|
Advanced Search Options
Case Laws
Showing 341 to 360 of 460 Records
-
1997 (1) TMI 122 - ITAT CALCUTTA-C
Penalty, Concealment Of Income ... ... ... ... ..... act that earlier to these assessment years the assessee was showing the income from both the concerns even though controlled by same person and only one certificate was issued. The revenue could have even brought on record the material to prove that the assessee was in the habit of preparing the bank summary where the receipts from these two concerns were shown separately and could not escape attention of person with reasonable care. But this has not been done. In my opinion, it does happen that when one-deals with one person, he may be having several concerns for tax and other purposes but the dealings will be with only that person and when that person is requested to issue the certificate of royalty for the income-tax purpose and if that person issues only one certificate without any further clarification, then mistake is likely to creep in without any intention. The matter will now go to the Division Bench to pass the appropriate order in accordance with majority decision.
-
1997 (1) TMI 120 - ITAT CALCUTTA-C
Assessing Officer, Assessment Order, Assessment Year, Orders Prejudicial To Interests, Previous Year, Triple Shift Allowance
-
1997 (1) TMI 119 - ITAT CALCUTTA-C
Assessing Officer, Assessment Year, Charitable Or Religious Trust, Voluntary Contributions ... ... ... ... ..... owed by the Bombay High Court in the case CIT v. Trustees of Kasturbai Scindia Commission Trust 1991 189 ITR 5/57 Taxman 38. The position after the amendment is a fortiori. In the present cases the Assessing Officer on evidence has accepted the fact that all the donations have been received towards the corpus of the endowments. In view of this clear finding, it is not possible to hold that they are to be assessed as income of the assessees. We, therefore, hold that the assessment of the corpus donations cannot be supported. 12. For the above reasons, we hold as under 1. The religious endowments are not invalid on the ground that neither the temple nor the image had been consecrated at the time of creating the endowments. 2. The assessees have to be assessed in the status of individual since they are artificial juridical entities and 3. The voluntary contributions received by the assessees towards the corpus cannot be brought to tax. 13. In the result, the appeals are allowed.
-
1997 (1) TMI 118 - ITAT BANGALORE
Assessing Officer, Assessment Year, Business Expenditure, Cash Credits, Foreign Currency, Foreign Enterprise, Foreign Exchange, Mercantile System, Revenue Expenditure, Work In Progress
-
1997 (1) TMI 117 - ITAT ALLAHABAD-A
Assessment Year, Chargeable To Tax, Income From Other Sources, Set Off ... ... ... ... ..... s appeal excepting that the return for the assessment year 1987-88 filed by the assessee was regular return and accepted by the department under section 143(1) on 9-3-1990. Proceedings under section 147 for this year were issued by notice dated 18-4-1991. The learned Dy. Commissioner of Income-tax (Assessment), Special Range-I, Lucknow, subjected the following amounts to tax ---- Rs.(a) Interest earned 13,38,120(b) Miscellaneous receipts 2 --------- 13,38,122 --------- 33. Following her earlier order, the learned CIT(Appeals) subjected the interest amount of Rs. 13,38,120 to tax, excluded the amount of Rs. 2 from the assessee s income. There being no distinguishing feature in the facts of these two years our decision rendered for the assessment year 1986-87 shall mutatis mutandis apply to this year and the interest receipt would similarly remain liable to be set off against interest paid by the assessee during the corresponding period. 34. In the result, appeals are allowed.
-
1997 (1) TMI 116 - ITAT AHMEDABAD-B
... ...
... ... ..... sical well-being which is a sine qua non of a healthy society. The dominant object in the instant case being charitable in nature the assessee was entitled to exemption from taxation under s. 4(3)(i) of the Indian IT Act, 1922. The above ruling of the Madras High Court favours the assessee and not the Revenue as wrongly held by the CIT(A). The assessee before us is a genuine charitable trust with the laudable objects of promoting Education and ancient language of this country viz. Sanskrit and other objects as detailed in para-2 above. We are accordingly unable to agree with the findings of the CIT(A) which are not based on correct appreciation of law. 7. In the light of above discussion, we reverse the findings of the authorities below and hold that the assessee Trust is a genuine charitable Trust entitled to exemption under ss. 11 and 12 of the Act and further it is not liable to pay tax on capital gains during the year under appeal. 8. In the result, the appeal is allowed.
-
1997 (1) TMI 115 - SC ORDER
... ...
... ... ..... sued orders on 3-1-1997 stating that any exporter who has violated the conditions of non-availment of Modvat Credit, reverses the Modvat Credit along with specified interest on or before 31-1-1997, no action will be taken against him and the import licences shall be deemed to be in order. 2. In this view of the matter, we do not think that any purpose will be served in considering with this petition. The matter is dropped at this stage. Let the law takes its own course.
-
1997 (1) TMI 114 - HIGH COURT OF JUDICATURE FOR RAJASTHAN AT JODHPUR
Recovery - Words and phrases ... ... ... ... ..... reparations, plant, machinery, vessels, utensils, implements and articles in the custody of possession of the person or persons succeeding the interest are liable to excise duty and the Department was entitled to confiscate them. That being the position, the plants and machinery can be proceeded against. However, the petitioner may agitate this between itself and the Corporation as to who is to bear the burden ultimately. They may have to be passed on to the predecessor-in-title M/s. Diamond Marbles Pvt. Ltd. However, the petitioner may agitate this between itself and the Corporation as to who is to bear the burden ultimately. They may have to be passed on to the predecessor-in-title M/s. Diamond Marbles Pvt. Ltd. However, to answer that question interpretation of agreement Ex. 1 needs to be done which cannot be done in proceedings under Article 226 of the Constitution. That being the position, there is no merit in the writ petition and the same is hereby dismissed summarily.
-
1997 (1) TMI 113 - SUPREME COURT
Valuation (Central Excise) - Job work ... ... ... ... ..... ases where the job work results in processing forgings supplied by the suppliers converting themselves into connecting rods of different sizes, the exercise will have to be undertaken by the authorities under the Statute. The facts in the instant case are clear, namely, that the assessees engage in job work by processing forgings supplied to them into connecting rods of different sizes. In such a situation, how the value is to be determined will be the subject matter before the authorities under the Statute. They will have to determine the value as per the law settled by this Court by different decisions rendered in this behalf. We would, therefore, only modify the order of the High Court by saying that the authorities may determine the value as per the law as explained by this Court and thereafter consider the question of application of the exemption notification dated 1st March, 1979. 4. With this modification, we dispose of this appeal. There will be no order as to costs.
-
1997 (1) TMI 112 - SUPREME COURT
Refund - Limitation - Protest ... ... ... ... ..... ty, which is claimed by way of refund, to another person. In case the applicant for refund is a company or a society, the affidavit shall be sworn by the Managing Director or the Principal Officer of the Company or the Society, as the case may be. Such an affidavit shall be treated as an averment/assertion which an applicant for refund has to make in terms of the judgment in Mafatlal. (ii) So far as the period of March 1, 1975 to February 11, 1980 is concerned, the original authority shall first determine whether the payment of duty was under protest. Depending upon the finding recorded in that behalf, the matter shall be governed by the law laid down in Mafatlal and in case it is found that the payment is under protest, it will be governed by the decision in Mafatlal read with clause (6) of the format order. (iii) So far as the period February 11, 1980 to July 18, 1981 is concerned, the claim for refund is rejected. 2.The appeals are disposed of in the above terms. No costs.
-
1997 (1) TMI 111 - SC ORDER
Refund - Limitation ... ... ... ... ..... as preferred beyond the period of six months prescribed by the Central Excises and Salt Act , 1944 for filing the refund claim. In this view of the matter, the appeal is allowed and the judgment of the High Court is set aside. The Revenue shall be entitled to enforce the bank guarantee and shall be entitled to recover the duty due in accordance with law. 2. No costs.
-
1997 (1) TMI 110 - SC ORDER
Writ jurisdiction - Refund - Limitation ... ... ... ... ..... the respondent for the period beyond six months saying that it is barred by limitation prescribed by law. Against this order, the respondent filed a writ petition in the Bombay High Court which has been allowed. The High Court has directed that the application for refund even for the period March 1, 1975 to November 28, 1978 be also considered on merits without taking into consideration the question of limitation. 4. It is obvious now that in the light of the judgment in Mafatlal Industries v. Union of India 1997 (89) E.L.T. 247 (S.C.) 1996 (9) SCALE 457 , the direction given by the High Court cannot stand. Accordingly, the judgment of the High Court is set aside and the appeal is allowed. 5. No costs.
-
1997 (1) TMI 109 - SC ORDER
Stapling machines ... ... ... ... ..... ch as under both the said Tariff Items the rate of duty is identical. 2. We may also note that so far as the countervailing duty is concerned, no argument has been addressed before us by the learned Counsel for the appellant and, therefore, we do not propose to go into that aspect. 3. The appeal is allowed to the extent indicated above, viz., that the machine in question was not classifiable under Tariff Heading 84.51/55 but either under 84.32 or 84.66. 4. No. costs.
-
1997 (1) TMI 108 - SC ORDER
Valuation (Customs) ... ... ... ... ..... f interest did not go to the seller but to the banker it reached the conclusion that the interest did not swell up the price of goods but was on account of the 120 days time allowed to the assessee. The Tribunal was right in holding that the price continued to be U.S. Dollars 556.75 per M.Ton and, therefore, this contention was rejected. So far as the second contention is concerned it may be mentioned that when it was realised that the redemption fine was based on the notes of the Collector which could not be described as evidence, only alternative left to the Tribunal was to remit the matter to the authority below but on being persuaded by Counsel to estimate the redemption fine the Tribunal worked it out at 35 considering that to be a reliable estimate of the margin or profit at the material time. We see no reason to interfere with this estimate arrived at by the Tribunal. For the above reasons, we see no merit in this appeal and dismiss the same with no order as to costs.
-
1997 (1) TMI 107 - SUPREME COURT
Refund - Bar of unjust enrichment ... ... ... ... ..... dustries and the format order enclosed herewith, the only order that can be passed is that it shall be open to the appellants to file an appeal before the Commissioner of Central Excise (Appeals) within sixty days from today against the order of he Assistant Collector dated 29-1-1988. The order of the High Court awarding interest is, however, set aside. The question of interest shall be considered and disposed of by the Commissioner (Appeals) according to law. 8.The bank guarantees furnished by the appellants shall be kept alive for a period of two months from today. After the expiry of the said period of two months, the appellant shall be liable to pay back the amount drawn out by them to the department, subject of course, to any order of stay by the appellant (sic) authority. Meanwhile, if the bank guarantees are not renewed before one month of their expiry, the bank guarantee can be encashed by the Revenue. 9.The appeals are disposed of with the above directions. No costs.
-
1997 (1) TMI 106 - HIGH COURT OF MADHYA PRADESH AT INDORE
Writ jurisdiction ... ... ... ... ..... diction of this Court under Article 226/227 of the Constitution is not permissible. The petitioner is however, free to bring to the notice of the appellate authority the two decisions in the cases of Singh Alloys and Bajaj Auto (supra). There can be no manner of doubt that the appellate authority while deciding the appeal shall take into consideration these decisions. 8. In the result the petition is disposed of with the directions as under (A) Without touching the merits of the petition the petitioner is granted liberty to file appropriate appeal against the order impugned. If appeal is filed within 2 months from today, the respondent shall not oppose the appeal on the ground of bar of limitation (B) The interim stay passed by this Court on 14-5-1992 shall remain operative till expiry of the said period of 2 months or till filing of the appeal whichever is earlier and (C) The parties are left to bear their own costs as incurred. Cc within 3 days on payment of usual charges.
-
1997 (1) TMI 105 - HIGH COURT OF GUJARAT
Stay/Dispensation of pre-deposit ... ... ... ... ..... Three months time is itself a sufficient protection particularly when the Commissioner (Appeals) is required to decide stay application within one month from the date on which the same is filed. 23.Further, in case any step towards coercive recovery is initiated in the meantime, the party should approach the appellate authority for urgent orders, pending the hearing and decision of the stay application or application under Section 35F for dispensing with the requirement of pre-deposit. 24.Further, it is made clear that it will be open for the forum to pass ad interim orders on stay applications within four weeks and, if necessary, to keep the stay application pending for passing further orders of granting and/or refusing, modifying and vacating the interim orders. 25.In the result, these petitions are allowed. Rule is made absolute by directing the authorities that they shall decide the stay applications within four weeks and till then coercive recovery shall not be enforced.
-
1997 (1) TMI 104 - SUPREME COURT
Why assessee should not be charged duty at the unexempted rate on the ground that the width of the said strips was in excess of that permitted by the said exemption Notification No. 256-Cus./76?
Held that:- Where power under Section 25(2) is exercised to grant a special exemption from payment of duty, under circumstances of an exceptional nature to be stated in such order, we would have expected the respondents to state on affidavit what it was that moved them in the public interest to grant such exemption and what was the exceptional nature of the circumstances that attached to the imports made by the said mills. Having regard to the determined stand of the respondents not to state their case on paper, we must assume that there was neither any public interest nor any exceptional nature involved and that others placed in circumstances similar to that in which the said mills were placed must have the same benefit as was advanced to the said mills. Appeal allowed.
-
1997 (1) TMI 103 - SUPREME COURT
Refund claim ... ... ... ... ..... he claim for refund which was filed by the respondent-assessee on December 22, 1986 shall now be dealt with and disposed of in the light of the judgment in Mafatlal Industries v. Union of India 1997 (89) E.L.T. 247 (S.C.) 1996 (9) SCALE 457 , as per Clause (6) of the format order (copy enclosed) which reads as follows Where a refund application or an appeal is preferred under and in accordance with the directions (1), (2), (3) and (4) above, the same shall be entertained only if the applicant for refund/appellant files affidavit stating that he has not passed on the burden of the duty, which is claimed by way of refund, to another person. In case the applicant for refund is a company or a society, the affidavit shall be sworn by the Managing Director or the Principal Officer of the Company or the Society, as the case may be. Such an affidavit shall be treated as an averment/assertion which an applicant for refund has to make in terms of the judgment in Mafatlal. 3. No costs.
-
1997 (1) TMI 102 - SC ORDER
... ...
... ... ..... urden of the duty has been passed on to him, the duty must be refunded to him. The said application has been dismissed by the High Court against which the present appeals are filed. According to the decision in Mafatlal Industries v. Union of India 1997 (89) E.L.T. 247 (S.C.) 1996 (9) Scale 457 the appropriate course for the appellant, if it is so advised, is to file a refund application under Section 11B according to law within sixty days from today provided the writ petition was filed within six months of the date of payment of duty by the first appellant. If such application is filed, it shall be dealt with according to law as declared in the said judgment. 2. The appeals are disposed of accordingly. No costs.
............
|
