Mumbai Court December 1993 Judgments
Rupal Vs. Assistant Commissioner of
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Dec-30-1993
Reported in: (1994)49ITD484(Mum.)
1. This is an appeal filed by the assessee against an order under Section 263, of the Income-tax Act, 1961 passed by the Commissioner of Income-tax.2. The facts of the case are that the assessee is an exporter of dress material and also had local sales. He claimed deduction under Section 80HHC of the Act in respect of the export turnover. Sub-section (1) of that section allowed a deduction of an amount not exceeding 50 per cent of the profits derived by the assessee from export of specified goods or merchandise. The profits derived from the export of goods or merchandise out of India in a case where there were exports as well as local sales were to be computed in accordance with Clause (b) of Sub-section (3) of Section 80HHC of the Act. It was specified therein that such profits would be the amount which bears to the profits of the business the same proportion as the export turnover bears to the total turnover of the business carried on by the assessee. Thereafter, Explanation (b) def...
Tag this Judgment!international Data Management Vs. Inspecting Assistant
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Dec-27-1993
Reported in: (1994)49ITD560(Mum.)
1. This appeal by the assessee is directed against the order of the CIT, Bombay City-VI, Bombay, passed under Section 263 of the Income-tax Act, 1961 and pertains to the assessment year 1984-85.2. In the opinion of the CIT, following three errors did exist in the assessment: (i) Extra shift allowance of Rs. 5,53,123 on data processing machine was wrongly allowed. (ii) Investment allowance of Rs. 6,90,898 on the computers or data processing machine was wrongly allowed as the same fell under item No. 22 of the Eleventh Schedule. (iii) Deduction under Section 80-1 amounting to Rs. 59,083 was wrongly allowed as the assessee was involved in the manufacture of an article listed in the Eleventh Schedule viz., data processing machines and computers. In view of the above, jurisdiction under Section 263 was assumed and directions were rendered to the Assessing Officer to modify the assessment pro tanto.3. Shri F.V. Irani, learned counsel for the assessee, appeared before us. In regard to extra ...
Tag this Judgment!Prashant Steel Balls Pvt. Ltd.
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Dec-17-1993
Reported in: (1994)(52)LC196Tri(Mum.)bai
1. The appellant, M/s. Prashant Steel Balls, had filed C.L. bearing No.36/92 dated 28.8.1992 with the Assistant Collector in respect of Ball or Roller bearings, cycle/steel balls of M.S of sizes 6.35mm, 4.77mm, 3.97mm and 3.17mm to be fitted in various parts of the cycles for classification under sub-heading 8482.00 under protest. In terms of the trade Notice No. 56/92, dated 8.7.1992, of the Baroda Collectorate, they claimed benefit of the Notification No. 175/86 dated 1.3.1986 in the said C.L. Their protest was based on the ground that their products are used as cycle parts, and that they were correctly classifiable under the Heading 87.14 chargeable to Nil rate of duty under the Notification No. 62/86, dated 10.2.1986 as amended. They also referred to Order-in-Appeal No. M-43-44/BRD/19-20/85, dated 13.3.1986, passed by the Collector (Appeals), Bombay. The C.L. was approved by the Assistant Collector.2. The appellant in their appeal memorandum explained that the dispute regarding th...
Tag this Judgment!Shantilal Khushaldas and Bros. Pvt. Ltd. Vs. Smt. Jayabala Suresh Shah ...
Court: Mumbai
Decided on: Dec-17-1993
Reported in: [1997]90CompCas399(Bom); 1994(1)MhLj432
M.G. Chaudhari J.1. The company petition was lodged by the petitioners therein on September 4, 1992. They have prayed that the company, namely, Shantilal Khushaldas and Bros. Pvt. Ltd. be wound up under the provisions of the Companies Act and a liquidator be appointed. The company has taken out judge's summons praying that the petition be rejected in limine. In the affidavit in support 10 grounds have been set out for which it is submitted that the petition is liable to be rejected in limine. In ground No. 6 it is contended that the letter dated January 23, 1991, which purports to be a notice under section 434 of the Companies Act, 1956, does not comply with the provisions of the said section. It was, however, at the time of arguments that learned counsel for the company Mr. Kakodkar submitted that the notice relied upon by the petitioners, which is the foundation of the petition, could not be relied upon or taken advantage of for the present petition by the petitioners in view of an e...
Tag this Judgment!Commissioner of Income-tax Vs. Colgate Palmolive (India) Pvt. Ltd.
Court: Mumbai
Decided on: Dec-17-1993
Reported in: (1994)118CTR(Bom)212; [1994]210ITR770(Bom)
Mrs. Sujata Manohar, Actg. C.J.1. The assessee, Messrs. Colgate Palmolive (India) Pvt. Ltd., is a company registered under the Indian Companies Act. Shri Kodikal was its chairman and full-time director till he retired on September 20, 1974. The assessee-company paid him on October 2, 1974, a sum of Rs. 90,000 as his retirement gratuity. We are concerned in the present case with the assessment year 1975-76. The assessee-company claimed that the amount of Rs. 90,000 which was paid as retirement gratuity was not includible in the expenditure which was required to be considered for deduction in view of the ceiling placed on such expenditure under section 40A(5) of the Income-tax Act, 1961. 2. The assessee had originally claimed a deduction of only Rs. 30,000 and had offered for tax as salary of the director a sum of Rs. 60,000 out of the gratuity amount of Rs. 90,000. But the assessee subsequently claimed before the Income-tax Officer the entire amount of Rs. 90,000 as deductible expenditu...
Tag this Judgment!Commissioner of Income-tax Vs. Caixa Economica De Goa
Court: Mumbai
Decided on: Dec-17-1993
Reported in: [1994]210ITR719(Bom)
Mrs. Sujata Manohar, Actg. C.J.1. This reference pertains to the assessment year 1970-71. The assessee, Caixa Economica De Goa, was formerly a Portuguese bank. At the time of liberation of Goa, it lost all its assets. The President of India promulgated the Goa, Daman and Diu (Banks Reconstruction) Regulation, 1962, for the reconstruction, inter alia, of the assessee-bank in the interest of the general public in exercise of his powers under article 240 of the Constitution of India. Regulation 6 is as follows : '6. (1) For the purposes of enabling the Custodian to discharge the obligations imposed on him under this Regulation, the Central Government may, after due appropriation made by Parliament by law in this behalf, grant to the Custodian such loans on account of either of the banks as it may deem fit. (2) The terms and conditions on which such loans may be granted shall be determined by the Central Government from time to time, and it shall be competent for the Central Government, i...
Tag this Judgment!Sapt Textile Produces (India) Ltd. Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Dec-17-1993
Reported in: (1994)118CTR(Bom)255; [1996]217ITR378(Bom)
D.R. Dhanuka, J.1. By this reference made under section 256(1) of the Income-tax Act, 1961, the Income-tax Tribunal has referred the following questions to this court for its opinion : '(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal has rightly held that the provisions of section 40(c) and not section 40A(5) are applicable to the case of a director-employee of an assessee-company? (2) Whether, on the facts and in the circumstances of the case, the Tribunal has rightly held that where a director is also an employee of the assessee-company, the provisions of section 40A(5), clauses (i) and (ii), will also come into play for the purpose of determining the nature and quantum of his remuneration? (3) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal has rightly held that the gratuity paid to a director-employee in consideration of his past services forms a part of the remuneration for the purpos...
Tag this Judgment!Collector of Customs Vs. Bharat Pulverising Mills
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Dec-16-1993
Reported in: (1994)(74)ELT917Tri(Mum.)bai
1. This application has been moved by the Revenue with regard to the Order-in-Appeal passed by the Collector of Customs (Appeals) bearing No. 614/93 BCH, dated 19-10-1993 whereunder Collector (Appeals) allowed the .appeal of the respondent accepting the value declared for the purpose of assessment.2. Shri Mondal, the learned SDR, pleads by referring to invoices dated 22-5-1993 and 10-7-1993 in respect of the same goods shipped from Singapore, where the value was between US $ 7.50 per kg. to 8.16 per kg. whereas in this case the declared value is US $ 4/- per kg. The goods have come through Hongkong and there should not have been such an abnormal difference. The differential duty involved is Rs. 8,93,705/-, which has to be secured and he would therefore plead for granting a stay or alternatively pass suitable direction for securing the aforesaid revenue.3. Dr. Kantawala, the learned advocate, however points out that the manufacturer's invoice namely Invoice No. 343/93, dated 5-5-1993 i...
Tag this Judgment!Sunil and Co. Vs. Collector of Central Excise
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Dec-16-1993
Reported in: (1995)(80)ELT653Tri(Mum.)bai
1. Though this day only stay application was listed for hearing after hearing both the sides and perusing the order of the Collector, we find that the matter is required to be remanded and hence we have taken up the appeal itself for disposal on the short ground.2. The appeal is against the Order-in-Original No. 56/93, dated 24-5-1993. For the limited purpose of dealing with the short ground, we are to extract the relevant portion of the order : "I confirm the amount of duty to be quantified by the Investigating officer as per my directions given above against M/s. Sunil & Co. under Section 11A of the Central Excises & Salt Act, 1944.As per the provisions of Section 11A of the Central Excise Act, wherein duty has not been levied or paid or has been short-levied or short-paid, a notice has to be served on the person chargeable to such duty and thereafter the officer, after considering the representation, shall determine the amount of duty due from the person, whereupon the noti...
Tag this Judgment!Oudh Sugar Mills Ltd Vs. Commissioner of Income-tax
Court: Mumbai
Decided on: Dec-16-1993
Reported in: (1994)116CTR(Bom)554; [1994]210ITR692(Bom)
Mrs. Sujata Manohar, Actg. C.J.1. The assessment year in this case is 1975-76. The assessee-company filed in estimate of advance tax payable on June 14, 1974. The estimated income was Rs. 80,00,000 and the total tax payable was Rs. 46,20,000. The first instalment payable, therefore, came to Rs. 15,40,000 being one-third of the total estimate. This was paid by the assessee before June 15, 1974. The second instalment due in September, 1974, was also paid accordingly. For the last and final instalment, an estimate was filed by the assessee on December 13, 1974, estimating the income at Rs. 103 crores. The total tax payable came to Rs. 59,48,250. The last instalment, therefore, was of Rs. 28,68,250 which was paid by the assessee. 2. The Income-tax Officer levied interest under section 216 of the Income-tax Act, 1961, for short payment of the first two instalments. The interest so levied was Rs. 39,846. The Commissioner of Income-tax (Appeals) has upheld this levy. Before the Tribunal, the ...
Tag this Judgment!- ‹ Prev
- 2
- 3
- 4
- 5
- Next ›
- Last »