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1955 (9) TMI 84
... ... ... ... ..... tarwad properties. Whether the junior member did or did not claim a right during his lifetime to partition, when his proprietary interest becomes inheritable under the Muslim Personal Law (Shariat) Application Act, then, on his demise, his heirs would become automatically entitled to claim the right which has been left by him in so far as it has not been disposed of by any testamentary disposition. He would be deemed therefore to have died intestate in respect of his proprietary right or interest in the tarwad property and....... + More
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1955 (9) TMI 83
... ... ... ... ..... e into operation provided the valuation discloses a surplus and not a deficit. There is no warrant for that contention in the language of rule 3(a). When rule 3(a) refers to computing the surplus for the purpose of rule 2 it only refers to the mode of computation laid down in rule 2(b). It does not postulate that the result of the computation must be a surplus before rule 3(a) can come into play. If there is a surplus, then the surplus would be reduced by the permissible deduction under rule 3(a). If there is a deficit, th....... + More
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1955 (9) TMI 82
... ... ... ... ..... er were to be accepted, then the assessee would be in the happy position of not having to pay the penalty at all because there is no provision in law of recovering the penalty. The reason why Section 18A (9) is not mentioned in Section 47 is because, again, the Legislature has looked upon the imposing of penalty on the grounds mentioned in Section 18A(9) as the exercise of power under S. 28 and not under Section 28(1)(c), and as Section 47 provides for recovery of penalties imposed under Section 28 it was unnecessary to re....... + More
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1955 (9) TMI 81
... ... ... ... ..... o express decision of the statutory authorities have been placed before me. I have referred to the averments in the counter-affidavit of the respondent, that the petitioner has taken out licence, under the Factories Act for the remaining seven establishments also. That, however, should not in the circumstances of this case; preclude the determination afresh of the question, whether each or any of these seven establishments of the petitioner is a factory within the meaning of the Factories Act of 1948. It is open to the pet....... + More
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1955 (9) TMI 80
... ... ... ... ..... ignatures or the handwriting of Deshpande Paranjape or Jamnadas would have been enough What was in issue, however, before me was apart from Deshpande, Paranjape or Jamnadas having signed or written those documents, whether the contents of those various documents were correct This certainly could not be proved by Balkrishna Bhagwan Deshmukh who had no personal knowledge whatever about the contents of those various documents. It would have served no purpose whatever to admit those documents in evidence with the reservation a....... + More
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1955 (9) TMI 79
... ... ... ... ..... ery nature of the thing requires that a large discretion should be left to the authority. Discretion which is wide is not necessarily arbitrary. It was said that under section 233 of the Act the civil courts are debarred from enquiring into the reasonableness of the order; but that is because matters concerning revenue and settlement are within the exclusive jurisdiction of revenue courts, and under section 62 of the Act, the Board of Revenue has revisional jurisdiction over all orders passed in connection with settlement........ + More
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1955 (9) TMI 78
... ... ... ... ..... s and we cannot predicate that the 300 shares which were sold were shares other than the bonus shares, and you have to determine what the cost to the assessee was with regard to these 350 shares, and that cost can only be arrived at by averaging the cost by taking into consideration the fact that the 50 bonus shares were received free of cost. It is only by that method that the proper profit or loss can be arrived at. In is only by that therefore, by reason of the decision that we gave in Commissioner of Income-tax v. Mess....... + More
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1955 (9) TMI 77
... ... ... ... ..... ral Court in Rao Bahadur Kunwar Lal Singh v. The Central Provinces and Berar( 1944 F.C.R. 284) and in other cases referred to in Rajah of Bobbili v. The State of Madras( 1952 1 M.L.J 174, 193-194) and it was held by the Federal Court that the word acquisition occurring in section 299 had the limited meaning of actual transference of ownership and not the wide meaning of deprivation of any kind that has been given by this Court in Subodh Gopal Bose's case( 1954 B.C.R. 587) to that word acquisition appearing in article 3....... + More
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1955 (9) TMI 76
... ... ... ... ..... alled for. In my opinion, the correct view to be taken in such cases was taken in the case of 1950 18ITR194(Mad) and I would refer, in particular, to the judgment of Viswanatha Sastri J. 18. For the reasons given above, it appears to me that there were no materials in this case on which the Tribunal could properly hold that any part of the remuneration paid to Mr. Rohatgi as Managing Director was the income of the assessee family for taxing purposes. The Tribunal, it would be remembered, did not hold the whole of the remun....... + More
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1955 (9) TMI 75
... ... ... ... ..... e years immediately preceding the previous year. The reasons for introducing this fiction was that certain profits in the past years bore less tax because the company did not pay any excess dividend and it conformed to the ceiling laid down by the Legislature, but when in subsequent years the company departed from the ceiling the Legislature asked the taxing authorities to assume that what was being paid as dividend was out of those profits which had been kept back or kept in reserve. But, as we have just pointed out, this....... + More
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1955 (9) TMI 74
... ... ... ... ..... . In our opinion the two cases are not in pari materia. In the case of a Court sale the sale is effected by the Court and the Court issues a sale certificate when the sale becomes complete and the title vests in the auction purchaser. In the case of a sale by a receiver, although it may be a result of an order of the Court, it is not the order of the Court that vests the title in the purchaser. In order to vest the title in the purchaser the receiver has to execute a conveyance in favour of the purchaser and it would be th....... + More
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1955 (9) TMI 73
... ... ... ... ..... in circumstances gets exemption from payment of tax which has been assessed and which has been charged. The only ground that the Tribunal has in its judgment given for accepting the contention of the department is that the assessee was not assessable to tax by reason of section 25 (4). That, with respect, is a clearly erroneous view of the matter. The assessee was not bound to make an application under section 25 (4). He might not have made an application in which case the position would have remained the same except that ....... + More
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1955 (9) TMI 72
... ... ... ... ..... it as his dividend income. Whether rights the assessee may be entitled to by reason of the fact that subsequently he became liable to refund the dividend, those rights are outside the ambit of the particular assessment with which we are concerned. He may have relief under the Income-tax Act or he may not, but we are not concerned with the position that arose on the 4th December, 1947, which would correspond with the assessment year 1948-49. We are only concerned with the assessment year 1946-46, and as far as that assessme....... + More
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1955 (9) TMI 71
... ... ... ... ..... s brought about by the political change. In our opinion, therefore, the services of the plaintiff came to an automatic termi- nation on the emergence of Indian Dominion. The special order and arrangement affecting his case that ,%,as made in pursuance of the Viceroy's announcement resulted in his service not being continued from and after the 15th August, 1947, and the plaintiff is not entitled to the declaration prayed for. The learned Judges of the High Court in coming to the conclusion they did, have, with respect, ....... + More
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1955 (9) TMI 70
... ... ... ... ..... is that this must have proceeded from the joint family funds, and that this is implicit in the finding of the Tribunal. It is also mentioned in the judgment of the Tribunal that Krishnaswami was anxious to support his son, the present appellant, and that many of the witnesses whom the respondent was obliged to examine, were really anxious to help the appellant. (Vide para 12). We do not, however, desire to express any opinion on these contentions, as we propose to leave them to the decision of the Tribunal. 11. We accordin....... + More
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1955 (9) TMI 69
... ... ... ... ..... the benefit of the permit granted to him by R.T.A. for over four years and that he should not now be deprived of that benefit. The benefit accrued to Kesavarao by reason of successive orders obtained by him for stay of the operation of the order of the C.R.T.B. If we were quashing the order of the Government we would hold that the benefit obtained by Kesavarao as a result of the orders staying the operation of the order of the C.R.T.B., was not a benefit justly or properly obtained by him, and that that circumstance would ....... + More
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1955 (9) TMI 68
... ... ... ... ..... closed on the face of the judgment; see for example the observations in Dalip Singh v. State of Punjab( 1954 S.C.R. 145, 156) and Nar Singh v. State of Uttar Pradesh ( 1955 1 S.C.R. 238, 241). In a matter of enhancement there should not be interference when the sentence passed imposes substantial punishment. Interference is only called for when it is manifestly inadequate. In our opinion, these principles have not been observed. It is impossible to hold in the circumstances described that the Sessions Judge did not impose ....... + More
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1955 (9) TMI 67
... ... ... ... ..... the assessment year 1944-45 and the assessment year 1945-46, and the petition, as we have already pointed out in our judgment, with regard to the assessment year 1945-46 is the same as the year 1944-45. Therefore, we amend the question No. (1) by adding Whether the Tribunal erred in law regarding the sums of ₹ 2,18,669 paid to C.H. Ghanekar and ₹ 1,09,375 paid to Keshardeo Hanumanbux. We will answer the question that the Tribunal erred in law regarding the sum of ₹ 6,77,875 paid to C.H. Ghanekar, and the ....... + More
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1955 (9) TMI 66
... ... ... ... ..... was understood then, he was resident of an Indian State, the provision with regard to section 22 has no application to a non-resident. The contention is obviously untenable. It is now well settled law that the Indian Legislature has the competence to tax nonresidents and the legislation cannot be challenged on the ground of extraterritoriality. If the Legislature has the power to tax a non-resident, surely it has the power which is not of such a wide nature of making a provision for the issue of a notice which would bind a....... + More
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1955 (9) TMI 65
... ... ... ... ..... 00. This is nothing more than a mere book entry, to use the language of the Privy Council. The value put upon the shares of the new company in no way increases or decreases the real value of what Sir Homi Mehta got, and what he got was the very shares which he purported to transfer to the limited company but held through a limited company and not through himself as an individual. Ultimately the result must depend upon the view that we take as to whether Sir Homi Mehta made any profit or gain in a commercial sense by transf....... + More
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