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The Sholapur Spinning and Weaving Co. Ltd. Vs. Pandharinath Martand Su ...

Court : Mumbai

Reported in : AIR1928Bom341; (1928)30BOMLR893; 113Ind.Cas.148

..... examined. the learned subordinate judge believed dattatraya (exhibit 71), one of the owners of respondent no. 1 firm. he is a graduate and a respectable trader and paying income-tax of rs. 4,500. the lower appellate court did not rely upon the evidence of witnesses exhibits 80 and 81, who were cited to prove that the sale-deed ..... property to respondent no. 1 and on march 1, 1923, they presented a petition in insolvency. the creditors impeached the sale under section 53 of the provincial insolvency act.14. the first glass subordinate judge held that the sale-deed was taken in good faith, for valuable consideration and not by way of preference. on appeal the ..... creditor makes this second appeal.15. the principal contention on behalf of the appellant is that the lower courts have mixed up sections 53 and 54, provincial insolvency act, and have applied to this case the provisions which apply to cases of preference under section 54 and not those which apply to transfers under section 53. it .....

Levene Vs. Inland Revenue

Court : House of Lords

..... be held to be ordinarily resident here, appears to me to be without substance. the expression "ordinary residence" is found in the income tax act of 1806 and occurs again and again in the later income tax acts, where it is contrasted with usual or occasional or temporary residence; and i think that it connotes residence in a place with ..... 35. i do not attempt to give any definition of the word "resident." in my opinion it has no technical or special meaning for the purposes of the income tax act. "ordinarily resident" also seems to me to have no such technical or special meaning. in particular it is in my opinion impossible to restrict its connotation to ..... something about a matter which was much discussed during the argument - namely, the meaning of the word "reside" and the expression "ordinarily reside" as used in the income tax act. 7. my lords, the word "reside" is a familiar english word and is defined in the oxford english dictionary as meaning "to dwell permanently or for a .....

The Commissioner of Income Tax Vs. Bombay Trust Corporation Ltd.

Court : Mumbai

Reported in : AIR1928Bom448; (1928)30BOMLR1172; 113Ind.Cas.593

..... make a return, and that on failure to do so he may be properly assessed by the inland revenue commissioners under the english income-tax act. as to whether that decision would apply to our indian income-tax act i say nothing.11. i now turn to the second question, and this is the one which involves the real difficulty in the ..... amounts to rs. 18,79,321. at the request of the assessee the commissioner referred certain questions for our opinion under section 66(2) of the indian income-tax act xi of 1922. those questions are stated in paragraph 7 of the commissioner's reference. he was of opinion that the interest received by the hougkong trust corporation ..... trust corporation limited (whom i will call 'the hongkong company'). having regard to section 3 and the definition of 'previous year' in section 2(11) of the indian income-tax act 1922, the profits assessed are alleged profits for the years ending march 31, 1925, and march 31, 1926, respectively.2. the crown claims that the bombay company has .....

Muthuswami Kavundan and ors. Vs. Ponnayya Kavundan and ors.

Court : Chennai

Reported in : 110Ind.Cas.613; (1928)55MLJ436

..... to see how she can keep the bulls and claim credit for the repayment of the loan.7. having regard to the income of the estate and the position in life of the parties we think the subordinate judge was right in holding that only rs ..... a court can give is a personal decree against the defendant for money had and received as section 69 of the contract act does not give any higher remedy. if that remedy is barred owing to plaintiff's delay he cannot extend the period of ..... when the land revenue code does not give a charge did not entitle plaintiff to a charge and that article 132 of the limitation act did not apply. i may also refer to gopala aiyangar v. mummachi reddiar (1922) 17 l.w. 254 where spencer, j ..... 160 their lordships of the privy council held that a person in possession under a decree which was subsequently reversed is entitled to recover taxes paid by him during the time he is possessor from the defendants in whose favour the decree was ultimately made. their lordships reversed the .....

The Commissoner of Income-tax, Bombay Vs. the Remington Typewriter Com ...

Court : Mumbai

Reported in : AIR1928Bom465; (1928)30BOMLR1190; 113Ind.Cas.602

..... the remington typewriter company (bombay) limited (whom i will call 'the bombay company '), have been assessed under section 42(1) of the indian income-tax act, 1922, as agents of the remington typewriter company of new york (whom i will call 'the american company'), for the years 1925-26 and 1926-27 in ..... , i would direct that the costs of the bombay company be paid by the commissioner to be taxed by the taxing officer, original side, as on the original side scale.kemp, j.this is a reference under section 66(2) of the indian income-tax act xi of 1922 at the instance of the remington typewriter company (bombay) limited, whom i shall ..... call remington (bombay). the commissioner regarded the facts as involving the interpretation of sections 42(1) and 43 of the act. the reference arises out of the assessment to tax and super-tax of remington (bombay) for the .....

The Commissioner of Income-tax Vs. A.L.S.P.P.L. Subramanian Chettiar a ...

Court : Chennai

Reported in : AIR1928Mad923; 110Ind.Cas.889; (1928)55MLJ416

..... meaning which should be ascribed to the expression 'capital borrowed for the purposes of the business' in section 10, clause 2 (iii) of the indian income-tax act. it was argued by the learned vakil for the commissioner that any sum of money which a partner puts into the business of a firm for being used as ..... open to the commissioner to find that there was no genuine borrowing of capital. i agree that the present case falls under section 10(2)(iii) of the indian income-tax act.beasley, j.i agree and make the same reservation as wallace, j.tiruvenkatachariar, j.1. the answer to the question referred to the full bench depends upon the ..... these two amounts of interest paid to the partners for sums advanced by them should be deducted in estimating the amount on which the partnership should be assessed for income-tax under section 10(2)(iii). the assistant commissioner held that the whole of the additional sums advanced by the partners must be regarded really as the capital of .....

In Re: Harmukhrai Dulichand

Court : Kolkata

Reported in : AIR1928Cal587,114Ind.Cas.90

..... answer to the first question.7. the second question depends upon the construction to be put upon sections 22 and 23 of the income-tax act. by section 22 provision is made to the effect, in the case of companies, that the principal officer shall before 15th june in ..... referred two points of law to this court for its opinion under section 66, income-tax act (11 of 1922). before setting out the form of the question it may be as well to ..... previous year. that provision which enables the income-tax officer to require the production of accounts or documents' is in the case of persons other than companies a power given on condition ..... notice requiring him. on a date, to be therein specified, to produce, or cause to be produced, such accounts or documents as the income-tax officer may require provided that he shall not require the production of any accounts relating to a period more then three years prior to the .....

Untermyer Vs. Anderson

Court : US Supreme Court

..... 1918, february 24, 1919, c. 18, 40 stat. 1057, 1058, applied to incomes for the year 1918. later revenue acts have been similarly retroactive with respect to the income tax: act of november 23, 1921, c. 136, 42 stat. 227; act of june 2, 1924, c. 234, 43 stat. 253, 254; act of february 26, 1926, c. 27, 44 stat. 9, 10. [ footnote 2 ] the practice applies ..... v. malley, 265 u. s. 144 , 265 u. s. 164 . each of the fifteen income tax acts adopted from time to time during that last 67 years has been retroactive in that it applied to income earned prior to the passage of the act, during the calendar year. [ footnote 1 ] the act of october page 276 u. s. 448 3, 1913, c. 16, 38 stat. 114 ..... , 5 & 6 geo. 5, c. 89, 1-12, retroactive to dates in september, 1915; act of july 29, 1927, 17 & 18 geo. 5, c. 10, retroactive to april 12, 1927; (b) as to income tax, act of june 22, 1842, 5 & 6 vict., c. 35, retroactive to april 5, 1842; acts of may 12 and june 16, 1854, 17 & 18 vict., cc. 10, 24, retroactive .....

Heiner Vs. Tindle

Court : US Supreme Court

..... . certiorari, 275 u.s. 514, to a judgment of the circuit court of appeals which reversed a judgment for the collector in an action to recover money paid as income taxes. mr. justice stone delivered the opinion of the court. before 1892, the late philander c. knox built a dwelling house in pittsburgh at a total cost for land and ..... $73,000. the fair market value of the property on march 1, 1913, was $120,000. its value in 1901 does not appear. in his income tax return for 1920, he deducted from gross income the difference between the selling price of the property and its march 1, 1913, value, less depreciation from that date to the date of sale. the ..... the third circuit ( tindle v. heiner, 18 f.2d 452). page 276 u. s. 584 the tax was assessed under the revenue act of 1918, c. 18, 40 stat. 1057. section 214 specifies deductions which may be made from gross income in computing the tax, and subsection (a)5 permits the deduction of "losses sustained during the taxable year and not compensated for .....

Nigro Vs. United States

Court : US Supreme Court

..... dealer, $6, and for a physician administering the narcotic, $3. the amendment also imposes an excise tax of one cent an ounce on the sale of the drug. thus, the income from the tax for the government becomes substantial. under the narcotic act as now amended, the tax amounts to about $1,000,000 a year, and since the amendment in 1919 it has benefited ..... the treasury to the extent of nearly $9,000,000. if there was doubt as to the character of this act as an alleged subterfuge, it .....