Mumbai Court October 1992 Judgments
Panalal Silk Mills (P.) Ltd. Vs. Deputy Commissioner of Gift-tax
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Oct-30-1992
Reported in: (1993)44ITD458(Mum.)
1. This appeal by the assessee is directed against the order of the CGT(A)-I, Bombay and pertains to the assessment year 1983-84.2. The assessee is a private limited company. Up to 18-12-1981 this company was said to have been managed by groups of shareholders, viz., Kantilal Group and Panalal Group, each holding 747 shares of the face value of Rs. 1,000. Some dispute alleged to have cropped up between these two groups. The matter was referred to an arbitrator, who gave an award on 18-12-1981. This award was approved by the Bombay High Court on 16-1-1982. Accordingly, Kantilal Group transferred all their 747 shares in the assessee-company for a price of Rs. 100 per share to the Panalal Group. In the annual accounts, the value of the properties alienated to Kantilal Group was shown at Rs. 35 lacs. The Assessing Officer held that the series of transactions indicated a transfer by the assessee-company to Kantilal group of properties worth Rs. 35 lacs without any consideration.3. It was c...
Tag this Judgment!Deputy Commissioner of Income Tax Vs. Associated Film Industries (P.) ...
Court: Mumbai
Decided on: Oct-27-1992
Reported in: (1996)54TTJ(Mumbai)299
ORDERR. P. GARG, A. M. :This is an appeal by the Revenue against the order of the CIT(A), cancelling the penalty levied by the Assessing Officer under s. 273(a) of the IT Act, 1961, for the asst. yr. 1983-84.2. Advance estimate was filed in this case on 22nd Sept., 1982 and 11th March, 1983 and payments were made in accordance therewith. The assessment was completed on a higher income. The difference was attributed by the assessee to the demand made by the Union on 6th March, 1982 led by Dr. Datta Samant, President, Maharashtra General Kamgar Union, demanding a substantial wage hike w.e.f. 1st April, 1982. Labouring under this threat, the assessee apprehended that it would be saddled with heavy burden of liability, reducing its profit and this led it to file a lower estimate of advance tax. The matter was finally referred to arbitration and resulted in an amicable settlement on 14th Nov., 1983, whereby the union agreed not to press retrospective effect to their demand and the additiona...
Tag this Judgment!Commissioner of Income-tax Vs. Central Bank Executor and Trustee Co. L ...
Court: Mumbai
Decided on: Oct-23-1992
Reported in: [1993]203ITR666(Bom)
Mrs. Sujata Manohar, J.1. The assessee is the Central Bank Executor and Trustee Co. Ltd., acting as such for late Mrs. Serenebai J. Mody. The deceased Serenebai J. Mody, prior to her death, was the owner of a property known as Cecil Court. Upon her death, estate duty proceedings were initiated and completed against the executor of the assessee as the executor of the estate of the deceased, leading to the demand for the payment of estate duty. For paying the estate duty, the assessee raised an overdraft with the bank on the security of the house property by creating a charge on it for the repayment of the loan as well as interest. On the loan so borrowed, interest became payable for the assessment years 1969-70, 1970-71 and 1971-72 amounting to Rs. 39,741, Rs. 33,473 and Rs. 34,000, respectively. 2. The assessee, in its assessment for these three years, claimed deduction of these amounts from the income for the house property under section 24(1)(iv) of the Income-tax Act, 1961. The Trib...
Tag this Judgment!Controller of Estate Duty Vs. P.G. Chaware
Court: Mumbai
Decided on: Oct-23-1992
Reported in: [1993]204ITR513(Bom)
Dr. B.P. Saraf, J.1. By this reference under section 64(1) of the Estate Duty Act, 1953, the Income-tax Appellate Tribunal, Nagpur Bench, Nagpur, has referred the following question for our opinion : 'Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in upholding the order of the Appellate Controller holding that only that half share of the property of the deceased passed on the death of the deceased ?' 2. The facts giving rise to this reference are as follows : The deceased was the sole surviving coparcener of a joint Hindu family comprising himself and his wife. On his death, his widow who was the accountable person claimed that, under section 39 of the Estate Duty Act, 1953, the interest of the deceased in the Hindu undivided family property would be one-half only. The Assistant Controller of Estate Duty did not accept this contention and treated the full value of the property as having passed on the death of the deceased and taxed the va...
Tag this Judgment!Association of Engineering Workers Vs. Permanent Magnets Ltd. and ors.
Court: Mumbai
Decided on: Oct-23-1992
Reported in: (1994)IILLJ573Bom
ORDERAshok Agarwal, J.1. The order dated 6th December, 1991 passed by the Assistant Commissioner of Labour refusing to admit in conciliation a dispute raised by the petitioner is impugned in the present petition. 2. The Assistant Labour Commissioner has found that the worker Shri Mohan R. Kadam, who is represented by the petitioner-union has resigned by writing in his own handwriting in Marathi. The resignation is accepted by the first respondent- company on the very day of the resignation i.e. on 30th April, 1990. The workman is relieved from duty by the Management on the same day. The complaint lodged by the workman with the Borivli Police Station is not specific. The workman has not mentioned what type of pressure was bought on him for resignation. He has not mentioned who forced him to resign. 3. The material produced on record further shows that the legal dues payable to the workman are sent to him by a cheque dated 1st June, 1990 which is over a month after the date of resignatio...
Tag this Judgment!Omprakash Shankarlal Sharma Vs. the State of Maharashtra
Court: Mumbai
Decided on: Oct-22-1992
Reported in: 1993(1)BomCR599; 1993CriLJ3175
1. Issues of some consequence concerning the conduct of a serious trial have been raised in this proceeding and, having regard to the vehemence with which they were contested and the seriousness of the errors that have been complained about, it is essential for this Court to decide those issues which I am summarizing as follows :- (a) Whether it is open to the Presiding Judge in the course of a criminal trial who comes across an apparent infirmity in the prosecution case to suggest to the Prosecutor to lead evidence in order to get over that lacuna and to thereafter permit the prosecution to reopen its case and introduce material in evidence. (b) Whether a sanctioning authority, who is apparently not invested with the jurisdiction to accord sanction, can be permitted to get over this handicap and to bolster up the prosecution case at a stage when the judgment in the proceeding is part-delivered. (c) Whether in a corruption prosecution, evidence of persons shown not to comes within th...
Tag this Judgment!Ku. Bhagyashree D/O Bhausaheb Survey Vs. Vice Chancellor, Amravati Uni ...
Court: Mumbai
Decided on: Oct-22-1992
Reported in: 1994(2)BomCR32
H.W. Dhabe, J.1. The petitioner who appeared for the Final M.B.B.S. Examination held by the Amravati University has originally challenged the result of the said examination declared by the University. However, at the fag end of the arguments, when some defect was noticed and when in particular, it was brought to our notice that the petitioner had made application for revaluation of marks in three subjects because of which she should be estopped from challenging the result of the Final M.B.B.S. Examination declared by Amravati University, an amendment application is filed to challenge the result of revaluation itself. Although we were not inclined to allow the amendment, since the learned Counsel for the University has agreed that we should consider the same in this writ petition itself and since he has produced the relevant material in that regard, we allow the C.A. No. 2924 of 1992 for amendment and consider the said question so as to finally conclude the grievance of the petitioner i...
Tag this Judgment!Ras Marketing and Exports Pvt. Ltd. and anr. Vs. Union of India (Uoi) ...
Court: Mumbai
Decided on: Oct-22-1992
Reported in: 1993(1)BomCR696
Sujata Manohar, J.1. In 1971, The Government of India notified a scheme called the 10% Central Outright Grant or Subsidy Scheme, 1971 for Industrial Units to be set up in certain selected backward areas with a view to promoting the growth of Industries there. The scheme was originally for the duration of the Fourth-Five Year plan and for such further period as may be decided by the Government of India.2. Under the scheme a Central Government subsidy at the rate of 10% was admissible on the fixed capital investment, viz., Land, building, plant and machinery made by the industrial unit so set up, subject to a maximum of Rs. 5 lacks. The scheme was modified from time to time and the amount of subsidy/grant was increased. The scheme was further modified from April 1983, and a new Category of areas was introduced known as Category 'A' areas which are entitled to the highest rate of subsidy. Union Territories of Dadra and Nagar Haveli, and Daman and Diu formed a part of Category 'A' and were...
Tag this Judgment!Kotesh Rajavir Bhandari Vs. the State of Maharashtra
Court: Mumbai
Decided on: Oct-22-1992
Reported in: I(1993)DMC157
M. F. Saldanha, J1. This appeal preferred through jail came up for admission before me on 28-9-1992. After going through (be record, it occurred to me that the appellant-accused, who is in custody and who is a very poor person, should be granted expeditious hearing because the only question for consideration was the matter of sentence. The record and proceeding was, therefore, sent for and this Court was required to request Shri A.S. Rao, learned Advocate, to appear as amicus curiae and assist the Court, particularly in view of the fact that the record is considerably heavy and required to be examined at short notice. 2. The prosecution alleged that the Accused was responsible for the suicide of his wife Dhanalaxmi on 23-6-1991. In the afternoon of that day, the body of Dhanalaxmi was found floating in the village tank and the matter was reported to the police. There were no visible or serious injuries on the body to suggest a homicidal death. In the absence of any evidence to the cont...
Tag this Judgment!Commissioner of Income-tax Vs. Boots Pure Drug Co. (i.) Ltd.
Court: Mumbai
Decided on: Oct-21-1992
Reported in: [1993]203ITR979(Bom)
Mrs. Sujata Manohar, J.1. The assessee is a limited company carrying on the business of manufacturing pharmaceutical products. The assessment years involved are 1967-68 to 1970-71. The point at issue for all the four years under reference is regarding the computation of capital employed in the new industrial undertaking for the purpose of section 84 for the assessment year 1967-68 and section 80J for the remaining assessment years. One of the contentions which was urged by the assessee before the Tribunal by way of an additional ground was to the effect that no part of borrowed moneys and deposits taken from distributors ought to have been deducted from the capital for the purposes of the above sections as these were not 'debts' which were 'due' for payment on the relevant dates. A major part of the borrowings of the assessee consisted of loans received from banks by way of overdrafts against hypothecation of stock-in-trade. The Tribunal has upheld the contention of the assessee that, ...
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