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Case Laws
Showing 101 to 120 of 203 Records
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1981 (2) TMI 103 - ITAT BANGALORE
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... ... ..... siness was carried on only for a limited period of seven years. This again is indicative of the fact that carrying on of business was for the purpose of administering the estate by the executors. In the case on hand before us, the position is different. The executors after completion of the administration of the estate Will shed their character as executors and become trustees. As to when the executors can be said to have completed the administration is a matter depending upon the facts of each case. The assent of the executors can be implied and it need not be always expressed. The position has been represently reviewed by the Madras High Court in the case of CWT vs. S. Prakasam reported in (1980) 19 CTR (Mad) 233 (1980) 125 ITR 772 (Mad). 5. We have, therefore, no hesitation for holding that the assessments were wrongly made by applying s. 19A. The provisions of s. 21 are clearly applicable. The order of the AAC is accordingly upheld. 6. The appeals fail and are dismissed.
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1981 (2) TMI 102 - ITAT BANGALORE
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... ... ..... gation to share losses. It is also open to pay in the shape of minimum profits to some partners. It is not uncommon to find that financing partners are paid minimum profits which would be nothing but payment of return of the investment. Here also payment of Rs. 12,000 minimum to each of the partners 5 and 6 is, in effect, payment for the use of premises possessed by them. 5. We may also notice that so far as the two assessment years are concerned no difficulty arose in regard to the distribution of profits as the profits are more than Rs. 24,000 in each of then years. The division has been made in accordance with cl. 7 and there is no other infirmity pointed out. 6. For the foregoing reasons we hold that there is no contravention of s. 184 (i)(ii) as found by the Commr. and his orders are, therefore, set aside. The orders of the ITO granting registration for the asst. yr. 1975-76 and continuation of registration for asst. yr. 1976-77 are restored. 7. The appeals are allowed.
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1981 (2) TMI 101 - ITAT AMRITSAR
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... ... ..... ing been terminated on the death of such a partner. There would have not arisen any question in the present case. M/s. Hindustan Petroleum Corpn. Ltd., may not have chosen to enter into the fresh agreement with the new firm. In this view of the matter we are unable to agree with the CED that goodwill passed on the death of Shri Tilak Raj Anand which could form a part of his estate and which passed on his death. In our view, goodwill ended the moment partnership ended and also the agreement with M/s. Hindustan Petroleum Corpn. Ltd., terminating the dealership. No goodwill was left there which could pass after the cessation of business of earlier partnership. Accordingly, we vacate his finding and delete the addition of Rs. 52,195. 5. Since this finding is enough to dispose of the appeal we refrain from going into the second issue raised in this appeal about the quantum of goodwill which was liable to be added. 6. In the result, the appeal of the Accountable Person is allowed.
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1981 (2) TMI 100 - ITAT AMRITSAR
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... ... ..... e ITO to show that interpolation was done by the assessee to show that moneys were advanced to above named four persons on account of Toria left with him for sale in future. The IAC had depended upon these findings to hold the assessee liable for concealment in the present order. We have ourselves examined those four entries. On the basis of our examination we find it is not safe to support the finding of the ITO and hold that assessee had fabricated the entries. In this view of our findings we cannot uphold a view that the assessee being guilty of committing fraud, it is on him to show that the concealment of income of Rs. 36,352 was not done by him. In our view, it was for the ITO on the facts and circumstance of the case to draw out material to prove the concealment of income in respect of the above sum of Rs. 36,352. In accordance with our finding we, therefore, cancel the penalty of Rs. 36,352 levied by the IAC. 6. In the result, appeal filed by the assessee is allowed.
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1981 (2) TMI 99 - ITAT ALLAHABAD-B
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... ... ..... atter. After determining the year of construction of the property, the ITO would redetermine the question of addition, if any, to the assessee s total income on account of unexplained investment, if any, on merits. Prima facie it appears that if there was no construction during the year under consideration, there could be no addition to the assessee s total income for the year under consideration. In view of this, we do not consider it necessary to go into the merits of the case as it may be purely of academic value and unnecessary for deciding this appeal if the finding is reached that no part of the construction activity with regard to the house was undertaken during the previous year under consideration. It is open to both the sides to place on record such evidence as may be necessary to establish the facts. Accordingly, the case is restored to the ITO for this limited purpose. 11. For statistical purposes, we will treat the appeal for asst. yr. 1976-77 as partly allowed.
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1981 (2) TMI 98 - ITAT ALLAHABAD-B
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... ... ..... see had 19 Pacca bighas of agricultural land from which the agriculture income, even according to the return, was about Rs. 3,000 per year. The assessee was carrying on business in a village where he as well as his family were residing and the assessee also had the agricultural income which met part of his expenses. Taking all this into consideration and looking to the totality of the facts and circumstances, we are of the view that the capital to the extent of Rs. 56,000 can be treated to have come out of the income of the earlier years and the balance amount which remains unexplained out of the capital at the commencement of the year in round figure, works out to Rs. 10,000. This means that the capital at the commencement of the year, the nature and source of which was not satisfactorily explained and which can justifiably be treated as assessee s income from other sources, is reduced from Rs. 16,000 sustained by the AAC to Rs. 10,000 only. 6. The appeal is partly allowed.
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1981 (2) TMI 97 - ITAT ALLAHABAD-B
Hindu Undivided Family, Assessability Of Income ... ... ... ... ..... e family. It was in the context of the facts of that case that their Lordships had pointed out that on the partition of the family income received by each of the divided members from divided property was received by him as an individual (sic.) and he was assessable with regard to such income as individual. The facts of the present case are materially different in so far as the divided father still has unmarried daughters to support and maintain and the responsibility of those daughters cannot be foisted by him on his divided son or for that matter on the divided wife. The obligation to maintain the unmarried daughters and marry them is fastened on the family of which, at the relevant time, the assessee is the karta. The Commissioner was, therefore, in our opinion, in error in presuming that the facts of the present case were governed by the ratio of the case of Purshottam Das Rais. In view of this, we quash the order of the Commissioner under section 263 and allow the appeal.
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1981 (2) TMI 96 - ITAT ALLAHABAD-B
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... ... ..... ebts has to be taken as the net wealth. None of the deeming provisions enumerated in section 4 of the Act, cover the addition made in the present case. Admittedly, the interest payment to the bank was an actual event and, therefore, the wealth of the assessee went down to that extent. To presume that interest to the extent of Rs. 37,500 was not paid would not be correct because even while disallowing it under the Income-tax Act, 1961, the assumption made was not that interest was not paid to the bank but that such payment was not for the business purpose of the assessee and, therefore, could not be allowed as a deduction while computing the assessee s total income. Once payment of the interest is conceded to, it becomes an outgoing and does not get reflected in the assessee s wealth by way of an asset and, therefore, there is no justification whatsoever in treating it as part of the assessee s asset. The addition made is, accordingly, deleted and the appeal is hereby allowed.
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1981 (2) TMI 95 - ITAT ALLAHABAD-A
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... ... ..... ffirmative, the penalty on the assessee under s. 273 (a) cannot be imposed as, in the present case, the assessee had a Bona fide belief with regard to the availability of the relief under s. 80QQ to the firm of M/s. Bhargava Book Depot wherein the assessee had a share, his estimate of his current income filed on 14th Dec., 1973 was genuine and Bona fide and it would not be correct to say that the assessee was guilty of filing an estimate of advance-tax under s. 212(1), which he had reasons to believe to be untrue or which was not true. The imposition of the penalty, in the circumstances, is not sustainable and we accordingly delete it. In view of what we have stated above it is not considered necessary to go into the second limb of the assessee s argument with regard to the validity or otherwise of the notice under s. 210(1) of the IT Act, 1961 and the consequences which according to the assessee flowed from such invalidity. 12. In the result, the assessee s appeal succeeds.
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1981 (2) TMI 94 - ITAT ALLAHABAD-A
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... ... ..... r being placed on record. Apparently, on the basis of the facts stated by the assessee two contradictory inferences have been drawn one by the assessee and the other by the Revenue authorities. We are, therefore, convinced that in this case it is more a question of having two different opinions on the same set of facts and no case has been made out against the assessee with regard to the suppression of facts or withholding of any vital information. The overall impression, therefore, left on our mind by the facts of this case is that the charge of concealment cannot properly be laid at the door of the assessee in view of the fact that whatever material is on record on the basis of which the Department has reached its conclusions with regard to the ownership of the business has been placed by the assessee himself on record. His conduct in this case is not open to challenge. 9. In the result, the order of the ld. AAC is hereby confirmed and the Departmental appeal is dismissed.
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1981 (2) TMI 93 - ITAT ALLAHABAD
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... ... ..... he assessee and simply because the CIT (A) has not accepted the assessee s plea ultimately would not go to change the state of mind of the assessee as on the date when he was required to file his estimate of advance tax under s. 212(3A). We have to see whether as on that date he held that belief bonafidely and whether there was any basis for holding the said belief as the order of the IT Appl. Tribunal makes it clear the assessee had bona fide basis for holding the said belief and that is why the Tribunal has set aside the order of the CIT (A) on this point and has restored the matter back to him for the decision of the issue on merits. Merely because the assessee held an opinion, which did not find favour with the IT authorities, he cannot be held guilty of the default under s. 212 (3A) and penalised in term of cl.(c) of s. 273 of the IT Act, 1961. The penalty imposed is, in our opinion totally unjustified and, we therefore, delete it. 9. In the result, the appeal succeeds.
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1981 (2) TMI 92 - ITAT AHMEDABAD-B
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... ... ..... e property on the facts of this case. 11. On the facts of this case, we hold that the rent of Navrang Cinema could not be more than the rent agreed between the parties. We hold that the value of the property let out to the firm should be arrived at by capitalisation method on the basis of the rent agreed to be paid by the firm to the assessee. We hold that reasonable yield must be 12 , as laid down by the Gujarat High Court in the case cited supra. In our view in valuing the property the profit received by the tenant cannot be taken into consideration in a case like this where the rent agreed is not less than the standard rent. We hold that in capitalising the rental of property leased to the Utsav Hotel rate of 12 should be taken. Although the lease to a limited company is for a period of 30 years extendable for 15 years more, the tenant cannot be evicted even after the period of 45 years as the tenant gets protection under the Rent Control Act. 12. The appeals are allowed.
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1981 (2) TMI 91 - SUPREME COURT
Order under Section 111(d) of the Act which provides for confiscation of improperly imported goods, personal penalty and fine in lieu of confiscation challenged
Held that:- On the material produced before us it seems there may be some basis for the grievance made. Of course the fine to be imposed in lieu of confiscation is in the discretion of the customs authorities, but it would be unfair if the punishments awarded respectively to the appellants and the licensee mills were glaringly disproportionate when, as would appear from the facts summarised above, both were guilty of trafficking in licence. Accordingly, while affirming the decision of the Government of India on other points, we set aside the part of the impugned orders maintaining the fines levied by the Board and send the cases back to the Board to consider whether the fines imposed on M/s. Madhusudan Gordhandas are really disproportionate to the penalty imposed on the licensee mills and levy such fines as would appear just and proper to the Board on such consideration. The Bank Guarantee furnished by the appellants for clearing the goods in question pursuant to the orders of this Court will remain enforceable till the final disposal of these cases. Appeal allowed in part.
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1981 (2) TMI 90 - HIGH COURT OF ALLAHABAD
Refund arising out of appellate order must be automatic without application - Price List ... ... ... ... ..... Central Government. It will be for the petitioner to approach the Central Government and to satisfy it that the order passed by the Appellate Collector requires no interference. Merely because the petitioner thinks that the order passed by the Appellate Collector is fully justified, it cannot be said that the notice which had been issued by the Central Government is vitiated or is without jurisdiction. 35. In the result the petition succeeds and is allowed in part. The respondents are directed to refund the amount that has admittedly become due to the petitioner in consequence of various appellate orders mentioned in paragraph 27 of the writ petition forthwith. Petitioner s request for quashing the notice under Section 36 of the Central Excise Act, issued by the Central Government for examining the validity of the appellate order dated 14th of October, 1977 is rejected. In view of the divided success, the parties are directed to bear their own costs. Petition partly allowed.
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1981 (2) TMI 89 - HIGH COURT OF KARNATAKA
Penal provisions not enforceable, if terms of bond incapable of performance - Bond - 'Any Accident' - Interpretation of - Refund - Forfeiture of deposit illegal
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1981 (2) TMI 88 - GOVERNMENT OF INDIA (REVISION CASE)
Intermediate product - Valuation - Yarns and Fabrics - Demands ... ... ... ... ..... tion v. Directorate of Enforcement - AIR 1970 S.C. 494 and subsequently in the case of Lennart Schussler v. Directorate of Enforcement - AIR 1970 S.C. 549 has held that after the omission of a rule without a saving clause in favour of any acts and omission already done under the said rule, no proceedings can be instituted. Now a Divisional Bench of Allahabad High Court in the case of Ajanta Paper Products v. Collector of Central Excise, Kanpur and Another - 1982 (12) E.L.T. 201 after referring to above Supreme Court decision has held that after the omission of Rule 10, the department has no jurisdiction to proceed with under the erstwhile rule because of the absence of a saving clause. In view of above two judgments of the Supreme Court, the Rajasthan High Court decision relied upon by the Revisionary Authority stands over-ruled and consequently this decision of the Revisionary Authority on this court is incorrect and is in violation to the law declared by the Supreme Court.
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1981 (2) TMI 87 - HIGH COURT OF PUNJAB AND HARYANA
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... ... ..... ere raised in the Andhra Pradesh case and the learned Judge in his order dated February 3, 1978 fully met and rightly repelled them. We, therefore, hold that the appellants are entitled to sugar incentive rebate in terms of notification dated April 20, 1974 for the sugar produced by them in the months of April and May, 1974 irrespective of the fact that they did not produce any sugar in the corresponding months of 1973. It is understood that the position would have been different if the appellant had not produced any sugar during the entire base period of 1st October, 1972 to 30th September, 1973. The contrary finding of the learned Single Judge in the impugned order dated September 9, 1980 is reversed. 11. In view of the discussion above, we accept both the Letters Patent Appeals, set aside the consolidated order of the learned Single Judge dated September 9, 1980 and further allow Civil Writ Petitions Nos. 1034 of 1978 and 4092 of 1977 with no order as to costs throughout.
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1981 (2) TMI 86 - GOVERNMENT OF INDIA
Precedent - Binding effect of orders ... ... ... ... ..... and under the provisions of Notification No. 130/73, dated 9-6-1973 for the period subsequent to 9-6-1973. The petitioners have cited Government of India s Order No. 945 of 1980, dated 30-9-1980 passed in favour of the same petitioner and have requested that the ratio of this order in revision should be made applicable to the present cases also. 4. Government find considerable force in the petitioner s aforesaid contention and since the issue has already been decided in the order-in-revision cited above, Government find no reason why this order should not be made applicable to the present revision applications also especially in view of the fact that Notification No. 130/73, dated 9-6-1973 substantially reproduces the Board s instructions in letter F. No. 11/3/62 in respect of which the Government have already taken the aforesaid view. 5. In view of the above, Govt. of India set aside the seven orders in appeals and allow the R.A. with consequential relief to the petitioner.
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1981 (2) TMI 85 - HIGH COURT OF MADRAS
Valuation - Packing ... ... ... ... ..... containers cannot be excluded from the excisable value of the eight finished products. 7. The next contention relates to the alleged double taxation. There is no dispute that the metal containers are manufactured by the petitioner and as they are so manufactured, excise duty is leviable, under Item 46 of the First Schedule to the Act. If the said metal containers are again utilised for, the purpose of finishing another product so as to put the same into the market, necessarily it becomes part and parcel of the other product and if the value of the metal containers is not to be held as post-manufacturing, expenses, then it becomes part of the excisable value of the other product, which it contains. Hence I am not able to appreciate and accept this contention of the learned counsel for the petitioner. For all these reasons, I do not find any warrant for interference in writ jurisdiction and the writ petition fails and the same is dismissed. There will be no order as to costs.
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1981 (2) TMI 84 - HIGH COURT OF DELHI AT NEW DELHI
Short levy due to mis-statement - Paper - Assessment - Reopening - Remand - Writ jurisdiction - Question of fact
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