Kerala Court July 1973 Judgments
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Eyyakku Vs. Unnalachan
Court: Kerala
Decided on: Jul-09-1973
Reported in: AIR1974Ker139
ORDERK. Sadasivan, J. 1. Decree-holder is the revision petitioner. He filed E. P. for execution of the decree obtained by him against the respondent. On 5-11-1970. the agreement was entered into by the decree-holder and the judgment-debtor by which a lump sum of Rs. 100/- was paid by the judgment-debtor and in consideration of that, the decree-holder agreed to receive Rs. 350/- in full satisfaction of the decree. A period of three months was also allowed for paying the balance; but the balance was not so paid. The decree-holder thereupon started execution of the decree for the whole amount. The judgment-debtor claimed benefits under Act 11 of 1970 saying that he is an agriculturist entitled to protection thereunder. This plea of the judgment-debtor has been upheld by the Court below and so the decree-holder has come up in revision.2. The question for consideration is whether the agreement dated 5-11-1970 could be construed as waiver on the part of the judgment-debtor of his benefits un...
Emeete and Sons (Travancore) P. Ltd. Vs. Commissioner of Income-tax
Court: Kerala
Decided on: Jul-05-1973
Reported in: [1981]129ITR163(Ker)
Subramonian Pott, J. 1. This is a reference to us on an applicationmade by the assessee under Section 256(1) of they I.T. Act, 1961 (hereinaftercalled ' the Act '), by the Income-tax Appellate Tribunal, Cochin Bench.The question referred is : 'Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding that the assesse-company is eligible for deduction only of Rs. 15,885, that being 60 per cent. of the net dividend of Rs. 26,475 under Section 80M of the Income-tax Act, 1961, and not to a deduction of 60 per cent. of Rs. 65,507 under the aforesaid section ' 2. The assessee is a private limited Company. During the accountingyear relevant to the assessment year 1999-70, the assessee-company receivedRs. 65,507 by way of dividends on the pharos held by it mother companies.While making the assessment for 1969-70, the ITO allowed a deduction ofRs. 35,532 under Section 57 of the Act aid Rs. 500 under s. SOL of the sameAct. The balance amount assessable was fixe...
Commissioner of Income-tax Vs. K. Ahamed
Court: Kerala
Decided on: Jul-02-1973
Reported in: [1974]95ITR599(Ker)
Govindan Nair, Actg. C.J. 6. This tax referred case has come up before the Full Bench on an order of reference by a Division Bench dated 28th November, 1972. The reference was made because of the conflict between the decisions in I.T.R. No. 38 of 1970 and I.T.R. No. 71 of 1968.7. The question is:' Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is correct in law in holding that the Explanation to Section 271(1)(c) of the Income-tax Act, 1961, is not applicable to this case ?'8. By the amendments introduced by the Finance Act, 1964, the word 'deliberately' has been omitted from Clause (c) of Sub-section (1) of Section 271 and an Explanation was added which is in these terms:' Where the total income returned by any person is less than eighty per cent. of the total income (hereinafter in this Explanation referred to as the correct income) as assessed under Section 143 or Section 144 or Section 147 (reduced by the expenditure incurred bona fide by him for...
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