Andhra Pradesh Court March 1988 Judgments
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B.V.S.S. Mani Vs. Kowtha Business Syndicate Pvt. Ltd.
Court: Andhra Pradesh
Decided on: Mar-03-1988
Reported in: [1989]65CompCas305(AP)
Jeevan Reddy, J.1. C.P. No. 2 of 1982 is a petition filed under section 433 of the Companies Act, 1956, by a shareholder to wind up the respondent-company, Kowtha Business Syndicate (KBS) P. Ltd., having its registered office at Kowtha Building, Buckinghampet, Vijayawada. C.P. No. 3 of 1982 is a similar petition filed by the same petitioner (shareholder) to wind up the respondent-company. Beehive Engineering and Allied Industries P. Ltd., having its registered office at 10, Padmarao Nagar, Secunderabad. The petitioner in both the petitions is B. V. S. S. Mani. Though it is not specified in the petitions, it is clear that winding up is sought of both the companies under clause (f) of section 433, i.e., on the ground that it is just and equitable that the company is wound up. In C.P. No. 3 of 1982, an additional ground is raised, viz., that the company has defaulted in delivering the statutory report to the Registrar and also in holding the statutory meeting, within the meaning of clause...
Commissioner of Income-tax Vs. Mopeds India Limited
Court: Andhra Pradesh
Decided on: Mar-03-1988
Reported in: [1988]173ITR347(AP)
Y.V. Anjaneyulu, J.(1) This reference concerns the income-tax assessment year 1979-80. The Tribunal referred the following questions of law for consideration of this court : '1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in holding that the Commissioner of Income-tax (Appeals) is not correct in directing the Income-tax Officer to revalue the opening stock also consistently along with the closing stock when it wants to adopt the method known as 'works cost' method for the assessment year 1979-80 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in holding that the guarantee commission constitutes revenue expenditure ?' (2) We may dispose of the second question first, since it is represented that it is covered by the decision of this court in favour of the assessee, viz., Addl. CIT v. Akkamba Textiles Limited : [1979]117ITR294(AP) . Having regard to this representation, we answer the se...
Commissioner of Income-tax Vs. Mohd. Yakoob
Court: Andhra Pradesh
Decided on: Mar-03-1988
Reported in: [1988]174ITR29(AP)
Y.V. Anjaneyulu, J.1. This reference relates to the income-tax assessment years 1971-72, 1972-73 and 1973-74. The question referred for consideration of this court is as under : 'Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in law in cancelling the penalty levied under section 271(1)(c) of the Income-tax Act, 1961 ?' 2. The assessee was a dealer in iron and steel scrap. It is stated that he had voluntarily made an application for settlement of his tax liability in view of certain assets acquired by him and also by his wife. The Income-tax Officer found that, during the assessment years 1971-72 to 1974-75, the total value of assets acquired by the assessee and his wife was Rs. 1,90,436. Possibly, the Officer might have expressed the view that he would subject the above sum of Rs. 1,90,436 to tax and that induced the assessee to go for purchasing peace by settling matters. The assessee stated that most of the assets acquired b...
Srikakollu Subba Rao and Co. and ors. Vs. Union of India and ors.
Court: Andhra Pradesh
Decided on: Mar-03-1988
Reported in: (1988)71CTR(AP)34; 1989(19)ECC107; [1988]173ITR708(AP)
Y.V. Anjaneyulu, J.1. These writ petition give rise to certain common questions of law and it will be convenient to dispose of them together. 2. By the Finance Act, 1983, section 43B of the Income-tax Act, 1961 ('the Act'), was inserted and the provision came into force with effect from April, 1984. The main challenge in these writ petitions is that this provision is unconstitutional inasmuch as it is violative of articles 14 and 19(1)(g) of the Constitution. The relevant provision is extracted below : '43B. Certain deductions to be only on actual payment. - Notwithstanding anything contained in any other provision of this act, a deduction otherwise allowable under this Act in respect of - (a) any sum payable by the assessee by way of tax or duty under any law for the time being in force, or (b) any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity found or any other fund for the welfare of employees, shall be al...
Kandaswamy Gounder and Company Vs. Commissioner of Commercial Taxes
Court: Andhra Pradesh
Decided on: Mar-03-1988
Reported in: [1988]71STC340(AP)
ORDERG. Ramanujulu Naidu, J.1. These two appeals are preferred under section 23(1) of the Andhra Pradesh General Sales Tax Act, 1057, assailing the common order dated 10th November, 1986 passed by the Commissioner of Commercial Taxes, Hyderabad, setting aside the common order dated 23rd August, 1982 passed by the Appellate Deputy Commissioner (Commercial Taxes), Kurnool, in purported exercise of the powers vested in him under section 20 of the Act. 2. The appellant executed certain works for the South Central Railways. On the turnover pertaining to supply of stone-ballast, for the assessment years 1979-80 and 1980-81, he sought exemption from payment of tax. His claim was rejected by the Commercial Tax Officer (Intelligence), Kurnool. He thereupon preferred appeals before the Appellate Deputy Commissioner (Cornmercial Taxes), Kurnool. Accepting the appellant's claims, the appeals were allowed by the Appellate Deputy Commissioner (Commercial Taxes), Kurnool, by his common order dated 23...
Union Bank of India Vs. P. Krishnaiah and anr.
Court: Andhra Pradesh
Decided on: Mar-03-1988
Reported in: AIR1989AP211
K. Ramaswamy, J.1. The appellant-Bank lent to the respondents a sum of Rs. 35,000/- on the foot of a promissory note, Ex. A-1 dated September 18, 1975, a letter of guarantee Ex. A-2 of the even date executed by the 2nd defendant and an equitable mortgage executed by the 1st defendant by depositing of title deeds, Exs. A-4 and A-5 dated July 19, 1967 and July 14, 1973 respectively. The trial Court granted a money decree against both the defendants for Rs. 35,000/- with 12% simple interest thereon per annum from the date of the suit till date of realisation. The contracted rate is 16 1/2%. The appellant is aggrieved against the rate of interest scaled down by the trial Court from the contractual rate. Sri Harnath, learned counsel for the appellant, has realised on Section 79 of the Negotiable Instruments Act, 26 of 1881 (for short the Act) which postulates thus :'When interest at a specified rate is expressly made payable on a promissory note or bill of exchange, interest shall be calcul...
K.C.P. Ltd. Vs. Commissioner of Income-tax
Court: Andhra Pradesh
Decided on: Mar-02-1988
Reported in: (1988)73CTR(AP)181; [1988]174ITR225(AP)
Y.V. Anjaneyulu, J. 1. At the instance of the assessee, the Income-tax Appellate Tribunal referred the following question of law for the consideration of this court in connection with the assessment years 1976-77, 1977-78 and 1978-79. 'Whether, on the facts and in the circumstances of the case, the sugar plant and machinery, distillery plant and machinery and molasses tanks would come into contact with corrosive chemicals and consequently whether such machinery is entitled to depreciation at 15% under item-7 of entry III(ii) B of Part I of Appendix I of the Income-tax Rules, 1962 ?' 2. The assessee, a public company, carries on business, inter alia, in the manufacture and sale of sugar. In connection with the income-tax assessment years 1977-78 and 1978-79, the assessee put forward a claim that it was entitled to depreciation on its plant and machinery at 16%. That depreciation was allowed. Later on, the successor Income-tax Officer seems to have realised that the allowance of deprecia...
Nagaraju and Brothers Vs. State of Andhra Pradesh
Court: Andhra Pradesh
Decided on: Mar-02-1988
Reported in: [1989]74STC25(AP)
Ramanujulu Naidu, J. 1. The petitioner is a dealer in general goods including VIP suitcases. For the assessment year 1981-82 the petitioner sought exemption on the turnover of Rs. 3,19,069.01 representing the second sale of VIP suitcases. The assessing authority accepted the claim of the petitioner and granted exemption as asked for by the petitioner holding that VIP suitcases were covered by entry 113 of the First Schedule to the Andhra Pradesh General Sales Tax Act. However, the Deputy Commissioner, C.T., Visakhapatnam, in exercise of the powers of revision vested in him set aside the order of the assessing authority and subjected the entire turnover to tax under section 5(1) of the Act treating the same as general goods. The petitioner unsuccessfully carried the order of the Deputy Commissioner before the Sales Tax Appellate Tribunal. The Tribunal following an earlier order dated 12th March, 1987 passed in T.A. No. 566 of 1984 on its file upheld the order of the Deputy Commissioner....
P. Satyanarayana Vs. P. Venkatarao and ors.
Court: Andhra Pradesh
Decided on: Mar-02-1988
Reported in: AIR1989AP273
1. Appellant-plaintiff filed an application under Order 20, Rule 12, C. P.C. to ascertain mesne profits in a final decree proceedings at a partition action. He claimeda sum of Rs. 3,265/-, The trial Court granted a sum of Rs. 1,880-89 Ps. dissatisfied therewith, he filed this appeal. 2. The first respondent-first defendant was the manager of the joint family. The appellant avers that pendente lite, the first respondent kept fallow Ac. 1-44 cents of land that fell to his share to wrongfully deprive him pf his share of profits therefrom. The suit was laid on December 2. 1963 from which date there is severance in status of the joint family. The manager is thereby liable to pay the mesne profits from that date till July 4, 1971 the date on which the lands were allotted. It is an admitted fact that the lands remained fallow during that period. The trial Court negatived the contention holding that a manager of the joint family is liable to account for the profits actually derived but not lia...
Machilipatnam Central Consumers Co-operative Stores Limited Vs. Commis ...
Court: Andhra Pradesh
Decided on: Mar-01-1988
Reported in: [1988]71STC153(AP)
Anjaneyulu, J.1. The appellant in these cases is a co-operative society carrying on business in rice and other consumable goods. During the years 1982-83 and 1983-84, the assessee claims to have purchased rice from Phani Enterprises, Machilipatnam and Sri Sai Lakshmi Rice Traders, Machilipatnam. At the relevant time sales tax is payable on sales of rice at the first point. Consequently the assessee claimed that no tax is payable in respect of the sale of rice corresponding to the purchases from the aforesaid persons. 2. Even before the assessment proceedings were completed the Commercial Tax Officer visited the premises of the assessee, seized certain documents and after scrutiny held that the claim of the purchase from the aforementioned persons was bogus. According to the Commercial Tax Officer the sales were merely paper sales and in order to avoid payment of tax at the first point the assessee manoeuvred to obtain certain bills and produced the same as if he has purchased the rice ...
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