Mumbai Court May 1983 Judgments
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Hindustan Hosiery Industries Vs. First Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: May-11-1983
Reported in: (1983)5ITD349(Mum.)
1. This appeal has been filed by the assessee against (he order dated 21-9-1981 of the Commissioner (Appeals), relating to the assessment year 1979-80, the previous year of which ended on 31-12-1978.2. The assessee is a partnership firm deriving income from business in the manufacture and sale of hosiery goods. The only dispute in this appeal states that the Commissioner (Appeals) erred in law in not allowing deduction of a sum of Rs. 36,786 spent on account of the management and training expenses of one of the partners, even though a similar expense was allowed by the Tribunal in the immediately preceding assessment year.3. The assessee had five partners, consisting of a mother and her four sons. In the preceding assessment year, the youngest son, namely, Vijay Kumar, went to the United States for training in Business Management.By the time he left for the said studies, he was already a partner in the assessee-firm for two years. A sum of Rs. 60,678 was spent which was disallowed by ...
Wealth-tax Officer Vs. C.J. Sheth
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: May-09-1983
Reported in: (1983)4ITD706(Mum.)
1. The point at issue centres around the scope of Explanation II(ii)(e) to Rule 1D of the Wealth-tax Rules, 1957 ('the Act'), which has been framed for computing the market value of unquoted equity shares of companies, other than investment companies, and managing agency companies. The appeal before us, which is by the revenue and in which the issue referred to emanates out of the assessment made in the case of Shri C.J. Sheth, individual, for the assessment year 1977-78. In this appeal, the computation of the market value of the shares of two companies are involved, i.e., (a) C.A. Galikotwala & Co. (P.) Ltd.; and (b) Advance Paints (P.) Ltd. To zero down on the controversy, we would set out, and discuss, the relevant statutory provisions, with reference to the figures relating to the balance sheet and profit and loss account of Advance Paints (P.) Ltd., which would be fully illustrative.2. Where equity shares of a company are not quoted on a stock exchange, one of the methods for...
Eighth Income-tax Officer Vs. Indo Chem Pharma Inc.
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: May-09-1983
Reported in: (1983)5ITD548(Mum.)
1. This is an appeal by the revenue. The assessee is a partnership firm and this appeal relates to its assessment, for the assessment year 1978-79, for which the previous year was Samvat year 2034. The assessee filed its return of income for this year on 31-7-1978, declaring an income of Rs. 12,000. The ITO issued a notice under Section 143(2) of the Income-tax Act, 1961 ('the Act'), on 19-2-1982 requiring the assessee to attend on 3-3-1981 to substantiate with evidence the income returned by it. How-ever, there was no response and none attended. The ITO, therefore, felt that there was no other way but to complete the assessment to the best of judgment under Section 144 of the Act. He held that the assessee had filed a statement of profit and loss account, which was not corroborated by any evidence. In the absence of any details and data, he estimated the net income of the assessee at Rs. 25,000 and treated the firm as an unregistered firm. This order was passed by the ITO on 3-3-1981...
Hindustan Lever Ltd. Vs. Collector of Central Excise
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: May-07-1983
Reported in: (1983)LC1435DTri(Mum.)bai
1. This is an appeal under Section 35 of the Central Excises and Salt Act, 1944 filed by M/s Hindustan Lever Ltd. against the orders of the Assistant Collector of Central Excise Division 'F' Bombay dated 20-4-1978 and the Appellate Collector of Central Excise Bombay dated 20-11-1979 under which the appellants' claim for credit of auxiliary excise duty under Rule 56-A paid on optical bleaching agent (Photine 'C') classifiable under item 15-DD has been denied for the payment of duty on manufacture of O.S.A.A. falling under item 15-AA. The grounds for denial are that O.S.A.A. does not carry auxiliary duty of excise and therefore the Assistant Collector and the Appellate Collector have held that the auxiliary duty paid on optical bleaching agent cannot be permitted to be utilised under Rule 56-A for the payment of any duty on O.S.A.A. The appellants have argued that the contentions of the Assistant Collector and the Appellate Collector are not correct. The learned representative Shri C.S....
Pir Nacshahmiya Sufishah Bukhari Vs. the Additional Collector of
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: May-06-1983
Reported in: (1983)LC841DTri(Mum.)bai
1. This is an appeal filed under Section 129-A(1) of the Customs Act, 1962 by Pir N.S. Bukhari against the order No. 38/Addl. Collr./1982 dated 15.10.82 of the Addl. Collector of Customs, Ahmedabad, confiscating the fabrics and one pocket radio of foreign origin totally valued at Rs. 3490/- under Section 111(d) of the Customs Act. The appellants' Advocate, Shri H.M. Abdullah has explained the facts of the case leading to the search and seizure of the residential premises of the appellant on 8.8.81 by the Customs Inspector and seizure of the articles under confiscation and Indian currency notes of Rs. 59,500/-and Pakistani currency notes of Rs. 10/ -from the appellants' residence. The Advocate had drawn my attention to the panchanama of the seizure to point out that there was no reasonable belief in seizure of the currency notes and the goods under appeal. So far as the fabrics are concerned, he had explained that these were received as gifts by him and the members of his family from v...
Shambhu V. Sista Vs. Fifth Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: May-04-1983
Reported in: (1983)5ITD445(Mum.)
1. This appeal has been filed by the assessee against the order dated 14-9-1981 of the AAC relating to the assessment year 1977-78.2. The assessee is an individual deriving income from salary and other sources. The only dispute in this appeal relates to the taxation of a sum of Rs. 25,000 as perquisite under Section 17(2)(iii) of the Income-tax Act, 1961 ('the Act'). The assessee is the managing director of a private limited company engaged in advertising and publicity business. He was already a member of the Bombay Gymkhana Club since 1960. During the year under consideration, the assessee became the life member of Wellington Sports Club, by paying a sum of Rs. 25,000. The case of the assessee was that it would take a very long time to become an ordinary member and so he had to become the life member by paying a sum of Rs. 25,000. Further, it was in the interest of the business carried on by the company that he had to become a member and so, the membership fee of Rs. 25,000 was paid ...
Shri Talab Noormamad Juneja Vs. Additional Collector of Customs
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: May-03-1983
Reported in: (1983)LC1263DTri(Mum.)bai
1. This is an application for stay of the Order No. VIII/10-19/Addl.Collr./81, dated 28-1-83 of the Additional Collector of Customs, Ahmedabad under which the appellant's motor vehicle No. GTX-6745 has been confiscated under Section 115 of the Customs Act. The learned Advocate has stated that the local Custom officers have been pressing the appellant to surrender the motor car in question to them as the same has been confiscated under the aforesaid order of the Addl.Collector. On being asked about the circumstances under which the motor car was released, the learned Advocate has stated that after seizure the appellant had furnished a bond with cash deposit of Rs. 5000/- for obtaining the provisional release of his car and accordingly the car was released to the appellant after seizure. But now that the car has been confiscated, the local customs officers have asked for the surrender of the vehicle to them. On being asked to state as to what happened to the bond and the security deposi...
Orkay Silk Mills (P.) Ltd. Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: May-03-1983
Reported in: (1983)5ITD661(Mum.)
1. The assessee has filed the present appeal against the order of the Commissioner (Appeals) upholding the ITO's order under Section 104 of the Income-tax Act, 1961 ('the Act') and thus confirming the levy of additional tax amounting to Rs. 1,07,755.2. Formerly there were two limited companies by the name of Orkay Silk Mills (P.) Ltd. and Orkay Knitting Industries (P.) Ltd. They amalgamated. The amalgamation was approved by the Bombay High Court by their order, dated 16-10-1975, in the Company Petition 308 of 1975. The amalgamation was effective with effect from 1-7-1975 subject to the terms of the order of the High Court according to the scheme of amalgamation attached to the order. In spite of the amalgamation with effect from 1-7-1975 whereunder the Orkay Knitting Industries (P.) Ltd. went out of existence on its merger with the present assessee, the Orkay Knitting Industries (P.) Ltd., filed its return of income for the assessment year 1976-77. The income-tax assessment with refer...
Unit Trust of India and Others Vs. Om Prakash Berlia and Others
Court: Mumbai
Decided on: May-03-1983
Reported in: [1983]54CompCas723(Bom)
Gadgil, J.1. These four appeals arise out of a decree in Suit No. 1108 of 1981 of the file of the original side of this court wherein the learned single judge has passed a decree directing that the register of members of defendant No. 8-company, that is, the National Rayon Corporation Limited, be rectified by deleting therefrom the names of defendants Nos. 1 to 7 as holders of shares as mentioned below :------------------------------------------------------------------------Names of the institution Equity shares held Distinctive numberson 5-6-1979------------------------------------------------------------------------Unit Trust of India(Defendant 31,250 500365 to 531614No.1)General Insurance Corporationof India (Defendant No. 2) 1,250 537865 to 539114Oriental Fire and GeneralInsurance Co. Ltd. (Defen 1,250 541615 to 542864dant No. 3)Co. Ltd.(Defendant No.3)United India Insurance Co. Ltd. 1,250 542865 to 544114(Defendant No.4)National Insurance Co. Ltd. 1,250 539115 to 540364(Defendant ...
State of Maharashtra Vs. Vyasendra
Court: Mumbai
Decided on: May-03-1983
Reported in: 1983(2)BomCR331; (1983)85BOMLR262
Chandrachud, C.J.1. A question frequently arises under the Agricultural Ceiling Acts passed by the State Legislatures as to whether the land owned and held by a wife as her separate property can be clubbed together with the lands held by her husband and the other members of the family for the purpose of computing the ceiling on the holding of the 'family unit'. That question arises in this appeal under the Maharashtra Agricultural Lands (Ceiling on Holdings) Act, 27 of 1961, ('The Act').2. The respondent Vyasendra filed a return under Section 12 of the Act showing the lands held by him and mentioning that certain lands which stood in the name of his wife were her separate property. The surplus Lands Determination Tribunal held under Section 21 of the Act that the total holding of the respondent, including the land which was alleged to be the separate property of his wife, was 67 acres and 34 gunthas. Since the ceiling under the Act is 54 acres, the respondent was asked to surrender an ...
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