|
Advanced Search Options
Case Laws
Showing 201 to 220 of 385 Records
-
1991 (1) TMI 186 - ITAT AHMEDABAD-C
... ...
... ... ..... ories and/ or the alleged purchaser in the books of the assessee nor any other piece of evidence indicating the delivery or transfer of the commodity to the alleged purchasers of the sugar was brought on our record. But the contracts with the sugar factories and/or alleged purchasers are stated to have been periodically settled. On our appreciation of these facts, as brought on our record, we have no hesitation to hold that the contracts for sale and purchase of sugar bags in this case were settled by the assessee otherwise than by actual delivery or transfer of the commodity direct or constructive purchased and sold. We are thus in full agreement with the IT authorities that the loss in question, not being a business loss and having been occasioned to the assessee in speculative transactions, was not allowable and has rightly been not allowed, to be set off against other income of the assessee. The appeal is devoid of any force and has to be dismissed. 12. Appeal dismissed.
-
1991 (1) TMI 185 - ITAT AHMEDABAD-C
General Reserve ... ... ... ... ..... es, is a reserve failing within the expression other reserves in clause (iii) of Rule 1 of Schedule 2 to the Companies (Profits) Surtax Act, 1964 and was includible in computing the capital of the assessee for the purposes of sur-tax. This decision emphasises the fact that the expression other reserves in Rule 1 of Second Schedule included those reserves which were created out of profits of the company after deduction of tax. The reserves in our case are created out of profits after deduction of tax, and, as already stated, they are not liable to be reduced by the difference in the depreciation actually allowed in the assessment proceedings and depreciation as provided for in the books of accounts. 8. For reasons stated above, we set aside the order of IAC (Assessment) deducting the difference between the depreciation allowed under the Income-tax Act and depreciation as provided in the books of accounts from the reserves in the computation of capital. 9. The appeal is allowed
-
1991 (1) TMI 184 - ITAT AHMEDABAD-C
Late Filing ... ... ... ... ..... In the instant case the CIT(A) himself seems to have been of the opinion that the word month is to be reckoned according to the British calendar. That is why he has considered the default of two months which according to him pertained to the months of August and September. Since the delay up to 3rd August, 1983 has to be condoned as having been reasonably and sufficiently explained, the month of August cannot be considered as the month of default. Similarly the month of October in which the assessee had filed its return on the 29th day, cannot be considered to be a complete month of default. That has also not been considered so by the CIT(A) himself. That leaves us with September 1983 as being the only month of default in this case. In that sense of the matter penalty is leviable only for one month in the instant case. The cross objection of the assessee thus needs to be accepted. 14. In the result the revenue s appeal is dismissed while assessee s cross objection is allowed
-
1991 (1) TMI 183 - ITAT AHMEDABAD-C
General Reserve ... ... ... ... ..... es, is a reserve failing within the expression other reserves in clause (iii) of Rule 1 of Schedule 2 to the Companies (Profits) Surtax Act, 1964 and was includible in computing the capital of the assessee for the purposes of sur-tax. This decision emphasises the fact that the expression other reserves in Rule 1 of Second Schedule included those reserves which were created out of profits of the company after deduction of tax. The reserves in our case are created out of profits after deduction of tax, and, as already stated, they are not liable to be reduced by the difference in the depreciation actually allowed in the assessment proceedings and depreciation as provided for in the books of accounts. 8. For reasons stated above, we set aside the order of IAC (Assessment) deducting the difference between the depreciation allowed under the Income-tax Act and depreciation as provided in the books of accounts from the reserves in the computation of capital. 9. The appeal is allowed
-
1991 (1) TMI 182 - ITAT AHMEDABAD-C
Late Filing ... ... ... ... ..... In the instant case the CIT(A) himself seems to have been of the opinion that the word month is to be reckoned according to the British calendar. That is why he has considered the default of two months which according to him pertained to the months of August and September. Since the delay up to 3rd August, 1983 has to be condoned as having been reasonably and sufficiently explained, the month of August cannot be considered as the month of default. Similarly the month of October in which the assessee had filed its return on the 29th day, cannot be considered to be a complete month of default. That has also not been considered so by the CIT(A) himself. That leaves us with September 1983 as being the only month of default in this case. In that sense of the matter penalty is leviable only for one month in the instant case. The cross objection of the assessee thus needs to be accepted. 14. In the result the revenue s appeal is dismissed while assessee s cross objection is allowed
-
1991 (1) TMI 181 - ITAT AHMEDABAD-B
... ...
... ... ..... ociation are in relation to the vehicle owned by a matter although the membership pertains to an individual. In our opinion, the expenditure in question can very well be categorised under the head car expenses and subject to the same treatment, viz., a partial disallowance as has been done by the ITO in the present case and accepted by the assessee. The expenditure under no circumstances can be treated as personal as it has all the attributes of an expenditure relatable to the assessee s business. It is not the case of the Department that the vehicle or vehicles which are obtaining the relevant facilities from the Association are not the asset/assets of the assessee s business. In any case we have not been able to find any such doubt having been raised by the tax authorities in their orders. In the final analysis we uphold the addition to the extent of 1/3rd that being attributable to personal user and allow relief in respect of the balance. 11. The appeal is partly allowed.
-
1991 (1) TMI 180 - ITAT AHMEDABAD-B
... ...
... ... ..... erence to the assessment orders passed in the case of P.O. Desai, the CIT(A) has clearly found that the HUF being represented by him upto asst. yr. 1979-80 was known as HUF of O.N. Desai and from that year as that of P.O. Desai. Shri P.O. Desai had been the partner in M/s Shree Gita Tea Trading Co. during the relevant periods. Therefore, no question of a partner being benamidar of another partner or a third person arose. The material placed on our record also supports the facts found by the CIT(A). 15. It is not disputed that assessments in the cases of the partners on income derived by them from their respective partnerships had already been completed, before assessments in the cases of the partnership. No evidence of action under ss. 263, 155 etc. dislodging that position has been placed before us. Assessee s arguments in that behalf cannot, therefore, be rejected outright, in view of the ratio in the decision relied upon. 16. In the result, both the appeals are dismissed.
-
1991 (1) TMI 179 - ITAT AHMEDABAD
Carry Forward ... ... ... ... ..... No. 6. Consequently, mere fact that assessee had not filed Form No. 6 seeking extension of time was irrelevant. Then the Board had issued those, instructions, it should be regarded that the ITO had allowed time up to the date mentioned in the Circular of the Board. Under the instructions of the Board the return could have been validly filed on 31-8-1985 and that it was not necessary that it should have been necessarily filed before 31-8-1985. However, on 31-8-1985 return could not have been filed because the offices were closed and as such return filed on 2-9-1985 should be regarded to have been filed within further time as allowed by the Income-tax Officer. Consequently, condition mentioned in section 80 of the Act for allowing carry forward of loss was satisfied. I, therefore, set aside the direction of the Income-tax Officer and direct that the loss determined by the Income-tax Officer shall be allowed to be carried forward in accordance with law. 4. The appeal is allowed
-
1991 (1) TMI 178 - GOVERNMENT OF INDIA
Short-landing ... ... ... ... ..... formula is adopted for computing the same. In this case the Collector (A) has assumed that each of the 165 packages had a uniform weight (or value). That seems to be falacious as no project import consisting of a number of packages will have such uniformity of contents either by weight or by value. 3. In this case, the party has produced certain evidence like claim bill of M/s. Balmer Lowrie and Company Ltd., packing list, invoices etc. from where it is seen that the weight of the short-landed packages can be found out. Therefore, it will be more rational to adopt the weights as available in the packing lists (subject to verification by the Collector (Appeals), duly corroborated by other evidence and then work out the C.I.F. value of short-landed goods, and the penalty liability of the party. 4. The matter is accordingly referred back to the Collector (Appeals) for de novo consideration in the light of the above observations. 5. The order-in-appeal is modified in above terms.
-
1991 (1) TMI 177 - GOVERNMENT OF INDIA
Short landing ... ... ... ... ..... ng against the concerned line number. Normal evidence like tally sheet, report of immediate survey after landing of goods in unsound condition (which should be conducted by the importer/clearing agent within 3 days of a issue of qualified receipt by CPT as per PN 277/83) are some of important features which are missing in this case of alleged short-landing. 9. Temporal proximity of evidence of shortages to the event of unloading is the essence of reliability of such evidence. Longer the delay in reports/evidence/survey from unloading lesser is the reliability of such evidence to prove that goods landed in unsound condition unless shortages are discovered after long-time. When goods of packages are still found intact. 10. In the circumstances Government is inclined to grant benefit of doubt to the applicants and holds that no short-landing in this case should be held to have occurred. The party is naturally entitled to consequential relief. The revision application is allowed.
-
1991 (1) TMI 176 - GOVERNMENT OF INDIA
Refund for short landing ... ... ... ... ..... . 4. Government observe that admittedly there is no evidence substantiating short-landing except the survey report of M/s. General Inspection and Survey Company (India) Pvt. Ltd. Government further observe that the primary evidence to establish short-landing is the certificate issued by the Port Trust who have not issued any short-landing certificate. The survey report by itself cannot be sufficient basis for granting refund to the applicants. The said survey report is based on the steamers displacement scale which is always proximate and under no circumstances can be certain. Appellants have not made any claim with the steamer agents. It is also not clear if any claim was filed with Insurance Company. Hence, as rightly held by the Collector (Appeals) draft report in itself cannot be conclusive for grant of refunds. Government, therefore, do not find sufficient grounds to interfere with the impugned order-in-appeal. The same is upheld and the revision application is rejected.
-
1991 (1) TMI 175 - GOVERNMENT OF INDIA
Short-landing ... ... ... ... ..... ble before the Adjudicating Authority. Keeping this in mind, Government observe that the questions in the minds of the lower authorities have been satisfactorily explained by the party and the party has established beyond doubt that the quantity allegedly short-landed is the same which has landed in excess. The fact whether the consignees took delivery of the same or not should normally be extraneous to a case under Section 116, Customs Act, 1962. 5. Taking into consideration overall facts and circumstances of the case, Government observe that the applicants have produced enough evidence to substantiate their contention that the goods which landed under Nil marks are the same that allegedly short-landed. Government, therefore, hold that the applicants have satisfactorily accounted for the short-landed goods. 6. In the result, the impugned order-in-appeal and the order-in-original are set-aside and the revision application is allowed with consequential relief to the applicant.
-
1991 (1) TMI 174 - GOVERNMENT OF INDIA
Short-landing ... ... ... ... ..... ble before the Adjudicating Authority. Keeping this in mind, Government observe that the questions in the minds of the lower authorities have been satisfactorily explained by the party and the party has established beyond doubt that the quantity allegedly short-landed is the same which has landed in excess. The fact whether the consignees took delivery of the same or not should normally be extraneous to a case under Section 116, Customs Act, 1962. 5. Taking into consideration overall facts and circumstances of the case, Government observe that the applicants have produced enough evidence to substantiate their contention that the goods which landed under Nil marks are the same that allegedly short-landed. Government, therefore, hold that the applicants have satisfactorily accounted for the short-landed goods. 6. In the result, the impugned order-in-appeal and the order-in-original are set-aside and the revision application is allowed with consequential relief to the applicant.
-
1991 (1) TMI 173 - GOVERNMENT OF INDIA
... ...
... ... ..... geria. Therefore, if the appeal has been signed by the learned Advocate himself on the basis of a proper Vakalatnama it was erroneous for Collector (Appeals) to hold that the appeal was not properly signed. Since the Vakalatnama is found to have been enclosed with the said appeal itself the order of the Collector (Appeals) rejecting the same as premature is not in conformity with the legal provisions. 3. In view of the above discussions the Government hereby modify order of the Collector (Appeals) and hold that the appeal was properly filed whereupon the Collector should now decide the case on merits. 4. During the course of the hearing it has also been urged that the family of the appellant who is a professional is facing lot of strain due to this case so much so that he has also lost his mother after the case was booked. In this view of the matter and as the case of 1989 the Collector (Appeals) may grant early hearing and consider deciding the case early say within a month.
-
1991 (1) TMI 172 - GOVERNMENT OF INDIA
... ...
... ... ..... pression made up means inter alia textiles cut otherwise than into squares or rectangles. As goods here are merely cut in square or rectangles shape, they are excluded from definition. Further, in terms of Section Note 7(b) made up means produced in the finished shape, ready for use (or merely needing separation by cutting) without sewing and other working (for example, certain dusters, towels, table clothes, scarfs, squares, blankets). 4. In the instant case, it is seen from the samples produced that the goods which have been described as cotton handloom gauze cloth (processed not sterile). These are thus not ready for use even adopting the intend of Note 7(b) above. Therefore, these goods cannot be considered as made up articles. In view of this matter and also comparing the goods mentioned in sub-serial Nos. (1) and (2) of Serial No. 2702 ibid it will be difficult to assail the findings of the Collector (Appeals). In the result, Government rejects the revision application.
-
1991 (1) TMI 171 - GOVERNMENT OF INDIA
... ...
... ... ..... c use. Similarly an appliance means a thing applied as means to an end and includes a utensil, device, equipment, etc. In this view of the matter it will be incorrect to hold that chakla and belan are not utensils. Therefore, the Government holds that Chakla and Belan are utensils. 8. As regards the other issues involved in the case i.e. whether these items are made of sheets/strips/circles, the samples brought by the party are seen. On the face of it Chakla, as shown by the party, seems to be made out of die-pressing of sheets and therefore, the Government holds tentatively these are made of sheets. But Belan being made out of aluminium tubes does not seem to qualify for classification under Sr. No. 3805. 9. The matter is accordingly referred back to the Assistant Collector to study in detail the manufacturing process of Chakla (only) and in case these are found to be made of sheets then appropriate drawback as per the extant rates may be sanctioned if otherwise permissible.
-
1991 (1) TMI 170 - GOVERNMENT OF INDIA
Short-landed goods ... ... ... ... ..... ng in mind the overall economic priorities and industrial planning. In special circumstances, like project imports, a flat rate of duty is also imposed for facilitating both assessments and granting concession to the setting up of a project as a whole. If, therefore, a part of the goods do not reach the actual users for whom the exemptions are envisaged imports would not have served the purpose for which exemptions are envisaged. This also strengthen the conclusion reached in preceding para. Section 116 ibid imposes a strict liability on the person incharge of the conveyance. Primarily the object of imposition of penalty is not only to compensate the Government of the loss of revenue, but also to deter other persons from committing the same offence and thereby preventing or hindering the collection of revenue 1986 (24) E.L.T. 469 (Calcutta) . 5. In view of the aforesaid discussions Government upholds the order of the lower authorities and the revision application is rejected.
-
1991 (1) TMI 169 - GOVERNMENT OF INDIA
Short-landing ... ... ... ... ..... und condition is clearly contradicted by CPT s report in B form which is a contemporaneous statutory record of unloading indicating the carton was in RP (repaired condition). The repair could have only been before the unloading. Thus marine surveyors report cannot be accepted and Government will refer report of a statutory authority i.e. Port Trust 1988 (33) E.L.T. 538 . Contention of the party regarding pilferage between the time of loading and insurance survey is also far-fetched and, therefore, not tenable as the survey was conducted within 5 days. If the carton landed in repaired condition, it was for the applicants to have the survey done to verify the extent of their liability which they did not do. Government, therefore, hold that all evidence points to the damage and absence of goods from the carton to events before unloading. Thus, it finds no justification to interfere with the impugned order-in-appeal. 3. The same is upheld and the revision application is rejected.
-
1991 (1) TMI 168 - GOVERNMENT OF INDIA
... ...
... ... ..... 115 dated 27-5-1988 and the identity of the exported goods can be established with reference to this B/E. 5. However, even if the applicant s plea of correct Bill of Entry is accepted the fact still remains that the applicant is not eligible for drawback under Section 74 of the Act ibid inasmuch as the applicant s export product is 100 cotton made ups for which applicant is getting drawback under sub-serial No. 2702 4 on f.o.b. value. This drawback rate is inclusive of packing material used as is laid down in Note 3 to general notes issued under Public Notice No. Drawback/PN-7/88 dated 31-5-1986. The imported goods poly bags have been used as packing material therefore separate drawback for this item cannot be given. Similarly, paper inserts and adhesive (stickers) have undergone into the manufacturing process or packing and therefore they too are not eligible. 6. In view of the aforesaid findings the Revision Application having no merit is rejected and impugned order upheld.
-
1991 (1) TMI 167 - GOVERNMENT OF INDIA
Transfer of Residence Rules, 1978 - Import of one VCR ... ... ... ... ..... ppeals), have on inspection observed the VCR to be new holding that there are no signs of use for over one year. This observation in this respect is vague because there is no rationale method by which the period of use can be found by way of inspection, though one may in a given case say as to whether an item was used or not at all used (say when it is found in factory packed condition, etc.). 4. In view of the observations of the Asstt. Collector and the Collector (Appeals), Government grant benefit of doubt to the applicant holding that the VCR was found to be old and used and accepts the proof of possession of one year as declared. 5. The subject VCR is released under TR Rules with consequential relief to the applicant.
............
|
