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 .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1952Cal355
..... profits tax or in deducting 'debts' which would reduce the amount of that capital the debt should be really debt existing at the time. no doubt the provisions of finance act (no. ii [2]) of 1939, sch. vii part 2 which fell to be considered in that case were slightly different from the provisions now under consideration in the ..... in syud tuffazal hossein khan v. baghoo nath, 14 m.i.a. 40, that the expective claim under an inchoate award was not property within the meaning of section 205 of act viii [8] of 1859 (now repealed) & was not saleable in execution of a decree:'an existing debt, though payable at a future day, may be attached, ..... of a risk a contract is entered into between the insurer & the insured though that contract cannot be enforced unless & until a particular event has happened (vide section 82, contract act). an insurance company has to make provision for meeting the liability if it actually accrues on the happening of a particular event. the primary source of income of .....
Tag this Judgment!Court : Kolkata
Reported in : [1949]17ITR331(Cal)
..... held by the judicial committee in syud tuffussool hossein khan v. rughoonath pershad, that the expectant claim under an inchoate award was not property within the meaning of section 205 of act viii of 1859 (now repealed) and was to salable in execution of a decree. 'an existing debt, though payable at a future day, may be attached, ..... tax or in deducting 'debts' which would be reduce the amount of that capital the debt should be existing at the time. no doubt the provisions of finance (no. 2) act, 1939, schedule vii, part 2, which fell to be considered in that case were slightly different from the provisions now under considers by green, m.r. ..... contract is entered into between the insurer and the insured though that contract cannot be enforced unless and until a particular event has happened ( vide section 32 of the indian contract act). an insurance company has to make provisions for meeting the liability if it actually accrues on the happening of a particular event. the primary source .....
Tag this Judgment!Court : Kolkata
Reported in : 1950CriLJ129
..... biswas v. emperor 89 c. w. n. 761. at p. 769 henderson j. observed:the rule of law la contained in section 114, evidence act, which lays down that the court may presume that an accomplice is unworthy of credit unless be is corroborated in material particulars. to ..... of january 1946 be exohanged only on tender of the note for exchange by the owner thereof in the manner provided in this section.sub-section (2) then goes on to provide :every such owner of a high denomination bank; note desiring to tender it for exchange ..... 2. cohen was a direotor of a bank known as the lall bank and it is said that he was in charge 'of the finance side of the bank. the managing director of the bank wag a mr. k. lall, who was also the proprietor of a firm ..... for such exchange, or if it so desired, a credit of that amount with the beserve bank or a scheduled bank.6. sub-section (2) provided that a scheduled bank or a government treasury could obtain from the reserve bank an equivalent amount in bank notes of the .....
Tag this Judgment!Court : Mumbai
Reported in : (1949)51BOMLR945
..... ordered to produce. in india, where a will may be deposited with the registrar under the indian registration act, the terms of the act ensure that the contents remain secret until the death of the executant. [see sections 42-45, section 55(4), section 57(2)].16. apart from this case their lordships know of no case, and the industry of counsel ..... positive the restaurant must pay and that handsomely in a year or two at the most. provided mr. gulam hussein gives of his best.vii. the restaurant has been financed by me not for my own personal gain, but solely on behalf of mr. gulam hussein, as a token of friendship towards him. to enable him to take ..... part proprietor of the business, and that so far as he knew fielden was throughout given to understand that the respondent was the manager of the business and had acted throughout on that understanding. fielden was no doubt an independent witness and the learned trial judge rejected his evidence, not because he thought that fielden was a false .....
Tag this Judgment!Court : Privy Council
Reported in : AIR1949PC151
..... positive the restaurant must pay and that handsomely in a year or two at the most. provided mr. gulam hussein gives of his best. vii. the restaurant has been financed by me not for my own personal gain, but solely on behalf of mr. gulam hussein, as a token of friendship towards him. to enable him to take once ..... part proprietor of the business, and that so far as he knew fielden was throughout given to understand that the respondent was the manager of the business and had acted throughout on that understanding. fielden was no doubt an independent witness and the learned trial judge rejected his evidence, not because he thought that fielden was a false witness ..... ask us to attach importance to the corroboration of that substantive evidence by that very man who had been called by the learned judge a liar." [9] the learned acting chief justice who delivered a concurring judgment dealt with ex. a in these terms : "on the plaintiff's own admission it was subsequently written out by him. therefore .....
Tag this Judgment!Court : Mumbai
Reported in : (1949)51BOMLR333
..... or saved.' one of these artificial rules is the rule of estimating income from property. this was conceded in a reference under the govrnment of ireland act, 1920 and section 3 of the finance act (northern ireland), 1934 in re [1936] a.c. 352, where it was stated that 'the method of assessing income derived by ownership or occupation ..... a reference under the government of ireland act, 1920 and section 3 of the finance act (northern ireland), 1934, in re (supra). the question which arose in that case was whether the provisions of section 3 of the finance act (northern ireland), 1934, were beyond the powers of the parliament of northern ireland. section 3 of the act of 1934 imposed a tax on ..... point which arose in that case was precisely the same as the one raised before us. the point was whether the urban immovable property tax levied by section 22 of the amended bombay finance act, 1932, was beyond the powers of the bombay legislature, on the ground that it was essentially a tax on income.23 .....
Tag this Judgment!Court : Mumbai
Reported in : (1949)51BOMLR287
..... in respect of certain trading and business operations of the durbar the indian income-tax authorities sought to make the durbar liable under the government trading taxation act, iii of 1926. section 2 of that act, which alone is material for the present case, runs as follows:-2 (1) where a trade or business of any kind is carried on by or on ..... and banking business is not carried on in british india. the result of this decision is that the location of trade is not material, so far as the charging section of act iii of 1926 is concerned. it was not disputed that the income sought to be taxed need not always actually arise in british india to make it liable to tax ..... with the government trading taxation act iii of 1926?this question arose on the following statement of facts:-the late mr. f.e. dinshaw, who was the agent of the durbar for its money lending operations, entered into an agreement with tata iron and steel co., ltd., to finance the company, at a time when it was badly in need of .....
Tag this Judgment!Court : Mumbai
Reported in : 1949CriLJ363
..... i. c. 988 : (a.i.r. (6) 1919 oudh 217) a division bench made the following observations at pp. 989 and 990reliance is placed on the appellant's behalf on section 2, court of wards act, 1899, which says that all orders issued under repealed enactments shall be far as may be, be deemed to have been issued under the new ..... which the detenu had actively tried to foment and incite strikes and it was, therefore, undoubtedly vague; but the advocate general relied on section 35 (2) and the proviso to 8 4, central provinces and berar public safety act, 1948 (lxii 62] of 1918) which received the assent of the governor-general on nth october 1948 and was published in the central ..... good reason against it, but we are unable to accept the contention of the learned advocate. general that the relevant part of the act. of 1948 amounted merely to an alteration in procedure. in national real estate and finance go. v. hassan, (1939) 2 k. b. 61 : 108 l.j.k.b. 380 it was held that where vested rights are .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1950Bom4; (1949)51BOMLR602
..... shankar maruti v. bhagwant gunaji 49 bom. l. r. 72 : a.i.r. 1947 bom 259 the practice consistently was to treat the partition suits as falling under section 7(v), court-fees act. this question was considered exhaustively by the full bench who ultimately came to the conclusion that (p. 81) :'in view of the weight of authority, it should now ..... mistake he followed the old practice and paid excessive court fees on the wrong basis that the appeal like the original suit from which it arises fell under section 7(v), court-fees act. on the other hand, it has been urged by mr. thakor who has appeared amicus curia in these proceedings at our instance that what is true about ..... this case was due to the fact that under the earlier decisions of this court suits for partition and appeals arising therefrom were wrongly treated as falling under section 7(v), court-fees act. in such a case we have no hesitation in holding that it would be open to us to grant a certificate to the appellant entitling him to a .....
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