Court : Chennai
Decided on : Nov-14-1949
Reported in : AIR1950Mad661; [1950]18ITR213(Mad)
..... and we agree with the appellate tribunal that there was no ambiguity in the article and there was no conflict between the article as it stood and section 79, companies act. article 12 before its amendment was a well-known and common form occurring in articles of limited companies, the object of the article as it originally ..... the next question that was raised is whether the amendment of the article by the resolution of the company amounts to a transaction within the meaning of section 10a of the act. the word 'transaction', has been interpreted in a very wide sense and was applied to varying circumstances and facts. the dictionary meaning as given by ..... he was not fully appraised of the circumstances under which the amendment wag carried. that would not, however, preclude the department from invoking the provisions of section 10a, excess profits tax act, in order to get rid of the effect of the amendment and deal with the question in its true perspective. we are, therefore, of opinion .....
Tag this Judgment!Court : Chennai
Decided on : Nov-15-1949
Reported in : AIR1950Mad808; [1950]18ITR181(Mad)
..... resident to which he stoutly objects or to pay a visit to his relations on occasions, thereby drags the joint hindu family into the wide net of section 4-a (b), income-tax act.17. section 4 a (b) by the use of the expression 'situated' with reference to 'the control and management' contemplates a place or locality where the ..... reside and not merely at the place where the management and control of the family affairs and business abided, is no longer tenable in view of section 4-a (b) of the act. under section 4-a (b) the test of residence in the case of firms and undivided hindu families is not the presence of the partners or the ..... the income-tax authorities and the appellate tribunal, but he was unsuccessful in his contention.2. the present section 4 a, income-tax act was inserted by section 5, income-tax amendment act, 1939 and clause (b) of that section, which is the relevant section for the purpose of this case, reads as follows:'a hindu undivided family, firm or other association of .....
Tag this Judgment!Court : Chennai
Decided on : Nov-16-1949
Reported in : AIR1950Mad454; [1950]18ITR150(Mad)
..... business carried on in-british india.14. the next contention of mr. bhashyam and the one which was urged before the appellate tribunal is that even applying section 10 of the act the computation of the business profits derived by the assessees from ceylon, the asses-sees are entitled to a deduction in respect of the sum of rs ..... claimed was not allowed by the income tax authorities and the appellate tribunal. it was claimed that the assesses was entitled to deduct this amount under section 10 (2) (xi) of the act. under that clause bad and doubtful debts are allowable deductions provided in the case of banking or money-lending business the amount represents a loan ..... . 453 being overdrawings of an employee against his salary should be treated as an irrecoverable loan of the applicants' money-lending business within the meaning of section 10 (2) (xi), income tax act, when that amount was not realisable after the death of such employee ?(b) whether the sum of rs. 84,388 paid by the applicants to .....
Tag this Judgment!Court : Chennai
Decided on : Nov-18-1949
Reported in : AIR1950Mad704; [1950]18ITR163(Mad)
..... fundamental question that arises for decision is therefore whether the two lines of business carried on by the assessees constitute the same business within the meaning of section 24 (2), income-tax act, or distinct businesses. under clause (2) :'where any assessee sustains a loss of profits or gains in any yean being a previous year, not ..... whether two dealings in different commodities or the carrying on of different lines of business would constitute the same business or not, within the meaning of section 24 (2) of the act. one thing, however, seems to be definite, and that is that common ownership alone would not constitute different lines of business the same business; ..... venture in a particular year need not persist in similar adventures in succeeding years in order that he may avail himself of the provisions of section 24 (2) of the act. the fact that in a particular year the assessees did not enter into forward or speculative contracts had not the effect of stamping their activities .....
Tag this Judgment!Court : Chennai
Decided on : Nov-21-1949
Reported in : AIR1950Mad785; (1950)IIMLJ21
..... judges held that so long as a partition had not been made at the instance of the widow in exercise of the right conferred on her under sub-section (3) to section 3 of the act, the status of the joint hindu family continues and the widow is capable of being represented in business transactions and in suits by the karta of the ..... and is liable to be attached by her husband's creditors. the learned judge points out that except for the restrictions on her powers by clause (3) of section 3 of the act, the widow takes the husband's interest subject to the rights and obligations to that interest and that interest was the interest of an undivied member of a joint ..... a suit on the note. the basis of his decision was that though the widow does not obtain the right given under the act by survivorship, she does not obtain her right by inheritance either. the effect of section 3 clause. (2) and (3), in the learned judge's opinion, may be regarded'as a survival of the husband's persona in .....
Tag this Judgment!Court : Chennai
Decided on : Nov-21-1949
Reported in : AIR1950Mad629
..... . 1932 mad. 438 that a court's power to allow the refund of court-fee stamps is not confined in sections 13, 14 and 15, court-fees act, and that, under section 151, civil p. c., it has got some more though strictly limited, powers. in re chidambaram chettiar, 57 ..... mad. 1028 : a. i. r. 1934 mad. 566, a later case, we see what these powers under section 151 are. ..... in four petitions almost identical in nature with the present one, for the exercise of the inherent power of the court, under section 151, civil p. c., to refund the court-fees paid in certain appeal memoranda, not numbered as appeals because of the ..... the high court office in the usual course of routine. i see no objection to granting a certificate to that effect under section 151, civil p. c. the government will, of course, pass such orders as they like, after perusing this certificate, .....
Tag this Judgment!Court : Chennai
Decided on : Nov-25-1949
Reported in : AIR1950Mad612
..... ordersubba rao, j.1. the only question in this revision is whether the suit transaction is a kanom within the meaning of the malabar tenancy act. a kanom is defined in section 3(1), malabar tenancy act as follows; ' 'kanom' means the transfer for consideration in money or in kind or in both by a landlord of an interest in specific ..... the definition of kanom does not make it anytheless a kanom. if it is kanom, the kanomdar certainly comes under the definition of a tenant under the malabar tenancy act. 3. the parties described the document as kanom-kuzhikanom -deed. the petitioner in the plaint gave the terms of the kanom deed and described the respondent as a kanomdar ..... contains the aforesaid two terms which are not included in the definition of a kanom, it is argued that the transaction is not a kanom but a mortgage and therefore act xvii [17] of 1946 has no application. in sundara aiyar's malabar law (1) the nature of kanom tenure has been succinctly described as follows: 'kanom is .....
Tag this Judgment!Court : Chennai
Decided on : Nov-25-1949
Reported in : AIR1950Mad438
..... to agree with the plaintiff's version and held that the lace in question was not of such value as to attract the operation of schedule ii of section 75, railways act. (his lordship after discussing the evidence proceeded:)6. another complaint of the learned counsel for the petitioner is that the lower court did not allow an ..... the railway company has not been proved.5. the last argument of the learned counsel is based upon an interpretation of section 75 as well as the second schedule of the indian railways act. according to section 75, when any articles mentioned in the second schedule are contained in any parcel or package delivered to a railway administration ..... , came to the conclusion that for a suit against a railway company for compensation for non-delivery of goods consigned for transit, time under article 31, limitation act (period of one year from date when the goods ought to have been delivered) begins to run from after the definite refusal or declaration of inability to deliver .....
Tag this Judgment!Court : Chennai
Decided on : Nov-29-1949
Reported in : AIR1950Mad393; [1950]18ITR68(Mad)
..... paid in cash but which is represented by the deposit certificates can be considered to be a 'dividend' within the meaning of the definition of that term in section 2(6-a), income-tax act. the expression 'dividend' is defined as'including (a) any distribution by a company of accumulated profits, whether capitalised or not, if such distribution entails the release by .....
Tag this Judgment!Court : Chennai
Decided on : Nov-30-1949
Reported in : AIR1951Mad531
..... pressed on us the undesirability and the impropriety of issuing a declaration which will have the effect of holding that the order of a foreign court as wrong. under section 42, specific belief act, a court is authorised to give declaratory reliefs. it reads :'any person entitled to any legal character or to any right as to any property, may institute a ..... pillai filed e. a. no. 249 of 1945 in o. s. 63 of 1939 on the file of the court of the subordinate judge of sivaganga under order 47 and section 151, civil p. c. praying for an order declaring that the plaintiff was not entitled to proceed against the other properties of defendant l in the petitioner's hands either ..... ask for any further relief.'it is settled law that it is discretionary with the court to grant a declaratory relief or not. at p. 750 of the specific relief act by pollock and mulla the following extract from a judgment of the judicial committee appears :'it is not a matter of absolute right to obtain a declaratory decree. it .....
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