Chennai Court January 1982 Judgments
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Abdul Gaffar Vs. N.K. Sidique
Court: Chennai
Decided on: Jan-05-1982
Reported in: AIR1983Mad98
ORDER1. The tenant is the revision petitioner. The respondent-landlord filed the petition for eviction on the ground of wilful default in payment of rent and requirement for own occupation. The tenant denied both the grounds contending that the landlord is not the owner of the premises and that the building belongs to the Tamil Nadu State Housing Board. The Rent controller found that the landlord was not the owner and that, in view of the agreement of sale between the parties, the landlord cannot maintain the eviction petition. On appeal by the landlord, the Appellate Authority reversed the findings of the Rent Controller and ordered eviction and hence the revision by the tenant.2. It is common ground that the building in question belongs to the Tamil Nadu State Housing Board and it was allotted to the respondent-landlord in the year 1960. Thereafter, the landlord appears to have entered into an agreement of sale with the tenant's wife, who undertook to pay the instalments due to the H...
Rodier Mill Employees' Co-operative Stores Ltd. Vs. Commissioner of In ...
Court: Chennai
Decided on: Jan-04-1982
Reported in: (1982)29CTR(Mad)74; [1982]135ITR355(Mad)
Balasubrahmanyan, J. 1. The question of law which the Income-tax Appellate Tribunal referred to us in this case is as follow : 'Whether, on the facts and in the circumstances of the case, the income of the assessee-co-operative society was not exempt under section 80P(2)(a)(i) of the Income-tax Act, 1961 ?' 2. The assessee, Rodier Mill Employees' Co-operative Stores Ltd., Pondicherry,. provides for its members consumption goods such as textiles, toilet articles and the like, on credit. the assessee claimed that the entire profits made in the co-operative stores were exempt under s. 80P(2)(a)(i) of the I.T. Act, 1961, on the ground that it was society which provided credit facilities to its members. The ITO disallowed the claim on the ground that merely selling goods on credit to its members will not render the society as one carrying on a business which provided 'credit facilities' to its members. This decision of the ITO was taken in appeal before the AAC. He differed from the ITO, an...
Commissioner of Income-tax Tamil Nadu-i Vs. Smt Sigappi Achi.
Court: Chennai
Decided on: Jan-04-1982
Reported in: (1983)33CTR(Mad)313; [1983]140ITR448(Mad)
BALASUBRAHMANYAN J. - In this case, the assessee claimed relief under s. 80T of the I.T. Act, 1961. This section grants relief to an assessee, other than a company, where the gross total income includes 'any income chargeable under the head Capital gains relating to capital assets other than short-term capital assets'. In the present case, the assessee has two long-term capital assets, to with, equity shares in certain companies and vacant sites. On the sale of shares the assessee incurred a loss of Rs. 96,907. On the sale of house sites, however, the assessee obtained a capital gain of Rs. 48,767. The net result, however, was a loss of Rs. 46,140. Notwithstanding that the result of the computation of the transaction in long-term capital assets during the account year was a loss of Rs. 48,140, the assessee claimed relief under s. 80T on the score that the relief had to be worked out on the capital gains on the sale of the items of immovable properly in the sum of Rs. 48,767. The ITO re...
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