Mumbai Court March 1982 Judgments
Cement Agencies Ltd. Vs. Commissioner of Income-tax, Bombay City-ii
Court: Mumbai
Decided on: Mar-28-1982
Reported in: [1984]146ITR137(Bom)
Kania, J.1. This is a reference on a case stated under s. 256(1) of the I.T. Act, 1961 (referred to hereinafter as 'the said Act'). There are two question referred to us in this reference, which run as follows :'(1) Whether, on the facts and in the circumstances of the case, for the purposes of abatement in tax to be allowed in India with reference to the 'excess' in terms of article IV-A of the Agreement for the Avoidance of Double Taxation between India and Pakistan, the Pakistan, income is to be taken as determined, and included, in the indian assessment under the Indian laws, or as assessed in Pakistan a as per the Pakistan laws for the assessment years 1956-57 to 1966-67 (both inclusive) ?(2) Whether, on the facts and in the circumstances of the case, the sum of Rs. 24,390 is deductible under section 32(1)(iii) of the Income-tax Act, 1961, in the computation of the total income for the assessment year 1965-66 ?'2. The learned counsel for the respective parties agree that in view o...
Tag this Judgment!Commissioner of Income Tax Vs. Khimji Bhanjee and Co.
Court: Mumbai
Decided on: Mar-28-1982
Reported in: (1983)32CTR(Bom)296
Kania, J.1. This is a reference on a case stated u/s 256(1) of the IT Act, 1961. The assessment year with which we are concerned is the asst. yr. 1968-69. The assessee is a registered firm carrying on business of grains, kirana, oil and so on. During the course of the assessment proceedings in respect of the aforesaid assessment year, the ITO, while scrutinising the books of accounts, noticed certain cash credits in various accounts. The assessee was asked to prove the genuineness of the cash credit entries. The assessee stated that is was not in a position to produce the persons concerned to prove the genuineness of the credits. The ITO worked out the amount of such peak credits and assessed Rs. 10,590 as the assessee's income from undisclosed sources. The assessee did not prefer any appeal against this assessment. This assessment was followed by penalty proceedings u/s 271(1)(c) of the IT Act, 1961. Notice was issued for levying by the IAC. Before the IAC, the assessee submitted that...
Tag this Judgment!Commissioner of Income-tax Vs. Bajaj Electricals Ltd.
Court: Mumbai
Decided on: Mar-28-1982
Reported in: (1983)36CTR(Bom)200; [1984]148ITR83(Bom); [1983]13TAXMAN50(Bom)
Chandurkar, J.1. The question referred to us in this reference under s. 256(1) of the I.T. Act, 1961 ('the Act'), at the instance of the Revenue is as follows :'Whether, on the facts and in the circumstances of the case, the payment of the sum of Rs. 1,20,250 by the assessee to Westinghouse Electric International Co., is an expenditure of a revenue nature, and is allowable as a deduction in computing the total income of the assessee ?'2. The assessee-company entered into a licence and technical assistance agreement with the Westinghouse Electric International Co. The agreement refer to the fact that the licensee, i.e., the assessee-company, 'desires to obtain patent rights and rights under technical, manufacturing and other information and services necessary to enable it to manufacture, us and sell certain types of electrical and other apparatus and material manufactured by the Associated Companies in the United State of America.' The agreement is for a period of 10 years. The licence ...
Tag this Judgment!Commissioner of Income-tax, Poona Vs. Manohar Bandhu
Court: Mumbai
Decided on: Mar-28-1982
Reported in: (1983)37CTR(Bom)184; [1984]148ITR108(Bom); [1983]13TAXMAN99(Bom)
Chandurkar, J.1. The assessee was buying goods from a commission agent in Bombay, called M/s. Bapuji Narayan & Co. It appears that the assessee was in financial difficulty with the result that after S.Y. 2010 at the end of which, the closing credit balance to the account of Bapuji Narayan & Co. was Rs. 51,130, and there were no further purchases by the assessee from that company. Some payments were made towards discharging the outstanding liability by the assessee in the assessment years 1957-58, 1965-66 and 1966-67, the total amount coming to Rs. 16,000 as against Rs. 51,130 outstanding at the end of S.Y. 2010.2. By release deed dated October 4, 1965, Bapuji Narayan & Co., accepted Rs. 16,000 'in full and final settlement of the balance debt of Rs. 53,265 in view of the bad financial position of the second party' - Rs. 53,265 was the balance shown as outstanding in the account of the assessee with Bapuji Narayan & Co. With reference to the assessment year, the release deed was made in...
Tag this Judgment!Controller of Estate Duty, Bombay City-iii Vs. D.B. Sanghavi
Court: Mumbai
Decided on: Mar-27-1982
Reported in: (1983)32CTR(Bom)298; [1982]138ITR500(Bom); 1982MhLJ851; [1983]12TAXMAN207(Bom)
Kania, J.1. This is a reference on a case stated under s. 64(1) of the E.D. Act, 1953 (referred to hereinafter as 'this said Act'). The person whose estate is in question is one Babubhai M. Sanghavi who died on January 24, 1960. The accountable person in respect of the said estate is the present respondent, being the son of the said deceased. On August 17, 1959, i.e., within a very prior to his death, the said deceased sold 498 ordinary shares of Bhavanagar Vegetable Products Ltd., of the face value of Rs. 100 each at Rs. 125 per share to the sons and daughters of one Nagardas Ranchhoddas Sanghavi, a partner of the said deceased in the firm of M/s. R. Ratilal & Company, but who was not related to the said deceased. On the same date, the said Nagardas sold an identical number of ordinary shares of the said company at the price of Rs. 125 per share to the wife, daughters and daughter-in-law of the said deceased. In the income-tax proceedings, the ITO invoked the provisions contained in t...
Tag this Judgment!Mrs. Mohini K. Advani Vs. Controller of Estate Duty
Court: Mumbai
Decided on: Mar-27-1982
Reported in: (1983)32CTR(Bom)101; [1983]144ITR931(Bom)
Chandurkar, J.1. One, Mr. K. U. Advani,. died on 24th January, 1966. During his lifetime he had made gifts of the value of Rs. 3,09,320. In the return filed by the accountable person, the gross value of the properties of the deceased including the value to the gifts made inter vivos was shown to be Rs. 34,06,150. Liabilities were shown to the tune of Rs. 64,04,110. Thus, in the returns, the net value of the properties was shown at a minus figure of Rs. 29,97,960.2 The Assistant Controller found that there was a deficit in the principle value of the free estate because the liabilities were Rs. 64,04,110 as against the free estate of Rs. 33,33,080. He, however, found that the value of the total gifts under s. 9 and the gifts to the accountable persons including insurance amounts paid for the policies taken, under the Married Women's Property Act, within one year from the date of death came to Rs. 7,37,874. he computed the estate duty on this amount of Rs. 7,37,874. This assessment has be...
Tag this Judgment!Jai Hind Rubber Industry Vs. First Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Mar-26-1982
Reported in: (1982)2ITD303(Mum.)
1. This appeal has been filed by the assessee against the order dated 5-12-1979 of the Commissioner (Appeals) relating to the assessment year 1975-76, the previous year of which ended on 13-11-1974. The assessee is a partnership firm, deriving income from business in the manufacture and sale of rubber balloons. It was the occupant-cum-tenant of one factory premises situated at Sonawala Cross Road, Goregaon, Bombay, since the year 1945 or thereabout. On 16-2-1973, the assessee purchased the said property from the owner-landlord at a price of Rs. 21,806. The case of the assessee was that it had already acquired tenancy rights in the premises and so it was able to get the property from the landlord at a price which was considerably less than the ruling market price. On 14-3-1974, the assessee sold the said property for Rs. 80,000. The question arose as to what capital gains, if any, was earned by the assessee on the sale of the premises on 14-3-1974 for Rs. 80,000. The case of the assess...
Tag this Judgment!A.S.K. Gothenburg Vs. Inspecting Assistant
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Mar-25-1982
Reported in: (1982)1ITD828(Mum.)
1. This appeal by the assessee relates to the assessment year 1977-78, for which the relevant previous year ended 31-12-1976.2. The assessee is a non-resident. During the relevant previous year, the assessee received from Associated Bearing Co. Ltd., Bombay, an amount of Rs. 9,98,618 by way of fees for technical services rendered by the assessee. In appeals relating to the earlier assessment years, the Tribunal had held that the research and development compensation received by the assessee to the extent of 50 per cent thereof related to the exploitation of the trade mark 'SKF' in India and would, therefore, be assessable in India. On this basis, 50 per cent of the fees mentioned above, being Rs. 4,99,309, was treated as the income of the assessee under the said item. In the earlier years, the Tribunal had also held that the expenses of the assessee relating to this item of income should be treated as 50 per cent and this was being allowed.But a new development took place in the form ...
Tag this Judgment!Bandra Green Park Co-operative Housing Society Ltd. and anr. Vs. Dayad ...
Court: Mumbai
Decided on: Mar-25-1982
Reported in: AIR1982Bom428; 1982(1)BomCR879; (1982)84BOMLR177
Deshpande, C.J.1. Respondent No. 1 (hereinafter referred to as 'the licensee') filed a Miscellaneous Petition in this Court under Art. 226 of the Constitution of India challenging the validity of 'reference' of the dispute made by respondent No. 2 Deputy District Registrar, u/s. 91 of the Maharashtra Co-operative Societies Act, 1960 (hereinafter referred to as the Act') to respondent No. 3, the Co-operative Court, raised jointly by appellant No. 1 a Co-operative Housing Society and appellant No. 2 its member.2. The disputant raised this dispute on 15th Sept., 1975 for possession of Flat No. 6. Held by the member in the building owned by the Society and compensation for its use against the licenses. The flat was purchased by the member from the builders in of about the year 1964 before the Society of the building was evacuated in its favour. The member was required to leave Bombay due to the evidences of her husband's employment and the flat came to be occupied by the licensee on leave ...
Tag this Judgment!Mohamed Hanif Habib HusaIn Vs. Abdul Hamid Hajmulla Qureshi and anr.
Court: Mumbai
Decided on: Mar-25-1982
Reported in: 1983(1)BomCR190
S.J. Deshpande, J.1. This application is filed by the original respondent challenging the order of attachment dated September 22, 1981, passed by the Magistrate, 6th Court, Mazgaon in Case No. 279/N of 1981, which was commenced by proceedings under section 145 of the Code of Criminal Procedure. The said proceedings are pending in the Metropolitan Magistrate 6th Court, Mazgaon.2. The first respondent Abdul Qureshi who was the original applicant before the Magistrate, has filed an application on March 5, 1981 under section 145 of the Code of Criminal Procedure. On the next day, i.e. on March 6, 1981 the respondent Qureshi also made an application asking the Magistrate for taking action under section 146(1) of the Code of Criminal Procedure. The learned Magistrate passed preliminary order on March 17, 1981 under section 145(1) of the Code and also issued a show cause notice to the petitioner mentioning that the stall in question i.e. Stall No. 89 in question should not be sealed under sec...
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