plants had been constructed the contractor was
entitled to remove the surplus materials. The clause
further provided that the company shall not be liable ... from the
site their tools, tackles, machines, packing
materials, protection roof and other materials
as are surplus to the requirements of the
normal operation
that year, or
(b) the annual average of the surplus
arrived at by adjusting the surplus or deficit
disclosed by the actuarial valuation made ... transferred to the
investment reserve fund from the surplus. According to him,
the surplus of Rs. 26,45,362 shown in Form 1 required
HEADNOTE:
The appellant used to invest his cash surplus in shares and
securities and maintained an account book called Book No. 1
relating thereto. During ... surplus monies and therefore the excess
amounts received by sales were capital receipts being merely
surplus and not profits.
Held, that on the materials produced
Coffee Board by the owner of the estate for
inclusion in the surplus pool. (sub-s. 1). Delivery of
coffee must be made ... section (5) is
not material. Subsection (6) then provides as follows
"25. Surplus coffee and surplus pool
(6) When coffee has been delivered
that year, or
(b) the annual average of the surplus
arrived at by adjusting the surplus or deficit
disclosed by the actuarial valuation made ... transferred to the
investment reserve fund from the surplus. According to him,
the surplus of Rs. 26,45,362 shown in Form 1 required
Tribunal also held that the
amount entered in the account "Earned Surplus" was reserve
liable to be taken into account in assessing business ... Cases and Materials on
Corporations" by Dodd and Baker, 2nd Edn., at p. 1118 under
the head "Sources of Capital Surplus
material at all from which the Tribunal could justifiably
have inferred that the increase in production would be so.
material as to, attract the principle ... most material one,
because, if the figure of annual rehabilitation arrived at
by the Tribunal is accepted, it is clear that no surplus can
possibly
therefore amount to an
omission to disclose fully and truly any material fact.
To ascertain whether the Income-tax Officer could have had
in mind ... casual nature obviously
indicate that the assessee disclosed ,that a surplus
resulted from the sales which were also disclosed.
The assessment orders it is true
such person is a resi-
dent of the village in which the surplus land
for distribution is situate, or within five
miles thereof ... which was being used for the
purpose of producing or providing raw material
for the manufacture or production of any
goods, articles or commodities
The Automobile Transport(Rajasthan) ... vs The State Of Rajasthan And Others(And ... on 9 April
