Chennai Court November 1976 Judgments
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Musasons Private Ltd. Vs. Commissioner of Income-tax, Madras.
Court: Chennai
Decided on: Nov-02-1976
Reported in: [1978]111ITR47(Mad)
ISMAIL J. - The Income-tax Appellate Tribunal, Madras Bench, under section 256(1) of the Income-tax Act, 1961, has referred the following question of law for the opinion of this court :'Whether, on the facts and circumstances of the case, the reassessments made under section 147(b) of the Income-tax Act, 1961, against assessee for the assessment year 1963-64, 1964-65 and 1965-66 are legally valid ?'The assessee is a private limited company deriving income mainly from (a) business in cigarettes; and (b) investment in shares of other companies. While making the original assessment, the Income-tax Officer adopted a sum assessable under the head 'Dividends' at the gross amount of dividend received by the assessee-company. The audit party which went through the file of the assessee-company noticed that a part of the loans borrowed by the assessee-company went towards investment in shares. The audit party accordingly informed the Income-tax Officer that he should have apportioned the interes...
S. A. Ramakrishnan Vs. Commissioner of Income-tax, Madras.
Court: Chennai
Decided on: Nov-02-1976
Reported in: [1978]114ITR253(Mad)
SETHURAMAN J. - Under section 256(1) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal, Madras Bench, has referred the following question for the opinion of this court :'Whether, on the facts and circumstances of the case, the assessment of the sum of Rs. 13,000 as income of the assessee is valid and right in law ?'The assessment relates to late Sri Anantharama Dikshidar, who was an exponent of the epics like the Ramayana and the Mahabharata. Performances were being organised all over India and he gave discourses in such performances. considerable amounts were collected at the time of his discourses, and he was being assessed to income-tax on such receipts from the assessment year 1957-58 onwards. During the assessment year 1964-65, Sri Anantharama Diskhidar celebrated his Sashtiabdapoorthi. On that occasio, there were cash presents to the extent of Rs. 19,700. The Income-tax Officer estimated a sum of Rs. 6,700 as presents received by Sri Anantharama Dikshidar from his ne...
Commissioner of Income-tax Vs. Craigmore Land and Produce Co. Ltd.
Court: Chennai
Decided on: Nov-01-1976
Reported in: [1977]110ITR730(Mad)
Ismail, J.1. The Income-tax Appellate Tribunal, Madras Bench, under Section 256(1) of the Income-tax Act, 1961, has referred the following questions of law for the opinion of this court :' (1) Whether, on the facts and in the circumstances of the case, the .. Appellate Tribunal was right in law in holding that replanting, building and machinery reserve of Rs. 8,00,000 was a reserve includible in the computation of capital under Rule 1 of the Second Schedule to the Super Profits Tax Act, 1963 ? (2) Whether the Tribunal was also right in law in holding that the interest received by the assessee from the Mercantile Bank Ltd., a nonresident company, should be excluded from the chargeable profits under Clause (x) of Rule 1 of the First Schedule to the Super Profits Tax Act, 1963, on the ground that the bank was an ' Indian concern ' ' 2. The matter relates to a non-resident company incorporated in England.It is engaged in the business of manufacture of tea and owns tea estatesin India. The ...
Additional Commissioner of Income-tax Vs. Gordon Woodroffe and Co. (Ma ...
Court: Chennai
Decided on: Nov-01-1976
Reported in: [1977]110ITR880(Mad)
Ismail, J.1. The Income-tax Appellate Tribunal, Madras Bench, under Section 256(1) of the Income-tax Act, 1961, has referred the following question of law for the opinion of this court:'Whether the profits earned by the assessee in the export of hides and skins for the assessment years 1963-64 to 1966-67 are export profits entitled for the rebate under the relevant provisions of the Finance Act '2. As the question itself implies, the reference relates to the assessmentyears 1963-64 to 1966-67 and the question raised is a common one. The assessee is a reputed exporter of tanned hides and skins for nearly 100 years.As far as the present reference is concerned the question involved relates tocertain amounts earned by the assessee differently called as ' selling commission ' or ' discount ' in respect of the transactions carried out in thefollowing manner as found by the Tribunal. .To represent the assessee inforeign markets, the assessee enters into agency agreements with foreignfirms by ...
K. M. Sankaralinga thevar Vs. Thirumalammal and ors.
Court: Chennai
Decided on: Nov-01-1976
Reported in: (1977)1MLJ189
Kailasam, C.J.1. This appeal is preferred by one Sankaralinga Thevar against the judgment of Ismail, J., in W.P. No. 2075 of 1974 dismissing his petition for the issue of a writ of certiorari to quash the order of the District Revenue Officer dated 20th April, 1974 confirming that of the Revenue Divisional Officer, dated 7th December, 1973.2. The appellant applied to the Specia Tahsildar (Tenancy Records) and Records Officer for his name to be included as a tenant in respect of the lands in question. The Records Officer allowed the petition ex parte as the civil Court had declared the appellant as tenant of the lands on due enquiry and under the documents. In the result, the appellant Sankaralinga Thevar was included as a tenant of the lands of the counter petitioners (respondents 1 to 3 herein). The counter petitioners (landlords) fled an appeal before the Revenue Divisional Officer, namely, the Appellate Authority. The Appellate Authority held that the decision of the Records Officer...
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