|
Advanced Search Options
Case Laws
Showing 221 to 240 of 339 Records
-
1996 (11) TMI 129 - CEGAT, NEW DELHI
Classification ... ... ... ... ..... life. It is the functional character of the article which identifies it in his mind. In the case of a glass mirror, the consumer recalls primarily the reflective function of the article more than anything else. It is a mirror, an article which reflects images. It is referred to as a glass mirror only because the word glass is descriptive of the mirror in that glass has been used as a medium for manufacturing the mirror. rdquo 5. emsp In the present case also the mental association of a person who orders lens would not be with glass but it would be with a projector. The Learned Collector in our opinion was totally wrong in describing the mounted projector lens as an article made of glass. His act of denying of benefit of Notification was based on this erroneous interpretation. In our opinion at the material time, the benefit of the cited Notification was available, we therefore, allow the appeals, set aside the Collector rsquo s orders and direct consequential relief, if any.
-
1996 (11) TMI 128 - CEGAT, NEW DELHI
Import - OGL ... ... ... ... ..... anufactured by them and cannot be used as such in the condition in which they are imported. They require further processing. Hence they do not satisfy the condition of consumer durables. 5. emsp I find that the lower Appellate authority has relied upon the definition of Part rsquo and Component rsquo as contained in para 7(10) and 7(29) of the Import and Export Policy 1992-97 to hold that the imported items are neither components nor parts. She has not considered the argument that the items imported do not conform to the definition in the Policy of consumer goods/consumer durables. 6. emsp In the light of the above finding that the imported Fountain Submersible Pumps do not satisfy the description of consumer goods as they require further processing before use, they are to be held eligible for import under OGL and do not require licence for their import. The impugned order is therefore, set aside and the appeal allowed with consequential relief, if any, due to the appellants.
-
1996 (11) TMI 127 - CEGAT, NEW DELHI
Classification ... ... ... ... ..... ating to classification only to finished products i.e. quartz analog watches, and not to components. We have perused Tribunal rsquo s order in the case of M/s. Bharat Earth Movers Ltd., Madras v. Collector of Customs, Madras - 1987 (31) E.L.T. 112A 1984 ECR 2055 (CEGAT). The Tribunal held that the parts of any article falling under headings refer to the article and not its parts to fall under specified headings for the parts to qualify for exemption rsquo . Ld. DR also argued that if these are considered as watch movements in CKD conditions then the import under Appendix 2(B) is not permissible. We find that this was not a ground raised in the proceedings and proceedings for short levy under Section 28 of Customs Act were in respect of three impugned items i.e. Rotor, Stator and Coil. 8. emsp In the result, for the reasons mentioned herein before, we allow the appeals and set aside the impugned order with consequential relief to the appellants, if any, in accordance with law.
-
1996 (11) TMI 126 - CEGAT, NEW DELHI
Seals - Interpretation of statute ... ... ... ... ..... cent ad valorem Notification No. 155/86-C.E., dated 1-3-1986 as amended by Notifications No. 277/86-C.E., dated 24-4-1986 and No. 365/86-C.E., dated 29-7-1986. . 6. emsp It will be seen from Serial No. 1 relating to Heading 84.13 and Table to the Notification which refers to description of goods, there is no mention of any ldquo component part rdquo of power driven pumps. On the other hand, it would be observed that against Sl. No. 5 relating to Heading 84.22 there is a specific mention of ldquo parts rdquo under sub-item (iii) of Column (3). It will be obvious from this that while granting exemption for ldquo power driven pumps rdquo the Central Government had no intention to include ldquo parts rdquo of power driven pumps for the concessional rate of duty allowed under the Notification. 7. emsp In view of the above, we find no infirmity in the impugned order. The appeal is without merit. We, therefore, have no hesitation in rejecting the present appeal. Ordered accordingly.
-
1996 (11) TMI 119 - CEGAT, NEW DELHI
Stay/Dispensation of pre-deposit ... ... ... ... ..... The Commissioner had dealt with this aspect in his order and on this prima facie stage it is not possible to go into detail which is possible only when the matter comes up for final hearing. 8. emsp We have also taken note of the fact that the Tribunal rsquo s two stay orders referred to above had been confirmed by the Delhi High Court as in- formed by the Learned SDR during the course of hearing of the stay application. 9. emsp Taking all the relevant considerations into account we order that if the applicant pre-deposits a sum of Rs. 25 lacs within a period of 8 weeks from today then the pre-deposit of the rest of the duty amount and the full penalty amount shall be waived. If the appellants fail to deposit the sum of Rs. 25 lacs as ordered above within the period stipulated i.e. 8 weeks from today then this stay order shall be automatically vacated and the appeal shall be liable to be dismissed. The matter is posted for 20-12-1996 for noting compliance and further orders.
-
1996 (11) TMI 118 - CEGAT, NEW DELHI
Modvat - Deemed credit ... ... ... ... ..... under sub-heading 72.12. Thus we find that Government of India Order dated 12.5.1986 does not allow taking credit as deemed Modvat credit if the item does not qualify for both things namely it must be sheets of thickness 5 mm and also falling under sub-heading 72.12. Examining the evidence on record we find that none of the products (strips, skelp and coils) are sheets and therefore even if some or anyone falls under sub-heading 72.12 credit at a rate of Rs. 500/- per MT shall not be applicable to these products. No financial hardship was claimed nor any evidence in support of the financial hardship was placed before us. In the result we direct the applicants to deposit 1,07,000/- within 8 weeks from today. On compliance of this order recovery of the balance amount of duty shall remain stayed during the pendency of appeal. In case of failure to comply with this order the appeal shall be liable to dismissal without further notice. To come for reporting compliance on 10-1-1997.
-
1996 (11) TMI 115 - ITAT PUNE
Applied To, Assessing Officer, Assessment Year, Business Income, Business Loss, Entertainment Expenditure, Export Business, Income From Other Sources, Income Tax, Interest On Income, Investment Allowance, Profits And Gains Of Business, Sale Proceeds
-
1996 (11) TMI 112 - ITAT INDORE
Assessing Officer, Assessment Year, Capital Expenditure, Export Business, Revenue Expenditure, Set Off
-
1996 (11) TMI 111 - ITAT GAUHATI
... ...
... ... ..... paid in full, obtained possession and were being used. The claim of the assessee was disallowed by the AO for identical reason as in the preceding assessment year. 15. On appeal, the CIT(A) by following the appellate order of his predecessor in respect of asst. yr. 1987-88 confirmed the order of the AO. 16. We have heard the rival parties. We have also considered the issue and the paper book filed by the assessee-company. We find that the claim of the assessee has to be allowed on this point, by respectfully following the order of the Tribunal, Gauhati Bench, in the assessee s own case in, ITA No. 564 (Gau) of 1990, dt. 14th Jan., 1993, in respect of the asst. yr. 1987-88 where at paras 5 to 7 the issue was discussed and the claim of the assessee was allowed. We have gone through the aforesaid appellate order to which we fully agree. Respectfully following the said appellate order, the appeal on this point is allowed. 17. In the result, the appeal by the assessee is allowed.
-
1996 (11) TMI 110 - ITAT DELHI-E
Assessment Year, Business Receipt, Co-operative Society, Electricity Charges, Expenses Incurred Wholly And Exclusively For, Mutual Association, Supreme Court
-
1996 (11) TMI 109 - ITAT DELHI-E
Assessing Officer, Assessment Year, Charitable Or Religious Trust, Registered Society ... ... ... ... ..... the application of income. Thus on the facts of the case it is held that there is no violation of section 13(1)(d) of the Act and the amount as given to Mahila Haat would constitute application of the income. Thus the assessee s appeal is allowed on both the grounds. 4. As regards computation of income as per revised statement filed, we find that the same has not been considered by the learned CIT (Appeals). Therefore, we would restore the matter back to the file of the CIT (Appeals) for reconsideration of the same. On the aforesaid issue, the matter stands restored to the file of the CIT (Appeals). 5. Coming to the chargeability of interest under section 139(8) and 217 of the Act, the same has also not been considered by the learned CIT (Appeals) though specifically raised by the assessee in its grounds of appeal. On this matter too, we would restore the matter back to the file of the CIT (Appeals) for adjudication of the issue. In the result, the appeal is allowed in part.
-
1996 (11) TMI 108 - ITAT DELHI-D
Assessment Year, Supreme Court ... ... ... ... ..... ble net wealth. There is no reason why without any change, the decision of Nawab Sir Mir Usman Ali Khan s case would not govern such a situation. By applying above Explanation I to the case in hand, the revenue is not deciding the matter in conformity with provisions of section 40 and doing what is specifically prohibited under clause (b) of sub-section (5) referred to above. The provisions of Wealth-tax Act have been applied otherwise than in conformity with provisions of section 40 of Finance Act, 1983. As the land and properties did not belong to the assessee, their value could not be charged to tax under section 40. Sub-clause (b) of sub-section (5) thus, support the case of the assessee instead of going against it. For the aforesaid reasons. We accept arguments advanced on behalf of the assessee and hold that building and land possessed by the assessee cannot be charged to tax under section 40 of Finance Act, 1983. 8. In the result, the appeal of the assessee is allowed.
-
1996 (11) TMI 107 - ITAT DELHI-D
Assessment Year, Foreign Currency, Mercantile System, Previous Year, Raw Material ... ... ... ... ..... ental Representative are clearly distinguishable as these pertain to the question of capital expenditure and the treatment to be given on fluctuation in exchange rates of currency. 20. In the final analysis, we allow the claim made by the assessee, there being no dispute raised on the quantum. We would, however, give two directions to the assessing officer -- (1) In the year of remittance in case the assessee derives any benefit and the ultimate liability is reduced then the same would be brought to tax under section 41(1) and (2) In case any part of the raw-material purchased still remains with the assessee then a suitable adjustment would have to be made in the valuation of closing stock to be carried over to the subsequent period. 21. We would also like to clarify that by the present judgment we have not decided the reverse situation, i.e., when the liability is reduced consequent to devaluation. 22 to 27. These paras are not reproduced here, as they involve minor issues.
-
1996 (11) TMI 106 - ITAT DELHI-D
Assessment Year, Tribunal's Order ... ... ... ... ..... DEL/1990. We once again asked theId.counsel as to whether any application had been filed before the Tribunal seeking a recall of the ex parte order but the learned counsel categorically stated once again that the said order had been accepted by the assessee and they were not going to seek a recall of the order. 4. We had refixed the appeal strictly in the interest of justice although nothing prevented us from passing an order at the first instance when the assessee sought to withdraw the appeal by means of a written communication signed by its partner and counter-signed by the Advocate who was holding a valid power of attorney and which has been filed before the Tribunal. In the rehearing the likely implications of such a decision have been pointed out to the learned counsel but as already stated by us above he does not wish to retract the earlier request for withdrawal. In this view of the matter, we allow the appeal to be withdrawn. 5. In the result, the appeal is dismissed
-
1996 (11) TMI 105 - ITAT DELHI-B
Assessment Year, Religious Trust ... ... ... ... ..... ector has participated in the profit to the extent of 50 of the income of the Trust and it has not been shown by the assessee-trust it has been utilised or appropriated towards the expansion and development of the hospital or to start any other institution with the same philanthropic objects. Therefore, the philanthropic objective is frustrated. 11. In view of above discussion, we are of the opinion that the exemption under section 10(22A) was rightly refused by the Commissioner of Income-tax. 12. The next question arises whether depreciation under section 35(1)(iv) of the Income-tax Act should be granted to the assessee-trust. Since we are of the opinion that exemption under section 10(22A) or 11 of the Income-tax Act is not available to the assessee, the assessee will be entitled to claim depreciation under section 35(1)(iv) of the Income-tax Act. Accordingly, we direct the Assessing Officer to allow the same. 13. In the result, the appeal of the assessee is partly allowed.
-
1996 (11) TMI 104 - ITAT DELHI
... ...
... ... ..... scribe by rules the books of accounts and other documents to be kept and maintained and the particulars to be contained therein and the form and the manner in which and the place at which such books of accounts shall be kept and maintained. The Board has not yet prescribed any rule so far as persons deriving income from business are concerned. It has only prescribed r. 6F requiring the persons deriving income from profession to maintain the specified books of accounts. Since the Board has not prescribed the necessary rules relating to maintenance of accounts by the persons carrying on business, and as the assessee has furnished adequate information, so as to enable the ITO to compute his total income in accordance with the provisions of this Act, the penalty levied under s. 271A cannot be sustained on the facts and circumstances of the present case. I, therefore, cancel the said penalties for both the years under consideration. 5. In the result, both the appeals are allowed.
-
1996 (11) TMI 103 - ITAT CALCUTTA-E
... ...
... ... ..... also extracted the relevant observations of the Madras Tribunal earlier. Respectfully following the same we have to reject the second argument of the learned Departmental Representative also. 10. For the aforesaid reasons we are of the view that the earlier orders of the Calcutta Bench of the Tribunal do not require reconsideration in the light of the three decisions cited by the learned CIT(A). We, therefore, hold that the amount of Rs. 1,97,78,396 cannot be subjected to income-tax. 11. The second ground against the disallowance of Rs. 2,40,000 representing expenditure incurred for increasing the assessee s share capital is dismissed respectfully following the judgments of the Calcutta High Court in the case of Brooke Bond India Ltd. vs. CIT (1982) 28 CTR (Cal) 345 (1983) 140 ITR 272 (Cal) and in the case of CIT vs. Tungabhadra Industries Ltd. (1994) 207 ITR 553 (Cal). 12. The third ground is general and requires no decision. 13. In the result, the appeal is partly allowed.
-
1996 (11) TMI 102 - ITAT CALCUTTA-E
Assessing Officer, Assessment Order, Assessment Year, Orders Prejudicial To Interests ... ... ... ... ..... come-tax has not referred to any material from which it could be said that the acceptance of the assessee s version by the Income-tax Officer was not warranted either in law or on facts. This is so in spite of the existence of a note in the record by the Income-tax Officer that no evidence could be collected by him to counter the claim of the assessee and, therefore, he had perforce to accept the assessee s version. One would have expected the Commissioner of Income-tax, under such circumstances, to at least point out to some materials or evidence which would contradict the assessee s version and which has not been adverted to by the Income-tax Officer while completing the assessment this has not been done. Under these circumstances, the Commissioner of Income-tax was not justified in branding the assessment order as erroneous and prejudicial to the interests of the revenue. 12. For the above reasons, we cancel the order of the Commissioner of income-tax and allow the appeal.
-
1996 (11) TMI 101 - ITAT CALCUTTA-B
Assessing Officer, Assessment Year, Bad Debt, Bona Fide, Change In Method, Mercantile System, Previous Year, Total Income, Write Off
-
1996 (11) TMI 100 - ITAT CALCUTTA
Assessment Year, Business Expenditure ... ... ... ... ..... s viewed as part of the beautification of the city of Calcutta, the advertisement value which it brings cannot be under-stated. Therefore, whichever angle it is viewed from, it is clear that the expenditure is allowable as business expenditure under section 37(1), having been incurred wholly and exclusively for the purpose of the assessee s business. The phrase for the purpose of the business has been explained by the Supreme Court in CIT v. Malayalam Plantations 1964 53 ITR 140 as having wide scope, taking in not only the day-to-day running of the business but also rationalisation of the administration and modernisation it comprehends many other acts incidental to the carrying on of the business. The expenditure in the present case satisfies this test also as it cannot be disputed that advertisement is done only for the purpose of attracting more business. 7. For the above reasons we hold that the expenditure is allowable as deduction under section 37(1) and allow the appeal
............
|
