Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)50ITD411(Delhi)
1. The assessee. a limited company, has filed this appeal and has raised twelve grounds in this appeal, claiming reliefs under different provisions of Income-tax Act, 1961. The assessee-company is engaged in the business of manufacture of electronic typewriters.Amongst the few issues that have been raised in this appeal, there are five important issues. The first issue, relates to the claim of investment allowance on the ground that, it is a small scale industrial undertaking. The second issue, is claim of deduction under Section 80-1, that is dependent on the outcome of the claim of investment allowance. The third issue, is claim of deduction under Section 80HH, that is dependent the profit derived from the industrial undertaking.The fourth issue, of classification as a manufacturing company for levy of tax at a lower rate, is dependent on the outcome of the third issue.The fifth issue is whether, the excise duty actually paid in the accounting year, which is so allowed to be deducte...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1995)52ITD547(Delhi)
1. By means of these reference applications, the Commissioner of Income Tax, Delhi-VIII, New Delhi seeks reference of the following common question, said to be of law, as arising out of consolidated order dated 2-9-1992 of the Appellate Tribunal in above captioned appeals for assessment years 1979-80, 1980-81 and 1981-82:- Whether, on the facts and circumstances of the case, the Ld. ITAT was correct in holding that the very basis of re-assessment was no more in existence and CIT(A) was right in cancelling the assessment, thereby allowing investment allowance in respect of new plant & machinery used for construction activities without considering the nature of business of assessee-firm and also decision of Hon'ble Supreme Court of India in case of CIT v. N. C. Buddhiraja & Co. Since common question is involved, these reference applications are being disposed of through this consolidated order.2. Facts relating to this case are that the original assessments made in this case wer...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)50ITD51(Delhi)
1. These two appeals - one by the revenue for the assessment year 1989-90 and the other by the assessee for the year 1990-91 involve a common point - whether the assessee is a "Supporting Manufacturer" under Proviso to Sub-section (1) of Section 80 HHC.2. For the assessment year 1989-90, the assessee claimed deduction of Rs. 1,94,44,205 in respect of sale of Rs. 7,48,83,580 made to export house for purposes of export. The 'supporting manufacturer' is defined as per Explanation to Sub-section (4A) of Section 80HHC as under: Supporting manufacturer' means a person being an Indian company or a person (other than a company) resident in India. (Manufacturing goods) or merchandise and selling such goods or merchandise to an Export House or a Trading House, for the purposes of export.2.1 The assessee rested its claim on the following submissions made before the Assessing Officer: 1. Various brokers bring live buffaloes/goats at the factory premises and after visual examination live animals a...
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