COMMISSIONER OF INCOME-TAX, MYSORE vs LIQUIDATORS, HUBLI ELECTRICITY — 1971 PTD 949

Citation: 1971 PTD 949

Court: Mysore High Court

Year: 1970

Decision Date: 1970-12-31

Parties: COMMISSIONER OF INCOME-TAX, MYSORE vs LIQUIDATORS, HUBLI ELECTRICITY JUDGMENT

Headnotes

Case cited as 1971 PTD 949

Judgment Text

Court Name: Mysore High Court Judge(s): Ahmed Ali Khan, A. R. Somnath Iyer Title:COMMISSIONER OF INCOME-TAX, MYSORE vs LIQUIDATORS, HUBLI ELECTRICITY JUDGMENT Reported As: 1971 PTD 949 Result: award made Judgment JUDGMENT SOMNATH IYER, J.---The assessee is the Hubli Electricity Company Limited which was incorporated in the year 1924, it was supplying electricity to the city of Hubli under a licence granted under the Indian Electricity Act, 1910. By a notice issued by the Government of Bombay on January 28, 1944, that licence was revoked with effect from May 1, 1944, and under an order made by that Government on April 29, 1944 under clauses (d) and (g) of section 5 of the Indian Electricity Act, as it then stood before its amendment by Central Act XXXII of 1959, the assessee was intimated that the Government of Bombay had elected to purchase the undertaking and called upon the assessee to sell it to the Government at a price to be determined under clause (b) of section 5 of the Act and to hand over possession on May 1, 1944. When the assessee neglected to hand over possession, the Government of Bombay, by a further order made on May 3, 1944, under the Defence of India Rules, directed the assessee to hand over possession to a certain Mr. Raghavan, and Mr. Raghavan, who was an engineer of the Bombay State and who was authorised to take possession, took delivery of the under--taking on May 3, 1944. There was a controversy with respect to the compensation payable to the…

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