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Case Laws
Showing 141 to 160 of 286 Records
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1991 (9) TMI 162 - SUPREME COURT
Whether concessional rate of octroi duty was available only if the declaration in Form 14 was filed with the octroi authorities?
Held that:- In the instant case the octroi duty paid by the petitioner Company would naturally have been passed on to the consumers. Therefore there is no justification to claim the same at this distance of time and the Court in its discretion can reject the same. For the above reasons, this Special Leave Petition is dismissed with costs.
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1991 (9) TMI 161 - SUPREME COURT
Whether the samples taken from 3 out of 80 bags of Khandsari could be treated as representative samples?
Held that:- The admitted facts of the case are that at the time of seizure of the goods Shri Ram Niwas was present and the samples were taken in his presence. Two samples each were taken separately from three different varieties of Khandsari at the instance of Shri Ram Niwas himself. It was proved by the public analyst that all the three samples contained Sucrose more than 90%. It was nowhere disputed nor suggested by Shri Ram Niwas at the time of taking samples or thereafter that the samples taken would not represent the correct quantity of Sucrose in those bags of Khandsari from which samples were not taken.
If the Collector was satisfied that 80 quintals of sugar were found in the premises without licence, it cannot be said that the order of confiscation passed by the Collector was arbitrary or based on no material. Appeal dismissed.
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1991 (9) TMI 160 - ITAT PUNE
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... ... ..... mise to contribute capital and promise to share the losses, there was a consideration for the contract and these aspects of the matter have been wholly ignored both by the Assessing Officer and the first appellate authority while deciding the issue about the genuineness of the firm. However, since the application of registration in Form No. 11 filed before the ITO has not been dealt with and a proper order under s. 185 not passed and since the ITO has not given a proper opportunity to the partners with reference to his doubt about the genuineness of the firm, we are of the opinion that the matter should go back to the ITO for reconsideration of the issues regarding genuineness of the firm as well as registration of the firm afresh in the Leith of our observations made in the foregoing paragraphs. We, therefore, set aside the order of the first appellate authority and restore the matter to the file of the ITO. 18. The appeal will be treated as allowed for statistical purposes.
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1991 (9) TMI 157 - ITAT PUNE
Cash System, Closing Stock, Financial Year, Previous Year, S. 10, Tax Authorities ... ... ... ... ..... was paid for legitimate purpose of the business and have been allowed as bona fide business expenditure in the original assessment. The amount was disallowed without giving the assessee an opportunity of being heard. Actually such brokerage represented commission paid to one Shri Joshi for negotiating the deal for selling the rights of construction on the land of the unbuilt shops. The service charges were paid to Associated Planners at the rate of 5 per cent, but the brokerage had been paid to different parties. The CIT(Appeals) accepted these arguments and directed that the disallowance be deleted. He has dealt with this issue in paras 15 and 16 of his order. 18. After hearing both the parties and after going through the order of the CIT(Appeals), we find that the CIT(Appeals) in this regard is correct and his order does not call for any interference. The same is confirmed. 19. In the result, deparmental appeal is dismissed, since both the grounds raised by it are rejected
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1991 (9) TMI 154 - ITAT MADRAS-D
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... ... ..... t point of time a partner in M/s Rajendran and Co. During the year of account relevant to this assessment year Asokan did not advance any money to the firm. Interest of Rs. 870 was no doubt paid by the firm on the amount (that had mainly been brought forward from the immediately preceding year of account) standing to the credit of his current account. Hence, in this case also, applying the rationale behind the doctrine of attribution, we hold that the amount standing to the credit of his current account could not be regarded as a debt owed by the firm, which is secured on or which has been incurred in relation to specified assets of the firm. We, therefore, decline to interfere in the matter. 39. In the result, the departmental appeals stand disposed of as indicated below (i) Dinakaran . (ii) Mahendran Appeals dismissed. (iii) Muthu . Asst. yr. 1987-88 . (i) Dinakaran . (ii) Mahendran Appeals allowed. (iii) Muthu Appeal dismissed. Asst. yr. 1988-89 . Asokan Appeal dismissed.
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1991 (9) TMI 152 - ITAT MADRAS-D
Valuation Of Assets, Words And Phrases ... ... ... ... ..... business purposes and it is covered by the expression residential purposes . My opinion to the second point is that the assessee had satisfied the conditions of section 7(4) to be entitled to the beneficial valuation of the property. The assessee, the department and the Members, who heard the appeal proceeded on the basis that except for 1/6th portion, the balance of 5/6th was utilised for residential purposes. The said 1/6th was stated to be confined to servant quarters. Though the learned Accountant Member doubted it. Proceeding from this premises, my opinion on the third point is again in the affirmative that the valuation of 5/6th portion of the property was to be in accordance with section 7(4) of the Wealth-tax Act, 1957 while 1/6th portion is to be valued in accordance with the market value of the property under section 7(1) of the Wealth-tax Act, 1957. 15. Now the matter will go back to the original Bench for deciding the appeals in accordance with the majority view.
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1991 (9) TMI 150 - ITAT MADRAS-D
Investment Allowance ... ... ... ... ..... cluded that the return filed on 7-10-1986 is a return filed under section 139(1) and therefore it is a valid return and the loss shown in the return is entitled to be carried forward for subsequent years for the purpose of set off. Even otherwise the delay is merely seven days. At the time of hearing I have enquired into the specific reasons which compelled the assessee to file application for extension of time. The learned counsel for the assessee stated that the assessee being a cooperative society the Internal Audit most complete the accounts in accordance with the requirements of the Co-operative Societies Act and only thereafter the return could be filed and in the assessee s case such Audit Report was not completed and that is why the assessee had to seek extension of time repeatedly. In my opinion, the reasons that compelled the assessee to seek extension of time is required to be appreciated. Accordingly, I upheld the order of the CIT(Appeals). The appeal is dismissed
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1991 (9) TMI 149 - ITAT MADRAS-D
Accounting Year, Additional Depreciation, Assessing Officer, Assessment Order, Mistake Apparent From Record, Previous Year
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1991 (9) TMI 148 - ITAT MADRAS-D
Carry Forward And Set Off, Unabsorbed Depreciation ... ... ... ... ..... rofits, and inasmuch as the priority for unabsorbed depreciation has been given the unabsorbed depreciation is liable to be set off against the long term capital gains made by the assessee for the year under consideration. In a similar situation the Supreme Court allowed the set off of unabsorbed depreciation against dividend income in that case even though unabsorbed loss of business was set off against profits of that year to bring the profits to nil Since the decision of the Supreme Court in the case of Jaipuria China Clay Mines (P.) Ltd. applies squarely to the facts of the assessee s case, there is force in the contention of the learned counsel for the assessee and the claim of the assessee has to be accepted. Therefore, the CIT(A) was not justified in rejecting the claim of the assessee. Consequently, I set aside the order of the CIT(A) and direct the ITO to set off the unabsorbed depreciation against the long-term capital gains made for this year. The appeal is allowed
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1991 (9) TMI 147 - ITAT MADRAS-D
Assessing Officer, Business Loss, Carry Forward And Set Off ... ... ... ... ..... tension of time for filing the return and the Income-tax Officer did not reject the prayer for extension of time and did not communicate it to the assessee then it has to be presumed that the assessee was right in assuming that extension of time had been granted. In the case of Harmanjit Trust v. CIT 1984 148 ITR 214 the Punjab and Haryana High Court held that a duty is cast on the Income-tax Officer to intimate to the assessee whether its request for extension of time for furnishing the return has been granted or refused. If there is no reply within a reasonable time from the Income-tax Officer the assessee could presume that his request for extension of time has been granted. In view of the judgments of the High Courts and the order of the Tribunal it is to be held that the assessee has filed the return of loss within the time allowed under section 139(1) and consequently the assessee is entitled to the loss sustained for the assessment year 1986-87. The appeal is dismissed
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1991 (9) TMI 146 - ITAT MADRAS-D
Firm Assessment, Industrial Undertaking, Partnership Deed, Plant And Machinery ... ... ... ... ..... r in M/s. Rajendran and Co. During the year of account relevant to his assessment year Asokan did not advance any money to the firm. Interest of Rs. 870 was no doubt paid by the firm on the amount (that had mainly been brought forward from the immediately preceding year of account) standing to the credit of his current account. Hence, in this case also, applying the rationale behind the doctrine of attribution, we hold that the amount standing to the credit of his current account could not be regarded as a debt owed by the firm, which is secured on or which has been incurred in relation to specified assets of the firm. We, therefore, decline to interfere in the matter. 39. In the result, the departmental appeals stand disposed of as indicated below Assessment year 1986-87 (i) Dinakaran (ii) Mahendran Appeals dismissed. (iii) Muthu Assessment year 1987-88 (i) Dinakaran Appeals allowed. (ii) Mahendran (iii) Muthu Appeal dismissed. Assessment year 1988-89 Asokan Appeal dismissed
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1991 (9) TMI 143 - ITAT MADRAS-C
A Partner, In Part, Market Value, Minor Child, Partnership Firm, Tea Estate ... ... ... ... ..... relaxed their rigid notions and extended a limited personality to a firm. Interestingly, one of the specific purposes noticed by the Supreme Court related to Order XXXC.P.C., which stipulates, inter alia, that a firm can sue another firm, even if there are common partners. 12. The foregoing analysis would indicate that the two agricultural firms, namely P.S.A. Sankara Raja and Co. and N.K. Srikanta Raja and Bros. cannot in law be regarded as partners in the assessee-firm merely because there were some common partners. All the three firms will have to be treated as separate entities, the presence of common partners notwithstanding. It should, therefore, follow that the Assessing Officer could not have lawfully travelled beyond the clear scope and ambit of section 40(b) and made the impugned disallowance of Rs. 34,010 (Rs. 19,010 Rs. 15,000). 13. In view of the foregoing, therefore, we decline to interfere in the matter. 14. In the result, the departmental appeal is dismissed.
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1991 (9) TMI 142 - ITAT MADRAS-C
Body Of Individuals ... ... ... ... ..... Thus, in the present case, the essential attribute of a body of individuals , namely, the group of the assessees should carry on some activity with a view to earn income is totally absent. Therefore, it is difficult to take the view that the assessees in this case who merely purchased the lottery tickets came together voluntarily and did not carry on any activity with a view to earn income, would constitute a body of individuals . On the other hand, after purchasing the lottery tickets, all of the assessees held them as co-owners and when fortune smiled on them, they shared the prize money equally. To put it differently, the assessee in the present case have received the prize money as co-owners as in the case of co-heirs inheriting their share in the property and not as a body of individuals . The same view was taken by the Commissioner of Income-tax (Appeals) and we, therefore, do not see any reason to interfere with his order. 12. In the result, these appeals are dismissed
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1991 (9) TMI 141 - ITAT MADRAS-C
Foreign Company, Foreign Currency ... ... ... ... ..... ned in this appeal. We have already clarified that we are mainly concerned with the interpretation of section 115A and 44D of the I.T. Act, 1961. Thus the C.B.D.T. Circular cannot be of any avail to the assessee. 10. The learned Departmental Representative relied upon the Andhra Pradesh High Court decision in Skoda Export s case. There, the question was whether any income accrued or arose to the non-resident company in respect of fee for consulting activity as a result of operations carried out by it within the taxable territories and whether there was any business connection. Again, we are not on the question of business connection at all since we are not dealing with this case under section 9(1)(i) of the I.T. Act. In our opinion, the ratio of the Andhra Pradesh High Court decision is not relevant for the purpose of this case. 11. In the view we have taken, we set aside the order of the CIT (Appeals) and restore the order of the ITO. 12. In the result, the appeal is allowed
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1991 (9) TMI 137 - ITAT MADRAS-B
Business Expenditure, Medical Expenses ... ... ... ... ..... ee-company which benefited all the group companies. No part of the expenditure can be stated to be unproved or excessive. Since the Assistant Commissioner himself did not question the reasonableness of the expenditure incurred, the only question is whether the said expenditure can be allowed to the assessee-company as having been incurred during the course of its business. The three decisions cited by us would certainly support the contention of the assessee and humbly following the same we hold that the whole of the expenditure of Rs. 2,54,994 should be allowed as a valid business expenditure in the hands of the assessee under section 37 of the Income-tax Act. 13. In view of our decision the further question that the amount of Rs. 2,54,994 was already recovered as part of the service charges of Rs. 66,10,000 charged from the group companies and therefore it should be considered as expenditure not incurred at all need not be considered. 14. In the result the appeal is allowed
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1991 (9) TMI 136 - ITAT MADRAS-B
Sale Proceeds ... ... ... ... ..... s that of HUF. Only the assessee was singled out for a different treatment - and, as we see it, without any basis. 31. Finally, the fact that the Hospet property was not included in the estate duty return of the estate of late Sri Yathiraj Mudaliar, or even the fact that the dividend from the shares of Indian Sugars Ltd., which was allotted to his branch of the family was returned by Shri Nithyanandam in his individual return of income are not conclusive of the matter. 32. In the facts and on the circumstances of the case, the Madras decision in L. Balasubramaniam s case which turned on an entirely different set of facts, cannot avail the Department. 33. In view of the foregoing, therefore, we hold that the CIT(Appeals) was justified in coming to the conclusion that the Padmanabha Nagar property belonged to the joint Hindu family of which Nithyanandam is the karta. We, therefore, decline to interfere in the matter. 34. In the result, all the departmental appeals are dismissed
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1991 (9) TMI 131 - ITAT JAIPUR
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... ... ..... s past savings at Rs. 75,000. We do not dispute the legal position that not only the penalty proceedings, but also the assessment proceedings are quite independent of and apart from each other but also from the proceedings under the WT Act, 1957. The approach adopted by the Revenue in the wealth-tax assessment can no doubt be not regarded as on estoppel against Revenue or the orders passed in those proceedings as res judicata in assessments and or penalty proceedings. Yet, the conduct of the Revenue as also the order passed in wealth-tax assessment would be a relevant factor for the consideration of the pertinent question, whether the income represented by the addition was concealed income of the assessee resulted from any fraud or gross or wilful neglect on his part. That is totally missing in this case. In our opinion, therefore, the order under appeal is justified on the facts and circumstances of the case and needs no modification at our level. 7. The appeal is dismissed.
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1991 (9) TMI 129 - ITAT JAIPUR
Central Government, Public Interest, Tax Authorities ... ... ... ... ..... red in securing investments from the investors. She was to get her commission on her collection and such collections could have made her eligible to earn Incentive Award. The award was very much connected with the total collections and therefore had a relevant connection and concern with the commission earned by the agent. In his order under appeal they learned DC(A) has himself accepted that award was connected with the commission income of the assessee. We, therefore, hold that the amount of Rs. 20,000 was part of gross commission of the assessee. 10. The CBDT circulars, relied upon by Mr. Ranka say that 50 per cent of the gross receipts of commission would be given as deduction. It is a beneficial circular and should be given effect to for the benefit of the assessee. We, therefore, direct that 50 per cent of the gross receipts of commission by way of Incentive Award of Rs. 20,000 be allowed as deduction to the assessee. 11. The appeal is allowed in the manner stated above
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1991 (9) TMI 128 - ITAT JAIPUR
Capital Gains, Purchase And Sale, Speculation Loss ... ... ... ... ..... et and thereafter sale thereof at profit or loss are necessarily involved. Thus the two provisions viz., sections 73 and 74 operate in different fields and once assessee s case has fallen under section 73 it cannot fall under section 74 of the Act. It would necessarily follow that irrespective of the fact whether the speculation loss has been caused to a person in the course of regular business or in a transaction of adventure in the nature of trade, which is the position in the present case, the loss would be dealt with according to the provisions of section 73. Number of transactions would not, in our opinion, affect the applicability of section 73 to a case. The argument advanced by Mr. Surana is rejected. Moreover, it goes against assessee s basic claim and which is to take benefit of speculation loss in the computation of her income from business and/or other sources. Assessee wants to set off the (speculation) loss against her business income. 8. The appeal is dismissed
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1991 (9) TMI 127 - ITAT DELHI-E
Business Disallowance, Interest On Deposits ... ... ... ... ..... f of the assessee that the car was utilized by the Managing Director for the purpose of the company, was partly correct. He, accordingly, restricted the disallowance to Rs. 5,000. 29. We have heard learned authorised representatives of the parties and have gone through the record of the case. The authorities below have not recorded a finding that the car was being used by the assessee company for non-business purposes also. No evidence could be brought on record by the authorities below to show that the car was being partly used for non-business purposes. There is no dispute that the company has no other car. Having regard to the facts of the case, we hold that the car maintenance expenses were incurred by the assessee company wholly and exclusively for the purpose of business and, therefore, the entire expenses were allowable under section 37. We, accordingly, delete the disallowance of Rs. 5,000. 30. In the result, the appeal is allowed partly to the extent indicated above.
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