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Case Laws
Showing 141 to 160 of 440 Records
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2003 (2) TMI 421 - ITAT MUMBAI
Deductions - Profits and gains from industrial undertaking, etc., engaged in infrastructure development, etc.
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2003 (2) TMI 420 - ITAT DELHI
Method of accounting - Rejection of accounts ... ... ... ... ..... to Ground No. 2 of the appeal wherein the CIT(A) has deleted an addition of Rs. 1.50 lakhs on account of purchases claimed to have been made by the assessee. At the time of hearing of the appeal on this ground we put across to the ld. AR for the assessee to point out the discussion of the CIT(A) on this issue and the basis for deletion because of the fact that the parties to whom the purchases have been claimed to have been made had denied any connection or any transaction with M/s. Satyam Industries or with the appellant. To this the ld. AR very fairly conceded that he has no objection if the issue is restored to the file of the Assessing Officer for fresh adjudication to which suggestion the ld. DR had also no objection. In this view of the matter Ground No. 2 is restored to file of the CIT(A) who will examine the issue afresh after giving the parties an opportunity of hearing. 10. With the aforesaid observations the appeal of the Revenue is partly allowed, for statistics.
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2003 (2) TMI 419 - ITAT MUMBAI
Business expenditure, Business disallowance - Cash payment exceeding prescribed limits ... ... ... ... ..... 42 to 45 of the paper book). The gross profit rates are also reasonable. No proceedings have been initiated by the Gold Control Authorities for any irregularities. Taking all these into account, we are of the view that the disallowances were rightly deleted by the CIT(A). We confirm his order for the assessment years 1984-85 to 1986-87 and dismiss the appeals filed by the Department. 8. For the assessment year 1989-90, the dispute relates to the expenditure of Rs. 42,930 incurred by the assessee on a 1979 model car. The details of the expenditure have been given at page 5 of the paper book. It appears from the nature and quantum of expenditure that though the repairs were substantial, they only restore the car to its original shape and condition. The CIT(A) was, therefore, right in holding that the expenditure was only revenue expenditure. We confirm his order and dismiss the appeal filed by the Department. 9. In the result, all the appeals filed by the Revenue are dismissed.
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2003 (2) TMI 418 - ITAT DELHI
Business expenditure ... ... ... ... ..... d. rsquo s case (supra). In this case, the assessee claimed travelling expenses on foreign tour of the Director as well as his wife who was also a Director. The Court upheld the finding of the Tribunal that the wife of the Director who travel with him was also a Director of the Company and the expenditure incurred on her tour relates to business of the assessee company. The case again has been decided on the basis of its own facts and does not help the case of the assessee before us. 11. For the aforesaid reasons, we held that the foreign tour of the wife of the assessee was not in any manner connected with the professional activities of the assessee and represented merely personal expenditure which does not qualify for deduction under section 37(1). So the disallowance of 50 of the expenditure, i.e., an amount of Rs. 2,38,280 sustained by the ld. CIT(A) is, therefore, in order and no interference on our part is called for. The appeal of the assessee is, therefore, dismissed.
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2003 (2) TMI 417 - ITAT AGRA
Penalty - For failure to comply with section 269SS ... ... ... ... ..... rsquo and used the word lsquo accept rsquo with reference to the word lsquo deposit rsquo . The legislature has also defined the words lsquo loan or deposit rsquo as lsquo loan or deposit of on money rsquo . This clearly shows that this section can be applied only where money passes from one person to another by way of lsquo loan or deposit rsquo . This provision cannot therefore, be applied where the money does not pass from one person to another but the debt is acknowledged by passing entry in the books of account, depending upon the facts of the case. If the contention of the learned Departmental Representative is accepted, then, it may result in absurdity. 11. Thus, we are of the view that there has been no violation of provisions of section 269SS by the assessee by making the transfer entries from one account to another account through journal entry in its books. We, therefore, uphold the order passed by the CIT(A). 12. In the result, appeal of the Revenue is dismissed.
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2003 (2) TMI 416 - CEGAT, MUMBAI
Embroidery - Processed embroidery - Dutiability of - Words and Phrases ... ... ... ... ..... r being article of textiles used for ornamentation or decoration purposes. The Commissioner has also noted that HSN Explanatory Notes are silent on the question as to whether embroidery are fabrics or not. Instead, Notes describe various types of embroidery i.e. embroidery without visible ground and other. Thus, the scheme of Central Excise Tariff and HSN is to treat embroidery as separate from fabrics. 9. emsp In view of the aforesaid scheme of Central Excise Tariff the words used in Tariff headings under Chapter 58, the language of Chapter Note 8 itself and the general parlance understanding of embroidery as separate from fabrics, the assessees rsquo contention that note 8 does not apply to embroidery merits acceptance. 10. emsp For the reasons stated above, the appeals of the assessee succeed and the appeal of the Revenue fails. Accordingly, appeal numbers E/1145-1146/2000-Mum of M/s. Dora Processors are allowed and appeal number E/603-R/97-Mum. of the Revenue is rejected.
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2003 (2) TMI 415 - GUJARAT HIGH COURT
Commissioner of Income-tax (Appeals) directing to tax the income derived by the assessee from house property as 'income from business', as against the same assessed as ‘income from house property’ by the Assessing Officer - Revenue has not brought anything on record that the assessee is the owner of the property in question. So, it is difficult to believe that the assessee is earning income from the property as far as this income is concerned - we uphold the order of the Commissioner of Income-tax (Appeals) - No referable question of law arises
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2003 (2) TMI 414 - CEGAT, NEW DELHI
Service Tax – Rectification of mistake ... ... ... ... ..... herefore, prayed that this is a mistake apparent from the record which requires rectification and it may be ordered that the Service Tax is not required to be recovered again. We have also heard Mrs. Krishna Mishra, learned Senior Departmental Representative. 3. We have considered the submissions of both the sides. We observe that no mistake has crept in the Final Order as the Tribunal has only held that the Applicants were liable to pay the Service Tax and the same had been rightly demanded from them inasmuch as the refund had been sanctioned and the proceedings had been initiated against the Applicants to reject the refund claim in view of the validation of the provisions relating to imposition of Service Tax on the user of the Services. The Appeals filed by the Applicants against withdrawing the sanction of Service Tax were dismissed. As such there is no error on the face of the record in the Final Order passed by the Tribunal. Accordingly, the ROM application is rejected.
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2003 (2) TMI 413 - HIGH COURT OF MADRAS
Winding up – Circumstances in which a company may be would up ... ... ... ... ..... the amount through the Debts Recovery Tribunal. The petitioner-bank is only a secured creditor and there is no material to show that the security is also diluted. When the alternative remedy is available to the petitioner-bank, it can proceed before the Tribunal for recovery of the amount and I am of the view that it is not just and equitable to wind up the company. If the company petition is admitted and publication is effected, naturally the major lenders, who had agreed for rehabilitation, also would be affected and the workers in the company also would be very much affected. It is not a fit case to admit the company petition and ultimately make the working company as a closed one. Hence, I am of the view that the petitioner-bank has not made out a prima facie case for admission of the company petition and the points are answered accordingly. For the reasons stated above, the company petition fails and is dismissed. No costs. Consequently, C.A. No. 1145 of 2001 is closed.
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2003 (2) TMI 412 - HIGH COURT OF DELHI
Winding up - Company when deemed unable to pay its debts ... ... ... ... ..... Comp Cas 835 1994 2 Comp L J 50 (SC) in which the observation in Amalgamated Commercial Traders ( P.) Ltd. v. A. C. K. Krishnaswami 1965 35 Comp Cas 456 (SC) and Madhusudan Gordhandas and Co. v. Madhu Woollen Industries (P.) Ltd. 1972 42 Comp Cas 125 (SC) has been paraphrased. Proposition (vi) is derived from Civil Appeal No. 720 of 1999 arising out of SLP (C) No. 14096 of 1998 mdash Nishal Enterprises v. Apte Amalgamation Ltd. decided on February 5, 1999. Proposition (vii) has been formulated by Justice Vikramajit Sen. In my view the analogy derived from principles underlying Order 18 of the CPC is apposite and is an acceptable test which ought to be employed in winding up proceedings. I therefore respectfully concur with the view taken in the above judgment by Yikramajit Sen J. Accordingly, I am satisfied that there are bona fide disputed questions of facts not amenable to adjudication under the winding up jurisdiction of this court. Accordingly this petition is dismissed.
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2003 (2) TMI 411 - HIGH COURT OF MADRAS
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... ent sent a reply pointing out the defects in the two bearings. They also called upon the petitioner for replacement of the two bearings and thereafter only, they can pay the balance amount of Rs. 18,929.77. If it is not replaced, they are not liable to pay the amount. This categorical reply sent by the respondent-company would go a long way to establish that the dispute raised by the respondent is a bona fide one and now, the non-payment of the amount cannot be made use of as a lever by the petitioner to invoke the provisions of the Companies Act, to wind up the company. I am of the view that the petitioner has not made out a prima facie case and the points are answered against the petitioner. 10. For the reasons stated above, the company petition is, devoid of any merit and, accordingly, it is dismissed. No costs. It is open to the petitioner to move the appropriate civil court for recovery of the amount after proving the claim. Consequently, C.A. No. 2151 of 1997 is closed.
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2003 (2) TMI 410 - CEGAT, MUMBAI
Demand - Appeal - Accountal of goods ... ... ... ... ..... ng the rejected goods. No arguments have put fourth before us to fault this finding of the Commissioner. 8. emsp The ground in the appeal that the transaction of reprocessing is not revealed in the Balance Sheet is a ground not raised in the show cause notice. Regarding non entry of receipt of rejected materials and replacement without duty payment in the RT 12 returns, we accept the submission of the respondents that entries were not made when rejected goods were returned without duty paying documents but entries were made of those quantities of rejected material returned along with duty paying documents for reprocessing. 9. emsp In the light of the above, we reject the ground raised in the appeal before us that goods manufactured and cleared by the Respondents were not returned for reprocessing but that goods were cleared without payment of duty. Accordingly we uphold the impugned order in so far as it relates to dropping of demand of Rs. 86, 63,496/- and reject the appeal.
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2003 (2) TMI 409 - CEGAT, NEW DELHI
Rectification of Mistake ... ... ... ... ..... original authority has been upheld by the lower appellate authority. There is no evidence on record to dislodge this finding. Therefore, it has to be held that the entire credit mentioned above was taken on the strength of invoices which did not bear the mark ldquo duplicate for transporter rdquo and it was not possible to ascertain whether the proper and valid duty-paying documents had been utilized by the assessee for availing the credit. Therefore, the credit of Rs. 66,595/- appears to have been correctly denied by the authorities below. rdquo 5. emsp The following further consequential amendment is also hereby made in para-2 of the Final Order - For the words and figures ldquo the appeal relating to the Modvat credit of Rs. 66,595/- is allowed rdquo , the words and figures ldquo the appeal relating to Modvat credit of Rs. 66,595/- is rejected rdquo shall be substituted. 6. emsp Final Order No. A/372/2002-NB (SM), dated 7-3-2002 stands amended as above and will be so read.
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2003 (2) TMI 408 - CEGAT, KOLKATA
Exemption subject to expansion - Installation capacity ... ... ... ... ..... f installed capacity of weaving section. Weaving section, being an integral part of process of manufacture, the non-expansion in the said section will not entitle the respondents to claim the benefit of the notification. We do not agree with the above contention of the Revenue. The Tribunal vide its order No. A-1228-1230 2003 (154) E.L.T. 230 (T) in the case of CCE, Shillong v. M/s. Monabari Tea Estate has held that there is nothing in the notification to suggest that there should be an increase in each and every section of the manufacturing unit. If there is overall increase of 25 the same would meet the conditions of notifications. We find that the Revenue has not disputed the fact that there is an overall increase of 25 in the manufacturing unit of the Respondents. As such even if the weaving section has not increased its installed capacity, the benefit cannot be denied to the respondents. As such we do not find any merits in the Revenue rsquo s appeal and reject the same.
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2003 (2) TMI 407 - CEGAT, NEW DELHI
Refund claim - Maintainability - Appeal before Commissioner (Appeals) - Refund claim ... ... ... ... ..... he learned Counsel has no doubt heavily relied on the ratio of the law laid down in the above referred case that no new legal point could not be taken up by the lower appellate authority when it did not arise out of the order-in-original, appealed against before him. But this ratio of law is not at all attracted to the facts of the present case, in the light of the discussion made above. The legal issue regarding the maintainability of the refund claim of the appellants arose out of the order-in-original which was appealed against by the Revenue and the Commissioner (Appeals) had rightly gone into that issue and decided the matter. 10. emsp The impugned order having been passed by the Commissioner (Appeals) in consonance and conformity with the Apex Court decision in M/s. Flock (India) Ltd. (supra) is perfectly valid and does not suffer from any legal infirmity or illegality. The said order is, therefore, upheld. The appeal of the appellants is dismissed, being without merit.
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2003 (2) TMI 406 - CEGAT, MUMBAI
Demand - Short-levy - Evidence - Reply to another notice ... ... ... ... ..... He says that he has evidence in the form of certificate issued by cost accountant to the Commissioner (Appeals) to show that the position on the basis of which the Commissioner came to his conclusion in 1998 with regard to the earlier show cause notice no longer holds good. The earlier pricing pattern has drastically changed. 4. emsp The order of the Commissioner (Appeals) is silent as to the certificate of any cost accountant. In these circumstances, we are of the view that the matter should go back to the Deputy Commissioner for adjudication. It is well to keep in mind the decision of the Supreme Court in GTC Industries Ltd. v. CCE - 1997 (94) E.L.T. 9 holding that the Deputy Commissioner could not rely, while adjudicating on the notice issued to the appellant in 1998-99 on submissions that were made in the reply to another notice issued in 1986. Each notice is limited to the case made out therein. 5. emsp The appeal is accordingly allowed and the impugned order set aside.
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2003 (2) TMI 405 - CEGAT, NEW DELHI
Notification No. 154/86-Cus. ... ... ... ... ..... operated cross-slide for flat Broach Grinder. rdquo 8. emsp Appellants produced the catalogue of the machine imported by them which shows that machine can work up to the maximum length of 1500 mm and maximum dia. of 150 mm. on a work piece, whereas the notification covers the machines which are for grinding up to 250 mm diameter and 2500 mm length. The machine in question can do the only grinding up to 1500 mm. 9. emsp Further, we find that the notification covers the machines which should be equipped with Hydraulically operated cross-slide for flat Broach Grinder. The pamphlet produced by the appellants does not show that machine imported by them is equipped with Hydraulically operated cross-slide for flat Broach Grinder. In these circumstances, we find that the machine imported by the appellants is not covered by the Entry No. 60 of the Notification No. 154/86-Cus., dated 1-3-86. 10. emsp In view of the above discussion, we find no merit in the appeal, the same is rejected.
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2003 (2) TMI 404 - CEGAT, MUMBAI
Tooth powder/paste - Vicco Vajradanti tooth powder/paste - Cream - Vicco Turmeric cream ... ... ... ... ..... o under protest. rdquo 27. emsp The manner in which the paragraph is worded does not make it a charge in the show cause notice. 28. emsp The Deputy Commissioner in paragraph 64 of his Order-in- Original confirmed the classification as alleged in the show cause notice. The Commissioner in his order-in-appeal in paragraph 11 records that the Departmental Representative before him had urged for classification under Heading 3003.39 for the contested products as ldquo other medicines rdquo . In his findings however, he passed no orders on the submissions. 29. emsp Thus for the second time in these proceedings an absolutely new classification is being canvassed which classification was neither alleged in the show cause notice nor was dealt with by the original or the appellate authority. 30. emsp In the light of the Supreme Court judgments cited above, we are not required to go into alternate classification at this stage. 31. emsp In the result the appeal from Revenue is dismissed.
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2003 (2) TMI 403 - HIGH COURT OF DELHI
Interim measures, etc., by Court ... ... ... ... ..... fic Relief Act relied upon by Ms. Singh are not attracted for the simple reason that the contract itself prohibits the claim of grant of compensation. A distinction must be drawn between a termination and determination. The present contract was determinable in the context of the Specific Relief Act on the expiry of three years. It could be terminated prior thereto but as has been laid down by the Hon rsquo ble Supreme Court, where this power is to be employed by the State, it should be founded and predicated on good and expressed reasons and it should be unbiased. After the expiry of two and a half years of the contract nothing new has crept up to sufficiently justify its precipitated termination. 9. In these circumstances, the prayers contained in the petition are allowed and the DTC is restrained from taking down or defacing the advertisements portrayed on the back, side panels and inside panels of the DTC buses. 10. Petition is allowed. There shall be no order as to costs.
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2003 (2) TMI 402 - HIGH COURT OF BOMBAY
Dishonour of cheques for insufficiency, etc., of funds in account ... ... ... ... ..... e said period of six months or not. When such is a sensitive situation he has to take a prudent decision and has to react well in advance. Otherwise, he has to either thank himself or blame himself. 7. The Supreme Court judgment is recent judgment. That could not have come to the notice of the Magistrate who issued the notice and, therefore, he landed in error of issuing the process and deciding to conduct the trial against the petitioners. The said orders happened to be illegal and, therefore, they need to be quashed by exercising the jurisdiction and authority of this Court in view of section 482 of the Criminal Procedure Code, 1973 and Articles 226 and 227 of the Constitution of India. Thus, both the writ petitions are allowed and the orders assailed by those petitions are hereby quashed. The petitioners are exonerated from those prosecutions. They need not attend the court in respect of the summons if at all issued to them. No order as to costs. Rule stands made absolute.
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