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1 - 3 of 3 (0.24 seconds)Commissioner Of Income-Tax, West ... vs Bhim Chandra Ghosh on 16 March, 1956
Etymological the word "share" comes from the word "shear" which means a piece hewn out to cut or torn away. Following the etymological meaning and accepting the aforesaid dictionary meaning, in our opinion, in the context in which the word has been used in the first proviso to section 41(1), the word "shares" means and includes a specific, definite part or portion of the income of the property. But it seems to us that the answer to the question of law raised would really depend on the other aspect of the matter, namely, whether the specified amounts allotted to the beneficiaries are indeterminate or unknown. From the analysis of the relevant provisions of the deed of endowment as stated above, it appears that the fixed sum payable to the beneficiaries may be variable in different years indifferent situations. Therefore, it cannot be said that the respective shares of the beneficiaries are determinate and known. Dr. Pal has referred to Commissioner of Income-tax v. Bhim Chandra Ghosh and the Official Trustee of West Bengal v. Commissioner of Income-tax. Both there cases do not give material assistance inasmuch as they do not deal with the second part of the first proviso to section 41(1) and, as such, we do not intend to discuss them at length.
The Official Trustee Of West Bengal vs Commissioner Of Income-Tax, West ... on 29 May, 1953
Etymological the word "share" comes from the word "shear" which means a piece hewn out to cut or torn away. Following the etymological meaning and accepting the aforesaid dictionary meaning, in our opinion, in the context in which the word has been used in the first proviso to section 41(1), the word "shares" means and includes a specific, definite part or portion of the income of the property. But it seems to us that the answer to the question of law raised would really depend on the other aspect of the matter, namely, whether the specified amounts allotted to the beneficiaries are indeterminate or unknown. From the analysis of the relevant provisions of the deed of endowment as stated above, it appears that the fixed sum payable to the beneficiaries may be variable in different years indifferent situations. Therefore, it cannot be said that the respective shares of the beneficiaries are determinate and known. Dr. Pal has referred to Commissioner of Income-tax v. Bhim Chandra Ghosh and the Official Trustee of West Bengal v. Commissioner of Income-tax. Both there cases do not give material assistance inasmuch as they do not deal with the second part of the first proviso to section 41(1) and, as such, we do not intend to discuss them at length.
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