Gujarat Court September 1993 Judgments
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Commissioner of Income-tax Vs. Gujarat State Financial Corporation
Court: Gujarat
Decided on: Sep-01-1993
Reported in: [1994]210ITR698(Guj)
G.T. Nanavati, J.1. Even though the Tribunal has made only one reference, they are numbered as four references as they pertain to four different assessment years and really arise out of four orders passed in four separate appeals before the Tribunal. Question No. 1 referred to this court is common in all the references and question No. 2 pertains to the assessment years 1975-76 and 1976-77. They are as under : '(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in coming to the conclusion that the relief under section 36(1)(viii) of the Income-tax Act, 1961, should be worked out. for all the years on the basis of 40 per cent. of the total income before deduction (a) under section 36(1)(viii) and (b) under Chapter VI-A (2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in coming to the conclusion that the sums of Rs. 61,186 for the assessment year 1975-76 and Rs. 34,736 for the assessment year 1976-77 ...
Commissioner of Income-tax Vs. New Asarva Mills P. Ltd.
Court: Gujarat
Decided on: Sep-01-1993
Reported in: [1994]208ITR1038(Guj)
G.T. Nanavati, J.1. The Income-tax appellate Tribunal, Ahmedabad, has referred the following question to this court under section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts and in the circumstances of the case, the assessee is entitled to the deduction of gratuity amount of Rs. 11,03,902 ?' 2. The assessee made a provision for gratuity of Rs. 11,09,788 as per the actuarial valuation during the previous year relevant to the assessment year 1973-74. The assessee's relevant accounting period ended on December 31, 1972. It made a claim for deduction of this amount. The Income-tax Officer rejected the same as he found that all the necessary conditions laid down by section 40A(7) were not till then fulfilled. He, however, observed in his order that deduction of the amount as per the Act and the Rules would be allowed under section 155(13) when all the necessary conditions are fulfilled. The assessee had created a gratuity fund and had applied for its approval before January 1...
Agew Steel Manufacturers Pvt. Ltd. Vs. Commissioner of Income-tax
Court: Gujarat
Decided on: Sep-01-1993
Reported in: (1994)122CTR(Guj)230; [1994]209ITR77(Guj)
Y.B. Bhatt, J.1. The present reference under section 256(1) of the Income-tax Act, 1961, raises the following questions for our opinion :'1. Whether, on the facts and circumstances of the case, the Tribunal was right in upholding the order of the Commissioner of Income-tax (Appeals) that 15% of the interest on Rs. 5,01,290 under section 40A(8) of the Income-tax Act requires to be disallowed ? 2. Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the provisions of section 40A(8) are also applicable to interest paid to friends and relatives of the directors and directors/shareholders on loans and borrowings from them ?' 2. The short question which arises here in the context of section 40A(8) is whether the interest paid by the assessee-company on amounts received from its directors, their friends and relatives can be subjected to a disallowance of 15 per cent. as contemplated by the said section.3. The main controversy is whether the amounts which...
Shantilal K. Naik Vs. State of Gujarat and anr.
Court: Gujarat
Decided on: Sep-01-1993
Reported in: (1993)2GLR1418
M.S. Parikh, J.1. Leakages in a dam and delays in inquiry' may aptly be described as a title to this petition under Article 226 of the Constitution of India. What is prayed for by the petitioner may be reproduced:(b) Be pleased to issue a writ of mandamus or any other appropriate writ, order or directions by quashing and setting aside the charge-sheet dated 1-12-1992 Annexure 'A' and further be pleased to direct the respondents to consider and promote the petitioner to the post of Executive Engineer with effect from the date his immediate juniors are promoted, with all consequential and incidental benefits;(c) Pending admission, hearing and final disposal of this petition, be pleased to direct the respondents not to withhold the promotion of the petitioner if otherwise found fit by the Departmental Promotion Committee, on the ground of charge-sheet at Annexure 'A' and not to adhere to sealed cover procedure and be pleased to direct the respondents to promote the petitioner if found fit...
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