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Judgment Search Results Home > Cases Phrase: income tax act Court: mumbai Year: 1958 Page 5 of about 121 results (0.033 seconds)

Mar 24 1958 (HC)

Chhotalal Devchand Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Decided on : Mar-24-1958

Reported in : [1958]34ITR351(Bom)

..... be administered technically, irrespective of the justice it may do. we realise that the income-tax act is a technical act and questions of equity cannot be incorporated in construing the provisions of the law. but even the income-tax act must be construed so that the court, as far as it can possibly do so ..... the assessee firm sought registration and it was denied registration by all the three authorities - the income-tax officer, the appellate assistant commissioner and the tribunal. it was in existence and registered under the indian income-tax act from 1945 and the registration which was refused was for the assessment year 1954-55. it ..... court to which we have also referred in the industrial stores co.'s case, and that is reported in haridas premji v. commissioner of income-tax bengal. in the calcutta case the partnership was constituted by letters and a multiplicity of document, and the full bench there went to ..... share of each partner in the registered firm. this question also came up for consideration before this court in the case of commissioner of income-tax v. shantilal vrajlal, and there we held that the mere fact that in the account books of the partnership the profits were not taken ..... obviously, in coming to this conclusion, the tribunal had in mind the decision of the supreme court reported in dulichand laxminarayan v. commissioner of income-tax the view taken by the supreme court on the facts of the case it was considering was that a partnership could not be registered under .....

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Sep 23 1958 (HC)

Commissioner of Income-tax, Bombay City I Vs. Afco Private Ltd.

Court : Mumbai

Decided on : Sep-23-1958

Reported in : [1959]35ITR177(Bom)

..... of one anna, except according to the department for one condition and that condition is that the company is a company to which the provisions of section 23a of the income-tax act cannot be made applicable. it is urged that in fact the provisions of section 23a are applicable and inasmuch as the provisions of section 23a are applicable the assessee company ..... year for the assessment for the year ending on the 31st day of march, 1956, and the company is a company to which the provision of section 23a of the income-tax act cannot be made applicable, a rebate shall be allowed at the rate of one anna per rupee on the amount of such excess.' 2. now, it is not disputed by ..... been complied with. 5. now, considerable light is thrown on this controversy by this legislative history. in the finance acts prior to 1955 the words used were : 'and no order has be made under sub-section (1) of section 23a of the income-tax act, a rebate shall be allowed at the rate of one anna per rupee on the amount of such excess ..... undistributed balance of the profits as provided in clause (i) of the proviso to item b of part i of the first schedule to the finance act, 1955. this rebate was disallowed both by the income-tax officer and the appellate assistant commissioner, but was allowed by the tribunal and the question has now come before us on this reference, and what calls .....

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Sep 23 1958 (HC)

indore Malwa United Mills Ltd. Vs. Commissioner of Income-tax (Central ...

Court : Mumbai

Decided on : Sep-23-1958

Reported in : [1959]35ITR271(Bom)

..... that purpose, and sub-clause (c) is in the following words : '(c) the aggregate of all such allowances made under this act or any act repealed hereby, or under the indian income-tax act, 1886, (ii of 1886) shall, in no case, exceed the original cost to the assessee of the buildings, machinery, plant ..... that right is that if the law of his own state permitted him to carry forward the losses, then that right is preserved under the indian income-tax act. 7. the other question presents much less difficulty. as already pointed out, under the rules of taxation which prevailed in indore, the assessee was ..... under clause 3 it falls under the ordinary law. well, the argument is not conclusive, but undoubtedly it helps us in the interpretation of the income-tax act that the government realised that considerable hardship would be caused to the assessee who had the right of carrying forward the losses in their own state ..... economical and financial caused by the existence of indian states have been done away with and we have one state to which the income-tax act applies without any difference or distinction, and what we have to decide in this case is how the two different situations have got to be ..... , the difficulty is caused by the fact that in 1948-49 we had the indian state of indore and certain provisions applied under the indian income-tax act to the profits earned in an indian state. when we come to 1950-51, which is the year of assessment, the complications both political, .....

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Oct 03 1958 (HC)

Commissioner of Income-tax, Bombay City-i Vs. Gaekwar Foam and Rubber ...

Court : Mumbai

Decided on : Oct-03-1958

Reported in : [1959]35ITR662(Bom)

..... shall point out, a little later in our judgment, no judge has ever attempted to give a comprehensive definition of that expression. the income-tax act does not define the expression. this is just as well since it seems difficult to have a definition which may aptly meet with every particular ..... on this reference is : 'whether on the facts and in the circumstances of the case the assessee company is entitled to relief from taxed under section 15c of the income-tax act ?' 3. it has been argued before us by mr. g. n. joshi, learned counsel for the revenue, that the tribunal ..... . desai, j.1. a short but interesting question of construction of section 15c of the income-tax act arises for our determination on this reference, which comes before us at the instance of the commissioner of income-tax, bombay, under section 66 (1). the facts may be briefly stated. a partnership firm consisting ..... are taking. 14. there is some difference of judicial opinion about the canon of construction applicable to a provision for exemption in a taxing statute. in commissioner of income-tax v. chhaganlal & co. my brother tendolkar and i, although we took different paths, were agreed that a provision relating to exemption ..... help the building up of new industries, it has been provided that industries started after 1st april, 1948, will get some special benefits. the income-tax officer would have been right in not allowing the exemption if the business taken over by the assessee had been commenced prior to 1st april, .....

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Oct 07 1958 (HC)

H.S. CaptaIn Vs. Commissioner of Income-tax, Bombay City

Court : Mumbai

Decided on : Oct-07-1958

Reported in : [1959]36ITR84(Bom)

..... act of 1955. that sub-section as also explanation 2 to that sub-section were amended in 1955. here we are concerned with the ..... in the circumstances of the case, the sum of rs. 1 lakh received by the assessee from f.e. dinshaw ltd. is income of the assessee see and liable to be assessed under the income-tax act (2) whether on the facts and in the circumstances of the case, the assessee is entitled to the benefit of the f. ..... f. e. dinshaw ltd. was a capital receipt. the income-tax officer took the view that it was not compensation for the loss of employment but a payment made to an employee for past services. 5. it will be convenient here to refer to section 7(1) of the income-tax act as it stood before its amendment by the finance ..... come to an end if the jural relationship which created the legal status of master and servant between the parties was put an end to by a unilateral act of the employer it must result in a loss of employment from the point of view of the employee, and as we have already said when we ..... ' occur in explanation 2 to sub-section (1) of section 7. the material parts of the sub-section and the explanation are as under : 'salaries-(1) the tax shall be payable by an assessee under the head 'salaries' in respect of any salary or wages,..... in lieu of, or in addition to, any salary or wages, .....

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Apr 01 1958 (HC)

Petlad Bulakhidas Mills Co. Ltd. Vs. Raj Singl. and anr.

Court : Mumbai

Decided on : Apr-01-1958

Reported in : (1958)60BOMLR1271

..... to know of the order, which is the 27th january 1956, and therefore his application is within time.(3) mr. joshi has drawn our attention to various sections in the income-tax act where the legislature has expressly provided that limitation should run from the date of the service of the order, and mr. joshi says that if the legislature in section 33a ..... possibly have appealeds.(4) turning to the authorities, the madras high court has taken the same view of this section in a recent judgment in muthiah chettiar v. commr. of income-tax : [1951]19itr402(mad) . and the learned chief justice in his judgment points out at p.404 that the interpretation of the madras high court was based upon a salutary and ..... had an opportunity of knowing the order and therefore must be presumed to have had knowledge of the order.(5) the punjab high court in mahabir parshad v. commissioner os income-tax , has taken a different view, but with respect that view is orbiter because what was held by that court was that the particular order made could not be challenged as .....

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Apr 01 1958 (HC)

Petlad Bulakhidas Mills Co. Ltd. Vs. Raj Singh

Court : Mumbai

Decided on : Apr-01-1958

Reported in : AIR1960Bom12; [1959]37ITR264(Bom)

..... came to know of the order, which is january 27, 1956, and, therefore, his application is within time. 3. mr. joshi has drawn our attention to various sections in the income-tax act where the legislature has expressly provided that limitation should run from the date of the service of the order, and mr. joshi says that if the legislature in section 33a ..... possibly have appealed. 4. turning to the authorities, the madras high court has taken the same view of the section in a recent judgment in muthian chettiar v. commissioner of income-tax and the learned chief justice in his judgment points out at page 404 that the interpretation of the madras high court was based upon a salutary and just principle, viz ..... had an opportunity of knowing the order, and, therefore, must be presumed to have had knowledge of the order. 5. the punjab high court in mahabir parsed v. commissioner of income-tax has taken a different view, but with respect, that view is obiter because what was held by that court was that the particular order made could not be challenged as .....

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Mar 14 1958 (HC)

Commissioner of Income-tax, Ahmedabad Vs. Gokuldas Harivallabhdas

Court : Mumbai

Decided on : Mar-14-1958

Reported in : AIR1959Bom96; (1958)60BOMLR960; ILR1958Bom1162

..... the penalty proceedings and ultimately upon the court of appeal from that decision. in our opinion, that contention is untenable. it has often been said that each proceeding under the income-tax act is a self-contained proceeding and the findings in one proceedings do not become binding in respect of other proceedings. now, it is difficult to understand why this well-known ..... /-jaswantlal chimanlal rs. 2,534/-jayantilal chimanlal rs. 2,534/-sunderlal chimanlal rs. 2,534/-the last three being the sons of chimanlal. this entry was found by the income-tax officer, and when the assessee was called to explain this entry, his explanation was that his brother chimanlal had sold ornaments of his first wife and had kept with him ..... be found in a judgment of the allahabad high court in dwarka prasad v. commissioner of income-tax : [1953]24itr410(all) (a). what the allahabad high court held was that although the findings in the assessment proceedings may constitute a material on which the income-tax officer may act, in any penalty proceedings they do not constitute res judicata. therefore, it is perfectly open ..... to the income-tax officer in the penalty proceedings to consider his own finding that this receipt constituted an income for the assessment year, but he is not bound by that finding. .....

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Sep 30 1958 (HC)

Executors and Trustees of Cawasji Jehangir and ors. Vs. Commissioner o ...

Court : Mumbai

Decided on : Sep-30-1958

Reported in : AIR1959Bom404; (1959)61BOMLR373; ILR1959Bom1376

..... ,016/- for the purpose of determining the amount of income-tax and super-tax payable by the assessee share-holder on his total income and if so, whether that smaller portion of rs. 6,31,527/- is liable to be taxed at the rates applicable to 'capital gains' as laid down in section 17 (6) of the income-tax act, 1922.' we may state that the same question ..... , was as under: '23a. power to assess individual members of certain companies: (1) where the income-tax officer is satisfied that in respect of any previous year the profits and gains distributed as dividends by any company up to ..... the hands of the share-holders also at the rate appropriate to 'capital gains' as indicated in section 17 (6) of the act. the income-tax officer as well as the appellate assistant commissioner negatived that contention. the mater was carried in appeal by the assessees to the tribunal and the tribunal also dismissed that contention. ..... this total income shall be (i) income-tax and super-tax payable on his total income as reduced by the amount of such inclusion, had such reduced income been his total income....' clause (ii) has been altered. it relates to rates. section 23a as it stands today has also been recast. the material part of the section as it stood before its amendment by the finance act, 1955 .....

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Mar 25 1958 (HC)

H.A. Shah and Co. Vs. Commissioner of Income-tax, Bombay City

Court : Mumbai

Decided on : Mar-25-1958

Reported in : [1958]34ITR401(Bom)

..... must be exercised within a specific period, then the legislature would have so provided. but we look in vain for any provision in the income-tax act within lays down any period of limitation for the exercise of the appellate powers of the appellate assistant commissioner. in our opinion, in exercising ..... whether the addition of the sum of the rs. 1,50,000 by the appellate assistant commissioner was barred by section 34(3) of the income-tax act now, the contention urged by mr. palkhivala is that section 34(3) lays down a period of limitation for making an order of assessment, ..... case under section 34. we are not dealing with a case where the appellate assistant commissioner is seeking to assessee a new source of income, which the income-tax officer has not assessed; and another significant feature about this lahore case is that the lahore high court held and, with respect rightly, ..... power at any time. 5. mr. palkhivala has referred to a judgment of the lahore high court reported in ganeshi lal & sons v. commissioner of income-tax : [1938]6itr390(all) . that was a case which dealt with entirely different facts, and the principle which can be deduced from that decision cannot ..... exercise that discretion. now, this contention can no longer be put forward in view a recent decision of the supreme court reported in commissioner of income-tax v. mcmillan & co. 3. mr. palkhivala also wanted to argue that on the material before the appellate assistant commissioner he was not justified .....

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