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Case Laws
Showing 161 to 180 of 259 Records
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1992 (8) TMI 105 - ITAT BOMBAY-B
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... ... ..... of assessment or penalty, and further advance-tax paid was not an amount paid in pursuance of an order of assessment or penalty. When there is a conflict of judicial decisions and there is no decision of the jurisdictional High Court to guide the Tribunal, the best aid for interpretation could only be the statute which as observed earlier only requires the ITO to treat the advance-tax paid as the payment towards the income of the previous year and which is to be given credit to after completion of the assessment. There is no requirement, express or implicit that such payment has to be treated as payment in pursuance of an order of assessment. In view of this, we shall hold that the CIT(A) was not justified in directing the ITO to grant relief under the provisions of s. 244(1A) on the excess advance-tax paid by the assessee and found to be refundable. As a result, the CIT(A) orders are reversed. 5. In the result, the appeals by the assessee and by the Department are allowed.
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1992 (8) TMI 104 - ITAT BOMBAY-B
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... ... ..... ssion. 8. Now, this is the point which has to be seen in this case. We are of opinion that since this matter requires some investigation we have to remit the matter back to the ITO. He will find out whether prior permission was taken from the Housing Society before the assessee s guardian chose to be nominee of the company in holding those shares. For this purpose, we are remitting the matter back to the ITO. 9. We will make it clear that there is no difficulty in holding that there is a transfer if such a prior permission has been received. It matters not whether the guardian of the assessee continues to be shown as the member of the coop. society. As Shri Patil pointed out, before the transfer, he was holding the shares in the capacity of guardian of the minor. After the transfer, he will hold it in his capacity as the nominee of the company. 10. The appeal is partly allowed. The ITO will ascertain whether prior approval has been obtained from the society for the transfer.
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1992 (8) TMI 103 - ITAT BOMBAY-A
Association Of Persons, Body Of Individuals, Interest Income ... ... ... ... ..... cannot, therefore, be given the relief. The addition is sustained. 14. With regard to the claim of the assessee that part of the assets belonged to his brothers, there is absolutely no direct proof in support of the same. On the contrary, the facts referred to by the learned counsel for the department and the order of the Commissioner (Appeals) clearly indicate that there was no established connection between these utensils, coins, etc., and the assessee s brothers. In fact even though the brothers have indicated some assets in their returns, coins were absent. The decision of the authorities below on this point is upheld. 15. On the question of miniature paintings and foreign currency their inclusion in the assessment and their valuation for such inclusion does not call for any interference, the assessee not having made out any special argument to support in this behalf. 16 and 17. These paras are not reproduced here as they involve minor issues. 18. The appeal is dismissed.
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1992 (8) TMI 102 - ITAT AHMEDABAD-C
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... ... ..... ement would enhance the reputation of the company in the business world. Considering the entire circumstances the conclusion is irresistible that the act of the assessee in writing off of the amount in question was a bona fide act for the purpose of business of the assessee company and as such the said act did not amount to taxable gift in view of the provisions in s. 5(1)(xiv) of the GT Act. It is not necessary to refer to the decisions cited by the parties because facts in those cases are not similar. The question whether particular gift had been made bona fide for the purpose of business is required to be decided after taking into account all surrounding circumstances. For the reasons given above we hold that the GTO had erred in treating the amount in question as taxable gift. In view of this finding it is not necessary to consider the alternative submission of the assessee to the effect that the value of gift would not be more than Rs. 10,000. 13. The appeal is allowed.
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1992 (8) TMI 101 - ITAT AHMEDABAD-C
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... ... ..... es could be bought. The learned Departmental Representative has contended that exemption under s. 5(1)(vii) excludes any other benefit regarding gift but the question of exemption arises only if there is a gift and it is the assessee s contention here that this is not a case of gift. This contention we have upheld as above. Secondly, s. 5(1)(vii) speaks of a gift to a relative dependent upon him, i.e., the donor. These words would exclude an HUF. Since it is the obligation of an HUF as stated above to bear the marriage expenses of an unmarried daughter, the discharge of that obligation cannot be taxed and the exclusion from the meaning of the word gift would not be covered by s. 5(1)(vii). Consequently, there is no question of any relief under s. 5(1)(vii) covering the assessee s case. It is not a case of relief because it is a case which is not covered by the definition of gift . For the above reasons, the transaction cannot be taxed under the GT Act. The appeal is allowed.
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1992 (8) TMI 100 - ITAT AHMEDABAD-C
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... ... ..... a decision that we should not follow the Hon ble Gujarat High Court s decision, a precedent would be laid down for many future cases where it may not be clear whether a certain decision of the jurisdictional High Court has been overruled or not. In some cases, it may be doubtful or debatable. The question whether a certain decision has been overruled or not may itself not be clear and may be doubtful or debatable. It is not safe to apply the rule that if the decision of the jurisdictional High Court has not been clearly overruled by the Supreme Court that decision should not be followed, because whether that decision has been overruled or not itself is a matter for decision. Therefore, to keep the matter beyond any possibility of dispute, we should leave it to the Hon ble Gujarat High Court to reconsider its decision in the light of the decision of the Supreme Court. Accordingly, we apply the said Gujarat High Court decision and cancel the penalty. 6. The appeal is allowed.
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1992 (8) TMI 99 - ITAT AHMEDABAD-C
On The Occasion Of ... ... ... ... ..... so even the exemption under section 5(1)(vii) was not available to the assessee. 4. In the present case, it is not in dispute that the social custom of giving gift to the daughter-in-law by the father-in-law exists in the community to which the assessee belongs or that any part thereof was excessive, looking to the status of the assessee. When that is so it should follow that there was a customary and social obligation on the father-in-law to make the gift and consequently, the transfer cannot be said to be voluntary. In this connection, it is to be noted that the Hon ble Calcutta High Court in the above case has spoken not only of the legal obligation but also of the moral obligation and if a moral obligation is sufficient to take the transaction out of the scope of the definition of gift in the Act we see no reason why social and customary obligations also cannot do the same. We, therefore, hold that the transfer was not a gift tinder the Gift-tax Act. The appeal is allowed
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1992 (8) TMI 98 - ITAT AHMEDABAD-C
Annual Value, Assessing Officer, House Property ... ... ... ... ..... rest is a separate amount which may be used either partly or wholly or capitalised keeping the capital intact. The value of an asset is not detachable from the asset whereas the interest is separate and detachable from the capital amount. The accretion of interest on the capital does not mean that the value of the capital amount has increased. Otherwise, every case of interest on capital would be a case of capital gains and there can be no tax on the interest as income. Interest is a price for the use of the capital amount. It is not acquired out of the capital amount but as a result of the permission to use the money. It is an asset acquired out of something which is appurtenant to the asset (i.e., its use) and not out of the asset. However, for the sake of consistency alone with the aforesaid order of the Tribunal cited supra, we hold that the assessee is entitled to the exemption in respect of the interest accrued on the capital amount. Accordingly, the appeal is dismissed
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1992 (8) TMI 97 - ITAT AHMEDABAD-C
Taxable Gift ... ... ... ... ..... res could be bought. The learned D.R. has contended that exemption under section 5(1)(vii) excludes any other benefit regarding gift but the question of exemption arises only if there is a gift and it is the assessee s contention here that this is not a case of gift. This contention we have upheld as above. Secondly, section 5(1)(vii) speaks of a gift to a relative dependent upon him, i.e., the donor. These words would exclude a HUF. Since it is the obligation of a HUF as stated above to bear the marriage expenses of an unmarried daughter, the discharge of that obligation cannot be taxed and the exclusion from the meaning of the word gift would not be covered by section 5(1)(vii). Consequently, there is no question of any relief under section 5(1)(vii) covering the assessee s case. It is not a case of relief because it is a case which is not covered by the definition of gift . For the above reasons, the transaction cannot be taxed under the Gift-tax Act. The appeal is allowed
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1992 (8) TMI 96 - ITAT AHMEDABAD-C
On The Occasion Of ... ... ... ... ..... so even the exemption under section 5(1)(vii) was not available to the assessee. 4. In the present case, it is not in dispute that the social custom of giving gift to the daughter-in-law by the father-in-law exists in the community to which the assessee belongs or that any part thereof was excessive, looking to the status of the assessee. When that is so it should follow that there was a customary and social obligation on the father-in-law to make the gift and consequently, the transfer cannot be said to be voluntary. In this connection, it is to be noted that the Hon ble Calcutta High Court in the above case has spoken not only of the legal obligation but also of the moral obligation and if a moral obligation is sufficient to take the transaction out of the scope of the definition of gift in the Act we see no reason why social and customary obligations also cannot do the same. We, therefore, hold that the transfer was not a gift tinder the Gift-tax Act. The appeal is allowed
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1992 (8) TMI 95 - ITAT AHMEDABAD-A
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... ... ..... ave been clearly raised before the Assessing Officer also. Those contentions have been accepted by the CIT(A) and she has gone a step further in verifying herself the factual aspects which are implied in the assessee s contentions. We further agree with the learned advocate for the assessee that the factual aspects seem to be reasonably clear and it is not a case of ITO seeking any specific information on any relevant point and the assessee not furnishing it before him. It is really a case of the ITO raising a totally irrelevant point and then drawing an inference against the assessee. On legal aspect also, we agree with the learned advocate of the assessee and the view taken by the CIT(A) that the amount was earned outside India in the financial year 1979-80 and since the assessee was non-resident in asst. yr. 1980-81, the amount was not taxable even when it was passed on to the assessee through the assessee s employer in June, 1982. 8. The Departmental appeal is dismissed.
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1992 (8) TMI 94 - ITAT AHMEDABAD-A
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... ... ..... ch. The essence of the matter is that immunity can be given only in respect of what is disclosed but not found in the raid. If the raid has been conducted after the return has been filed it is possible that something more may be found in the raid than what is disclosed in the return. That will not deprive an assessee of immunity regarding the disclosure made in the return before the raid. All this can be explained in the penalty proceedings after they are initiated. For this reason also there is no bar to initiation of penalty proceedings. Therefore, what has to be seen is whether the assessee has disclosed in the return everything and nothing has been found in the raid which is not so disclosed. However, as stated above mere initiation of penalty proceedings is not prevented by the circular. Therefore, the Dy. Commissioner(A) s orders for the two asst. yrs. 1981-82 and 1982-83 are confirmed but for different reasons as above. 7. In the result, all the appeals are dismissed.
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1992 (8) TMI 93 - ITAT AHMEDABAD-A
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... ... ..... ch. The essence of the matter is that immunity can be given only in respect of what is disclosed but not found in the raid. If the raid has been conducted after the return has been filed it is possible that something more may be found in the raid than what is disclosed in the return. That will not deprive an assessee of immunity regarding the disclosure made in the return before the raid. All this can be explained in the penalty proceedings after they are initiated. For this reason also there is no bar to initiation of penalty proceedings. Therefore, what has to be seen is whether the assessee has disclosed in the return everything and nothing has been found in the raid which is not so disclosed. However, as stated above mere initiation of penalty proceedings is not prevented by the circular. Therefore, the Dy. Commissioner(A) s orders for the two asst. yrs. 1981-82 and 1982-83 are confirmed but for different reasons as above. 7. In the result, all the appeals are dismissed.
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1992 (8) TMI 92 - BOMBAY HIGH COURT
Confiscation of goods and penalty
... ... ... ... ..... ners. Shri Sethna wondered why the bonds secured by the Department from the petitioners in the present case are worded differently. The surprise of Shri Sethna cannot be answered by the Court. It is not for this Court to investigate why the Department took bonds from the petitioners which are differently worded than the normal bonds secured by the Department from the importers. In our judgment, once the conditions imposed by the Assistant Collector of Customs on the petitioners while securing the bonds under sub-section (1) of Section 143 are complied with within the stipulated period, then the conclusion is inescapable that the Assistant Collector of Customs had no jurisdiction to commence proceedings for confiscation of goods and levy of penalty under Sections 111 and 112 of the Customs Act by issuance of show-cause notice. 9.Accordingly, petition succeeds and rule is made absolute in terms of prayer (b). In the circumstances of the case, there will be no order as to costs.
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1992 (8) TMI 91 - SUPREME COURT
Appeal to Supreme Court - S.L.P. ... ... ... ... ..... n, we are of the opinion that the Division Bench was right in holding that the intervention of the High Court under Article 226 of the Constitution was not called for. We see no reason to upset this conclusion of the Division Bench under Article 136 of the Constitution. These appeals are, therefore, dismissed. 7.Learned Counsel for the appellants submits that there are several other cases - of other assessees and of these assessees for other import consignments - in which the question whether the goods imported are sheets or strips arises, is pending at various stages and that the dismissal of the writ petition should not preclude a contention on merits in those cases. As we have already made clear, the present writ petitions are being dismissed on a narrow ground. We express no conclusion on the merits and, in other proceedings pending before them, it will be open to the authorities to apply their minds to the relevant facts and arrive at a conclusion in accordance with law.
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1992 (8) TMI 90 - SC ORDER
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... ... ..... not be described as machine parts so as to fall outside the purview of Item 25 or 26AA of the Customs Tariff. The finding is essentially one of the fact based on the material before the Tribunal. The civil appeals are dismissed. There will be no order as to costs. 2. Counsel for the respondent raised a point that the appeals before this Court were not maintainable as they were not accompanied by an authenticated copy of the Tribunal s order. In view of the fact that these appeals are dismissed, this point is not pressed.
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1992 (8) TMI 89 - HIGH COURT OF GUJARAT FULL BENCH
Statute - Change in law - Demand - Liability to pay ... ... ... ... ..... (10) E.L.T. 201 (All.), in the case of Madura Coats Ltd. v. Asstt. Coll- ector of Central Excise, 1990 (48) E.L.T. 321 (Mad.) and in the case of Non-Ferrous Rolling Mills. v. Union of India, 1991 (52) E.L.T. 487 (Mad.) that the proceedings initiated under Rule 10 or Rule 10A would lapse after substitution by Rule 10. 37.In the result, as regards to the question which is referred to the larger Bench, we hold that the notices issued or actions taken under the substituted Rules 10 and 10A or omitted Rule 10 of the Central Excise Rules, 1944 would not stand discharged or terminated upon substitution or omission, as the case may be. The proceedings initiated under Rule 10 or 10A for recovery of duty of excise by issuance of a show cause notice would not come to an end or lapse as soon as Rules 10 and 10A are substituted with effect from 6th August, 1977 or as soon as substituted Rule 10 is omitted with effect from 17th November, 1980. We therefore answer the question accordingly.
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1992 (8) TMI 88 - SUPREME COURT
Whether the Tribunal correct to say by the impugned order came to the conclusion that it was bound by an earlier decision of the Tribunal and, therefore, the controversy in these appeals was not open for a fresh consideration?
Held that:- The findings of the Collector on appeal about the nature of the amount of ₹ 5,000/- claimed as deduction by the appellant and the justification of that deduction were at variance with the findings rendered by the Assistant Collector. In this situation it was incumbent upon the Tribunal to first determine the nature of this amount and then to proceed for deciding the justification for granting that deduction. The Tribunal without adverting to this obvious position proceeded on the misapprehension that it was precluded from deciding the question on merits because of an earlier decision of the Tribunal regarding an earlier period. The only reason on which the Tribunal dismissed the appeal without going into the facts on the basis of which the question of law had to be decided, is, therefore, unsustainable. In this situation, where the Tribunal has not recorded its findings on the disputed facts and these being at variance in the findings rendered by the Assistant Collector and the Collector, the only appropriate course to adopt is to remit the matter to the Tribunal for a fresh decision.
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1992 (8) TMI 87 - HIGH COURT AT CALCUTTA
Valuation (Customs) - Best judgment assessment ... ... ... ... ..... any manner whatsoever till the Customs proceedings are completed. The petitioner will, however, produce the car once on the first Monday of every month at the Customs House, 15/1, Strand Road, Calcutta between 10 A.M. and 11 A.M. for inspection by the Assistant Collector of Customs and such inspection must be completed within 1 hour s time. 14. The respondents have argued this case needlessly for 3 days. What is fun to the Department is death to an individual writ petitioner. Therefore, the respondents must pay costs of this application assessed at 200 GMs. to the petitioner and such costs must be paid within a fortnight s time. 15. The writ petition is finally disposed of as above. 16. The respondents have prayed for stay of operation of this order. In the facts and circumstances of this case, I find no reason to grant any stay and accordingly the said prayer is rejected. 17. All parties shall act on a signed copy of the operative part of this order on the usual undertaking.
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1992 (8) TMI 86 - HIGH COURT AT CALCUTTA
Valuation (Customs) ... ... ... ... ..... need to retain any security in the form of Indira Vikas Patra or otherwise so far as the claim of the Customs is concerned. Accordingly, the entire balance of Indira Vikas Patra of Rs. 24 lakhs shall be released to the appellant. 21. The Registrar, Original Side, is not entitled to claim any commission in respect of the furnishing and release of Indira Vikas Patra in terms of order passed by this Court. The Registrar, Original Side, shall return the aforesaid Indira Vikas Patra to the extent of Rs. 32 lakhs to the appellant within one week from the date of communication of this order. 22. The appeal and applications are disposed of in terms of the forgoing order. There will be no order as to costs. 23. Filing of paper book is dispensed with. Undertaking will stand discharged. 24. The Registrar, Original Side, Collector of Customs and West Bengal State Warehousing Corporation and all parties shall act on a signed xerox copy of this judgment and order. K.M.Yusuf J. . - I agree.
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