Court : Kolkata
Decided on : May-10-1950
Reported in : AIR1953Cal314,21ITR490(Cal)
..... exercise even after the assessment has been made. he can, as the tribunal has pointed out, exercise the powers under sections 34 and 35, income-tax act if he considers that any portion of the income of the assessee has escaped assessment. the making of an assessment by itelf is no bar to an order for transfer of the case to any ..... area.8. on 8-9-1944, the commissioner of income-tax (central) calcutta in exercise of his power under section 5(5), income-tax act assigned the income-tax case of the assessee to the income-tax officer, central circle iv, calcutta.9. on such assignment the excess profits tax officer, companies district no. ii, who was also the income-tax officer, companies district no. ii, transferred the excess profits ..... 12-1941, the corresponding assessment year under the income-tax act being 1942-43.4. on 24-2-1943, the income-tax officer, companies district no. ii, made the income-tax assessment of the assessee for the assessment year 1942-43. he was the officer who was exercising the functions of an income-tax officer under section 5(5), income-tax act in regard to the case of the assessee ..... 1-9-1944, the central board of revenue, in exercise of their power under section 5(2), income-tax act assigned the case of the assessee to the commissioner of income-tax (central) calcutta. that section authorises the central government to appoint a commissioner of income-tax for any area specified in the order of appointment to discharge the functions of a commissioner in respect .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-12-1950
Reported in : AIR1953Cal329,21ITR241(Cal)
..... to the question put to us is in the negative and the debattar property is not wholly exempt from taxation under section 4(3) (i), income-tax act.17. the commissioner of income-tax is entitled to his costs of this reference,18. the administrator-general will pay his own costs and the costs of the commissioner out of the estate ..... 12-8-1927 and the testator died about six months later. though the endowment has been in existence all these years, no evidence was produced before the income-tax authorities to show that the public had as a matter of right any access to the thakurbati or had anything to do with the management of the thakurbati ..... banerjee, j.1. this is a reference under section 66, income-tax act. the question referred to us is as follows:'whether on a proper construction of the will dated 12-8-1927, made by manicklal dutt, the ..... referring judgment --'manohar mukherji v. bhopendranath', 60 cal 452 (fb), rankin c. j. observed:'a direction that the shebait shall spend any surplus income on certain charitable objects or pious acts is not uncommon in hindu debattars.'it appears to us that in this case the direction of the testator to spend money for the feeding of ..... may be left after payment of the said monthly sum of rupees two hundred and fifty and the commission of the administrator general for collection of the income of the said debutter fund and the expenses of the periodical and other repairs and upkeep of the thackoorbati shall be spent for the performance of periodical .....Tag this Judgment!
Court : Kolkata
Decided on : May-03-1950
Reported in : AIR1951Cal309,18ITR743(Cal)
..... the assessee was the said deity through kumar arun chandra singha, as shebait.6. before the income-tax officer, a claim' was made on behalf of the assessee for total exemption under section 4 (3) (i), income-tax act. the income-tax officer held that the purpose for which the endowment was created was strictly private and that the ..... for charitable purposes. sir george rankin in considering the question observed incidentally as follows :'it is to be observed, moreover, that under the income-tax act the test of general public utility is applicable not only to trusts in the english sense but is to be applied to property held ..... in section 4 of the act is in the following terms.'section 4 ........................................(3) any income, profits or gains falling within the following classes shall not be included in ..... upon a proper construction of the deed (arpannama) dated 7-9-1861, the income of the endowed property of sree sree iswar gopal bigraha or any part thereof is exempt from taxation under the provisions of section 4 (3) (i), income-tax act, read with the explanation of that sub-section.'10. the relevant exemption clause ..... sinha, j.1. this is a reference under section 66 (1), income-tax act.2. the facts which have given rise to this reference may be stated as follows.3. by a registered instrument of dedication, .....Tag this Judgment!
Court : Kolkata
Decided on : May-15-1950
Reported in : AIR1951Cal349,21CompCas172(Cal),54CWN721,19ITR1(Cal)
..... & obtains a greater price for it than he originally acquired it, at the enhanced price is not profit in the sense of schedule d, income-tax act of 1842 assessable to income-tax. but it is equally well established that enhanced values obtained from realisation or conversion of securities may be so assessable where what is done is ..... is another proposition altogether that, where that is not a trade, a gain or loss upon the purchase & re-sale of property comes within the meaning of the income-tax acts. take even proper traders ; if proper traders sell their old premises & buy new ones, & sell the old premises at a higher price than they paid ..... sell parts of his estate for building purposes, but his trade as a game farmer does not bring his sales as a landowner within the income-tax acts; and i see no difference in this respect between his position and that of the co.'18. the profits realised from the sales of the ..... business' of the assessees. that being so, the profits made on the sales of investments were liable to assessment under the income-tax act.34. the appellate tribunal relied strongly upon the case of dalmia cement ltd. v. comr. of income-tax, bihar & orissa, 22 pat. 742 : (a. i. r. (31) 1944 pat. 102) in which it ..... shares of another co. and thus promoted and advanced its own interest, it was a business transaction within the meaning of the income-tax act and that it was not an investment transaction, & that the profits made by the sale of such purchased shares were liable to be .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-06-1950
Reported in : AIR1952Cal194,21CompCas189(Cal),19ITR623(Cal)
..... is excluded except for certain purposes. but that does not mean that the directors' fees are not to be deducted. it is conceded that there is no provision in the income-tax act for apportionment of directors' fees and unless there is some statutory provision i cannot see how such an apportionment could be made except by agreement. had it been agreed that ..... jaijeerao cotton mills limited, gwalior in order to determine the profits of the gwalior mills which are to be exempted from taxation under section 14 (2) (c) of the indian income-tax act?'2. the case is concerned with assessments made on the assessees in respect of the years 1943-44, 1944-45 and 1945-46. the point raised is the same in ..... amount of the expenses which can be deducted cannot be made to depend upon how much of their work is attributed to the income which is made assessable under the indian income-tax act. their work must be regarded as a whole. they worked and were paid as directors of the company and in assessing the company the payment must be regarded as a ..... which can be set off against the earnings for the purposes of arriving at the net income.7. the taxing authorities however contended that as part of the income of messrs. birla brothers was not liable to tax by reason of section 14 (2) (c) of the indian income-tax act the whole of the directors' fees could not be treated as legitimate expenses which could be .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-25-1950
Reported in : AIR1952Cal403,19ITR451(Cal)
..... they are also nonresident in india & messrs. turner morrison & company limited, calcutta have been appointed statutory agents of the port said association by the income tax/excess profits tax officer under section 43 of the income tax act.3. the port said association limited obtain and manufacture salt in egypt. they assign this salt to messrs. turner morrison & company limited for sale at ..... the ambit of section 4 (1) (a) that being so, there is no necessity for the income tax authorities when levying income tax to rely on section 42, income tax act, which does not deal with income, profits or gains received in india but only with income, profits or gains deemed to accrue or arise in india. the assesee company cannot therefore invoke the aid ..... court, the reference being in relation to cases under the income tax act, as well as those under excess profits tax act. if therefore the assessee company can show that the income taxed under the excess profits tax act is income which is deemed to arise or accrue in india within the meaning of section 42(1), income tax act, & that all the operations of the business through which ..... concerned. the third question must be answered in the affirmative so far as the levy of income tax is concerned. section 42, income tax act, has no application to the levy of income tax on this case as income tax has been levied properly & legally on income, profits & gains received by messrs. turner morrison & co. ltd., in india on behalf of the assessee company.16. .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-28-1950
Reported in : AIR1951Cal430,19ITR538(Cal)
..... the certificate officer, 24-parganas.8. mr. meyer then contends that this appln. is not maintainable in view of the provisions of section 67, income-tax act. section 67, income-tax act runs as follows :67. 'bar of suit in civil court. -- no suit shall be brought in any civil court to set aside or ..... to the conclusion that the powers conferred by article 226, indian constitution, are not subject to the restrictions imposed by the provisions of section 67, income-tax act, & the same cannot override or control the provisions of article 226, indian constitution.14. mr. meyer appearing on behalf of the resp. then ..... 30-5-1950, the petnr. though his advocate made an appln. to the resp. asking him to withdraw the notices under section 46 (5a), income-tax act, in the said appln. it was inter alia stated as follows :'i have the honour to state that by an order of the certificate officer ..... that the appln. before me is under article 226, indian constitution & article 226, indian constitution, cannot be subject to the provisions of income-tax act. in other words he contends that article 226 of the constitution gives to the h. c. very wide powers which cannot be fettered by any ..... namely, messrs. chrestian mica industries ltd. & caused an attachment to be effected under section 46 (5a), income-tax act. by the said notice messrs. chrestian mica industries ltd. were required under section 46 (5a), income-tax act, 1922, to pay to the resp. forthwith any amount due from them to the petnr. or held by .....Tag this Judgment!
Court : Kolkata
Decided on : May-09-1950
Reported in : AIR1952Cal148,19ITR33(Cal)
..... be the allowance for that year, and so on for succeeding years; and(c) the aggregate of all such allowances made under this act or any act repealed hereby or under the indian income-tax act, 1886, shall in no case, exceed the original cost to the assessee of the buildings, machinery, plant or furniture as the case ..... given to a proviso to section 10 (2) (vi) of the indian income-tax act. the proviso has been materially changed by the income-tax amendment acts 1939 and 1940 and it will be better if i set out the relevant provisions of the act before the amendment and the provisions after the amendment.8. previous to 1939 ..... the year 1939-40 the unabsorbed depreciation as at the end of 1938-39 was to be brought forward.11. a further amendment was made by the income-tax (amendment) act, 1940 and section 10 (2) (vi) now reads as follows :in respect of depreciation of such buildings, machinery, plant or furniture, being the ..... be observed that indian oceangoing vessels are treated as 'plant', although that word is hardly a suitable one.10. this section was amended by the indian income-tax amendment act, 1939. for the words 'original cost' the words 'written down value' were substituted and also the words 'not being a year which ended prior ..... orderharries, c.j.1. this is a reference made by the income-tax appellate tribunal under section 66 of the indian income-tax act at the instance of the assessees.2. the question which has been formulated for the opinion of this court is as follows .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-13-1950
Reported in : 20ITR57(Cal)
..... harries, c.j. - this is a reference made under section 66(1) of the indian income-tax act in which appellate income-tax tribunal formulated the following question for the opinion of this court :-'whether on a construction of the deed dated 30th august, 1940, the tribunal was ..... above if necessary, according to his discretion and according to the times, but he shall have to maintain my main purpose.'mr. pal on behalf of the income-tax authorities has contended, and i think rightly that having regard to this provision the shares of the deities must be regarded as indeterminate. the shebait at his discretion ..... that the maximum rate should be applied under section 41 ?'the question was involved in five appeals to the income-tax tribunal.the income which was sought to be assessed in this case was income of certain deities and the income had been provided as the result of an arpannama dated 30th august, 1940, executed by sri nut behari ..... soul.'he then states that under the influence of that desire he dedicated certain sum of money to these deities. he then provided that from the annual income arising from these sums the worship of the deities and the festivals should be continued by installation of the images at the time of the festivals.provision ..... precise amount which had to be spent on the various festivals showed that each of the deities was given a determinate share in the income. if the income was rs. 2,000 then the shares were rs. 1,200, rs. 200 and rs. 600 and as i have said if the .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-13-1950
..... ), proviso (b), provides:where there is a common charge on both agricultural income assessable under this act and income chargeable under the indian income-tax act, 1922, and such charge is an allowance permissible both under this act and the indian income-tax act, 1922, then, if for the, purposes of the indian income-tax act, 1922, the part of such charge which is to be deemed to be ..... of the proviso to sub-section (1) of section 8, be calculated as such proportion of the common charge as such agricultural income bears to the total of such agricultural income and income chargeable under the indian income-tax act, 1922, in respect of which such common charge is incurred.8. it will be seen that the rule does not cover the ascertainment ..... been ascertained, then that will determine the proportion which can be given as an allowance for the purposes of assessing agricultural income. in short, in assessment of agricultural income the proportion of the income found in proceedings under the indian income-tax act will be binding.7. in the present case there has been no apportionment under section 8(1), proviso (b), ..... of the case, in the matter of computation of allowance admissible under section 6 (1) of the bengal agricultural income-tax act, 1944, rule 5 of the said act providing for apportionment of common charge between agricultural income and non-agricultural income has been correctly interpreted and applied ?2. the assessee is a zemindar and his zemindary comprised several touzis in the .....Tag this Judgment!