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Case Laws
Showing 101 to 120 of 142 Records
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1993 (5) TMI 46 - ITAT BOMBAY-A
Adventure In The Nature Of Trade, Assessing Officer, Business Income, Capital Gains, Ground Rent, Income From Business
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1993 (5) TMI 45 - ITAT BANGALORE
Assessing Officer, Deduction In Respect ... ... ... ... ..... to be not due to any prima facie adjustment. We are, however, of the view that the assessee wrongly stated its book profit to be the net profit as per profit and loss appropriation account after deducting depreciation relating to earlier years and to that extent adjustment made by the Assessing Officer by adding back that amount to the figure shown by assessee can be considered to be an adjustment relating to a prima facie error and hence levy of additional tax should follow on account of that adjustment. Hence, the levy of additional tax on the adjustments, if any, sustained after carrying out our directions as given above, is being confirmed in principle, although, at the same time, the assessee would be entitled to consequential relief in the amount of additional tax as a result of the reductions to be made out of the net total income ultimately computed on the basis of this particular order. 11. In the result, the appeal is partially allowed to the above-mentioned extent
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1993 (5) TMI 44 - ITAT AHMEDABAD-C
Capital Gains, Chargeable As, Accrual Of Income, Income ... ... ... ... ..... f the assets adopted by the valuer in the said report and had no adverse comments in relation to the said valuation report. It is well established that revaluation of assets does not result in realisation of income by the partners see CIT v. Hind Construction Ltd. 1972 83 ITR 211 (SC) . On the basis of the principles laid down in the decisions to which our attention has been drawn on behalf of the assessee, it must be held that the amounts credited on 1-1-1981 in the capital accounts of the partners on revaluation of assets do not represent short-term capital gains for assessment year 1982-83 on dissolution of the firm and that amounts credited on 31-3-1981 in the capital accounts of the partners in respect of technical know-how do not represent income of the partners for assessment year 1982-83 as held by the ITO. We hold that on dissolution of firm there has been no transfer of any capital assets. We reject the ground raised by the department. 16. The appeals are dismissed.
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1993 (5) TMI 43 - ITAT AHMEDABAD-A
Assessing Officer, Beneficiaries Unknown, Chargeable To Tax, Discretionary Trust ... ... ... ... ..... to the cardinal principle of avoiding double taxation the amounts, if any, which have suffered taxation at maximum marginal rate in the hands of the main trusts would not be again brought to tax in the hands of the second level trusts. 15. This brings us to the assessment of the BOIs and we have held by explaining the principle enunciated above in the immediately preceding para regarding the necessity of avoiding double or multiple taxation, it has to be held that the incomes or parts of income which have been brought to tax in the hands of main trusts or the second level trusts at the maximum marginal rate would not be again taxed in the hands of BOIs. 16. For the cases of individuals again the principle of the immediately preceding two paras needs to be further extended for holding that the said assigned incomes brought to tax in the hands of the main trust or second level trust would not be includible in the hands of any individual. 17. Assessee s appeal is partly allowed
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1993 (5) TMI 42 - GOVERNMENT OF INDIA
Duty Drawback ... ... ... ... ..... nto consideration by the Directorate of Drawback while fixing the brand rate is based on a presumption which clearly and ex facie wrong and therefore it is not tenable. 8. As regards the second contention that the goods were exported as spares of the main item and therefore are not eligible for drawback claim, Government observe that the spares had not undergone any manufacturing process after importation thereof. This is also the submission of the party that no manufacturing activity has taken place in respect of spares. Government note that the spares have been re-exported as such. In the facts and circumstances of the case Government are inclined to agree with the submission made by the applicants that they are entitled for drawback under Section 74 for the spares and Collector (Appeals) findings are correct. 9. In view of the said discussions Government are not inclined to interfere with the impugned order-in-appeal. The same is upheld and the review proposal is rejected.
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1993 (5) TMI 41 - GOVERNMENT OF INDIA
Rebate of duty ... ... ... ... ..... facturers have clearly certified that they have no objection for the refund of Central Excise duty to the exporter from whom they collected the same. As a matter of fact at various places the Board have themselves mentioned of the practice of permitting rebates to exporters even though the duty had been paid by the manufacturers/wherehouse owners who are not the exporter for instance Circular No. 17/81-CX-6 from F. No. 211/49/80-CX-6 dated 18th February, 1981). 5. In the result Government feel that particularly as export needs encouragement and there is no doubt about the goods having been exported under the AR 4A procedure it shall be denial of justice if rebate is not sanctioned in such a case. Therefore review proceedings are dropped and the order-in-appeal dated 2-2-1989 is upheld. As regards the six revision applications filed by the Respondents these also succeed. The Assistant Collector will proceed to scrutinise and sanction the same, if these are otherwise in order.
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1993 (5) TMI 40 - GOVERNMENT OF INDIA
Rebate of duty ... ... ... ... ..... f exports presupposes export of goods without their being brought into a factory. Likewise clause B(b) ibid does not deal with exports but only with refund on return of goods into a factory. 7. Nevertheless the fact remains that goods have been exported and encouragement to exports is crying need today. The only way in which the instant export can perhaps be regularised now is to examine the case under proviso to Rule 12 of Central Excise Rules by the Collector. 8. In the circumstances of the case and in the interest of the export Government set aside the orders of both the lower authorities and remit the case to the Assistant Collector. He shall put up the same to the Collector for consideration whether he will like to allow the claim by condoning non-compliance of some conditions of the notifications issued under Rule 12 i.e. the goods had not been exported directly from a factory or a warehouse and then decide the claim on merit. The review proposal is decided accordingly.
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1993 (5) TMI 39 - GOVERNMENT OF INDIA
... ...
... ... ..... er to do so when prima facie goods appear to be of natural/human origin, that do not attract duty. 4. It was, therefore, incumbent on the part of the applicants to have supplied the information as was sought by the Original Authority. Thus, prima facie, Government do not see any infirmity in the orders of the lower authority, in rejecting the applicants drawback claim as they, by their own act, had failed to supply the necessary information sought by the lower authority. Even at the revisionary stage, they have expressed their inability to do so. The case laws cited by them are also not relevant to the present proceedings as the issue decided therein was duty-paid character of the goods available in the market, whereas the issue involved in the present proceedings is determining the quantum of duty incidence suffered by inputs used in the manufacture of exported goods. In the light of the above discussions, there is no merit in the revision application and it stands rejected.
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1993 (5) TMI 38 - GOVERNMENT OF INDIA
Rebate of duty - Limitation ... ... ... ... ..... uch as in the two cases, (at Sr. Nos. 2 and 3) the period of six months with reference to Section 11B had not expired by 9-6-1989 and by the said amendment Collector could condone the period as the same no more drew sustenance from Section 11B, the powers of the said proviso have rightly been made use of by Collector (Appeals). However, in respect of Sr. No. 1 the power could not be exercised by her. 20. Even on merits, particularly as we are dealing with exports, condonation of marginal delay in filing claims in respect of Sr. No. 2 and 3 is justified and order of Collector (Appeals) in that regard is upheld. However, claim at Sr. No. 1 was time-barred and fell in the category of dead remedy on 9-6-1989 and order-in-appeal in respect thereto is without jurisdiction and thus set aside. 21. In view of the above discussions, Government modify the order-in-appeal in above form and the proceedings initiated by issue of show cause notice dated 2-7-1991 are disposed of accordingly.
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1993 (5) TMI 37 - CEGAT, NEW DELHI-LB
Appellate Tribunal - Reference to Larger Bench - Project Imports
... ... ... ... ..... with the conclusion reached by learned Member (Technical), the President, and the Vice President that the goods imported in this case will not fall for classification under Heading 98.01 CTA and the appeal be therefore rejected. 61. Order per G.P. Agarwal, Member (J) . -I have had the advantage of going through the Order proposed by my learned brother, Shri N.K. Bajpai, Technical Member (as he then was) and concurred by the other learned Members on the Bench. I agree with S/Sh K.S. Venkataramani and N.K. Bajpai, learned brothers, that the existence of a contract for the import of the consignments and the registration thereof in the Custom House prior to clearance is a SINE QUA NON for classification under Heading 98.01 CTA. Accordingly, I too hold that the goods imported in the present case do not qualify for assessment as auxiliary equipment and, therefore, the benefit of concessional duty under Heading 98.01 cannot be extended to them. Consequently, the appeal is dismissed.
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1993 (5) TMI 36 - SC ORDER
Stay/Dispensation of pre-deposit ... ... ... ... ..... ed in the Tribunal, within a period of four weeks from today. If the appellant deposits the said amount within this period the order passed by the Tribunal would stand set aside and the appeal will be heard by the Tribunal on merits. In case the appellant fails to deposit the amount within the aforesaid period, this appeal shall stand dismissed. 5. Permission is granted to move the Tribunal for expeditious disposal of the case. 6. The appeal is disposed of accordingly.
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1993 (5) TMI 35 - CALCUTTA HIGH COURT
... ...
... ... ..... capacity of being extended to about four times of its original length and further its power to revert to its original length when extended to twice the original length if released after extension. The only gap in the results of the said test is that unlike synthetic rubber, the imported item, i.e., Hypalon 40 was a fully saturated substance, if we go by the report of testing by the customs authorities, But that by itself does not preclude the classification of the item as synthetic rubber when it has all the functionalities and properties of synthetic rubber. 11.In this view of the matter, it is clear that both in the commercial world as well as on scientific test being carried out by I.I.T., Kharagpur, Hypalon-40 was known and/or found to contain qualities of synthetic rubber. 12.We, therefore, find no merit in the appeal filed by the appellants herein. The appeal is accordingly dismissed. 13.There will be no order as to costs. 14. Order per Shyamal Kumar Sen, J . - I agree.
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1993 (5) TMI 34 - HIGH COURT OF JUDICATURE AT ALLAHABAD
MODVAT Credit - Words and Phrases - 'Used' and 'consumed' ... ... ... ... ..... former is exigible at the same rate of duty which is applicable to the latter whether spent acid like concentrated sulphuric acid, could be cleared only on payment of duty - all these questions are left open for consideration of the respondents and we refrain from giving any finding on these questions, as we have not touched upon them during the hearing. The respondents may pass an appropriate order levying excise duty on spent acid, if the same cleared illegally without payment of duty. 16. We restricted ourselves to the hearing of only one question raised in the impugned notice whether or not the sulphuric acid applied to the manufacturing process, could be said to have been used in the manufacturing and if so, whether the respondents rightly sought to recover MODVAT credit, already allowed to the petitioner on such input. 17. Subject to the aforesaid observations, the petition is allowed and the impugned notice dated 28-11-1991 (Annexure 6 to the writ petition) is quashed.
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1993 (5) TMI 33 - HIGH COURT OF MADHYA PRADESH, INDORE BENCH
Demand - Limitation - Jurisdiction ... ... ... ... ..... material facts were suppressed by the petitioners or there was any misrepresentation on their part with the intention to evade duty. The extended period of limitation under the proviso to Section 11A of the Act is therefore clearly inapplicable in the facts and circumstances of the case in the light of the pronouncement of the Supreme Court in Collector of Central Excise v. Chemphar Drugs and Liniments and Padmini Products v. Collector of Central Excise (supra). In the result, we find that the impugned show cause notice has been issued beyond the period of limitation of six months and there being no justification for application of extended period of 5 years of limitation under the proviso to Section 11A of the Act. The show cause notice is without jurisdiction. We have no option but to quash it. The show cause notice F. No. V(22) 15-2/90/Adj./21251 dated 19th/21st September 1990 is hereby quashed. In the circumstances of the case we leave the parties to bear their own costs.
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1993 (5) TMI 32 - HIGH COURT AT CALCUTTA
Textile Machinery - Customs ... ... ... ... ..... all relevant decisions, notifications etc. which has made the task of the Court in delivering judgment that much easier. Matter No. 3729 of 1992 In the High Court at Calcutta Constitutional Writ Jurisdiction Original Side Before The Hon ble Mrs. Justice Ruma Pal 11-5-1993 Daga Nylomet Private Limited v. The Assistant Collector of Customs and Others Mr. S.K. Bagaria mentions judgment dated 3rd May, 1993. Mr. Prantosh Mukherjee appears and submits. The Court In view of the decision allowing the writ application, the bank guarantee given by the writ petitioner will be cancelled and returned by the Customs authorities to the petitioner. Let a xerox copy of the judgment dated 3rd May, 1993, duly signed by the Assistant Registrar of this Court, be given to the parties upon their undertaking to apply for the certified copy of the judgment and on payment of usual charges. All parties are to act on a signed copy of the minutes of this order on the usual undertaking. Sd/- Ruma Pal, J.
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1993 (5) TMI 31 - HIGH COURT OF JUDICATURE AT ALLAHABAD
Modvat Credit ... ... ... ... ..... rder of date held that duty paid input having been physically involved in the manufacture of final product, Modvat credit already allowed thereon, cannot be said to have been wrongly allowed and hence can not be recovered by the impugned notice. 3. Following the said decision, we uphold the contention of the petitioner. 4. The petition, therefore, succeeds and is allowed and the impugned notice dated 4-11-1991 (Annexure 6 to the petition) is quashed.
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1993 (5) TMI 30 - HIGH COURT AT CALCUTTA
Warehoused goods (Customs) - Interest on duty ... ... ... ... ..... under Section 61 shows that only the Board is competent to waive interest. No application appears to have been made by the petitioner to the Board for such waiver. 38. In the decision of Birla Jute and Industries Ltd. (supra), I had held in connection with instructions issued under Section 37(B) of the Central Excises and Salt Act that the instructions were binding on the Central Excise Officers but not on the assessee nor on any quasi-judicial or judicial authority. The Respondent No. 3 therefore was bound to obey the public notice and could not act otherwise. 39. For the reasons aforesaid the writ application is disposed of by directing the Customs Authorities to release the balance LDPE Granules to the petitioner subject to the petitioner making payment of interest at the rates of duty as applicable from time to time after the expiry of the statutory period under Section 61 under the unamended provisions of Section 61(2) of the Act. 40. There will be no order as to costs.
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1993 (5) TMI 29 - SUPREME COURT
Classification of goods - Exemption ... ... ... ... ..... phorous bronze which was prepared from the solution of copper, tin, phosphorous and lead. Phosphorous and lead are not mentioned in the notification. They are deliberately added by the assessee as per agreement between the parties. The sale is, therefore, prima facie liable to be taxed. 5. We were referred to various dictionary meanings of the words Phosphorous Bronze which have been noticed by the learned Judge dealing with me case in the High Court. We are really concerned with the interpretation of the entry. The emphasis in the entry is - either it should be pure copper, tin, nickel or zinc and if it is an alloy containing two or more metals, it must be an alloy containing these metals only. The expression only is very material for understanding the meaning of the entry. Since the alloy in dispute contains Phosphorous, may be in a very small quantity, it cannot fall within Entry 2(a) of the aforesaid Notification. The appeal consequently fails and is dismissed with costs.
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1993 (5) TMI 27 - SUPREME COURT
Whether the photographic machinery imported by the appellants falls under Customs Tariff Heading No. 98.01?
Held that:- we cannot say that the Parliament has, by empowering the Board to define the expression "industrial plant" occurring in Chapter 98, delegated its essential legislative function. Indeed, we see no self-abnegation on the part of the Parliament. The power conferred by ChapterNote (2) is undoubtedly different from the power of exemption conferred by Section 25. It makes little difference in principle that while an exemption notification is required to be laid on the floor of the Parliament, regulations made under Section 157 are not so required. Absence of such requirement does not mean absence of control by the Parliament over the acts of the delegate. Nor are we satisfied that by excluding the industrial systems meant for establishments designed to offer services of any description, the Board has travelled beyond its brief. The appeals fail and are dismissed.
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1993 (5) TMI 25 - HIGH COURT AT CALCUTTA
Provisional assessment (Customs) - Precedent ... ... ... ... ..... s may be directed by the authorities concerned. The authorities will indicate the nature of the bond to be executed by the petitioner within a period of fortyeight hours from date. Upon the petitioner s executing the bond in the manner required, the Customs Authorities will release the umbrella panels to the petitioner. It is made clear that the decision will not stand in the way of the Customs Authorities making inquiries and proceeding against the firm, if so advised, in respect of the consignment in question on the grounds of under-invoicing provided that there is material for it to do so. As no affidavit in opposition has been used, it is recorded that the allegations contained in the petition are not admitted. The learned Advocate, appearing for the respondents, prays for stay of the operation of this judgment which is granted for two days from date. 18. All parties concerned are to act on a signed copy of the operative portion of this judgment on the usual undertaking.
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