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1955 (8) TMI 52
... ... ... ... ..... ceptance of an offer, simply because before the completion of the formalities, another purchaser had appeared with a better offer. In the present case, however, the Appellants, on their own showing, never intended to purchase the property on the conditions on which it was actually offered for sale and in spite of the clear indication given of those conditions at the meeting of the 12th. They say that they made their offer on a different basis altogether. The Commissioner or the owners have therefore no obligation to them, ....... + More
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1955 (8) TMI 51
... ... ... ... ..... se the liability of the agent or the principal the right of a landlord where forfeiture of a lease has been committed to exact the forfeiture or to treat the former tenant as still tenant and the like. To those cases the statement of Lord Blackburn in Scarf v. Jardine (1882) L.R. 7 A.C . 345 at p. 360, applies 'where a man has an option to chose one or other of two inconsistent things when once he has made his election it cannot be retracted.' The first defendant was undoubtedly prejudiced by the election but even ....... + More
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1955 (8) TMI 50
... ... ... ... ..... re therefore not liable to be included in the assessments for those assessment years. As regards the assessment year 1948-49, the question does not seem to me to arise, because the whole of the commission amount included in the income of the relevant accounting year was earned in that very year and was not either wholly or in part accumulated or arrear commission of any previous year. As respects the last assessment year, the amount of ₹ 1,650 is referable only in part to commission which had been earned in a previou....... + More
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1955 (8) TMI 49
... ... ... ... ..... they should be allowed to withdraw the reference. There does not appear to be any provision in the Income-tax Act under which a party who has caused a reference to be made can be allowed to withdraw it after the Tribunal has made a reference to this Court. A reference made to this Court must be decided unless at least the party who had caused the reference to be made fails to appear and to take any interest in the matter. In the present case the assessees have appeared through an advocate and have brought it to our notice ....... + More
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1955 (8) TMI 48
... ... ... ... ..... due s to him from the father of the Plaintiff, while D. W 2 deposed that the debt referred to as be1ng payable to him was real. The scribe of the mortgage-bond, was examined on the side of the Defendants as D. W. 3 and he supported them. On these facts, the lower appellate Court decided that Exhibit B-l is binding upon the Plaintiff. In the course of its judgment, after discussing a portion of the evidence, it observed that the burden lay upon the Plaintiff to establish want of consideration. We are inclined to agree with ....... + More
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1955 (8) TMI 47
... ... ... ... ..... xcluded from liability for income-tax in Travancore except under certain circumstances. In the absence of a similar provision to the effect that losses incurred within British India or any other Indian State should not be taken into account in computing the income of an assessee under section 13 of the Act (section 10 of the Indian Act), there will be no justification in not deducting those losses when computing the income of the assessee. 14. We, therefore, hold that, in computing the income of the assessee, the sum of &#....... + More
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1955 (8) TMI 46
... ... ... ... ..... led and the accused were examined. 11. As we hold that there has been proper committal of the accused in respect of the offence under section 420 of the Indian Penal Code, we have the option of either to direct the learned Judge and jury to proceed with the trial in respect of the offence under section 420 read with section 34 of the Indian Penal Code or to quash the proceedings. As, however, evidence in respect of the charge under section 471 read with section 467 of the Indian Penal Code has already been led before the j....... + More
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1955 (8) TMI 45
... ... ... ... ..... m a line of succession under the Hindu law. These notions of Hindu law have not in our opinion to be imported in interpreting the words lineal descendant . The view that we are taking is further confirmed by the provision of the First Schedule to the Finance Act of 1955 dealing with the question of exemption. In the Finance Act of 1955, the words used are lineally descended from any other living member of the family not entitled to claim partition. This would clearly show that lineal descent is possible from female members....... + More
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1955 (8) TMI 44
... ... ... ... ..... was immediate performance or within a reasonable time. 7. In our opinion, therefore, with respect to the learned Judge, he was in error when he looked upon this agreement as constituting a contract for purchase or sale of shares. In our opinion, at the date when it was entered into there was no such contract and that contract only came into existence at the end of 12 months when the performance was either immediate or within a reasonable time. As the plaintiff is suing the defendant in respect of that obligation his suit i....... + More
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1955 (8) TMI 43
... ... ... ... ..... ficult, but I do not consider it impossible that it can be performed under the provisions of section 26(1) of the Income-tax Act. It appears to me to be desirable that the language of the section, as also that of the rules, should receive legislative attention. Apart from the instances of disharmony which I have noticed, the Legislature does not seem to have known very well what it would direct to be registered. Under section 26A(1) itself, what is to be registered is the firm. Under rule 2 of the rules, certain particular....... + More
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1955 (8) TMI 42
... ... ... ... ..... s own method. But in doing so he must have reference to the accounts before him as section 13 does not contemplate the rejection of the accounts. Section 13 adds nothing to and takes nothing away from section 23(3). We respectfully accept the said observations as laying down the correct law on the subject. If the Income-tax Officer intends to act under that proviso, he can adopt his own method but in doing so he must have reference to the accounts furnished by the assessee. But in this case as aforesaid the Income-tax Offi....... + More
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1955 (8) TMI 41
... ... ... ... ..... es no further, that contention will not have been properly disposed of. We can however protect the interest of the assessee only by qualifying our answer and indicating the precise point to which it is limited. What we do decide is only this, that the Tribunal was not justified in holding that the service of the notice was not sufficient service within the meaning of section 63 of the Indian Income-tax Act, merely on the finding that the notice had been served upon a brother of the assessee who had no authority to receive ....... + More
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1955 (8) TMI 40
... ... ... ... ..... hat the assessee was the owner of firm Harish Chandra Satish Chandra. The Bombay High Court, in Commissioner of Income-tax, Bombay v. Gokaldas Hukumchand, 1943 11 I.T.R. 462 had occasion to deal with a case where very similar facts were found. In that case also, firms were inter-connected and the owner of one had financed the other. In fact, in that case, there were closer associations between the assessee and the partners of the firm, the profits of which were sought to be assessed as the profits of the assessee. It was h....... + More
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1955 (8) TMI 39
... ... ... ... ..... lf to the proper question at issue, and considered whether the sums in question could fairly be taken as part of the concealed profits of the business and having considered that matter, it decided against the assessee and held that the amount should be restored as concealed profits from undisclosed sources. The question which I have so long been discussing has been referred in the following terms - Whether on the above facts and circumstances of this case, the addition of ₹ 23,563 as income from undisclosed sources i....... + More
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1955 (8) TMI 38
... ... ... ... ..... al should have given a personal hearing to the applicant. It was urged that a bearing was given by the Minister concerned, but we feel that in the absence of a rule or law to that effect the hearing by the Minister is not the same thing as the hearing by a quasi -judicial tribunal like the Rajpramukh in the present case by virtue of S. 3 of the Ordinance. We are, therefore, of opinion that as the applicant was not given a hearing by the Rajpramukh before the order in dispute was passed, we should set aside that order and d....... + More
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1955 (8) TMI 37
... ... ... ... ..... , this application succeeds in part only. The rule is therefore made absolute to this extent that a writ of mandamus is issued directing the respondents to forbear from giving effect to or take steps under the following notices (1) Notice dated 19-5-1955, issued by D. G. Banerjee to Sree S. N. Jajodia, partner of Messrs Calcutta Motor and Cycle Co., being Ex. A to the petition; (2) Notice dated 20-5-1955, issued by J. Smith to the partners of the petitioner firm, being Ex. B to the petition; and (3) Notice dated 23-5-1955,....... + More
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1955 (8) TMI 36
... ... ... ... ..... ion was led and the accused were examined. As we hold that there has been proper committal of the accused in respect of the offence under section 420 of the Indian Penal Code, we have the option of either to direct the learned Judge and jury to proceed with the trial in respect of the offence under section 420 read with section 34 of the Indian Penal Code or to quash the proceedings. As, however, evidence in respect of the charge under section 471 read with section 467 of the Indian Penal Code has already been led before t....... + More
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1955 (8) TMI 35
... ... ... ... ..... first occasion. But, for one reason or other, they were not able to substantiate the facts by placing the necessary and relevant material before the Tribunal. Section 12-A(6)(a), in our view, is not intended to give two opportunities to every assessee to establish his case before a Tribunal. It is really conceived in the interests of the assessee, who was not able to place some facts before the Tribunal at the first instance which would have made a difference in its decision. In the instant case, the petitioners sought for....... + More
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1955 (8) TMI 34
... ... ... ... ..... be substituted in place of the State of Bihar. This application for amendment has been made on the footing that the description of the petitioner in the substantive application is a mere misdescription. We cannot accept the view that the substantive application suffers from any misdescription, because the State of Bihar was entirely different from the Commissioner of Sales Tax and it cannot be said that the expression the State of Bihar was a misdescription of the authority known as the Commissioner under the Bihar Sales T....... + More
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1955 (8) TMI 33
... ... ... ... ..... ies by Canadian manufacturers or producers within the meaning of the taxing statute, and that the payments made under them constituted the sale price of goods produced or manufactured in Canada. (1) 1928 A.C. 340. (2) 108 E.R. 461. We have cited this decision only to show that, in the case of a taxing statute, we should be guided by the general scope of the enact- ment and the express provisions of the statute and not by considerations that might weigh in a case arising under the Statute of Frauds or similar statutes. For ....... + More
