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Express News Papers Ltd., a public limited company, resolved on 6 December 1962 to pay an interim dividend, payable on 16 January 1963. The Income Tax Officer reduced the rebate available under the Finance Act, 1964 for assessment year 1964‑65, treating the dividend as a reduction trigger. The …
Oswal Agro Mills Ltd. appealed against the classification of its "toilet soaps" as "other sorts" under tariff item 15(2) of the First Schedule of the Central Excise and Salt Act, 1944, which attracted a higher excise duty. The Assistant Collector had placed the soaps in the higher rate category, the …
The plaintiff sought recovery of a sum and, during trial, obtained court summons for the Income Tax Department to produce assessment records of the defendants for years 1964-65 to 1971-72. The Department produced the records in sealed covers, claiming privilege under the then‑applicable Section 137 …
K.R. Sadayappan, a film distributor, purchased a plot of land in his son's name for a total consideration of Rs.1,40,000, but his wealth statement omitted this investment and his return showed only Rs.80,000. The Income Tax Officer treated the unaccounted Rs.18,750 as undisclosed income and imposed …
