Chennai Court December 1969 Judgments
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Shri Alladi Kuppuswamy Vs. the Controller of Estate Duty, Madras
Court: Chennai
Decided on: Dec-05-1969
Reported in: AIR1970Mad366
1. This is a reference under Section 64(1) of the Estate Duty Act, 1953. Sri Alladi Krishnaswami Iyer, who died before the Estate Duty Act came into force, had, during his lifetime, settled certain properties absolutely on his wife Srimathi Alladi Venkalakshmamma, and had also declared certain other properties as joint family properties. The lady having died on January 5, 1956, the principal value of her estate passing on her death was determined by the Revenue at Rs. 7,25,527/-This sum included Rs. 2,02,271/- as the value of her l/4th share in the properties belonging to the Hindu family consisting of herself and her three sons. The Central Board of Revenue, agreeing with the Estate Duty Officer upheld the inclusion as warranted by Section 7(1) and dismissed the appeal from the assessment order. The Board held the view that the Hindu widow's estate created by Section 3(2) of the Hindu Women's Rights to Property Act, 1937 was an interest in property which ceased on the death of the wid...
R.M. Chidambaram Pillai and anr. Vs. Commissioner of Income-tax, Madra ...
Court: Chennai
Decided on: Dec-05-1969
Reported in: AIR1970Mad497; [1970]77ITR494(Mad)
1. These are two consolidated references relating to the assessment years 1959-60 to 1961-62 in one case and to the last two years in the other. When they came up before a Division Bench to which one of us was a party, it was felt that Mathew Abraham v. Commr. of Income-tax, (1964) 51 ITR 467 (Mad) required reconsideration and they have been placed before us. The common question for decision in the references under Section 63(1) of the Indian Income-tax Act 1922, is:"Whether the sums of Rs. 10045 In each of the two years received by Thangavelu of Rs. 7200, Rs. 10578 and Rs. 10578 received by Chidambaram in the three years from the two firms have been rightly brought to tax as (income-Ed.) from other sources. under the provisions of the Income-tax Act, 1922?"The assessees were partners in two firms -- Kavukal Estates and Tuttapallam estates, which owned tea estates in the Nilgiris. In addition to their right to share the profits of the firms, the partners were, under the terms of the de...
Vr. C. Rm. Adaikkappa Chettiar Vs. Commissioner of Income-tax
Court: Chennai
Decided on: Dec-05-1969
Reported in: [1970]78ITR285(Mad)
Ramanujam, J.1. The assessee in this case derived income from his own business as a film distributor and also remuneration for service rendered to one S. Meyyappan under an agreement of service dated June 2, 1957. Under the said agreement of service the assessee was entitled to get a fixed salary of Rs. 1,000 per month plus 1/4th share of the profit earned by the said Meyyappan as a partner from partnership business of S.K. Pictures. For the assessment year 1959-60, the assessee got Rs. 25,233 towards his l/4th share in the profits earned by Meyyappan, besides a sum of Rs. 12,000 as salary, under the terms of the said service agreement. The assessee had sustained a loss of Rs. 48,735 in his own business of film distribution in 1953-54 which was being carried forward from year to year. In the assessment order dated March 31, 1962, for the year 1959-60 the Income-tax Officer set off this loss of Rs. 48,735 against the total income of Rs. 28,051 which included a sum of Rs. 25,233 being th...
P.A.P. Chidambara Nadar Vs. Commissioner of Income-tax
Court: Chennai
Decided on: Dec-05-1969
Reported in: [1970]77ITR84(Mad)
Ramanujam, J. 1. At the instance of the assessse the Income-tax Appellate Tribunal has referred to this court the following question as arising out of its order in I.T.A. No. 8231 of 1963-64 dated June 24, 1965 :'' Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the interest paid on the additional amounts contributed by the minors is properly includible in the income of the assessee under Section 16(3),a)(ii) of the Income-tax Act ?'2. The assessee is a partner in a registered firm of Messrs. P.A.P. Chidambara Nadar, Virudhunagar in which the assessee's two minor sons had been admitted to the benefits of the partnership. Clause 5 of the terms and conditions of the partnership deed is as follows :'The capital of the partnership shall be Rs. 25,000 each. Any amount paid by the partners for the business in excess of the capital, as well as the capital, will bear interest at 12% per annum subject to modification in the rat...
Alladi Kuppuswami Vs. Controller of Estate Duty
Court: Chennai
Decided on: Dec-05-1969
Reported in: [1970]76ITR500(Mad)
Veeraswami, C.J. 1. This is a reference under Section 64(1) of the Estate Duty Act, 1953. Sri Alladi Krishnaswami Iyer, who died before the Estate Duty Act came into force, had, during his lifetime, settled certain properties absolutely on his wife, Srimathi Alladi Venkalakshmamma, and had also declared certain other properties as joint family properties. The lady having died on January 5, 1956, the principal value of her estate passing on her death was determined by the revenue at Rs. 7,25,527. This sum included Rs. 2,02,271 as the value of her 1/4th share in the properties belonging to the Hindu family consisting of herself, and her three sons. The Central Board of Revenue, agreeing with the Estate Duty Officer, upheld the inclusion as warranted by Section 7(1) and dismissed the appeal from the assessment order. The Board held the view that the Hindu widow's estate created by Section 3(2) of the Hindu Women's Rights to Property Act, 1937, was an interest in property which ceased on t...
Sree Meenakshi Mills Ltd. Vs. the State of Madras
Court: Chennai
Decided on: Dec-05-1969
Reported in: [1970]26STC217(Mad)
Ramaprasada Rao, J.1. Sree Meenakshi Mills Limited, a company incorporated under the Indian Companies Act, has branches of its own at Paravai and Usilampatti, within the State of Tamil Nadu. It deals in cotton, yarn, etc. Apart from the goods manufactured by it, it purchases annually various sundry articles, such as building material, electrical goods and other items. In fact, such miscellaneous items or articles purchased by it form part of its capital assets. It is said that the mills regularly, continuously and frequently supplied such items at cost price, either from its head office or from its branches, to other incorporated companies in which the mills were interested, as also to third parties. It is common ground that all the transactions involved in the disputed turnover of Rs. 1,19,257.75 were inter-State in character. This turnover was noticed by the assessing authdrity, when the mills' exigibility to Central sales tax was being examined for the assessment year 1960-61. In fa...
Alladi Kuppuswamy Vs. Controller of Estate Duty
Court: Chennai
Decided on: Dec-05-1969
Reported in: (1970)2MLJ140
ORDERK. Veeraswami, C.J. 1. This is a reference under Section 64 (1) of the Estate Duty Act, 1953. Sri Alladi Krishnaswami Iyer, who died before the Estate Duty Act came into force, had, during his lifetime, settled certain properties absolutely on his wife Srimathi Alladi Venkalakshmamma, and had also declared certain other properties as joint family properties. The lady having died on 5th January, 1956, the principal value of her estate passing on her death was determined by the Revenue at Rs. 7,25,527. This sum included Rs. 2,02,271 as the value of her 1/4th share in the properties belonging to the Hindu family consisting of herself, and her three sons. The Central Board of Revenue, agreeing with the Estate Duty Officer upheld the inclusion as warranted by Section 7 (1) and dismissed the appeal from the assessment order. The Board held the view that the Hindu widow's estate created by Section 3 (2) of the Hindu Women's Rights to Property Act, 1937 was an interest in property which c...
Sree Meenakshi Mills Ltd. Vs. the State of Madras, Represented by the ...
Court: Chennai
Decided on: Dec-05-1969
Reported in: (1970)2MLJ609
T. Ramaprasada Rao, J.1. Sree Meenakshi Mills Limited, a company incorporated under the Indian Companies Act, has branches of its own at Paravai and Usilampatti, within the State of Tamil Nadu. It deals in cotton, yarn, etc. Apart from the goods manufactured by it, it purchases, annually various sundry articles, such as building material, electrical goods and other items. In fact, such miscellaneous items or articles purchased by it form part of its capital assets. It is said that The Mills regularly, continuously and frequently supplied such items at cost price, either from its Head Office or from its branches, to other incorporated companies in which the mills were interested, as also to third parties. It is common ground that all the transactions involved in the disputed turnover of Rs. 1,19,257. 35 were inter-State in character. This turnover was noticed by the assessing authority, when the mills' eligibility to Central Sales Tax was being examined for the assessment year 1960-61. ...
The Coimbatore Cotton Mills Ltd., by Managing Agents R. Beema Naidu an ...
Court: Chennai
Decided on: Dec-04-1969
Reported in: (1970)2MLJ405
ORDERUnder Section 25 of the Madras Public Health Act, 1939 (Madras Act III of 1939), the Government accord sanction to the levy by the Upplipalayam Panchayat in Coimbatore, of a water tax at 25 per cent. (Twenty five per cent.) of the house tax levied tax in the area, with effect from 1st April, 1960. (By order of the Governor)(Sd.) Subrahmanyam, Deputy Secretary to Government.After securing the sanction of the Government, the Panchayat merely published a general notice under Exhibit A-4, dated 26th March, 1960 levying the water tax on the abovesaid basis. The plaintiff objected to the enhancement of the property tax and the levy of water tax and his appeal to the Panchayat was dismissed under Exhibit A-7, dated 16th January, 1961, in these terms;The Panchayat in its resolution No. 265, dated 9th December, 1960 has confirmed the tax of Rs. 10,109-70 on the above assessments.The plaintiff issued the notice, Exhibit A-8, dated the 17th February, 1961 questioning the legality of the enha...
S. Parameswari Vs. Kamadhenu Metal Rolling Mills Pvt. Ltd., Tirupur
Court: Chennai
Decided on: Dec-01-1969
Reported in: AIR1971Mad293
ORDER1. This petition is filed under Section 433(e) and (f) of the Companies Act. 1956 to wind up Kamadhenu Metal Rolling Mills Pvt. Ltd., Thirupur, Coimbatore District., The Company was incorporated on 30-5-1962 as a private limited company by shares. The main object of the company is to deal and sell metal wares and products and to establish iron foundry and rolling mills. The petitioner claims to be a shareholder as well as a creditor. According to her, a sum of Rs. 16,840-48 is due to her as per the books of the company. Her case is that the company is commercially insolvent and is unable to pay its debts, that there has been increase in the loss from year to year, that the affairs of the company are being mismanaged and that it is, therefore, just and necessary that the company should be wound up.2. The petitioner is the wife of Subbaraya Chettiar, the Managing Director of the respondent company. The Managing Director has sworn to a counter-affidavit stating that there is misunder...
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