Madhya Pradesh Court January 1983 Judgments
Gwalior Rayon Silk Mfg. (Wvg.) Co. Ltd. Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Jan-31-1983
Reported in: (1983)37CTR(MP)232; [1983]143ITR590(MP)
G.P. Singh, C.J.1. This is a reference under Section 256(1) of the I.T. Act, 1961.2. The assessee is a company. The relevant assessment year is 1962-63 for which the previous year is the financial year 1961 -62. The company carries on the business of manufacturing, inter alia, staple fibre and art silk fabrics and of exporting its goods outside India. The questions in this reference relate to calculation of tax deduction allowance under Section 2(5) of the Finance (No. 2) Act, 1962. The ITO in calculating the value of the turnover of exports for computation of qualifying income, under Rule 2(3) of the Income-tax (Determination of Export Profits) Rules, 1962, took into account only the value of goods exported as per invoice amounting to Rs. 8,25,668. The assessee-company submitted before the ITO that three further items should be taken into account in calculating the value of the turnover of exports. These items are: (i) Rs. 1,41,402, being drawback of customs duty, (ii) Rs. 86,526, bei...
Tag this Judgment!Commissioner of Income-tax Vs. Gwalior Rayon Silk Mfg. (Wvg.) Co. Ltd.
Court: Madhya Pradesh
Decided on: Jan-28-1983
Reported in: (1983)37CTR(MP)245; [1984]146ITR178(MP)
G.P. Singh, C.J.1. This is a reference made by the Income-tax Appellate Tribunal referring for our answer the following question of law ;'Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the entire amount of dividend of Rs. 59,944 instead of Rs. 23,976 is deductible from the total income in computing the chargeable profits as provided under Clause (viii) of Rule 1 of the First Schedule to Section 2(5) of the Companies (Profits) Surtax Act, 1964?'The relevant assessment year is 1968-69. The assessee is a company and the reference relates to assessment of surtax. The assessee had received gross dividend income of Rs. 59,944 from Indian companies in the relevant previous year. In computing the chargeable profits for purposes ofsurtax, the ITO allowed a deduction of Rs. 23,976 as income by way of dividend received from Indian companies on the ground that 60% of the gross dividend income had already been deducted while computing total...
Tag this Judgment!Union of India (Uoi) Vs. Ishwar Bhai
Court: Madhya Pradesh
Decided on: Jan-24-1983
Reported in: 1984(18)ELT751(MP)
M.D. Bhatt, J.1. This is the appeal preferred by the Union of India for enhancement of the sentence of the respondent accused, who, on his conviction under Rule 151 of the Central Excise Rules 1944 (hereinafter referred to as the Excise Rules), has been sentenced to pay the fine of Rs. 500/- and in default of fine, to undergo three months' S.I.2. The Assistant Collector, Central Excise of Raipur Division had prosecuted the present respondent accused Ishwar Bhai and one more person Kanti Bhai for commission of various offences punishable under certain sections of the Central Excises and Salt Act, 1944 and/read with certain Rules of the Central Excise Rules, 1944. Kanti Bhai was acquitted by the trial Court of all the offences in question. The respondent-accused too was acquitted by the trial Court of all offences except the one committed under Rule 151 (c) and (d) of the Central Excise Rules, 1944. As regards the offences of which the respondent-accused has been acquitted, another appea...
Tag this Judgment!Municipal Council, Satna Vs. Birla Jute Manufacturing Company Ltd., Sa ...
Court: Madhya Pradesh
Decided on: Jan-22-1983
Reported in: AIR1983MP161
G.P. Singh, C.J.1. The Municipal Council. Satna by this petition under Article 226 of the Constitution, challenges the assessment of property tax for the year 1975-76 on the lands and buildings of M/s Birla Jute ., which has a cement factory at Satna under the privisions of the Madhya Pradesh Nagriya Sthawar Sampatti Kar Adhiniyam, 1964.2. The property tax under the Adhiniyam is assessed and collected by the State Government. Sixty per cent of the tax realised in respect of the lands or buildings within the limits of a local authority is to be paid to that authority by the Government after deducting collection charges, as is provided in Section 36 of the Adhiniyam. The case of the petitioner Council is that the tax was assessed contrary to the principles set out in the Adhiniyam and was very low and as the Council has to get 60% of the tax realised, it had a sufficient interest to file this petition for challenging the assessment. The fact that the petitioner Council is entitled to 60%...
Tag this Judgment!Controller of Estate Duty Vs. Kanhaiyalal (Decd.) (Accountable Person ...
Court: Madhya Pradesh
Decided on: Jan-21-1983
Reported in: [1983]142ITR868(MP)
Vijayvargiya, J. 1. By this reference under Section 64(1) of the E.D. Act, 1953 (hereinafter referred to as ' the Act'), the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following questions of law for the opinion of this court: ' 1. Whether, on the facts and circumstances of the case, the Tribunal was in law justified in holding that 1/2 of the property passed on the death of Mohanlal. 2. Whether, on the facts and circumstances of this case, the Tribunal was in law justified to hold that Smt. Kessarbai was entitled to share at the moment of the death of Mohanlal ' 2. The facts giving rise to this reference as set out in the statement of the case are as follows : The deceased Mohanlal Ladha died on February 19, 1966. The accountable person, Kanhaiyalal, was the son of the deceased. Kanhaiyalal died during the pendency of this reference and the present respondents have been substituted as his legal representatives. The accountable person filed an account of the ...
Tag this Judgment!Kanhyalal and Ramswaroop Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Jan-20-1983
Reported in: [1984]149ITR157(MP)
Sohani, J. 1. By this reference under Section 256(1) of the LT. Act, 1961 (hereinafter referred to as ' the Act '), the. Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this Court for its opinion: 'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that a sura of Rs. 45,945 was not allowable as deduction under Section 54 of the Act for the purpose of assessing the net capital gain in the hands of the assessee-HUF '2. The material facts giving rise to this reference briefly are as follows : The assessee is a HUF and the assessment year in question is 1976-77. In that assessment year the assessee sold its house on 1st January, 1975, for a sum of Rs. 83,000. After deducting the cost, the capital gains worked out at Rs. 64,465. The assessee, however, contended that the assessee had purchased a house for Rs. 44,945 on December 31, 1975, and the assessee, therefore, claimed deduction under Section...
Tag this Judgment!Satishchandra Arya Vs. Income-tax Officer, Special and Survey Ward Cir ...
Court: Madhya Pradesh
Decided on: Jan-20-1983
Reported in: [1984]146ITR334(MP)
Vijayvargiya, J. 1. The material facts giving rise to this petition under Articles 226 and 227 of the Constitution are as follows :The petitioner is the karta of the HUF, Satish Chandra Arya. According to the petitioner he along with other persons formed a co-ownership for the purpose of constructing godowns at Dewas and earning income by hiring out the same. The petitioner filed two returns of his income for the assessment year 1978-79, the relevant accounting year having ended on March 31, 1973. One return was filed by the petitionerin his status as an individual and other in the status of HUF. In both the returns the petitioner included the share of income of the assessee from the property said to be owned by the co-ownership concern, M/s. Sadhna Enterprises. The income disclosed by the assessee in the returns was Rs. 452 and Rs. 160, i.e., below the taxable limit. It is alleged that the respondent made enquiry into the returns filed by the petitioner. However, on March 23, 1981, th...
Tag this Judgment!Synpro Industries Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Jan-18-1983
Reported in: [1984]146ITR176(MP)
Sohani, J.1. By this reference under Section 256(1) of the I.T. Act, 1961 (hereinafter referred to as 'the Act'), the Income-tax Appellate Tribunal, Indore Bench, Indore, has referred the following question of law to this court forits opinion :'Whether, under the facts and circumstances of the case, the Tribunal was justified in disallowing Rs. 12,000, being commission paid to Shri J.M. Nadkarni, under Section 40A(2) of the Income-tax Act, 1961 ' The material facts giving rise to this reference, briefly, are asfollows :The assessee is a registered firm. While framing the assessment for the assessment year 1975-76, the ITO found that a payment of Rs. 12,000 was shown to have been made by the assessee, by way of commission, to Shri J.M. Nadkarni, the works manager of the assessee-firm and husband of a partner of the assessee-firm. The assessee was thereupon asked to justify the payment of commission of Rs. 12,000 made to Shri J.M. Nadkarni. After taking into consideration the explanation...
Tag this Judgment!Jivajirao Sugar Co. Ltd. Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Jan-17-1983
Reported in: [1984]147ITR192(MP)
Sohani, J. 1. By this reference under Section 256(1) of the I.T. Act, 1961 (hereinafter referred to as 'the Act'), the Income-tax Appellate Tribunal, Indore Bench, has referred the following questions of law to this court for its opinion:'(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in disallowing the appellant-company's claim for gratuity amounting to Rs. 10,10,453 in the A.Y. 1974-75 ? (2) Whether the deduction of liability for the provision of gratuity arose in the A.Y. 1974-75 relevant to the accounting year ended June 30, 1973, only or in the A.Y. 1973-74 in respect of the provision for liability for the earlier years, when the provisions of the Gratuity Act, 1972, came into force; w.e.f. September 16, 1972, and the applicant is maintaining books of account on mercantile basis ? (3) Whether Section 40A(7) of the I.T. Act, 1961, does not permit the deduction of gratuity liability under Section 40A(7)(b)(i) for the purpose of paym...
Tag this Judgment!Ramsing and Co. Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Jan-17-1983
Reported in: (1984)40CTR(MP)108; [1984]146ITR166(MP)
Vijayvargiya, J.1. By this application under Section 256(2) of the I.T. Act, 1961 (hereinafter referred to as 'the Act'), the applicant has prayed that the Income-tax Appellate Tribunal he directed to state a case and refer questions of law arising out of 'the order of the Tribunal dated April 16, 1980, passed in I.T.A. No. 584/Ind./79.2. The facts giving rise to this application briefly stated are as follows : While framing the assessment of the assessee for the assessment: year 1975-76, the relevant accounting year being the financial year 1974-75, the ITO noticed the following cash credits in the accounts of the assessee;NameAmountRs.1. BherulalKanhaiyalal8,000(+) Interest6802. KanhaiyalalHiranand Lala9,200(+) Interest4133. Ganpatlal Mahabir12,000(+) Interest1,140The ITO was not satisfied regarding the genuineness of the above cash credits. He, therefore, required the assessee to prove their genuineness. After considering the materials placed by the assessee, the ITO held that the c...
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