Court : Privy Council
Reported in : AIR1950PC90
..... of repudiation. but in order to prove himself ready and willing a purchaser has not necessarily to produce the money or to vouch a concluded scheme for financing the transaction. the question is one of fact and in the present case the appellate court had ample material on which to found the view it reached. ..... matter raised by this question have narrowed considerably during the course of proceedings. specific performance was sought against the additional appellants under s. 27 (b), specific relief act, 1877. as it was admitted that they took their transfers of the shares in question with notice of the contract sued upon, the applicability of this enactment ..... before 3rd september 1939, acquire any securities from a person not resident in india or burma. * * * * * * * rule (2). any person........who does any act preparatory to a contravention of any of the provisions of these rules........shall be deemed to have contravened that provision." for the defendants, it was contended that to agree to .....
Tag this Judgment!Court : Chennai
Reported in : AIR1950Mad820; (1950)IIMLJ163
..... . the next decision cited is alopi parshad v. court of wards, a. i. r. 1938 lah. 28 : 181 i. c. 728. the contract in that case provided that b should finance a's litigation in respect of certain property and in return get certain share of the property after the passing of the decree. it also provided that if an appeal ..... : 44 l. j. q. b. 216, the learned judges had to construe the words 'if such debt be payable by virtue of some written instrument at a certain time.' under section 28 of 3 and 4 wm. 4, chap-42, a creditor would be entitled to interest only if the written instrument fixed a certain time for payment. mellor j. says ..... mortgages. the second relief was construed to be one for the specific performance of the agreement to discharge the earlier mortgages. so construing, the learned judges applied article 113. limitation act. at page 411 the learned judges held that the date fixed under article 113 must be the date clearly mentioned in the contract, whether the said contract be oral or .....
Tag this Judgment!Court : Chennai
Reported in : AIR1950Mad444
..... . 337 : 5 i. c. 456 and padmanabhan v. badrinath, 35 mad. 582 : 10 i. c. 126 and the difference in the wording of section 9, opium act and section 15, abkari act, and again held that there was no transfer of the licence.. from this he concluded that the argument based on the 'so called public policy' was extremely misleading ..... . ramachandra iyer is that where a partnership is entered into before the licence is granted, no transfer is involved; because in accordance with the principle underlying section 88 trusts act, the licence becomes the property of the partnership as soon as it is acquired. we do not however agree; for this equitable principle merely requires that ..... four toddy shops, and the profits from those four toddy shops were shared between the seven persons; apparently also all the seven assisted in the working and financing of those shops. on this finding he holds that this association of persons was not an illegal association under the akbari rules. here the petitioner's vakil .....
Tag this Judgment!Court : Chennai
Reported in : AIR1951Mad439; [1950]18ITR849(Mad); (1950)2MLJ777
..... case, 46 mad. 360 : a. i. r. 1923 mad. 422 that section 33 (1) of the act of 1918 corresponding to section 42 (1) of the present act was mere machinery and not a charging section, a view which was based on the interpretation of section 31 (2), english finance act of 1915 by the court of appeal and the house of lords in greenwood ..... in the proper sense of that term. it is not as if the same person is charged in respect of the same piece of income under two different sections of the act by the same taxing authority either directly or indirectly. as already pointed out, it is not incompetent for the indian legislature to enact that a company shall ..... the profits between manufacturing profits and the merchanting profits,15. of the several decisions cited before us, some of the decisions turned upon the interpretation of section 42 of the act and the decisions of the foreign courts turned upon the language of the particular statute which had to be construed. of the decisions in india reference may .....
Tag this Judgment!Court : Chennai
Reported in : AIR1951Mad361; [1950]18ITR423(Mad)
..... kinds of things specifically described as being included in the term, but the kind of things which are specifically mentioned in the english act.' in the eng ish finance act, ii [2] of 1915, in section 3 the words used are 'through or from any branch, factories, agency, receivership or management'. i respectfully agree with the learned ..... british india. from the facts stated above, he inferred that there was business connection of the company in british india within the meaning of section 42 (1) of the act and applying section 42 (3) he arrived at the profits which were reasonably attributable to the operations carried out in british india.7. the assessee appealed ..... the agreement was construed to be a licence and not a sale and that the relationship brought about by the agreement was connection of business within section 42 (1) of the act. beaumont c. j. in cotisidering the meaning of the expression 'through or from any business connection' observed that it connotes some element of .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1950All309
..... jwala bank, filed an application under section 153, companies act proposing a composition scheme and praying for a meeting to be called of the creditors of the bank. this application was opposed by mr. hazari lal kapoor appearing ..... 1st august 1949, one of the creditors, shitala pd. singh, who claimed that a sum of rs. 10,000/- odd was due to him, gave notice under section 163, companies act, and not having received payment, filed an application for compulsory winding up of the jwala bank limited. on 16th september 1949, mr. sanyal, on behalf of the ..... portion of the order no. f. 7/94-f. 1/46, government of india, ministry of finance, new delhi, 6th april 1948, is as follows:'now, therefore, in exercise of the powers conferred by clause (a) of sub-section (1) of section 5 of the said ordinance the central government is pleased with effect from monday the 12th april 1948, .....
Tag this Judgment!Court : Chennai
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, ..... at rangoon. the agents sent extracts of accounts to tuticorin, and they were all entered in the same account books, though in a different folio. the financing of all the transactions, whether they related to purchases or whether they related to forward contracts, was from tuticorin, and the control of all the transactions was ..... places where the business was carried on and separate accounts were maintained in those places would not outweigh the effect of common ownership, unity of control, interdependence for finance and the incorporation of the final results of the business in one. account at the head office.15. the present case is not like scales v. george .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1950All270
..... the appellant or his daughters, nor assessment of such income, until the passing of the indian finance act of 1939, which imposed the tax for 1939-40 on the 1938-39 income and authorised the present assessment. by sub-section (1) of section 6, finance act, 1939, income-tax for the year beginning on 1st april 1939, is directed to be ..... '. this can only refer to the indian income-tax act, 1922, as it stood amended at the date of the indian finance act, 1939, and necessarily includes the alterations made by the amending act, which had already come into force on 1st april 1939.'similar provisions are contained in section 6, finance act of 1914, and on a parity of reasoning the ..... charged at the rates specified in part 1 of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that 'for .....
Tag this Judgment!Court : Allahabad
Reported in : [1950]18ITR75(All)
..... appellant or his daughters, nor assessment of such income, until the passing of the indian finance act of 1939, which imposed the tax for 1939-40 on the 1938-39 income and authorised the present assessment. by sub-section (1) of section 6 of the indian finance act, 1939, income-tax for the year beginning on the 1st april, 1939, is directed ..... can only refer to the indian income-tax act, 1922, as it stood amended at the date of the indian finance act, 1939, and necessarily includes the alterations made by the amending act, which had already come into force on the 1st of april, 1939.'similar provisions are contained in section 6 of the finance act of 1944, and on a parity of ..... to be charge at the rates specified in part i of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1950All249; [1950]18ITR812(All)
..... of appeal in in re waring, (1942) oh. 426 : (1942-2 all e. r. 250), it was assumed that the provisions of section 25, finance act, 1941 were applicable as the will was executed before 1939 although the testator did not die until after that date and the annuities were, therefore, not payable in full. the ..... from the date of his death. the question was whether the annuities were payable in full. this depended upon the decision of the question whether for the purposes of section 25, finance act, 1941, a will should be deemed to be made not at the date of signature but at the death of the testator. following the decision of the court ..... whether payments out of the income of a lunatic of his committee's remuneration and of the lunacy percentage on his clear annual income payable to the court under section 148, lunacy act, 1890, and the lunacy rules, 1892, rule 183, cannot be deducted from a lunatic's gross income for the purpose of an assessment to super-tax, was .....
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