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Showing 81 to 100 of 230 Records
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1985 (9) TMI 169
Excess production rebate on sugar - Recovery of rebate, paid erroneously, on sugar exported without payment of duty
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1985 (9) TMI 168
CLASSIFICATION ... ... ... ... ..... by the learned Advocate for the appellants. Screw studs are specifically mentioned in the Explanation below Tariff Item 52. Further, ldquo Stud rdquo has been defined as ldquo Headless Bolt rdquo (Para 11 supra). ldquo Bolts rdquo is a specific entry in Item 52. Thus, Item 52 is more specific than Item 34-A in relation to these goods. In the circumstances, according to this established principle, the classification of the goods manufactured by the appellants under the Specific Item 52 would be preferred to the general Item 34-A. 18. emsp In view of the foregoing discussions, we do not find any justification to interfere with the impugned order and in the result, we dismiss the present appeal. 19. emsp As we have held the goods to be classifiable under Item 52 of the Tariff, we direct that the benefit of Exemption Notification No. 158/71-CE, dated 26-7-1971 shall be allowed to the appellants, if they satisfy the conditions of the Notification. The appeal is otherwise rejected.
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1985 (9) TMI 167
Suo moto review - Board not empowered to review order passed by Assistant Collector ... ... ... ... ..... t. The revenue resisted the claim on the ground that the said claim having not been put forward by the assessee before the ITO or the AAC, it could not be raised in second appeal. The Tribunal held that the directors rsquo report accompanied by balance sheet and profit and loss account and other statements were filed by the assessee before the ITO and practically all the details for allowing a claim under Section 80J(l) of the Act were on record and hence it was open to the Tribunal to allow such a claim. On a reference Held, that the Tribunal was correct in allowing the claim of the assessee as there was material on record for allowing the same. Accordingly we hold that there is no bar for taking this plea before this Tribunal for the first time. In view of the above observations, we set aside the order passed by the Central Board of Excise and Customs and restore the order passed by the Assistant Collector of Central Excise, IDO, Salem. In the result, the appeal is allowed.
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1985 (9) TMI 165
Textured yarn processed from base yarn ... ... ... ... ..... ppliers to show that duty had, in fact, been paid. In the absence of any verification, or attempt thereat, by the Department to falsify the said assertion, and show that duty in fact had not been paid, we do not think that the demand for differential duty from the appellants was at all justified. 19. emsp In the view we have taken, we do not find it necessary to go into the question of applicability of Rule 9(2) of the Rules. We may, however, add that the issue is wholly academic because the show-notice, issued on 15-4-1977 in relation to the period 24-5-1976 to 28-2-1977, and the time, for raising demand under Rule 10 being, at the time, one year the demand would have been otherwise within time. 20. emsp In the result, we concur with the view taken by the Tribunal in earlier four sets of appeals, mentioned in paragraphs 10 and 11 above, and in view of what is discussed above, we allow The appeal and set aside the orders of the lower authorities and, consequently, the demand.
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1985 (9) TMI 164
Revision of - Adjudication ... ... ... ... ..... is purported to have filed this appeal. We, therefore, find that ensp there is no proper application of mind by the Collector (Appeals) even in this case apart from the fact, that all other observations in regard to the merits of this letter issued by the Superintendent, as made by us in para 3 above, apply wholly to this case also. 10. emsp In view of this, and in view of the fact that there was no proper appeal filed by this party, either before the Collector (Appeals) or before us, and no appealable order addressed to the appellants having been shown to exist on the record of our appeal, and all the matters having been disposed of by a combined order, covering Associations as well as individual mills, we have no alternative but to set aside the whole of the order-in-appeal and remit the matter to the Collector (Appeals) for fresh consideration in the light of the issues highlighted in this order, after notice to parties. 11. emsp The appeals are thus disposed of by remand.
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1985 (9) TMI 154
Reassessment, Information ... ... ... ... ..... kept and these are examined by the auditors, the RBI, etc. Each branch has an official who has been provided with guidelines from time to time for entering any item in this register. The case of B. V. Kulkarni on which the departmental representative has laid his accusing finger was actually a case not of a recovery but of a set off against other claim. This register, thus, serves as an aide memoire and dispenses with the need for a separate suspense account. As suspense account by its very name refers to cases of transitory items till decision is taken, the separate maintenance or otherwise of suspense account does not change the method of accounting, Consequently, viewed in this light, we hold that the method of accounting adopted by the assessee deserves to be accepted as a regular method acceptable without calling for resort to section 145 proviso. We, accordingly, uphold the decision of the Commissioner (Appeals) and dismiss these appeals. 18. All appeals are dismissed.
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1985 (9) TMI 153
Person, Local Authority, Appellate Tribunal ... ... ... ... ..... that the communidades in general, on consideration of the Code cannot be considered to be a local authority. The assessee, therefore, fails in its contention that exemption under section 10(20) is available to it. We also direct that the proper status of the assessee would be that of BOI and we reverse the order of the Commissioner (Appeals) accordingly. 50. In the cross-objections filed, the assessee has pleaded that the learned Commissioner (Appeals) erred in not considering all the grounds especially regarding exemption of capital gains on the ground that it arose on transfer of agricultural land. We find that the ground raised in the cross objection is proper and acceptable. We, therefore, allow the cross objection and remit the matter back to the Commissioner (Appeals) so that he can decide the matters raised by the assessee before him which were not earlier considered. 51. In the result, both the appeal by the department and cross-objection by the assessee are allowed.
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1985 (9) TMI 148
Capital Or Revenue Receipt ... ... ... ... ..... ibunal in the case of Rasi Exports (P.) Ltd. has no application here because there, when goods were exported, the assessee had no knowledge that the foreign customer would send them gifts of collar turning machine. The Tribunal has clearly pointed out in para 4 of its order that the receipt of such a gift was never in contemplation at any stage and further in para 5 they have stated that there was no material to show that the machine was received in pursuance of an agreement either tacit or written. The decision of the Supreme Court in the case of Groz-Beckert Saboo Ltd. has also no application to the facts in the present case. This is not a case where the gift has been received as a capital asset unlike in that case where the gifts were received along with certain machinery supplied for setting up a factory in India. For all the aforesaid reasons, we hold that the amount of Rs. 50,000 has rightly been brought to tax. 8. In the result, the appeal of the assessee is dismissed.
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1985 (9) TMI 146
Business Income, Assessable As ... ... ... ... ..... e accounting years under consideration and they should not be taken as income of the assessee in the relevant assessment years. 23. However, the amount or amounts directed or permitted to be spent from out of those two funds by the orders of the Government for providing storage facilities either to stock molasses or ethyl alcohol should be considered as income of the assessee in the year or years in which such direction or permission was granted by the Government. In fact this position is conceded by the assessee s counsel before us. It is not the case of the department that any portion from out of the two types of funds were ordered or allowed to be utilised in any of the previous years relevant to any of the assessment years under consideration. We, therefore, delete the amounts mentioned in the above table from being considered as income of the assessee for the assessment years 1974-75 to 1980-81. 24 to 38. These paras are not reproduced here as they involve minor issues.
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1985 (9) TMI 144
... ...
... ... ..... 3) 36 CTR (Mad) 1 (1983) 142 ITR 656 (Mad) that it is not necessary that all process resulting in the end manufacture must be carried on by the assessee itself. In the present case, it has, therefore, to be examined whether the processes carried on by the assessee, applying the ratio of the decision in CWT vs. Lakshmi, K. (1983) 36 CTR (Mad) 1 (1983) 142 ITR 656 (Mad) would entitle each assessee to exemption under s. 5(1)(xxxii). For this purpose, we consider that the proper course would be to set aside the findings of the authorities below on the point relating to the grant of exemption under s. 5(1)(xxxii) and restore the matter for each of the assessment years in each of the cases to the WTO for definition afresh after ascertaining and considering the fact in the light of the ratio of the judgment of the Madras High Court in the case of CWT vs. Lakshmi, K. (1983) 36 CTR (Mad) 1 (1983) 142 ITR 656 (Mad). 7. For statistical purposes, the appeals are to be treated as allowed.
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1985 (9) TMI 141
Hindu Undivided Family, Assessable As ... ... ... ... ..... cular member at the time of partition see in this regard Mulla on Principles of Hindu Law, 15th edn. paragraph No. 303 . In the present case, what has happened is that the life interest in the property, reserving the remainderman s interest to the two sons, went first to the father and afterwards to the mother on partition. At the time of partition itself, the remainderman s interest came to the two sons. This became a complete interest on the property on the demise of the parents. The parents had only a limited interest in the property by way of partition, which interest in terms of the partition deed itself passed on to the two brothers after the interregnum of the remaining lifetime of the father and thereafter of the mother of the two brothers. Hence, what Shri Sivasankaran obtained was property by way of partition and it would partake the character of an HUF property. The orders of the authorities below are upheld. 5. In the result, the appeal fails and stands dismissed.
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1985 (9) TMI 139
Income From House Property, Deduction ... ... ... ... ..... proved by the Supreme Court in Distributors (Baroda) (P.) Ltd. v. Union of India 1985 22 Taxman 49. Therefore, on the legal question, I am inclined to decide the issue on the ground that the loss of interest suffered by him was in respect of interest payable to himself and the same would not be covered by clause (vi) of section 24(1) of the Act. 4. However, the papers produced by the assessee show that this loan was to be returned and it was contended on behalf of the assessee that the provident fund did not actually belong to him. Part of it was contributed by the employer. Therefore, the benefit of the payment of interest on this loan would not be available to the assessee himself. To this extent the interest would not be payable to himself. I, therefore, restore the matter to the ITO for fresh consideration of this matter. He will allow such part of the interest paid by the assessee as does not belong to him. 5. In the result, the appeal is allowed for statistical purpose.
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1985 (9) TMI 138
... ...
... ... ..... d by the AAC will have to be deleted. 6. As regards the extent of savings of the assessee, his contention was that he was leading a very simple life and living in a small village and hand been running a small hotel for the last 20-25 years. He had also contended that he was a member of an HUF which owned agricultural land measuring about 300 acres and he was receiving Rs. 1,600 every year for the past fifty years. In addition, he stated that his elder brother was also living with him jointly and the said brother was himself having a business and they had ancestral hose and did not have to pay any rent. He is an old man in the evening of his life and the could not save about Rs. 50,000. In our view, therefore, his plea that the amount came from his past savings was quite probable and could be accepted. 7. In view of the above discussion, we, feel that this appeal deserves to be allowed. 8. The appeal is allowed and the addition of Rs. 45,000 made by the ITO is deleted in toto.
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1985 (9) TMI 137
... ...
... ... ..... Maharaja Yeshwantrao Pawer, is entirely misplaced because the facts in that case were altogether different. There the right to receive interest had arisen form the decree of the Court. It was true that the interest pertained to a period longer than one previous year, but the right to receive interest pertaining to all the years, in question, had emerged in favour of the said Maharaja on the date of the decree. In the present case, this is not so. The right to receive interest accrues and arises to assessee co-operative society from the agreement of loans which provided that interest would be charged at 9 per cent per annum from the members is question. The interest, therefore, accrued in the present case from the afore mentioned contracts from day to day and from year to year. 7. In view of what we have stated above, we allow the assessee rsquo s appeal in part and direct that the income from interest to the extent of Rs. 2,710 be included in the total income of the assessee.
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1985 (9) TMI 136
Capital Gains, Chargeability Of ... ... ... ... ..... e wife in the compromise decree. It is not a case in which a claim for Rs. 1,83,000 may have been decreed against the assessee and in satisfaction of that decretal debt the assessee transferred these shares in full discharge of that debt. Had that been so, it could certainly be said that the assessee has received a benefit of Rs. 1,83,000 as a liability to that extent had extinguished but in the present case the wife wanted certain shares and they have been given to her. The mere fact that their value has been estimated or mentioned at Rs. 1,83,000 cannot mean that the assessee has received a material benefit to that extent. We are, therefore, of the opinion that on the facts and circumstances of the present case no capital gains can be said to have arisen to the assessee and, therefore, the amount of Rs. 74,098 could not be added to the assessee s income as capital gains. 6. In the result, the appeal is allowed and the sum of Rs. 74,098 is deleted from the assessee s income.
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1985 (9) TMI 135
Business Loss Or Deduction, Remission Or Cessation Of Liability ... ... ... ... ..... a deduction in respect of this additional disputed sales tax liability. In order to overcome a possible loss of revenue on this account, we direct the assessee to make an entry in the books of account regarding the liability for sales tax in case the High Court admits the revision petition in this accounting year. This is only to assure that the matter is not lost by oversight. Shri Ratnakar for the assessee had agreed that the assessee will make such a debit entry in the books. On that condition, we will direct that, (i) section 41(1) profit will be assessable for the assessment year 1985-86, and (ii) if the High Court admits the revision petition then the assessability will depend upon the final outcome of the revision petition. If the assessee succeeds it will be brought to tax in the year in which the matter was finalised. In the meanwhile, the assessee will make necessary entries in the books of account. 24. With these observations, the appeal will be treated as allowed.
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1985 (9) TMI 134
Hindu Undivided Family, Assessment After Partition, Firm, Registration ... ... ... ... ..... ch he and his sons carried on the business constituting a firm. The firm claimed registration. On those facts, the Madhya Pradesh High Court held that it was not possible to hold that there was, in law, a partnership. The partnership business was in a true sense the joint family business in spite of the execution of the partnership deeds, as there was no partial partition amongst the sons and the family members with reference to the business asset. Thus, the partnership business was in fact carried on by the family members wholly with the aid of the coparcenary assets. Thus no valid firm has been constituted and registration was rightly rejected. The above ratio squarely applies to the instant case. The registration to the firm is rightly rejected. Since the income of the firm really belonged to the HUF, it is rightly included in the assessment of the HUF. Thus, we uphold the orders of the lower authorities in these years. 9. In the result, the appeals fail and are dismissed.
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1985 (9) TMI 133
... ...
... ... ..... TO to reconsider the same afresh. This in my opinion is not called for and is an unnecessary exercise On the other hand there is ample evidence by way of Court cases to show that the lease agreement was acted upon. Even Shri Anil Kumar did not say that he paid the rent to the assessee given in the execution of the Court decree. I am therefore, of the opinion that the case need not be sent back to the ITO for examination of the issue referred to in paragraph 4 of the ld. Accountant Member rsquo s orders. Since the genuineness of the matter has been gone into in the earlier years, and eventually in appeals it was held in favour of the assessee that decision should prevail and following that decision and the other materials brought on record and relied upon by the ld. Judicial Member I would held that the assessee rsquo s appeal deserves to be accepted. 5. Now the matter will go back to the regular Bench for disposing of the appeal in accordance with the opinion of the majority.
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1985 (9) TMI 132
... ...
... ... ..... not any infraction of law and it cannot be said that they are not for the purpose of business. In so far as the fine imposed under s. 14B of the Employees Provident Fund Act is concerned even than it is not for any infraction of law. This was imposed for the delay in the payment of provident fund and a fine levied for delay in the payment of provident fund use cannot be said to be infraction of law as that expression has to be understood by a series of decisions given by the various High Courts in the contrary. If the Employees Provident Fund Act provide for payment of damages and interest, it cannot be said to be an infraction of law. It is only a compensation paid for deprivation for user of funds. Such a compensation paid cannot be said to be an infraction of law as is now well settled by the decision of the Supreme Court in the case of Mahalakshmi Sugar Mills. We, therefore, hold the disallowance of this sum is not proper. 9. In the result, the appeal is allowed in part.
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1985 (9) TMI 131
Charitable Or Religious Trust ... ... ... ... ..... is so, the assessee rsquo s claim regarding the treatment of the capital gains of Rs. 96,607 will have to be accepted. 19. Before we close we may mention that the treatment of fixed deposits in a company as a capital asset may not be considered by the revenue to be a proper form of capital asset. Capital asset is defined in the Act and it includes property of any kind and the exclusions are given in the definition in section 2(14) of the Act itself. According to this definition, if there is a fixed deposit held by a person it can also be considered as a capital asset. We have already said that it can depend on the terms and the use of an asset whether it is a capital asset or otherwise. In case of a possible misuse, the law has to make the necessary provisions as there are already provisions in section 11 against a possible misuse. 20. As the matter is restored to the file of the ITO, with the above directions, the appeal shall be treated as allowed for statistical purposes.
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