Gujarat Court February 1981 Judgments
Commissioner of Income-tax, Gujarat-iv Vs. Cotton Fabrics Ltd.
Court: Gujarat
Decided on: Feb-11-1981
Reported in: (1981)23CTR(Guj)247; [1981]131ITR99(Guj)
Divan, C.J. 1. In this case, at the instance of the revenue, the following two questions are referred to this High Court for its opinion: (1) Whether, on the facts and in the circumstances of the case, the tribunal was in right in law in holding that the entire amount to interest paid by the assessee on money borrowed on overdraft and employed in the business of dealing in shares has to be deducted in arriving at the profits or loss under the head 'Profits and gains of business' or a part thereof should be apportioned and allowed against the income assessable as dividend under the head 'Other Sources' (2) Whether the relief under section 80M is to be granted on the gross amount of dividend received by the assessee or on the net amount as reduced by the interest attributable thereof ?' 2. The facts leading to this reference are as follows: We are concerned with the assessment year 1969-70. The assessee is apprivate limited company and carries on business as a dealer in shares. In the r...
Tag this Judgment!Gaekwad Investment Corporation Ltd. Vs. Commissioner of Income-tax, Gu ...
Court: Gujarat
Decided on: Feb-06-1981
Reported in: [1982]138ITR61(Guj)
Divan, C.J. 1. In this case, at the instance of the assessee, the following question has been referred to us for our opinion : 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the order of the Commissioner of Income-tax that the relief under section 85A of the Act for the assessment year 1967-68, and under section 80M of the Act for the assessment years 1968-69 and 1969-70, was admissible only on the income from dividend as computed under the provisions of sections 56 and 57 after deducting the appropriate interest on borrowing utilised for investment in shares in respect of which dividend income was earned by the assessee and not on the gross amount of dividend actually received by the assessee ?' 2. The assessment years under consideration are assessment years 1967-68, 1968-69 and 1969-70. The relevant previous years are the financial years ended on 31st March, 1967, 31st March, 1968, and 31st March, 1969, respectively. The assessee...
Tag this Judgment!PravIn C. Soneji Vs. Ranjitsinh Dolasinh Dodia
Court: Gujarat
Decided on: Feb-06-1981
Reported in: AIR1981Guj184; (1981)0GLR1056
ORDER1. The petitioner Shri Pravin C. Soneji challenges the right claimed by Shri Ranjitsinh Dolatsinh Dodia - the respondent in the petition- to be elected and to act as councillor of the Rajkot Municipal Corporation.2. The respondent is elected as a Councillor at the election in question. General elections to the Rajkot Municipal Corporation were held in January, 1981. The nomination forms for the aforesaid elections were to be delivered by December 17, 1980. The scrutiny thereof was held on December 19, 1980. The polling for the election took place on January 25, 1981. It may be stated that the petitioner lost the election by a margin of about 200 votes.3. The grievance of the petitioner before me was, that the respondent was disqualified for being a Councillor. In this behalf, reliance was placed by the petitioner on Section 10 of the Bombay Provincial Municipal Corporations Act, 1949 (hereinafter referred to as 'the Act') which in so far as relevant is set out as under: -' 10. Dis...
Tag this Judgment!Patel Hirabhai Chhaganlal and anr. Vs. Gujarat State Road Transport Co ...
Court: Gujarat
Decided on: Feb-06-1981
Reported in: AIR1981Guj226; (1981)0GLR549
P.D. Desai, J.1 and 2. xxxx xxx 3. Before considering the contentions on merits, the settled legal position may be briefly adverted to. It is well settled that under S. 1A of the Fatal Accidents Act, 1855, which is in substance a reproduction of the English Fatal Accidents Acts (known as the Lord Campbell's Acts), damages are to be based on the reasonable expectation of pecuniary benefit or benefit reducible to money value. The actual extent of the pecuniary loss may depend upon data which cannot be ascertained accurately but must necessarily be an estimate or even partly a conjecture. The pecuniary loss has to be ascertained only by balancing on the one hand the loss to the claimants of the future pecuniary benefits and on the other any pecuniary advantage which from whatever source comes to them by reason of the death, that is, the balance of loss and gain to the dependants by the death must be ascertained (See Gobald Motor Service Ltd. v. Veluswami, AIR 1962 SC 1). It is not a condi...
Tag this Judgment!Kalidas Karsanbhai Chavda Vs. Vadodara Jilla Panchayat Elections
Court: Gujarat
Decided on: Feb-05-1981
Reported in: AIR1981Guj195; (1981)0GLR1050
ORDER1. The Petitioner Kalidas Karsandas Chavda residing at village Anguthan. Taluka Dabhoi, district Vadodara was aggrieved by the order passed by respondent No. 1 the Returning Officer who rejected his nomination paper for the election, to be held of the concerned Panchayat. For the election in question the nomination papers were to be filled in by the contesting candidates by January 5, 1981 and the scrutiny of the nomination papers was to take place on January 6. 1981.2. It is the grievance of the petitioner that his nomination paper was rejected on the ground of omission to mention the name of the scheduled caste to which he belongs. It may be noted at this stage that at the relevant time there were only two contesting candidates and as the nomination paper of the Petitioner was rejected on the ground of omission to mention the name of the scheduled caste respondent No. 2 Shri Nathabhai Mavjibhai Parmar was declared elected as an uncontested candidate.3. It is under these circumst...
Tag this Judgment!Vasudev Trikamlal Bhatt Vs. Ibrahimbhai Nashirbhai Matia and ors.
Court: Gujarat
Decided on: Feb-03-1981
Reported in: AIR1981Guj188; (1981)0GLR1047
ORDER1-2 * * * * 3. Mr. J. S. Bhatt, the learned advocate for the petitioner, firstly urged that the letter of resignation, Annexure D, was not tendered to the competent authority and, therefore, the first part of Section 46 (1) was not complied with and so the resignation letter was no resignation letter at all. Under Section 46 (1), the Sarpanch may resign from his office by tendering his resignation in writing to the competent authority. This means and must mean that the man must deliver either personality or through any agent like Post office, the letter of resignation intending it to reach the addressee. Letters of resignations are to be construed very strictly.4. A case analogous to the one on hand had arisen before the Division Bench of this, court in the Special Civil Application. No. 487 of 1963 decided on 06-09-1963 by the Division Bench consisting of Miabhov and Mehta JJ. as they then were. In that case, the letter of resignation was addressed by the onetime president of the...
Tag this Judgment!Bhimraj Saremal Vs. Controller of Estate Duty, Gujarat
Court: Gujarat
Decided on: Feb-02-1981
Reported in: (1981)24CTR(Guj)216; [1981]132ITR35(Guj)
Mehta, J.1. This reference arises out of estate duty proceedings for the estate of one Shri Saremal Jethamal who expired on May 143, 1965. It was claimed by the accountable person before the Assistant Controller of Estate Duty that only 1/2 share in the said estate belonged to the deceased and, therefore, passed as his property on his death. The Assistant controller, however, was not impressed by this claim and brought to tax the entire estate. The attempt of the accountable person to challenge the said order before the Appellate Controller as well as before the Appellate tribunal failed. At the instance of the accountable person, therefore, the following question is referred to us. 'Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the entire value of the estate was taxable in the estate of the deceased and that the wife of the deceased had no interest in the estate brought to tax. ?' At the time of hearing of this reference, the learne...
Tag this Judgment!G.R. Constructions Vs. Income-tax Officer, Surat-i
Court: Gujarat
Decided on: Feb-02-1981
Reported in: [1982]135ITR586(Guj)
Divan, C.J.1. The petitioner is a registered firm registered both under the provision of the Indian Partnership Act and under the provisions of the I.T. Act, 1961. Since May 1, 1970, the petitioner-firm has been carrying on business of purchase and sale of land, of building contractor and of organising societies for house-building. The respondent herein is the ITO having jurisdiction to assess the petitioner-firm. The year under dispute is assessment year 1977-78, the relevant accounting period being May 1, 1975, to April 30, 1976. The petitioner is being assessed to income-tax from the very first year of inception of its business, that is, from assessment year 1972-73 onwards. For the assessment year 1977-78 the petitioner filed its return of income on April 14, 1978. Along with the return the petitioner filed a computation of income, profit and loss account and the balance-sheet for the year ended April 30, 1976. That assessment was completed. Thereafter, notice under s. 143(2)(b) of...
Tag this Judgment!Lotus Hotel Private Ltd. Vs. Gujarat State Financial Corporation, Ahme ...
Court: Gujarat
Decided on: Feb-02-1981
Reported in: AIR1981Guj212; (1981)GLR982
ORDER1. This is an interesting as well as disturbing petition, interesting because it raises some important questions of law but disturbing because, as I shall show in the course of this judgment, a public corporation like the Gujarat State Financial Corporation the respondent herein, which floats funds for the purpose of assisting entrepreneurs resorts to strange methods in order to avoid its statutory obligations to achieve which such corporations are conceived and are made to be born.2. A few facts require to be noted in details in order to understand various questions raised in this petition. The petitioner is a Private Limited Company registered under the Companies Act, 1956. The primary object of the Company is to carry on the business of a hotel and to do incidental things for that purpose. The petitioner-Company had on hand an ambitious plan to establish a Four-star Hotel on Survey No. 512/2/1 in the city of Baroda. The requisite municipal permission was procured by the Managin...
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