Chennai Court October 1999 Judgments
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Gem and Co. Vs. E.S.i. Corporation
Court: Chennai
Decided on: Oct-07-1999
Reported in: (2000)IILLJ68Mad
K.P. Sivasubramaniam, J.1. This appeal is directed against the order of the learned I Additional City Civil Judge, Madras in E.S.I. O.P. No. 133 of 1988. The petitioner before the E.S.I. Court is the appellant in the above appeal. 2. As against the order passed under Section 45 of the Employees' State Insurance Act, 1948 (hereinafter called as 'the Act') by the Assistant Regional Director, O.P. 133 of 1988 came to be filed by the appellant. According to the appellant they are carrying on business of sales, service and repairs of fountain pens, employing 16 employees. It also employs salesman in all the above three show rooms and they are paid wages as per the scales prescribed. One month's salary is paid as bonus at the time of Pongal. In order to motivate the individual salesmen to optimise the sales, the petitioner pays to them an annual commission on the sales effected by them during the period of April 1 of every year to March 31 of the following year. After the completion of the y...
Chamundi Steel Castings (India) Ltd. Vs. Cegat
Court: Chennai
Decided on: Oct-07-1999
Reported in: 2000(68)ECC246; 2000(115)ELT44(Mad)
ORDERE. Padmanabhan, J.1. In this Writ Petition, this Court ordered notice of motion on 18-8-1999. The respondents have been served and they also filed a counter.2. Heard Mr. K. Jayachandran, learned Counsel appearing for the petitioner and Mr. V.M.G. Varadarajan, learned Additional Central Government Standing Counsel, appearing for the respondents.3. In this Writ Petition, the petitioner prays for the issue of a Writ of Certiorarified Mandamus calling for the records relating to the order passed by the second respondent in Order No. 6 of 1999 dated 29-1-1999 and quash the same as illegal and without authority of law and further direct the second respondent to grant abatement as per Section 3A(3) of Central Excise Act, for the period from 1-9-1997 to 31-12-1998, during which period, the furnaces were not functioning and no manufacturing activity carried on or excisable goods produced through the non-functioning furnaces.4. On behalf of the respondents, a detailed counter has been filed...
Commissioner of Income Tax Vs. Ruti Machinery Works Ltd.
Court: Chennai
Decided on: Oct-07-1999
Reported in: [2000]109TAXMAN407(Mad)
ORDERJayasimha Babu, J.The question referred to us is a composite one covering the issue raised by the assessee regarding royalty and the issue of technical know-how raised by the revenue. The assessment years involved are 1976-77, 1977-78 and 1979-80 insofar as the technical know is concerned, and in respect of royalty payment, the assessment years are 1979-80 and 1980-8 1.2. The composite question referred to us is to whether on the facts and in the circumstances of the case the technical know-how and the royalty payable under the collaboration agreement dated 9-4-1974 between the assessee and Lakshmi Automatic Loom Works has accrued or deemed to have been accrued in India within the meaning of section 9 of the Income Tax Act, 1961 so as to be exigible to income-tax.3. The assessee is a company incorporated in Switzerland. It manufactures weaving machines and is said to be 130 years old. It entered into a collaboration agreement with Lakshmi Automatic Loom Works Ltd. The collaboratio...
Commissioner of Income Tax Vs. National Textile Corporation (Tn and P) ...
Court: Chennai
Decided on: Oct-07-1999
Reported in: [2000]109TAXMAN300(Mad)
Jayasimha Babu, J. The undertaking belonging to Cambodia Mills was taken over by the Central Government under the Sick Textile Undertakings (Nationalisation) Act, 1974 (hereinafter referred to as `the Act'). Notwithstanding the transfer of the mill to the Central Government under section 3(1) of the Act, the Company -Cambodia Mills as a legal entity did not cease to exist. That Act in section 2(h) defines 'Owner'. The definition of 'Sick Textile Undertaking' is found in section 2(j). Reading the two together, it is clear that the 'Owner' is distinct from the 'Sick Textile Undertaking'. What the Act provided for is only the acquisition of the sick textile undertaking. The owner of the undertaking was to be paid compensation, the amount of which is set out in the schedule to the Act. Cambodia Mills is mentioned in the schedule at Serial No. 23. The amount payable to it as compensation is Rs. 64,40,000, section 5 of the Act makes it clear that the owner of the undertaking continues to be ...
Lkp Merchant Financing Ltd., 608a, Spencer Plaza, 769 Annasalai, Chenn ...
Court: Chennai
Decided on: Oct-06-1999
Reported in: 1999(3)CTC525; (2000)1MLJ24
ORDER1. The petitioners have filed the above writ petitions seeking to issue a writ of mandamus directing the respondents to withdraw and cancel the condition contained in para 4(a) of the notice inviting tender dated 13.9.1999and issue a fresh notice inviting tender for the purpose of allotting money exchange counters at Chennai which shall not include the said condition.2. The petitioners are carrying on business as money changers under valid licences given by the Reserve Bank of India at various places including Chennai. Till recently, according to the petitioner, the money changers/authorised dealers are permitted to operate money exchange counters at airports by private treaty. For the first time, the Airport Authority of India, Chennai, the 1st respondents invited sealed tenders in the prescribed form from reputed authorised money exchange agencies, nationalised and Foreign Bank for setting up and operation of Money Exchange Counters at 6 locations in Anna International Terminal ...
Commissioner of Income-tax Vs. N.M.A. Mohammed Haneefa
Court: Chennai
Decided on: Oct-06-1999
Reported in: [2001]247ITR66(Mad)
R. Jayasimha Babu, J.1. It was the submission of learned counsel for the assessee that the words 'full value of the consideration received or accruing' found in Explanation 5 to Section 54E of the Income-tax Act, 1961, mean only the actual amount received by the transferor of the capital asset, and would not include that part of the total consideration for the transfer, which is applied for the discharge of debts, more particularly debts secured by mortgage of the property transferred. Counsel contended that Section 54E of the Income-tax Act is a beneficial provision intended to confer an advantage on the assessee and must be liberally construed so as to advance that object. It was also the submission of counsel that the method of calculation of capital gain under other provisions of the Act would have no bearing on the meaning to be assigned to the term 'net consideration', for which a special definition has been provided in Explanation 5 to Section 54E of the Income-tax Act.2. These ...
Commissioner of Wealth-tax Vs. K. Vijayakumar
Court: Chennai
Decided on: Oct-06-1999
Reported in: [2000]243ITR271(Mad)
R. Jayasimha Babu, J. 1. Two questions have been referred to us at the instance of the Revenue :'1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the additional wealth-tax is not leviable in respect of agricultural lands lying within eight kilometers of the municipal limit ?2. Whether, on the facts and in the circumstances of the case, the Tribunal has valid materials to hold that the properties standing in the name of Vijayakumar Cotton Press are to be considered as used for business purposes and hence are exempt from levy of additional wealth-tax ?'The assessment years are 1975-76 and 1976-77. The assessment was under the Wealth-tax Act.2. The assessee owns agricultural lands within eight kilometers from Coimbatore municipal limit. The assessee also has a cotton press with a godown known as 'Vijayakumar Cotton Press' in a portion of the land. The assessee claimed exemption from the additional wealth-tax on the ground that the...
Commissioner of Income-tax Vs. Bharat Overseas Bank Ltd.
Court: Chennai
Decided on: Oct-06-1999
Reported in: (2000)162CTR(Mad)158; [2000]243ITR320(Mad)
R. Jayasimha Babu, J.1. The assesses, which is a bank, maintained a branch at Bangkok. At that branch, it received deposits from its customers and paid interest to those depositors. The interest so paid during the assessment year 1981-82 aggregated to Rs. 99,57,721. The assessee claimed the benefit of weighted deduction in respect of the sum by placing reliance on Section 35B(1)(b)(iv) of the Income-tax Act, 1961.2. Section 35B bears the heading, export markets development allowance. By Sub-section (1)(a), deduction is allowed to the assessee on a sum equal to one and one-third times the amount of expenditure incurred on the items specified in Section 35B(1)(b) of the Act. Section 35B(1)(b) of the Act as it stood prior to the amendment by the Finance (No. 2) Act, 1980, contained nine clauses. Clause (i) of Section 35B(1)(b) referred to expenditure on advertisement or publicity outside India ; Clause (ii) to expenditure on obtaining information regarding markets outside India ; Clause (...
Commissioner of Income Tax Vs. N.M.A. Mohammed Haniffa
Court: Chennai
Decided on: Oct-06-1999
Reported in: (2000)162CTR(Mad)57
R. Jayasimha Babu, J.It was the submission of the learned counsel for the assessee that the words 'full value of the consideration received or accruing' found in Explanation 5 to section 54E of the Income Tax Act, mean only the actual amount received by the transferor of the capital asset, and would not include that part of the total consideration for the transfer, which is applied for the discharge of debts, more particularly debts secured by mortgage of the property transferred. Counsel contended that section 54E of the Income Tax Act is a beneficial provision intended to confer an advantage on the assessee and must be liberally construed so as to advance that object. It was also the submission of counsel that the method of calculation of capital gain under other provisions of the Act would have no bearing on the meaning to be assigned to the term 'net consideration' for which a special definition has been provided in Explanation 5 to section 54E of the Income Tax Act.2. These argume...
Commissioner of Income Tax Vs. M.A. Chidambaram
Court: Chennai
Decided on: Oct-06-1999
Reported in: (2000)164CTR(Mad)76; [2000]243ITR260(Mad); [2000]107TAXMAN567(Mad)
ORDERJayasimha Babu, J.The assessee is maintaining horses which are also owned by the assessee for the purpose of running them in horse-races. The assessee incurred expenditure on such maintenance during the previous year relevant to the assessment year 1979-80. The horses so maintained by the assessee did not participate in any of the races during that year and the assessee did not have any income from participation in race including horse-race in that year.2. The assessee claimed that expenditure as loss for the year and sought to set off the same against the income derived by the assessee from other sources. That claim of the assessee was negatived by the Income Tax Officer but was accepted by the Commissioner. The Tribunal affirmed the order of the Commissioner by holding that the source under which the cost of maintenance of the race-horses is to be considered is not any of the sources referred to in section 74A(2) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act')...
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