Mumbai Court August 2004 Judgments

New Alfa Vs. Dy Cit

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2005)1SOT302(Mum.)

This Block assessment appeal is filed by the assessee. It is directed against the order of the CIT (A), Mumbai dated 16-2-2004, passed in the context of assessment framed under section 158BC for the block period from 1-4-1990 to 5-3-2001, on an undisclosed income of Rs. 1 crore, as against returned undisclosed income of Rs. 35 lakhs.Assessee is a partnership firm which was constituted in October, 1997 at Dadi House situated at Irla Society Road, Vile Parle (West), Mumbai.The assessee, being a well-known custom notified shop, is engaged in the business of trading in consumer goods such as confectioneries, perfumes, electronic goods, home appliances, etc. In August, 1999, the business of M/s. New Alfa was expanded by opening an additional showroom at Oscar House, Irla Society Road, Vile Parle (W), Mumbai.A search and seizure action under section 132 of the Act took place on 5-3-2001 on the business premises of the assessee. At the time of search on 5-3-2001, cash of Rs. 2,650 was found,...

Jt. Cit Vs. Piem Hotels Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2005)1SOT382(Mum.)

"1. On the facts and in the circumstances of the case and in law, the learned CIT (A) erred in holding that the expenditure incurred on replacement of carpet in the case of Hotel business is revenue expenditure and further erred in not following the ITAT, Mumbai decision in assessees own case, on similar issue in ITA No. 8106 dated 6-3-1999 in assessment year 1992-93 and has ignored that : (a) the expenditure on substantial replacement of capital assets necessarily constitutes capital expenditure as held in the case of M/s.Assam Bengal Cement Co. Ltd. v. CIT (27 ITR 34) (SC) (b) the substance of expenditure would remain unaffected by the form of accounting treatment which cannot circumvent the ratio of the Honble Supreme Court (supra).2. On the facts and in the circumstances of the case and in law, the learned CIT (A) erred in holding that the expenditure on replacement of linen in the case of hotel business is revenue expenditure, ignoring that : (a) the initial outlay on linens havi...

ito Vs. Midas Touch Exports

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2005)1SOT553(Mum.)

"1. On the facts and in the circumstances of the case and in law, the learned CIT (A) erred in holding the interest income as income from business, observing that there being a close connection between FDR have been offered as collateral security for availing credit facility for appellants business, ignoring that interest from FDR cannot be business income under provisions of Explanation (baa) of section 80HHC.2. On the facts and in the circumstances of the case and in law, the learned CIT (A) erred in holding the interest income as income from business by relying on the decision of Mumbai High Court decision in the case of Punit Commercial Ltd. 245 ITR 551 (Bom) and Bombay ITAT decision in the case of Pink Star 27 ITD 137 (Bom-Trib).3. On the facts and in the circumstances of the case and in law, the learned CIT (A) erred in holding the above without appreciating the latest decision f Bombay High Court in the case of CIT v. Ravi Ratna Exports (P) Ltd. 246 ITR 443 (Bom) and other deci...

De Vs. Hi Ramji Makwana

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2005)1SOT540(Mum.)

This appeal filed by the assessee is directed against the order dated 25-8-2000 of the CIT (A)-XXXIV, Mumbai, in Appeal No. CIT (A)XXXIV/IT/66/7(2)/99-2000, confirming the addition of Rs. 6 lakhs made by the assessing officer on account of on-money alleged to be received on sale of a Bungalow at Chembur, Mumbai, in the assessment year 1993-94.The facts in brief are that the assessee is an individual. For the assessment year under appeal, the assessing officer issued a notice under section 148 of the Income Tax Act on the basis of information received from D.D.I. (Inv), Unit-IV regarding assessees purchase and sale of a bungalow at Chembur, Mumbai. The assessee filed return of income, wherein, he has shown income from brokerage and commission of Rs. 19,960 and short term capital gain of Rs. 60,000 on sale of bungalow No. 9, Trishul Complex, Sindhi Society, Chembur.The assessing officer in the assessment order stated that assessee was a drug smuggler. During the course of investigation ...

Girishchandra Ramchandra Sharma Vs. Shreeram Ramdhari Moryaji

Court: Mumbai

Reported in: 2004(4)ALLMR483; 2004(6)BomCR49; 2004(4)MhLj575

D.G. Karnik, J.1. By this petition, the petitioner challenges the judgment and order dated 5th October 1991 passed by the learned 3rd Addl. District Judge, Thane dismissing Civil Appeal No. 239 of 1987 and thereby confirming the dismissal of the suit for possession filed by the petitioner. The facts which are relevant for the purpose of decision of the appeal are given below:2. The petitioner claiming to be an owner of the property bearing Shop No. 7A in Krishna Trading Centre, Thane (hereinafter referred to as 'the suit premises') filed a suit for possession against the respondent tenant on the ground of default. Prior to the suit, the petitioner had issued to the respondent a notice on 13th January 1980 claiming arrears of rent from October 1978 at the rate of Rs. 40/-. per month plus taxes. The trial Court held that respondent was in arrears of rent for a period of more than six months and had failed and neglected to pay the same despite notice of demand. The trial Court also held t...

Greaves Cotton and Co. Ltd. Vs. State of Maharashtra

Court: Mumbai

Reported in: 2004(4)ALLMR641; 2004(6)BomCR564; [2005]57SCL19(Bom)

S. Radhakrishnan, J.1. The common point of law raised in both these petitions is whether stamp duty is chargeable on mere allotment of a convertible debenture without an instrument of debenture having been issued therefor, and the only instrument having been issued being a share certificate upon conversion of the debenture.2. In Writ Petition No. 1347 of 1992, the petitioner, Greaves Cotton & Company Ltd., a public limited company, had made a letter of offer on 12-4-1991 offering 12.5% Secured Fully Convertible Debentures of the face value of Rs. 40 each for cash at par to the equity shareholders and employees of the petitioner. The relevant part of the said letter of offer reads as under :-'Each Debenture of Rs. 40 will be compulsorily and automatically applied towards the cost of one fully paid Equity Share of the Company of the face value of Rs. 10 each at a price of Rs. 40 per share (including the premium of Rs. 30 per share) without any payment in cash 12 months after the date of ...

Collector of C. Ex. and Cus. Vs. Madhusudan Chemical Indus.

Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in: (2004)(174)ELT335Tri(Mum.)bai

1. Heard both sides. The issue involved in this appeal is clubbing of clearances of the following five units with those of M/s. Madhusudan Chemical Industries (proprietary concern).2. All the units are engaged in the manufacture of Organic Surface Active Agents (Acid Slurry). Clubbing of clearances is sought to be made based on the allegation that M/s. Madhusudan Chemical Industries is the real manufacturer and remaining units are created only on paper to avail of the benefit of SSI exemption.3. By the impugned order dated 31-1-1990, the Commissioner has vacated the notice on the ground that the units are independent and there is no evidence of financial or administrative control of M/s. Madhusudan Chemical Orders over to other units.4. It is contended that all the six units registered are SSI Units and they have been in existence much prior to imposition of duty on Organic Surface Active Agents on 1-8-1985.5. The Central Board of Excise & Customs, New Delhi, issued a Circular No....

Afcons Infrastructure Limited Vs. Commissioner of C. Ex.

Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in: (2004)(173)ELT430Tri(Mum.)bai

1. This appeal is filed against the order of the Commissioner of Central Excise, who has confirmed a duty demand of Rs. 2,62,336.95 against appellants on the ground that they manufactured barge i.e.Pontoon named "AF-BP-ROSE" and also imposed penalty of Rs. 10,000/- upon them.2. We have heard both sides. We find that in response to tender dated 14-10-1985 floated by the Metropolitan Transport Project (Railways), the appellants submitted its quotation, which was accepted and the order was placed on the appellants for design and construction of a Double Track Broad Gauge Railway Bridge across the Thane Creek near Bombay. The Metropolitan Transport Project Railways agreed to supply them structural steel. For the construction work specialised machinery and floating cranes for use in the creek were required and the crane had to be mounted on special barges stationed in the creek. The barge was of a special type and had to be specially designed. The appellants placed order with M/s. Sadanand...

Commissioner of Customs Vs. Marvel Glove Industries

Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in: (2005)(180)ELT117Tri(Mum.)bai

1. Revenue is in appeal, aggrieved by the order of the Commissioner (Appeals), who allowed exemption under Notification 29/97 CUS dated 01.04.97 for an import under EPCG scheme to a machine imported by the respondent, which was an "Automatic Seamless Glove Making Machine".This was imported under an obligation to export knitted seamless gloves plain type (knitwear) and anti-slip knitted seamless gloves with polka dots or coating knitwear.2. This import was not allowed by the original authority on the grounds:- "Provided that the said goods are required for manufacturing Textile Garments (including knitwear), such goods shall be exempted from whole of additional duty leviable thereon under Section 3 of the said Customs Tariff Act". ii) The goods 'knitted gloves' to be manufactured by the machine are textile garments (wearing knitwear) was not acceptable. iii) The classification of Textile Commissioner dated 25.02.99 certifying the knitted gloves to be textile garments produced by the ex...

Ajit India Pvt. Ltd., Shri Vs. Commissioner of Central Excise

Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

1. The brief facts of the case are that M/s Ajit India Private Limited (hereinafter referred to as the "assessee") are engaged in the manufacture of Aluminium doors and windows, curtain walls and glazed windows falling under chapter heading 7610.90 of Central Excise Tariff.An intelligence was gathered that the said assessee was indulging in evasion of central excise duty by misdeclaring that they are manufacturing only aluminium doors and window frames whereas they received orders from various customers for the manufacture and supply of curtain walls, glazed windows, aluminium doors and windows, and not only for frames.2. It was found that the assesses fabricated aluminium window frames in the case of openable windows (R-series windows) and aluminium channels for sliding windows, and cleared the same in a dismantled condition/knocked down condition from their factory premises. The glass panes for these windows/doors were purchased and sent directly to the site where all these parts we...