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Case Laws
Showing 41 to 60 of 102 Records
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1976 (10) TMI 65 - ITAT MADRAS
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... ... ..... to sale of tank Nos. 1, 2, 4 and 5 for the value of Rs. 2,14,000 and Rs. 2,65,000 respectively, are of declared goods, whereas the third item of sale for Rs. 25,250 is not declared goods under Sec. 14(iv) of the Central Sales Tax Act and the sale of Items 1 to 3, 6 and 7 in 1972-73 relate to declared goods for the value of Rs. 7,36,594 (Rs. 6,35,000, Rs. 42,500, Rs. 42,151, Rs. 943 and Rs. 16,000) whereas the remaining two items do not relate to the sale of declared goods under s. 14 (iv) of the Central Sales Tax Act. 24. In the result, T.A. No. 995/75 is allowed in part and sales tax shall be levied at 3 per cent on the first two items of sales covering Rs. 4,79,002 and the levy of penalty is cancelled and in other respects, the orders of the lower authorities are confirmed. T.A. No. 953/75 is allowed in part and sales tax shall be levied at 3 per cent on the declared goods on a turnover of Rs. 7,36,594 and in other respects the orders of the lower authorities are confirmed.
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1976 (10) TMI 64 - ITAT MADRAS
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... ... ..... at Rs. 27,227-52 and the that same has been shown as stock-in-trade. He has further stated that Tvl. Vinyl General Industries have taken the dues from the assessee as stock-in-trade with Tvl. Reavathee Enterprises and the value was shown in the balance sheet of Tvl. Vinyl General Industries, Madras. The fact that the loan transaction have been accepted during the assessment years 1968-69 and 1969-70 by the AAC in previous appeals, is not disputed. Therefore, we are inclined to hold that there was no sale by the assessee in the loan transactions and that the value of goods covered by the loan transactions are not liable to be assessed to sales tax, since there was no sale. The decision reported in the Sales Tax Cases have also been cited in the grounds of appeal. Accordingly, we find this point in favour of the assessee. 10. In the result, T.A. 706/75 is substantially allowed and Rs. 360-50 being the value of copper wire is liable to tax at 9 per cent. T.A. 523/75 is allowed.
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1976 (10) TMI 63 - ITAT MADRAS
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... ... ..... of making refreshments available to members, while profit is referred in the usual clause relating to the treatment of surplus. Actually, as pointed out by the learned counsel, it is subsidised by government. We find them to be so. We find that there is no material for us to depart from the earlier decision of this Tribunal in the same appellant rsquo s case in TA. 1243/75 dt. 2nd September, 1976. After considering the case laws referred to by both the sides whether such cases had been specifically therein referred to or not, we must hold that it is not established that the appellant is a dealer. We must further hold that at any rate there is no sale involved when refreshments are supplied to the members, since the members are the owners of the property over the food stuff even at the time of preparation. The registered society was only acting as an agent all along. In this view of the matter the appellant rsquo s claim for exemption succeeds and both the appeals are allowed.
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1976 (10) TMI 59 - ITAT INDORE
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... ... ..... apprehension when he thought the bundle contained only the case records of M/s. Nand Kishore Mojilal. No value can be attached to such a statement. The affidavit of the ITO, B-Ward is not forth-coming and it is not shown with the help of evidence as to how the delay upto 23rd Oct, 1975 occurred. No sufficient cause has, therefore, been established for the delay in the filing of these appeals. Even if one were to go further it is quite unconvincing as stated by Shri Gedam in his affidavit, that the ITO, A-Ward would consider a a big bundle containing case records of at-least four cases to be case record of only one case. The size of the bundle or the manner of its packing would be relevant to know and from that it could be gathered whether such a mistake could possibly occur on the part of the ITO, A-Ward. We are satisfied that sufficient cause has not been shown for the delay and accordingly decline to entertain these appeals. 6. Both the appeals are dismissed as time-barred.
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1976 (10) TMI 58 - ITAT INDORE
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... ... ..... king any probe in the matter whatsoever. In view of the above discussion, we hold that the assessees had shown a reasonable cause or the delay in filing the returns and the penalty orders of the ITO are not sustainable. We need hardly say that the jurisdiction of the A.A.C. in the appeals of the assessee lay in seeing if the penalty orders passed by the ITO were sustainable and whether the ITO was justified in rejecting the explanation of the assessees in the manner in which he did so. In conclusion we hold that even though the impugned orders of the ITO may not be technically held as b ad in law, they were not sustainable as discussed above. In this view of the matter, we need not deal with the other submission of the assessee rsquo s Learned counsel. In the end, we accept the two appeals, and delete the penalties as imposed on the two assessees respectively. This order be placed on the record of I.T.A. No. 512 and a reference of this be made on the record of I.T.A. No. 513.
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1976 (10) TMI 57 - ITAT DELHI
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... ... ..... and 1,000 on Shri Sanwal Dass under s. 112 of the Customs Act, since both of them were very much concerned in carrying, hiding and otherwise dealing in contraband gold which they fully knew was confiscable under s. 111 of the Customs Act. In the orders of both the authorities below, we do not find any reference to the order of the Dy. Collector which is dt. 20th Dec., 1968, and it could be presumed that the same was both before the ITO as well as before the AAC. In this view of the matter, we deem it proper to restore back the matter to the file of the ITO with a direction that he will examine the lady Smt. Sumitra Devi and after giving full opportunity to the assessee to cross examine the lady, he will pass order keeping in view the order of the Dy. Collector Customs according to the law. Likewise, he will consider the leviability of the interest under s. 139(1) and 217 of the Act also. 5. In the result, the appeal filed by the assessee is allowed for statistical purposes.
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1976 (10) TMI 56 - ITAT DELHI
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... ... ..... nding all through by way of responding to the various notices and appearing before the assessing authority. They were fully conscious of the fact that the proceedings are going on against Sh. J.P. Aggarwal proprietor . The case of Shri J.P. Aggarwal throughout had been that he took only two contracts in his individual capacity at Delhi and, therefore, he was not responsible for contracts taken by M/s. Aggarwal and Co. Appearance of Shri J.P. Aggarwal to plead his case is not enough to hold that he alone was responsible for the sales made by M/s. Aggarwal and Company. 11. It seems to me that the pleas raised by Shri J.P. Aggarwal were not dealt with carefully by the authorities below and the case did not receive the attention it deserved at the hands of the authorities below. For the reasons stated above, I allow the appeals, set aside the impugned order and remand the case to the assessing authority to pass fresh assessment orders in the light of the observations made above.
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1976 (10) TMI 55 - ITAT DELHI
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... ... ..... The learned Finance CIT also did not take into his consideration the question of severability of contract. In view of decisions mentioned above, I find myself unable to follow his views as a correct proposition of law. It seemed that the decisions of the Bombay High Court in B.C. Kame s case was not placed before him. The decision of the Gujarat High Court in Tasveer Kendra s case was made in 1975 so obviously the learned financial CIT could not have taken notice of that decision. 50. For the reasons indicated above I partly allow the appeal, modify the impugned order of the learned CIT and held that the contract of taking a photograph of a customer, and developing of the negative amounts to a contract of work and labour which is not liable to sales tax under the Delhi Sales Tax Act, 1975. The order of the learned CIT that the contract for supply of the photographs to the customers amounts to a contract of sale and is liable to sales tax under the Act aforesaid is confirmed.
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1976 (10) TMI 54 - ITAT CUTTACK
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... ... ..... low. We have heard the contentions of both the parties and have gone through the report produced by the learned Representative for the assessee. We find that the valuation of similar land in the same locality has been made at Rs. 4,360 per acre. Hence the adoption of the value of Rs. 12,000 per acre by the Wealth-tax Officer is certainly excessive. Both the Wealth-tax Officer and the Appellate Assistant Commissioner were under the impression that that the valuer himself valued this land at Rs. 12,000 per acre. No evidence has been produced before us to show that any Valuer has actually valued such lands at Rs. 12,000 per acre. We, therefore, came to the conclusion that the impression of the authorities below on this point was erroneous. Considering all the facts and circumstances of the case, we deem it fair to value the land under consideration at Rs. 5,000 per acre. We direct that the assessment be modified accordingly. 31. In the result, all the appeals are partly allowed.
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1976 (10) TMI 53 - ITAT CUTTACK
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... ... ..... ath of the deceased is the change in the beneficial interest, and not title. In this case, it is abundantly clear that on the death of the deceased, her beneficial interest in the house property at Rourkela changed hands and, therefore the inclusion of the value of the said property cannot be said to be illegal. 8. Coming to the estimate in valuation of the disputed property, we see that the lower authorities have adopted correct method of valuation. However, the fact of defective title in the land on which the house property has been constructed cannot be lost sight of and, therefore, it can be legally presumed that the disputed property was not free from encumbrances. In view of that fact we are of the opinion that the multiplier of 16 times to the net rental income as maintained by the Appellant Controller of Estate Duty is a little on the high side and it will be reasonable if the same is restricted to 13 times only. We direct accordingly. 9. The appeal is partly allowed.
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1976 (10) TMI 52 - ITAT BOMBAY-B
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... ... ..... ention to s. 74 of the IT Act, 1961 Shri Mehta has admitted that the section is silent about the adjustment. It is, however, contended that when the section is silent, it is a trite law that the assessee should be allowed to adjust brought forward capital loss in a manner that suits it most. The Departmental Representative has, on the other hand, relied upon the orders of the ITO and the AAC. 10. We have gone through the provisions of s. 74 of the IT Act, 1961. Shri Mehta is right in submitting that s. 74 in silent about such inter-se adjustment. Under the circumstances, we are in agreement with Shri Mehta that the assessee should be allowed to make adjustment of brought forward loss in a manner which is to its advantage. Accordingly, the IT is directed to treat the whole of long term capital gains of the year amounting to Rs.----------- as income under the head long term capital gains (in assets other than land and building.) 11. In the result, the appeal is partly allowed-
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1976 (10) TMI 51 - ITAT BOMBAY-B
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... ... ..... ention to s. 74 of the IT Act, 1961 Shri Mehta has admitted that the section is silent about the adjustment. It is, however, contended that when the section is silent, it is a trite law that the assessee should be allowed to adjust brought forward capital loss in a manner that suits it most. The Departmental Representative has, on the other hand, relied upon the orders of the ITO and the AAC. 10. We have gone through the provisions of s. 74 of the IT Act, 1961. Shri Mehta is right in submitting that s. 74 in silent about such inter-se adjustment. Under the circumstances, we are in agreement with Shri Mehta that the assessee should be allowed to make adjustment of brought forward loss in a manner which is to its advantage. Accordingly, the IT is directed to treat the whole of long term capital gains of the year amounting to Rs.----------- as income under the head long term capital gains (in assets other than land and building.) 11. In the result, the appeal is partly allowed-
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1976 (10) TMI 50 - ITAT BOMBAY-B
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... ... ..... al return and the original returns as indicated in paragraph 1 were filed prior to 1st May, 1968. The law on the dates when the concealment was committed by the assessee for the asst. yrs. 1960-61 to 1964-65 was that the penalty should be levied with relation to the sought to be avoided by the assessee, the minimum penalty imposable was provided at 20 per cent of such tax. The assessee s Counsel, in the course of arguments, explained that the assessee was a medical practitioner and he was of the opinion that the notional income from those properties was not required to be shown in the return and he therefore forgot to include the income from those properties. Having these facts in mind, we direct the ITO to levy minimum penalty at 20 per cent of the tax sought to be evaded by the assessee for these years. The ITO is directed to refund the excess penalty if already to refund the excess penalty if already collected by him. 7. In the result, the departmental appeals are allowed.
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1976 (10) TMI 49 - ITAT BOMBAY-B
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... ... ..... al return and the original returns as indicated in paragraph 1 were filed prior to 1st May, 1968. The law on the dates when the concealment was committed by the assessee for the asst. yrs. 1960-61 to 1964-65 was that the penalty should be levied with relation to the sought to be avoided by the assessee, the minimum penalty imposable was provided at 20 per cent of such tax. The assessee s Counsel, in the course of arguments, explained that the assessee was a medical practitioner and he was of the opinion that the notional income from those properties was not required to be shown in the return and he therefore forgot to include the income from those properties. Having these facts in mind, we direct the ITO to levy minimum penalty at 20 per cent of the tax sought to be evaded by the assessee for these years. The ITO is directed to refund the excess penalty if already to refund the excess penalty if already collected by him. 7. In the result, the departmental appeals are allowed.
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1976 (10) TMI 48 - ITAT BOMBAY-B
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... ... ..... r the first time, we do not think, we can finally determine this issue without giving an opportunity to the authorities below to consider the contents of the Affidavit and to determine the questions raised therein. If any investigation is necessary in this regard, that also can be done by the authorities below. We, therefore, restore this matter back to the file of the AAC with a direction that he should hear the assessee as well as the ITO in the matter of this Affidavit and then decide the issue in proper light. 10. The AAC can also re-examine the point regarding interest payable under s. 214 in the light of what the assessee and the ITO have to say regarding the matter of appealibility on the question of interest under s. 214, especially in view of the latest decision given by the Karnataka High Court holding that an appeal can be filed on the question of interest payment in regard to advance-tax. 11. For statistical purposes the assessee s appeal is deemed to be allowed.
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1976 (10) TMI 47 - ITAT BOMBAY-B
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... ... ..... for the assessee, had highlighted that a distinction has to be made between business clubs like The Royal Western India Turf Club Ltd. And social clubs like the assessee before us. In the former the principle of mutuality cannot apply. In the latter in so far as the receipts are such where identity can be established between the participant members and the contributions made by them, whose receipts in view of the principle of mutuality, will not be taxable. 6. We have given consideration to the above arguments. For the reasons stated by the Tribunal in its aforesaid earlier order dated 17th June, 1974 in the case of the assessee, with which we agree, we hold that the aforesaid amount of 10,28,400 received by the assessee from its members by way of sale of guest tickets at the time of the 5th test match between England and India cannot be brought to tax. 7. In the result, the appeal by the Revenue fails and is hereby dismissed and the appeal by the assessee is partly allowed.
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1976 (10) TMI 46 - ITAT BOMBAY-B
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... ... ..... nceded that the disallowance under s. 40(A)(v) in the case of the Managing Director was justified but not in the case of the Chairman. We accordingly restore the disallowance of Rs. 2975, as we also agree, on the facts of the case, that the Chairman is not an employee of the company. 16. The learned Departmental Representative urged that we should consider at this stage as to whether the disallowance can be sustained either under s. 40A or under s. 40(c),but we are afraid we cannot accede to his request. It is upto the Revenue to establish that the conditions stated either in s. 40A or in s.40(c) are fulfilled and it is not for us to find out whether those conditions are fulfilled. Moreover, even the ITO has rested his case only on the provisions s. 40(a)(v) and not on any other section of the Act. We, therefore, interfere with the order of the Appellate Asstt. Commissioner to the extent indicated by us. 17. In the result the appeal for the asst. yr. 1971-72 succeeds partly.
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1976 (10) TMI 45 - ITAT BOMBAY-B
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... ... ..... hereafter to fulfil the conditions laid down by s.40A(7). As such we have necessarily to agreed with the Revenue that the provision for gratuity amounting to Rs..... cannot Bombay Act 1959 allowed to the assessee. 9. The last ground is to the effect that Appellate Assistant Commissioner in not agreeing to give relief of the assessee in respect of the excess interest charged by the Income-tax Officer,under s.215 of the Act. It is added in the said ground that the Appellate Assistant Commissioner ought to have directed the Income-tax Officer to compute the interest correctly in conformity with the provisions of the Act. Although we principally hold that no appeal is provided by the Act in the matter of interest chargeable under s.215, as held by the Appellate Assistant Commissioner, still we are sure that if the Income-tax Officer has through oversight charged excess interest, he would rectify the same according to law. 10. In the result, the assessee s appeal succeeds partly.
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1976 (10) TMI 44 - ITAT BOMBAY-A
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... ... ..... y accounts at all for verification. If he takes such an attitude that must evidently be for the reason that exposing himself to such estimates considered was more advantageous to him then assessments that might be made on the basis of his true accounts. That must necessarily lead us to the conclusion that in fact he is making more profits then even at the rates estimated in the earlier years and accepted by him without demur. There is also the fact which can be taken judicial note of that there has been in these years gradual and steady increase in interest rates. Taking all these things into consideration, even while of the view that the rate of 15 per cent may be a bit too high to be adopted, we are convinced that the profits of these years should be assessed at more than 10 per cent adopted in the past. We hence estimate the assessee s income for this year at 12 1/2 per cent of the capital of Rs. 6,80,000. This works out to Rs. 85,000. To this extent the appeal is allowed.
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1976 (10) TMI 43 - SUPREME COURT
Refund — Refund is not a case of short levy — Writs of Certiorari, Mandamus and Prohibition — Revision — Relevant date — Connotation of
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