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Judgment Search Results Home > Cases Phrase: income tax act Year: 1950 Page 1 of about 206 results (0.112 seconds)

Jan 11 1950 (HC)

Al. Vr. Pv. Vr. Veerappa Chettiar Vs. the Commissioner of Income Tax

Court : Chennai

Decided on : Jan-11-1950

Reported in : AIR1950Mad692; [1950]18ITR396(Mad)

..... to state a case raising the following question of law:'whether on the facts of the case the sum of rs. 36,182/- can be assessed to income-tax under section 4 (1) (b) (iii), income-tax act.' 2. it is necessary to state briefly the facts which have given rise to the question of law involved in the case. the assessee veerappa chettiar was ..... of the profits were remitted to and received by him in british india and it was held that the profits received in british india were assessable under section 4 (2), income, tax act. this decision, in our opinion, has no application to the case of a partition of joint family properties. the position in respect of a partnership is different. each of the ..... /- out of this sum of rs. 1,00000/- as the share of profits that had accrued to the assessee at the time of the partition and subjected the same to income-tax under section 4 (1) (b) (iii), income-tax act as the said amount was brought over to british india. on appeal the appellate assistant commissioner set aside the order of the ..... divided from the family. till a partition is effected the hindu undivided family continues to be the owner of the entire property and the income derived therefrom. an undivided family may be represented by the manager, and assessed to income-tax through him. section 3, income-tax act, recognises this position and treats an undivided hindu family as a 'person' liable to assessment on the total .....

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Oct 06 1950 (HC)

Ambaram Kalidas Vs. Commissioner of Income-tax, Bombay North

Court : Mumbai

Decided on : Oct-06-1950

Reported in : AIR1951Bom207; [1951]19ITR227(Bom)

..... that it deals under sub-section (1) with the case of a business which is discontinued and which has not been subjected to double taxation having paid tax under the provisions of the indian income-tax act, 1918, and the provision of sub-section (1) is that if a business is discontinued in the middle of a year, then the business which is discontinued ..... . 1. the facts giving rise to this reference may be briefly stated. the assessee is a hindu undivided family. it is a dealer in cloth and was taxed under the provisions of the indian income-tax act, 1918. its accounting year was samvat year, and the joint family was disrupted on aso vad 30th, samvat year 2000, that is to say on the october ..... so much with the mode of taxing a business which is discontinued as with giving relief to a business from double taxation. in sub-section (4) what is dealt ..... for a broken period, the business should pay tax not only for the previous year which it ordinarily would do, but also for the additional period being the period up to its discontinuance. turning to sub-section (4) with which we are concerned, it deals with a business which had paid tax under the indian income-tax act, 1918, and that sub-section deals not .....

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Oct 06 1950 (HC)

Ambaram Kalidas Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Oct-06-1950

Reported in : AIR1951Bom297; (1951)53BOMLR86

..... to be that it deals under sub-section (1) with the case of a business which is discontinued & which has not been subjected to double taxation having paid tax under the provisions of the income-tax act, 1918, & the provision of sub-section (1) is that if a business is discontinued in the middle of a year, then the business which is discontinued has ..... chagla, c.j. 1. the facts giving rise to this reference may be briefly stated. the assessee is a hindu undivided family. it is a dealer in cloth & was taxed under the provisions of the income-tax act, 1918. its accounting years were samvat years, & the joint family was disrupted on aso vad 30th, samvat, year 2000, that is to say on 17-10-1944 ..... with the mode of taxing a business which is discontinued as with giving relief to a business from double taxation. in sub-section (4) what is dealt with ..... for a broken period, the business should pay tax not only for the previous year which it ordinarily would do, but also for the additional period being the period up to its discontinuance. turning to sub-section (4), with which we are concerned, it deals with a business which had paid tax under the income-tax act, 1918, & that sub-section deals not so much .....

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Oct 10 1950 (HC)

Haji Ahmad Haji Esak and Co. Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Oct-10-1950

Reported in : AIR1951Bom299; (1951)53BOMLR89; ILR1951Bom748

..... has been urged by sir jamshedji on behalf of the assessee is that there has not been a proper compliance with section 15, excess profits tax act. section 15, excess profits tax act, is in terms similar to section 34, income-tax act, as it was before the recent amendment. section 15, as section 34, requires, as has been often pointed out, three conditions which have ..... of the assessment, & it is contended that the dealing by mr. dastur of the assessee's case offends against the provisions of section 54, income-tax act. section 54 safeguards all disclosures made by an assessee in connection with income-tax proceedings & treats all this information as confidential, & it penalizes any public servant who discloses any such information. now in asking mr. dastur to ..... different view of the law from his predecessor, & the question that sir john beaumont & myself had to considerwas whether a mere change of opinion of the law warranted the income-tax officer to act under section 34, & it was in relation to these facts that certain observations were made by the learned chief justice & myself. sir john beaumont stated that in order ..... got to be fulfilled before the excess profits tax officer or the income-tax officer is empowered to re-open an assessment already made. there must be a .....

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Sep 25 1950 (HC)

Gaya Ram Gabbu Lal Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Sep-25-1950

Reported in : AIR1952All325; [1951]19ITR114(All)

..... the assessment orders without issuing fresh notices under sections 22 (4) and 23 (2), income-tax act. in view of the provisions of section 5 (7a), income tax act, fresh notices were not necessary. that sub-section is as follows:'5(7a) the commissioner of income-tax may transfer any case from one income-tax officer subordinate to him to another, and the central board of revenue may transfer any ..... in the application or in the statement of the case and so far as we know, the income-tax officers are authorised to exercise jurisdiction, in addition to their own duties, under the excess profits tax act.12. in view of the provisions of section 5 (7a), income-tax act, quoted above, our answer to this question can only be that no fresh notices were necessary.13 ..... structures ltd. v. e. a. briggs, 1949-17 i. t. r. (supp.) 30.9. we cannot, in these circumstances, say that he could not have issued notice under section 34, income-tax act. our answer to the first two questions is, therefore, in the affirmative.10. as regards the third question, the facts are that the commissioner of ..... year to the assessment year 1940-41, was entered as fictitious deposits in the next year, the income tax officer believed that a part of the income in the assessment year 1940-41 had escaped assessment. thereupon he issued notice to the assessee under section 34, income-tax act.5. the statement of the case does not clearly set out the facts mentioned by us above .....

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Nov 14 1950 (HC)

Sm. Indermani Jatia Vs. Comr. of Income-tax

Court : Allahabad

Decided on : Nov-14-1950

Reported in : AIR1951All652; [1951]19ITR342(All)

..... case, the expenditure of rs. 7,512 incurred in connection with a criminal litigation was an admissible expenditure within the meaning of section 10 (2) (xv), i.-t. act?' section 10 (2) (xv), income tax act, is as follows :'such profits or gains shall be computed after making the following allowances, namely :(xv) any expenditure (not being in the nature of capital expenditure or ..... the assessment year 1943-44 & rs. 47,029 from the assessment year 1944-45 could be legally deemed to have been received in british india & were liable to tax under section 4 (1), income-tax act?'the tribunal's finding on the point is as follows:'the assessee's counsel does not dispute the contentions of the dept. that the sum has been lent ..... interest paid by it to the head office. interest in such cases should be deemed to have been received in british india, & it is clearly liable to tax under section 4 (1) (a), income-tax act. the amounts in dispute have been rightly added in the assessment.' 5. on the admissions made by the learned counsel for the assessee there can be no doubt ..... malik, c.j.1. this is a reference under section 66 (1), income-tax act by the income-tax appellate tribunal, allahabad bench. the assessee, rai bahadur seth ganga sagar jatia, was assessed to income-tax as an individual. the sources of income were from house property, dividends & business. the business was carried on in khurja under the name & style of ram dayal mahali ram & at khurja, aligarh & chistian .....

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Jan 18 1950 (HC)

The Anglo-french Textile Co. Ltd. by Agents, Best and Co. Ltd. Vs. the ...

Court : Chennai

Decided on : Jan-18-1950

Reported in : AIR1951Mad597; [1950]18ITR888(Mad); (1950)1MLJ547

..... ) both with reference to the legislative history of these provisions and the decisions that have been rendered on the language of section 42 (1) and the corresponding section 33 (1), income-tax act of 1918. it is unnecessary to repeat here the considerations which led us to the opinion that sections 42 (1) and 42 (3) would be applicable to cases like the ..... attributed to the purchase of entire cotton made in british india by the secretaries and agents of the assessee company, within the meaning of sections 42 (1) and 42 (3), income-tax act the facts giving rise to this reference are these: the anglo-french textile co., ltd., a public limited company incorporated in the united kingdom, owns a spinning and weaving mill ..... connection in british india and that a part of the profits earned by the foreign company as a result of such business connection was assessable to tax under sections 42 (1) and 42 (3), income-tax act. the net income of the company was computed to be rs. 2,81,176 and 10 per cent. of this sum was apportioned under section 42 (3) of ..... nob brought into british india. the learned judges of the bombay high court held that the third proviso to section 4 (1) (c), income-tax act applied to the case. incidentally the learned judges expressed the opinion that section 42 (1), income-tax act, had no application to the case of residents. when the matter went up on appeal to the judicial committee in commissioner of .....

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Feb 02 1950 (HC)

Commissioner of Income-tax, Madras Vs. K.R.M.T.T. Thiagaraja Chetty an ...

Court : Chennai

Decided on : Feb-02-1950

Reported in : AIR1952Mad305; [1951]19ITR261(Mad)

..... on the construction of the words 'sums received in the united kingdom' within the meaning of rule 2 of the rules applicable to-case iv schedule d of the english income-tax act, 1842 cited above. this was not a decision with reference to the assessment of the gains and profits of a business, profession or vocation. the question arose with reference to ..... lord macmillan treated the profits and gains of a managing agent remunerated by a percentage of the profits of the company as business profits to which section 10 of the income-tax act would be applicable and the managing agency itself as a business. that the remuneration of a managing agent can be considered to be part of the profits of the managing ..... . by an order of this court in c. m. p. no. 2928 of 1947 dated 25th august 1947, the appellate tribunal was directed under s. 66(2) of the indian income-tax act to refer to this court the following two questions and they have been accordingly referred to us. they are : '1. whether there is any material for the tribunal's finding ..... cash payments, entries being made only when money is actually collected or disbursed.'there was nothing in the income-tax act of 1918 against the adoption of this system of mercantileaccountancy by a trader in computing his income for purposes of assessment to income-tax. section 13 of the income-tax act of 1922 expressly recognises this system as a basis for the computation of profits and gains. 30 .....

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Jan 18 1950 (HC)

The Anglo French Textile Co. Ltd. by Agents, Best and Co. Ltd. Vs. the ...

Court : Chennai

Decided on : Jan-18-1950

Reported in : AIR1950Mad647; [1950]18ITR906(Mad)

..... this morning in r. c. nos. 25 and 27 of 1947 and need not be repeated. the question that is referred to us in this reference under section 66 (1), income-tax act, by the appellate tribunal is as follows:'whether on the facts and in the circumstances of the case when an assessment has been made under section 23 (1 ..... ), income-tax act, determining the assesses company's income as 'nil' and when proceedings under section 34 were subsequently started to assess the income which the income-tax officer believed to have escaped assessment, the assessee company is entitled to claim that the loss of profits and gains ..... the valuation of the opening stock and the closing stock for the purpose of assessment and the effect of section 13 of the act. the decision in commissioner of income-tax, bengal v. mahaliram ramjeedas only lays down that the income-tax officer, before he initiates proceedings under section 34, is not bound to hold quasijudicial enquiry to determine whether profits had escaped assessment or ..... was a loss of a large amount which he was entitled to have it recorded under section 24 (2) of the act. the income-tax offices rejected this claim and dropped the proceedings under section 34 of the act as there was no income which accrued to the assessee or which is deemed to have accrued to the assessee during the accounting year. he was .....

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Jan 12 1950 (HC)

Commissioner of Income-tax Vs. Proprietors of The Hindu

Court : Chennai

Decided on : Jan-12-1950

Reported in : AIR1950Mad671; [1950]18ITR237(Mad)

..... on the facts of this case the appellate tribunal was right in holding that the period the profits of which were entitled to exemption from payment of the tax under section 25 (4), income tax act, 1939, was the period commencing from 1st july 1938 and ending with 29th february 1940 ?' 14. the facts relevant to this reference are these: the respondents ..... that the exemption claimed under section 25 (4) of the act applied only to the income of the period between 1st july 1939 to 29th february ..... that the firm was not liable to pay any tax on the income of the business of 'the hindu' during the period between 1st july 1938 to 29th february 1940, under section 25 (4), income-tax act, as the income of the raid business was charged to income-tax under the provisions of the indian income-tax act, 1918. the income-tax officer and the appellate assistant commissioner were of opinion ..... the facts of this case the appellate tribunal was right in holding that the period the profits of which were entitled to exemption from the payment of the tax under section 25 (4), income-tax act, 1939, was the period commencing from 1st july 1938, and coding with 29th february 1940,' in short, the dispute is whether the 'previous year' referred to .....

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