Court : Mumbai
Reported in : (1948)50BOMLR643
..... branch 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 incident ..... plaint that the appellant had turned him out of the business in september, 1936, and had not allowed him since then to take any part in it.2. there is now no question that the family was a joint hindu family.3. the respondent, who was born in 1891 and married in 1912, resided in the appellant's house ..... for joint possession.5. it is common ground that the appellant inherited nothing and 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. .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR320
..... 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 ..... will be entitled during the lifetime of the settlors or either of them to the income of the property set out in schedules 'd,' 'e' and 'f.' clause 2, therefore, refers only to the possibility of all the three children surviving the settlors; and provides that after the death of the survivor the three children will respectively become entitled ..... to the properties mentioned in schedules 'd,' 'e' and 'f.' clause 2, to my mind, does not deal with the contingency of the death of any of these three children during the lifetime of the settlors or either of them; and, .....
Tag this Judgment!Court : Mumbai
Reported in : [1948]16ITR301(Bom)
..... 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 ..... will be entitled during the lifetime of the settlors or either of them to the income of the property set out in schedules 'd', 'e' and 'f'. clause 2, therefore, refers only to the possibility of all the tree children surviving the settlors; and provides that after the death of the survivor the three children will respectively become ..... them pay the interest and income of the investments mentioned in schedules 'd', 'e' and 'f' to the trust deed to freny, phiroz and feroza respectively. clause 2 of the deed provides that after the death of the survivor of them the settlors the trustees shall hold the investments mentioned in these three schedules absolutely for the said .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR328
..... in the chargeable accounting period from business as defined in section 2(5) of the excess profits tax act. the assessee's contention was that the business fell under section 12 of the indian income-tax act being profits and gains from other sources, and, therefore, the excess profits tax act had no application to this income, and the question of law that ..... 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 ..... the rents received by the company were profits of a business. it was held that they were not and that they were investments within the meaning of the english finance act. the true ratio of this case is that to the extent of two-thirds, the land had ceased to be a commercial asset to the assessee. he then .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1949Bom39; [1948]16ITR165(Bom)
..... that water is supplied outside the city of bombay to government and other individuals it is under the power conferred upon the commissioner under section 288 of the act.the first question that arises is whether in supplying water to government tank other persons outside the limits of the city of bombay the municipality is doing any ..... trade or business is an appertain from which income or profits can be derived. that operation must have certain method and continuity about it and there can be no doubt that the municipality has been deriving income from supplying water to government and other individuals outside the city of bombay. therefore, this oppression of the municipality must ..... the income of local authorities. but the exemption does not apply to the income of local authorities if (1) that is derived from a trade or business, (2) that income arises from the supply of commodity or services and (3) if the supply of the commodity or service is outside the jurisdictional area of the local .....
Tag this Judgment!Court : Mumbai
Reported in : (1948)50BOMLR326
..... contention is that the surplus of receipt over expenditure with regard to this supply is exempt from income-tax under section 4(3)(iii) of the indian income-tax act.2. now, sub-section (3) of section 4 contains various kinds of incomes which are not to be included in the total income of the person receiving it ..... or business is an operation from which income or profits can be derived. that operation must have certain method and continuity about it, and there can be no doubt that the municipality has been deriving income from supplying water to government and other individuals outside the city of bombay. therefore, this operation of the municipality must ..... be characterised as the carrying on of a trade or business. there is no doubt that the income arises from the supply of a commodity or service because the municipality as the local authority supplies water to government and other individuals.5. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1949Bom12; [1948]16ITR98(Bom)
..... no application to this income, and the question of law that has been submitted to us is whether in the circumstances of the case the assessees income of rs. 20,005 is profits from business within the meaning of section 2 (5) of the excess profits tax act and therefore or otherwise liable to pay excess profits tax.the point really lies ..... the 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 ..... whether the rents received by the company were profits of a business. it was held that they were not and that they were investments within the meaning of the english finance act. the true ratio of this case is that to the extent of two-thirds, the land had ceased to be a commercial asset to the assessee. he then determined .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1950Bom4; (1949)51BOMLR602
..... to us that the proper court-fees payable on the present memorandum of appeal would be those required by article 17, clause (vii) of schedule ii, court-fees act.3. besides, we see no difference in principle between an appeal preferred by a plaintiff and that by a defendant. the plaints in partition suits always seek partition of the properties ..... 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 refund of the court-fees ..... treating it as such, we hold that the proper court-fees payable on the memorandum of appeal would be under the present amendment provisions of schedule ii, article 17, clause (vii), court-fees act, rs. 18-12-0, we accordingly direct that a certificate should be issued in favour of the appellant authorising him to claim a refund of .....
Tag this Judgment!Court : Mumbai
Reported in : (1949)51BOMLR287
..... answered the first question in the affirmative.patanjali sastri, j.as i agree with my learned brothers with regard to the answers which they propose to make to questions nos. 2 to 6, i do not think it necessary to encumber this judgment with a restatement of the facts giving rise to this reference. i will accordingly refer to them ..... him on so much of the capital borrowed by him for business purposes as was represented by the agricultural lands, under section 10(2)(iii) of the indian income-tax act, 1922.82. the facts of this case bear no analogy to the facts of the present case. my brother patanjali sastri, who in that case represented the commissioner of income-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 .....
Tag this Judgment!Court : Mumbai
Reported in : (1949)51BOMLR333
..... words as may be aptly described as terms of art, it is unnecessary to travel beyond the act for the purpose of construing them. item 42 of list ii deals with taxes on 'lands and buildings, hearths and windows'. there are no words in the act to suggest that the tax is to be paid only by the occupier and not by the owner ..... spent 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 of property is ..... 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. section 22 of that .....
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