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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1966 Page 1 of about 47 results (0.048 seconds)

Sep 01 1966 (HC)

The Commissioner of Income-tax, Madras Vs. S. Chenniappa Mudaliar

Court : Chennai

Decided on : Sep-01-1966

Reported in : AIR1968Mad110

..... nine shares and another sum of rs. 72,515 in respect of 1674 shares. these two amounts were brought to tax for the assessment year, treating them as income and liable to tax under s. 10(5-a) of the income-tax act 1922. both the income-tax officer as well as the appellate assistant commissioner repelled the assessee's contention that the receipt of two amounts was ..... :'whether on the facts and in the circumstances of the case, the two sums of rs. 72,515 and rs. 3,14,100 are assessable to tax under s. 10(5-a) of the indian income-tax act 1922?'we are concerned with the assessment year 1956-57. the assessee was one of the two managing directors of a private limited company by name ..... it is that definition which will govern the scope of the expression 'manager' in clause (b) of sub-sec. (5-a) of s. 10 of the income-tax act, 1922. one of the requisites of a person being a manager is that he should be entitled to manage the whole affairs by himself.(4) clause (c) will obviously be ..... in the nature of capital assets by sale of the shares. the income-tax officer however, computed the tax on the amount of rs. 3 .....

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Jun 21 1966 (HC)

Indian Overseas Bank Ltd., Madras Vs. Commissioner of Income-tax, Madr ...

Court : Chennai

Decided on : Jun-21-1966

Reported in : AIR1967Mad192; [1967]63ITR733(Mad)

..... the purpose. they never said that the reserve so set apart was to comply with the provisions of the banking companies act or sec. 10(2)(vi-b) of the income-tax act, 1922. having regard to one of the conditions prescribed by clause (b) to the proviso, unless it is compiled ..... us under s. 66(1) of the indian income-tax act, 1922:'1. whether the creation of a reverse in compliance with s. 17 of the banking companies act is sufficient compliance with the requirements of s. 10(2) vide proviso (b) of the indian income-tax act 1922; and 2. whether on the facts and ..... with the assessee cannot successfully claim the deduction under this head. a similar view was taken by this court in commissioner of income-tax v. veeraswami nainar : [ ..... have been borne in mind by the tribunal in considering this question and which distinguishes the ratio of gordon woodroffee leather manufacturing co. v. commissioner of income-tax, madras : [1962]44itr551(sc) . that was a case where an employee resigned, and thereafter a voluntary payment was resolved upon and paid. ..... for them to consider the business expediency and whether a particular expenditure should be incurred for purpose of the business--vide newton studios v. commissioner of income-tax madras : [1955]28itr378(mad) . in this case as we mentioned earlier pension to sri a. subbiah was not decided upon and paid after .....

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Jul 18 1966 (HC)

Sri Sadayapillai Trust Tiruppanandal and ors. Vs. Agricultural Income- ...

Court : Chennai

Decided on : Jul-18-1966

Reported in : AIR1967Mad396; [1967]63ITR520(Mad)

..... from sadaya pillai trust by its trustee, the agricultural income-tax officer, kumbakonam, by his order dated 31-8-1962, exempted from tax, under section4(b) of the madras agricultural income-tax act, 1955 the income from certain lands specified in the order as being wholly held under trust for religious or charitable purposes. the commissioner of agricultural income-tax, in exercise of his powers under section 34 and ..... by order dared 4-11-1965 set aside the exemption and directed that the income should be brought to tax in accordance with law. this ..... turn trustee for the time being.(2) in our opinion, the order of the income-tax officer granting exemption is correct. the relevant provision in the act is clause (b) to section 4. that section defines 'total agricultural income'. but such income does not include under clause (b) 'any agricultural income derived from property held under trust or other legal obligation wholly for religious or charitable .....

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Feb 25 1966 (HC)

Qhamarunnissa Begum Vs. Fathima Begum and ors.

Court : Chennai

Decided on : Feb-25-1966

Reported in : AIR1968Mad367

..... the partnership in accordance with the terms of the partnership. on the question whether the gift was valid and the firm was entitled to registration under the income-tax act, it is observed as follows:--"it must, however, necessarily depend upon the circumstances of the case whether the actual subject-matter of the gift should be ..... the sixth defendant drew our attention to another decision of this court in a.m. abdul rahman rowther and co. v. commr. of income-tax, . in thatcase a muslim assessee to income-tax who was the sole proprietor of a business purported to make certain gifts to his two married daughters by incorporating certain entries in his ..... the gift by divesting himself, so far as he can, of the whole of what he gives. in haji abdul kareeem and son v. commr. of income-tax, , this court, referring to the abovepassage in mullah's principles of mahomedan law, held that where the subject-matter of a gift consisted of the assets ..... field was not fatal to the validity of the gift. in such a case, the gift would be valid, if after it was made, the income or other benefit derived from the field was applied to the use of the minor so as to show that a transfer of ownership had been made.( ..... the donor was bound to protect the house site and movable properties gifted, conduct repairs, pay taxes, etc., with the help of the properties or with the help of the cash or with the help of income derived from them. it is also stated therein that the donee had right as per mahomedan law .....

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Aug 03 1966 (HC)

Ve. Vs. Sivagami Achi V. Vr. Ve. Vr. Ramanathan Chettiar and Others.

Court : Chennai

Decided on : Aug-03-1966

Reported in : [1967]64ITR36(Mad)

..... or resisted the application. on the application, the subordinate judge issued summons to the income-tax officer which recited that it was issued since section 137 of the income-tax act, 1961, has been omitted from the income-tax act, 1961, by the finance act, 1964 (act v of 1964). in response to the summons, the income-tax officer wrote to the subordinate judge stating that the records in question related to ..... absence of a saving clause is by itself not material.'we should, therefore, bear in mind these principles in determining the effect of the omission of section 137 of the income-tax act, 1961. the omission of section 137 is not followed by a re-enactment of that section in any form. but it does not follow that, on that account, the ..... in any document whatever filed or produced during assessment proceedings are confidential and the bar on the court from summoning for such particulars is lifted. section 138 (2) of the income-tax act, 1961, gives the power to the central government, as we said, to specify by a notified order the particulars which might be treated as confidential. section 280, as modified, visits ..... refer the matter to a division bench.before we proceed to consider the point in controversy, it is first necessary to notice the relative statutory provisions. section 54 of the income-tax act, 1922, related to disclosure of information by a public servant. by sub-section (1) of that section, it was enjoined that the particulars contained in any statement made, return .....

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Aug 22 1966 (HC)

P.S. Subramaniam Chettiar and Sons Vs. the Joint Commercial Tax Office ...

Court : Chennai

Decided on : Aug-22-1966

Reported in : (1966)2MLJ502

..... on an english case which, as the andhra pradesh high court pointed out, was concerned with section 36 of the english income tax act which in terms conferred power to make assessment by best judgment. the question is which of the views represents the correct view.4. the ..... by best judgment as a distinct category of power has come into practice and wherever the legislature thought fit, it expressly conferred that power upon the assessing authority. in the madras general sales tax act, 1939, section 9 contained the power ..... . 175 : (1965) 16 s.t.c. 54, however, expressed a different view and held that section 14(4) of the andhra pradesh general sales tax act, 1957 was confined to escapement of turnover which was definitely established. that court was inclined to think that the words in section 14(4) ' which has ..... orders raised a question of jurisdiction and in view of a conflict of decisions on the scope of section 16 of the madras general sales tax act, 1959 and parallel provisions in like enactments in other states, the appeals were directed to be placed before us.3. two learned judges of ..... of the act in contrast with sections 12 and 13 in the background of the legislative history relating to procedural provisions for assessment of escaped turnover it is not with respect, possible to accept that view. broadly speaking, in the taxation laws of this country, be it income-tax or sales tax, assessment .....

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Sep 01 1966 (HC)

Gangadhar Narasingdas Agarwal and ors. Vs. the Union of India (Uoi), R ...

Court : Chennai

Decided on : Sep-01-1966

Reported in : (1967)2MLJ306

..... market rate, which would result in the amount of full export value given not being the actual value realised by sale.17. reference was made to the income-tax act where a return with false particulars is not treated as no return. if there are incorrect particulars or false statements, punishments are provided for furnishing such ..... the authorities are not empowered to proceed on the basis that no return had been submitted. section 23(4) of the income-tax act, 1922 provides that when a person fails to make a return, the income-tax officer shall make the assessment to the best of his judgment, whereas he cannot do so when an incorrect or incomplete ..... return is furnished. section 271 of the income-tax act, 1961 deals with cases where the person fails to furnish information, while section 277 deals furnishing a false statement. the advocate-general on behalf of ..... its view that a return which deliberately failed to comply with the rule contained in section 22(2) that the return was to be of the total income of the assessee was no return at all within the meaning of that rule of law. when the full export value given is correct, subject to ..... applied to an assessee who made a return which he knew that it was a bona fide return and in which he had put in his total income to the best of his then information, and yet there was some omissions on his part due to some cause or other, but not to a .....

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Aug 11 1966 (HC)

E. A. Venkataramier and Sons Vs. Commissioner of Income-tax, Madras.

Court : Chennai

Decided on : Aug-11-1966

Reported in : [1967]65ITR316(Mad)

..... income on the view that it represented undisclosed income of the assessee. the propriety of this order was the subject-matter of ..... whom four were the relative husbands of other partners. for the year in question, the assessee returned a total income of rs. 1,21,058 which was accepted by an order of the income-tax officer dated october 11, 1956. the assessment was however reopened under section 34 of the income-tax act, 1922, and a sum of rs. 10,000 was added to the chargeable ..... section 34(1) (b), as evident from the record. it is on this question learned counsel of the assessee mainly concentrated. he says that the income-tax officer, while purporting to act under section 34 of the act, had no fresh information or material which he did not have at the time the original assessment was made and that the view of the tribunal ..... in which the credit appears and of which the assessee is a partner if he is so advised.'that was how the proceedings were initiated by the income-tax officer user section 34 of the act.this officer referred in his reassessment order dated march 25, 1960, to the earlier history relating to the sum of rs. 2,500 in the case of .....

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Aug 09 1966 (HC)

K. Simrathmull (No. 2) Vs. Commissioner of Income-tax, Madras.

Court : Chennai

Decided on : Aug-09-1966

Reported in : [1967]64ITR262(Mad)

..... year 1952-53 and the questions we are called upon to answer section 66 (1) of the income-tax act of 1922 are the following :'1. whether, on the facts and in the circumstances of the case, the tribunal is right in holding that the income of the applicants wife from her money-lending business is properly includible in the applicants assessments ?2. whether ..... original purchase price being rs. 2,000. the bishopdown house was purchased for a sum of rs. 2,346 and was during the assessment year for rs. 6,500. the income-tax officer being of opinion that the purchase of the houses was wholly with a view to dispose of them at an opportune moment and that the assessee purchased the houses ..... an ancillary activity to the primary business activity of money-lending brought the total amount to tax as income from business. the appellate assistant commissioner, without discussing the matter as to whether in his view the purchase and sale of the houses realised on these properties was also ..... two questions in this reference are covered by our answers in the other tax case. following our judgment in that case, we answer the first question against the assessee and the second question in favour of the assessee.the third question relates to the inclusion in the chargeable income of a total sum of rs. 5,853 representing the difference between the .....

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Mar 08 1966 (HC)

A. Kuppiah Mudaliar Vs. Commissioner of Income-tax, Madras.

Court : Chennai

Decided on : Mar-08-1966

Reported in : [1967]63ITR522(Mad)

..... the case, in paragraph 11 it is set out that from the assessment of 1955-56 onwards, the department had granted registration under section 26a of the income-tax act to dhanalakshmi rice mill and dhanalakshmi rice trade on the basis of kuppiah mudaliar and balasubramanian being partners in their separate status. we may also advert to ..... natensan j. - this is a reference under section 66(2) of the income-tax act, 1922, and the question referred runs thus :'whether there were materials on record to justify the conclusion of the tribunal that there was no ..... full settlement of his claim and that, therefore, there can be no question of division of the firms. this view was adumbrated for the department before the income-tax officer - vide assessment order for the year of assessment 1957-58. there is no substance in this. certainly this view has not commended itself to the ..... 26a as stated in paragraph 11 in the statement of the case. in the light of the principles discussed above and following the decision in commissioner of income-tax v. ramakrishnier cited above, without hesitation it can be stated that there is nothing on record to hold that there was no effective partition of the ..... that the karta will cease to represent the other members in that capacity and an effective partition will efface the family as a unit for assessment of income-tax. where the asset of the family in question which is subjected to division is a share in a partnership concern, there need be no immediate change .....

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