Chennai Court December 1958 Judgments
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Km. N. Sp. N. Valliammai Achi Vs. J.A. Ramachandra Ayyar and ors.
Court: Chennai
Decided on: Dec-03-1958
Reported in: AIR1959Mad433
Panchapakesa Ayyar, J.1. This civil miscellaneous appeal first came on for hearing before one of us (Basheer Ahmed Sayeed J.). As it was represented before him that it involved a question of law of considerable importance not covered by any decision of this court or any other High Court or Supreme Court till now, it was directed to be posted before a Bench. That is how it has come up before us for hearing and disposal.2. The facts were briefly these: One Nachiappa Chettiar was the first mortgagee in respect of the suit properties worth some Rs. 35000 from one Ramachandra Iyer, the owner and mortgagor (defendant 1). This Ramachandra Iyer had also executed a second mortgage by deposit of title deeds, operating as equitable mortgage for some Rs. 7000 and odd in favour of Seth Dayaldas Hasanand (defendant 2). The plaintiff, Valliammai Achi, the widow of Nachiappa Chettiar, obtained a preliminary decree in O. S. No. 210 of 1949 on the file of the Subordinate Judge of Madurai against the mor...
Commissioner of Income-tax, Madras Vs. C.S. Sastri
Court: Chennai
Decided on: Dec-02-1958
Reported in: AIR1959Mad250; [1959]35ITR476(Mad)
Balakrishna Ayyar, J.1. Under Section 66 (1) of the Income-tax Act, the Income-tax Appellate Tribunal of Bombay has referred the following question for the decision of this court :'Whether the assessee is entitled to earned income relief on Rs. 31,000/- income from his profession aforesaid, or only on Rs. 16,149/- the net total income aforesaid computed in the manner laid down in the Income-tax Act?'2. The relevant facts are thess : The assessee is a chartered accountant. During the accounting year which ended on 31-12-1950 the assessee earned Rs. 31,006/- from the practice of his profession, he received also a further income of Rs. 741 from other sources, making a total of Rs. 31,747/-. He incurred a loss of Rs. 15,598 in respect of the properties that he owned. The result was that his total net income for the year was only Rs. 16,149.The assessee claimed that he was entitled to earned income relief under Section 15-A of the Income-tax Act in respect of Rs. 31,006, which was the incom...
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