Court : Chennai
Reported in : 84Ind.Cas.107; (1924)46MLJ505
..... for the corporation. before considering the cases it is necessary to bear in mind the distinction between an act like the income-tax act and a local or municipal act like the madras city municipal act. the object of the income-tax act is to tax all the income which a person makes or receives and it is worded so as to reach all the ..... which is outside british india. the learned chief justice remarked that even with regard to the amounts received at bellary, the firm was not assessable under the income-tax act in respect of such amounts. there are some observations in sun life assurance company v. the corporation of madras : air1922mad85 which support the contention of mr. ..... their execution by mr. robinson is not enough to justify a finding that the respondents exercised a trade within the united kingdom within the meaning of the income-tax act.' atkin, l. j., observes that canvassing for orders and supervising the successful adapting of the goods bought for the purpose of buyer's business do .....
Tag this Judgment!Court : Chennai
Reported in : (1999)154CTR(Mad)333
ordern. v. balasubramanian, j.this is a petition filed by the director of income-tax (exemptions), madras, to direct the tribunal to state a case and refer the following questions of law under s. 256(2) of the it act, 1961, (hereinafter referred to as 'the act) for the asst. yr. 1985-86. '(1) whether, on the facts and in the circumstances of the ..... case, the tribunalwas right in law in holding that the cit(a) had given a finding that the income received by the assessee from investments made after 1st june ..... to 1st june, 1973 and they are not covered by the provisions of s. 11(5) of the act. in respect of the income received by the assessee in respect of other investments, the tribunal affirmed the factual finding of the cit(a) that they were invested in banks and other approved investments. in this view of the matter, the .....
Tag this Judgment!Court : Chennai
Reported in : (1999)152CTR(Mad)214
babu, j.the proviso to section 64(l) of the income tax act, 1961 has been invoked by the assessee. while the revenue contends that the assessee is not entitled to the benefit of that proviso, the tribunal has found that the assessee, along ..... applicable to all persons who earn an income which is taxable under the act. the act does not make a distinction as between those who are educated and others who are uneducated, or, the level up to which they might have been educated, for the purpose of making the income earned by them liable to tax. the income earned by the individual for and in consideration ..... of, the services rendered by him or her is ultimately his or her income .....
Tag this Judgment!Court : Chennai
Reported in : [2005]144TAXMAN784(Mad)
..... constitution (state trading corporation v. cto air 1963 sc 1811, where the principle of liberal interpretation applies.in cit v. g. hyatt : [1971]80itr177(sc) the question was whether under section 17(3) of the income tax act, 1961, the interest on the assessees own contribution to an unrecognized provident fund could be treated as salary. the supreme ..... court of india held that the language of section 17(3) was plain and unambiguous, and hence the said amount was not salary but income from other sources and ..... years, does not mean that the relief is not in respect of a particular assessment year.18. the tribunal has rightly pointed out that in the income tax act, there are several provisions granting twin or double benefits, while in other provisions, twin or double benefits has been specifically prohibited. there is no prohibition .....
Tag this Judgment!Court : Chennai
Reported in : (2002)174CTR(Mad)460
..... to say except relying on the order of the commissioner (appeals). under the circumstances, the tribunal recorded a finding that :'some revenue receipts which are taxable under the income tax act, 1961, are camouflaged in the guise of sale proceeds of meat and cattle. in the absence of any details forthcoming from the assessee in this regard, we reverse the ..... facts and in the circumstances of the case, the tribunal is right in law in holding that the sale proceeds of cattle and meat is taxable under the income tax act particularly when the entire estate being used for agricultural operations?'2. the assessee is a tea company having a tea estate. it grows tea in that estate and ..... order of the commissioner (appeals) and restore the order of the income tax officer on this issue.'4. it is on the basis of these findings that the present question has been referred to us. we are of the clear opinion .....
Tag this Judgment!Court : Chennai
Reported in : (1971)1MLJ274
..... 809 : (1969) 78 i.t.r. 243, while construing the scope of proviso to section 12-b of the income-tax act of 1922, which brought to charge capital gains, that is gains made from sale, exchange or or transfer of capital ..... all the above revisions the scope of section 22 of the tamil nadu land reforms (fixation of ceiling on land) act, 1961, has come up for consideration and so they are dealt with together. before dealing with the common legal issue involved ..... law. in that case the supreme court considered the scope of section 35 which is similar to section 20 of the madras act lviii of 1961. the supreme court points out that there was nothing to indicate that the legislature has prohibited a contract to transfer land, ..... r. p. no. 2294 of 1965 is directed against the order of the authorised officer declaring the sales dated 27th june, 1961, and 5th october, 1961 in favour of abdul karim and balasubrahmniam respectively as void. the tribunal has found that the petitioner owned 31.65 standard acres .....
Tag this Judgment!Court : Chennai
Reported in : (2009)222CTR(Mad)270; [2009]308ITR302(Mad); [2009]183TAXMAN383(Mad)
..... is stated that the petitioner has approached the first respondent by making an application under section 245q(1) of the income-tax act, 1961 (hereinafter referred to as 'the act') seeking advance ruling of certain questions relating to the liability of capital gains tax in respect of the transfer of 15,000 equity shares held by him in the indian company, namely, m/s ..... india and the following is the operative portion of the order:this special leave petition is filed against the ruling given by the authority for advance rulings under the income-tax act.when the matter reached hearing, we raised the query as to why the petitioner has not moved the high court under article 226 of the constitution? realizing the ..... for interference in these appeals, since a wrong interpretation of a deed of trust cannot be said to be a violation of the provisions of the income-tax act. it is equally clear that the interpretation placed upon the said deeds by the commission does not bind the authorities under the .....
Tag this Judgment!Court : Chennai
Reported in : [1995]215ITR371(Mad)
..... of declaration or any other appropriate writ, order or direction declaring the provisions of section 64(1a) of the income-tax act, 1961, as amended by the finance act, 1992, as illegal, beyond the scope of preventing avoidance of tax and inconsistent with the scheme of the income-tax act and violative of articles 14, 19 and 265 of the constitution of india. since the contentions raised by the ..... in some respects, the said reasons may overlap with those given by him. 2. the question in these writ petitions is whether section 64(1a) of the income-tax act, 1961 (hereinafter referred to as 'the act'), is constitutionally valid. the attack is made both on the basis of incompetency of parliament to enact the said provision and on the basis that it offends the .....
Tag this Judgment!Court : Chennai
Reported in : [2004]122CompCas918(Mad); (2005)193CTR(Mad)318; [2004]271ITR497(Mad)
..... :'all the above decisions clearly show the power of the company court under section 446(2)(b) of the companies act, 1956, which overrides any other law more particularly section 220(2) of the income-tax act, 1961. the only restriction is that the court has to satisfy on the facts a particular case that the claim for statutory ..... interest under the income-tax act would amount to hardship, cause grave miscarriage and injury to the contributories. i have already referred to ..... 1) and ending with the day on which the amount is paid.'5. the said provisions in both the income-tax act as well as the wealth-tax act are identical. as contemplated under section 529a of the companies act, the official liquidator has to first adjudicate the claims of workmen and the dues to the secured creditors and .....
Tag this Judgment!Court : Chennai
Reported in : [1994]208ITR859(Mad)
..... the petitioner filed a return of income declaring the total income as rs. 42,430 and the same was accepted by the income-tax departmental and assessment was made under section 143(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), and for the assessment year 1987-88, the return of income was filed declaring the total income as rs. 54,010 which ..... provided for in part e of chapter iv. at the same time, the learned judges expressed the view that, however, section 133(6) of the act provides that the income-tax officer may require any person to furnish information in relation to such points or matters, or to furnish a statement of accounts and affairs as will be ..... and submit a report to the assessing authority for the purpose of chapter iv of the act. the learned judges were also of the view that section 55a of the act was inserted with the deliberate object of empowering the income-tax officer to find out the market value of capital assets for the purpose of chapter iv, .....
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