Mumbai Court October 2004 Judgments

Additional Commissioner of Vs. Dresdner Bank Ag

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2006)105TTJ(Mum.)185

1. This is an appeal filed by the Revenue and is directed against the order dt. 31st Jan., 2001, passed by the CIT(A) for the asst. yr.1997-98 and in the matter of assessment under Section 143(3) of the IT Act, 1961. The only grievance raised by the Revenue is as follows : On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in holding that 'gross interest' earned on foreign currency deposits should be considered for deduction under Section (15)(iv)(fa) as against the 'net interest' considered by the AO as per the decision of the Supreme Court in Escorts Ltd. v. Union of India , (i.e., gross interest reduced by the expenses attributable to earning of interest on foreign currency deposits).2. The factual matrix giving rise to this dispute before us is as follows. The assessee is a foreign bank and it operates in India through its permanent establishment in Mumbai. During the course of assessment proceedings, the AO noticed that in the IT return the...

The D.C.i.T., Special Range 34 Vs. Investwel Publishers Pvt. Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2005)279ITR24(Mum.)

1. These two departmental appeals are disposed of by this common order as the issues involved are common.2. This appeal arises from the order dated 10.1.98 of CIT(A)-1, Mumbai.The Revenue has raised the following ground of appeal: "On the facts and circumstances of the case and in law, the ld. CIT(A) erred in directing the AO to compute deduction Under Section 80-I on the gross total income and not on the income from printing and publishing of magazines as considered by the AO, that is to allow 80-I deduction of Rs. 10,30,418/- instead of Rs. 5,10,651/- allowed by the AO." 3. The facts are that the assessee company is engaged in the business of publishing and the main object of the company is as under: "To carry on the business of printers and publishers of any news papers, journals, magazines and other literary works, undertakings and publications including printing of reports, accounts statements and stationery calendars, pictures and other works of art." During the course of the af...

Dy. Cit, Special Range-34 Vs. Investwel Publishers (P.) Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2005)96ITD106(Mum.)

These two departmental appeals are disposed of by this common order as the issues involved are common.This appeal arises from the order dated 10- 1- 1998 of CIT(A)-I Mumbai.The revenue has raised the following ground of appeal: "On the facts and circumstances of the case and in law, the learned CIT(A) erred indirecting the assessing officer to compute deduction under section 80-I on the gross total income and not on the income from printing and publishing of magazines as considered by the assessing officer, that is to allow 80-1 deduction of Rs. 10,30,418 instead of Rs. 5,10,651 allowed by the assessing officer! The facts are that the assessee company is engaged in the business of publishing and the main object of the company is as under: "To carry on the business of printer's and publishers of any newspapers, journals, magazines and other literary works, undertakings and publications including printing of reports, accounts statements and stationery calendars, pictures and other works...

Shantinagar Nagrik Mandal Vs. State of Maharashtra and anr.

Court: Mumbai

Reported in: 2005(2)ALLMR651; 2005(2)BomCR77

Kamdar S.U., J.1. The petitioner No. 1 is an association of purchasers of tenements from respondent No. 2 under the Economically Weaker section of Housing Scheme (hereinafter referred to as 'L.I.G. & E.W.S. Scheme'). These schemes are floated by the 2nd respondent Development Board. Under these schemes, the 2nd respondent which is the Housing and Area Development Board has constructed various tenements to be sold to the persons falling under the lower income as well as economically weaker section of societies on what is known as 'ownership basis'. The said scheme provided that the tenements will be sold on hire purchase and the purchaser will be entitled to make payment of the purchase price in instalments for 30 years. It is further provided that at the end of the said period when the entire purchase price is paid, the various tenement holders will become the owners in respect of their respective tenements. Under the said scheme, it is further provided that the said tenement holders t...

Madhu Malhotra Vs. Iqbal Akhtar Wd./O Mohd. Anwar

Court: Mumbai

Reported in: 2005(2)BomCR735

Mhatre Nishita, J.1. This First Appeal is directed against the judgment of the trial Court in a Chamber Summons taken out by the appellant-plaintiff No. 2 for a direction to the Court Receiver appointed in the suit to remove the obstruction of respondent Nos. 1 and 2 and for taking possession of the assets of the suit partnership for executing the order dated 19th July, 1985 with or without the aid of the police.2. In 1968, one Kulsumbi, the original plaintiff No. 1 and her daughter Tanveer, original plaintiff No. 2 and the appellant in the present appeal instituted a suit against one Mohammed Anwar, the original defendant. It was the case of the plaintiffs that they were the heirs of one Gulam Hussein Bhatti, plaintiff No. 1 being his wife and plaintiff No. 2 being their daughter, who was a partner in the business known as Picnic Lodge. The partnership firm consisted of Gulam Hussein Bhatti who died on 7-1-1966 and Mohammed Anwar. After the death of Gulam Hussein Bhatti, the partnersh...

Divisional Railway Manager Vs. Damodardas Govindbhai Wani and ors.

Court: Mumbai

Reported in: 2005(2)BomCR798

Rebello F.I., J.1. Rule. Heard forthwith.2. The petitioner is impugning the order dated 14-5-2003 in Application L.R. No. 2/80 of 1999. That was an application by 7 applicants of whom three applicants namely Rajkumar, Mukund and V.K. Naik have withdrawn their claims. By the impugned order, the learned Labour Court was pleased to allow the application of four remaining applicants who are now respondent Nos. 1 to 4 before this Court. The case of the applicants I.S. that they were working as Assistant Station Master in Western Railway. It was their contention that apart from the hours of duty until relieved they put in two additional hours of work which they were entitled to claim as over time.This claim was opposed by the petitioners herein on the ground firstly that the applicants were not workman within the meaning of Section 2(s) of the Industrial Disputes Act. Their further objection is that the applicants are not entitled to any relief as there was no settlement agreement or other c...

Hanumant Nagvekar S/O Laldu Nagvekar Vs. State (Through Margao Police ...

Court: Mumbai

Reported in: (2005)107BOMLR741a

N.A. Britto, J.1. This revision is filed by the accused in Criminal Case No. 42/S/2002.2. There is no dispute that the accused was the driver of the KTC Bus No. GA-01-X0062 which met with an accident on National Highway No. 17 on 14.1.2001 at about 16.00 hrs., at a distance of about 1 km. or so from KTC bus stand at Margao involving Tata Mobile bearing No. GA-02-C-8164 driven by Peter Rodrigues who died in the said accident along with another occupant of the said Tata Mobile by name Peter Dias. Only John J. Fernandes, another occupant of the Tata Mobile survived the said accident to tell the story as to how it took place.3. The accused was charged and tried under Sections 279, 304A and 337 of the I.P.C.4. The learned J.M.F.C. by her Judgment/Order dated 30.10.2003/ 5.11.2003 convicted and sentenced the accused to five months simple imprisonment under Section 279 of the I.P.C. and to pay a fine of Rs. 500/- in default to undergo one month of simple imprisonment; under Section 337 of the...

Parth Equipments Vs. the Commissioner of Central

Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

1. On matter being called neither anybody appeared on behalf of the appellants in spite of today's notice of hearing having been sent well in advance, nor is there any request for adjournment. We also note from the records that the appellants were unrepresented on the last two occasions of hearing. Accordingly, we have heard Shri B. Chandra, Ld.JDR appearing for the revenue and have gone through the impugned order as also the memorandum of appeal.2. It is seen that the appellants had deposited full amount of duty and the stay petition is only for waiver of penalty amount of Rs. 60,000/-.We after dispensing with the condition of pre-deposit of penalty, take up the appeal itself for disposal as the issue lies in a narrow campus.3. The original adjudicating authority confirmed the demand of duty of Rs. 1,31,405/- and Rs. 45,588/- against the appellant on the clubbing of two units and also imposed personal penalty of equivalent amount under the provisions of Section 11AC of the Central Ex...

Electrolux Kelvinator Ltd. Vs. Commissioner of Central Excise

Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in: (2005)(179)ELT214Tri(Mum.)bai

1. After hearing both sides and considered the material on record it is found that the brief background of the case and issues is ---- i. M/s. Electrolux (India) Limited, Refrigerator Plant, Dist. Chandrapur (herein after referred to as the appellants) are, inter alia, engaged in the manufacture of refrigerators falling under Chapter Heading 84.18 of Central Excise Tariff Act, 1985. ii. The refrigerators are chargeable to duty having being notified under Section 4A of the Central Excise Act, 1944 vide Notification No. 9/2000-CE(NT) dated 1.3.2000, the goods manufactured by the appellants are therefore chargeable to duty on the value determined under Section 4A of the Act after claiming abatement allowed from the retail sales price @ 40% vide Notification ibid. iii. They filed necessary declarations under Rule 173C of erstwhile Central Excise Rules, 1944 indicating the MRP for the respective models from time to time & discharged duty on the basis of the MRP declared and affixed on ...

Excellent Associates Vs. Jt. Commissioner of Income Tax,

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2006)280ITR60(Mum.)

1. This appeal preferred by M/s Excellent Associates, Mumbai against the appellate order dated 04.08.2000 of CIT(A), Mumbai for the assessment year 1996-97. 1. "On the facts and circumstances of the case and in law, the learned CIT (A) erred in confirming the order of the assessing officer determining the total income at Rs. 33,17,780/ - and thereby in rejecting the appellant's claim for deduction of a sum of Rs. 3,40,000/- being brokerage paid under the head income from property". 2. "On the facts and circumstances of the case and in law, the learned CIT (A) erred in rejecting the appellants submission that the brokerage paid to lease out the property was required to be taken in determining the Annual Letting. Value of the let out property Under Section 23(1) of the Income tax Act, 1961". 3. "On the facts and circumstances of the case and in law, the learned CIT (A) erred in rejecting the appellants submission that the brokerage paid to lease out the property was required to be taken...