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Case Laws
Showing 61 to 80 of 206 Records
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1984 (6) TMI 206
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... ... ..... be only descriptive or illustrative and not exhaustive. This is the view taken by the Tribunal. So long as the goods purchased by the issue of C forms had in fact been used as raw material in the manufacture of drums, then those articles should be covered by the certificate of registration, for, the raw materials for the manufacture of drums have been referred to. We are not in a position to restrict the operation of the expression raw material merely because of the following words like 26, 24 and 22 gauge CRCS sheets . If the expression raw materials, namely, 26, 24 and 22 gauge CRCS sheets , then the submission made by the learned Additional Government Pleader is possible of acceptance. But where the word like is used, it does not restrict the meaning attributable to the expression raw materials . In this view, we are inclined to agee with the Tribunal that there is no violation of section 10(b) of the Central Sales Tax Act. The tax revision case is accordingly dismissed.
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1984 (6) TMI 205
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... ... ..... by the mills to the assessee and the provisional invoices raised by the mills on the assessee is only for getting a provisional payment from the assessee. The learned counsel for the assessee would very much rely on the provisional invoices raised by the mills and the payment made by the assessee on the basis of the said provisional invoices in respect of the yarn stocks taken delivery by it. Whatever be the provisional invoice and whether sales tax is mentioned in the provisional invoice or not, the fact remains that under clauses 7 and 8 of the contract between the assessee and the mills, the assessee is holding the stocks in its hands on mills account and that the price has to be fixed by the mills. These mean that there is no sale by the mills to the assessee. We are therefore of the view that the Tribunal s finding is correct and no interference is called for with the order of the Tribunal on the facts and circumstances of the case. The tax case is therefore dismissed.
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1984 (6) TMI 204
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... ... ..... ink that the authorities below were justified in holding that the transaction in question is a contract for sale. The decision of the Andhra Pradesh High Court in S.R.P. Works and Ruby Press v. State of Andhra Pradesh 1972 30 STC 195 on which Sri Babu relied upon, is quite distinguishable. Therein the customers obtained samples from the petitioner and then placed orders giving specifications and got printed cinema tickets in different colours. On the facts found in that case, the Andhra Pradesh High Court came to the conclusion that the orders were specifically for printing and supplying of tickets and the contract was, therefore, for the purchase of tickets printed in the assessee s press. In our opinion, this case stands entirely on a different footing and has no relevance to the facts of the case before us. In the result, we allow these revision petitions and set aside the orders of all the authorities below. In the circumstances of the case, we make no order as to costs.
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1984 (6) TMI 203
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... ... ..... t is the legitimate right of the taxing authority to add to the disclosed turnover such reasonable amounts as is warranted by the facts and circumstances of the case. In a case where suppression detected itself comes to Rs. 1,79,614.00, the total addition of Rs. 3,59,230 which represents just twice the actual value of the suppressed turnover detected, could not by any reasonable standard be stated to be excessive, unreasonable or arbitrary. 6.. For the foregoing reasons, we dismiss the tax revision case. However, in the circumstances of the case, there will be no order as to costs. Immediately after the judgment was pronounced, the counsel for the petitioner made an oral request for leave to appeal to the Supreme Court. We do not find any substantial question of law of general importance, which requires to be decided by the Supreme Court. Hence leave declined. Issue carbon copy of this judgment to the counsel for the petitioner, on usual terms, if applied for in that behalf.
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1984 (6) TMI 202
Oppression and mismanagement, Company when deemed unable to pay its debts ... ... ... ... ..... nd up the affairs of the company. This argument does not appear to be correct. Section 397 requires two conditions to be fulfilled before an order is passed under that section (i) that there are acts of oppression and mismanagement and (ii) that the affairs of the company are such that it is just and equitable to wind up the company. It is only in a case where a winding up is otherwise peremptory under the just and equitable clause that the court may decide that short of winding up, a remedial procedure should be adopted under section 397. We have already pointed out that in this case both the conditions have been fulfilled. It is, therefore, not necessary for us to consider whether the petitioners are entitled to the admission of the petition under section 397 even if a case for winding up, otherwise than of acts of oppression and mismanagement, has not been made out. For the above reasons, we are of the opinion that this appeal should be dismissed and we direct accordingly.
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1984 (6) TMI 192
Meetings and proceedings - Presumptions to be drawn where minutes duly drawn and signed, Oppression and Mismanagement
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1984 (6) TMI 182
Oppression and mismanagement ... ... ... ... ..... nd subject to his convenience and arrange for passing of resolutions, the directors apart, from those passed at the monthly meetings by circulation. The special officer will be entitled to a fee of Rs. 85 per meeting to be paid by the company. Apart from the monthly meetings the parties will be entitled to call further meetings of the board of directors on notice to the special officer. The party requisitioning such further meeting will pay the fee of the special officer for the said meeting. After the disposal of Title Suit No. 19 of 1983 pending in the Alipore Court, the special officer will call a general meeting of company to elect a new board of directors and, thereafter, hand over the charge of the company to the new board. Save as aforesaid, all other interim orders are vacated. Liberty to apply. All parties and the special officer to act on a signed copy of the minute. In view of the order passed in the main application, there will be no order in the stay application.
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1984 (6) TMI 181
Winding up – Disclaimer of onerous property, etc., after commencement of, Winding up – Avoidance of transfer, etc., after commencement of
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1984 (6) TMI 165
Remuneration of directors ... ... ... ... ..... the case of management, investment, financial or other consultants not professionally qualified and not belonging to any recognized profession as such. Mr. Talyarkhan invited my attention to a decision of the Kerala High Court in R. Gac Electrodes Ltd. v. Union of India 1952 52 Comp. Cas. 288 , where, under facts and circumstances similar hereto, relief to the same effect as prayed for herein was granted. I find myself in agreement with the reasoning and conclusion therein. In this view of the matter, this petition succeeds and is allowed. The order dated July 31, 1980 (exhibit H ), is set aside and quashed. The impugned condition embodied in para 4 of the order dated June 26, 1980 (exhibit P ), is also set aside and quashed. The petitioners will be entitled to the benefit of the said order dated June 26, 1980, with the impugned condition deleted therefrom. Rule is made absolute in terms aforesaid. In the circumstances of the case, however, there will be no order as to costs.
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1984 (6) TMI 155
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... ... ..... e broad guidelines laid down by the Supreme Court in the case of Hindustan Steel Ltd. v. State of Orissa, penalty is not to be imposed merely because it is lawful to do so. However there is force in the contention on behalf of Revenue that a company of the type such as I.T.C. ought to be more careful about its accounting, particularly when S.R.P procedure is dependent wholly on a proper and detailed maintenance of accounts (in passing we note that at present cigarette factories are under Physical Control). The tobacco in the warehouse was leaf tobacco for the making of cigarettes. There is no actual evidence or removal of tobacco for use elsewhere the nearest factory is miles away. No evidence regarding manufacture of excess cigarettes has been brought out. Having regard to all the circumstances of the case, we think that the ends of justice will be met if the penalty is fixed at Rs. 60,000/- (Rupees sixty thousand only) and consequential benefit allowed. Ordered accordingly.
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1984 (6) TMI 154
Refund - Short-landing ... ... ... ... ..... age of these 34 bags. Therefore, the only question that arises for consideration is whether the appellants could claim refund of proportionate duty in respect of 34 bags which were not delivered to them and which was found missing when they were in the custody of the Port Trust authorities. 7. In a series of cases this Bench has consistently held following the decision of the Delhi High Court in Sialkot 1979 (4) E.L.T. (J 329) (Del.) that the expression ldquo lost or destroyed rdquo is used in the generic and comprehensive sense and includes the loss due to theft or pilferage. In other words it would include loss caused to the party. Having regard to the said decisions I see no ground to take a view different from the view taken in those decision. Following the decisions of this Bench in earlier cases, I allow this appeal and direct the Customs authorities to grant consequential relief to the appellants within a period of 4 months from the date of communication of this order.
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1984 (6) TMI 150
Screws - Bridge screw, lid screw, dial key screw, barrel axle screw ... ... ... ... ..... the learned Collector (Appeals) fell into error in holding otherwise. 42. ensp As mentioned in para 9 above, Shri Tayal had fairly pointed out that in case we hold the goods as covered by Item 52, the question whether the respondents were entitled to the benefit of the exemption in Notification No. 71/78, dated 1-3-1978 or No. 80/80, dated 19-6-1980 might have to be determined by the lower authorities. We find, however, that the Assistant Collector, in paras 5.4 and 5.5 of his Order dated 25-1-1982, has gone into this question in depth, and has given findings as to why the respondents could not benefit from these notifications. The respondents did not advance any reasons for differing from the Assistant Collector rsquo s orders. We, therefore, do not find any need to remand the matter for a fresh decision on this point. 43. ensp In the result, we allow the appeal, set aside the order of the Collector (Appeals) and confirm the order dated 25-1-1982 of the Assistant Collector.
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1984 (6) TMI 146
Customs - Life saving equipment ... ... ... ... ..... ible for clearance without licence in terms of Open General Licence contained in Appendix 10, List 2, Sl. No. 31. They are also eligible for duty exemption in terms of Customs Notifications 208/81, dated 22-9-1981 and 262/82, dated 30-11-1982 vide Sl. No. 32 in the list of life saving equipment rsquo s annexed to the notification. We, therefore, set aside the impugned order, allow the appeal and direct consequential relief to the appellants within 2 months from the date of communication of this order. 8. emsp We do not think that the reason given by the Collector for not accepting the licence offered for clearance of the goods (presuming the licence was valid to cover the goods) is a sound one. Even if the party had attempted to clear the goods under OGL under a misdescription (we have found that there was no misdescription), that would not be a sufficient reason not to accept a licence offered for clearance of the goods if that licence was valid otherwise to cover the goods.
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1984 (6) TMI 145
Imports - Additional licence - Import of complete T.V. set prohibited ... ... ... ... ..... to make investigation and to proceed against the writ petitioner and/or Export Houses according to law. Save as aforesaid the orders passed by A.K. Janah, J in the three writ applications are confirmed. 32. emsp The order virtually disposes of the appeals and the writ petitions. The appeals and the writ petitions are treated on day rsquo s list and are disposed of accordingly. There will be no order as to costs. 33. emsp Mr. Ghosh, learned Advocate appearing on behalf of the appellant prays for a certificate for appeal under Article 134A of the Constitution of India. In our opinion, the case does not involve any substantial question of law of general importance which may be decided by the Supreme Court. Accordingly, the prayer for a certificate is disallowed. 34. The prayer for stay of this judgment is refused. 35. emsp Let a plain copy of the operative portion of this judgment countersigned by the Assistant Registrar (Court) be given to the learned Advocates for the parties.
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1984 (6) TMI 138
Assessment Year, Immovable Property, Movable Property, Registered Valuer, Valuation Officer ... ... ... ... ..... ely no relevance as it took place in October 1979, nearly one and a half years after the last of the valuation dates, and the same cannot furnish a good measure for determining the market value of the property as on the relevant valuation dates under consideration. What has to be decided while considering the propriety or correctness of a proceeding under section 25(2) is whether the Commissioner had rightly assumed jurisdiction under that provision with reference to the facts and circumstances existing as on the date of the assessment. Considered in the light of the above-mentioned decisions and the facts and circumstances obtaining in this case, we are of the opinion that the WTO s action in accepting the registered valuer s report while completing the wealth-tax assessments cannot be considered to be erroneous. We are, therefore, unable to sustain the order of the Commissioner under section 25(2). Accordingly, we cancel the same. 10. In the result, the appeals are allowed.
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1984 (6) TMI 137
Advance Tax ... ... ... ... ..... for such tax paid. The question whether the tax paid in pursuance of the estimate filed on 24-8-1979 should have been accorded the treatment of advance tax or otherwise, is debatable and therefore, it is not available to the ITO to rectify an earlier mistake made in this regard as if it was apparent from the record. We are also fortified in coming to this decision with reference to the order of this Bench in IT Appeal Nos. 595 and 596 (Bang.) of 1982 dated 14-2-1984 in which it was held that interest allowed to the assessee under section 214 of the Act in a higher sum could not be later rectified so as to reduce the same, treating the same, as if it was a mistake apparent from the record in view of the difference of opinion amongst Courts as to the date up to which such interest could be granted. 6. Having due regard to the above considerations, we uphold the order of the Commissioner (Appeals) cancelling the ITO s order passed under section 154, though for different reasons.
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1984 (6) TMI 134
Expenditure On Advertisement ... ... ... ... ..... ed before, sub-sections (3) and (3A) refer only to the disallowances and the fact that the expenditure has not been disallowed under sub-section (3) cannot be treated as if it had been allowed as a deduction and not liable to be governed by the ceiling prescribed under sub-section (3A). The expression without prejudice has to be understood only in the context and reading the words without prejudice to the provisions of sub-section (3), as a whole, it can only be understood as allowing the play of sub-section (3) in addition to the operation of sub-section (3A). In other words, the expenditure in question has to be governed by both the provisions and the fact that it is not disallowed under one of these sections cannot mean that it would escape from the operation of the other sub-sections. In the circumstances, we are not convinced by any of the arguments of the assessee and we have no hesitation in confirming the order of the Commissioner (Appeals). The appeals are dismissed.
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1984 (6) TMI 133
Income Tax, Net Wealth, Tax Liability, Valuation Date ... ... ... ... ..... jewellery valued in that order at Rs. 4,47,000 which leaves practically nothing for being added to the net wealth. In respect of the valuation dates after 1976 also, even though the tax liability would have been reduced, the jewellery was subject to the order of confiscation made by the Collector of Central Excise and Customs on 3-2-1979 and was in the custody of that department. In that situation, it is hardly possible to imagine any willing buyer to pay equal value for purchasing the jewellery in question. In such a situation, in these valuation dates also, until the actual release of the jewellery we do not think there will be any justification for adding the value of such jewellery. We are, therefore, of the opinion that the entire value of the jewellery has to be excluded from the computation of the net wealth in the case of both the assessees for all the valuation dates. In that view, we direct the WTO to recompute the net wealth accordingly. 6. The appeals are allowed.
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1984 (6) TMI 130
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... ... ..... ble on the total income as determined on regular assessment after taking into account the advance tax paid and tax deducted at source and that the fiction of treating the registered firm as URF under Explanation 2 could be pressed into service only if there is tax payable by the registered firm on regular assessment. Our attention was also invited to the decision of the Madras High Court in (1978) 113 ITR 99(Mad)(Addl. Commissioner v. Murugan Timber Depot) in which it was held that penalty under section 271(1) could not be levied when there was no tax payable as such by the registered firm. Respectfully following the cited decision of the Special Bench, with which we agree, we are of the view that in the circumstances of the case interest under section 139(8) is not leviable on the two assessee-firms, since no tax was payable by them resulting from the assessment, the advance tax paid by them being in excess of the tax demand. In the result the assessee s appeals are allowed.
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1984 (6) TMI 127
Assessment, Time Limit For Completion ... ... ... ... ..... an objection to such a finding or direction would arise where an assessment is raised on the person concerned, following the said finding and direction. He would be the person aggrieved and it could be said that it would be for that person to raise objections to the legality of that finding and direction. In this case, such person would be Babulal Nema, the individual. So far as the present assessee is concerned, we do not see that it is or can be said to be aggrieved in any manner. On this ground alone, we would reject the contentions of the assessee. There is of course the point made by the learned counsel for the assessee that the AAC s finding is wholly wrong on merits in the light of the Full Bench decision of the Madhya Pradesh High Court in Krishna Kumar s case. This too would be of relevance if and when an assessment is sought to be made on B.L. Nema, individual, following the AAC s direction. The result is, we see no merit in this appeal. 10. The appeal is dismissed.
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