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Judgment Search Results Home > Cases Phrase: income tax act Court: chennai Year: 1970 Page 2 of about 40 results (0.056 seconds)

Dec 11 1970 (HC)

S. Naganatha Ayyar and ors. Vs. the Authorised Officer and ors.

Court : Chennai

Decided on : Dec-11-1970

Reported in : (1971)1MLJ274

..... 2 i.t.j. 809 : (1969) 78 i.t.r. 243, while construing the scope of proviso to section 12-b of the income-tax act of 1922, which brought to charge capital gains, that is gains made from sale, exchange or or transfer of capital assets, expressed that the said ..... ladies incurring a loss of rs. 26,760, treating the difference between the cost price and the sale price as a gift to the purchasers. the income-tax officer determined the market value of the shares under section 12-b (2) and treated the difference between the actual sale price and the market price as ..... prohibiting the transfer as such. section 21 dealing with acquisition by inheritance, bequest or any sale in execution of a decree after the commencement of this act also does not invalidate the transactions but merely enables the authorised officer to take into account those transactions for finding out the ceiling area of the transferee ..... the capital gain liable to be taxed. the tribunal treated the sale as a real transaction which was given effect to and acted upon by the parties, and which was not made with the object of avoidance or reduction of the ..... tax liability but made for the purpose of benefiting the ladies. this view of the tribunal was upheld. in that case it .....

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Apr 23 1970 (HC)

Secretary, Engineering Metal and Vs. the Management of Mysore Premier ...

Court : Chennai

Decided on : Apr-23-1970

Reported in : (1970)IILLJ381Mad

..... decided merely on the basis of the decisions under the income-tax act. the scheme of the payment of bonus act is quite different from the income tax act. it does not make the income assessable to tax under the income-tax act as the basis for the calculation of payment of bonus. if it did, naturally, we will have to be ..... , but was an independent transaction. thus, it is clear that even apart from the fact that in calculating the profits for the purpose of the payment of bonus act, the decisions under the income-tax act are not quite relevant, the conclusion to be reached even on an application of the principles to be adopted in determining the question whether a certain receipt is ..... question without reference to the opinion either of the auditors or of the advocates, whom the directors are said to have consulted.7. a large number of decisions under the income-tax act as regards capital receipts and revenue receipts were cited by both sides. i consider that while such decisions may be of some use in deciding this question, it cannot be ..... the sums specified in schedule iii like dividends and return on the capital. thus, these deductions are, of course, with reference to the provisions of the income-tax act. but under section 7 in calculating the direct taxes payable by the employer, no account shall be taken of-(i) any loss incurred by the employer in respect of any previous accounting year and carried .....

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Mar 26 1970 (HC)

K.A. Bari Vs. the State of Tamil Nadu

Court : Chennai

Decided on : Mar-26-1970

Reported in : [1970]26STC290(Mad)

..... default at the instance of the appellant if sufficient cause is shown for non-appearance, while such a provision was not there under the appellate tribunal rules framed under the income-tax act considered by the supreme court. it was said that the reasoning adopted by the supreme court for invalidating rule 24 of the appellate tribunal rules that the remedies available to ..... 36(3). the opening words of section 36(3) 'in disposing of the appeal' practically and substantially convey the same meaning as 'thereon' used in section 33(4) of the income-tax act.14. another reason suggested on behalf of the state for non-applicability of the decision of the supreme court to the case on hand is that there is a provision ..... one on hand came up for consideration. there rule 24 of the appellate tribunal rules, 1946, framed in exercise of the powers of the tribunal under section 5a of the income-tax act enabling dismissal of an appeal by the tribunal for default of the appearance of the appellant came up for consideration. a special bench of this court held that in ascertaining ..... . walchand and co. (p.) ltd. : [1967]65itr381(sc) , the supreme court, while considering the words 'pass such orders thereon as it thinks fit' in section 33(4) of the income-tax act, 1922, had expressed that the said expression is intended to define the jurisdiction of the tribunal to deal with and determine questions which arise out of the subject-matter of .....

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Mar 26 1970 (HC)

Thiru K.A. Bari, Proprietor, Hotel Bharani and anr. Vs. the State of T ...

Court : Chennai

Decided on : Mar-26-1970

Reported in : (1971)1MLJ11

..... default at the instance of the appellant if sufficient cause is shown for non-appearance, while such a provision was not there under the appellate tribunal rules framed under the income-tax act considered by the supreme court. it was said that the reasoning adopted by the supreme court for invalidating rule 24 of the appellate tribunal rules that the remedies available to ..... 36(3). the opening words of section 36(3) 'in disposing of the appeal' practically and substantially convey the same meaning as 'thereon' used in section 33(4) of the income-tax act.12. another reason suggested on behalf of the state for non-applicability of the decision of the supreme court to the case on hand is that there is a provision ..... on hand came up for consideration. there rule 24 of the appellate tribunal rules 1946, framed in exercise of the powers of the tribunal under section 5(a) of the income-tax act enabling dismissal of an appeal by the tribunal for default of the appearance of the appellant came up for consideration. a special bench of this court held that in ascertaining ..... . walchand & co. (p.) ltd. : [1967]65itr381(sc) , the supreme court, while considering the words 'pass such orders, thereon as it thinks fit' in section 33(4) of the income-tax act, 1922 had expressed that the said expression is intended to define the jurisdiction of the tribunal to deal with and determine questions which arise out of the subject-matter of .....

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Aug 14 1970 (HC)

Kamadhenu Metal Rolling Mills (P.) Limited Vs. the State of Tamil Nadu

Court : Chennai

Decided on : Aug-14-1970

Reported in : [1971]27STC536(Mad)

..... of the powers conferred by those words by the tribunal could only be on the merits of the appeal. the supreme court said:the scheme of the provisions of the income-tax act, 1922, relating to the appellate tribunal apparently is that it has to dispose of an appeal by making such orders as it thinks fit on the merits. it follows from ..... order thereon as it thinks fit. 5. those are the identical words employed by section 33(4) of the indian income-tax act, 1922, in conferring power upon the income-tax appellate tribunal. construing those words in the light of the scheme of the income-tax act, particularly section 66 relating to the reference of a question of law arising out of the order of the tribunal, to ..... of the scope of section 36(3) of the madras general sales tax act, 1959. neither the language of that section nor the scheme of that act are in pari materie or analogous to that of section 33(4) of the income-tax act, 1922. further, regulation 9 framed under the madras general sales tax act itself confers power upon the tribunal to set aside its orders dismissing ..... .... respondent) was dismissed in limine on the view that the tribunal had the power to dismiss appeals for non-prosecution. the court pointed out that the scheme of the income-tax act was entirely different, and that there was nothing in the madras general sales tax act, which was inconsistent with the power to dismiss for default, expressly given by the regulations framed under the .....

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Aug 14 1970 (HC)

Khamadenu Metal Rolling Mills (P.) Ltd. Vs. the State of Tamil Nadu

Court : Chennai

Decided on : Aug-14-1970

Reported in : (1971)1MLJ505

..... of the powers conferred by those words by the tribunal could only be on. the merits of the appeal. the supreme court said:the scheme of the provisions of the income-tax act, 1922, relating to the appellate tribunal is that it has to dispose of an appeal by making such orders as it thinks fit on the merits. it follows from the ..... , pass such order thereon as it thinks fit.those are the identical words employed by section 33(4) of the indian income-tax act, 1922, in conferring power upon the income-tax appellate tribunal. construing those words in the light of the scheme of the income-tax act, particularly section 66 relating to the reference of a question of law arising out of the order of the tribunal ..... of the scope of section 36(3) of the madras general sales tax act, 1959. neither the language of that section, nor the scheme of that act, are in pari materia or analogous to that of section 33(4) of the income-tax act, 1922. further, regulation 9 framed under the madras general sales tax act itself confers power upon the tribunal to set aside its orders dismissing ..... 1969 was dismissed in limine on the view that the tribunal had the power to dismiss appeals for non-prosecution. the court pointed out that the scheme of the income-tax act was entirely different, and that there was nothing in the madras general sales tax act, which was inconsistent with the power to dismiss for default, expressly given by the regulations framed under the .....

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Mar 13 1970 (HC)

L.V. Veeri Chettiar and anr. Vs. Sales Tax Officer, Bombay

Court : Chennai

Decided on : Mar-13-1970

Reported in : AIR1971Mad155; [1970]26STC579(Mad)

..... the above decision was the primary cause for the introduction of the new section 19-a in the madras general sales tax act.11. reference was also rightly made by the learned counsel for the petitioners to the provisions of the income-tax act only to sustain his argument that there should be a specific provision in a fiscal enactment enabling the assessing authority to ..... assess a dissolved firm and bring to tax its dealings during its pre-dissolution period. though an argument was hesitantly raised by the ..... explain the nature of those transaction."in effect, therefore, the petitioners challenged the factual hypothesis which prompted the respondent to issue the notice under the provisions of the bombay sales tax act and purported to exercise jurisdiction thereunder. it appears that the petitioners' representative interviewed the respondent on or about 11th august 1966 and the position was made clear to him. ..... a manner favourable to the tax payer. in considering a taxing act, the court is not justified in straining the language in order to hold a subject liable to tax.though under the partnership law a firm is not a legal entity but only consists of individual partners for the time being, for tax law, income-tax as well as sales tax, it is a legal entity .....

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Dec 21 1970 (HC)

Srinivasa Naicker and anr. Vs. A.N. Nagappa Chettiar

Court : Chennai

Decided on : Dec-21-1970

Reported in : [1971]41CompCas550(Mad)

..... in the ordinary course even though they are not original proceedings. in that case their lordships of the federal court held that, though a proceeding under section 46 of the income-tax act cannot be construed as a proceeding in any ordinary court of law which will be comprised within the words ' other legal proceeding ' occurring in section 171, the ..... have to apply for leave of the winding-up court before issuingthe certificate contemplated in section 46(2) by the collector for the collection of arrears of income-tax. in view of this decision it is not possible to confine the scope of section 446 only to original proceedings as contended for by the learned counsel for the petitioners. ..... )(b) of the provincial insolvency act to substantiate his contention that the words 'other legal proceeding' can refer only to original proceedings initiated against the company.3. in periakarupa thevar v. vettai alias ocha thevar : ..... such as suits, etc., and not to interlocutory applications in a pending suit. the learned counsel contends that the words 'other legal proceeding ' in section 446(1) of the companies act have to be construed as to denote original proceeding and that they cannot comprehend interlocutory applications in a pending proceeding. the learned counsel compares this provision with section 16(2 .....

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Mar 21 1970 (HC)

Oveekee Textiles Vs. the Deputy Commercial Tax Officer

Court : Chennai

Decided on : Mar-21-1970

Reported in : [1971]27STC439(Mad)

..... the closed assessment. one other contention of the petitioners is that any disclosure made by the petitioners to the income-tax commissioner was protected under section 68(8)(a) of the finance act, 1965, and such a con fidential information being statutorily inadmissible no reliance can be placed upon it by the ..... conten tion that the assessing officer having referred to the reports of the police and to the confessions made by the petitioners to the income-tax officer he should be pinned down to the information contained in such reports or confessions and in the absence of an open disclosure of ..... in the office of the superintendent of police, economic and offences wing, madras, as also certain statements made by the petitioners before the commissioner of income-tax, central division, madras. on such a perusal of the records as above it was found that the petitioners did not utilise the imported art ..... and the confessions made by him to the income-tax department. the burden of proof of establishing that any dealer or any of his transactions is not liable to tax under the madras general sales tax act lies on the dealer. section 10 of the act provides for it. even the supreme court has ..... sufficient reason for the assessing authority to act under section 16. the point that is made out by the assessee is that the police reports were not made available to them and no reliance can be placed upon their confessional statement before the income-tax officer. this would be begging the question .....

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Oct 30 1970 (HC)

P. Shankar Rao Vs. the Government of India, Represented by the Home Se ...

Court : Chennai

Decided on : Oct-30-1970

Reported in : (1971)1MLJ302

..... was not likely to fetch a better price, because the lessee was in heavy arrears of rent to the jenmi and that it would constitute an encumbrance. the agricultural income-tax officer, who was also present at the sale, recommended that the sale be set aside because of some irregularities. the collector in his order of confirmation of 13th november ..... already been purchased by muthoor pillai. lakshmi planting company fell into arrears of agricultural income-tax to the tune of rs. 11,000. the agricultural income-tax department addressed the collector to arrange far the sale of the leasehold right for realising the arrears under the revenue recovery act. during the revenue sale proceedings the plantation was attached and muthoor pillai was appointed ..... 2 proceeded on the basis that shankar rao as collector confirmed a certain sale held for collection of arrears of agricultural income--tax, in favour of muthoor pillai without acceding to the request of the assistant commissioner of agricultural income--tax to hold a resale and that the action o the collector in confirming the sale was to benefit muthoor pillai. the ..... wattle, tea and coffee, belonging to private owners had to be acquired. the project was considered urgent, and to avoid the delay with normally proceedings under the land acquisition act would entail the electricity department decided to enter and take possession of the land which they required, in advance of formal land acquisition proceedings. for this purpose, the authorities .....

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