Judgment Search Results Home > Cases Phrase: finance act 2007 section 12 amendment of section 35 Sorted by: recent Court: privy council Page 5 of about 1,485 results (0.037 seconds)

Shree Laxmi Silk Mills, Bombay Vs. Commissioner of Excess Profits Tax, ...

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 .....

Shree Laxmi Silk Mills Vs. the Commissioner of Excess Profits Tax Act

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 .....

Raja of Venkatagiri Vs. Krishnayya Rao

Court : Mumbai

Reported in : (1948)50BOMLR517

..... the respondent, there was no 'consideration' in law for the promissory note as the respondent had not brought himself either under section 2, clause (d), or under section 25, sub-section (2), of the indian contract act. in his view, the advances made by the maharajah and his successors were not made at 'the desire' of the ..... the appellant and his predecessors is only consistent with the view that they must have felt that there was an obligation binding on the venkatagiri family to finance the gollaprole litigation from the beginning to its end. indeed, the conduct of the appellant and his predecessors form an illuminating commentary of the binding nature ..... liable for repayment. the respondent's natural father gave his consent to the adoption of the respondent by ramayamma only because raja gopala krishna had agreed to finance the litigation, if ramayamma failed to do so. therefore raja gopala krishna was under an obligation to provide the necessary money when called upon. in agreement .....

Raja of Venkatagiri Vs. Sri Krishnayya Rao Bahadur, Zamindar

Court : Privy Council

..... . the question was considered by the court in the light of s. 2, cl. (d) and s. 25 sub - s. (2), contract act, (act 9 [ix] of 1872.) [4] section 2, cl. (d), contract act, in so far as it is material is as follows : "when at the desire of the promisor the promisee or any other person has done or ..... conduct of the appellant and his predecessors is only consistent with the view that they must have felt that there was an obligation binding on the venkatagiri family to finance the gollaprole litigation from the beginning to its end. indeed, the conduct of the appellant and his predecessors form an illuminating commentary on the binding nature of the ..... make him liable for repayment. the respondent's natural father gave his consent to the adoption of the respondent by ramayamma only because raja gopala krishna had agreed to finance the litigation, if ramayamma failed to do so. therefore raja gopala krishna was under an obligation to provide the necessary money when called upon. in agreement with the .....

Behramji Sorabji Lalkaka Vs. Commissioner of Income-tax, Bombay.

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 .....

Behramji Sorabji Lalkaka Vs. Commissioner of Income-tax

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 .....

Nanalal Zaver Vs. the Bombay Life Assurance Co., Ltd.

Court : Mumbai

Reported in : AIR1949Bom36; (1948)50BOMLR413

..... there might be on the subject is entirely eliminated when one looks at regulation 42 which forms part of sell. i of the indian companies act. as is well-known, under section 17 of the act this schedule forms part of the articles of the company unless a company chooses to have its own set of articles. certain regulations are compulsory ..... .4. the first question we have to consider is whether the issue of further shares by the first defendant company contravenes the provisions of section 105(c) of the indian companies act. the scheme of that section is fairly clear. it is left to the discretion of the directors to decide whether an increase in the capital of the company is ..... lordship proceeded:14. we have given very careful thought to all the arguments advanced by mr. amin. undoubtedly this is a case of high finance and we have been given a glimpse of what high finance can be, and there is great justification in what mr. amin has said as to the manner in which some of the things were done .....

Pearey Lal Vs. Nanak Chand

Court : Mumbai

Reported in : (1948)50BOMLR643

..... that there was no nucleus of ancestral property from which the cycle business could have been developed. it is also common ground that the cycle business was originally financed from the accumulated profits of a cloth, tailoring and drapery business also carried on in delhi. the respondent claims that he was associated with the appellant in the ..... on three occasions in 1911 and 1912 the appellant collected and appropriated sums due under small causes court decrees to the firm 'pearey lal-nanak chand' or 'e. section pearey lal-nanak chand.' he explains that he did this by mistake, but he does not account for the respondent's failure to have the alleged mistake rectified. ..... two years later the appellant tried to dispose of the respondent in the same way. him, too, he dismissed and he revoked with ostentatious publicity his authority to act for the cycle business. but the respondent was of firmer mettle than his younger brother, and the correspondence shows that he was by no means the cypher in .....

Pearey Lal Vs. Nanak Chand and Others

Court : Privy Council

Reported in : AIR1948PC108

..... that there was no nucleus of ancestral property from which the cycle business could have been developed. it is also common ground that the cycle, business was originally financed from the accumulated profits of a cloth, tailoring and drapery business also carried on in delhi. the respondent claims that he was associated with the appellant in the ..... two years later the appellant tried to dispose of the respondent in the same way. him, too, he dismissed and he revoked with ostentatious publicity his authority to act for the cycle business. but the respondent was of firmer mettle than his younger brother, and the correspondence shows that he was by no means the cypher in ..... of the cycle business of which he was then in charge in order to visit kashmir. the appellant dismissed him from the business and revoked his authority to act for it. subsequently there was a reconciliation on terms humiliating for raghu nath parsad, who accepted the position of an employee. the high court held that this .....

Gokulchand Dwarkadas Morarka Vs. the King

Court : Privy Council

Reported in : AIR1948PC82

..... relate to an offence essentially different from that to which the sanction relates. 11. their lordships were referred to certain decisions upon the group of sections in the code of criminal procedure, 195 to 199, relating to sanctions. these cases do not appear to lay down any principle inconsistent with the ..... terms: sanction to prosecute. (signed) h. n. g. cotton cloth and yarn (control) order, 1943. contravention of the provisions prosecutions for - government of bombay. finance department (supply) resolution no. 518. bombay castle, 5th january 1945. endorsement from the district magistrate, sholapur, no. xix/4500, dated 8th november 1944. resolution :-government ..... lordships see no justification for drawing inferences in favour of the prosecution upon matters on which they withheld evidence under their control. under s. 114, evidence act, illust. (g) the normal presumption is that evidence which could be and is not produced would, if produced, be unfavourable to the person who withholds .....