Court : Kerala
Reported in : [1961]42ITR494(Ker)
..... on december 31, 1950, when the account for the business of ramaswami & co. had been made, they were not according to section 2(11)(c) of the income-tax act sustained in the previous year to the assessment year, and could not be, therefore, set off against the profits earned during such a year. the appellate assistant commissioner, trivandrum ..... , therefore, untenable.'the application to refer a question to this court was dismissed by the tribunal, but it has been directed under section 66(2) of the income-tax act to state the following question :'whether on the facts and in the circumstances of the case, in the assessment upon the assessee for the assessment year 1952-53 ..... for the assessment year for 1951-52. in these circumstances the counsel for the department has rightly argued that no part of section 2(11)(c) of the income-tax act can be of assistance to the assessee. he has also relied on general commercial corporation ltd., in re, wherein it has been held that closing accounts for a .....
Tag this Judgment!Court : Kerala
Reported in : [1961]41ITR597(Ker)
..... however, had under article 226 invoked the jurisdiction of the madras high court, claiming the aforesaid correction by the appellate tribunal to be without jurisdiction as the income-tax act to ask the tribunal to correct its mistake. the learned judges found the ground urged in support of the application to be not sufficient and the decision ..... in the several years to be only rs. 22,500 whereas their total came to rs. 46,500. the department applied under section 35 of the income-tax act, claiming the mistake as sufficient justification for exercising the power to review under the section, which was allowed, resulting in dismissal of all the appeals by the ..... on it, the tribunal committed an error in holding that the proceedings were validly taken under section 34 of the indian income-tax act.'further bishan narain, j., in chiranji lal & sons v. commissioner of income-tax, has taken the same attitude and has at page 408 stated :'power under this section cannot be exercised on mere rumours .....
Tag this Judgment!Court : Kerala
Reported in : AIR1960Ker296
..... shares in the properties and the arguments of the assessees' counsel should be accepted. we think that the case is one to which section 9(3) of the indian income-tax act applies. accordingly the question referred to us is answered in the affirmative. let the aforesaid answer be sent to the department. the assessees however will not be entitled to ..... had held that the shares of the grand-children are not determined and therefore they could not take advantage of section 9(3) of the income-tax act, which reads as follows:'where properties owned by two or more persons and their respective shares are definite andascertainable, such persons shall not in respect of such ..... : 'whether as per the provisions of the deed of settlement no. 355/1121 the shares of the minors in the income from house properties, are definite and ascertainable as contemplated under s. 9(3) of the indian income-tax act?'.3. it cannot be disputed that if the donees be held to have got shares which be definite the provision of .....
Tag this Judgment!Court : Kerala
Reported in : [1961]41ITR662(Ker)
..... shares in the properties and the arguments of the assessees counsel should be accepted. we think that the case is one to which section 9(3) of the indian income-tax act applies. accordingly the question referred to us is answer be sent to the department. the assessees, however, will not be entitled to any costs as the mistake has ..... court;'whether as per the provisions of the deed of settlement no. 355/1121 the shares of the minors in the income from house properties are definite and ascertainable as contemplated under section 9(3) of the indian income-tax act ?'it cannot be disputed that if the donees be held to have got shares which be definite, the provision of section ..... had held that the shares of the grandchildren are not determined and, therefore, they could not take advantage of section 9(3) of the income-tax act, which reads as follows :'where property is owned by two or more persons and their respective shares are definite and ascertainable, such persons shall not in respect of .....
Tag this Judgment!Court : Kerala
Reported in : [1960]11STC367(Ker)
..... law. all the cases cited by the learned counsel for the petitioners arise, under the income-tax act and what they hold is that under the same law, the indian income-tax act, two different income-tax officers, who administer the same act, are not entitled to tax the same transactions on different bases. we are of the opinion that these decisions have ..... no bearing on the present question before us. under section 91 of the states re-organisation act, 1956 (central act 37 of 1956) the ..... . in support of this contention he invited our attention to several decisions under the income-tax act. we shall refer to only a few of them, for, the principle laid down by them is the same. in joti prasad agarwal and ors. v. income-tax officer (b) ward, mathura a.i.r. 1959 all. 456 the head note .....
Tag this Judgment!Court : Kerala
Reported in : [1960]11STC373(Ker)
..... stock was 754 bags of sugar and directed a composition on that basis.4. the petitioner sought a revision of the order before the deputy commissioner of agricultural income-tax and sales tax (south zone), quilon. the deputy commissioner dealt with his contention regarding the 600 bags in controversy as follows:-that the officer should not have included in ..... payment to be accepted from any dealer under this sub-section, the amount, if any, payable as surcharge on the tax payable on the sale of such goods under section 3 of the kerala surcharge on taxes act, 1957, shall also be taken into account.3. the petitioner sought to compound his liability and filed a statement on ..... such goods in his possession, custody or control immediately before the 14th day of december, 1957' were exempted from taxation under sub-section (1) of section 3 of the act.2. sub-section (4) of section 5-a provides :subject to such rules, if any, as may be made by the government in this behalf, the government .....
Tag this Judgment!Court : Kerala
Reported in : (1960)IILLJ341Ker
..... and in august 1956 stopped working the factories due to various reasons, the most important of which is stated to be the financial breakdown brought about by excessive income-tax assessment. the closure is said to have created a serious industrial unrest in the quilon area, and to have thereby caused anxiety to the state government. after negotiations ..... succeeded to no rights and obligations of a.t.k.m. & sons, ltd., cannot be impleaded to the dispute that had arisen earlier, and the state government act was ultra vires.(2) the petitioner-company is neither a successor, nor an assignee in respect of the same hjjsineaa and therefore the tribunal's direction concerning the ..... the petitioner has firstly urged that a person cannot be impleaded as a party to the labour dispute in exercise of powers under section 10(5) of the act unless the management be having some interest in the question of wages or condition of service pending adjudication before the tribunal. he has further argued that as .....
Tag this Judgment!Court : Kerala
Reported in : [1961]42ITR478(Ker)
..... holding the sale of chemicals not manufactured by the company to be covered by the memorandum of association. obviously we cannot in a reference under the income-tax act admit any document and therefore it must be taken as established in this reference that the company was doing a business in selling chemicals that the ..... , and to be trade liable to assessment.certain questions were thereafter asked to be referred to the high court and under section 113(1) of the travancore income-tax act, 1121, the following two questions have been referred :'(1) whether the transaction of sale of the raw materials along with the business, including machinery, plant and ..... ending 30 april, 1944, found the profit got by the sale of the stores and chemicals to be also assessable to income-tax, and therefore issued notice under section 25 of the travancore income-tax act to the companys liquidator on the ground of the aforesaid profits having escaped earlier assessment. the position taken by the official .....
Tag this Judgment!Court : Kerala
Reported in : AIR1960Ker329
..... fun of doing it when he had sufficient funds available for introduction into business lying idle at home'.2. an application under section 66(1) of the income-tax act having been rejected by the tribunal, the assessee came to this court, and the following two questions were directed to be referred by the division bench, and ..... rejection of the explanation was proper; for the legal position after the explanation be rejected has now been clarified by several decisions. in govindaraiulu mudaliar v. commr. of income-tax. : [1958]34itr807(sc) , venkatarama aiyyar, j., has held that where an assesses fails to prove satisfactorily the source and nature of certain amounts of cash ..... in law when there be no evidence to support it, or if it be perverse. again it has been affirmed in omar salay mohammed sait v. commissioner of income-tax : [1959]37itr151(sc) that the conclusions reached by such tribunal should not be coloured by any irrelevant considerations or matters of prejudice, and if there are .....
Tag this Judgment!Court : Kerala
Reported in : AIR1961Ker117
..... petition was under article 32 of the constitution questioning the validity of the transfer of certain income-tax files and the subsequent assessment orders passed in those cases. the ground that was taken was that section 5(7-a) of the income-tax act was ultra vires of the constitution as infringing the fundamental rights enshrined in article 14 and ..... asserted their alleged rights, the amritsar group on 20th april 1956, and the raichur group on 5th november 1956. if they acquiesced in the jurisdiction of the income-tax officers, to whom their cases were transferred, they were certainly not entitled to invoke the jurisdiction of this court under article 32, it is well settled that ..... it is that none of the petitioners raised any objection to their cases being transferred in the manner stated above and in fact submitted to the jurisdiction of the income-tax officers to whom their cases had been transferred. it was only after our decision in ridi supply co. v. union of india, 1956 scr 267: ((s .....
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