Chennai Court September 1994 Judgments
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Commissioner of Income-tax Vs. Jayalakshmi Trading Co.
Court: Chennai
Decided on: Sep-08-1994
Reported in: (1995)129CTR(Mad)127; [1995]214ITR660(Mad)
Gulab C. Gupta, J. 1. This is a reference at the instance of the Revenue referring the following questions of law for decision of this court : '(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in deleting the additions of Rs. 54,390 and Rs. 39,426 for the assessment years 1972-73 and 1973-74 (2) Whether, on the facts and circumstances of the case, the Appellate Tribunal was justified in allowing the assessee's appeal on the ground of the absence of a specific finding on the part of the Income-tax Officer that the true profits could not be ascertained from the method of accounting adopted by the assessee ?' 2. The assessee carries on business of lending and receiving money. On the money lent, he charges interest but on the money which he borrows, he pays interest. In the month of account which he had been maintaining, he did not show the interest accrued to him on a sum of Rs. 3,02,168 admittedly loaned by him. He has, however, shown the ...
Commissioner of Income-tax Vs. Lucas T.V.S. Ltd.
Court: Chennai
Decided on: Sep-08-1994
Reported in: (1995)128CTR(Mad)210; [1995]214ITR700(Mad)
1. Pursuant to the order dated November 8, 1978, passed by this court in T.C.P. Nos. 160 to 165 of 1978, the Income-tax Appellate Tribunal, Madras, has referred the following three questions of law for our consideration : '1. Whether, on the facts and in the circumstances of the case and having regard to the provisions of clause 5 of the articles of association and the provisions of section 2(18)(b)(B)(ii) of the Income-tax Act, 1961, the Appellate Tribunal was right in holding that the company should be treated as one in which the public are substantially interested 2. Whether the Appellate Tribunal's finding that the shares of the assessee-company are capable of possessing the character of the transferability under sub-clause (n) of clause 5 of the articles of association and, therefore, the shares are freely transferable is sustainable in law and is a reasonable view to take on the facts of the case 3. Whether, on the facts and in the circumstances of the case, the Appellate Tribu...
K. Ramakrishnan Vs. M.M. Rajendran
Court: Chennai
Decided on: Sep-07-1994
Reported in: 1995CriLJ3959
ORDER1. This petition is under Sections 2(c) and 12 of the Contempt of Courts Act, 1971, hereinafter referred to as 'the Act' and to punish the respondent for committing alleged offence of Contempt of Court. 2. The petitioner herein K. Ramakrishnan filed a complaint against respondent herein M. M. Rajendran for the alleged offence under Section 200 of Indian Penal Code before the Court of Judicial Magistrate, Aruppukottai in C.C. No. 92 of 1994. The respondent, M. M. Rajendran was Chief Secretary to Government of Tamil Nadu, during the period February, 1988 to January, 1991. He was also Chairman of SPIC from 20-4-1990 to 19-1-1991. He also served as Chairman of Tamil Nadu Electricity Board and Chairman of Tamil Nadu Planning Commission. At the time of retirement on 20-5-1993, he was Secretary to Government of India, Ministry of Parliamentary Affairs. The learned Magistrate took cognizance of the complaint and issued process to the accused/respondent. The respondent filed petition under...
Commissioner of Wealth Tax Vs. M.V. Annaporni Achi
Court: Chennai
Decided on: Sep-07-1994
Reported in: [1995]214ITR592(Mad)
Thanikkachalam, J.1. At the instance of the Revenue under s. 27(1) of the WT Act, 1957, the Tribunal referred the following common question relating to the asst. yrs. 1973-74 to 1977-78 for our opinion : 'Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the assessee is entitled to the deduction of Rs. 1,50,000 under s. 5(1)(iva) of the WT Act, 1957 ?' 2. M. V. Annapoorani Achi (applicant) is the wife of A. L. N. Muthu Veerappa Chettiar, who expired some years ago. The said Muthu Veerappa Chettiar had two sons. The sons and their mother, the assessee, have inherited a one-third share each in the estate of Muthu Veerappa Chettiar. The estate comprised house properties and agricultural lands. The value of the agricultural lands as per the balance-sheet is Rs. 1,50,952. For the asst. yrs. 1973-74 to 1977-78, it was claimed that the assessee is entitled to the exemption of agricultural lands to the maximum extent under s. 5(1)(iva) of ...
Shantha Rangarajan and Others Vs. Commissioner of Income-tax
Court: Chennai
Decided on: Sep-07-1994
Reported in: (1995)129CTR(Mad)330; [1995]215ITR104(Mad)
Gulab C. Gupta, J. 1. In these tax cases, at the instance of the assessees, the Tribunal referred the following common question for our opinion : 'Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding that for the purpose of computing the capital gain, the cost of acquisition of the asset transferred should be taken as the actual cost paid by the assessee for the asset and not its market value on the date of acquisition of the asset by the assessee by reduction of share capital ' 2. These tax cases relate to various assessment years. The case of the assessee, Sri N. Govindarajan alias N. Ravi (in Tax Case No. 297 of 1981), for the assessment year 1971-72 may be taken as a typical case, which is common for all the assessees. He was a shareholder in Kasturi Estates Pvt. Ltd. The company effected a reduction in its share capital on May 8, 1962, after getting the requisite sanction of the High Court. The High Court, by order dated April 20, 1962, sanc...
Employees' State Insurance Corporation Vs. Enfield India Ltd.
Court: Chennai
Decided on: Sep-07-1994
Reported in: [1995(70)FLR206]; (1999)IIILLJ218Mad
Govardhan, J.1. This Civil Miscellaneous Appeal arises out of the order passed by the E.S.I. Judge (First Additional Judge, City Civil Court), Madras dated February 24, 1984 in E. I. O. P No. 13/1983 filed under Section 75 of the Employees' State Insurance Act (hereinafter called as 'the Act') to set aside the order passed by the Employees' State Insurance Corporation.2. The petitioner's case is briefly as follows : The petitioner's company manufactures 350 cc. Bullet Motor Cycles at Tiruvottiyur which is covered under the Employees' State Insurance Act. The service conditions of the workmen of the petitioner's establishment are governed by long-term settlements reached from time to time. Apart from wages and dearness allowance the Petitioner used to provide free tea, milk and eggs to certain categories of workmen. Since there were, complaints with regard to the supplies made and the petitioner had also experienced difficulties in arranging to supply the above items, it was decided to ...
Commissioner of Income-tax Vs. Sekar Offset Press
Court: Chennai
Decided on: Sep-06-1994
Reported in: [1995]214ITR516(Mad)
Gupta, J. 1. These two references, at the instance of the Revenue, refer the following questions of law of the opinion of this court: Tax Case No. 242 of 1981: 'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the market value of the assets taken over by the assessee-firm, viz., Rs. 5,59,730, should be taken into consideration for the purpose of allowing depreciation as against the written down value taken by the Income-tax Officer in the assessment order passed for the assessment year 1976-77?' Tax Case No. 322 of 1981: 'Whether on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in holding that the market value of the assets, viz., Rs. 5,59,730, should be taken into account to allow depreciation instead of the book value, viz., Rs. 2,79,871, adopted by the Income-tax Officer?' 2. The questions relate to the assessment years 1975-76 and 1976-77 and for that purpose, two references...
Commissioner of Income-tax Vs. R. Vijayakumar
Court: Chennai
Decided on: Sep-06-1994
Reported in: [1995]214ITR483(Mad)
Thanikkachalam, J. 1. At the instance of the Department, the following question was referred to us for our opinion under section 256(1) of the Income-tax Act, 1961: 'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the assessee is entitled to exemption under section 54B even though he is assessed to tax in the status of a Hindu undivided family, and consequently no capital gains could be assessed to tax for the assessment year 1975-76?' 2. The assessee is a Hindu undivided family of which Sri Vijayakumar is the karta. It sold agricultural lands situate in Krishnarayapuram within the Coimbatore municipal limits on August 3, 1974, for Rs. 2,25,000. The sale deed was registered on August 14, 1974. The assessee also purchased agricultural lands situated in Kalikkanaickenpalayam for Rs. 2,35,000 under a sale deed dated July 10, 1975. For the assessment year 1975-76, the assessee filed a return disclosing an income of Rs. 12,375. In...
Commissioner of Income-tax Vs. V. Nellaiappan
Court: Chennai
Decided on: Sep-06-1994
Reported in: [1995]214ITR465(Mad)
Thanikkachalam, J. 1. At the instance of the Department, the following common question of law is referred to us for our opinion relating to the assessment years 1972-73 to 1974-75: 'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the inclusion of the share income of the minor children from the firm Messrs. Rm. K. V. Textiles made under section 64(1)(ii) of the Income-tax Act, 1961, in the assessee's individual assessment is not correct?' 2. These reference applications relate to the assessment years 1972-73 to 1974-75. The assessee is an individual. He was a partner in the firm, Rm. K. V. Textiles, representing the Hindu undivided family, consisting of himself and his wife. In making the assessment, the Income-tax Officer included the share income of the assessee's minor children, Viswanathan, Loganayaki and Seethalakshmi, from the firm for the respective assessment years under section 64(1)(ii) of the Income-tax Act, ...
George Thomas Vs. Tax Recovery Officer Iv
Court: Chennai
Decided on: Sep-06-1994
Reported in: [1995]214ITR168(Mad)
Gulab C. Gupta, J. 1. The petitioner feeling aggrieved by the attachment of the house in his possession and the order dated June 15, 1990, passed by the Tax Recovery Officer in relation thereto requiring the petitioner to prove his ownership of the said house, has preferred this writ petition, challenging the legality and validity of the action of the respondent praying for the relief of issue of a writ of mandamus or any other suitable writ. 2. It appears that the house in question stands recorded in the ownership of the petitioner's wife, who is a defaulter in the payment of tax. The respondent apprehending that the house may be transferred so that the recovery of tax may be avoided, has provisionally attached the said house. A copy of the attachment order having been served on the petitioner, he claimed that the attachment was illegal inasmuch as he was in possession of the house and that he is also the owner thereof. Since this objection needed investigation, the respondent directe...
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