Mumbai Court December 1974 Judgments
Browse smarter
Open an 18-section brief on any judgment
Structured AI Brief in seconds on any result - plus Semantic Search when you need meaning, not just keywords.
- AI Brief & Ask
- Semantic AI Search
- Devil's Bench
Credentials emailed - log in to pick up where you left off.
Shree Sitaram Mills Ltd. Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Dec-02-1974
Reported in: [1976]103ITR220(Bom)
S.K. Desai, J.1. This is a reference at the instance of the assessee, viz., Shree Sitaram Mills Ltd., Bombay. In this reference we are concerned with the assessment year 1957-58, the previous year of which ended on 31st March, 1957. Although registered as a public limited company, it is an admitted position that the assessee is a section 23A-company for the relevant accounting year. The total assessable income for the assessment year 1957-58 was Rs. 6,61,811, and after deducting the taxes payable, a surplus of Rs. 3,08,553 was left over. The assessee-company, however, did not declare any dividends. The concerned Income-tax Officer, therefore, issued a show-cause notice to the assessee as to why an order under section 23A should not be passed against it. The explanation offered by the assessee-company was that it used to advance moneys to Shree Mahalaxmi Woollen Mills Ltd., from time to time on which advance interest had been charged. The aggregate amount due to the assessee-company fro...
Commissioner of Income-tax, Bombay City-i Vs. Tata Iron and Steel Co. ...
Court: Mumbai
Decided on: Dec-02-1974
Reported in: [1977]106ITR363(Bom)
Vimadalal, J. 1. This is a reference made by the Tribunal at the instance of the Commissioner in which the three questions set out in paragraph 8 of the statement of the case have been referred to us. The assessee is a well-known public limited company which is engaged in the business of production and sale of iron and steel. For the assessment year 1958-59, the assessee (accounting year ended March 31, 1958), among other deductions, claimed the following amounts : (1) Rs. 3,28,591 as publicity and advertisement expenses, being the amount spent by it on the publication of a brochure which was brought out at the time of its golden jubilee; (2) Rs. 16,525 and Rs. 1,750, being the legal expenses incurred in effecting certain alterations in the memorandum and articles of association of the company; and (3) Rs. 1,78,277 being the deficit in obsolete machinery on actual verification. 2. Each of the three questions referred to us relates to these items. 3. As far as the first item of Rs. 3,...
Commissioner of Income-tax Vs. Tata Sons Pvt. Ltd.
Court: Mumbai
Decided on: Dec-02-1974
Reported in: [1978]111ITR290(Bom)
Desai, J. 1. A number of questions pertaining to several assessment years have been referred to us by the Income-tax Appellate Tribunal, Bombay Bench 'B'. These questions are to be found in para. 15 of the statement of the case, dated 16th October, 1964, and are as follows :For the assessment years 1956-57 and 1958-59 to 1961-62 : '(a) Whether, on the facts and in the circumstances of the case, was the assessee-company entitled to unilateral relief under Section 49D of the Income-tax Act, 1922, for the assessment years 1956-57, 1958-59, 1959-60, 1960-61 and 196,1-62 in respect of the dividends received by the assessee on the shares of foreign companies held by it ' For the assessment year 1961-62 ; '(b) Whether, on the facts and in the circumstances of the case, was the assessee-company entitled to claim deduction under Section 10(2)(xv) on the sum of Rs. 1,00,000 contributed by it to the Ahmedabad Advance Mills on the occasion of its golden jubilee celebrations ?' For the assessment y...
HayatuddIn Vs. Abdul GaIn and ors.
Court: Mumbai
Decided on: Dec-02-1974
Reported in: AIR1976Bom23; 1975MhLJ345
1. This is a plaintiff's appeal challenging the dismissal of his suit for a declaration and injunction that he was lawfully in possession of house property in suit in pursuance of a gift deed dated 10-6-1952 executed in his favour by one Rashidbi and Amnabi. The suit was decreed by the trial Court but was dismissed by the first appellate Court. One Lamiya had admittedly two wives, Rashidbi and Makboolbi. One Makboolbi also claimed to be Lalmiya's wife. Lalmiya had admittedly two wives, Rashidbi and Mahaboolbi also claimed to be Lalmiya's wife. Lalmiya had a sister Amnabi. He died in 1948 leaving behind the house property in dispute. Amnabi, Rashidbi and Makboolbi admittedly succeeded to the estate of Lalmiya. Amnabi got 12 annas share and the two widows, Rashidbi and Makboolbi, got 2 annas share each. Amnabi our of Hayutuddin on 10-6-1952. The recitals in the said gift deed (Ex.P-4) show that they were gifting their house property valued at Rs. 1,000/- to Hayatuddin. The description of...
- ‹ Prev
- 1
- 2
- Next ›