Ghosh It - Law Dictionary Search Results
Home Dictionary Name: ghosh itIncome-tax
Income-tax, a tax of so much in the pound of income, under five classifications, according as derived from (A) ownership of land or houses, etc., (B) occupation of land or houses, etc., (C) dividends from stocks or shares, (D) professional or trade earnings or profits, and any profit not included in the four previous classifications, and (E) official and other salaries. The Acts on this subject, dating from the Income-tax Act, 1842 (5 & 6 Vict. c. 35), which, to a great extent, repeats the phraseology of Addington's Act of 1806, are very numerous. Voluntary Easter gifts to an incumbent are assessable to income-tax, Cooper v. Blakinston, 1909 AC 104. See Chitty's Statutes, tit. 'Property Tax.'The tax in 1842, and for many years afterwards, was 7d. in the pound; in 1855,, the year of the Crime an War, it rose to 1s. 4d., and in 1918 to 6s. The Finance Act, 1907 (7 Edw. 7, c. 13), for the first time differentiated (ss. 19 et seq.) between 'earned income' and income from other sources, and...
In the opinion of Income Tax Officer
In the opinion of Income Tax Officer, The expression 'in the opinion of the Income-tax Officer' in the proviso to s. 13 of the Indian Income-tax Act, 1922, does not confer a mere discretionary power, in the context it imposes a statutory duty on the Income-tax Officer to examine in every case the method of accounting employed by the assessee and to see whether or not it has been regularly employed and to determine whether the income, profits and gains of the assessee could properly be deduced therefrom, CIT v. A. Krishnaswamy Mudaliar, AIR 1964 SC 1843: (1964) 7 SCR 776. (Income-tax Act, 1922, s. 13...
It shall be lawful
It shall be lawful, according to s. 105(1) of the Companies Act, 1913 'It shall be lawful for a company to pay a commission to any person in consideration of his subscribing' for shares in it. The words 'it shall be lawful' are enabling words. They are used in a statute when it is intended to permit something to be done which previously could not legally be done, Madanlal Fakirchand Dudhediya v. Shree Changdeo, AIR 1962 SC 1543 (1557): 1962 Supp (3) SCR 973. [Companies Act, 1913, s. 105(1)]...
As it thinks fit
As it thinks fit, the expression 'as it thinks fit' confers a very wide jurisdiction enabling it to take an entirely different view on the same set of facts. The expression 'as it thinks fit' has the same connotation, unless context otherwise indicates, 'as he deems fit' and the latter expression was interpreted by this Court in Raja Ram Mahadev Paranjype v. Aba Maruti Mali to mean to make an order in terms of the statute, an order which would give effect to a right which the Act has elsewhere conferred, Babulal Nagar v. Shree Synthetics Ltd, 1984 Supp SCC 128 (139): AIR 1984 SC 1164. [Madhya Pradesh Industrial Relations Act, 1960 (27 of 1960) s. 66]...
Pass such order as it thinks fit
Pass such order as it thinks fit, is not restricted to the passing of orders which are final in character. It is for the purposes of doing complete justice between the parties, the authority who hears the revision petition is satisfied that it is necessary to call for additional evidence, he may call for such evidence, Arbind Kumar Singh v. Nand Kishore Prasad, AIR 1968 SC 1227.The expression 'pass such order as it thinks fit' ins. 64A, as amended by the Bihar Act, is not restricted to the passing of orders which are final in character, Arbind Kumar Singh v. Nand Kishore Prasad, AIR 1968 SC 1227 (1231): (1968) 3 SCR 322. [Motor Vehicles Act, 1939, s. 64A]...
Before the institution of any suit with respect to.... of it
Before the institution of any suit with respect to.... of it, 'Before the institution of any suit with respect to the subject-matter of the agreement or any part of it' mean while no suit with respect to the subject-matter of the agreement or any part of it is pending, Ramvallabh Tibrewalla v. Dwarka Das & Co., AIR 1966 SC 402: (1966) 1 SCR 689. (Arbitration Act, 1940, s. 20)...
Considers it necessary
Considers it necessary, The words 'considers it necessary' postulate that the authority concerned has thought over the matter deliberately and with care and it has been found necessary as a result of such thinking to pass the order, Barium Chemicals Ltd. v. Sh. A.J. Rana, (1972) 1 SCC 240: AIR 1972 SC 591 (595): (1972) 2 SCR 752. [Foreign Exchange Regulation Act, (1947), s. 19(2)]...
Fly for it
Fly for it. On a criminal trial in former times it was usual after the verdict, even if not guilty, to inquire also: 'Did he fly for it ?' Forfeiture of goods followed a conviction upon such inquiry. This practice, after having been long discontinued, was generally abolished by the (English) Criminal Law Act, 1827 (7 & 8 Geo. 4, c. 28), s. 5. There is a saying, Fatetur facinus qui judicium fugit (3 Inst. 14)-'He who flies from justice confesses his guilt.'...
Income Tax Authority
Income Tax Authority, includes income tax officer, assistant appellate commissioner etc and not ITAT. I.T. Commissioner v. B.N. Bhattacharjee, AIR 1979 SC 1725 (1730). [Income-tax Act, 1961, s. 245A(i), 245C(i)]...
Make such order as it thinks fit
Make such order as it thinks fit, The words 'may make such order as it thinks fit' in the s. vest the Court with a discretion to dispose of the property in any of the three modes specified in the s. 452(1) CrPC, 1973. But the exercise of such discretion is inherently a judicial function. The choice of the mode or manner of disposal is not to be made arbitrarily, but judicially in accordance with sound principles founded on reason and justice, keeping in view the class and nature of the property and the material before it, N. Madhavan v. State of Kerala, AIR 1979 SC 1829 (1830): (1979) 4 SCC 1: (1980) 1 SCR 228. [CrPC, 1973, s. 452(1)]...
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