-
1967 (6) TMI 46
... ... ... ... ..... one on whose death his share is deductible, does not arise. The court-fee which has to be deducted under section 50 is in respect of any property of the deceased upon which estate duty is leviable under the Act, and from that duty which is leviable, the amount which is equal to the court-fees so paid in respect of the share of the property of the deceased has to be deduct- ed. Thus, the word leviable is used in relation to that which is leviable, had there not been any provision for deduction. It is only after the various ....... + More
-
1967 (6) TMI 45
... ... ... ... ..... a candidate in a hotly contested election and had lost by a narrow margin. In any event, it is permissible to say that he should have been conscious of these provisions as he was intending to challenge the result of the election. He has told me in course of his arguments, although nothing is stated in the petition, that when his lawyer gave that advice, out of decency or courtesy he accepted the advice and decided on filing his petition on the 17th April, 1967. The explanation did not appeal to me at all. 30. For all the r....... + More
-
1967 (6) TMI 44
... ... ... ... ..... ts will be entitled to withdraw the said sum of ₹ 60,186.50 P. deposited by the Plaintiffs to the credit of this suit after payment of commission charges and other incidental costs, etc. The issues are, therefore, answered in the following way Issue No. 1 No. Issue No. 2 (a) Yes. (b) The Defendants are bound to do their parts in the contract. Issue No. 3 No. Issue No. 4 (a) No, but there was implied extension of time upto November 23, 1960. (b) November 23, 1960, is reasonable time. Issue No. 5 (a) Yes. (b) Yes. Issu....... + More
-
1967 (6) TMI 43
... ... ... ... ..... e for the maximum period of 15 days provided in that section. All that he is required to do is to satisfy himself that a good case is made out for detaining the accused in police custody in connection with investigation of the case. It may be that the offences for which the accused is now wanted by the police relate to the same case but these are altogether different offences and in a way therefore it is quite legitimate to say that it is a different case in which the complicity of the accused has been discovered and the p....... + More
-
1967 (6) TMI 42
... ... ... ... ..... cumstances may show that an order, though not expressly passed, is impliedly passed. In fact, in State of Madras v. Ramulu Naidu(1), this is what this Court observed Where an officer at the time of making an assessment order was silent about the imposition of penalty, it must be taken that the assessing authority had applied its mind but did not think it necessary to levy a penalty. That would amount to an order which may fall well within the phrase an order passed in section 32(1). If there is an order passed within the m....... + More
-
1967 (6) TMI 41
... ... ... ... ..... particles in the solution used in the process of electroplating and welding electrodes except that, in the latter case, instead of electrodes being in the form of particles, they are in the form of solid rods? These copper rods styled as electrodes are conductors of electricity and electricity is used for the purpose of heating up the pointed ends of the rods in the process of welding, so that in the very process the copper rods gradually disappear. We do not say that this phenomenon by itself entirely contributes to testi....... + More
-
1967 (6) TMI 40
... ... ... ... ..... . Here again it has been found as a fact that the assessees have entered in their accounts that these sales were effected as accommodation sales mentioning the names of the dealers from whom the supply was made to the assessees customers, and that they charged no profit. We have to read the definition of turnover and the scope of an accommodation sale as mentioned in sub-rule (c) of rule 6 in the light of the language employed. It is not permissible to import into the statute or the rule one s own ideas or notions of an ac....... + More
-
1967 (6) TMI 39
... ... ... ... ..... practised in those days. With the adoption of modern methods of processing and preservation like canning and quick-freezing, a new chapter has opened in the history of the Indian seafood Industry, about a decade ago. (page 20.) One very significant aspect of the developments during the last few years was the rapid expansion in the exports of frozen and canned seafoods in contrast with the decline in the exports of traditional items, like dried fish and dried prawns. (page 21.) 3.. There is nothing on record to show that th....... + More
-
1967 (6) TMI 38
... ... ... ... ..... or which exemption from tax is claimed, were to registered dealers. If that is the intention, the sub-rule Is innocuous. It cannot, in any sense, be read as mandatory. It should be understood only as one mode of proof of the fact that the second sales are to registered dealers. But the revenue cannot insist that the dealer is bound to produce declarations in Form C in order to qualify himself for exemption. All that the revenue can require the dealer to do is to prove that the second sales were to registered dealers and th....... + More
-
1967 (6) TMI 37
... ... ... ... ..... o give the relief to which the assessee is eligible under the law. The same view we find has been taken by the Mysore High Court in Shirahatti v. Commercial Tax Officer 1967 19 S.T.C. 306. We find, therefore, that the departmental authorities as also the Tribunal were in error in rejecting the E-I Forms on the ground that they were filed only before the Appellate Assistant Commissioner. For the revenue it is pointed out that on the view taken by it and the Tribunal it was not examined whether the E-I Forms were in order. W....... + More
-
1967 (6) TMI 36
... ... ... ... ..... rm C were defective inasmuch as they did not give the dates of registration of the out-of-State buyers. The assessee, who is the petitioner, sought to rectify the defect at the stage of the appeal before the Appellate Assistant Commissioner. But he disallowed the appeal on the ground that the letters produced were belated and he had no power to condone the delay. The further appeal of the assessee failed on the same ground, the Tribunal relying on Deputy Commissioner of Commercial Taxes v. Parekutti Hajee Sons 1962 13 S.T........ + More
-
1967 (6) TMI 35
... ... ... ... ..... ise the power only if the conditions for the exercise are not fulfilled or satisfied. Sub-rule (3) does not contemplate that unless the concerned assessee makes an application, the Commercial Tax Officer is at liberty to refuse to condone the delay, though the conditions therefor are satisfied. We are of opinion, therefore, that in so far as the Appellate Assistant Commissioner and the Board proceeded upon the view that an application to exercise the power to condone delay was necessary, they were In error. It is the duty ....... + More
-
1967 (6) TMI 34
Director – Disclosure of interest by ... ... ... ... ..... l as requiring performance by the director of his part of it. If the company chooses not to enforce it, the contract is of no effect. The consequences are the same as if the contract were voidable by the company, and indeed I do not think there is more than a verbal difference between saying that the contract is unenforceable by the director and saying that it is voidable by the company. In this case, therefore, the two contracts were only voidable, and on the facts it is conceded that....... + More
-
1967 (6) TMI 33
Custody of company’s property, Powers of official liquidator ... ... ... ... ..... amendment introduced in sub-sections (1A) and (1B) of section 456 of the Companies Act and at the same does not take away the ultimate right of this court as the liquidation court, to see that its order for possession under the winding up order is not nullified by any extraneous process or authority. I would, therefore, direct the official liquidator in ordinary and normal cases to follow the procedure prescribed in section 456(1A) of the Companies Act and in sp....... + More
-
1967 (6) TMI 20
Confiscation of vehicle ... ... ... ... ..... er unless the owner of the goods or such person - (a) is given a notice in writing informing him of the grounds on which it is proposed to confiscate the goods or to impose a penalty (b) is given an opportunity of making a representation in writing within such reasonable time as may be specified in the notice against the grounds of confiscation or imposition of penalty mentioned therein and (c) is given a reasonable opportunity of being heard in the matter Provided that the notice referred to in cl....... + More
-
1967 (6) TMI 19
Madras Agricultural Income Tax Act - sum paid as share of the net profits, to financiers in lieu of interest - allowability u/s 5(e)
-
1967 (6) TMI 18
Proceedings u/s 34(1)(b) - assessment made pursuant to the proceedings - validity - loss on sale of shares - held that it arise from a share dealing business but was a loss on realisation of investment
-
1967 (6) TMI 17
Amount was sought to be set off against certain unabsorbed speculative loss, brought forward from earlier years, on the theory that the amount of difference obtained from the Japanese company was a speculative profit - held that transaction did not fall within the meaning of speculative transaction as in Expln. 2 to the third proviso to s. 24(1) - so ITO rightly disallowed the claim
-
1967 (6) TMI 16
Expenditure incurred by the assessees in collecting proxies from the shareholders cannot be regarded as expenditure incurred for the purpose of earning directors` fees - hence allowable as a deduction under s. 12(2)
-
1967 (6) TMI 15
Notice issued u/s 34(1)(a) - limitation - ITO had no jurisdiction to issue a notice, being barred by limitation
