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Judgment Search Results Home > Cases Phrase: income tax act Year: 1952 Page 1 of about 269 results (0.249 seconds)

Sep 09 1952 (HC)

Bareilly Corporation Bank Ltd., Bareilly Vs. Commissioner of Income-ta ...

Court : Allahabad

Decided on : Sep-09-1952

Reported in : AIR1953All208; [1952]22CompCas322(All); [1952]22ITR470(All)

..... v. bhargava, j. 1. this is a reference by the income-tax appellate tribunal under section 66(1), income-tax act. the assessee is a limited banking company having among its objects the following. clause (a) to give loans or advances on personal or ..... loss could not be treated as a bad debt. the circumstances in the present case are entirely different. in this case, it is clear that the income-tax tribunal was fully justified in inferring that the property acquired from the rohelkhand ice factory was sold by the assessee as payment of the loan advanced and ..... of the lord chancellor in -- 'bomford v. osborne', (1942 10 i t r (sup) 27) and the views expressed in -- 'lalit ram mangilal v. commissioner of income-tax, u. p.', : [1950]18itr286(all) are, in no way, divergent. even the lord chancellorwas of the view that, where conclusions of facts are deduced from pure findings ..... etc., of the match factory by the assessee could or could not be held to be an adventure in the nature of a trade. what the income-tax authorities have held is that the acquisition and sale of this property by the assessee was a transaction entered into by the assessee 'in the course of ..... a transaction of moneylending business.learned counsel, in this connection, referred us to a decision of this very bench in -- 'gurucharan prasad jagannath prasad v. commissioner of income-tax u. p. and ajmer-merwara lucknow : [1951]19itr42(all) . the facts in that case were, however, quite different. in that case, the most important .....

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Oct 10 1952 (HC)

Govindram Ramnath and Co. Bombay Vs. Commissioner of Income-tax (Centr ...

Court : Mumbai

Decided on : Oct-10-1952

Reported in : [1953]23ITR1(Bom)

..... 1. the question that arises in this reference is as to the true construction of section 12a of the income-tax act. the assessee is a firm and in the relevant years of account it acted as the managing agents of seksaria sugar mills, ltd. the assessee firm entered into an agreement on 22nd ..... say that in every case where there is delay in filing the declaration the appellate assistant commissioner should send the matter back to the income-tax officer. but if the appellate assistant commissioner is satisfied that a ground is made out for condonation of the delay, he has certainly the ..... undoubtedly not have taken into consideration that declaration because it was out of time, but he could have sent the matter back to the income-tax officer and asked him to assess the assessee after taking into consideration that declaration. it is difficult to understand why the appellate assistant commissioner ..... exemption given to him under the provisions of that section. if every assessment is self-contained when we are considering the obligation of the income-tax officer, it must equally be self-contained when we are considering the rights of the assessee. the assessee must claim whatever right he is ..... with regard to each and every assessment that assessee has to satisfy the income-tax officer that he is sharing the managing agency commission with a third party or parties. a declaration once made and acted upon by the income-tax officer cannot endure for the benefit of the assessee in subsequent years of .....

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Oct 08 1952 (HC)

A. Moosa and Sons Vs. the Commissioner of Income-tax, Bombay City

Court : Mumbai

Decided on : Oct-08-1952

Reported in : AIR1953Bom239; (1953)55BOMLR149; ILR1953Bom643

..... profits and gains upon a certain basis which he adopted. in other words, the income-tax officer acted under the power given to him by the proviso to section 13, income-tax act. the proviso to section 13 leaves it to the income-tax officer to compute the profits upon such basis and in such manner as he may ..... determine. although the discretion is vested in the income-tax officer, the discretion cannot be exercised arbitrarily or capriciously ..... from the point of view of the principles which have been accepted as well settled in construing the proviso to section 13. in this case the income-tax officer found that the sales effected by the assessee in the accounting year approximated to rs. 5,90,000. out of these sales, sales of ..... is more just to the assessee and which involves a much less margin of chance and uncertainty should be taken as the basis. therefore what the income-tax officer has always got to bear in mind in resorting to the proviso to section 13 is the salutary principle that his main function is -- ..... in -- 'sun insurance office v. clark', (1912) ac 443 (a), where it becomes necessary to have recourse to some form of estimate by the income-tax department, that method should be adopted which approximates most near to the truth, and earl loreburn l.c. in his judgment at p. 454 emphasises the .....

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Mar 27 1952 (HC)

Lalbhai Dalpat Bhai Vs. Commissioner of Income-tax, Bombay North, Kutc ...

Court : Mumbai

Decided on : Mar-27-1952

Reported in : AIR1952Bom457; (1952)54BOMLR573

..... chagla, c.j.[1] a very interesting question arises on this reference as to the proper construction to be placed on the expression ''receivable' used in section 8, indian income-tax act. the assessee is a hindu undivided family and we are concerned with the assessment year 1945-46. the relevant account year was samvat 2000, the corresponding english dates being 30- ..... not the point on which the case in the privy council can be distinguished. the real ratio of that decision is that a debt due is not the same as income accruing or arising within the meaning of the income-tax act.[4] there is also a decision of the madras high court in arunachalam chettiyar & son v.commr. of inc ..... . tax, madras : [1935]3itr464(mad) . there the assessee was entitled to receive interest on his securities on march 15. he sold the securities on march 30 without having collected the interest ..... not been deducted in accordance with the provisions of section 18, in other words, when income-tax has not been deducted at the time of the payment of the interest to the assessee. what is more important is a consideration of the charging section, section 4 of the act. section 8 after all is a machinery section. it provides the mode of computation .....

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Aug 27 1952 (HC)

Madan Gopal Bagla Vs. Commr. of Income-tax, U.P. and Ajmer-merwara

Court : Allahabad

Decided on : Aug-27-1952

Reported in : AIR1953All141; [1952]22ITR464(All)

..... malik, c.j. 1. the point raised in this reference under section 66(1) of the income-tax act is: 'whether under the circumstances of the case income-tax appellate tribunal was right in disallowing the bad debt of rs. 26,251/- and the proportionate costs under question?'2. the assessee is seth madan gopal bagla, an individual. he ..... was recovered and the rest became a bad debt. the tribunal rightly relied upon the decision of the privy council ' in -- 'rm ar bn arunachalam chettiar v. c'ommr. of. income-tax, madras', (1936) 4 itr 173, where dealing with, the question, whether in a partnership business, which has ended in a loss, the partner, who had invested money in that business ..... the statement of the case learned counsel for the parties, with the permission of the court, read out to us the orders of the income-tax officer, the assistant commissioner and the appellate order of the tribunal. the income-tax officer in his assessment order said as follows :'on going through the accounts produced before me it appears that the debt relates to the .....

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Mar 19 1952 (HC)

Commissioner of Income-tax, Madras Vs. Ratanshi Bhavanji, Adoni

Court : Chennai

Decided on : Mar-19-1952

Reported in : AIR1953Mad358; [1952]22ITR82(Mad); (1952)2MLJ855

1. an interesting question has been referred to us for decision under section 66(1), income-tax act, by the income-tax appellate tribunal. the question for decision is:"whether on the facts and in the circumstances of the case, the taxed share income of rs. 22,440 from the unregistered firm of messrs. dharmashi bros., could be set off against the loss of rs. 52,569 sustained ..... to be carried forward under section 24 (2) of the act. the appellate tribunal reversed the decision of the revenue department and held that the loss could not be set off against the taxed share income from the unregistered firm received by the assessee during the year. at the instance of tile income-tax commissioner this reference was made to this court. the question is ..... , in order to arrive at the tax payable the total amount of the income-tax should be 7/10ths. it is only for this purpose and for this purpose alone the exempted portion of the income of the assessee enters into consideration in the process of assessing the income of the assessee for the purpose of tax under the act.4. the language of section 24(1 ..... ) when it speaks of "set off against his income, profits or .....

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Jan 29 1952 (HC)

M.M. Muthuwappa Vs. the First Additional Income-tax Officer, TuticorIn ...

Court : Chennai

Decided on : Jan-29-1952

Reported in : AIR1952Mad861; [1952]21ITR344(Mad); (1952)2MLJ50

..... is an application for issuing a writ of prohibition against the respondents, prohibiting them from taking proceedings under section 46 of the indian income-tax act or under the madras revenue recovery act, against the petitioner for the recovery of arrears of income-tax.2. the petitioner is a merchant carrying on business at no. 79, keyzer street, colombo and is now residing at madras. on ..... be a defaulter under section 45 of the act in respect of that part of the tax, which is due in respect of his income in ceylon and, therefore, neither the income-tax officer nor the 2nd respondent can initiate proceedings for recovery of the amount under section 46 of the act.5. the relevant provisions of the indian income-tax act (1922) read as follows:'45. any amount ..... 30-12-1948, for the year of assessment 1948-19, the first additional income-tax officer, tuticorin made an order assessing him to a tax of rs. 28 ..... authorities and, therefore, he is not a defaulter in respect of that part of the tax, which is due in respect of that foreign income. if so, the respondents have no power to collect that part of the tax by proceeding under sections 45 and 46 of the act.10. i, therefore, issue a writ of prohibition,prohibiting the respondents from taking coerciveproceedings to .....

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Mar 27 1952 (HC)

Lalbhai Dalpatbhai Vs. Commissioner of Income-tax, Bombay North

Court : Mumbai

Decided on : Mar-27-1952

Reported in : [1952]22ITR13(Bom)

..... a very interesting question arise on this reference as to the proper construction to be placed on the expression 'receivable' used in section 8 of the income-tax act. the assessee is a hindu undivided family and we are concerned with the assessment year 1945-46. the relevant account year was samvat 2,000, the ..... ratio of that decision that debt due is not the sane as the income or arising with in the meaning of the income-tax act. 4. there is also decision of the madras high court in arunachalam chettiar & son v. commissioner of income-tax, madras. there the assessee was entitled to the receive interest on his ..... purchase price. this was to be paid in 1921, but it was not paid, and the question arose whether the appellants were liable to pay income-tax on the interest not received by them in the year 1921. it is true that in this case not only the debtor was not paid in ..... accordance with the provision of section 18, in other words, when income-tax has not been deducted at the time of the payment the interest to the assessee. what is more important is consideration of the charging section, section (4) of the act. section (8) after all is a machinery section. it provides ..... the mode of computation of income under a particular head. but before anything can become income liable to tax, it must fall under section (4), and the question is, when does .....

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Oct 08 1952 (HC)

Commissioner of Income-tax, Bombay City Vs. Dwarkadas Vassanji

Court : Mumbai

Decided on : Oct-08-1952

Reported in : [1953]23ITR109(Bom)

..... against in respect of the profits of the firm which had escaped assessment. it is important to note that this decision was given in 1931 before the amendment of the income-tax act in 1939 and the position of a registered firm under the law then was very different from the position of a registered firm under the law at present. under the ..... full bench of the calcutta high court laid down that a partner of a registered firm whose profits escaped assessment in part can be assessed under section 34 of the income-tax act in respect of his share of that part, when proceedings under that section against the firm itself have failed for want of jurisdiction and fresh proceedings are time barred, and ..... in respect of his share. it is urged that section 23(5) is only a machinery laid down by the income-tax act for the assessment of registered firms under sub-clause (a) and unregistered firms under sub-clause (b). if the income-tax department avails itself of that machinery it must follow the provisions contained in those sub-clauses. but there is no compulsion ..... be perfectly true, with respect, in reference to the law with regard to firms and partners under the old income-tax act. the liability was conjoin both upon the firm and the assessee. but when we turn to the scheme of the present act, there is no liability to pay upon the firm at all and the liability is only upon the partners and .....

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Mar 27 1952 (HC)

Mote Shah and Co., Karad Vs. Commissioner of Income-tax, Bombay South ...

Court : Mumbai

Decided on : Mar-27-1952

Reported in : [1952]22ITR39(Bom)

..... to take the view that an appellate assistant commissioner exercising judicial functions cannot be judicially corrected by a higher judicial tribunal when obviously and unjustifiably he acts contrary to the rules framed under the indian income-tax act. the question framed by the tribunal does not really bring out the real point of law which we have to decide in this reference. the ..... ) of the indian income-tax rules and that rule provides that an application under section 26a shall be made with the permission of the appellate ..... in the firm is included in the individual assessment of the partner. therefore, when in this case in income-tax officer passed his assessment order, he rightly assessed the assessee as an unregistered firm as the had not been registered under section 26a of the income-tax act. when the assessee went to the appellate assistant commissioner, he made an application under rule 2(c ..... question suggested by the tribunal is whether if an appellate assistant commissioner does not pass any order on an application made for permission under rule 2(c) of the indian income-tax rules, 1922 .....

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