Chennai Court March 1982 Judgments
Indian Bank Vs. V.A. Balasubramania Gurukkal and ors.
Court: Chennai
Decided on: Mar-31-1982
Reported in: [1984]56CompCas41(Mad)
Ratnam, J.1. This civil revision petition has come before us on a reference made by Sethuraman J. The petitioner is a nationalised bank carrying on the business of banking, subject to the provisions of the Banking Regulation Act, 1949, and the control of the RBI. On October 12, 1971, the petitioner advanced to respondents nos. 1 to 3 herein a sum of rs. 1,850 as agricultural medium term loan, which respondents Nos. 1 to 3 agreed to repay with interest at 4 1/2 per cent. per annum over the official rate of the RBI with a minimum interest of 10 1/2 per cent. per annum with quarterly rests. A promissory note, exhibit A-1, dated October 12, 1971, was also executed by respondents Nos. 1 to 3 along with the fourth respondent as a co-obligant. On October 1, 1974, the respondents wrote under exhibit A-3 to the petitioner acknowledging their liability to repay the amounts as agreed, but nevertheless, no amounts were paid. Thereafter, a notice, exhibit A-4, was issued by the petitioner on May 20...
Tag this Judgment!K.K. Mohammed Ebraheem Sahib and Sons Vs. the State of Tamil Nadu
Court: Chennai
Decided on: Mar-31-1982
Reported in: [1983]52STC309(Mad)
Padmanabhan, J. 1. The question that arises for consideration in this tax case is : 'Whether the assessee M/s. K. K. Mohammed Ebraheem Saheb and Sons are liable to pay sales tax on the freight charges incurred by the assessee in transporting goods from Erode to Madras ?' 2. The assessee is a dealer in hides and skins. For the year 1970-71, they sold fleshings to M/s. Shaw Wallace and Company Limited, Madras. During that year, he claimed a deduction, among other things, a sum of Rs. 98,816.18 being the expenses incurred by them towards freight and loading charges for transporting the goods from Erode to Madras. The Commercial Tax Officer took the view that the freight and loading charges incurred by the assessee were only pre-sale expenses and therefore could not be deducted from the total taxable turnover. On appeal by the assessee, the Appellate Assistant Commissioner, Pollachi, allowed the appeal and held that it was a permissible deduction. Thereafter, the matter was taken before th...
Tag this Judgment!Parrys Confectionary Ltd. Vs. the State of Tamil Nadu
Court: Chennai
Decided on: Mar-31-1982
Reported in: [1983]52STC168(Mad)
Padmanabhan, J.1. M/s. Parrys Confectionary Limited, who are dealers under the Tamil Nadu General Sales Tax Act (called the Act) are the petitioners in these tax revision cases. The assessment years with which we are concerned are 1968-69 to 1973-74. The short question that arises for consideration is whether the sales effected by M/s. Parrys Confectionary Limited (called the assessee) in favour of the Canteen Stores Department (India), Bombay, are inter-State sales under section 3(a) of the Central Sales Tax Act and whether the assessee is entitled to exemption under section 8(2A) of the Central Sales Tax. 2. The Canteen Stores Department (India), Bombay, placed orders with the assessee for the supply of confectionery goods. Pursuant to the order the assessee despatched goods from the State of Tamil Nadu to Bombay. For the assessment years in question the assessee claimed exemption from levy of tax under the Central Sales Tax Act. While it is the case of the department that the sale o...
Tag this Judgment!Indian Bank, Tiruvannamalai Vs. V.A. Balasubramania Gurukal
Court: Chennai
Decided on: Mar-31-1982
Reported in: AIR1982Mad296; (1982)2MLJ238
Ratnam, J.1. This civil revision petition has come before us on a reference made by Sethuraman, J. The petitioner is a nationalised bank carrying on the business of banking subject to the provisions of the Banking Regulation Act, 1949, and the control of the Reserve Bank of India. On 1240-1971, the petitioner advanced to respondents 1 to 3 herein a sum of Rs.1850 as agricultural medium term loan, which respondents I to 3 agreed to repay with interest at 4-1/2 per cent per annum, over the official rate of the Reserve Bank of India with a minimum interest of 10-1/2 per cent per annum with quarterly rests. A promissory note Ex. A. 1, dated 12-10--! 1971 was also executed by respondents I to 3 along with the fourth respondent as a co-obligant. On 1-10-1974, the respondents wrote under Ex. A. 3 to the petitioner acknowledging their liability to repay the amounts as agreed, but never the less, no amounts were paid. Thereafter, a notice Ex. A. 4 was issued by the petitioner on 20-5-1975, whic...
Tag this Judgment!Commissioner of Income-tax, Tamil Nadu Vs. Standard Motor Products of ...
Court: Chennai
Decided on: Mar-30-1982
Reported in: (1983)35CTR(Mad)107; [1983]142ITR877(Mad)
Balasubrahmanyan, J. 1. The Standard Motor Products of India Ltd., Madras, which is a public limited company engaged in the manufacture of automobiles, is the assessee. The assessee has its factory at Vandalur. In the factory premises the assessee has certain buildings used for office purposes called the administrative block. Besides, the assessee has a canteen, a fire service station, pump house, overhead tanks and wells, overhead lines and street lights, new stores, co-operative stores building and industrial housing colony. The assessee has in its factory two types of machinery categorised as general purpose machinery and precision machinery. Originally, the assessments for the assessment years 1961-62 to 1963-64 were completed. In the said assessment proceedings, the ITO allowed depreciation allowance in respect of the administrative buildings at 5%. As regards precision machinery, the ITO allowed depreciation allowance at the rate of 12% and the general purpose machinery at the ra...
Tag this Judgment!R. Sivasathyamurthy Vs. P.R. Gokulakrishnan, O.C.J.
Court: Chennai
Decided on: Mar-30-1982
Reported in: (1983)IILLJ118Mad
1. This writ appeal is against the order in W.P. No. 4622 of 1976. The Divisional Manager, Life Insurance Corporation of India, Madurai, the Zonal Manager, Life Insurance Corporation of India, Madras and the Chairman, Life Insurance Corporation of India, Bombay have filed the writ appeal. The respondent by name R. Sivasathyamurthi, residing at Vikramasingapuram, Ambasamudram Taluk, Tirunelveli District was the petitioner in W.P. No. 4622 of 1976. He prayed for a writ of certiorari calling for the records of the first appellant in the order dated 28th July, 1975, which was confirmed by the second and third appellants on 5th March, 1975 and 4th October, 1976, respectively and for quashing the same.2. The short facts are as follows. The respondent herein was the Insurance agent in the year 1976. In 1974, he procured two proposals for insurance, each for a sum of Rs. 25,000, in respect of two individuals, M. Gopalakrishna and M. Subramanian. The respondent has stated that the lives assured...
Tag this Judgment!Second Income-tax Officer Vs. Grahalakshmi and Co.
Court: Chennai
Decided on: Mar-29-1982
Reported in: [1982]2ITD420(Mad)
ORDERPer Shri T. N. C. Rangarajan, Judicial Member - This appeal by the revenue is directed against an order of the AAc deleting an addition made under Section 69D of the Income-tax Act, 1961 (the Act).2. The assessee is a registered firm. While going through the accounts of the previous year ending 9-11-1977, corresponding to the assessment year 1978-79, the ITO noticed that the assessee had taken loans on hundi and had also repaid loans taken on hundies and such borrowals and repayments had not been made through account-payee cheque or bank drafts. He, therefore, added back the amounts so borrowed or repaid along with the interest amounting to Rs. 41,650 under Section 69D. On appeal, the AAC found that the hundies had been written in English and following an order of the Tribunal dated 24-10-1980 in the case of Paranjothi Salt Co. in IT Appeal No. 1162 (Mad) of 1979, he held that the documents written in English cannot be considered to be hundies and, therefore, the provisions of Sec...
Tag this Judgment!Commissioner of Income-tax, Tamil Nadu-iv Vs. Sankara Allom (P.) Ltd.
Court: Chennai
Decided on: Mar-28-1982
Reported in: [1984]146ITR129(Mad)
Ramanujam, J.1. The following three question of law have been referred to this court for its opinion at the instance of the Revenuea u/s. 256(1) of the I.T. Act. 1961 : '(1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that depreciation at 100% should be allowed in respect of certain expenditure which are allowable as repairs and renewals in the respective assessment years in the past but capitalised by the assessee for the purpose of allowance of depreciation (2) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the written down value for an asset for which no rate of depreciation has been prescribed prior to the assessment year 1970-71 and for which 100% depreciation is allowable from the assessment year 1970-71 onwards is the actual cost of the asset after deduction of the depreciation actually allowed (3) Whether, on the facts and in the cirumstances of the case, the Appe...
Tag this Judgment!G.K. Devarajulu Naidu Vs. Commissioner of Income-tax, Madras
Court: Chennai
Decided on: Mar-27-1982
Reported in: [1983]144ITR686(Mad)
Ramanuham, J.1. The following two common quetions of law have been referred to this court by the Income-tax Appellate Tribunal, Madras, under s. 256(2) of the I. T. ACt, 1961, hereinafter referred to as 'the ACt' : '1. Whether, on the facts and in the circumstance of the case, the inspection notes of the Inspecting Assistant Commissioner from the records of assessment and the note of the inspector would constitute information within the meaning of section 147(b) so s to justify the application of section 147? 2. Whether on the fact and in the circumstance of the case, and having regard to the figures given in the order of the Appellate Assistant Commission, the Tribunal was right in not giving a reasonable opportunity to the assessee for making out a case for allowance of a fair estimate of interest?' 2. The reference relates to the assessment year 1961-62 to 1963-64. The assessee is an individual deriving income from salary property, shares from two managing in agency firms and other ...
Tag this Judgment!Controller of Estate Duty, Madras Vs. Smt. N. Kunjammal.
Court: Chennai
Decided on: Mar-27-1982
Reported in: (1983)35CTR(Mad)155; [1983]141ITR1(Mad)
RAMANUJAN J. - The following question of law has been referred to this court by the Income-Tax Appellate Tribunal, Madras, under s. 64 of E.D. Act, 1953 :'Whether, on the fact and in the circumstances of the case, the Tribunal was right in holding that the unproved hundi credits offer for under section 271(4A) of the Income-tax Act, 1961, could not be added to the principal value of the estate of the deceased for estate duty purposes ?'This question arose out of the assessment under the E.D. Act, 1953, relating to the estate of late R. Krishnamurthy who died on November 30, 1968. While determining the principal value of the said estate, the Asst. Controller held that the legal representatives of the deceased had settled the I.T. assessment for the assessment years 1959-60 to 1966-67 by admitting undisclosed income of Rs. 3,60,773 which was spread over these years by an order passes under s. 271(4A) of the I.T. Act, 1961, that the said amount represented the cash credits in the books of...
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