissioner. the appellate assistant commissioner under the act was empowered to confirm, reduce, enhance or annul the assessment in the appeal. the appellate assistant ..... commissioner was not empowered to cancel the order of registration made by the income-tax officer. the right of appeal is given only to ..... the passage quoted above. further, it will have to be noted that the scope and effect of s. 12-a of the act was not under consideration by the bench in that case. the decision reported in commr. of income-tax v. tejaji farasram, : [1953]23itr412(bom) was next referred to by the learned additional government pleader. chagla c. j. ..... right of appeal against the order in question and there can be no doubt that the scheme of the act was not to give the department a right of appeal to the appellate assistant commissioner against any orders passed by the income-tax officer. the supreme court further observed:'if that be the true position, the order of registration passed by .....

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