Court : Supreme Court of India
Reported in : AIR1961SC1019; [1961]41ITR624(SC); [1961]3SCR37
..... said act. it was held that the dividend of a shareholder was the outcome of his right to participate in ..... bacha f. guzdar v. commissioner of income-tax, bombay : [1955]27itr1(sc) at p. 883. that was a case in which the question that arose for decision was whether dividend declared by a company growing and manufacturing tea was agricultural income within the meaning of s. 2(1) of the income-tax act and hence exempt from income-tax under s. 4(3)(viii) of ..... should not have answered the third question, because it did not arise out of the order of the tribunal. the argument is that under s. 66 of the income-tax act, the tribunal could refer to the high court any question of law which arose out of its order, but it was not open to the tribunal to refer .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1961SC1099; [1961]41ITR755(SC); [1961]3SCR285
..... 'non-bearing and immature' rubber grown areas also. the appellant then preferred a revision application to the high court under section 54(1) of the madras plantations agricultural income tax act, 1955 (mad. v of 1955). the high court held that the amount spent on the upkeep and maintenance of immature rubber trees was a deductible expenditure under ..... and exclusively for the purpose of the plantation.' 3. the provisions of section 5 (e) of the madras act, applicable to the present case, are the same as those of section 5 (j) of the travancore cochin agricultural income-tax act (xxii of 1950). the only difference is in the last few words. in place of 'fir the purpose ..... of the plantation' in the former, the words 'for the purpose of deriving the agricultural income' are used in the latter. if anything, the words of the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1961SC604; [1961]41ITR751(SC); 1961(1)MhLj55; [1961]3SCR279
..... for the upkeep and maintenance of immature portion of the rubber plantation, was allowed by the agricultural income-tax tribunal and at the instance of the respondent a reference was made to the high court under s. 60(1) of the agricultural income-tax act (xxii of 1950), hereinafter termed the 'act', and that was reference no. 18 of 1955. 3. during the accounting year 1951 corresponding to ..... high court of kerala and arise out of a common judgment of that court given in three agricultural income-tax reference nos. 15, 18 and 19 of 1955. in the first reference the question raised was : 'whether under the travancore-cochin agricultural income act, 1950 in calculating the assessable agricultural income of a rubber estate already planted and containing both the mature yielding rubber trees and also immature .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1961SC1147; [1961]42ITR770(SC); [1961]3SCR405
..... question which was submitted by the board of agricultural income-tax, bihar, under s. 28(3) of the bihar agricultural income-tax, act, xxxii of 1948 - hereinafter referred to as the act : 'whether, in the facts and circumstances of the case the petitioner could be legally assessed for the income of the estate in 1355 fasli when the ..... rs. 20,290-13-0 as agricultural income-tax. appeals against the order of assessment preferred to the commissioner of agricultural income-tax and the board of agricultural income-tax bihar, were unsuccessful. the board however referred the question set out hereinbefore to the high court under s. 28(3) of the act as arising out of its order. ..... appeal is whether the appellant was liable to be assessed to pay agricultural income-tax for the year in which the estate was in the management of the court receiver. section 3 of the act which is the charging section provides : 'agricultural income-tax shall be charged for each financial year in accordance with and subject .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1961SC1579; [1961]42ITR392(SC); [1962]1SCR257
..... ). if so, whether the whole of the said sums less the expenses incurred by the assessee in tending the tea bushes constituted agricultural income in his hands exempt from tax under the indian income-tax act, 1922 ?' 6. the reference was heard by sarjoo prasad, c.j., and ram labhaya, j., along with two writ petitions, which had also been filed ..... these observations, though made under a different statute, are, in general, true of a business as such, and can be usefully employed under the indian income-tax act. our act divides the sources of income, profits and gains under various heads in s. 6. business is dealt with under s. 10, and the primary condition of the application of the ..... clear that the business of the appellants as tea-growers and tea-manufacturers had come to a stop. the word 'business' is not defined exhaustively in the income-tax act, but it has been held both by this court and the judicial committee to denote an activity with the object of earning profit. to say that a business .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1961SC1389; [1961]42ITR711(SC); [1962]1SCR512
..... of the federal legislature was given in s. 100 of the government of india act, 1935, and the power to tax income was contained in item 54 of list i of the seventh schedule which was as follows :- 'taxes on income other than agricultural income.' 5. part vii of the government of india act, 1935, deals with finance, property and suits and the first chapter deals with finance ..... relevant section which has been relied upon by the petitioners, i.e., s. 138(1) of that act, is in that part which deals with distribution of revenues between the federation and the federal units. that section reads :- section 138(1) 'taxes on income other than agricultural income shall be levied and collected by the federation,....... provided that - (a)...................................(b) the federal legislature may at .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1962SC141; [1962]44ITR538(SC); [1962]2SCR848
..... 390 and rs. 38,079 or a part thereof, could be allowed as revenue deduction under section 14(5)(a) or 14(5)(b) of the hyderabad income-tax act ?' 3. as stated already, all the three questions were answered by the high court against the appellant. he obtained special leave from this court on three ..... for extracting sendhi or toddy and from 'baithak' which under proviso 2 and explanation respectively of clause (4) of section 2, is deemed to be non-agricultural income, such income, profits and gains shall be computed after making the following allowances : (a) all such expenses not being his private or personal expenses which the assessee may ..... occupier of non-khalsa land for its use or possession, the income that arises from renting of trees for extraction of sendhi or toddy, the income from abkari rentals and the income which under the provisions of section 2(4) is deemed to be 'non-agricultural' income, all such incomes, profits and gains shall be computed after making the following .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1962SC123; [1961]43ITR393(SC); [1962]2SCR983
..... )(a)(i) of the indian income-tax act, 1922 (act xi of 1922), (hereinafter called the act). 2. the facts are not in dispute and may be briefly narrated. the petitioner, balaji, his six sons, and his wife, by name godawaribai, constituted a joint hindu family. the family was a trading family and it had, besides business in money-lending, considerable agricultural lands. on november 23 ..... entry 54 in the federal legislative list of the government of india act, 1935, did not confer on the legislature any power to tax a on the income of b and, therefore, the sub-section was ultra vires the legislature. entry 54 of the federal legislative list ran : 'taxes on income other than agricultural income'. the said entry is identical with item 82 of list i of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1962SC186a; [1962]44ITR6(SC); [1962]3SCR157
..... this appeal by a certificate arises out of a reference made to the high court at calcutta under section 63 (i) of the bengal agricultural income-tax act (iv of 1944) (hereafter called the act). the appellant, the dooars tea co. ltd., is a public limited company and it carries on business of growing, manufacturing and selling ..... utilised for its own benefits in its tea business, agricultural income within the meaning of the bengal agricultural income-tax act and (2) if the answer to question no. (i) be in the affirmative, can such income be computed under rule 4 of the rules framed under the act 6. the high court has answered both these questions ..... it has been urged before us that the definition of agricultural income prescribed by section 2 of the act is common to all the state enactments in respect of agricultural income and is the same as the definition of agricultural income prescribed by section 2 (i) of the income-tax act. the same definition has been adopted by the constitution under .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1962SC171; [1962]32CompCas414(SC); [1961(3)FLR307]; (1961)IILLJ385SC; [1962]3SCR269
..... by the central government in exercise of the powers conferred under sub-section 4 of section 29 of the banking companies act to read 'income (less provision made during the year for bad and doubtful debts and other usual or necessary provisions) '. the effect of this alteration is that the ..... at the outset is the manner in which a bank is permitted to present its profit & loss account. on the income side the form originally prescribed by the banking companies act required the banks to declare 'income less provision made during the year for bad and doubtful debts) '; this has now been altered by an amendment made ..... ) '. this last item was modified by a notification issued under the power conferred by section 29(4) of the act in december 1951, so that after amendment the heading 'income' in the profit & loss account ran : 'income (less provision made during the year for bad and doubtful debts and other usual and necessary provisions'). thus so far .....
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