Chennai Court March 1980 Judgments
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M.K. Kuppuraj Vs. Commissioner of Income-tax, Madras
Court: Chennai
Decided on: Mar-04-1980
Reported in: (1980)19CTR(Mad)266; [1981]127ITR447(Mad)
Venugopal, J.1. The assessee is a partner of the firm, M/s. Krishna Chetty. During the period from September 6, 1965, to March 24, 1969, the assessee deposited Rs. 1,16,180 by way of annuity deposited and up to August 12, 1970, a sum of Rs. 39,544 was paid to him under s. 280D of the I.T. Act, 1961, and the balance repayable was Rs. 76,636. On August 12, 1970, the assessee made a declaration impressing the aforesaid amount of annuity deposit with joint family character. For the assessment years 1971-72 and 1972-1973, the assessee contended before the ITO that the sum of Rs. 14,523 received by him during the two relevant previous years by way of refund of annuity deposit did not belong to him but they belonged to the HUF of which he was the karta, by reason of the declaration made by him on August 12, 1970, and, consequently, the sum of Rs. 14,523 was not assessable in his hands. The ITO came to the conclusion that there was no provision in the I.T. Act enabling the assessee to make a t...
Sri Kailasanathaswami and Nithyakalyani Amman Devasthanam by Its Hered ...
Court: Chennai
Decided on: Mar-04-1980
Reported in: (1981)1MLJ159
G. Maheswaran, J.1. The plaintiffs are the appellants.The plaint averments are : The suit temple Sri Kailasanatha Swami and Nithyakalyani Amman Devasthanam at Ilayathankudi is a temple founded by the Nagarathars belonging to the Uyathankudi sect of Nattukottai Chettiar community. It was managed by the Nagarathars themselves by people nominated by the Karaikar's family and by other sub-divisions of Nagarathar community. A suit was filed in the Sub-Court, Ramanathapuram at Madurai in O.S. No. 34 of 1912 for framing a scheme for management and finally this Court in A.S. No. 72 of 1923 settled a scheme of management under the Hindu Religious Endowments Act. In the year 1964, the Deputy Commissioner of Hindu Religious and Charitable Endowments Department, Madurai, initiated proceedings under Section 64(5) of Tamil Nadu Act XXII of 1959, for the modification of the scheme settled by the High Court and issued' notice to the Nagarathars to show cause why the scheme settled by the High Court ca...
Commissioner of Income-tax Tamil Nadu-v Vs. S. Sivaprakasa Mudaliar
Court: Chennai
Decided on: Mar-03-1980
Reported in: [1983]144ITR285(Mad); (1983)IIMLJ419
Balasubrahmanyan, J. 1. This is case stated by the Income-tax Appellate Tribunal. It at once raises a point of partnership law and a point of Hindu law. 2. The assessee who fingers in this reference is an individual, being assessed as such on his separate income. He is the karta of an HUF, the other members being his wife, two sons and three daughters. The assessee was a partners in two partnership firms called 'Cuddalore Palayacot Company' and, 'Kasthuri Palayacot Company '. He has a 3/28ths share in one firm, and a 3/17ths share in the other firm., On October 20, 1969, he executed a deed of declaration under which he impressed one-half of his partnership interest with the character of joint family property. He further declared that he would there forward hold one-half of his interest in the two firms only in his capacity as karta of his joint family. He then claimed before the ITO that the shares of profits from the two firms, namely, 3/28ths and 3/17ths must be taken to consist of t...
The Chennimalai Weavers' Co-operative Production and Sale Society Limi ...
Court: Chennai
Decided on: Mar-03-1980
Reported in: (1980)2MLJ339
S. Mohan, J.1. The writ petition is for certiorari to quash the order of the second respondent dated 16th May, 1979.2. The facts are as under--The petitioner is Chennimalai Weavers' Go-operative Production and Sale Society Limited, Chennimalai, Tamil Nadu, represented by its President. The Society was registered, under the then Madras Go-operative Societies Act, 1932 on 7th April, 1941, which started its operation on 14th April, 1941, with 45 members and a paid up share capital of Rs. Rs. 1,771.00. Presently, there are 553 'A' Glass members and 30 'B' Glass members with a paid up share capital of Rs. 5.36 lakhs. There are 578 looms in the society. The society is functioning within the area of Chennimalai village and its suburbs.3. The object of the Society is the improvement of the handloom industry and of the economic conditions of the weavers residing in the area of operation of the society. With a view to achieve this object, the society purchases yarn and other raw materials and ad...
Commissioner of Income-tax, (Central) Madras Vs. K. Sankarapandia Asar ...
Court: Chennai
Decided on: Mar-01-1980
Reported in: (1980)19CTR(Mad)264; [1981]130ITR541(Mad)
V. Ramaswami, J. 1. For the assessment year 1970-71, corresponding to the accounting year ending September 13, 1969, the assessee claimed amortisation in respect of thirteen films. The ITO held that full amortisation was allowable in respect of films which had been released six months before the end of the accounting year and that amortisation at half of the rate only could be allowed in respect of the films which were released during the second half of the accounting year. He also held that no amortisation was allowable in respect of the films which had not been released in the year of account. 2. The assessee was adopting a method of writing off the cost of the rights of the film distribution in the year of acquisition irrespective of the year of release. Accordingly, he claimed deduction in respect of the thirteen films. Aggrieved by the order of the ITO, who had not accepted this contention of the assessee, it preferred an appeal before the AAC. The AAC accepted the contention of t...
Indian Bank Vs. Catholic Syrian Bank Ltd.
Court: Chennai
Decided on: Mar-01-1980
Reported in: AIR1981Mad129
Natarajan, J.1. This appeal has been preferred by the defendant in O.S.No. 517 of 1969, on the file of the Court cd the Subordinate Judge, Salem, while the memorandam, of cress objections has been filed by Lue plaintiff therein.I The suit, out of which this appeal has arisen, was instituted by the respondent for recovery of a sum of Rs. 29,000, wroney paid over to the appellant in discharge of a forged demand draft presented for conversion by it on behalf of an alleged customer of it. 2. The learned Subordinate Judge sustained the case of the respondent but, however, found contributory negligence in the respondent as well and hence he disallowed a sum of Rs. 4,000 and decreed the suit for the balance of Rs25000. The appeal is directed against the decree for Rs. 25,000, while the memorandum of cross objections is directed against the disallowance of a sum of Rs. 4000.3.The respondent's suit came to be filed in the following circumstances: On 6-6-1969 one Shanthilal Manilal Desai (herein...
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