Profitable - Year 1956 - Judgments

Apr 24 1956 (HC)

Madura Knitting Co. Vs. Commissioner of Income-tax and Excess Profits ...

Court: Chennai

Decided on: Apr-24-1956

Reported in: AIR1957Mad488; [1956]30ITR764(Mad)

..... disregard that no doubt what item b refers to is profits obviously net profits would not be excluded by the statutory provision that other ..... firm firm bought goods from appellants and sold them at profits whether profits made by firm can be assessed as income of assessee ..... the employees to produce more goods so that the company s profits might increase these were already remunerated by way or salary .....

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Feb 02 1956 (HC)

S.R.V.G. Press Company Vs. Commissioner of Excess Profits Tax

Court: Andhra Pradesh

Decided on: Feb-02-1956

Reported in: [1956]30ITR583(AP)

..... of a different category if the assessee employs such different methods regularly and consistently the profits would have to be computed in accordance with the respective methods provided a proper ..... determination of the true profits could be arrived at dhakeshwar prasad v commissioner of income tax commissioner of income .....

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Feb 15 1956 (SC)

Firm of Bhagat Ram Mohanlal Vs. the Commissioner of Excess Profits Tax ...

Court: Supreme Court of India

Decided on: Feb-15-1956

Reported in: AIR1956SC374; [1956]29ITR521(SC); (1956)IMLJ160(SC); [1956]1SCR143

..... record the mistake according to the commissioner consisted in the excess profits tax officer failing to take into consideration the change in ..... by that section must be the record of the excess profits tax proceedings and that the records of the income tax ..... proceedings under the two acts are interdependent assessments under the excess profits tax act are subject to the special provisions of that .....

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Sep 17 1956 (HC)

V.N.M. Arunachala Nadar Vs. Commissioner of Excess Profits Tax, Madras

Court: Chennai

Decided on: Sep-17-1956

Reported in: AIR1957Mad458; [1957]32ITR222(Mad)

..... period from 28th january 1942 to 7th february 1943 the excess profits tax officer assessed arunachala s business income at rs 62 ..... should be taken into account in assessing his liability to excess profits tax for the chargeable accounting period 28th january 1942 to ..... forming the partnerships was avoidance or reduction of liability to excess profits tax 29 since the question at issue depends for its .....

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Feb 22 1956 (HC)

R. C. Rangaswamy Chetty and Bros. Vs. Commissioner of Excess Profits T ...

Court: Chennai

Decided on: Feb-22-1956

Reported in: [1957]31ITR941(Mad)

..... the firms were not genuine but bogus ones they characterised the observation of the excess profits tax officer regarding continuity of the businesses with the same constituents as rather obscure ..... previous approval of the inspecting assistant commissioner make such adjustments as respects liability to excess profits tax as he considers appropriate so as to counter act the avoidance or reduction of .....

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Mar 14 1956 (SC)

The Commissioner of Income Tax and Excess Profits Tax, Madras Vs. the ...

Court: Supreme Court of India

Decided on: Mar-14-1956

Reported in: AIR1956SC492; [1956]29ITR910b(SC); [1956]1SCR223

..... say that the cancelled agreements constituted the framework or whole structure of the assessee s profit making apparatus in the sense the agreement between the two margarine dealers concerned in van ..... say that the cancelled agreements constituted the framework or whole structure of the assessee s profit making apparatus in the sense the agreement between the two margarine dealers concerned in van .....

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Mar 14 1956 (SC)

Commissioner of Income-tax and Excess Profits Tax Madras Vs. South Ind ...

Court: Supreme Court of India

Decided on: Mar-14-1956

Reported in: [1956]29ITR910(SC)

..... one say that the canceled agreements constituted the framework or whole structure of the assessees profit making apparatus in the sense the agreement between the two margarine dealers concerned in van ..... agreements in question acquired capital assets which they could work in order to earn income profits or gains the payments received on termination of the said agreements would certainly not have .....

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Sep 17 1956 (HC)

V.N.M. Arunachala Nadar Vs. the Commissioner of Excess Profits Tax

Court: Chennai

Decided on: Sep-17-1956

Reported in: (1957)2MLJ17

..... period from 28th january 1942 to 7th february 1943 the excess profits tax officer assessed arunachala s business income at rs 62 ..... should be taken into account in assessing his liability to excess profits tax for the chargeable accounting period 28th january 1942 to ..... forming the partnerships was avoidance or reduction of liability to excess profits tax 29 since the question at issue depends for its .....

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Aug 27 1956 (HC)

Mysore Fertiliser Co., Madras Vs. Commissioner of Income-tax and Exces ...

Court: Chennai

Decided on: Aug-27-1956

Reported in: AIR1957Mad257; [1956]30ITR734(Mad)

..... are deliberately made with a view to reduce the taxable profit apart from this aspect it has been repeatedly held on ..... service agreement stipulating salary and 121 2 per cent net profits is a colourable and collusive act and a fake deliberately ..... 1922 whether tribunal justified in disallowing payment of commission of net profits to manager assessee claimed for deduction of remuneration paid to .....

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Feb 17 1956 (HC)

Jivaraj Topun and Sons Vs. Commissioner of Excess Profits Tax, Madras.

Court: Chennai

Decided on: Feb-17-1956

Reported in: AIR1956Mad475; [1956]30ITR18(Mad)

..... law this question arose out of proceedings to assess the excess profits tax the assessee was liable to pay for the chargeable ..... year and ending with 31st march and that he prepared the profit and loss statement for the chargeable accounting period in question ..... the unreported decision of this court visvanatham v commissioner of excess profits tax madras case referred no 15 of 1951 learned counsel for .....

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