Court : Supreme Court of India
Decided on : Apr-25-1958
Reported in : AIR1958SC783; 34ITR10(SC); (1958)IIMLJ168(SC); 1SCR690
..... : 'whether the said sum of rs. 2,02,442-13-9 being part of the amount embezzled by the assessee's minimum is allowable as a deduction under the indian income-tax act either under section 10(1) or under the general principles of determining the profit and loss of the assessee or section 10(2)(xv) ?' 4. the learned judges held that ..... venkatarama aiyar, j. 1. this is an appeal against the judgment of the high court of nagpur in a reference under section 66(1) of the indian income-tax act, 1922, hereinafter referred to as the act. 2. the appellant is the sole proprietor of a firm called bansilal abrichand kasturchand, which carries on business as money-lenders, dealers in shares and bullion and commission ..... took place after the office hours, and it was held, following the decision in ramaswami chettiar v. commissioner of income-tax i.l.r.  mad. 904, that it should not be allowed as a deduction under section 10(1) of the act, as it was not incidental to the carrying on of the trade. but it was observed by narasimham j., who ..... )(xi) for deduction of such a debt. in answering the question in the affirmative, lord russel observed : 'although the act nowhere in terms authorizes the deduction of bad debts of business, such a deduction is necessarily allowable. what are chargeable to income-tax in respect of a business are the profits and gains of a year; and in assessing the amount of the .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Apr-28-1958
Reported in : AIR1958SC875; 34ITR143(SC); (1958)IIMLJ182(SC); 1SCR703
..... the union of india and it raises a short question about the construction of section 35 of the income-tax act read with section 1, sub-section (2) and section 13 of the indian income-tax (amendment) act, 1953 (xxv of 1953). it arises in this way. the income-tax officer, by his assessment order made on october 9, 1952, for the assessment year 1952-53, assessed the ..... ) cannot be said to be final in the literal sense of the word. this order was and continued to be liable to be modified under section 35 of the act. what the income-tax officer has purported to do in the present case is not to revise his order in the light of the retrospective amendment made by section 13 of the amendment ..... be operative for any assessment for the year ending the 31st day of march, 1952, whether made before or after the commencement of this act and, where any such assessment has been made before such commencement, the income-tax officer concerned shall revise it whenever necessary to give effect to this amendment. the position under section 30, sub-section (2) of the amendment ..... section 18a(5) and the said right cannot be taken away by the retrospective operation of section 13 of the amendment act. the same argument is put in another form by contending that the finality of the order passed by the income-tax officer cannot be impaired by the retrospective operation of the relevant provision. in our opinion, this argument does not really .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Apr-28-1958
Reported in : AIR1958SC816; 34ITR514(SC); 1SCR729
..... in the calendar year 1948 were assessable for section 2006 (1949-50) at the rates in force according to the patiala income-tax act of s. 2001 read with section 3 of the patiala and east punjab states union administration ordinance (no. i of s. 2005), as repealed and re-enacted in section 3 ..... it has, on the other hand, recognised it as good and is, therefore, not entitled now to go back upon it, and that the levy of tax in accordance with the provisions of the indian income-tax act is accordingly illegal. as the contentions raised in the appeal and in the petition are substantially identical, they were heard together. 11. before us, the validity ..... in accordance with clause (23) of exhibit a or the provisions of the indian income-tax act, 1922. the income-tax officer, rohtak, rejected the contention of the appellant that it was liable to pay tax only in accordance with exhibit a and passed orders determining the tax under the provisions of the indian income-tax act for the year 1950-1951 on april 28, 1952, for 1951-1952 on ..... to recognise it, that there had been, in fact, no such recognition, and that, in consequence the tax was leviable as prescribed in the patiala income-tax act, section 2001. on the application of the appellant, the tribunal referred, under section 66(1) of the indian income-tax act, the following question for the opinion of the high court : 'whether the assessee's profits and gains earned .....Tag this Judgment!
Court : Kerala
Decided on : Sep-01-1958
Reported in : AIR1959Ker34
..... taken for obtaining the copy has to be excluded in computing the time for the appeal under section 115 of the travancore income-tax act corresponding to section 67a of the indian income-tax act.4. the learned counsel for the income-tax department conceded before us that if we were of the opinion that the assessee was entitled to exclude the time taken for ..... the opinion expressed in the madras and calcutta cases referred to above and hold that the assessee was entitled, under section 115 of the travancore income-tax act (corresponding to section 67a of the indian income-tax act) to exclude the time taken for obtaining the certified copies after the intimation received by him of the appellate assistant commissioner's order.7. ..... high court in rasipuram u. n. service v. income-tax commissioner, air 1957 mad 151; (a). in that case section 33(1) of the indian income-tax act (corresponding to section 45 of the travancore income-tax act), section 67a of the indian income-tax act (corresponding to section 115 of the travancore act), and rule 10(1) of the income-tax appellate tribunal rules 1946 have been considered; and ..... the appellate tribunal in time having due regard to sections 45 and 115 of the travancore income-tax act and the rules framed by the appellate tribunal in this regard?'2. section 45 of the travancore income-tax act corresponds to section 33(1) of the indian income-tax act, and provides :'any assessee objecting to an order passed by an appellate assistant commissioner under .....Tag this Judgment!
Court : Chennai
Decided on : Aug-06-1958
Reported in : AIR1959Mad56; 38ITR29(Mad)
..... is the liability of the assessee to pay these municipal rates in ceylon an "annual charge" within the meaning of section 9(1)(iv) of the income-tax act is the question.20. we have already pointed out that the liability to pay the rates was annual, though the ceylon ordinance permitted the payment in instalments. ..... four assessment years 1944-45 to 1946-48.13. we have to answer this question with reference to the relevant provisions of section 9(1) of the income-tax act, and the provisions of the ceylon municipal councils ordinance regulating the assessment, levy and collection of rates on houses in ceylon.14. the relevant provisions of ..... section 9(1) of the income-tax act ran:the tax shall be payable by an assessee under the head 'income from property' in respect of the bona fide annual value of property consisting of any buildings or lands appurtenant thereto of ..... dividend of rs. 7,500 received in the ' previous year' for 1945-46 assessment from the beverley estates, ltd., madras, is income exempt under section 4(3)(viii) of the income-tax act?the answer to this question is concluded by the authority of the decision of the supreme court inmrs. bacha f. gizdar v. commissioner ..... 1. six questions were referred for the determination of this court under section 66(1) of the income-tax act. it may not be necessary to set out over again the relevant facts to answer some at least of the questions.2. .....Tag this Judgment!
Court : Chennai
Decided on : Jul-09-1958
Reported in : AIR1959Mad81; (1958)2MLJ388
..... the taxable territories would. be less than the income that arose to it outside the taxable territories in that year.3. in effect the learned ..... 1. the two questions that were referred to this court for determination were :1. whether the words "income arising in the taxable territories" in section 4-a (c) of the income-tax act would also include agricultural income arising in taxable territories.2. whether the assessee was rightly assessed as a resident within the meaning of section 4-a(c).the answer to the second of ..... india for purposes of assessment to income-tax in the assessment year 1951-52. in computing the income that arose within the taxable territories in the relevant year the tribunal took into account a sum of rs. 4,40,341/- which constituted agricultural income as defined by section 2(1) of the income-tax act if that were ignored the taxable income that arose to the assessee within ..... counsel for the asses-see urged that the word "income" in the passage "income arising in taxable territories" should be .....Tag this Judgment!
Court : Chennai
Decided on : Apr-02-1958
Reported in : AIR1959Mad108; 34ITR540(Mad); (1958)2MLJ601
..... been passed after hearing both the petitioner and the authorised representative of the department. he added :'the appellant is not aware of any provision in the income-tax act or in the appellate tribunal rules' enabling the income-tax officer or his authorised representative to file an application concerning matters decided in the appeal after the order has been passed and communicated to the appellant ..... rs. 17,500 for 1947-48 and nothing should be added for 1946-47 and 1948-49.5. the petitioner applied to the tribunal under section 66(1) of the income-tax act to state a case and refer certain questions to the kerala high court in respect of the assessment for the years 1944-45, 1945 46 and 1947-48.6. on ..... balakrishna ayyar, j. 1. these are two petitions for the issue of appropriate writs to quash the order of the income-tax appellate tribunal, madras dated 3-1-1957, and made under section 35 of the income-tax act. w. p. no. 649 of 1957 relates to the assessment year 1948-49 and w. p. no. 650 of 1957 relates to the assessment year 1916-47 ..... fit, ignore the representation.18. the matter is covered by authority. section 33 of the income-tax act, as it stood before it was amended by act vii of 1939, authorised the commissioner of income-tax of his own motion to call for the record of a proceeding under the act which has been taken by an authority subordinate to him or by himself when exercising the .....Tag this Judgment!
Court : Chennai
Decided on : Sep-03-1958
Reported in : AIR1959Mad271; 35ITR362(Mad)
..... , merely because they were carrying on businesses at two different places under different styles and names.'the court further explained how the position under the indian income-tax act was different.18. the learned advocate general did not dispute that this decision being that of a division bench of this court is binding on us. ..... individual. although a firm is an assessable entity under the indian income-tax act a firm is not a legal entity. in the eye of the law a firm is a compendious expression used to indicate that several persons ..... by the assessee but is carried on by the assessee along with a partner or partners. mr. joshi says that a firm under the indian income-tax act is an assessable entity and therefore a distinction must be made between a business carried on by a firm and a business carried on by an ..... cotton seed in coimbatore. for the purpose of the indian income-tax act the firm in tanjore would be one entity and the firm in coimbatore would be another entity. the two would be wholly distinct. it would be ..... 23rd september 1944. he pointed out that though a firm is not a juristic person for all purposes it is an assessable entity under the indian income-tax act.two persons may enter into a partnership to trade, say in rice in tanjore. the very same persons may enter into another partnership to trade in .....Tag this Judgment!
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 : 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 .....Tag this Judgment!
Court : Mumbai
Decided on : Oct-07-1958
Reported in : 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, .....Tag this Judgment!