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Case Laws
Showing 61 to 80 of 154 Records
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1976 (11) TMI 95 - ITAT GAUHATI
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... ... ..... sition of penalty on a registered firm if there is a delay in the filing of the return without reasonable cause as if it were an unregistered firm, even if no assessed tax was outstanding, in terms of the assessment order as a registered firm, while according to the assessee an interpretation excluding such cases from the imposition of penalty like any other case of an assessee who has no tax outstanding is possible. As pointed out by the Supreme Court in the case of Vegetable Products Ltd., (1) the construction beneficial to the assessee has to be adopted. We are, therefore, convinced with the decision of the AAC cancelling the penalties is correct and it is, accordingly, upheld. 6. The appeals are dismissed. 7. The assessee has filed cross objection claiming that in case the appeals of the Revenue are accepted, the AAC should be directed to consider the merits of the cases. Since we have upheld the order of the AAC, the cross objections become infructuous and are dismissed.
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1976 (11) TMI 94 - ITAT DELHI-E
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... ... ..... ssanally and sons (4) relied on for the Department is clearly distinguishable. In that case, the firm was refused registration because (1) the gifts to the sons of the original partners had been made after 1st Jan., 1959 on which date the firm was deemed to have commenced according to the deed of partnership (2) The new partners drew salaries though the deed provided specifically that would not do so and (3) all the partners were not allowed to operate the bank accounting of the firm whereas the deed of partnership authorised them to do so. On these facts, it was held that the business of the firm was not carried on in conformity with some of the materials terms of the deed of partnership and hence the firm was not entitled to registration. In the present case the facts are entirely different and, therefore, the ratio of this decision has no application. 8. In the result, therefore, we direct the ITO to allow the registration to the assessee company for the asst. yr. 1971-72.
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1976 (11) TMI 93 - ITAT DELHI-B
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... ... ..... llate Asstt. Commissioner rsquo s finding and direct that the Income Tax Officer will be at liberty to consider the issue afresh in the event of his finding that Balmukund was taken in as a working partner. 7. In short, we agree with the Appellate Asstt. Commr. that the facts of the case require investigation in relation to two important aspects and the Asstt. Appellate Commr. was, therefore, right in setting aside the order of the Income-tax Officer and sending the matter back to the Income-tax Officer for fresh consideration. As pointed out, however, we have somewhat modified the Appellate Asstt. Commissioner rsquo s directions to the Income-tax Officer to the extent indicated above. The Appellate Asstt. Commissioner also appears to have erred in stating that the assessment is not aside. The order in appeal before him was the order under s.185 (1)(b) and it was this he had to set aside. In this respect also his order is modified. In the result, the appeal is partly allowed.
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1976 (11) TMI 92 - ITAT DELHI-B
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... ... ..... h etc. In another loose paper, there is an a/c of Om Prakash, in which it is mentioned as under Rs. 525 Coffee set one Rs. 626 Illegible Rs. 50 One Goggle Rs. 250 Flash Gun one Rs. 150 Shaving machine etc. The total amount for all the items came to Rs. 1,135. These two pieces of papers clearly indicate that the appellant had been importing without licence i.e. smuggling the valuable foreign articles and selling them in the open market at exhorbitant rates. 10. No material has been placed before us to show that the inference of the authorities below on the basis of the above evidence shows any infirmity. In our view, the conclusion recorded by them on the facts of the case and the evidence on record is correct. It is then submitted for the assessee that the estimate of Rs. 10,000 is excessive, in any case should be reduced. We find that the estimate cannot be considered to be unconvinceable. We, therefore, decline to interfere. 11. In the result, the appeal is allowed in part.
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1976 (11) TMI 91 - ITAT DELHI-B
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... ... ..... earned counsel for the assessee was that, at the time of the sale, the tenants in occupation of the property were making unauthorised use of the premises for commercial purposes, even though the property was a residential one. The learned counsel made a submission that such unauthorised use will have direct bearing on the market value of the property. There is no evidence on record to show in what manner the tenants were using the tenanted premises. The Inspecting Asstt. Commissioner will take evidence on this point also and report on the nature of the use to which each of the tenants had put the premises, rented by the assessee at the time of the sale, namely, whether the premises were used for residential or for commercial purposes and whether the use for commercial purposes was in contravention of any law or rules. 6. He will submit his report within sixty days of the receipt of this remand order. On receipt of the remand report, these appeals will be reposted for hearing.
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1976 (11) TMI 90 - ITAT DELHI-B
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... ... ..... 1 bigha and 8 biswas of non agricultural land owned by the assessee inside the village, the Wealth-tax Officer had adopted the value thereof at Rs. 40,000 against Rs. 1,000 disclosed by the assessee observing that the assessee had given no details. The Appellate Assistant Commissioner, however, considered it to be excessive, but he further observed that since this land was inside the village Abadi, its value had to be a little more. Having regard to the value put by him on the other land of the assessee he valued this land at Rs. 16,000. The Deptt. feels aggrieved from the same. 11. We have heard the parties and considered the matter and we are of the view that having regard to the rates at which compensation had been awarded in respect of the agricultural lands in that area, the value put by the Appellate Asstt. Commissioner on this land was quite fair and reasonable and called for no interference. We order accordingly. 12. In the result, the four appeals are partly allowed.
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1976 (11) TMI 89 - ITAT DELHI-A
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... ... ..... uld not be bad debts. The disallowance made by the ITO was of higher sum viz. Rs. 1,394 in the head office and Rs. 448 in the branch. These disallowance were reduced by the AAC to Rs. 358 in the head office and Rs. 129 in the branch. It is now pleaded that these were not really bad debts but discount or remissions granted against bills raised for goods supplied to Govt. Department. Having regard to the nature of these amounts, it cannot be said that the discount or remissions granted out of the bills raised against Govt. could not be allowed as deduction. They were, in our opinion, incurred for the purpose of business. If business exigencies warrant allowance of discount or granting remissions, they could not be said to be not for the purpose of business. We, therefore, allow the entire claim not on the ground that they were bad debts but on the ground that they were business expenses. 7. The other grounds raised were not pressed. 8. The appeal is, therefore, allowed in part.
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1976 (11) TMI 88 - DELHI HIGH COURT
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... ... ..... s. From the books of accounts it was found that liquor for Rs. 2,10,505.60 and soft drinks for Rs. 60,267.30 were supplied by the Association to its member. The Association was asked to furnish the list of purchases but it did not comply. The assessing authority from its detailed studies of other clubs found that the Clubs were making 60 profit on the purchases. On that basis it was held that the liquor worth Rs. 1,34,068.80 and soft drinks worth Rs. 6,056 would have been purchased by the Association and as the said articles had been purchased by the Association on the strength of the Registration certificate but instead of resale the Association supplied the same to its members, the case was covered by second proviso to section 5(2) (a)(ii) of the Bengal Finance (Sale Tax) Act 1941 as then extended to the Union Territory of Delhi. 2. In the circumstances stated above, I find no illegality in the orders passed by the authorities below. 3. The appeal is accordingly dismissed.
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1976 (11) TMI 87 - ITAT DELHI
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... ... ..... d AAC did not mention what the amount of admitted tax was. In view of the receipt now filed I allow the appeal, set aside the impugned order and remand the case to the Asstt. CIT to examine if the entire admitted tax has been paid through the receipt now file. If so, he will admit the appeal to its original number and dispose of the same according to law. In case the entire admitted tax has not been paid, he will dismiss the appeal once again.
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1976 (11) TMI 86 - ITAT DELHI
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... ... ..... true of certificate issued by the embassy of the United states of America dated 31st May, 1972 which reads - This to certify that Peace Corps is an agency of U.S. Government and a part of the Embassy and, therefore, exempt from the payment of sales tax under notification No. D.991-ATII/53 of 24 February, 1953, issued by the Ministry of External Affairs, Govt. Of India. 2. There is also a sales-tax exemption certificate dated 25th January, 1972 issued by the Embassy to show that the goods worth Rs. 19,555.20p purchased through Voucher Nos. 29436 and 29437 both dated 9th June, 1970 from M/s. Caprihans (India) Pvt. Ltd. and that the goods covered by the above mentioned bills vouchers were for the official use of the Embassy. 3. In view of these two certificates I think that the dealer is entitled to deduct the amount covered by the said sales vouchers from his turnovers under R. 29 (ii) (a). For the reasons thus stated above, I allow the appeal and set aside the impugned order.
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1976 (11) TMI 85 - DELHI HIGH COURT
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... ... ..... re, the entry was made on the date on which the payment was made. Such a minor discrepancy in itself is not the sufficient ground to reject the books of account. This fact also does not indicate suppression of sale. 4. As regards the third ground, the explanation given by the dealer is that the discrepancy found in the figures of sales taxable at the rate of 5 per cent was due to the fact that the Assessing Authority did not take into his consideration the finance commission and the sales made to the registered dealers. After checking the account, it was agreed by the l earned representative of the department that if the finance commission and sales to registered dealers are taken into consideration, there will be no discrepancy in the account. In the above circumstances, this ground also disappears. 5. Thus all the grounds on which the enhancement was made, fail, and, as such, the enhancement cannot be upheld. I, therefore, allow the appeal and set aside the impugned order.
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1976 (11) TMI 84 - ITAT DELHI
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... ... ..... were supplied is dated 9th June, 1965. The other sale related to Rs. 85.50p. The seal of the issuing authority was not affixed on the D form and date of issue was also not given. The third sale was in respect of the bill dated 11th February, 1966 for Rs. 446.26p. The D form in respect of this sale was not dated and the seal of the institution to which item was sold was also not available on the D form. These defects in the D forms as pointed above are material. If on account of these defects the authorities did not accept the D forms, I do not think that they were wrong. I find no force in this appeal. It is accordingly dismissed.
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1976 (11) TMI 83 - CUTTACK
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... ... ..... ult has been found out. In view of that, it can not be said that the appellant did not maintain a stock register in 1974-75. Hence that can not be a reason to reject the appellant s accounts. In view of that I do not find any sufficient material to reject the returned figures Hence the returned figures be accepted and the enhancement of 10 as done should be knocked down. 12. In the result, second appeal No. 1218 of 1976-77 relating to the assessment of the year 1974-75 is allowed in part. The returned figures are accepted. But is should be scrutinised by the assessing officer whether the appellant has maintained separate accounts for realisation of sales tax. If that is so, the same be deducted and T.T.O. be determined. In absence of such account, the entire sales figures be treated as his G.T.O. and no tax should be levied on sales of vegetable seeds. Tax be recalculated by the assessing officer and if it is found that the appellant has paid excess tax, the same be refunded.
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1976 (11) TMI 82 - ITAT CUTTACK
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... ... ..... lant. (c) Regarding the income from garden, the area under cultivation and fruit bearing trees have not been taken into consideration. They be fixed after making such further enquiries. (d) Regarding the expenses, deduction has not been given in respect of machineries used as per provision of r. 6. That need be done. It is said that the appellant has utilised machinery, electricity for cultivation. The appellant should be given opportunity to have his say in the matter of expenditure and the necessary expenditure incurred be allowed. 8. In the result, the appeals are allowed and the matters of assessment are remanded back to the assessing officer, to do with reference to the revenue records and other papers, fix the extent of land owned by the appellant and his members of the family and as to whether all of them can be assessed under one assessment. He would also estimate the income from these landed properties as indicated above and complete the assessments according to law.
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1976 (11) TMI 81 - ITAT CUTTACK
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... ... ..... at in case of any doubt, the benefit of doubt would go to the assessee. Here, as there is no definite evidence to show that the appellant purchased fertilisers in 1969-70 and specially when no estimate has been done for fertilisers for the year under assessment that is 1970-71, it cannot be said that the appellant carried on business in fertilisers in 1969-70. Accordingly the estimation of fertiliser sale proceeds done for the year 1960-70 at Rs. 4,000 must be deleted from consideration. If that is deleted, the appellant does not earn liability during 1970-71. Furthermore during 1970-71, admittedly his turnover has been estimated at Rs. 22,870. Taking these into consideration, I find that the liability of the appellant to pay tax form 1st April, 1970 has not been properly fixed. As such the assessment for the year 1970-71 must be quashed. 7. In the result the appeal is allowed. The assessment u/s 12(5) is annulled. Tax and penalty if paid be refunded by the assessing officer.
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1976 (11) TMI 80 - ITAT COCHIN
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... ... ..... is accumulated repairs. From the details of expenditure was an item or repair long overdue and had got accumulated. Just because the amount spent is about Rs. 13,000 it cannot be inferred that it represents the repairs which should have been spread over a period of years. For one to come to the conclusion that it is all accumulated repairs there must be more material by way of what was the condition of the building in the earlier years and whether any repairs were actually needed in those years and those got postponed. On the available material, which is only the details of expenditure, the only possible conclusion is that it is current repairs. An inference that it is accumulated repairs is quite unwarranted. 5. Appeal allowed. The amount of Rs. 13,247 spent is only for the current repairs of the building and it is fully under repairs of the building and it is fully under S. 30 of the Income-tax Act, 1961 allowable as a deduction for the computation of the business income.
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1976 (11) TMI 79 - ITAT COCHIN
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... ... ..... do not show to transactions as in this case or in the Supreme Court case the payment appeared to have been for acquiring certain capital assets. Nevertheless the Court of Appeal held that such payment which were based on the turnover would be only revenue expenditure. This view has been approved by the Supreme Court in Travancore Sugars.2 For these reasons we hold that the payments concerned are only revenue in nature and allowable. 17. We are not impressed with the alternative arguments of Shri Rajappan. There is no question of buying off of a competitor here because the limited company was floated only to take over the assets and liabilities of the firm itself. It may be true that S. 40A(2) might have applied in this case read with S. 37. But neither the Income-tax Officer nor the Appellate Assistant Commissioner had directed their attention to that question. It will not be fair to take up that line at the final stage of appeal. 18. For these reasons we allow the appeals.
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1976 (11) TMI 78 - ITAT BOMBAY-E
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... ... ..... w coming to item No. 4, we find that the closing balance as on 30th June, 1969 was Rs. 4,496 while closing balance in this account as on 30th June 1970 was Rs. 5,096 and it can be attributed to adjustment in respect of interest. We, fold that on the basis of the available material, addition of Rs. 5,096 cannot be sustained. We, therefore, uphold the decision of the AAC so far as the said amount is concerned. 8. The next contention raised by the revenue is that the AAC erred in allowing interest and brokerage on the unproved loans mentioned in grounds No. 2 and 3 above. In view of our decision to hold that additional deposit in the account standing in the name of G and deposit standing in the name of Smt. H are not genuine deposits, the decision of the AAC to allow interest and brokerage in respect of these accounts as a corollary must stand reversed. The disallowance as made by the ITO in so far as it relates to the said accounts is restored. 9. The appeal is partly allowed.
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1976 (11) TMI 77 - ITAT AMRITSAR
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... ... ..... unobstructed and peaceful possession, then we think that the consideration would not exceed, in any case, than that what has been stated in the sale deed. 13. Moreover, the Competent Authority failed to note that the sale was made in compelling circumstances. Smt. Chanan Wati, the owner of the building was an ailing lady and she required considerable amount for her treatment. There was no time at her disposal to wait for better price. In order to procure the money, the building in dispute had to be sold and that was sold to a person who made the better offer than the tenants who occupied the building in dispute at the time of the sale. In these circumstances, we are of the view that the consideration was truly stated in the sale deed. There is nothing on record to suggest that the consideration was suppressed in any way in the sale deed with the object of facilitating the reduction or evasion of the tax liability. 14. In the result, both the appeals succeed and are allowed.
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1976 (11) TMI 75 - ITAT ALLAHABAD-E
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... ... ..... ry course. As already indicated above it is evident that the assessment in question had been completed in the ordinary course and as such, the AAC was wrong in cancelling the assessment. Since the assessment have been made on the basis of the returns, which are claimed as duplicate by the assessee, it cannot be held by any stretch of imagination that the WTO has completed the assessments ignoring the original returns. That being so, we feel that the assessee gets no support from the case of Ranchhordas Karsondas already referred above. 10. For the reasons stated above, the orders of the AAC have to be set aside. As already observed above, the AAC had cancelled the assessment without disposing of the other grounds of appeal. In the circumstances, we consider it appropriate to send back the appeals to him for disposal on merits and we direct accordingly. 11. In the result, the cross-objections are dismissed, and the appeals for statistical purposes shall be treated as allowed.
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