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Judgment Search Results Home > Cases Phrase: remittances Page 1 of about 28,587 results (0.014 seconds)

Jan 20 1930 (PC)

S.A. Subbiah Iyer Vs. Commissioner of Income-tax

Court : Chennai

Reported in : AIR1930Mad449

..... him in a country in which his profits from his business in that country are assessed to income-tax, the presumption is that the remittance is a remittance from out of the profits of the foreign business. the scottish provident institution v. john allan [1903] a.c. 129 followed in ..... capital previously sent out. he recognized that the foreign business was financed by borrowing at tinnevelly, and that these loans were repaid by remittances from foreign businesses. there was nothing to show as there was in the scottish' provident institution case that the investments still left in ..... of the court of exchequer (scotland) concluded his judgment: in the lower court with the observation that under the circumstances indefinite; remittances to this country must be presumed to consist of interest not of capital so long as the amount of capital remitted to australia for investment ..... apparently in order to escape the british tax, the australian branch office of the company had according to instructions accompanied each of the disputed remittances with a letter to say that it was towards particular advances, most of them made several years previously. on these facts the lord president ..... received at tinnevelly.22. the question before the commissioner was whether the balance according to the current, account as it is called of remittances passing during the year between the tinnevelly head office and the foreign branches of the assessee's business represent or must be presumed to .....

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Jan 20 1930 (PC)

S.S. Subbiah Iyer Vs. the Commissioner of Income-tax

Court : Chennai

Reported in : (1930)58MLJ581

..... him in a country in which his profits from his business in that country are assessed to income-tax, the presumption is that the remittance is a remittance from out of the profits of the foreign business. (the scottish provident institution v. john allan (1903) a.c. 129 followed in ..... replace capital previously sent out. he recognised that the foreign business was financed by borrowings at tinnevelly, and that these loans were repaid by remittances from foreign businesses. there was nothing to show as there was in the scottish provident institution case (1903) a.c. 129 that the ..... of the court of exchequer (scotland) concluded his judgment in the lower court with the observation that under the circumstances indefinite remittances to this country must be presumed to consist of interest not of capital so long as the amount of capital remitted to australia for investment ..... apparently in order to escape the british tax, the australian branch office of the company had according to instructions accompanied each of the disputed remittances with a letter to say that it was towards particular advances most of them made several years previously. on these facts the lord president ..... received at tinnevelly. '22. the question before the commissioner was whether the balance according to the current account, as it is called, of remittances passing during the year between the tinnevelly head office and the foreign branches of the assessee's business represent or must be presumed to be .....

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Jan 13 1966 (SC)

Commissioner of Income-tax, Bombay City Vs. Tata Locomotive and Engine ...

Court : Supreme Court of India

Reported in : AIR1966SC1506; [1966]60ITR405(SC); [1966]3SCR235

..... to in the paragraph above. this permission was granted by the reserve bank. dollars were changed into rupees and money received here. hence before there was actual remittance of $40,000 from u.s.a. to india, there was reconversion, the purpose having failed, of the sum if there was initial conversion as ..... reserve bank by itself did not convert the true nature of amount lying there. he was further of the view that the amounts available for remittance consisting of the commission and the reimbursement of expenses by baldwin locomotive works were acquired in the ordinary course of business of the sole selling agency ..... of $ 40,000 was repatriated to india. under similar circumstances in october, 1950, a sum of $ 9,500 was repatriated to india. though the two remittances from the u.s.a. to india of $ 40,000 and $ 9,500 fell into different accounting years, the case proceeded before the income-tax authorities ..... on september 16, 1949, there was a balance of $48,572/30 in the assessee's account with messrs. tata inc. made up as under : (1) remittances from bombay $ 33,850.00less : dollars spent in the $ 30,282.96u.s.a. for capital purposes ------------$ 3,567.04(2) amount reimbursed by baldwinlocomotive works ..... , opened with reference to your letter fc.by. 7031/74/46 dated 2nd october, 1946, as the same would go to reduce the amount of remittance to be made from here in recoupment of that amount from time to time. these amounts will be utilised solely for the purposes detailed in our letter .....

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Jan 15 1970 (HC)

R.M. Raja (Deceased) Vs. Commissioner of Income-tax, Bombay City Iii B ...

Court : Mumbai

Reported in : [1971]80ITR308(Bom)

..... , as stated earlier, it is not disputed that these accounts related to the assessees banking business. it must, therefore, be held that all the remittances during the two relevant years were made by the assessee in the course of his banking business. the tribunal has found that there were frequent transfers ..... the assessee was not carrying on only banking business. that fact, by itself, is not of importance. what has to be ascertained is whether the remittances from the native state into the taxable territories were in the course of the assessee's banking business. as the assessee was carrying on banking business ..... be liable to tax under section 4(1)(b)(iii). in the above bombay judgment it had not been proved that profits were available for remittances to british india and the department applied before the high court that the matter be remitted so that the income-tax officer could give the necessary ..... would be exceptions where the taxing department can clearly identify and prove any remittance as being out of accumulated profits and the ration of the judgment of the high court in the case of jankidas referred to in the above ..... and particularly if the flow either way is fairly equal, it would not be correct for the income-tax department to pick some individual items of remittances made in the normal course of banking business as being out of accumulated profits, because money is banker's stock-in-trade. of course, there .....

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Jun 27 1962 (HC)

Kalyanji Ukka and Co. Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Reported in : [1963]49ITR740(Bom)

..... assessee in non-taxable territories and the amounts equivalent to those profits were transferred from the non-taxable territories to the taxable territories, then the presumption would arise that the remittances are remittances of profits, but as pointed out in jankidas kaluram's case, it is not a presumption of law but one of fact and that presumption gets to a certain ..... cover it. but, unfortunately in this case, the assessee specifically expressed its inability to produce any correspondence between the head-office and the branches which would throw light on the remittances made by the branches to bombay as and when they were made. hence, the income-tax authorities adopted the second best method, which is certainly only a rough and ready ..... be said that as and when the latur branch received trading receipts, those receipts contained the profits attributable to those receipts, the business having resulted in profits. therefore, in the remittances of rs. 85,000 and rs. 5,000 received by bombay from latur were included profits attributable to them. 19. mr. joshi, however, argues that the aforesaid decision of ..... received in the taxable territories by him during such year.' 15. now to bring into operation the said provisions, the essential conditions which must be established are : (1) that the remittances should be out of income, profits and gains arising without the taxable territories. (2) the income, profits and gains should have accrued or arisen to the assessee : (3) they should .....

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Apr 06 1997 (HC)

Meena Mahendra Vakharia Vs. K.L. Verma and ors.

Court : Mumbai

Reported in : (1997)99BOMLR764

..... are subsidiary details of evidence suggesting modus operandi adopted by the detenu. they are merely referred to for elaborating the various steps taken by the detenu while making the 144 remittances abroad the name mentioned in the pay-in slip, the date, the amount and other details of the notes, their denominations and number is clearly legible. what was complained was ..... ,355/- were unauthorisedly made on the basis of forged and fabricated documents showing import of diamonds during 1991 -92 without the permission of the reserve bank of india. the said remittances had gone to 5 companies -(1) brilliant gems 26, bat avenue, t.s.t. kowloon, hongkong; (2) precious stars; (3) aarohi diamonds; (4) diamond ripple of usa, (5) yakito ..... ahmedabad were led to believe that the detenu had to make payments to the exporters abroad. assuming, therefore, that the detenu prevailed upon the bank officials at ahmedabad to make remittances abroad on the basis of incomplete documents, counsel for the respondents contends that this is not a ground for invalidating the order of detention.14. in reply to the second ..... of 7 documents were available, on the basis of which, some how, the detenu seems to have prevailed upon the bank officials at ahmedabad to agree to make remittances and infact the remittances have been made abroad. what is further complained of by the respondents is that without having actually imported the diamonds, bogus documents including bogus customs documents were prepared with .....

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Dec 21 1945 (PC)

Rani Amrit Kunwar Vs. Commissioner of Income-tax, Central and United P ...

Court : Allahabad

Reported in : AIR1946All306

..... kalsia state in the accounting year. the question, however, of the payments made to the rani from nabha state is a different one, because no remittance to her from her husband is involved in that case. the source of the payment was the maharaja of nabha, who was the rani's brother, ..... income.7. i do not think that in either of the judgments of the learned judicial members of the appellate tribunal the full significance of the word 'remittance' in sub-section (2) of section 4, indian income-tax act, 1922, in reference to the payments emanating from kalsia state has been appreciated. if ..... in the way of the british indian taxing authorities investigating the real character of such payments, to raise an absolute presumption against the wife that the 'remittances' as such are themselves taxable under the head of what is deemed to be her income irrespective of its true character. on the other hand, ..... right' the payments were respectively to be attributed. the income-tax officer in january 1941 found that kalsia state was an indian state and that the remittances received by the rani were out of state income and not out of the private income of the ruler; but he was unable to reach any ..... directed the income-tax officer to start assessment proceedings afresh'after reaching findings of fact, first whether kalsia state was an indian state; secondly, whether the remittances received by the rani were made out of the income of the state as such or out of the private income of its ruler; and, thirdly, .....

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Feb 16 1970 (HC)

B.R. Bamasi Vs. Commissioner of Income-tax, Bombay City Ii

Court : Mumbai

Reported in : [1972]83ITR223(Bom)

..... on the assessee without correlating or attempting to correlate the source of income and the possible amounts which could be treated as accumulated profits with the aggregate amount of the remittance. the tribunal's approach is incorrect. the appellate assistant commissioner has, in respect of the year 1945-46, approached the problem in a correct manner. the appellate assistant commissioner ..... assessee had accumulated profits in a non-taxable territory. they lay down a further principle that when accumulated profits are established by the department, there would be presumption that the remittances are out of the accumulated profits, i.e., not out of the assessee's monies other than accumulated profits and that therefore the burden is on the assessee to prove ..... the judgment on behalf of a division bench of this court, has considered the judgment in commissioner of income-tax v. jankidas and followed that judgment and stated that if remittances are made from a non-taxable territory into the taxable territories and if it is established that profits were available in the non-taxable territory, then a presumption would readily ..... conclusion, proceeded to ascertain the amount of profits which had accumulated in the hands of the assessee for the eleven years from 1st april, 1933, to 31st march, 1944, because remittances from iran out of the profits accumulated up to 31st march 1944, made during the accounting year 1st april, 1944, 31 march, 1945, would be relevant the assessment year 1945 .....

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Apr 27 1949 (PC)

Commissioner of Income-tax, East Punjab and Delhi Provinces Vs. Messrs ...

Court : Punjab and Haryana

Reported in : [1949]17ITR406(P& H)

..... court in favour of the assessee. one of the grounds on which their lordships based their answer was that the presumption that the remittance was a remittance out of the profits was a rebuttable presumption and had in their opinion been fully rebutted. the second ground on which they based ..... 31, 1932, a sum of guilders 14,750 was debited to this account and remitted to british india, it being common ground that this remittance represented a remittance of profits and it was taxed as such in british india. this left about guilders 3,000 standing to the assessees credit as profits. ..... not the presumption if initially raised has been rebutted.in view of the particular facts of this case in which there were remittances on both sides-which remittances were almost equal in their extent-difference between them not being very appreciable-the appellate tribunal declined to held that the sum ..... put an impossible obligation on the crown and make a very complicated investigation before the commissioner in any particular case necessary to ascertain whether the remittances were capital or not. slesser, l. j., in dealing with this contention of the attorney-general observed :-'i am inclined to agree with ..... tax. on a reference being made to the high court as to whether there was any justification for treating the entire amount of the remittances received as profits earned abroad and imported into british india the bench held that the ordinary presumption that money remitted from a foreign business .....

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Dec 21 1945 (PC)

Rani Amrit Kunwar Vs. Commissioner of Income Tax, C.P. and U.P.

Court : Allahabad

Reported in : [1946]14ITR561(All)

..... her income.i do not think that in either of the judgments of the learned judicial members of the appellate tribunal the full significance of the word 'remittance' in sub-section (2) of section 4 of the indian income-tax act, 1922, in reference to the payments emanating from kalsia state has been ..... in the way of the british indian taxing authorities investigating the real character of such payments, to raise an absolute presumption against the wife that the 'remittances' as such are themselves taxable under the head of what is deemed to be her income irrespective of its true character. on the other hand, ..... ,' because, when that sub-section is examined, it is found that, whether or not they were her income, they were, by virtue of their character as 'remittances received by' her, 'deemed' to be part of her income accruing in british india, sub-section (2) of section 4 of the act is in this language ..... the payments were respectively to be attributed. the income-tax officer in january, 1941, found that kalsia state was an indian state and that the remittances received by the rani were out of state income and not out of the private income of the ruler; but he was unable to reach any ..... the income-tax officer to start assessment proceedings afresh after reaching findings of fact, first, whether kalsia state was an indian state; secondly, whether the remittances received by the rani were made out of the income of the state as such or out of the private income of its ruler; and thirdly, .....

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