Court : Mumbai
Reported in : [1968]70ITR600(Bom)
..... and the difficulty was only created by an inappropriate language used in so far as the trustee was concerned. in section 11(1) of the u. p. agricultural income-tax act, however, there was no express mention of the trustee in the section itself and the question as to whether the said provision could apply to the case ..... language of section 11(1), which the supreme court was considering, and the language of section 21(1) of the wealth-tax act, which they had to consider. in section 11(1) of the u. p. agricultural income-tax act, which the supreme court was considering, the word 'trustee' has not been mentioned, but a trustee was capable of coming ..... question before the court was whether the trustee was required to be assessed under section 11(1) of the u. p. agricultural income-tax act, 1948. that section reads as follows : 'where any person holds land, from which agricultural income is derived, as a common manager appointed under any law for the time being in force or under any agreement or .....
Tag this Judgment!Court : Mumbai
Reported in : (1968)70BOMLR654
..... of the judgment the learned judge stated:'thus the objections to the tax act and the grants act fail, whether those acts are considered separately or as part of a scheme to bring about the abandonment by the states of the raising of revenue by taxation of incomes.'moreover, the context in which latham c.j. made the ..... was to reduce substantially the purchase price which the petitioner was entitled to get from his tenants under the provisions of section 32h of the bombay tenancy and agricultural lands act, 1948. it follows that the impugned enactments, taken together, did not fall under clause (1) (a) of article 31a of the constitution and cannot ..... the assumption being that if a retrospective amendment reduces the purchase price payable to an ex-landlord under section 32h of the bombay tenancy and agricultural lands act, 1'948, the amending act cannot be looked upon as 'estate legislation' and is not entitled to the protection of article 31a of the constitution. the learned advocate general .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1970Bom232; (1970)72BOMLR369; ILR1970Bom841; 1969MhLJ933
..... reason of the remedy.'in that case, no doubt the supreme court applied these principles of construction to the interpretation of section 34 (1a) of the indian income-tax act after its amendment in 1956; but we can see no reason why the same principle will not operate in the construction of the present statute, especially when ..... prevail especially after the amendment. counsel took us through the previous history of the legislation particularly through the provisions of section 9 of the berar regulation of agricultural leases act, and he pointed out that protected lessees under those provisions enjoyed a special protection and that therefore it in sub-section (7) of section 38 ..... 38(2). it was urged that all that the legislature intended was to continue the special protection afford ed to protected lessees under the berar regulation of agricultural leases act by this special treatment in the case of protected lessees under sub-section (7) of section 38.24. in our opinion, it is not necessary .....
Tag this Judgment!Court : Mumbai
Reported in : [1971]80ITR96(Bom)
..... by the assessee-firm to shri. v. nagayya in the ordinary course of money-lending business.' 3. the income-tax officer accordingly rejected the assessee's claim of a deduction as a bad debt under section 36(2) of the income-tax act, 1961. a copy of the assessment order forms part of the statement of the case as annexure 'c'. ..... of case as above, abhyankar j. continued.] 5. the assessee is a firm doing business, and among other articles, it is alleged that they sell hardware goods, agricultural implements and accessories. the assessee claimed a deduction of rs. 12,000 paid to nagayya for purchase of dismantled goods on the ground that the payment was made for ..... kirloskar bros. ltd., m/s. american spring and pressing works (private) ltd., and m/s. tata fizon ltd., for the vidarbha region, besides selling hardware goods, agricultural implements and accessories. in an earlier year the assessee-firm had advanced a sum of rs. 12,000 to one nagayya, film producer and an artist to madras, under an .....
Tag this Judgment!Court : Mumbai
Reported in : [1971]81ITR258(Bom)
..... to the assessee by his notice dated november 13, 1964. 7. after the proceedings were referred to him under section 274(2) read with section 271(1)(c) of the income-tax act, 1961, the inspecting assistant commissioner once again issued notice dated december 1, 1964, to the assessee. before the inspecting assistant commissioner the assessee raised the following objections to the penalty ..... the sale of the products of m/s. kirloskar bros. ltd., m/s. american spring and pressing works (private) ltd. and m/s. tata fison ltd. besides selling hardware goods, agricultural implements and accessories. on sales of rs. 13,38,774 the accounts books maintained by the assessee-firm disclosed gross profit of rs. 70,072 or 5.2 per cent .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1970Bom144; (1970)72BOMLR246; ILR1970Bom540; 1969MhLJ813
..... which may arise on the death of a person after assessment but before payment.it is after this judgment that a specific provision came to be made in the income-tax act by adding section 24b by which assessment of the year in which an assessee died could be made even after the death of the assessee and the property of ..... which came into force on the 26th day of january 1962 which is also 'the appointed day' referred to in the ceiling act. the main purpose of the: ceiling act, therefore, seems to be to distribute agricultural land amongst the landless and other persons to subserve the common good and for the purpose, to limit the extent of land to ..... 8-1959 and she continued to hold the same till 26-1-1962. parwatabai submitted the return, as required by section 12 of the maharashtra agricultural lands (ceiling on holdings) act, 1961 (hereinafter called the ceiling act) on 26-7-1962. on this return enquiry was started by the deputy collector, akot and during the pendency of this enquiry, the .....
Tag this Judgment!Court : Mumbai
Reported in : [1969]74ITR692(Bom)
..... that the assessee could not think of investing his moneys in the lands. it has to be remembered that the agricultural income was free of tax and for a person like the assessee who had a large income, the income-tax saved would itself come to a seizable amount. all these consideration as well as the important consideration that the being ..... the notification issued by the then government of bombay under section 4 and 6 of the land acquisition act in connection with the proceedings for acquisition of about 500 acres of land for the university of gujarat. the income-tax inspector's report dated 17th june, 1957, which was made after the remand order of the tribunal ..... respective orders. this affidavit appears to have been filed in the proceedings commenced against the assessee for the assessment year 1949-50 under section 34 of the indian income-tax act 1922, in respect of the sale of survey no. 148. it was also produced before this court as an annexure to an affidavit filed in this court .....
Tag this Judgment!Court : Mumbai
Reported in : (1970)72BOMLR747
..... t. commr. v. krishnaswami : [1964]53itr122(sc) , in the context of the provisions of section 18 of the income-tax act, 1922; barium chemicals ltd. v. company law board : [1967]1scr898 , in the context of section 237b of the companies act; and in rohtas industries ltd. v. s.d. agarzval : [1969]3scr108 , also a case relating to the said ..... for himself and wanchoo j. in ishverlal v. moibhai : [1966]1scr367 while dealing with the proviso which was put in section 43c of the bombay tenancy and agricultural lands act :the proper function of a proviso is to except or qualify something enacted in the substantive clause, which but for the proviso would be within that clause. it ..... constructed or used for the reception or conveyance of such matter. the plain intention of this section is to give power to the municipal corporation to levy halalkhor tax. that tax has t o be a certain per cent, below 5 per cent, of the rateable value. the percentage must, in the opinion of the corporation, suffice .....
Tag this Judgment!Court : Mumbai
Reported in : [1970]76ITR478(Bom)
..... indian income-tax act, 1922, similar questions of law in respect of five assessment years, viz., 1951-52, 1953-54, 1954-55, 1955-56 and 1956-57, arise for decision. in connection with the question which relates to the claim for deduction of the entire managing agency commission and other overhead expenses in respect whereof one-third was disallowed as being attributable to agricultural income ..... section 2(1) of the act, the company was and is totally exempt from income-tax under section 4(3)(viii) of the act. the company was not liable to pay any tax on its agricultural income under the heading 'business income'. the determination of the company's agricultural income on the one hand and its business income on the other was the problem for the income-tax authorities. in connection with this .....
Tag this Judgment!Court : Mumbai
Reported in : [1972]83ITR223(Bom)
..... ranged from rs. 3,000 to rs. 4,000 per year; noted that the income-tax officer had estimated the total income of the assessee for the assessment year 1945-46 at rs. 10,000 which must be business income and agricultural income; that the business income of the accounting year 1944-45 on which the assessee had been assessed in iran ..... the assessee to urge that ground in the appeal before it. now a division bench of this high court in commissioner of income-tax v. hazarimal nagji & co., after considering the relevant sections of the income-tax act and the relevant rules made thereunder, held that the powers of the appellate tribunal are similar to the powers of an appellate ..... order such as annulling the assessment would be outside the scope of the appeal. that judgment holds that the position of an appeal under section 33 of the income-tax act and an appeal under the code of civil procedure is identical. a full bench of the madras high court has in venkata rao v. satyanarayanamurthy, held that .....
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