Court : Gujarat
Decided on : Jul-19-1994
Reported in : [1996]219ITR748(Guj)
..... transaction. the set off is restricted to liability for any tax or any other sum remaining payable under the income-tax act, 1961, the gift-tax act, the estate duty act, the wealth-tax act, or the companies act but no other liability on account of any tax is permissible to be set off by the appropriate authority out of ..... amount of apparent consideration cannot be reduced by any such hypothetical sum. the consideration envisaged to be paid to the transferor is 'apparent consideration' as defined in the act and not the 'net amount' that will be left with the vendor after incurring the expenses of conveyance. 11. apart from that there is no provision under ..... the agreements on february 20, 1991, for purchasing the properties specified in the two agreements, by the central government in terms of section 269ud of the income-tax act.3. while determining the consideration to be paid to the transferee, the appropriate authority decided to deduct two sums. in the first instance, it decided to deduct .....
Tag this Judgment!Court : Gujarat
Decided on : Mar-02-1994
Reported in : 1995(2)ALT(Cri)13; 1996CriLJ1263; (1994)1GLR792
..... him to commit the present crime, these are the circumstances which strongly command us to give the benefit of probation to the appellant under section 33 of the ndps act.11. while parting, we deem it absolutely necessary to observe that both the investigating agency as well as the concerned court are under legal obligation viz., that ..... in the crime alleged against him. there is nothing in the report to indicate that before the appellant came to be convicted for the present offence under the ndps act, he was having any criminal antecedents. in other words, the present offence is the only and first offence in his life-time. not only that but the ..... charge of having been found in possession of opium weighing 4kg.300 grams from his scooter, punishabale under sections 17 & 18 of narcotic drugs & psychtropic substances act, 1985 (for short 'ndps act') was ultimately convicted for the same and sentence to undergo rigorous imprisonment for 10 years and to pay time of rs. 1 lac and in default to .....
Tag this Judgment!Court : Gujarat
Decided on : Oct-26-1994
Reported in : [1995]213ITR677(Guj)
..... for affiliation or, where no federal society exists, the gujarat state federal society; and (c) any charitable purpose as defined in section 2 of the charitable endowments act, 1890.' 17. the question comes up for consideration whether there is any statutory bar and/or impediment for the concept of 'mutuality' in the co-operative ..... whose transactions with its members were incapable of producing a profit and it was not, therefore, liable to be assessed under the assam agricultural income-tax act. in the aforesaid facts, it was held that the society was not exempt from liability to assam agricultural income-tax in respect of profits from the ..... . in the said case the appellant, the english and scottish joint co-operative wholesale society ltd., incorporated in the united kingdom under the industrial and provident societies act, 1893, had as its objects, the carrying of the business of planters, growers, producers, merchants and manufacturers and brokers of tea. the society consisted of .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-30-1994
Reported in : [1995]215ITR95(Guj)
..... said ornaments is required to be included in the income, and the assessee is required to be taxed as provided under section 132(5) of the income-tax act, 1961 ('the act'). he, therefore, submitted that, in the interest of justice and to see that the petitioner does not suffer a huge loss, the gold ornaments may be ..... , jewellery or other valuable article or thing and any statement made by such person during such examination may there after be used in evidence in any proceeding under the act. 22. admittedly, in this case, when the statement of ashit m. shah was recorded by the authorised officer at madras, respondent no. 4 has specifically stated that ..... name and style and respondent no. 1, income-tax officer, ahmedabad, is an assessing officer who has the jurisdiction to assess the income of the petitioner under the act. it is the further say of the petitioner that the assistant director of income-tax (investigation), madras, has seized the gold ornaments belonging to the petitioner from the .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-26-1994
Reported in : 1996(81)ELT453(Guj); (1995)1GLR518
..... that in this sort of smuggling cases, the kingpin always remains out of reaches of the law enjoying in five star hotels and petty henchmen like his clients acting under some unfortunate compulsions of life, just become victim of the circumstances are booked and ultimately have to face the roughs, toughs and rigorous of prosecution, ..... so as not to take them by surprise by imposing sentence lesser than the minimum prescribed. fifteenthly, over and above the statutory minimum sentence prescribed under the act, having regard to the facts and circumstances of the case where the offence alleged is of extreme grave and serious nature and accordingly, if the court was ..... on the above listed judicial frequencies and thereby clearly overlooked extreme gravity and seriousness of the alleged offence and the proviso to section 135 of the customs act providing for minimum sentence of three years, etc., in this view of the above catalogue of glaring circumstances of which a judicial notice could be and .....
Tag this Judgment!Court : Gujarat
Decided on : May-06-1994
Reported in : AIR1995Guj29; (1994)2GLR1325
..... of limitation, the court relied upon the following passage in halsbury's laws of england vol. 24, p. 181 (para 330) :'330. policy of limitation act : the courts have expressed at least three differing reasons supporting the existence of statutes of limitation, (i) that long dormant claims have more of cruelty then justice ..... condonation of delay, merits should be decided. if the merits are decided for condoning delay, it would be against the provisions of section 3 of the limitation act, 1963. section 3, inter alia, specifically provides that every suit instituted, appeal preferred and application made after the prescribed period shall be dismissed, although limitation ..... private citizen, its problems are peculiar. nevertheless, the peculiarity of these problems assumes significance only where 'public interest' was shown to have suffered 'owing to acts of fraud or bad faith on the part of its officers or agents and where the officers were clearly at cross-purposes with it'. however, these .....
Tag this Judgment!Court : Gujarat
Decided on : May-04-1994
Reported in : (1994)2GLR1481; [1995]212ITR255(Guj)
..... been completed and the necessary assessment orders have been made, on october 29, 1984. the assessee-accused had submitted the necessary return under the wealth-tax act and the assessment proceedings were also concluded. in this case also, no penalty proceedings were initiated by the department either on the count of concealment of ..... of their returns. 25. in parkash chand v. ito the prosecution was launched against the assessee for the offence under section 277 of the income-tax act on the basis of false returns, false accounts and inflated items of purchases. pending the criminal proceedings, in penalty proceedings for concealment of income, the tribunal ..... on trial. this contention also cannot be accepted, regard being had to the provisions contained under section 44aa and the provisions contained under chapter xvi of the act of 1961. these provisions would go to show that the income of the respective petitioner-assessees, being the income from the partnership business, the maintenance of .....
Tag this Judgment!Court : Gujarat
Decided on : Feb-03-1994
Reported in : [1994]207ITR40(Guj)
..... is 1976-77. the assessee is a limited company carrying on the business of manufacture and sale of electrical domestic grinding machines. under rule 9 of the central excise act, 1944, the company had been collecting excise duty from the customers in respect of the grinding machines sold. as a manufacturer, the assessee was required to pay ..... excise duty under section 3 of the central excises and salt act, 1944, and it was recovered by it from the customers. the amount paid as excise duty was accounted for in a separate account called 'central excise duty account ..... tax officer, in an order approved under section 144b by the inspecting assistant commissioner, brought to tax the above amount under section 41(1) of the income-tax act. according to the income-tax officer, the amount was recovered from the customers as part of the price of grinders sold to them and the excise duty paid had .....
Tag this Judgment!Court : Gujarat
Decided on : Feb-23-1994
Reported in : [1997]226ITR742(Guj)
..... import of the order passed by the asstt. cit (inv.). the asstt. cit (inv.) had recorded statements of three persons under s. 131 of the act. the petitioner was given opportunity to cross-examine the persons whose statements were recorded. that opportunity was availed of by the petitioner. after considering relevant facts and ..... the suit, the petitioner applied for interim injunction restraining the defendants from implementing the said order of assessment. after considering the provisions of s. 293 of the act, the learned civil judge (s.d.), rajkot, came to the conclusion that civil court has no jurisdiction to entertain the suit. in that view of the ..... to be purchased. the persons whose statements were recorded were allowed to be cross-examined by the petitioner. three gentlemen who were examined under s. 131 of the act were cross-examined by shri d. v. lalchandani, authorised representative of the petitioner in presence of the petitioner. thereafter, the asstt. cit (inv.) issued notice dt .....
Tag this Judgment!Court : Gujarat
Decided on : Dec-19-1994
Reported in : [1995]216ITR555(Guj)
..... are indeed quite good at their respective places in the context and relation to the other word, phrase or expression used in the concerned section of the particular act. the same word, phrase or expression connotes altogether a different meaning when read in the context of different words, phrases or expressions. for example, if ..... at length, there is indeed no doubt whatsoever that the learned magistrate has committed a patent and obvious error in not properly interpreting s. 276dd of the act by inarticulately relying upon the decision of the andhra pradesh high court in the case of ito vs. lakshmi enterprises (supra). on going through the said judgment ..... quashing and setting aside the impugned orders of sentence, replacing them by appropriate orders enhancing the sentences, as warranted by the said ss. 276dd and 276e of the act. 6. countering the above submissions of mr. naik, mr. k. h. kaji, learned counsel appearing for the respondent-accused, submitted that the learned magistrate has .....
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