Andhra Pradesh Court October 1998 Judgments

Commissioner of Wealth Tax Vs. A.V. Reddy, Trust Shri B.V. Harish Redd ...

Court: Andhra Pradesh

Reported in: [1999]106TAXMAN631(AP)

ORDERMaruthi, J. - Reference is made at the instance of the revenue. The assessee had shares in India Fruits (P.) Ltd. In computing the market value of the equity shares under rule I D of the Wealth-tax Rules, 1957 ('the Rules', deduction of provision for taxation as a liability should be restricted to the actual tax due on admitted profits after deducting advance tax already paid. On appeal, the appellate authority accepted the contention of the assessee that full amount of provision for taxation as accepted without excluding therefrom the advance tax paid which appeared as an asset on the assets side in the balance sheet, should be deducted. The appellate authority accepted the contention of the assessee. On a further appeal to the Tribunal, the Tribunal held that the advance tax paid would not fall to be deducted from the provision for taxation appearing on the liability side. In holding as above, the Tribunal followed its decision in the case of the assessee for the earlier year. H...

Deepthi Coaching Centre Vs. Itta Krishnaiah

Court: Andhra Pradesh State Consumer Disputes Redressal Commission SCDRC Hyderabad

S. Parvatha Rao, President: 1. In this revision petition the petitioner questions the order dated 3.4.1997 of the Guntur District Forum in E.P. No. 48/1996 in O.P. No. 147/1996 holding its Director guilty for the non-compliance of the original order dated 3.9.1996 in O.P. No. 147/1996 as modified by order dated 28.11.1996 passed in LA. No. 228/1996 and imposing on him a fine of Rs. 1,000/- and also a sentence to undergo simple imprisonment of one month and in default of payment of fine to undergo simple imprisonment for one week. The impugned order also directed warrant against Sri V. Venkateswara Rao, the Director of the petitioner, for production before the Guntur District Forum for payment of the fine and also to undergo the imprisonment awarded. 2. We find that the order itself states that the execution petition was filed under Section 25 of the Consumer Protection Act, 1986 (the Act for short). The record of the District Forum in the E.P. also disclose that execution petition was ...

Commissioner of Income-tax, A.P.,-i, Hyderabad Vs. Novapan India Ltd., ...

Court: Andhra Pradesh

Reported in: 1998(6)ALD774; 1998(6)ALT696; [1999]236ITR746(AP)

ORDERS.V. Maruthi, J. 1. Before the Supreme Court, in Civil Appeal No.3098 of 1990, two questions were raised for consideration at the instance of the Commissioner of Income Tax, Andhra Pradesh. The two questions read as follows:'1. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is justified in upholding Commissioner of IncomeTax (Appeals) Orders that the reassessment proceedings are not valid? 2. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is justified in holding that the interest on the short-term Bank deposits cannot be considered as assessee's income?' The Supreme Court answered Question No.2 in favour of the Revenue on the ground that the said question is concluded by a judgment of the Supreme Court in Tuticorin Alkali Chemicals and Fertilisers Ltd. v. Commissioner of Income Tax : [1997]227ITR172(SC) . Accordingly, the appeal was allowed and the matter was remanded by the Supreme Court d...