Mumbai Court April 1991 Judgments
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French Dyes and Chemicals (India) Pvt. Ltd. Vs. Commissioner of Income ...
Court: Mumbai
Decided on: Apr-02-1991
Reported in: [1991]189ITR609(Bom)
B.N. Srikrishna, J. 1. In this reference, made at the instance of the assessee, the Tribunal has referred the following question for the opinion of this court : 'Whether, on the facts and in the circumstances of the case, the penalties levied by the Income-tax Officer under section 273(a) in the fresh assessments made by him, consequent on the setting aside of the original assessments made by the Appellate Assistant Commissioner, were eligible in law, for 1964-65, 1966-67, 1967-68 and 1970-71 assessment years ?' 2. The reference pertains to the assessment years 1964-65, 1966-67, 1967-68 and 1970-71. The Income-tax Officer has levied penalty under section 273(a) of the Income-tax Act, 1961, for the above years at different amounts. He rejected the assessee's explanation that the advance tax notices under section 210 issued by the Income-tax Officer had been 'ignored' by the assessee as they were issued on the basis in appeal by the Appellate Assistant Commissioner. The assessee had cont...
Controller of Estate Duty Vs. Gokuldas M. Shah (Decd.) (Accountable Pe ...
Court: Mumbai
Decided on: Apr-02-1991
Reported in: (1992)106CTR(Bom)182; [1992]193ITR437(Bom)
T. D. SUGLA J. - The Tribunal has referred to this court the following question of law at the instance of the Department under section 64 (1) of the Estate Duty Act, 1953 :'Whether, on the facts and in the circumstances of the case, the Tribunal erred in holding that the value of the share of the deceased in the goodwill cannot be included in the principal value of the estate ?'It is evident from the question that the issue involved herein pertains to the value of the deceased's share in the goodwill of the two partnership firms in which he was a partner. No doubt, the accountable person had initially estimated the value of the deceased's share in the value of goodwill at Rs. 20,000 and disclosed it in the estate duty return. However, before the Assistant Controller of Estate Duty, the accountable person took the stand that the nature of the business of the two firms was such that the firms had no goodwill. Alternatively the contention was that, since the two partnership firms were con...
Kooverji De Vs. Hi and Co. (P.) Ltd.
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Apr-01-1991
Reported in: (1991)38ITD99(Mum.)
1. This appeal by the assessce is directed against the order of the learned CIT (A) dated 22-10-1986 in relation to the assessment year 1979-80.2. The arguments of the learned counsel for the assessee and the learned Departmental Representative were heard.3. The substantive issue involved in the grounds No. 1 to 5 of the appeal relates to the treatment of the assessee as a small scale industrial undertaking as per Sub-section (2) of Section 32A read with Explanation (a) to Sub-section (1A) of Section 35B of the Income-tax Act. The assessee claimed a deduction of Rs. 2,02,301 under Section 35B of the Income-tax Acton the ground that it was a small scale industrial undertaking within the meaning of the aforesaid provisions of the Income-tax Act. The assessee pleaded before the assessing officer that the aggregate value of the machinery and plant (other than tools, jigs, dies and moulds) installed as on the last day of the previous year in question for the purposes of the business of the...
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