Court : Mumbai
Decided on : Dec-12-1973
Reported in : [1974]94ITR519(Bom)
..... the assessee, subject to a maximum of twenty-five thousand rupees in value;....' clause (xv) of section 5(1) of the act was deleted by the finance act of 1963 (act no. 13 of 1963). by section 32 of the finance (no. 2) act, 1971, section 5(1) (viii) of the act was amended so as to read as follows : '5. (1) wealth-tax shall not ..... other articles intended for the personal or household use of the assessee, but not including jewellery.' 4. it was further provided by section 32 of the said finance act that the words, 'but not including jewellery' in section 5(1)(viii) 'shall be inserted and shall be deemed to have been inserted with effect from the first day of april, ..... 1963'. by section 32 of the said finance act certain provisos and explanations were also inserted at the end of clause (viii) of section 5(1) with which we are not concerned in the present case. it was pursuant to the amendment affected .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-12-1973
Reported in : (1974)76BOMLR675
..... (2).17. i shall deal with the case of state of m.p. v. azad bharat finance co. : 1967crilj285 in considerable detail, because mr. sorabjee placed great reliance on this case. this was a case under section 11 of the opium act, as applicable in madhya pradesh, which provided that a vehicle used for transport of contraband opium 'shall be confiscated' instead ..... not a citizen of india. he relied upon the judgments of the supreme court in the cases of 8. t. corpn. of india v. commrcl. tax officer a.i.r. [1968] s.c. 1811 and tata b. & l, co. ltd. v. state of bihar : [1964]6scr885 wherein the supreme court had expressed the view that a corporation was not ..... referred to as 'the respondents'). respondent no. 5 is the hirer of motor truck no. mrs 9548 from petitioner no. 1 under a hire-purchase agreement dated september 7, 1968 which is exh. 'a'. the amount originally payable under the hire-purchase agreement was rs. 55,236.95 p. which was payable by certain instalments mentioned in the agreement. .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-18-1973
Reported in : [1974]97ITR334(Bom)
..... for our opinion runs as follows : 'whether, in view of the provisions contained in the second proviso to paragraph d of part ii of the first schedule to the finance act, 1959, the company is entitled to deduction of the full rebate on super-tax admissible under the first proviso, ignoring the provisions of the second proviso ?' 38. ..... consumers. they did not form part of the assessee's real profits. so, to arrive at the taxable income of the assessee from the business under section 10 (1) of the act, the said amounts have to be deducted from its total income.' 18. it will appear clear from the aforesaid reasoning that to arrive at the aforesaid ..... this addition of sub-clause (ii-a) to the list of amounts which are declared as not deductible, the deduction claimed cannot be allowed and section 4 of the income-tax (amendment) act, 1972 (act no. 41 of 1972), makes the insertion of the amended provision operative with retrospective effect from the assessment year commencing from 1st day of april .....
Tag this Judgment!Court : Mumbai
Decided on : Apr-27-1973
Reported in : [1974]94ITR616(Bom)
..... the present case attracted the provision of section 69 or section 69a of the income tax act. according to mr. albal, section 69a could have no application to the assessment year of 1962-63 when the section itself was inserted in the statute by the finance act of 1964, with effect from 1st april, 1964, and section 69 can have no application whatsoever even ..... by the high court on august 11, 1964, and the appeal of the petitioner and others to the supreme court was also dismissed by that court on november 6, 1968. 153. in the meanwhile the petitioner (assessee) submitted his return of his income for the assessment year 1962-63 corresponding to the year s. y. 2017, i.e ..... 11, 1964. appeal of the assessee and others to the supreme court in criminal appeal no. 233 of 1964 was ultimately dismissed by the said court on 6th november, 1968. 2. in the meanwhile, the assessee submitted his return of income for the year 1962-63 on september 1, 1962. therein he disclosed his income from property, share .....
Tag this Judgment!Court : Mumbai
Decided on : Apr-25-1973
Reported in : [1973]92ITR241(Bom)
..... of industries in the country. this allowance is in addition to the depreciation allowance and is granted to all assesses. under the indian income-tax act, 1922, section 10(2)(vib), which introduced in 1955 provided for development rebate. the finance act, 1958, granted this allowance subject to the condition of creating development rebates reserve. under the income-tax ..... all dated january 11, 1973, for assessment years 1962-63, 1965-66, 1966-67 and 1967-68 (exhibit 'n' collectively), two undated rectification notices for assessment years 1968-69 and 1969-70 (part of exhibit 'p' collectively), and the undated notice of demand for rs. 6,23,80,888 for assessment year 1970-71 (part of exhibit ..... accumulated by the petitioner for this and the proceeding 2 years in which were no profits amounted to rs. 27,13,62,131. (8) for a.y. 1968-69 the development rebate was determined at rs. 2,97,74,791. there were no profits. therefore the development rebate was allowed to be carried forward. actually on .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-27-1973
Reported in : (1974)76BOMLR359; 1974MhLJ622
..... manufacturing saccharin within the meaning of that act so as to be compelled to take out the excise licence required by section 0 of the finance act and section 2 of the revenue act of 1903, because they did not themselves manufacture saccharin but only subjected saccharin manufactured by others ..... and in a few cases a mixture less sweet than 330 saccharin was produced. the question arose whether the appellants were manufacturing saccharin within the meaning of the finance act, 1901, so as to require them to obtain a licence. it was held on the facts of that case that the appellants were in fact, not ..... more than 20 workers and used electrical power in the manufacturing process, they were governed by the provisions of the said act with effect from june 4, 1968. according to the appellant, the provisions of the act were not applicable to them inasmuch as electrical energy was not used by them in the actual manufacturing process of loaves .....
Tag this Judgment!Court : Mumbai
Decided on : Mar-02-1973
Reported in : [1974]94ITR276(Bom); 1973MhLJ443
..... r. v. subramanyam. in this context it is observed by the mysore high court as under : 'mr. joshi next referred to clause (a) of section 138(1) of the act as substituted by the finance act, no. 2 of 1967, which provides that the central board of direct taxes or any other income-tax authority specified by the board may furnish or ..... such rights are expressly vested in the plaintiff and the production of these documents is also expressly prohibited by law. 4. the trial court by its order dated august 7, 1968, held that : 'hence, in my opinion, as far as returns filed and statements made up to april 1, 1964, the court cannot summon or look into them. ..... by the original plaintiff against an order passed by the civil judge, senior division, nagpur, in civil suit no. 97 of 1966, rejecting his application dated august 5, 1968, objecting to issuance of summons to the income-tax and estate authorities at the instance of the defendant. 2. the applicant plaintiff filed a suit for ejectment and possession .....
Tag this Judgment!Court : Mumbai
Decided on : Jul-24-1973
Reported in : AIR1974Bom142; 1974MhLJ183
..... any substitution because of the historical background attendant upon the provisions of section 43 of the civil procedure code, similarly, in commr, of income-tax v. elphinstone s. & w. mills air 1960 sc 1061, an appeal by the revenue that some of the words in a proviso in finance act (1951) 'may be ignored as being our plumage or a ..... even to the persons of the specified, categorise once they are within the class mentioned by the provision for their right is still governed by sub-section (1) of section 38 of act. surely, such cannot be the intention to exclude a particular calss of persons from having a right to terminate the lease for bona fide personal ..... to the words of the statute.33. in clapham v. national assistant board 1961 (2) qbd 77 the matter arose under the provisions of the national assistance act, 1948, section 44, it was held while construing the words, 'shall in all other respects....................... proceed as on an application made by the mother' that the right with the .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-25-1973
Reported in : (1974)76BOMLR334
..... carried on by or under the authority of any department of the central government within the meaning of section 32(iv) of the payment of bonus act, 1965.2. special civil application no. 1189 of 1968 is directed against an order passed in favour of respondent no. 1 by the ii additional authority ..... 1951. thereafter the board of control was reconstituted with the defence minister as its chairman. the members were the defence secretary, the financial adviser, ministry of finance (defence), the quartermaster general, a representative of naval headquarters and a representative of air headquarters, as per the order of the ministry of defence dated ..... same time, the fact that the defence minister is chairman of the board of control which comprises of the defence secretary, the financial adviser, ministry of finance (defence), the quartermaster general, a representative of naval headquarters and a representative of air headquarters, clearly shows that the establishment is controlled by the government .....
Tag this Judgment!Court : Mumbai
Decided on : Jun-27-1973
Reported in : AIR1974Bom128; 1974MhLJ378
..... there is no substance in this contention raised by shri chandurkar.4. it was then contended by shri chandurkar that by the notification issued under section 3 of the act by the director of agricultural marketing and rural finance the objections were invited within a period of one moth from the date of publication of the notification in the maharashtra government gazette. as ..... business in this grain market after the said notification was issued by the commissioner. after coming into force of the act no. xx of 1964 a notification under section 3 of the said act was issued by the director of agricultural marketing and rural finance. maharashtra state dated 16-10-1979. by this notification it was proposed to extend the said area so as .....
Tag this Judgment!