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BipIn Vimalchand JaIn Vs. Assistant Director of Income-tax (investigat ...

Court : Mumbai

Reported in : (2007)213CTR(Bom)441

..... (1) the assets seized under section 132 or requisitioned under section 132a may be dealt with in the following manner, namely:(i) the amount of any existing liability under this act, the wealth-tax act, 1957 (27 of 1957), the expenditure-tax act, 1987 (35 of 1987), the gift-tax act, 1958 (18 of 1958) and the interest-tax act, 1974 (45 of 1974), and the amount of the liability determined on completion of the assessment [under section 153a and the assessment of the year relevant to the previous year in which search ..... the date on which the last of the authorisations for search under section 132 or for requisition under section 132a, as the case may be, was executed;thus, under the first proviso to section 132b(1)(i) of the act on an application made for release of the seized asset, within thirty days from the end of the month in which the asset was seized, the assessing officer on being satisfied regarding the nature and source ..... on 29th january, 2007 an application was made by the petitioner under section 132b(1)(i) of the income tax act, 1961 ('act' for short) inter alia seeking release of the cash amounting to rs. ..... 2 and submitted that under section 132b(1)(i) of the act the seized cash is required to be applied for satisfying the liabilities on completion of assessment under section 153a of the act as also the penalty that may be levied. ..... in the present case, the assessment is still to be completed under section 153a of the act and, therefore, the order passed by the respondent no. .....

Zarine Mangesh Edekar. Vs. Union of India and ors.

Court : Mumbai

..... petition under article 226 of the constitution the petitioner has challenged the assessment order under expenditure tax act, 1987 in respect of the payments made by him to the hotel corporation of india ltd ..... hence, for the accommodation taken by the petitioner on licence basis, no expenditure tax was payable on the licence fee paid by the petitioner to respondent no.3.the learned counsel for the petitioner fairly invited our attention to a decision of the delhi high court in the case of r.l.jain ..... at the relevant time read as under:5.meaning of chargeable expenditure-for the purposes of this act, chargebale expenditure means any expenditure incurred in, or payments made to, a, hotel to which this act applies, in connection with the provisions of,(a) any accommodation, residential or otherwise; or(b) food or drink by the hotel, whether at the hotel or outside, or by any other person at the hotel; or(c) any accommodation in such hotel on hire or lease; ..... - for the purposes of this act, chargeable expenditure means any payments made to, a hotel to which this act applies, in connection with the provision of , -(a) (b) (c) any accommodation in such hotel on hire or lease :or "6.faced with this, mr.sanklecha submitted that the term "hire" pertains only to payments made for the use or occupation ..... raised by the petitioner in this petition is that payments for the licence fee made by the petitioner to the hotel for the premises in question could not be subjected to levy of tax under the act. .....

All India Federation of Tax Practitioners and ors. and Indian Institut ...

Court : Mumbai

Reported in : (2001)168CTR(Bom)24; [2002]256ITR401(Bom)

..... the levy of tax under the expenditure-tax act, 1987, enacted by parliament. ..... expenditure tax and tax on the sale of goods were covered by the entries in the state list, there was nothing left for parliament to tax ..... to be competent the impugned provisions mete out discriminatory treatment, inasmuch as the same services being rendered by non-qualified persons are not subjected to tax but only services being rendered by the practicing chartered accountants and architects are subjected to tax and, therefore, the act is violative of article 14 inasmuch as the differentia on which the architects and chartered accountants are classified is arbitrary and unintelligible and has no rational ..... that economists regard an entertainment tax as a tax on expenditure and, indeed, when the tax is imposed on the receiver of the entertainment, it does become a tax on expenditure, but there is no warrant for holding that entry 50 contemplates only a tax on moneys spent on ..... the relevant entries and the decisions we feel that the learned attorney-general is right in urging that merely because the 1998 act as well as the state acts levy a tax which have an ultimate impact on persons who are carrying on profession, the pith and substance of both cannot be considered ..... harbhajan singh dhillon's case : [1972]83itr582(sc) , the validity of the central legislation, namely, the gift-tax act, 3958 was challenged on the ground that the legislature encroached upon the state's legislative power under entries 18 .....

All India Federation of Tax Practitioners Vs. Union of India

Court : Mumbai

Reported in : [2001]116TAXMAN418(Bom)

..... the challenge is to the levy of tax under the expenditure tax act, 1987, enacted by the parliament. ..... expenditure tax and tax on the sale of goods were covered by the entries in the state list; there was nothing left for the parliament to tax ..... held to be competent the impugned provisions meet out discriminatory treatment, inasmuch as same services being rendered by the non-qualified persons are not submitted to tax but only services being rendered by the practising chartered accountants and architects are submitted to tax and, therefore, the act is violative of article 14 inasmuch as the differentia on which the architects and chartered accountants are classified is arbitrary and unintelligible and has no rational nexus ..... is true that economists regard an entertainment tax as a tax on expenditure and, indeed, when the tax is imposed on the receiver of the entertainment, it does become a tax on expenditure, but there is no warrant for holding that entry 50 contemplates only a tax on moneys spent on luxuries, entertainments ..... in the light of the relevant entries and decisions we feel that the learned attorney general is right in urging that merely because 1998 act as well as state acts levy a tax which have the ultimate impact on the persons who are carrying on profession, the pith and substance of both cannot be considered to ..... the act envisaged a tax at 10 per cent ad valorem on chargeable expenditure incurred in the class of hotels wherein room charges for any unit of residential .....

All India Federation of Tax Practitioners and anr. Vs. Union of India ...

Court : Mumbai

Reported in : 1997(4)ALLMR709; [1997]228ITR68(Bom)

..... where the court was dealing with the constitutional validity of expenditure tax act, 1987. ..... is as under : 'simultaneously with the announcement of one or both of these schemes or some other scheme which the government may devise, it should be made clear to those liable to taxation that having brought down the tax rates to reasonable levels and having given an opportunity to those who have erred in the past to disclose their black wealth and to return to the straight path, government would strongly come down ..... it is seen that the final recommendations of the committee are as stated above; but, at the same time, the committee has also taken into consideration the fact that, as tax evasion or avoidance is indulged in only by few individuals on a small scale and the administration is both alert and efficient in dealing with the same, there need be no cause ..... dealing with the immunities given and exemptions granted to persons having unaccounted money who have evaded taxation and concealed their income despite stringent tax laws, the court held that it would be outside the province of the court to consider if any particular immunity or exemption is necessary or not for the purpose of inducing the disclosure of black money; it depends upon ..... call for serious effort to ensure better tax compliance and also bringing presumptive incomes, computed from high expenditures of creamy layers, under the tax net. ..... the it act is subject to this scheme and immunities are given to dishonest tax-payer. .....

Commissioner of Income-tax Vs. Cadbury India Ltd.

Court : Mumbai

Reported in : (2001)168CTR(Bom)340; [2001]249ITR475(Bom)

..... 1987] 165 itr 765 in which it has been held that the word 'expenditure' is not defined in the income-tax act ..... referred by the tribunal for the opinion of this court under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the depreciation allowance is an expenditure to be considered for weighted deduction under section 35c of the income-tax act, 1961 ?'2. ..... 37 of the income-tax act, capital expenditure is excluded. ..... contended that the reference to the amount of expenditure in section 35c of the act would mean actual expenditure whereas depreciation was a notional expenditure and, therefore, depreciation cannot be claimed as ..... he, therefore, urged that agricultural development allowance would cover onlyactual expenditure incurred in respect of the goods provided to the cultivator and it would not cover ..... appearing on behalf of the department, contended that section 35c of the income-tax act, as it stood at the relevant time, is an independent section. ..... by its use in connection with the services or facilities provided tothe cultivator and, consequently such reduction in its value would have to be treated as an expenditure while arriving at the taxable income of the assessee. ..... assessing officer on the ground that depreciation allowance is not an expenditure to be considered for weighted deduction under section 35c of the act. ..... filed this appeal under section 260a of the income-tax act.3. .....

R. Vs. Pandit V. Assistant Commissioner of Income-tax

Court : Mumbai

Reported in : (1999)64TTJ(Mumbai)529

..... the commissioner (appeals) mentioned that the appellant had claimed deduction under section 37 of the income tax act but held that the expenditure is not allowable under this section and he upheld the action of the assessing officer in granting the deduction under section ..... the claim for deduction under section 35a of the income tax act as the acquisition of copyrights or patent rights in music and allowed deduction of 1/ 14th of the expenditure of rs. ..... contended that the payment was made to the retiring partners in lieu of their share in future profits of the business and was in the nature of deferred revenue expenditure and as the amount was paid out in the year of account relevant for the present assessment year, it was claimed as all allowable deduction. ..... the royalty so payable for production and sale after 5 years would be worked out at 13.5% of the net domestic price of the record/cassette (less of sales tax duties and c13s's standard packaging deduction of 10%),we confirm that the sound track is free from all claims of copyright and we are the owners of the sound track in ..... is claimed that the payment in question being of the nature of a royalty is allowable as a revenue expenditure in the year it is paid, which is the previous year relevant for the assessment year 1987-88.6. ..... words, 1/5th of this amount is deductible in the assessment year 1987-88. ..... year 1987-88.8. ..... appeal is directed against the order of the commissioner (appeals) dated 29-1-1991 for the assessment year 1987-88. .....

Bennet, Coleman and Co. Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... paid to the corpus fund of the times research foundation as research expenditure under section 35(1)(iii) of the income-tax act." 18. ..... of revision and in that connection, held the following, as per the head note at page 547 : "the jurisdiction vested in the commissioner under section 263(1) of the income-tax act, 1961, is of a special nature or, in other words, the commissioner has the exclusive jurisdiction under the act to revise the order passed by the ito if he considers that any order passed by him was erroneous in so far as it was prejudicial to the interests of the revenue ..... the institution mentioned below has been approved by the indian council of social science research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the income-tax act, 1961, subject to the following conditions : (i) that such funds collected by the foundation under this exemption shall be utilised exclusively for promotion of research in social sciences. ..... be stressed in this behalf are that it was as far back as 1937 that the cit had granted recognition to the provident fund maintained by the assessee under the relevant rules under the 1922 act, that such recognition had been granted after the true nature of the commission payable by the assessee to its salesman under their contracts of employment had been brought to the notice of the commissioner ..... the letter dated 18-12-1987 is now furnished at page 1-3 of ..... to the assessee on 18-12-1987, the iac, asstt. .....

Filmyug Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : (2003)182CTR(Bom)395; [2003]261ITR263(Bom)

..... 'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the provisions of sub-section (3d) of section 37 of the income-tax act, 1961, were not applicable in respect of the expenditure on publicity for sales promotion incurred by the assessee in the assessment years 1979-80 and 1980-81? ..... , on the facts and in the circumstances of the case, the tribunal was right in holding that for computing the disallowance under section 40(c) of the income-tax act, 1961, in respect of expenditure which resulted in remuneration, benefit or amenities to the managing director, shri j. ..... tax (appeals) set aside the order of the income-tax officer by holding that the restrictive provisions contained in section 37(3d) have to be liberally interpreted and every picture being a new product requires advertisement and expenditure on such advertisement is covered by the provisions of section 37(3d) and as such the assessee cannot be processed under section 37(3a) of the income-tax act ..... (c) where a taxpayer has set up an industrial undertaking for the manufacture or production of any articles, no disallowance will be made under this provision in respect of the expenditure incurred by the taxpayer for the purposes of the business of such undertaking for a period of three accounting years, namely, the accounting year in which such undertaking begins ..... 1987 ..... 624 of 1987) for the sake of convenience, and the decision ..... 404 of 1987) is covered by the decision of ..... 1987 ..... 1987 .....

ito Vs. Shreyas Shipping Ltd.

Court : Mumbai

Reported in : (2002)76TTJ(Mumbai)11

..... the return on income is, therefore, based on short ground that there is no concept of deferred revenue expenditure in the income tax act and there are only two types of expenses, i.e. ..... there was no concept of deferred revenue expenditure under the income tax act, except in the sections where it-had been ..... it hard to accept the proposition that under the income tax act there is watertight compartmentalisation of expenditure to be either allowed in one single year as revenue expenditure or to be disallowed altogether as capital expenditure. ..... under the income tax act, however, there was no concept of deferred revenue expenditure and there were only ..... that under the income tax act there is no room for deferred revenue expenditure. ..... account is regularly employed :'the only departure made by section 13 of the indian income tax act from the legislation in england is that whereas under the english legislation, the commissioner is not obliged to determine the profits of a business venture, according to the method of accounting adopted by the assessee, under the indian income tax act, prima facie, the income tax officer has for the purpose of sections 10 and 12 to compute the income, profits ..... depending on the facts and circumstances of each case, weigh to determine profit or gains or losses of the year but the position remains that an expenditure which arose in an earlier year or which may arise in a subsequent year cannot be allowed as deduction where the system of accounting is the ..... cit (1987) .....