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Case Laws
Showing 141 to 160 of 216 Records
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1988 (9) TMI 78 - ITAT BOMBAY-A
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... ... ..... its for these years, the overall results of the contract should be borne in mind and the result of the contract being a loss, it was submitted that no income was assessable for these years. 12. As regards this alternative contention is concerned we do not find any discussion on this point in the order of the lower authorities, probably as the contract was not completed when appeals were decided by the CIT(A). 13. In view of the fact that the appeals for the subsequent years are also pending before the assessing authorities, and in view of the alternative contention of the assessee, we feel that it would be in the fitness of the things that a uniform decision is taken for all the years together by the CIT(A). We, therefore, send the matter back to the file of the CIT(A) to decide the matte afresh on this point, in the light of the above observations, after giving the assessee full opportunity of being heard. 14. In the result, the appeals are allowed for statistical purposes.
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1988 (9) TMI 77 - ITAT BOMBAY-A
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... ... ..... items. In fact, it was it duty of assessee to request the duty of assessee to request the ITO to issue summons to secure the presence of the creditor if the assessee was, of his own efforts, unable to secure his presence. The burden is on the assessee and duty of ITO is only to give assistance to assessee to secure presence if assessee made prayer. Considering the circumstances, we are of opinion that this is a fit case where one more opportunity should be granted to assessee to discharge the burden which lay on him. We accordingly restore the matter to the ITO with direction to give reasonable opportunity to assessee to establish identity and capacity of creditor and genuineness of transaction in respect of those items. The ITO shall issue necessary processes to secure the presence of any of the creditors if the assessee makes a request to that effect. The question shall finally decided afresh by the ITO. 14. The appeal shall be treated as allowed for statistical purposes.
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1988 (9) TMI 76 - ITAT BANGALORE
Accounting Year, Agricultural Income, Assessment Year, Earned Income, Industrial Undertaking
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1988 (9) TMI 75 - ITAT AHMEDABAD-C
Additional Depreciation, Assessment Year, Previous Year ... ... ... ... ..... o to Rule 5(1) of the Rules by taking the income of the assessee for more than 12 months for the purposes of computing its total income for the previous year under consideration and that he, in fact, did. Further, he did not also dispute that the provisions of sec. 32(1)(iia) were applicable hereto and which, indeed, he complied with by accepting assessee s claim for additional depreciation. Having once proceeded on these lines, it was not proper on his part, while working out the amount of additional depreciation , to have adopted a figure of normal depreciation different from the one arrived at by him for the purposes of section 32(1)(ii) read with Rule 5(1) along with the proviso thereto. The learned CIT(A), in our view, was, therefore, perfectly justified in accepting assessee s claim in that behalf in toto. We, therefore, confirm his order and dismiss the grounds raised in respect of this point. 13 to 15. These paras are not reproduced here as they involve minor issues.
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1988 (9) TMI 74 - ITAT AHMEDABAD-A
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... ... ..... the facts and circumstances and the decision of the Ahmedabad Tribunal relied on by the appellant, ITO is directed to allow the amount of Rs. 7,500 paid on account of membership fee of Rajpath and Sports Club . 22. The Departmental Representative in respect of this issue as well supported the order of the ITO. The learned counsel for the assessee, on the other hand, supported the order of the CIT(A) and advanced identical arguments as before the first appellate authority. 23. We have examined the rival submissions and have also given our due attention to the order of the Tribunal referred to in the order of the CIT(A). A copy of the same was in fact provided to us during the course of hearing. After going through the same, we are of the view that the CIT(A) has rightly allowed the assessee s claim and her order in this respect requires to be upheld. 24. In the result, the assessee s appeal is partly allowed for statistical purposes whereas the Revenue s appeal is dismissed.
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1988 (9) TMI 73 - ITAT AHMEDABAD-A
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... ... ..... So it has taken the benefit of reduction in its tax liability. It has also suffered a disadvantage for the future. The Supreme Court in its judgment in the case of CWT vs. Arvind Narottam has specifically repelled a similar arguments by stating that the decision in McDowell s case could not advance the case of the Revenue because the language of the deeds of settlement was plain and admitted of no ambiguity. The legal transaction being valid and effective the Supreme Court drew the logical conclusion therefrom. We must do the same in this case. The transactions of sale being genuine the conclusion that they have resulted in short term capital loss has to be drawn. Further, it is an important factor that the prices of silver at the time of the sale were falling and that the sales were at the market price. This is a commercial consideration and even on that ground the assessee is entitled to the claim of short-term capital loss. 5. In the result, all the appeals are dismissed.
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1988 (9) TMI 72 - ITAT AHMEDABAD-A
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... ... ..... laries (another priority industry). The assessee was entitled to a deduction at 8 per cent on the entire profits of the automobile parts industry included in the total income without deducting therefrom the losses in the alloy steel manufacture. 12. The above decision went in favour of the assessee but applying its ratio the same would go against the present appellant before us. In other words, the claim under s. 80J in its case would have to be examined in respect of the new unit independent and distinct from the other units. In this view of the matter, the action taken by the CIT in withdrawing the deduction under s. 80J shall stand approved. In coming to this conclusion we respectfully follow the decision of the Supreme Court. We would, however, direct that the amount in question, namely, Rs. 79,675 be carried forward and allowed to the assessee in accordance with the provisions of s. 80J(3) in the subsequent year or years. 13. In the result, the appeal is partly allowed.
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1988 (9) TMI 71 - ITAT AHMEDABAD-A
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... ... ..... ysis we would hold that the dumpers being used by the assessee in road construction work would be entitled to depreciation at the rate of 30 per cent. We accordingly set aside the consolidated order of the CIT for all the three years under consideration and restore those of the ITO. 16. Before we part with these appeals, we would like to observe that action under s. 263 should be taken after a proper perusal of the records in respect of all the items which are sought to be encompassed within the said action. It would not desirable to assume jurisdiction under s. 263 in respect of the same assessment year in respect of different items at different stages and at different points of time. This can never lend finality to an assessment order an puts an assessee to unnecessary harrassment and protracted litigation. This situation could have been clearly avoided in the assessee s case in so far as asst. yr. 1978-79 was concerned. 17. In the result all the three appeals are allowed.
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1988 (9) TMI 70 - ITAT AHMEDABAD-A
Assessment Year, Capital Employed, New Industrial Undertaking, Profits And Gains ... ... ... ... ..... e assessee was entitled to a deduction at 8 per cent on the entire profits of the automobile parts industry included in the total income without deducting therefrom the losses in the alloy steel manufacture. 12. That above decision went in favour of the assessee but applying its ratio the same would go against the present appellant before us. In other words the claim under section 80J in its case would have to be examined in respect of the new unit independent and distinct from the other units. In this view of the matter the action taken by the Commissioner of Income-tax in withdrawing the deduction under section 80J shall stand approved. In coming to this conclusion we respectfully follow the decision of the Supreme Court supra. We would however direct that the amount in question, namely, Rs. 79,675 be carried forward and allowed to the assessee in accordance with the provisions of section 80J(3) in the subsequent year or years. 13. In the result the appeal is partly allowed
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1988 (9) TMI 69 - ITAT AHMEDABAD-A
Assessment Year, Orders Prejudicial To Interests ... ... ... ... ..... ysis, we would hold that the dumpers being used by the assessee in road construction work would be entitled to depreciation at the rate of 30 per cent. We accordingly set aside the consolidated order of the CIT for all the three years under consideration and restore those of the ITO. 16. Before we part with these appeals, we would like to observe that action u/s 263 should be taken after a proper perusal of the records in respect of all the items which are sought to be encompassed within the said action. It would not be desirable to assume jurisdiction u/s 263 in respect of the same assessment year in respect of different items at different stages and at different points of time. This can never lend finality to an assessment order and puts an assessee to unnecessary harassment and protracted litigation. This situation could have been clearly avoided in the assessee s case in so far as assessment year 1978-79 was concerned. 17. In the result, all the three appeals are allowed.
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1988 (9) TMI 68 - ITAT AHMEDABAD-A
Accounting Year, Capital Loss ... ... ... ... ..... ed a disadvantage for the future. The Supreme Court in its judgment in the case of Arvind Narottam has specifically repelled a similar argument by stating that the decision in McDowell s case could not advance the case of the revenue because the language of the deeds of settlement was plain and admitted of no ambiguity. This means that the Supreme Court gave effect to a document evidencing a legal transaction. The legal transaction being valid and effective the Supreme Court drew the logical conclusion therefrom. We must do the same in this case. The transactions of sale being genuine the conclusion that they have resulted in short-term capital loss has to be drawn. Further, it is an important factor that the price of silver at the time of the sale were falling and that the sales were at the market price. This is a commercial consideration and even on that ground the assessee is entitled to the claim of short-term capital loss. 5. In the result, all the appeals are dismissed.
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1988 (9) TMI 67 - ITAT AHMEDABAD-A
Assessment Year, Charitable Purpose, Deemed Gift, Income Tax Act ... ... ... ... ..... for the subsequent period. We have not been appraised of the reasons for which these applications have not been disposed of till date although the application pertaining to the period 1-4-1976 to 31-3-1981 was made on 25-6-1978 with a subsequent reminder having been sent on 14-6-1982. Inaction on the part of the Revenue in issuing a certificate to the Sarabhai Foundation under section 80G cannot deprive the donor in this case, namely, the assessee to the rightful exemption to which it is entitled u/s. 5(1)(v). In the final analysis, we confirm the findings of the CGT (Appeals) in respect of the second issue before us. 11. As regards GTA No. 103/Ahd/1986 the same is consequential to the first appeal since it has arisen out of the rectification order passed by the GTO u/s. 34 of the GT Act. As the levy of gift-tax itself has been set aside, the decision of the CGT(A) cancelling the rectification order would have to be confirmed. 12. In the result both the appeals are dismissed
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1988 (9) TMI 66 - HIGH COURT OF JUDICATURE AT MADRAS
Import - Advance Licence ... ... ... ... ..... a similar matter this Division Bench of this Court in C.W. Nos. 7926 and 7527 (sic) of 1986, W.A. Nos. 585-586 of 1986, dated 17-8-1986 and allowed the adjudication proceedings to go on the Supreme Court by order, dated 4-9-1986 in Special Leave to Appeal (Civil) Nos. 198 and 199 of 1986, has directed that the said adjudication proceedings may not go on. Therefore, at this stage, appellant Nos. 2 to 4 have forwarded whatever materials/particular they have collected to the Controller of Imports and Exports, who could take up such proceedings/circumstances. 11.Mr M.T. Vanamamalai and Mr. Dolia have supported the contentions put forward by Mr. Thiagarajan and they claim that as on date when no violation had been committed relating to payment of customs duty, the appellant had no jurisdiction whatsoever to deal with the goods covered by a valid licence. 12.The points involved in all these appeals are identical and for reasons stated above, all the appeals are dismissed. No costs.
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1988 (9) TMI 65 - HIGH COURT AT CALCUTTA
Confiscation and Redemption Fine - Customs ... ... ... ... ..... d of remitting the case back on remand further to permit the authorities to exercise discretion, if this court finds that upon relying the facts the authorities ought to have exercised the discretion and once they have failed to exercise the discretion, this Court is well within its power to ask the authorities concerned to immediately exercise the discretion and permit the petitioner to redeem the item on payment of necessary fine. Considering this aspect of the matter the writ petition is disposed of by the following order. 8. Let a writ of mandamus issue commanding the respondents to revoke and/or cancel the orders refusing to exercise discretion and to permit the petitioner to redeem the goods on payment of fine and necessary duties. The respondents are directed to pass necessary orders permitting the petitioner to redeem the goods on payment of fine and necessary duties within three months from the date of communication of this order. There will be no order as to costs.
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1988 (9) TMI 63 - HIGH COURT OF ORISSA AT CUTTACK
Prosecution - Central Excise ... ... ... ... ..... duty paid, must accompany the goods despatched to the consignee. In the instant case, the petitioner-firm has not produced the copies of the gate passes said to have been sent along with the bills showing payment of central excise duty. No attempt was made from the side of the defence to produce the gate passes. On a consideration of the evidence of P.Ws. 1, 4 and 6, in the light of the non-production of the gate passes, both the Courts below have rightly come to the finding that excisable goods had been despatched from the factory without due payment of central excise duty. 5. Rule 225 of the Rules clearly fixes the responsibility on the petitioner, who is the Managing Director of the firm, for the non-payment of excise duty payable under the bills Exts. 2,3 and 4. 6. No substantial point of law was raised by the learned counsel for the petitioner during the course of hearing. 7. In the result, I find no merit in the revision petition and the same is accordingly dismissed.
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1988 (9) TMI 62 - HIGH COURT OF GUJARAT AT AHMEDABAD
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... ... ..... of Heading No. 85.01 or 85.02. We are not concerned with the goods described in Heading 85.02. Rotors and stators being parts suitable for use with electric motors would fall within Heading 85.03 and be liable to duty at the rate specified in column (4). Mr. Trivedi, the learned advocate for the petitioners concedes the fact that rotors and stators manufactured for use in monoblock pumps would be liable to duty under Heading 85.03 in view of the concluded controversy by the Tribunal s order of 5th April, 1988 rejecting the appeal of the petitioner in the first petition. 3. In view of the above, these petitions must succeed. The show cause notices, Annexure B and C in the first petition and Annexures B (collectively) in the other two petitions cannot survive in view of the decision of the Tribunal and must, therefore, be quashed and set aside. The rule is made absolute accordingly in each of the petitions with no order as to costs. The interim orders, however, do not survive.
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1988 (9) TMI 61 - HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYD.
REP licence - Zip fasteners ... ... ... ... ..... dered the question of the free transferability of licences under Para 183 of the Import and Export Policy of 1988-91 in regard to the zip fasteners on the merits of the case as well and I have come to the conclusion that the policy does not suffer from any illegality or irregularity of a basic nature which may result in the negation of the fundamental rights guaranteed to the Petitioner-Association under Articles 14,19(l)(g) and 21 of the Constitution of India. An objective analysis of the Policy in question leads to the conclusion that it forms an inseparable part of the overall economic policy of the Central Government which aims at the promotion of the exports from the country to a maximum level and the free transferability of REP licences in regard to zip fasteners plays a complimentary role to such an overall economic policy of the State. In this view of the matter the Writ Petition is dismissed, but, in the circumstances of the case, there will be no order as to costs.
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1988 (9) TMI 60 - HIGH COURT OF JUDICATURE AT MADRAS
Refund - Suit for recovery - Matches ... ... ... ... ..... luntary payments. The payments so made cannot be said to be made under coercion and as such they cannot be recovered. 11. None of the decisions relied upon by plaintiff could be of any avail, because under the facts and circumstances of the case, Rule 10 would have no applicability for the reasons stated above. As for Section 72 of the Contract Act, in the light of the decision of the Division Bench relied upon by the defendants, there was no element of coercion in the instant case. Rather, the payment made was not consequent to any threat, but consequent to the trade notice Ex. B-1, which did not contain any threat of coercive action that will be taken. Therefore, when the demand made was only in respect of one-third of the duty which had become payable, and the amount having become lawfully recoverable consequent to the decision of the Supreme Court dated 4-11-1974 plaintiff had no right to seek for refund as prayed for. Hence, this appeal is allowed with costs throughout.
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1988 (9) TMI 59 - HIGH COURT AT CALCUTTA
Customs - Shortlanding - Penalty for ... ... ... ... ..... ances of the case, the order passed by the Respondent Nos. 1 and 2 should be interfered with by this court and the authority concerned should be directed to consider afresh all the contentions raised by the writ petitioner and on considering all the evidence produced before the concerned authority, the concerned authority will be at liberty to pass appropriate order. The writ petition is thus allowed. The impugned orders passed by the Respondent Nos. 1 and 2 are hereby quashed. The Respondent No. 2 being the Deputy Collector of Customs shall again give a personal hearing to the petitioner and considering all the relevant evidence already produced before him by the petitioner and if further produced before him at the time of such hearing decide as to whether the petitioner satisfactorily explained the shortlanding or not and on considering of such evidence the Deputy Collector of Customs shall pass appropriate orders in accordance with law. There will be no order as to costs.
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1988 (9) TMI 58 - HIGH COURT OF JUDICATURE AT MADRAS
Revision - Review - Limitation - Proforma credit ... ... ... ... ..... no question of refunding the amount to the respondents who had not eventually paid the amount towards the fund. Doing so would virtually amount to allow the respondents unjust enrichment. Learned Counsel for the respondents, basing reliance on the above judgment, submits that on equitable principles this Court should not assist the petitioner to obtain refund because there is no possibility of the petitioner refunding the amount so collected by them to the ultimate consumers. But this judgment of the Supreme Court is distinguishable because in that case there was no provision like Section 11 B of the Central Excises Act which entitles a party to obtain refund. This being a statutory right is not defeasible of any consideration of equity. 14. In the light of the foregoing discussions, it follows that this writ petition is liable to be allowed and the same is allowed and the order of the Collector of Central Excise dated 6-2-1982 is quashed. There will be no order as to costs.
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