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1962 (4) TMI 141
... ... ... ... ..... it was observed that assuming that there was no accord and satisfaction in the strict sense of the law in England, it could still be held that the creditor had ceased really to be holder of the negotiable instrument on which he sued. With the niceties of English law in the matter of accord and satisfaction we are not concerned. The position in the present case is that the appellants must have known that they could receive the second installment and retain the first installment by accepting the condition on which the sum of....... + More
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1962 (4) TMI 140
... ... ... ... ..... f s. 162, it must not merely be made during the period of investigation but also in the course of investigation. The two things, that is, the period of investigation and course of investigation are not synonymous. Section 162 is aimed at Dagduas recorded by a police officer while investigating into an offence. This is clear from the opening words s. 162. They speak only of Dagduas made to a police officer during the course of investigation. This implies that the statement sought to be excluded from evidence must be ascriba....... + More
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1962 (4) TMI 139
... ... ... ... ..... . (5) The plaintiff and her mother-in-law were in enjoyment of the property as they were enjoying it even before the execution of the document. (6) The defendant had not examined either Babu Ramnath Singh or other important witnesses who could have proved the fact that the plaintiff and her mother-in-law had the knowledge of the nature of the document. (7) The defendant managed to get this document by fraud to facilitate mutation of the property in his name. And (8) the plaintiff gave acceptable evidence in support of her ....... + More
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1962 (4) TMI 138
... ... ... ... ..... nsibility either for loss or damage during the course of transit. There is a specific condition which provides that the buyer should make all claims for damage or loss against the common carrier. Under the circumstances, the common carrier was constituted the bailee of the buyers and cot of the seller. 20. Having regard to the finding reached by us that there was no contract between the parties that the cement purchased by the several consumers, both private and public, should be delivered at a place other than factory sit....... + More
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1962 (4) TMI 137
... ... ... ... ..... corresponding portion of the paragraph of the notification based on it must be held to the ultra vires and unconstitutional. In that view of the matter, we issue a direction calling upon the first respondent to entertain the applications of the petitioners and to deal with them in accordance with law. We were told by the learned Solicitor-General that the Public Service Commission has already conducted the test in respect of a large number of candidates and amongst them, the petitioners' cases have also been considered....... + More
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1962 (4) TMI 136
... ... ... ... ..... ction as it stood during the assessment year in question. The impugned assessment was completed on March 15, 1954, which was within the period of eight years from the end of the assessment year. As such the assessment was completed within time. There is another way of looking at the matter. This is a case to which the provisions of section 28(1)(c) were held to be attracted. Under section 34(2) as it stood at the time, it was provided that in a case to which the provisions of section 28(1)(c) were attracted assessment coul....... + More
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1962 (4) TMI 135
... ... ... ... ..... riods. The salary paid to them in respect of these periods must, therefore, be held to represent the amount which they were entitled to claim by virtue of their conditions of service and such payments made to employees in respect of rights earned by them by doing work for an employer must necessarily be held to be expenditure incurred wholly and exclusively for the purpose of the business. In the circumstances, we consider that the Tribunal committed an error in disallowing the amount representing leave salary for these pe....... + More
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1962 (4) TMI 134
... ... ... ... ..... e Bank could be a judge in its own cause, was neither raised nor decided there. The decision, therefore, does not cover the present controversy. In my view, there are no real differences between Patiala Bank and other banks vis-a-vis their claims against their constituents, which could reasonably sustain the special treatment mated out to the former under the Act. Discrimination is writ large on the face of the Act. In this view, no other question arises for consideration. 69. In the result, I hold that the provisions of t....... + More
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1962 (4) TMI 133
... ... ... ... ..... im but that is an argument based on assumption. Not until an enquiry officer has been appointed and not until it is clearly known who is the punishing authority and not until the petitioner is able to make any such allegations when any one or more of such authorities is or are known can this question ever arise for consideration. It appears that this is premature. Apart from this, it has already been stated that the allegations by the petitioner are disputed and on such disputed matters of fact it is not possible to find, ....... + More
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1962 (4) TMI 132
... ... ... ... ..... pany . There was no evidence that the company had any scheme for payment of gratuities not did it pay gratuities as a matter of practice. There was nothing to show that the employees had accepted low salaries in expectation of gratuities on retirement or that gratuity was paid for the purpose of facilitating the carrying on of the business of the company or as a matter of commercial expediency. In the circumstances, it was held that the amount of gratuity was not an admissible deduction under section 10(2)(xv). The present....... + More
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1962 (4) TMI 131
... ... ... ... ..... with a view to reduce an assessment cannot be said to have been laid out or expended wholly or exclusively for purposes of the business. In S.D. Sharma v. Commissioner Of Income Tax, the expenditure incurred in the preparation of statements and accounts for Income Tax purpose and the engagement of an Income Tax consultant to satisfy the tax authorities with regard to the statements and accounts was held to be not expenditure incurred wholly and exclusively for the purpose of carrying on the business. It is not necessary to....... + More
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1962 (4) TMI 130
... ... ... ... ..... as rejected this contention. Section 26 of the Act gives protection only in respect of the full name of an individual. An abbreviated name or expanded name of the individual cannot obviously come within the terms of the Section. In Shorts Limited v. Short, 1914 31 P. P. C. 294 a company called Shorts Ltd. obtained an injunction against the defendant Greer Louise Short starting a new firm under the name of Shorts. There is therefore no substance in the contention advanced on behalf of the respondents. The result is that the....... + More
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1962 (4) TMI 129
... ... ... ... ..... s no right to any payment until the corporate body has determined that the money can properly be paid away. It is urged that this puts the preference shareholders at the mercy of the company, but the preference shareholders came in on these terms, and this argument does not carry much weight in an action such as this; when bona fides is conceded. The opposite conclusion might enable the preference shareholders to ruin the company, and would, certainly lead to great inconvenience in enabling them to compel the payment out o....... + More
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1962 (4) TMI 128
... ... ... ... ..... as we have seen above, is a new premises, though not constructed or newly constructed after the above 1956 Act. The instant case, then cannot, obviously, come under any of the clauses of the aforesaid Section 8 (1), except Clause (e), and the proviso thereto would be excluded as, obviously, the tenant's present premises would be different from the original premises and there would be no existing rent of this new premises. En this view, it will not be necessary to comment on the correctness or otherwise of the decision ....... + More
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1962 (4) TMI 127
... ... ... ... ..... hat Deoli-Kotah part of the Ajmer-Kotah route is common to Jaipur-Kotah route from Deoli to Kotah and the necessary orders for exclusion of permit-holders have been passed in connection with the Jaipur-Kotah route. The scheme with respect to that route was quashed by the High Court and the matter sent back for re-hearing the objectors in accordance with the decision of this Court in Malick Ram's case ((1962) 1 S.C.R, 978). Therefore, the question whether the permit-holders can ply on the DeoliKotah portion of the Ajmer....... + More
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1962 (4) TMI 126
... ... ... ... ..... ievance in this special appeal that the learned Single Judge has quashed the order of the State Government, dated February 8, 1960, and made orders the result of which is that either the valid order of January 17, 1959, or the order, dated March 19, 1959, to which the appellant had submitted, would now be the effective order. The effect of either of those orders is that the appellant ceases to be recognised as a lessee of this accommodation and against such a decision the appellant has no right to be heard, particularly in....... + More
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1962 (4) TMI 125
... ... ... ... ..... second case was entirely different from the business of the assessee in the first case. In the first case it was not the business of the assessee to construct ships but to use ships as an apparatus for profit-making by carrying goods and passengers. It was, therefore, that in the first case the amount of 60,000 was held to be in no way related to the carrying on of the business of the assessee. From the two cases the principle deducible is that where a receipt or an expenditure is related to the actual carrying on of the b....... + More
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1962 (4) TMI 124
... ... ... ... ..... neral Commissioners held that the sums so paid by the assessee were wholly and exclusively laid out for purposes of the business and were therefore allowable as deductions. The decision of the General Commissioners was upheld by the High Court (King's Bench Division). Here also, as in our case, the act of the assessee was voluntary and in the nature of a concession by the assessee giving up its, legal rights under the agreement for considerations of business expediency. The payment was not made to secure any direct or ....... + More
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1962 (4) TMI 123
... ... ... ... ..... lling oil quite apart from his business as a miller. This is not disputed and the assessment order clearly shows that in addition to the oil produced in the assessee's oil mill he was also selling oil purchased by him. In the background of the trade and the figures available we are inclined to agree with Mr. Sambamurti when he says It does not appear to me that the transactions in question amount to anything but genuine hedging. The quantity involved in these contracts is well within reasonable limits. It follows that ....... + More
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1962 (4) TMI 122
... ... ... ... ..... loss for the assessment year 1955-56. He carried on the same business in beedi leaves during the accounting year 1955-56, i.e., the assessment year 1956-57, though in partnership with others. Entering into partnership with another in one case and three others in the other case was only the mode of carrying on business but the business is the same business, viz., trade in beedi leaves. Section 24(2)(ii) does not require that the business should be continued to be carried on for the assessment year in question by the same co....... + More
