Court : Mumbai
Reported in : [1948]16ITR301(Bom)
..... deed or deeds with the consent of any one of five persons of whom two were the trustees revoke the settlement. it was held by lord buckmaster that section 20 (1) of the finance act of 1922 did not apply to that case since the power of revocation could only be exercised with the consent of some persons other than the settler. but ..... , to my mind, that case is of no assistance to us in interpreting section 16 (1) (c) of the indian income tax act because when one turns to section 20 (1) of the finance act of 1922 under which that case was decided, that section in terms provides that the settlement must be 'revocable without the consent of any other person.' indeed .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR320
..... deed or deeds with the consent of any one of five persons of whom two were the trustees revoke the settlement. it was held by lord buckmaster that section 20(1) of the finance act of 1922 did not apply to that case since the power of revocation could only be exercised with the consent of some persons other than the settlor. but ..... , to my mind, that case is of no assistance to us in interpreting section 16(1)(c) of the indian income-tax act, because when one turns to section 20(1) of the finance act of 1922 under which that case was decided, that section in terms provides that the settlement must be 'revocable without the consent of any other person.' indeed .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1949Bom12; [1948]16ITR98(Bom)
..... incoming of pounds 1,150 for the land disposed of was 'income received from an investment,' and, the business not being one within the special categories mentioned in the finance act, held that pounds 400 was not taxable, and the court held that the amount was an investment. in this case it is important to note that owing to war ..... from business or from other sources.reliance is in the first instance placed by the advocate-general on behalf of the assessee on section 12 (3) of the income-tax act. section 12 deals with 'other sources' of income. sub-section (3) thereof provides that where an assessee lets on hire machinery, plant or furniture belonging to him and also buildings, he ..... apply. the court held that the letting of the jute press at a rent was a business and the assessee was entitled to the allowance claimed by him under section 10. hence again the jute press was a commercial asset and the assessee instead of working it himself chose to have it worked by somebody else and received a .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1926Bom539
..... other association of individuals, not being a registered firm, an additional duty of income-tax (in this act referred to as super-tax) at the rate or rates laid down for that year by act of the indian legislature.7. under section 7 of the finance act, 1925, the rates of super-tax for the year beginning on the first day of april 1925, shall ..... , for the purposes of section 55 of the indian income-tax act, 1922, be those specified in part ii of the third schedule ..... facts of this case the company can be assessed for super-tax on the profits of the previous year at any, other rate than that which is provided by the finance act for 1925. if, as a, matter of fact, the turf club, before it became a company could have come within the definition of 'registered firm,' we think the company .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1928All447; 114Ind.Cas.743
..... mother of the minor the district judge on that very day granted the application. the order consists of one word 'sanctioned.' it did not comply with the requirements of section 31 of act 8 of 1890 and did not recite the necessity or the advantage. nor did it describe the property with respect to which the permission was given, nor did it ..... the mortgage-deed of 5th december 1920 it is to my mind impossible for the mortgagee now to assort that the money he advanced was lent for the purpose of financing a business which was nothing but the carrying on under a new name of the ancestral family business which had come down from hardeo mal.31. on this finding, ..... the managing member with unlimited discretion in the conduct of a business financed from the funds of the family and indeed it has never been claimed that a managing member has such absolute authority to bind the other members by his acts. he can only bind the others by acts done in the course of prudent management. what is found in the .....
Tag this Judgment!Court : Chennai
Reported in : AIR1916Mad903; 30Ind.Cas.41
..... high court ought not to interfere in revision. this raises the question of the power of the high court to interfere in revision under section 115, civil procedure code, and section 15 of the charter act. section 115, civil procedure code, empowers the high court to call for any case which has been decided by any court subordinate to such high court and ..... 1913 was filed by the widow of the hajah of tuni against the defendants to enforce the terms of an agreement entered into with her husband (who financed the litigation in connection with the vizianagaram instate), whereby the plaintiff's husband was entitled to a certain share in the decree that may be passed in the ..... of the contract act. upon this plaint, written statements were filed and various defences were raised. for the purpose of this petition it is sufficient to refer to two of them. the first defence was that the plaintiff's husband committed a breach of contract and wrongly refused to finance the suit and that consequently he .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1947Bom30; (1946)48BOMLR498
..... reference under section 5 of the court-fees act, a controversy having arisen with regard to the amount of fees which must be paid in taking out a succession certificate. the contention of the petitioner is that on a proper reading of articles 11 and 12 of the court-fees act, 1870, as superseded by the bombay finance act (ii ..... certificates. since then he has found three more certificates covering 300 shares.5. the contention of the petitioner is that having regard to the wording of the, finance act (ii of 1932) which deals with the court-fees payable in respect of a succession certificate, no fee is payable because each share certificate covers one hundred ..... context can bear either meaning. the use of the word 'debt' or 'security' in the singular leads to no conclusion by itself. in the bombay general clauses act, section 13, it is provided that words used in the provincial legislation in the singular would include plural and vice- versa, unless the context showed otherwise. in the present .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR328
..... the incoming of 1,150 for the land disposed of was 'income received from an investment,' and the business not being one within the special categories mentioned in the finance act held that 400 was not taxable, and the court held that the amount was an investment. in this case it is important to note that owing to war conditions ..... or from other sources.11. reliance is in the first instance placed by the advocate general on behalf of the assessee on section 12(3) of the indian income-tax act. section 12 deals with 'other sources' of income. sub-section (3) thereof provides that where an assessee lets on hire machinery, plant or furniture belonging to him and also buildings, he ..... apply. the court held that the letting of the jute press at a rent was a business and the assessee was entitled to the allowance claimed by him under section 10. here again the jute press was a commercial asset and the assessee instead of working it himself chose to have it worked by somebody else and received a .....
Tag this Judgment!Court : Mumbai
Reported in : (1921)23BOMLR609
..... terms which became necessary owing to the businesses which were excepted being entered in a schedule instead of in the body of the act. the last paragraph of section 39 of the english finance act made it clear that certain businesses were included in the term 'all trades and businesses' and did not come within any of the ..... i. now the proviso which comes after no. 8 in schedule i is obviously taken from section 39, chap. 89, of the english finance act (no. 2) of 1915. that section provided that the trades and businesses to which that part of the act applied were all trades or businesses (whether continuously carried on or not) of any description ..... reference is unnecessary.3. the collector and the chief revenue authority decided that the petitioners were liable to be assessed under the excess profits duty act, as under section 3, the act was applied to every business other than the business specified in schedule i, the petitioners contend that, they come within one of the exceptions in .....
Tag this Judgment!Court : Chennai
Reported in : (1943)2MLJ8
..... k.b. 686 where it was held that if the owner of a business sells it to a company, the business is not discontinued within the meaning of section 24(3) of the finance act, 1907, which provides. that where a profession, trade, or vocation is discontinued, a person charged or chargeable with income-tax in respect of that profession, trade ..... ) has been in existence side by side with a provision for relief in cases of discontinuance rule 8(2) of the same rules corresponding to section 25(3), finance act, 1907, but this has not,been considered to warrant the wider interpretation of the word 'discontinued' favoured by the bombay high court (see bartlett v. inland revenue ..... question:whether the income of the family from the 13th april, 1938, to the and june, 1938, is not liable to be taxed by virtue of section 25(3) of the income-tax act? ' in his statement of the case the commissioner has suggested that the application of the petitioner made to the income-tax officer on the 22nd december .....
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