Mumbai Court March 1949 Judgments
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Digambarrao Hanmantrao Deshpande Vs. Rangrao Raghunathrao Desai
Court: Mumbai
Decided on: Mar-25-1949
Reported in: AIR1949Bom367; (1949)51BOMLR623
Bhagwati, J.1. This is a first appeal from a decision of the Civil Judge, Senior Division, at Hubli, who dismissed the plaintiff's suit.2. The suit came to be filed by the plaintiff under the following circumstances. The plaintiff's father initiated a suit, being suit No. 438 of 1911, in the First Class Subordinate Judge's Court at Dharwar, by filing a pauper petition No. 5 of 1910 against his brother Laxmipati and others including one Hanmant Krishna Deshpande who was defendant No. 21 in the suit. The suit was a suit for partition claiming a half share in the ancestral properties, the properties included in the suit being Survey Nos. 49, 52, 116, 17 and 20. This suit had a chequered career 'as appears from the judgment delivered by this Court in Digambar Hanmant v. Shrinivas Laxmipatirao (1937) F.A. No. 84 of 1934, decided by 1937 (Unrep.). The plaintiff's father having died in the meanwhile the plaintiff filed and prosecuted the appeal, and it appears that on December 15, 1937, a dec...
Commissioner of Income-tax Vs. S.N. Bhayya
Court: Mumbai
Decided on: Mar-25-1949
Reported in: AIR1950Bom26
Chagla, C.J.1. The assessee Mr. Bhayya was assessed for the assessment year 1914-45 as a Hindu undivided family. He was under an obligation to pay a sum of Rs. 500 per month to his mother as maintenance, and this obligation was crystallized by a decree of the Court which gave to the widow a charge on the joint family properties in respect of this maintenance. Having paid this maintenance pursuant to the decree, the assessee claimed the payment as a permissible allowance under Section 9(1)(iv), Income-tax Act. The Tribunal took the view that this was a permissible deduction, and the Commissioner of Income-tax has come before us on a reference.2. In a very recent decision reported in Prince Khanderao Gaekwar v. Commissioner, I.T. 50 Bom.L.R. 368: A.I.R. 1949 Bom. 17 we laid down that the test to be applied under Section 9(1)(iv) was whether the property was subject to a valid and legal charge which could be enforced in a Court of law under which the assessee was bound to pay a certain am...
Broach Co-operative Bank Ltd. Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Mar-25-1949
Reported in: AIR1950Bom45
Chagla, C.J.1. The assessee is a co-operative bank, and its working capital in the year of account was roughly Rs. 34,00,000 and the average deposits about RS. 29,00,000. This bank had invested in tax-free securities and taxable securities as large an amount as a sum approximately between Rs. 14,00,000 and Rs. 19,00,000. On the deposits that the bank maintained it paid as interest in the year of account a sum of RS. 61,788; and two questions arise for our determination in this reference. One is with regard to the true effect of proviso 1 to Section 8, Income-tax Act to the extent that it is applicable to the facts of this case. Now, Section 8 deals with one of the heads which are chargeable to income-tax and that head is 'interest on securities.' and the section provides that the tax shall be payable by an assessee on interest on securities, in respect of the interest receivable by him on any security of the Central or Provincial Government. The rest of the section is not material. The...
The Broach Co-operative Bank, Ltd. Vs. the Commissioner of Income-tax
Court: Mumbai
Decided on: Mar-25-1949
Reported in: (1949)51BOMLR718
M.C. Chagla, C.J.1. The assessee is a co-operative bank, and its working capital in the year of account was roughly Rs. 34,00,000 and the average deposits about Rs. 29,00,000. This bank had invested in tax-free securities and taxable securities as large an amount as a sum approximately between Rs. 14,00,000 and Rs. 19,00,000. On the deposits that the bank maintained it paid as interest in the year of account a sum of Rs. 61,788; and two questions arise for our determination in this reference. One is with regard to the true effect of the first proviso to Section 8 of the Indian Income-tax Act to the extent that it is applicable to the facts of this case. Now, Section 8 deals with one of the heads which are chargeable to income-tax and that head is 'Interest on securities,' and the section provides that the tax shall be payable by an assessee on interest on securities, in respect of the interest receivable by him on any security of the Central or Provincial Government. The rest of the se...
Phaltan Sugar Works, Ltd. Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Mar-25-1949
Reported in: (1949)51BOMLR725
M.C. Chagla, C.J.1. These five references raise common questions of law. All these references were pending before the High Court of Judicature, Deccan States, Kolhapur, and they have been transferred to us after the State of Phaltan was merged in the Province of Bombay.2. The assessee company was incorporated in the Phaltan State in the year 1933 as a private limited company and it was converted into a public limited company on September 17, 1942. During the accounting year ending on September 30, 1938, this company made a profit of Rs. 3,94,653, but it did not distribute any part of these profits by way of dividends to its shareholders who were three in number. Thereupon the Income-tax Officer took action under Section 23A (1) of the Act and ordered that all the assessable profits of the company should be deemed to have been distributed amongst the shareholders of the company. After the company was converted into a public company on September 17, 1942, an order was issued by the Incom...
The Commissioner of Income-tax Vs. S.N. Bhayya
Court: Mumbai
Decided on: Mar-25-1949
Reported in: (1949)51BOMLR722
M.C. Chagla, C.J.1. The assessee Mr. Bhayya was assessed for the assessment year 1944-45 as a Hindu undivided family. He was under an obligation to pay a sum of Rs. 500 per month to his mother as maintenance, and this obligation was crystallized by a decree of the Court which gave to the widow a charge on the joint family properties in respect of this maintenance. Having paid this maintenance pursuant to the decree, the assessee claimed the payment as a permissible allowance under Section 9(1)(iv) of the Indian Income-tax Act. The Tribunal took the view that this was a permissible deduction, and the Commissioner of Income-tax has come before us on a reference.2. In a very recent decision reported in Prince Khanderao Gaekwar v. Commissioner : AIR1949Bom17 we laid down that the test to be applied under Section 9(1)(iv) was whether the property was subject to a valid and legal charge which could be enforced in a Court of law under which the assessee was bound to pay a certain amount recur...
Phaltan Sugar Works Ltd. Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Mar-25-1949
Reported in: AIR1950Bom61
Chagla, C.J.1. These five references raise common questions of law. All these references were pending before the High Court of Judicature, Deccan States, Kolhapur, and they have been transferred to us after the State of Phaltan was merged in the Province of Bombay.2. The assessee company was incorporated in the Phaltan State in the year 1933 as a private limited company and it was converted into a public limited company on 17th September 1942. During the accounting year ending on 30th September 1938, this company made a profit of Rs. 3,94,653, but it did not distribute any part of these profits by way of dividends to its share-holders who were three in number. Thereupon the Income-tax Officer took action under Section 23(1) of the Act and ordered that all the assessable profits of the company should be deemed to have been distributed amongst the share holders of the company. After the company was converted into a public company on 17th September 1942, an order was issued by the Income-...
The Broach Co-operative Bank Ltd. Vs. Commissioner of Income-tax, Bomb ...
Court: Mumbai
Decided on: Mar-25-1949
Reported in: [1949]17ITR489(Bom)
CHAGLA, C.J. - The assessee is a Co-operative Bank, and its working capital in the year of account was roughly Rs. 34,00,000 and the average deposits about Rs. 29,00,000. This Bank had invested in tax-free securities and taxable securities as large an amount as a sum approximately between Rs. 14,00,000 and Rs. 19,00,000. On the deposits that the Bank maintained it paid as interest in the year of account a sum of Rs. 61,788; and two questions arise for our determination in this reference. One is with regard to the true effect of the first proviso to Section 8 of the Income-tax Act to the extent that it is applicable to the facts of this case. Now section 8 deals with one of the heads which are chargeable to income-tax and that head is 'Interest on securities', and the section provides that the tax shall be payable by an assessee on interest on securities, in respect of the interest receivable by him on any security of the Central of Provincial Government. The rest of the section is not ...
Phaltan Sugar Works Ltd. Vs. Commissioner of Income-tax, Phaltan State ...
Court: Mumbai
Decided on: Mar-25-1949
Reported in: [1949]17ITR499(Bom)
CHAGLA, C.J. - These five references raise common questions of law. All these reference were pending before the High Court of Judicature, Deccan States, Kolhapur, and they have been transferred to us after the state of Phaltan was merged in the Province of Bombay.The assessee company was incorporated in the Phaltan State in the year 1933 as a private limited company and it was converted into a public limited company on the September 17, 1942. During the accounting year ending in September 30, 1938, this company made a profit of Rs. 3,94,653, but it did not distribute any part of these profits by the way of dividends to its shareholders who were three in number. Thereupon the Income-tax Officer took action under Section 23A(1) of the Act and ordered that all the assessable profits of the company should be deemed to have been distributed amongst the shareholders of the company. After the company was converted into a public company on the September 17, 1942, an order was issued by the Inc...
Commissioner of Income-tax, Bombay City Vs. the Finaly Mills Ltd., Bom ...
Court: Mumbai
Decided on: Mar-25-1949
Reported in: [1949]17ITR595(Bom)
CHAGLA, C.J. - The question that we have to consider in this reference is wholly covered by a recent decision of this Court reported in Commissioner of Income-tax, Bombay City v. Century Spinning Weaving and . In that case this Court held that the expenditure incurred for applying for trade mark under the Trade Marks Act was an expenditure attributable to revenue inasmuch as it was recurring and it did not bring into existence an asset or an advantage for the enduring benefit of the trade and also that the expenditure was incurred wholly and exclusively for the purpose of the assessees business.Now in this case the assessees, the Finaly Mills Ltd., also claimed that the expenditure incurred by them with regard to the registration of their trade mark was a revenue expenditure. The department contested this on the ground that the case of the assessees was distinguishable from the case which we decided in Commissioner of Income-tax, Bombay City v. Century Spinning Weaving and ., and the d...
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