Court : Chennai
Reported in : (1956)2MLJ119
..... for the purpose of determining the rate payable by an assessee, though the exempted sums were themselves not liable to tax. this anomaly was redressed by the income-tax (amendment) act (xi of 1944) which by its section 8 inserted the first proviso to section 24(1). this proviso ran:provided that, where the loss sustained is a loss of ..... the loss incurred in that business. it is the profit earned by the assessee during the entirety of the accounting year from business that is the subject-matter of taxation under section 3 read with sections 6(4) and 10(1), and not that in respect of each individual transaction which results in profits a separate computation is made ..... high court in mishrimal gulabchand of beawar in re : air1950all270 . on these facts, the assessee applied under section 56(1) for the reference of the following question of law to this court and this question has been referred to us for determination:whether in view of the provisions of sections 14(2)(c) and 24(1) and its provisos .....
Tag this Judgment!Court : Chennai
Reported in : [1956]29ITR818(Mad)
..... for the purpose of determining the rate payable by an assessee, though the exempted sums were themselves not liable to tax. this anomaly was redressed by the income-tax (amendment) act (xi of 1944) which by its section 8 inserted the first proviso to section 24(i). this proviso ran :'provided that, where the loss sustained is a loss ..... the loss incurred in that business. it is the profit earned by an assessee during the entirety of the accounting year from business that is the subject-matter of taxation under section 3 read with sections 6(4) and 10(i), and not that in respect of each individual transaction which results in profits a separate computation is made ..... (2) that this loss could not be set off against the income from business in the taxable territories. the assessee applied to the tribunal to refer the questions of law to this court. the two questions which have been referred for our decision under section 66(i) are :(i) whether the loss in pepper business arose in the travancore .....
Tag this Judgment!Court : Chennai
Reported in : (1956)IILLJ347Mad
..... is specific relief by way of declaration. after discussing the nature of the opportunity to be given under section 240 of the 1935 act, their lordships in lall case 1945 f.c. 47 at 65 amended the declaration as follows:.the declaration should be varied so as to declare that the purported dismissal of the respondent on 10 august ..... was found guilty and removed from service, there was a proper, bona fide enquiry by a competent officer and the enquiry was conducted by him in accordance with law and the principles of natural justice and the plaintiff was given an adequate opportunity of defending himself in the said enquiry. therefore, the order of removal of the ..... found guilty and removed from service there was a proper and bona fide enquiry by a competent authority and that the enquiry was conducted by him in accordance with law and the principles of natural justice, that the plaintiff was given an adequate opportunity of defending himself at the said enquiry, that the order of removal of the .....
Tag this Judgment!Court : Chennai
Reported in : AIR1957Mad33; (1955)2MLJ374; [1956]7STC792(Mad)
..... that became the charging provision so far as they were concerned.in regard to unlicensed dealers, the position was that rule 5 of the general sales-tax act rules denied them the benefit of taxation at a single point. their case would not fall within rule 16(1) to 16(4) which fixed the single point in regard to licensed ..... and under sub-rule (5) of rule 16, the tax was levied at the sale point on each occasion of sale. but this sub-rule was deleted by an amendment which came into effect two days before the assessment order now impugned was passed.the argument the learned assistant government pleader submitted on behalf of the government was, however, ..... skins. (3) lastly they appear to doubt the correctness of the decision of the pull bench in : air1955mad686 (a), though they have reserved their final opinion on the law as enunciated in that case as regards the liability to tax of licensed dealers in regard to purchases from unlicensed dealers.with respect to the learned judges we are unable .....
Tag this Judgment!Court : Chennai
Reported in : (1956)2MLJ374
..... ' of the person whose turnover is liable to be taxed, fixation of the points at which the transaction is liable to taxation in respect of those commodities for which a single point taxation is provided for in the act as also for the levy and collection of the tax. the other set of rules entitled the madras general sales tax rules ..... and under sub-rule (5) of rule 16, the tax was levied at the sale point on each occasion of sale. but this sub-rule was deleted by an amendment which came into effect 2 days before the assessment order now impugned was passed. the argument the learned assistant government pleader submitted on behalf of the government was, however, ..... decline to entertain the petition. we are not prepared to uphold this objection. it is conceded that this is a matter of discretion and not any absolute rule of law that bars our jurisdiction. the questions raised are of great importance and complexity and if the point made by the assessee were upheld it would mean that rule 5 .....
Tag this Judgment!Court : Chennai
Reported in : AIR1957Mad362; [1956]7STC691(Mad)
..... prior to the constitution by reason of the extended definition of 'sale' introduced by the amending act of 1947, and which now figures as explanation (2) to section 2 (h) of the act. tax on such sales could have been lawfully levied even after the constitution came into force by virtue of the president's order dated ..... on 2-7-1952, the president promulgated the adaptation of laws (4th amendment) order, 1952, by which a new section was introduced into the madras general sales tax act, numbered as section 22 which ran: 'act not deemed to impose or authorise taxation in certain cases: nothing contained in this act shall be deemed to impose or authorise the imposition of ..... property in the goods passed outside the state, we're not within the madras-general sales tax act, read in the light of the constitution, the position was altered when section '22 was introduced by the adaptation of indian laws (4th amendment) order. as we have already indicated, the effect of section 22 was to render a sale .....
Tag this Judgment!Court : Chennai
Reported in : [1957]31ITR107(Mad)
..... a special tax on such accumulated profits in the hands of the corporation, without transcending its powers under the 16th amendment, or violating the 5th amendment.'the same position was explained by mertens in his 'the law of federal income-taxation' vol. 7, at page 325 :'the code imposes a high surtax, in addition to all other taxes under ..... india took steps later than the parliament in england to meet this kind of possible evasion of tax liability. section 23a was included in the indian income-tax act by the amending act xxi of 1930. as enacted in 1930, the relevant portions of clauses (1) and (2) of section 23a ran''(1) where the income-tax ..... year. the case, it should be remembered, was decided well before the english parliament brought the undisbursed profits of controlled companies within the net of taxation by the finance act of 1922. learned counsel for the petitioners referred to this decision in support of his contention, that undisbursed profits held by the company could not be .....
Tag this Judgment!Court : Chennai
Reported in : (1956)2MLJ518
..... special tax on such accumulated profits in the hands of the corporation, without transcending its powers under the sixteenth amendment, or violating the fifth amendment.10. the same position was explained by mertens in his 'the law of federal income taxation', volume 7, at page 325.the code imposes a high surtax, in addition to all other taxes under ..... took steps later than the parliament in england to meet this kind of possible evasion of tax liability. section 23-a was included in the indian income-tax act by the amending act xxi of 1930. as enacted in 1930, the relevant portions of clauses (1) and (2) of section 23-a ran:(1) where the income- ..... year. the case, it should be remembered, was decided well before the english parliament brought the undisbursed profits of controlled companies within the net of taxation by the finance act of 1922. learned counsel for the petitioners referred to this decision in support of his contention, that undisbursed profits held by the company could not be .....
Tag this Judgment!Court : Chennai
Reported in : AIR1957Mad133
..... levy a special tax on such accumulated profits in the hands of the corporation, without transcending its powers under the 16th amendment, or violating the 6th amendment."10. the same position was explained by mertens in his "the law of federal income taxation", vol. 7, at page 325:"the code imposes a high surtax, in addition all other taxes under chapter 1 of ..... india took steps later than the parliament in england to meet this kind of possible evasion of tax liability. section 23-a was included in the indian income tax act by the amending act xxi of 1630. as enacted in 1930, the relevant portions of clauses (1) and (2) of section 23-a ran :"(1) where the incometax officer is ..... . dunphy, 1933 ac 156 : (air 1933 pc 16) (g), and the observations of gwyer c.j. in in re, central provinces and berar sales of motor spirit and lubricants taxation act, 1938, 1939 fcr 18 : (air 1939 fc 1) (h), das j. (as he then was) observed :"it should be remembered that the problem before us is to construe .....
Tag this Judgment!Court : Chennai
Reported in : AIR1957Mad587; [1956]30ITR603(Mad)
..... separate fund to be called the life insurance fund the assets of which shall after the expiry of six months from the commencement of the insurance (amendment) act, 1946, be kept distinct and separate from all other assets of the insurer and the deposit made by the insurer in respect of life insurance business ..... it can assess the individual items of the company's investment income. this election of the crown rests upon the principle that if a statute authorises taxation under alternative methods, the selection of the alternative lies with the taxing authority...... where the profits of an assurance company in respect of its life assurance ..... than to agents and those contained in sub-item (in) (b) pre ceding). 3. travelling expense. 4. directors' fees. 5. auditors' fees. 6. medical fees. 7. law charges. 8. advertisements. 9. printing and stationary. 10. other expenses of management (accounts to be specified). 11. other payments (accounts to be specified). 12. rent for offices belonging .....
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