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Showing 461 to 463 of 463 Records
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1998 (4) TMI 3
Salary, Pension ... ... ... ... ..... ance was adopted but the real character of the payment was revealed by stating that such advance would only be recoverable from pension if and when paid by the Somali Government-a wholly unlikely event. In the hands of the recipients the amounts received were only towards pension that had become payable for the services rendered by them over a long period to the British Government. The amount received as pension is to be regarded as salary for the purpose of tax. The Tribunal has treated it as such and has directed the Income-tax Officer to allow the standard deduction on the amount received by the assessee as pension. We are in agreement with the directions so given by the Tribunal. The real character of the payment received by the assessee being pension, the question referred to us for our consideration has necessarily to be and is answered in the affirmative, in favour of the Revenue and against the assessee, Having regard to the case, there shall be no order as to costs.
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1998 (4) TMI 2
Investment Allowance ... ... ... ... ..... ection 80HH of the Act in respect of the processing of shrimps for exports on the basis that processing of shrimps would amount to manufacture. This court in the assessee s own case in T. C. Nos. 369 and 370 of 1987 by judgment dated April 28, 1998 (CIT v. George Maijo 2001 250 ITR 440 (Mad)), following the decision of the Supreme Court in Sterling Foods v. State of Karnataka 1986 63 STC 239 has held that the processing of shrimps would not amount to manufacture of the goods and it is not disputed by learned counsel appearing for the parties that the said judgment in T. C. Nos. 369 and 370 of 1987 (see 2001 250 ITR 440 (Mad)) would govern the facts of the present case as well. Following the said judgment of this court in T. C. Nos. 369 and 370 of 1987, dated April 28, 1998 (CIT v. George Maijo 2001 250 ITR 440 (Mad)), the question of law referred to us is answered in the negative and in favour of the Revenue. However, in the circumstances, there will be no order as to costs.
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1998 (4) TMI 1
Special Deduction ... ... ... ... ..... lusion that the processing of shrimps for the purpose of export by removing the heads and tails, peeling, deveining, cleaning and freezing, does not bring into existence a commercially new and different commodity and that the commodity remains the same before and after processing of the shrimps. As new goods are not brought into existence by the processing of shrimps at any stage of the processing frozen shrimps are neither produced nor manufactured by reason of such processing. The only answer possible and the one which we record, to the question referred to us, is that the Tribunal was in error in holding that the processing of shrimps for export amounts to production or manufacture entitling the assessee to deduction under section 80HH of the Income-tax Act. The question referred to us is answered in the negative, in favour of the Revenue and against the assessee. The Revenue shall be entitled to costs in the sum of Rs. 1,000 (rupees one thousand only) payable in one set.
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