Case Laws |
Home Case Index All Cases Income Tax Section Wise 1970 1970 (12) This
|
Advanced Search Options
Case Laws
Showing 41 to 60 of 75 Records
-
1970 (12) TMI 42
Winding up - Power of registrar to strike defunct company off register ... ... ... ... ..... the provisoto the subsection clearly indicate that a personal representative of a deceased shareholder is entitled to present a petition and that the word contributory in this sub- section must therefore be construed in a way so as to extend to such a personal representative That seems to have been the view taken by Wynn- Parry J. in H. L. Bolton Engineering Ltd. rsquo s case (supra) Again Wynn-Parry J. said, at p. 582 In construing this section -that is to say, section 215 (1)- it should be borne in mind that the right of a personal representative of a deceased shareholder to present a petition is expressly given by section 224. On those grounds I am satisfied that the petitioner here is a person who is entitled to petition for both forms of relief asked for on the petition. The case is one in which I think it is proper for me to grant such relief and accordingly I will order the name of the company to be restored to the register and the company to be wound up by the court.
-
1970 (12) TMI 34
Manufacture - Medicines ... ... ... ... ..... in order to be bought and sold in the market in case of the patent and proprietary medicine there must be labelling and such labelling is, therefore, manufacture. Quite apart from that question independent of the Drugs Act and independent of sub-clause (iii) of Section 2(f) of the Central Excises Act, 1944. I am of the opinion that in view of the peculiar nature of the patent and proprietary medicines labelling is a process incidental to or ancillary to the completion of manufacture of that product. From that point of view in any opinion the imposition of levy in this case was valid. Unlabelled medicines are not and cannot be described as patent and proprietary medicine. Mr. Dutta s second contention therefore fails. 8.In the view I have taken this application must fail and is hereby dismissed. The Rule Nisi issued is discharged. The interim order, if any, is hereby vacated. There will be no orders as to costs. 9.The operation of this order is stayed upto 22nd January, 1971.
-
1970 (12) TMI 33
Whether a person should first be treated as an agent of a non-resident by an order under section 163 of the Income-tax Act, 1961, before a notice under section 148 can be validly issued against him – Held, yes - mere fact, that the assessee made a return in protest, would not be sufficient to make the assessment legal
-
1970 (12) TMI 32
Expenditure on repairs and modernization of cinema house by the lessee – replacement of old wooden chairs by steel ones - expenditure brought into existence an asset of an enduring nature – therefore, amount spent should be treated as capital expenditure
-
1970 (12) TMI 31
Reconstitution of the firm - Whether there was merely a change in the constitution of the partnership of the firm, and, therefore, they were not entitled to the relief under section 25(4) of the Income-tax Act 1922
-
1970 (12) TMI 30
Whether the leasehold right of the assessees in respect of the lands in question with the right to win mica mine therefrom constitutes an asset within the meaning of the Wealth-tax Act - Whether the assessees are entitled to exemption from wealth-tax u/s 2(e)(v) in respect of the leasehold interest in the Mica Mine
-
1970 (12) TMI 29
Rebate for export - application under section 154 claiming rebate on the turnover pertaining to exports to foreign countries and the commission transactions handled on commission basis
-
1970 (12) TMI 28
Assessee claimed allowance for a sum of on account of travelling expenses of its managing director, incurred in respect of two foreign tours undertaken by him in connection with the business of the assessee-company - merely because the Managing Director had gone abroad to study the conditions of manufacturing in factories similar to the one of the assessee does not necessarily mean that the expenditure was of revenue nature
-
1970 (12) TMI 27
Interpretation of section 297(2)(a) of the Income-tax Act, 1961 - validity of assessment wrongly made under Income-tax Act, 1961 instead of under the Indian Income-tax Act, 1922
-
1970 (12) TMI 26
Acquisition of the shares of another transport company to eliminate competition - since assessee was not a dealer in shares, acquisition was not for carrying of assessee's business, therefore, loss in the sale of shares should be treated as capital loss
-
1970 (12) TMI 25
Agricultural income - partition between father and minor sons - evidence of separate cultivation of the lands - mere fact of joint living or joint cultivation would not display the fact of partition - income of the two minor sons is not to be included in the income of the assessee
-
1970 (12) TMI 24
Trust - properties dedicated to family deity - assessability of income from property - assessment of trustees
-
1970 (12) TMI 23
Land requisitioned by the Government - whether the land belonging to the-applicant are 'agricultural lands' within the meaning of section 2(e)(i) of the Wealth-tax Act, 1957
-
1970 (12) TMI 22
Assessee is a co-operative society - change of previous year by the assessee - aproval from ITO is necessary
-
1970 (12) TMI 21
Export and internal business - entitlement of export profit rebate ... ... ... ... ..... Rs. 96,690. Further deductions, if necessary, will have to be made on this amount as envisaged by sub-rule (3) of rule 2 of the Rules. But this part of the case is unimportant because, apparently, there is no further deduction to be made and the question referred to us only poses as alternatives as to whether it should be Rs. 2,01,107 or Rs. 96,690. We are of the view that it must be Rs. 96,690. We, therefore, answer the question referred to us by stating that the deduction permissible under section 2(5) of the Act must be calculated on the sum of Rs. 96,690 which will be the qualifying income for that purpose as envisaged by sub-rule (1) of rule 2 of the Rules. This income-tax referred case is answered as above. We direct the parties to bear their respective costs. A copy of this judgment under the seal of the High Court and the signature of the Registrar will be sent to the Appellate Tribunal as required by sub-section (1) of section 260 of the Indian Income-tax Act, 1961.
-
1970 (12) TMI 20
Interest paid by partners to firm on money borrowed - partners are not entitled to claim deduction towards amount paid as interest from their share income
-
1970 (12) TMI 19
Registering transfer of immovable property - provision of section 230A of Income-tax Act. 1961, requiring certificate from Income-tax Officer for registering, are applicable only to cases of voluntary transfers
-
1970 (12) TMI 18
Whether the amount paid on account of professional tax was allowable as a deduction in the assessee's assessment
-
1970 (12) TMI 17
Whether the loss suffered by the assessee due to the breach of contract could be allowed as deduction- assessee also filed suit against the buyer for the recovery of loss
-
1970 (12) TMI 16
Whether distribution of assets among the partners in species on the dissolution of the firm amounts to sale or transfer within the meaning of section 10(2)(vib) of the Indian Income-tax Act, 1922/section 34(3)(b) of the Income-tax Act, 1961
|
|