Mumbai Court February 1979 Judgments
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Commissioner of Income-tax, Bombay City-iii Vs. Plastics Packing P. Lt ...
Court: Mumbai
Decided on: Feb-08-1979
Reported in: [1982]134ITR236(Bom)
S.K. Desai, J.1. The question referred to us by the Income-tax Appellate Tribunal reads as follows: 'Whether, on the facts and in the circumstances of the case, the assessee was entitled to relief under section 15 C of the Indian Income-tax Act, 1922, for the assessment years 1960-61 and 1961-62, and under section 84 of the Income-tax Act, 1961, for the assessment years 1962-63 and 1963-64 ?' 2. We are concerned in this reference with four assessment years, namely, 1960-61, 1961-62, 1962-63 and 1963-64. It is obvious that the first two of these four years will be governed by the Indian I.T. Act 1922, and the later two years by the I.T. Act, 1961. 3. It is unnecessary to give a detailed order inasmuch as the Tribunal it appears to us, has found in favour of the assessee on a limited footing, which footing is not in accordance with the law as declared by this High Court. 4. The question being considered was, was the benefit available to the assessee under s. 15C of the Indian I.T. Act, 1...
NagIn Mansukhlal Dagli Vs. Haribhai Manibhai Patel
Court: Mumbai
Decided on: Feb-08-1979
Reported in: AIR1980Bom123
Madon, J.1. The question with respect to this Court's jurisdiction to entertain and try this suit filed on the Original Side has been referred to a Division Bench by a learned single Judge of this High Court and now comes before us for our determination.2. The Plaintiff is the monthly tenant of a flat on the ground floor of a building belonging to Ashok Nagar Cooperative Housing Society Limited situate at 10th North-South Road, Juhu-Vile Parle Development Scheme, Bombay-400056. By an agreement dated June 20, 1968 the Plaintiff granted to the Defendant leave and licence to occupy the said flat upon terms and conditions contained in the said agreement. The said licence was for a period of all months commencing from June 15, 1968, and the licence fee mentioned therein was a sum of Rs. 400 per month. By clause 14 of the said agreement the Defendant covenanted that , on the termination of the said licence he would remove himself quietly and peacefully along with his family members and his s...
Ramdayal Somani and Company Vs. Commissioner of Income-tax, Bombay Cit ...
Court: Mumbai
Decided on: Feb-07-1979
Reported in: (1979)13CTR(Bom)78; [1979]119ITR1(Bom); [1979]1TAXMAN424(Bom)
Chandurkar, J. 1. The assessee-firm carries on speculation business in shares, bullion and various other commodities. It is dealing in forward contracts in respect of Morarjee Gokuldas Spinning and Weaving Mills shares from November 24, 1961. The assessment year in question is 1964-65, the relevant accounting year being Divali year ending on October 17, 1963. On November 9, 1968, a party with whom the assessee had entered into a contract for forward delivery of shares wanted the contracts to be closed either by payment of difference or by actual delivery of shares. The assessee, therefore, borrowed 300 shares of Morarjee Gokuldas Spinning and Weaving Mills from one Smt. Savitridevi Gopalka and delivered them to the said party. The assessee-firm then purchased 530 shares, out of which 200 shares were returned to the said Savitridevi and the balance of 330 shares were sold in the market. In this transaction, the assessee made a profit of Rs. 38,101 and after deducting the bank charges of...
Bhanumati A. Sanghavi Vs. Commissioner of Income-tax, Bombay City-iii
Court: Mumbai
Decided on: Feb-07-1979
Reported in: (1979)13CTR(Bom)80; [1979]119ITR69(Bom); [1979]2TAXMAN57A(Bom)
Desai, J. 1. This is a reference at the instance of the assessee under s. 66(1) of the Indian I. T. Act, 1922. The assessee before us is Smt. Bhanumati A. Sanghavi, an individual, who had received certain gifts from her mother and sister in 1948. We are concerned in this reference with the assessment year 1961-62. 2. With an idea to employ the gifted amounts profitably, the assessee started purchasing plots of land. In Samvat Year 2009, she purchased a plot of land measuring 1,570 sq. yards with a built up house thereon for Rs. 6,001 which house was subsequently let out by the assessee on rent. In Samvat Year 2011, she again purchased a plot at Wadala in Bombay City admeasuring 997 sq. yards for Rs. 1,247. This piece of land was subsequently sold by her in S. Y. 2013 for Rs. 30,160 earning thereby a surplus of Rs. 28,913. This surplus was treated as a capital gain by the income-tax department. The contention of the assessee was that the sale was effected to enable her to purchase a big...
Commissioner of Income-tax, Bombay City-ii Vs. Ballimal Nawalkishore
Court: Mumbai
Decided on: Feb-07-1979
Reported in: (1980)14CTR(Bom)37; [1979]119ITR292(Bom); [1979]1TAXMAN287(Bom)
Chandurkar J.1. The assessee, in this case, carries on the business of exhibiting films in a theatre called Naval Talkies, Panipat. The assessee had originally purchased a ginning factory in the year 1937. The factory itself was constructed in 1901. The assessee ran the factory till 1940 and after the ginning factory was stopped the factory premises were converted into a cinema theatre in 1945. Originally, the amount invested in the building was Rs. 17,871. The building was, however, extensively repaired and renovated during the period from October 29, 1960, to March 4, 1961, during which time it was not used for exhibiting films. Large amount of expenditure was incurred by the assessee on renovation and extensive repairs. Machinery worth Rs. 16,002 was purchased and new furniture of Rs. 27,889 was fitted. Sanitary fittings of the value of Rs. 5,225 were also newly put in. This expenditure was capitalised with regard to which there is no dispute. The assessee, however, claimed expendit...
Famous Cine Laboratories and Studios Ltd. Vs. Commissioner of Income-t ...
Court: Mumbai
Decided on: Feb-07-1979
Reported in: (1979)13CTR(Bom)113; [1980]121ITR648(Bom); [1979]2TAXMAN6(Bom)
Desai J.1. The assessee in this reference is M/s. Famous Cina Laboratories & Studios Ltd. and will be hereinafter referred to as 'the company'. We are concerned in this reference with three assessment years, viz., 1948-49, 1949-50 and 1950-51. The question referred to us by the Income-tax Appellate Tribunal reads as follows : 'Whether, on the facts and in the circumstances of the case, the Income-tax Officer was competent to adopt different figures for the assessment years 1948-49, 1949-50 and 1950-51 as cost of the various assets from those claimed by the assessee for the purposes of depreciation ?' 2. A few facts may be noted : The company was incorporated on 8th June, 1946, and closed its accounts on 30th September, 1947, which was thus the accounting period for the first assessment made on the company for the assessment year 1948-49. The balance-sheet of the company as on 30th September, 1947, showed the relevant assets at the figures shown below : Land : Rs.Payments on account of ...
Sind National Sugar Mills P. Ltd. Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Feb-07-1979
Reported in: (1979)13CTR(Bom)68; [1980]121ITR742(Bom); [1979]1TAXMAN288(Bom)
Desai J.1. This is a reference at the instance of the assessee under s. 66(1) of the Indian I.T. Act, 1922. 2. We are concerned in this reference with assessment year 1961-62. The assessee-company deals in sugar, hessian, gunny, gold, tea, jaggery, etc. It has is head office at Bombay with branches at several places such as Calcutta, Kanpur, Ahmedabad and Muzaffarnagar. It deals in both ready and forward business. The assessee's accounting year relevant to the assessment year 1961-62 is the one ending on July 31, 1960. During this year the assessee-company claimed loss of Rs. 1,08,222 in forward transactions in jute and hessian. The case of the assessee-company initially before the ITO was that they were in the nature of hedging transactions and so this loss could be set off against other business income of the assessee-company. This plea was negatived by the ITO. He held that this loss had been suffered by the assessee in certain forward transactions where differences only had been pa...
Mechanical Packing Industries Pvt. Limited Vs. C.L. Nangia and ors.
Court: Mumbai
Decided on: Feb-07-1979
Reported in: 1983LC627D(Bombay); 1981(8)ELT144(Bom)
1. Can an article which is capable of being bent be called rigid This really is the only, rather simple question that comes to be decided in this petition. 2. The petitioners are manufacturers of what are called 'PTFE' sheets. These are plastic sheets and are for the purposes of excise covered by Tariff item 15A(2) of the Schedule to the Central Excises and Salt Act, 1944. The relevant portion of the entry reads thus :- ------------------------------------------------------------------------'Item No. Description of goods Rate of duty------------------------------------------------------------------------ 15-A. (2) Articles made of plastics all sorts, Fifty per cent including tubes, rods, sheets, foils, ad valorem. sticks, other rectangular or profile shapes, whether laminated or not, and whether rigid or flexible, including lay flat tubings, and polyvinyl chloride sheets, not otherwise specified.'On 29th May 1971 the Union of India issued an Exemption Notification in regard to items fa...
Mukundkumari Vs. K.V.S. Namoondari, 17th Ito, D-i Ward, Bombay, and an ...
Court: Mumbai
Decided on: Feb-06-1979
Reported in: (1979)13CTR(Bom)131; [1979]118ITR433(Bom); [1979]2TAXMAN73(Bom)
Chandurkar J.1. This is a petition under art. 226 of the Constitution of India in which the petitioner, who is an assessee under the W. T. Act, is seeking a writ of mandamus directing the respondent No. 1, who is the WTO, to give effect to the directions contained in the order of the Income-tax Appellate Tribunal dated 3rd April, 1971, without taking into account the provisions of s. 32 of the Finance (No. 2) Act, 1971 (hereinafter referred to as 'Act No. 32 of 1971'). The petitioner is assessed to wealth-tax for the assessment years 1965-66, 1966-67 and 1967-68. In respect of these assessment years, the assessee claimed that jewellery should be exempted from wealth-tax under s. 5(1)(viii) of the W. T. Act. The assessment order for the year 1965-66 does not show what was the exact value of the jewellery, but in the assessment years 1966-67 and 1967-68, exemption was sought in respect of jewellery of the value of Rs. 10,15,263. It is stated at the Bar that even in the assessment year 19...
The State of Maharashtra Vs. Ibrahim Ismailji Nagree
Court: Mumbai
Decided on: Feb-06-1979
Reported in: (1980)82BOMLR19; 1979MhLJ486
Deshmukh, C.J.1. The appellants, the State of Maharashtra, requisitioned the disputed premises by an order dated December 30, 1949 under the provisions of the Bombay Land Requisition Act, 1948 (hereinafter referred to as 'the Act'). In the order of requisition no specific purpose was mentioned, though the order purported to be one under Clause (a) of Sub-section (4) of Section 6, for public purpose. This order was addressed to the two landlords, respondents Nos. 1 and 2 and to respondent No. 3, who was the proposed allottee. A copy thereof was endorsed to R-3, B.G. Dholakia, an Executive Engineer, Electric Grid Office in the State of Maharashtra; By another order bearing the same date, the premises was allottee to Dholakia. After having occupied the premises for about ten years, Dholakia vacated them, Soon after Dholakia left, the premises was 'allotted by another order dated May 7, 1959 to the present respondent No. 3.2. Respondents Nos. 1 and 2 objected to the allotment of the premis...
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