Court : Chennai
Decided on : Apr-23-1973
Reported in : [1973]32STC649(Mad)
..... refunded in respect of articles returned by customers shall not be included in the turnover...5. rule 5-a(a) provides:in pursuance of explanation (2) to section 2(r) of the act, the amounts specified in the following clauses shall not, subject to the conditions specified therein, be included in the total turnover of a dealer :-(a) all amounts ..... that the extra discount given at the end of the month without reference to any particular sale cannot attract the said exemption provisions.4. explanation (2) to section 2(r) of the act, in so far as it is relevant, is set out below :subject to such conditions and restrictions, if any, as may be prescribed in this behalf...(iii ..... of the said view taken by the tribunal.3. according to the revenue, the said sum will not fall under clause (iii) of explanation (2) to section 2(r) of the act and, therefore, the assessee is not entitled to claim deduction in relation thereto. it is pointed out by the learned government pleader that the assessee is in the .....
Tag this Judgment!Court : Chennai
Decided on : Apr-19-1973
Reported in : [1974]96ITR152(Mad)
..... r. in in re millar: ex parte official receiver, [1893] l.r. 1 q.b. 327, :'the phrase 'belonging to the society' in the friendly societies act, 1875, section 15(7) (repealed) which gave protection to a registered society upon the bankruptcy of any of its officers having in his possession, by virtue of his office, any money ..... tribunal upheld the wealth-tax assessments in question.6. at the instance of the assessee, the following three questions have been referred to this court under section 27(1) of the act:' 1. whether, on the facts and in the circumstances of the case, the decision of the tribunal that the assesses are assessable under the provisions ..... of his death. he, therefore, completed the assessments to wealth-tax for the said years on the executors in the status of an 'individual ' under section 16(3) of the act.4. the assesses appealed to the appellate assistant commissioner contending, inter alia, that they as executors in charge of the administration of the estate on and from .....
Tag this Judgment!Court : Chennai
Decided on : Apr-19-1973
Reported in : [1975]101ITR832(Mad)
..... from various mills and that, as such, the transactions in question cannot be considered to be speculative in view of sub-clause (a) to the third proviso to section 24(1) of the act. the assessee's claim for deduction of the two sums as business losses in the respective years was, therefore, allowed by the tribunal. aggrieved against the said ..... of rs. 17,000 in the assessment year 1961-62 were saved from being treated as speculative transactions by clause (a) of the third proviso to section 24(1) of the indian income-tax act, 1922?'2. the assessee in this case is a registered firm, carrying on business in cloth and yarn, and having its head office in madurat and ..... revenue has sought this reference.4. the question referred relates to the scope and ambit of sub-clause (a) to the third proviso to section 24(1) of the indian income-tax act, 1922 (hereinafter referred to as 'the act '). the said provision so far as it is relevant is set out below:'24. (1) where any assessee sustains a loss of .....
Tag this Judgment!Court : Chennai
Decided on : Apr-19-1973
Reported in : [1973]92ITR145(Mad)
..... . 6 lakhs by the board is not justified. it is stated that the managing agency rights have come to an end by august 15, 1960, by virtue of section 324 of the companies act of 1956 and, therefore, it has to be valued or the basis that at the duration of managing agency is only for about three years. it is said ..... inland revenue commissioners v. clay,in support of the the said view. in that case the property was valued for the purpose of increment value duty tinder section 25 of the english finance act of 1910 which provided that the gross value of the property shall be the amount if sold at the time in the open market by a willing seller ..... stock exchange on the relevant date, and that the valuation of the share at rs. 110 by the board is quite arbitrary and contrary to the provisions in section 36 of the estate duty act. 8. we can straightaway reject the contention that the 500 shares held by the deceased should be valued at the price which they actually fetched in the .....
Tag this Judgment!Court : Chennai
Decided on : Apr-19-1973
Reported in : (1973)2MLJ212
..... after briefly referring to some standard books among others.72. the learned advocate-general referred to some of the provisions of the air corporation act (xxvii of 1953), particularly sections 16, 17 and 35 in support of his contention that there are similar provisions in respect of undertakings of existing air companies. for vesting ..... property, and the freedom guaranteed by article 19 (1) (f) is not infringed. in paragraph 20 the learned judge observed that section. 23 of the act which gives provisions of the act a paramount operation, notwithstanding anything inconsistent therewith contained in any other law for the time being in force will not supersede a constitutional ..... bank of canada 1894 a.c. 31 was also made where the privy council held that the dominion legislation is paramount in considering section 109 of the british north america act.50. the learned advocate-general, however, contended that a copy of the draft ordinance having been sent to the president along with the .....
Tag this Judgment!Court : Chennai
Decided on : Apr-19-1973
Reported in : [1974]93ITR122(Mad)
..... not inclined to agree with the contention of the. revenue that as chockalingam chettiar becomes a trustee for the amounts received by him by virtue of section 363 of the companies act, it has to be taken that there is no expenditure incurred by the company for the years in question. there has been actual expenditure in ..... the payment is unauthorised or has been prohibited by some other statute. in view of the said decision even though there is an infringement of section 360 of the companies act in this case, still there being admittedly an actual payment for the actual services rendered by chookalingam chettiar as general manager, the amounts paid will ..... clear that the appointment of chockalingam chettiar as the general manager and the payment of salary to him were not authorised by section 360 of the companies act. in such a case section 363 stands automatically attracted. section 363(1) states that where the managing agent of a company or an associate of the managing agent receives any sum .....
Tag this Judgment!Court : Chennai
Decided on : Apr-09-1973
Reported in : (1974)1MLJ83
..... specified in schedule i, namely, cement, cigarettes, electrical, mechanical or general engineering products, iron and steel, paper and textiles. section 4 of the act, provides for the extension of the act to other factories by a notification in the official gazette. of late, there has been a persistent demand for the extension of ..... of the constitution. it is even more difficult to understand this contention, because as already pointed out, the act applies to all establishments except those recited in section 16 which before its amendment by act xlvi of 1960, exempted establishments belonging to government or to a local authority. but whatever vice there may ..... like plantations, mines, commercial establishments etc. it is, therefore, proposed to include an enabling provision in the act to the effect that, subject to the exemptions provided in section 16, the act shall apply to any establishment or class of establishments as may be specified by the central government by notification in .....
Tag this Judgment!Court : Chennai
Decided on : Apr-06-1973
Reported in : AIR1974Mad199
..... the building and the site. as such, the contention of the learned counsel for the appellant as if no execution can be taken in view of section 13 of the tamil nadu act xxx of 1963 is of no avail.19. the courts below have correctly appraised the matter and have given an order for possession. taking into consideration ..... v. amaravathi ammal : air1971mad182 and ramacchandra naidu v. parameshwaran nair : (1970)1mlj578 , for the proposition that the words 'subject-matter of the suit' in section 17(2)(vi) of the registration act cannot be read as subject-matter of the plaint nor even as a subject-matter in dispute in the suit or proceeding and that if the consent ..... relation to the case on hand. the direction to purchase is only in relating to the subject-matter of the proceeding in the main suit, within section 17(2)(vi) of the registration act, and as such no registration of the decree is needed.17. thiru kothandarama nayanar, the learned counsel for the respondent, also brought to my notice .....
Tag this Judgment!Court : Chennai
Decided on : Mar-31-1973
Reported in : [1975]99ITR419(Mad)
..... the definition.'this court considered a similar question in mammad keyi v. assistant collector of estate duty with reference to the interpretation of section 7(1) of the estate duty act, 1953. it was held therein :'there are several enactments where the definition clause contains the expression to mean and include, in which ..... supreme court also in kantilal manilal v. commissioner of income-tax has considered this question with reference to the definition of 'dividend' in section 2(6a) of the indian income-tax act, 1922. that definition also included various items and excluded certain others. with reference to the contention that the word 'dividend' should ..... to the provident fund account of the assessee;(iii) allowances which are exempted from payment of tax.'under section 15 of the income-tax act, 1961, the income chargeable to tax under the head 'salaries' is stated. section 17 defines 'salary' as including wages, any annuity or pension, any gratuity, any fees, commission, perquisites .....
Tag this Judgment!Court : Chennai
Decided on : Mar-30-1973
Reported in : [1974]33STC325(Mad)
..... relevancy on the question of liability to sales tax. these are considerations which might well have weighed with the government to grant exemption to the society under section 5 of the act; but these are not considerations which the court can take note of. the society seems to have approached the government to grant exemption to them just as ..... if the assessee utilises the profit entirely for charitable purposes, it would have been easy for the legislature to enact such a provision in the act or to grant such an exemption under section 5 of the act. they have not done this. it is of interest to note, as brought to our notice by mr. athanasius, the learned counsel for ..... the respondent, that the government exempted sales of books by any dealer under the provisions of the madras general sales tax act, 1959, for the years .....
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