Court : Chennai
Reported in : (1927)53MLJ672
..... back must refer to the repayment of the tax in the united kingdom referred to in section 49 and that the words 'tax was recovered' must be read as meaning tax was refunded to the assessee under the provisions of section 27 of the finance act of 1920. unfortunately for this contention we see that s.50 is applicable not only to ..... section 49 but also to section 48; and if we are to apply this meaning of the word 'recovered' to section 48, it would mean that when a person had obtained ..... a refund under section 48 he is given under section 50 another year .....
Tag this Judgment!Court : Chennai
Reported in : AIR1927Mad1039
..... of the word 'recovered' to section 48, it would mean that when a person had obtained a refund under ..... of tax in the united kingdom, referred to in section 49, and that the words 'tax was recovered' must be read as meaning 'tax was refunded to the assessee under the provisions of section 27, finance act, 1920.' unfortunately for this contention we see that section 50 is applicable not only to section 49, but also to section 48; and if we are to apply this meaning .....
Tag this Judgment!Court : Mumbai
Reported in : [1944]12ITR104(Bom)
..... excess and shall, in respect of any chargeable accounting period beginning after that date, be equal to such percentage of that excess as may be fixed by the annual finance act.'the percentage has since been increased. no doubt, the tax has some of the features of income-tax, and the assessment is made on the same principles as assessment ..... same manner. there are some minor distinctions between the two taxes. income-tax is levied on a sliding scale, whereas excess profits tax is a fixed percentage; under section 12 excess profits tax can be deducted for the purpose of ascertaining income-tax, which distinguishes it from super-tax; and there is no provision in cases where tax ..... has been paid by a company for any refund being made to the share-holders such as is given is section 48 of the indian income-tax act, 1922. however, i do not think that such minor distinctions would be enough to differentiate excess profits tax from income-tax for the purposes of .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1944Bom5; (1943)45BOMLR951
..... that excess. and shall, in respect of any accounting period beginning after that date, be equal to such percentage of that excess as may be fixed by the annual finance act.the percentage has since been increased. no doubt, the tax has some of the features of income-tax, and the assessment is made on the same principles as assessment ..... same manner. there are some minor distinctions between the two taxes. income-tax is levied on a sliding scale, whereas excess profits tax is a fixed percentage; under section 12 excess profits tax can be deducted for the purpose of ascertaining income-tax, which distinguishes it from super-tax; and there is no provision in cases where tax ..... has been paid by a company for any refund being made to the shareholders such as is given in section 48 of the indian income-tax act, 1922. however, i do not think that such minor distinctions would be enough to differentiate excess profits tax from income-tax for the purposes of .....
Tag this Judgment!Court : Chennai
Reported in : AIR1929Mad453; (1929)1MLJ451
..... only other question is, can we find any difference between the language of the indian act, with which we are concerned and the language of the finance act, 1907, on which the scottish case was a decision? i am not going to read the two sections at length. it is sufficient to say that i have scrutinised them very carefully with the ..... either something on the facts to distinguish this case from that or that there is a material variation in the language respectively of the indian and the corresponding english section. i say advisedly material because indian draftsmen for some reason are always making little changes of language which do not mean anything at all vital to the true ..... aid of counsel and that i am quite clearly of opinion that there is no material difference in the language and that, whatever was intended to be effected, the scope of the indian act is absolutely the same .....
Tag this Judgment!Court : Chennai
Reported in : AIR1928Mad543; 110Ind.Cas.207; (1928)54MLJ524
..... such motives or objects into consideration, and a subject is entitled, if he can in any legal manner, to circumvent the incidents of a particular taxing or financing act. according' to section 6, income from business is assessable only if it be not agricultural income, and to invert this and contend, as was argued in this case, that ..... the qualification 'unless there is anything repugnant in the subject or context'. it was argued by mr. patanajali sastri for the commissioner that as in section 10 read with section 6 the act provides that the tax shall be payable by an assessee under the heading of 'business', in respect of the profits or gains of such business ..... and other sources of income are all indicated as heads of income chargeable with income-tax, still the section begins with the words 'save as otherwise provided by this act'. in clause 3 of section 4 it is, however, provided that the act shall not apply to certain classes of income and the sub-clause 8 thereof is ' agricultural income .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1932All83
..... on which the assessee was taxed again cannot hold water.12. there is however another clause in section 34, which, in our opinion, is applicable and it is this : 'or has been assessed at too low a rate.'13. the scheme of the indian finance act of 1929 shows that in assessing super tax, the income of the assessee is to be taken ..... his mistake for not charging any super tax on a sum of rs. 25,000.2. the income-tax officer on 12th march 1930 issued a notice under section 34, income. tax act read with section 58, and asked for a fresh return. the assessee made a return and stated that his income was rs. 85,000 odd. the income-tax officer being ..... the learned counsel is based on the meaning of the words assess 'and assessment,' and he points out that the words 'assess' and 'assessment' have bean used in section 23 of the act in the sense offinding out the total income of an assessee, such income being liable to be taxed.7. we have consulted murray's english dictionary and we find .....
Tag this Judgment!Court : Allahabad
Reported in : 137Ind.Cas.77
..... cannot hold water.12. there is however another clause in section 34, which in our opinion, is applicable and it is this: 'or has been assessed at too low a rate.'13. the scheme of the indian finance act of 1929 shows that in assessing super-tax, the income ..... meaning of the words 'assess' and 'assessment' and he points out that the words assess and 'assessment' have been used in section 23 of the act in the sense of 'finding out the total income of an assessee such income being liable to be taxed'.8. we have consulted ..... sum of rs. 25,000.3. the income-tax officer on the 12th of march. 1930, issued a notice under section 34 of the income tax act read with section 58, and asked for a fresh return. the assessee made a return and stated that his income was rs. 85 ..... '. in this view we can easily say that not only within the spirit but within the letter of the words of section 34 of the income-tax act a sum of rs. 25,000 has been assessed 'at too low a rate.' we are therefore of opinion that the .....
Tag this Judgment!Court : Mumbai
Reported in : (1937)39BOMLR374
..... the profits as an individual, or whether these six shares should each be assessed as income of a hindu undivided family. the rates of super-tax imposed by the relevant finance act are less in the case of a hindu undivided family than in the case of an individual.2. the problem has to be answered by applying to the facts of ..... thrown into the common stock, it cannot be regarded as income of the family. it is the income of an individual and assessable to super-tax as such under section 55 of the act. in these three cases, therefore, the high court should have answered the first question in the affirmative and the second question in the negative.7. the interest ..... simple words and are capable of wider or narrower meaning; but for the present purpose the courts are concerned with them as they appear in an income-tax act; and under section 3 or section 55 income is not to be attributed to any one of the five classes of persons mentioned by any loose or extended interpretation of the words, but .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1926Bom129; (1925)27BOMLR1471
..... was raised in bartlett v. inland revenue commissioners [1914] 3 k. b. 686. the owner of a business sold it to a company. under the provisions of section 24 sub-section 3 of the finance act 1907 he claimed that he was only chargeable with tax on the actual amount made in the year of discontinuance and there was no power to go back ..... very simple. the trade was not discontinued in the year, the trade was sold to a company and continued during the whole year; and in my view therefore section 24 of the act of 1907 has no application to this case,' i would answer the question i have framed above in the negative. the assessees must pay the costs of the referencecoyajee ..... only to cases in which a business was discontinued entirely and not to cases in which it was transferred from one set of proprietors to another, and that under section 26 of the act the new company as successors to the business were liable to be taxed on the profits made by the company in 192v! and they were taxed accordingly. the .....
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