Mumbai Court September 1946 Judgments
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In Re: Vallabhdas Karsondas Natha
Court: Mumbai
Decided on: Sep-05-1946
Reported in: AIR1947Bom382; (1947)49BOMLR189
Leonard Stone, Kt., C.J.1. This reference under Section 66(1) of the Indian Income-tax Act raises a short point, though one which has shown a tendency to become obscure by the historical background and by the more prominent features concerning questions of fact, of recent times. The question which has been referred to us is in these terms:-Whether in the circumstances of the case the sum of Rs. 23,515 received by the assessee as surplus income of the trust property of the Keshavji Jadhavji Trust, or any part of that sum, is exempt from taxation under Section 4(3) (i) of the Indian Income-tax Act ?2. Before turning to the somewhat involved circumstances of the case, it is essential to consider and bear in mind the terms of Sub-section 4(5) (1) of the Act. It is that sub-section which exempts from the incidents of taxation certain types of income, described under twelve heads. The opening words are:Any income, profits or gains falling within the following classes shall not be included in...
Vallabhdas Karsondas Natha Vs. Commissioner of Income-tax, Bombay.
Court: Mumbai
Decided on: Sep-05-1946
Reported in: [1947]15ITR32(Bom)
STONE, C.J. - This reference under Section 66 (1) of the Indian Income-tax Act raises a short point, though one which has shown a tendency to become obscured by the historical background and by the more prominent features concerning questions of fact, of recent times. The question which has been referred to us is in these terms :-Whether in the circumstances of the case the of Rs. 23,515 received by the assessee as surplus income of the trust property of Keshavji Jadhavji Trust, or any part of that sum, is exempt from taxation under Section 4 (3) (i) of the Indian Income-tax Act ?Before turning to the somewhat involved circumstances of the case, it is essential to consider and bear in mind the terms of sub-section 4 (3) (i) of the Act. It is that sub-section which exempts from the incidents of taxation certain types of income, described under 12 heads. The opening words are : 'any income, profits or gains falling within the following classes shall not be included in the total income of...
In Re: the Century Spinning and Manufacturing Company, Limited
Court: Mumbai
Decided on: Sep-02-1946
Reported in: AIR1947Bom445; (1947)49BOMLR52
Leonard Stone, Kt., C.J.1. This is a reference under Section 66(1) of the Indian Income-tax Act, and the problem which we have to consider arises for the assessment year 1943-44 in respect of the account year of the assessee. company, which is the calendar year 1942. The questions referred to us concern an expenditure of Rs. 16,707 in fees consequential upon the assessee company, who carry on the business of textile mills, making an application for registration of their trade marks which bad been continuously in use since before February 25, 1937. The questions submitted to us by the Tribunal are these:(1) Whether in the circumstances of the case the expense of Rs. 16,707 incurred by the assessee company in the material year of account in respect of application fees for the initial registration of its 'old' trade marks, i.e., trade marks which had been continuously in use since before February 25, 1937, was rightly held to be expenditure attributable to revenue ?(2) If it was revenue e...
Commissioner of Income-tax, Bombay City Vs. Century Spinning Weaving a ...
Court: Mumbai
Decided on: Sep-02-1946
Reported in: [1947]15ITR105(Bom)
STONE, C.J. - This is a reference under Section 66 (1) of the Income-tax Act, and the problem which we have to consider arises for the assessment year 1943-44 in respect of the account year of the assessee company, which is the calendar year 1942. The questions referred to us concern an expenditure of Rs. 16,707 in fees consequential upon the assessee company, who carry on the business of textile mills, making an application for registration of their trade marks which had been continuously in use since before the 25th of February, 1937. The questions submitted to us by the Tribunal are these : (1) Whether in the circumstances of the case the expense of Rs. 16,707 incurred by the assessee company in the material year of account in respect of application fees for the initial registration of its 'old' trade marks, i.e., trade marks which had been continuously in use since before the 25th day of February, 1937, was rightly held to be expenditure attributable to revenue (2) If it was revenu...
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