Law: Income Tax Act, 1922

Section: 16(1)(b),23(1),15,15AA,16,23

Law: Income Tax Act, 1922

Section: 16(1)(b),23(1),15,15AA,16,23

Income-tax Act, 1922 -- Section 16(1)(b) read with clause (iii) of proviso to Para A of Part I of the First Schedule to the Finance Act, 1973 -- Ceiling of the tax -- Overall restriction of 70 per cent of total income prescribed in clause (iii) of the proviso -- Whether only super tax should be taken account for applying the overall restriction of 70 per cent -- Held yes -- Whether surcharge excluded from the purview of the clause -- Held yes -- Apportionment of super tax paid by the firm -- Ratio of super tax laid down in clause (iii) -- Statutes -- Interpretation of taxing statutes -- Whether express language of the law maker and not the intendment should be looked into -- Held yes -- Whether no addition to or omission therefrom is permissible -- Held yes -- Assessment of firm -- Determination of ratio of super-tax -- Correct formula laid down (By majority) -- Taxing statute -- No room for discovering intendment of Legislature -- Construction of any provision of a taxing statute -- Cannot be controlled by consequence that may follow where language is clear and capable of only one meaning -- Duty of Court to see that as far as possible no anomalies arise as a result of interpretation -- Corresponding Sections: Income-tax Ordinance, 1979 -- Section 69(4) -- ORDER M.M. AKBAR, Accountant-Member (21-7-1976).---The appellant, who is an individual, was in receipt of income from property and share of profits in a registered firm. In the return for the charge year 1973-74 he disclosed a property income of Rs. 6400/- and the extent of his share in the registered firm of M/s. Muslim Brothers. The Income-tax Officer accepted this return under section 23(1) of the income-tax Act and determined the appellant's total income at Rs. 1,41,027/- made up of the declared property income of Rs. 6,400/- and 5% share of the firm's profits of Rs. 1,34,627/-. On this income the Income-tax officer charged income-tax-amounting to Rs. 64,521/- and surcharge of Rs. 6,452/- after observing the overall restriction of 70% provided in clause (iii) of the Proviso to para A of Part I of the First Schedule of the Finance Act, 1973. He took the appellant's share of the super-tax on the registered…

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