Court : Chennai
Reported in : (1935)69MLJ577
..... commissioners have to be satisfied that there has been an intention to evade tax before a direction can be made under section 21 of the finance act because the preamble of section 21 cannot either restrict or extend the enacting provisions in the section and that condition does not appear there.10. lord sands on page 120 says:it is quite open to the share ..... during the course of the argument to a number of english decisions upon the similar section in the english act - section 21 of the finance act of 1922 - but a distinction between the indian section and the english section has been pointed out quite properly by the assessees' learned counsel. in the english section the purpose of preventing the avoidance of tax is set out in the form .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1940Bom97
..... company ought to have deducted the tax and ought to have paid it over, and that as they had not done so they were liable to a penalty under section 33, finance act of 1924.41. it may be noticed that the last part contains the contention that although the company had not paid and was not liable to pay tax the ..... made in respect of any share, right or title thereto, and the body of persons paying such dividend shall be entitled to deduct the tax appropriate thereto.34. section 7(1), finance act, 1931, runs in the following terms:the provisions of rule 20 of the general rules, which authorize the deduction of the appropriate tax from any dividend paid by ..... the last two cases related to what is known as 'grossing up' for purposes of sur-tax, and involved the construction of rule 20 of the all schedules rules and section 7, finance act, 1931, which have no counterpart in india. scottish union and national insurance co. v. new zealand and australian land co. (1921) 1 ac 172 related to the right .....
Tag this Judgment!Court : Mumbai
Reported in : [1940]8ITR337(Bom)
..... company ought to have deducted the tax and ought to have paid it over and that as they had done so they were liable to a penalty under section 33, finance act of 1924.'it may by noticed that the last part contains the catenation that although the company the had not paid and was not liable to pay tax ..... thereof is made in respect of any shares, right or title thereto, and the body of persons paying such dividend shall be entitled to deduct the tax appropriate thereto.'section 7 (1), finance act, 1931, runs in the following terms :'the provisions of rule 20 of the general rules, which authorize the deduction of the appropriate tax from any dividend paid ..... the last two cases related to what is know as 'grossing up' for purposes of sur-tax, and involved the construction of rule 20 of the all schedules rules and section 7, finance act, 1931, which have no counterpart in india. scottish union and national insurance co. v. new zealand and australian land co. related to the right of a company to .....
Tag this Judgment!Court : Kolkata
Reported in : [1938]6ITR74(Cal)
..... material figures of income for this purpose.romer, l.j. - on this appeal the court is once more invited to consider and apply the provisions of sec. 27(1) of the finance act, 1920. as the section has been recently discussed and explained by the house of lords in the case of assam railways and trading co. v. inland revenue commissioners, it becomes ..... tax upon it; that they have also paid new zealand income tax upon it that the fact that under the new zealand act this tax is chargeable under a different section is irrelevant since all that section 27(1) of the finance act 1920, requires is that dominion tax shall have been paid and that the fact that under the new zealand statute they ..... its income namely pounds 34,779, and has proved that it has paid dominion tax in respect of the very same thing. in accordance with the plain words of sec. 27(1) of the finance act 1920, it is entitled to relief on that sum.for these reasons i am of opinion that both appeals should be allowed.greene, l.j .....
Tag this Judgment!Court : Kolkata
Reported in : [1939]7ITR630(Cal)
..... restriction upon the rights of the lessee to which the owner was not bound. this result he found in the words 'actual cost to that person' contained formerly in section 26 of the finance act, 1907, and now appearing in sub-rule (6). 'that person' quite clearly is 'the person by whom the trade is carried on' referred to above; and ..... , whether the appellants were, as they claimed, entitled to the benefit of sub-rule (2) and, secondly, whether the language used by the legislature in 1907, when by section 26 of the finance act of that year it imposed the limitation rejected by walton, j., in hall, junior & co. v. rickman, did not go much farther than the mere enactment of that ..... the taxpayers right in the tax year in question was not affected by the allowances of past years. to repeal this decision the legislature passed section 26 of the finance act, 1907 now represented by sub-rule (6) of rule 6. sub-rules (1), (2) and (5) deal severally with a business carried on by the owner of the plant .....
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 : Kolkata
Reported in : [1945]13ITR295(Cal)
..... from income-tax unless they sold goods to persons other than members. this section was repealed by the finance act, 1918, and its provisions were re-enacted in section 39 (4) of that statute. section 39 (4) was repealed by section 31 (2) of the finance act, 1933. since the year 1933 the profits of registered societies have been ..... the society but, it contends, it is not chargeable to tax.the charging section of the assam act is section 3, which provides that :-'agricultural income-tax at the rate or rates specified in the annual assam finance acts subject to the provisions of section 6 shall be charged for each financial year in accordance with, and subject ..... to, the provisions of this act on the total agricultural income of the previous year of every individual, hindu undivided or .....
Tag this Judgment!Court : Kolkata
Reported in : [1946]14ITR488(Cal)
..... transactions. in cornishs case it was held that a mutual assurance company carried on business and was assessable to corporation profits tax imposed by the english finance act, 1920; section 52(2) of that statute enacted that the profits to which the tax was applicable were the profits of a british company carrying on any trade ..... to the most business - like way of appropriating revenue to expenses. that case concerned corporation profits tax imposed by section 52 of the english finance act, 1920; the proviso to sub-section (1)(b) of the section allowed debenture interest to be deducted from the profits of a company before charging to tax. the company had two sources ..... was only payable 'after deducting from the amount of profits any interest or dividends actually paid out of those profits.' section 53 of the finance act, 1920 (see page 876), being the section showing how the profits are to be assessed on which the tax shall fall, contains an express proviso that there should not be .....
Tag this Judgment!Court : Kolkata
Reported in : [1943]11ITR393(Cal)
..... in respect of the same amount of income when received by them at the rate of thirty pies per rupee under the finance act of 1939. this income-tax amounted to rs. 11,78,937/-. section 49b of the income-tax act provides :'where a shareholder has received a dividend from a company which has paid income tax imposed in british india or ..... us. in that case the question before the court was whether part vi of the bombay finance act, 1932, as amended in 1939 was ultra vires of the local legislature. sir jamshedji kanga for the plaintiff argued (page 62) 'section 226 of the govt. of india act, 1935, should be strictly construed. it only takes away the original jurisdiction of the high ..... of rs. 57,689/- arises in this way : the dividends received by the plaintiffs from the two rupee-companies and the sterling companies were taxed to income-tax under finance act of 1938 at the rate of twenty six pies per rupee and the total of the income tax paid by the rupee companies amounted to rs. 11,06,890/-. the .....
Tag this Judgment!Court : Chennai
Reported in : (1940)2MLJ110
..... out, the extent of his recoupment depends upon the amount of the profits. i think that this is a distribution of profits within the prohibition in section 53, sub-section 2(b) of the finance act, 1920. i think it is a distribution of profits. it is a distribution of profits in recoupment of a guarantor who guaranteed those profits - guaranteed ..... and that the recoupment to the secretary of state out of the surplus profits represented a distribution of profits within the prohibition of deduction from profits in section 53(2) of the finance act, 1920, rowlatt, j., put the question this way:are the profits of the company for the purpose of corporation profits tax the amount of their ..... fund as a gratuitous and unconditional personal allowance of the holder of the lucknow see was income accruing or arising in british india and assessable as salary under section 7(1) of the act. v. g. every i.l.r. (1937) 2 cal. 327 in the matter of, the calcutta high court held that commission earned by an .....
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