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Showing 141 to 160 of 236 Records
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1981 (1) TMI 96 - ITAT CALCUTTA
... ... ... ... ..... ause for the delayed filing of the returns for the years under considerations. This fact is accepted even by the Department, because in the orders under s. 117A of the IT Rules, 1962, waiving the interest under s. 139(8) dt. 2nd Sept., 1978, the ITO had accepted that the legal representative had sufficient cause for not furnishing the returns for the years under consideration in time. Copies of these orders are pages 4 and 5 of the Paper Book filed by the appellant before us. Those orders also show that the IAC had waived charging of interest under s. 217 by accepting the fact just stated herein before. We, therefore, on the facts and in the circumstances of the case, agree that the delay in the filing of the returns for the years under consideration were due to reasonable causes, as explained above. The penalties are, therefore, not exigible in the present case. We held likewise. 6. In the result, the appeals by the legal representative of the deceased assessee are allowed.
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1981 (1) TMI 95 - ITAT CALCUTTA
... ... ... ... ..... cross examine the Deptl. Officer to establish if possible that the valuation returned by him for each of the years was correct or not. That was not done. The AAC has also made a short-cut of the whole issue by observing that If the property was not referred to valuation cell he should adopt the value disclosed by the appellant for these assessment years. This, in our opinion, is not a proper disposal of the appeals. We, therefore, set aside the impugned order of the AAC and that of the WTO in respect of the evaluation of the interest of the assessee in the said property and restore the matter to the WTO for deciding the said question afresh in accordance with law. The WTO in those proceedings will permit the assessee to cross-examine the Deptl. Valuation Officer to give evidence, if any, in support of his valuation. Thereafter, the WTO will decide the question of the valuation afresh in accordance with law. 5. For statistical purposes the appeals by the Dept. are dismissed.
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1981 (1) TMI 94 - ITAT BOMBAY-E
... ... ... ... ..... d allowed the producers/distributors to write off the cost in the first year itself. Even the basis for framing Rule 9A, which now governs amortisation is on the acceptance of the fact that feature films have short life. Therefore, the mere mention that the agreement is for a period of 11 years is of no consequence. It has to be treated as a short term temporary partnership. 23. The next issue is the application of s. 40A(3). This claim can be straight away rejected because by her contribution she was not purchasing anything. She was required to contribute as per the terms of the agreement. The acquisition of the distribution rights has already been effected by S. P. P. by her contribution she got the right to join and share therein. This is not a purchase of any stock-in-trade. So s. 40A(3) would not apply. 24. In view of out finding that the said Circular will apply, the assessee will be entitled to set off the loss against her income. The departmental appeal is dismissed.
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1981 (1) TMI 93 - ITAT BOMBAY-E
... ... ... ... ..... the rival contentions advanced by both the sides Considering the facts as now presented before us by the ld. counsel for the Accountable person ad which were not disputed before us by the ld. Deptl. Rep. We do not think that there was any good will worth the name which could be said to have passed on the death of Mrs. Mehta Considering the fact that the business of the firm was totally discontinued at the residence it could not be said that any goodwill passed on the death of the deceased. We, therefore agree with the Appellate Controller in the matter. It may be that the partnership deed enabled the surviving partner to carry on the business at the same place. However, we are told that the business was discontinued at that place and even before the death of the mother the Accountable person was carrying on his proprietary business of a similar kind at some other place In the circumstances, we see no reason to differ from the Appellate Controller. 6. The appeal is dismissed.
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1981 (1) TMI 92 - ITAT BOMBAY-A
... ... ... ... ..... CIT vs. Sheetalaya (1979) 117 ITR 658 (All). It has been held by the Allahabad High Court chat there is no requirement in any part of s.80J that the assessee must make a definite claim, that the ITO must determine the amount of deduction before it can be carried forward in a case, where, admittedly, the undertaking has suffered a loss which has been accepted while making the assessment and that the provision is intended to provide incentive to industry by means of relief from tax and provision is also made for carry it forward for seven years, and deduction is permissible even in a case where the formality of making a claim has not been complied with by the assessee in the first or the relevant assessment year in which, admittedly loss has been sustained and there was no profit or gain against which the deduction could be adjusted. The ruling fully supports the view taken by the AAC and we find no reason to interfere with his order. 6. In the result, the appeal is dismissed.
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1981 (1) TMI 91 - ITAT AMRITSAR
... ... ... ... ..... ing that he Supreme Court in that case has considered the provisions of s. 34(3)(b) of the IT Act which uses identical language to that in s. 33(4). Sec. 34(3)(b) refers to the situation when any ship, machinery or plant is sold or otherwise transferred by the assessee to any person. Sec. 33(3) also refers to the situation where the firm sells or otherwise transfers to a Company any of its assets in a specific situation. The concept of an otherwise transfer therefore has already received consideration at the hands of the Supreme Court in the case of Malabar Fisheries. We may also mention that even in the extended definition of transfer s. 2(47) of the IT Act the only possible limb that could be attracted in the firm s case too stand duly considered by the Supreme Court. Hence the Revenue was not entitled to withdraw the development rebate allowed already to the assessee firm for the asst. yr. 1967-68. 1969-70 and 1973-74. 4. The appeals of the Revenue fail and are dismissed.
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1981 (1) TMI 90 - ITAT AMRITSAR
... ... ... ... ..... TO. This application though filed is not available in the assessment records. The assessee on the one side contends that the WTO had granted extension upto 31st Jan., 1973, but on the other hand the application is not available in the assessment records and the fact is, therefore, verifiable. However, be that as it may the worst that can be thought of is that the WTO did not dispose of the assessee s application. Even when this is so it follows that the assessee could surely entertain a reasonable belief as claimed by him that his application for extension had been granted as it had not been rejected by the WTO. Such a belief, in our opinion, would provide a reasonable cause and consequently it is to be held that the assessee had shown reasonable cause even for the delay of three months for which the AAC has upheld the levy of penalty. No penalty can, therefore, be levied for default under s. 18(1)(a) and the penalty sustained by the AAC is deleted. 4. The appeal is allowed.
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1981 (1) TMI 89 - ITAT AMRITSAR
... ... ... ... ..... assessee in that regard. It was the duty of the ITO to make any investigations, if he considered necessary about the market value in March, 1970 of the two plots after the assessee had disclosed the full particulars about the sale. In this connection reference may be made to one of the latest authorities from the Supreme Court ITO vs. Madanani Engineering Works Ltd. (1979) 12 CTR (SC) 144 (1979) 118 ITR 1 (SC). We may also refer to two other decisions of the Supreme Court in CIT vs. Burlop Dealers Ltd. (1971) 79 ITR, 609, (SC) and Gemini Leather Stores vs. ITO 1975 CTR (SC) 127 (1975) 100 ITR 1 (SC). It has been clearly held by the Supreme Court in these cases that after disclosure or discovery of primary facts by the assessee it was for the ITO to make necessary enquiries and draw proper inferences in respect of a particular transaction from the angle of assessee s liability to tax. 6. In the result, the order of the AAC is upheld and the appeal of the Revenue is dismissed.
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1981 (1) TMI 88 - ITAT AMRITSAR
... ... ... ... ..... r of the AAC in para 3 we have no hesitation to say that the business of the assessee firm continued for the whole year and the purchases and sales for all the months show that there was no cessation or stoppage of business after 15th March, 1976. It follows that the stock of canvas and other articles could not have been contained unaltered after 15th March, 1976. Taking a practical view we have to rely on the word of the assessee in this respect because the circumstances arising from the perusal of purchases and sales corroborate his claim that the discrepancy in the stocks on the two dates was caused by consumption of canvas cloth or sale of the same. Since he has not maintained day to day stock register it is not possible for him to specify which way the 750 metres of canvas cloth were utilised. In our view, the addition of Rs. 8,250 cannot be sustained. Accordingly we vacate the finding of the AAC and delete the addition of Rs. 8,250. 8. In the result, appeal is allowed.
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1981 (1) TMI 87 - ITAT AHMEDABAD-E
Transfer Of Assets ... ... ... ... ..... r a professional accounts-keeper, it will not be possible, to term it as involving professional qualifications. Again technical would involve specialised training in a mechanical or scientific subject or in any particular subject. 11. In the present case, the wife of the assessee has been writing accounts. The payment of the salary was solely attributable to the application of her technical or professional knowledge and experience. To write books of account would certainly require intellectual skill. Under the circumstances, the wife of the assessee had possessed technical or professional qualifications and the income was solely attributable to the application of her technical or professional knowledge and experience. The learned AAC was wrong in sustaining the disallowance of Rs. 3,001. Accordingly, the assessee is entitled to claim salary payment of Rs. 3,001 to his wife and his case comes within the provisions of section 64(1)(ii). 12. In the result, the appeal is allowed.
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1981 (1) TMI 86 - ITAT AHMEDABAD-C
Amounts Not Deductible, In Case Of Companies ... ... ... ... ..... nt of the company. 11. On the facts of this case, we are satisfied that M.L.G. was working as efficiently as his father. In view of his past experience and having regard to his better educational qualifications as compared to the educational qualifications of his father we hold that the remuneration paid to M.L.G. in all the three years was neither excessive nor unreasonable, having regard to the legitimate business needs of the company. 12. In the result, the appeals are allowed. The ITO is directed to delete the addition of Rs. 7,500 from the total income of the assessee for the assessment year 1974-75, the addition of Rs. 35,950 from the total income of the assessee for the assessment year 1975-76 in addition to the deletion of Rs. 5,000 in view of the order of the Commissioner (Appeals) and to delete Rs. 31,285 from the total income of the assessee for the assessment year 1976-77 in addition to the deletion of Rs. 10,000 in view of the order of the Commissioner (Appeals).
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1981 (1) TMI 85 - ITAT AHMEDABAD-B
... ... ... ... ..... l, it would appeal that the development charges paid by the company did not result in any direct accretion to the capital structure of the company or in any direct advantage to it in the capital field. The advantage derived by the payment of the development charges, therefore, consisted in facilitating the assessee s existing manufacturing operations of enabling the management and conduct of the assessee s business to be carried on more smoothly and efficiently, leaving the capital structure unaltered. In our view, therefore, the present case is covered by the principles laid down by the Supreme Court in Empire Jute Company Ltd. and the Gujarat High Court in Gujarat Mineral Development Corporation. We accordingly hold that the development charges paid by the company to the GIDC were of revenue nature and we accordingly direct that the same should be deducted in computing the taxable profits of the company. 16. In the result, the appeal filed by the company is partly allowed.
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1981 (1) TMI 84 - ITAT AHMEDABAD-B
... ... ... ... ..... s is on the assessee to show the source of cash credits but once he has shown that they were received from a particular person and that person has accepted the transaction, the burden shifts on the Revenue. The Revenue can certainly show the so called creditors were not persons of adequate means in relation to the amount involved the Revenue can also show that such transaction in fact did not take place. In this very case however, Revenue has not shown any of these two. If according to the Revenue these parties, had not given a satisfactory explanation of the source of moneys the enquiry would be in their case. Considering all the evidence we hold that the assessee has established the primary onus on him to explain the cash credits. The revenue having failed to show that so called creditors were not persons of means or that the transaction in fact did not take place, the addition is not justified. We confirm the order of the ld. CIT (A). 7. The Revenue s appeal is dismissed.
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1981 (1) TMI 83 - HIGH COURT OF MADRAS
Prosecution vis-a-vis adjudication ... ... ... ... ..... uthority, I.L.R. 1962 Mad. 632, held that where the acquittal is substantially on merits, on identical facts and charges, it will not be proper for disciplinary Tribunal to record a finding of guilt, and to punish thereon, and this Court in exercise of the jurisdiction under Article 226 of the Constitution would be justified in striking down the action based on such findings, as not in consonance with principles of natural justice. 4. I find that before the proceedings of the departmental authorities got terminated finally, the criminal Court judgment has been rendered by the Sessions Judge, Madras Division, and the said court has acquitted the petitioner not on any technical ground, but, on the merits of the case. Such being the position, the dictum laid down in the above two decisions will squarely apply to the facts of the present case. In this view, I am obliged to interfere in the writ petition and accordingly the petition is allowed. There will be no order as to costs.
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1981 (1) TMI 82 - HIGH COURT OF JUDICATURE AT BOMBAY
Ship's stores - Interpretation ... ... ... ... ..... l had brought from foreign ports. 31. The said observations of the court, if at all would go against the submission of the learned Councel for the Union of India in this case, instead of supporting him. The said observations would show that any vessel which was principally a foreign going vessel, would not lose its character even if it temporarily engaged in some coastal trade mainly with a view not to waste its carrying capacity. 32. Since we are not accepting the said contentions raised by the learned Councel for the Union of India and since we are upholding the conclusions of the learned Judge on the above contentions, we do not think it necessary to consider various other contentions that have been raised by the parties to the Petition. 33. The result, therefore, is that the appeal stands dismissed with no order as to costs. 34. The learned Councel for the appellants had made normal application for leave to appeal to the Supreme Court against this judgment. Leave refused.
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1981 (1) TMI 81 - HIGH COURT OF MADRAS
Exemption notification ... ... ... ... ..... urring either in the Central Excises and Salt Act, 1944, or the Central Excise Rules, 1944, or even in the notification itself. Therefore, there is absolutely no warrant for making a classification as a main manufacturer and a manufacturer other than a main manufacturer and on that basis putting forward a contention that the exemption was intended to benefit only a main manufacturer and not manufacturers other than main manufacturers. 7. Having regard to these circumstances, we are clearly of the opinion that the notification in question giving the exemption from excise duty to the goods referred to above is applicable to the goods manufactured by the petitioners. Consequently, we allow these writ petitions and issue a direction to the respondents herein not to demand excise duty on the goods manufactured by the petitioners herein in terms of the notification concerned, in the context of the admitted facts to which we have drawn attention. There will be no order as to costs.
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1981 (1) TMI 80 - HIGH COURT OF JUDICATURE AT PATNA
Value of clearances - Maida - Alternative remedy no bar if the writ petition has been admitted on merits
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1981 (1) TMI 79 - HIGH COURT OF KERALA AT ERNAKULAM
Search - Seizure can be made by a police officer under Section 110 of the Customs Act - Smuggled gold - Confession made before an unauthorised Customs Officer - Validity
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1981 (1) TMI 78 - HIGH COURT OF JUDICATURE AT BOMBAY
Capital investment made on plant and machinery installed in an industrial unit - Industrial unit
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1981 (1) TMI 77 - SUPREME COURT
Probation of Offenders Act ... ... ... ... ..... thers, but then the fact that such offences have become rampant and have already endangered the economy of the nation is part of current history and this Court cannot look upon the present state of affairs with equanimity and deal with the commission of such offences leniently. Nor do we find that there was any material whatsoever on the record to justify the observation by the High Court that the respondent was not in a position to pay any fine. 5. In this view of the matter, we think that resource to Section 4 of the Act was not at all called for, the time-lag between the commencement of the trial and the pronouncement of the impugned judgment notwithstanding. Consequently, we set aside that judgment in so far as it concerns the use of that section and restore instead the conviction recorded against and the sentence imposed upon the respondent by the trial court on each of the three counts. He shall be taken into custody forthwith. 6. The appeal is disposed of accordingly.
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