Chennai Court April 1980 Judgments
Browse smarter
Open an 18-section brief on any judgment
Structured AI Brief in seconds on any result - plus Semantic Search when you need meaning, not just keywords.
- AI Brief & Ask
- Semantic AI Search
- Devil's Bench
Credentials emailed - log in to pick up where you left off.
Commissioner of Income-tax, Tamil Nadu-iv Vs. Himmatmal Jawantraj
Court: Chennai
Decided on: Apr-17-1980
Reported in: (1980)19CTR(Mad)256
Ramaswami, J.1. The assessee is an individual deriving income from money-lending business, property, etc. The assessment years in question are 1971-72 and 1972-73 and the corresponding accounting years ended on November 9, 1969, and November 9, 1970. The assessee had debited his capital account with a sum of Rs. 50,000 on November 9, 1969, that is the last date of accounting year relevant to the assessment year 1970-71. When questioned about the nature of this debit entry the assessee stated that he had thrown this amount into the joint family hotchpot and this amount was rotated in the pawnbroking business by the joint family. The ITO held that the debit entry in the capital account of the assessee was not sufficient evidence to prove the fact of throwing into the joint family hotchpot and that there must have been a declaration by the assessee to this effect. In that view, he assessed the income from this source in the hands of the assessee for the assessment years in question. In do...
Commissioner of Income-tax, Tamil Nadu-v Vs. Motor Credit Co. P. Ltd.
Court: Chennai
Decided on: Apr-17-1980
Reported in: [1981]127ITR572(Mad)
Venugopal, J. 1. The assessee is a private limited company carrying on business as financiers for purchasing of motor vehicles on hire-purchase agreement. Under the hire-purchase agreement it advanced money to M/S. P. N. Swamy Naidu and Company and M/s. Prakash Transports. At the beginning of the accounting year relevant to the assessment year 1973-74, a sum of Rs. 5,30,113 was outstanding as against M/s. P. N. Swamy Naidu and Company and a sum of Rs. 34,000 was found outstanding as against M/s. Prakash Transports. The assessee did not account for any interest either in accrual or receipt basis from these two firms on the ground that it was not possible even to recover the capital from these two firms. The ITO did not accept the assessee's contention and included a sum of Rs. 56,163 by way of accrued interest on the amounts outstanding from these two firms. On appeal, the AAC held that though under the mercantile system of accounting accrued interest should be treated as income, in the...
Manjushree Plantation Ltd Vs. Commissioner of Income-tax, Madras
Court: Chennai
Decided on: Apr-17-1980
Reported in: [1981]131ITR307(Mad)
Ramaswami, J.1. At the instance of the assessee, the following question of law has been referred : 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in refusing permission to raise the additional grounds filed before the Appellate Assistanta Commissioner ?'2. The assessee is a public limited company. It is engaged in the manufacture of tea as well as coffee. During the assessment proceedings for the assessment year 1967-68, the ITO doubted the genuineness of certain vouchers for the expenditure incurred. In the course of the enquiry, the director-cum-secretary and the accountant who had filed the income-tax return conceded that some of the items of expenditure debited to the estate account could not be proved by them to the satisfaction of the ITO and that an addition of Rs. 1,20,000 as representing the expenses debited in the accounts but not proved to the satisfaction of the ITO may be made. Accordingly, in the assessment order dated May 15, 1968...
M.S. Manickam Vs. Cheran Transport Corporation
Court: Chennai
Decided on: Apr-17-1980
Reported in: (1981)ILLJ396Mad
ORDER1. The writ petition arises in the following circumstances : The petitioner was employed as a storekeeper, Central Unit Assembly in Cheran Transport, Pollachi. As a result of certain disciplinary proceedings he was reverted to the post of a junior assistant by the order, dated 31st October, 1974. He was directed to join duty from 1st November, 1974. He wanted time till 4th November, 1974. On 5th November, 1974 he applied for leave on medical grounds for one month with a medical certificate from a Government Medical Officer. Thereafter, he produced the certificate from the E.S.I. doctor. The leave was granted upto 30th January, 1975. He was again granted leave on medical ground upto 3rd January, 1975 to 11th March, 1975. On 18th March, 1975 the petitioner again applied for leave from 11th March, 1975. He did not produce any medical certificate. He was continuously absent for more than 8 days without proper leave. The management called for the explanation of the petitioner on 24th M...
Commissioner of Gift-tax, Madras Vs. Rukmani and Co. Ltd.
Court: Chennai
Decided on: Apr-17-1980
Reported in: (1980)18CTR(Mad)68; [1980]125ITR147(Mad)
VENUGOPAL J. - The assessee is a private limited company carrying on money-lending business. All the shares of the assessee-company are held by another private limited company under the name and style of M/s. Padmanabhan P. Ltd. and the shares of this company are held by one Karumuttu Thiagarajan Chettiar and his wife, Radha Thiagarajan. The assessee-company had taken considerable loans from his group companies, the interest ranging from 6 per cent. to 7 per cent. The assessee-company lent those amounts to Karumuttu Thiagarajan Chettiar and his wife charging interest at half per cent. The GTO came to the conclusion that the assessee-company should have charged interest on the loans advanced by it to Karumuttu Thiagarajan Chettiar, his wife and sons at least at the rate of 6 per cent. and not having done so the difference in the interest at the rate of 5 1/2% should be taken as having been gifted to those persons by the assessee-company. The GTO concluded that such gifts amounted to Rs....
Commissioner of Income-tax, Tamil Nadu-ii Vs. Seshasayee Bros. P. Ltd.
Court: Chennai
Decided on: Apr-16-1980
Reported in: (1981)20CTR(Mad)299; [1981]127ITR218(Mad)
V. Ramsawami, J.1. The following question has been referred at the instance of the revenue : 'Whether it has been rightly held the project expenses incurred by the assessee were incidental to the carrying on of the assessee's business of managing agency and were not capital expenditure ?' 2. The assessee is a private limited company and its main business is that of managing agency. The had also been investigating several projects and, wherever feasible, promotion of new industrial under takings. For the assessment ears 1966-67 and 1967-68, the assessee claimed Rs. 9,865 and Rs. 10,785, respectively, as project expenses in respect of a project newsprint paper mill. The ITO disallowed the assessee's claim on the ground that they constituted capital expenditure. However, on appeal, the AAC allowed the claim accepting the contention that the expenditure is of a revenue nature and not a capital expenditure. It ma be mentioned that in respect of the assessment year 1967-68, he allowed on a s...
Dwarkadas Rameshwar Goenka Vs. Commissioner of Income-tax, Madras
Court: Chennai
Decided on: Apr-16-1980
Reported in: (1980)18CTR(Mad)66; [1981]127ITR397(Mad)
V. Ramaswami, J.1. The assessee is a registered firm carrying on business of trading in cotton piece goods. The firm consisted of seven partners. In completing the assessment, the ITO disallowed interest payments to the tune of Rs. 10,164 to Shiv Bhagwan Goenka and Rs. 2,586 to Omprakash Goenka under s. 40(b) of the I.T. Act. The assessee claimed that these payments were made to these persons in their capacity as individuals whereas they were partners in the firm representing their HUF. The ITO held that any payment of interest to the partners has to be disallowed under s. 40(b). This view was confirmed on appeal by the AAC and by the Tribunal on further appeal. At the instance of the assessee, the following question has been referred : 'Whether, on the facts and in the circumstances of the case, the disallowance of interest of a sum of Rs. 12,750 under section 40(b) of the Income-tax Act, 1961, paid by the assessee to M/s. Shiv Bhagwan Goenka and Omprakash Goenka despite the fact that...
The Executive Engineer, P.W.D. North Presidency Division Vs. K. Ramado ...
Court: Chennai
Decided on: Apr-16-1980
Reported in: (1980)2MLJ487
ORDERS. Padmanabhan, J.1. The short question that arises for consideration in this writ petition is whether the Public Works Department, North Presidency Division, is an establishment within the meaning of the Payment of Wages Act, 1936. The petitioner is the Executive Engineer, P.W.D. North, Presidency Division, Madras. Respondents 1 and 2 are employed as a Plumber and a Work Inspector respectively, in the Public Works Department. The petitioner ordered recovery of Rs. 50 in five instalments from the first respondent and Rs. 40 from the second respondent to make good the loss sustained by the department on account of their negligence. Respondents 1 and 2 then filed an application that these amounts, should not be recovered from their salary. The application having been rejected they filed an application before the third respondent which was taken on file as P.W. Case No. 40 of 1974. Before the third respondent it was contended on behalf of the petitioner that the Public Works Departme...
Kuppuraj Vs. K. Arjunan and ors.
Court: Chennai
Decided on: Apr-16-1980
Reported in: (1981)1MLJ222; 1993LW711
M. M. Ismail, C.J.1. This is an appeal, against the Judgment and decree of Sethuraman, J., dated 21st November, 1975, rendered in S. A. No. 136 of 1973. The suit property admittedly belonged to one Muthayya Udayar, who had two sons, by name, Ramaswami and Marudachalam. Ramaswami died long ago and his son Mariappan, the first defendant in the suit, and Marudachalam entered into a partition on 10th May, 1939, under which each of them got a half share in the suit property. The half share of the property allotted to Marudachalam was alleged to have been leased in favour of the first defendant under Exhibit A-2 dated 10th May, 1939, i. e., the same day as the date of the partition. On 9th April, 1969, the first defendant sold, not only his half share in the suit property, but also, the other half share of Marudachalam, for a consideration of Rs. 7,200 in favour of the second defendant. The plaintiff and the third defendant are the sons of Marudachalam. The plaintiff filed the present suit f...
Commissioner of Income-tax, Tamil Nadu-v Vs. Best and Co (Pondicherry) ...
Court: Chennai
Decided on: Apr-15-1980
Reported in: [1981]131ITR361(Mad)
1. The assessee is a private limited company and are the managing agents of M/s. Anglo French Textiles Ltd. The paid up capital of the assessee-company is Rs. 4,00,000 consisting of 8,000 equity shares of Rs. 50 each, held by 500 shareholders. As the managing agents of M/s. Anglo French Textiles Ltd. the assessee had to guarantee loans taken by the managed company from banks and third parties for purposes of its business. It has guaranteed loans of Rs. 25,50,000 of the managed company as on December 31, 1964, Rs. 39,50,000 as on December 31, 1965, and Rs. 59,50,000 as on December 31, 1966. The assessee-company made a profit of Rs. 3,39,239.86 for the accounting year ending December 31, 1964, and Rs. 3,09,429.43 for the accounting year ending December 31, 1965. Out of the profits of the accounting year ending December 31, 1964, a sum of Rs. 2,25,000 was transferred to the general reserve. Similarly, a sum of Rs. 1,80,000 from out of the profits for the year ending December 31, 1965, was...
- ‹ Prev
- 1
- 3
- 4
- 5
- Next ›
- Last »