Chennai Court April 1983 Judgments
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Commissioner of Income Tax Vs. Madras Rubber Factory Ltd.
Court: Chennai
Decided on: Apr-04-1983
Reported in: (2009)40CTR(Mad)136
ORDERRamanujam, J. 1. T.C.P. Nos. 433 and 436 of 1982. - After hearing the counsel at some length, we are satisfied that the following three questions of law arise for consideration out of the order of the Tribunal : '1. Whether, the Appellate Tribunal was right in holding that the provisions for gratuity should be allowed as a deduction in computing the total income of the assessee for the asst. yr. 1970-71 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the items processed by the assessee's tread units at Madras and Kottayam are automobile ancillaries within the meaning of Entry 20 of the first Schedule to the IT Act, 1961 and that the assets installed in these units are entitled to development rebate at a higher rate u/s 33(1)(b)(i)(a) of the IT Act, 1961 3. Whether, on the facts and in the circumstances of the case, the appellate Tribunal was right in cancelling the reassessment made u/s 147 for the asst. yr. 1970-71 a...
Ramu Reddy Vs. Kamalanatha Reddy and ors.
Court: Chennai
Decided on: Apr-04-1983
Reported in: (1983)2MLJ288
ORDERK. Shanmukham, J.1. As the questions involved in both the civil revision petitions are the same, a common judgment is rendered.2. The respondents claiming to be cultivating tenants under the petitioner originally instituted O.S. Nos. 724 and 725 of 1974 on the file of the District Munsif's Court, Tiruvallur, for a declaration that they are the cultivating tenants of the suit properties under the petitioner and for consequential reliefs. The said suits were dismissed by the learned District Munsif. Aggrieved against the said decisions, the respondents had preferred A.S. Nos. 25 and 26 of 1979 on the Sub-Court, Tiruvaller. After having presented the appeals, they rushed to the Revenue Court with two applications, C.T.P. Nos. 1 and 2 of 1981, praying for leave for depositing the rents into the Revenue Court. The petitioner came forward with I.A. Nos. 1 and 2 of 1982 respectively in C.T.P. Nos. 1 and 2 of 1981 with a request to the Revenue Court that pending the appeals, A.S. Nos. 25 ...
Commissioner of Income Tax Vs. B. D. Goenka and ors.
Court: Chennai
Decided on: Apr-04-1983
Reported in: (1984)38CTR(Mad)57
ORDER : Ramanujam, J. - The assessee this case has filed a return of income for the asst. yr. 1972-73 disclosing a total income of Rs. 1,12,470. In his return the assessee has disclosed a profit of Rs. 11,587 on sale of shares. He also claimed a loss of Rs. 3,51,550 arising out of the sales of 28,535 shares. The ITO found that the shares which were claimed to have been sold to the assessees father stood in the name of the father even prior to the transactions of sale, that this and other circumstances clearly showed that there was no sale or purchase of shares and that the entire transaction relating to the sale or purchase of shares noted in the assessees books were bogus in nature. In this view, the ITO refused to take the sum of Rs. 11,587 as profits arising from the shares and disallowed the claim for set off of loss claimed as arising from the sale of shares.2. Aggrieved by the order of the ITO the assessee took the matter to the AAC contending that the shares were held as vestmen...
E.i.D. Parry (India) Limited Vs. Far Eastern Marine Transport Co. Ltd. ...
Court: Chennai
Decided on: Apr-02-1983
Reported in: (1988)1MLJ144
ORDERS.A. Kader, J.1. This is a suit for damages of Rs. 1,98,369 with subsequent interest and costs for short-landing of goods. The Plaintiff is a body-corporate incorporated under the Indian Companies Act. The Plaintiff Company entered into a contract with M/s. Patel Holdings Limited Sdn/Bhd Malaysia for the import of Palm Olien Oil. In pursuance of the aforesaid agreement the Foreign Supplier shipped 1574 drums of the said Oil to Madras by the Vessel S.S. 'Sun Duex' belonging to the first defendant, whose local agent at Madras is the second defendant firm. The shipment of the goods was covered by the bills of lading bearing Nos. Pk/M20, dated 30.8.1977 covering 259 drums and Pk/M21, dated 30.8.1977 covering 1315 drums. The goods were insured against all risks including shortage with the third defendant-Insurance Company. The vessel arrived at Madras Harbour on 18.9.1977 and upon discharge of the cargo, it was found that in respect of the first consignment covered by Bill of Lading No...
E.i.D. Parry (India) Ltd. Vs. Far Eastern Marine Transport Co. Ltd. an ...
Court: Chennai
Decided on: Apr-02-1983
Reported in: 2(1988)ACC90
S.A. Kader, J.1. This is a suit for damages of Rs. 1,98,369 with subsequent interest and costs for short-landing of goods. The Plaintiff is a body-corporate incorporated under the Indian Companies Act. The Plaintiff-Company entered into a contract with M/s. Patel Holdings Limited SDN/ BHD Malaysia for the import of Palm Olien Oil. In pursuance of the aforesaid agreement the Foreign Supplier shipped 1574 drums of the said Oil to Madras by the Vessel S.S.'SUN DUEX' belonging to the first defendant, whose local agent at Madras is the second defendant firm. The shipment of the goods was covered by the bills of Lading bearing Nos. PK/M 20 dated 30-8-1977 covering 259 drums and PK./M21 dated 30-8-1977 covering 1315 drums. The goods were insured against all risks including shortage with the third defendant-Insurance Company. The vessel arrived at Madras Harbour on 18-91977 and upon discharge of the cargo, it was found that in respect of the first consignment covered by Bill of Lading No. PK/M...
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