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Modi Rubber Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Reported in : [1996]222ITR307(Delhi)

..... petition under section 256(2) of the income-tax act, 1961 (hereinafter called, 'the act'), relevant to the assessment year 1987-88, the assessed seeks to refer the following question for the opinion of this court :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in holding that the expenditure of rs. ..... the case of the assessed before the assessing officer was that the aforesaid expenditure was not incurred on the publication of any advertisement and that the same was incurred on putting up a pavilion in the exhibition so as to promote the image and goodwill ..... the assistant commissioner of income-tax, central circle, new delhi, took up the assessment proceeding of the assessed for the assessment year under reference and passed the order of assessment in respect of the income amongst others, holding that the expenditure incurred by the assessed to the tune ..... the said provision bans deduction in respect of expenditure incurred by an assessed on advertisement in any souvenir, brochure, tract, pamphlet or the like published by a ..... having been preferred the income-tax appellate tribunal by order dated february 15, 1993, confirmed the disallowance holding that the same was in the nature of advertisement expenditure.4. mr. s.k. ..... for putting up stall at the exhibition organized in connection with the congress centenary celebration at jaipur, falls under section 37(2b) of the act and was as such not an allowable business expenditure ?'2. .....

Commissioner of Income Tax Vs. Shri.M.Thiruvengadam

Court : Chennai

..... above said admitted facts that the amounts claimed towards service charges were utilised in assessee's business and had been diverted for investment in various properties and the same were in fact consciously claimed as expenditure as payment towards service charges, the attempt to fabricate the evidence to make an illegal gain, by suppression of profits is clearly made out attracting penalty provisions. ..... 06.2013 coram the honourable mrs.justice chitra venkataraman and the honourable ms.justice k.b.k.vasuki tax case (appeal) no.143 of 2010 --- the commissioner of income tax business range xv, chennai ...appellant -vs- shri.m.thiruvengadam ...respondent tax case appeal filed under section 260a of the income tax act, 1961 against the order of the income tax appellate tribunal madras 'a' bench, chennai dated 04.09.2009 passed in ita.no.29/mds/09. ..... aggrieved by that, the assessee filed further appeal before the income tax appellate tribunal, which, cancelled the penalty under section 271(1)(c) of the act, holding that failure to furnish or explain expenditure per se would not lead to an inference to concealment. ..... dharamendra textile processors and others reported in 306 itr277as well as the decision in the case of sir shadilal sugar and general mills and another vs cit reported in (1987) 168 itr705 the income tax appellate tribunal held that a mere concealment or furnishing of inaccurate particulars by itself would not justify the levy of penalty.10. .....

Grover Soap Private Ltd. Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Reported in : [1990]186ITR127(MP)

..... to the conclusion that the following question of law does arise out of the order passed by the tribunal :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the expenditure incurred by the assessee on account of royalty to jaikishan and jagdishchander was not allowable in computing the total income of the assessee ?'5. ..... while framing the assessment for the assessment year in question, the income-tax officer rejected the claim made by the assessee that the expenditure incurred on account of royalty paid to shri jaikishan and jag-dishchander for the use of goodwill of the national soap industry was revenue expenditure. ..... this is an application under section 256(2) of the income-tax act, 1961, hereinafter referred to as 'the act'.3. ..... on further appeal before the tribunal, the tribunal also upheld the order passed by the commissioner of income-tax (appeals) in this behalf. ..... on appeal, this finding of the income-tax officer was upheld by the commissioner of income-tax (appeals). ..... 783 of 1987.2. ..... aggrieved by the order passed by the tribunal, the assessee sought reference but as the application filed by the assessee in that behalf was rejected, the assessee has filed this application under section 256(2) of the act.4. .....

Highland Produce Co. Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1993)45ITD488(Coch.)

..... fire and the rights of the insurer gets vested in the insurance company under the principle of subrogation and, therefore, there was transfer of assets.for these reasons he upheld the order of the income-tax officer bringing to tax the capital gains (on the assets damaged or destroyed by fire) in respect of the moneys received from the insurance company.however, he noticed from the surveyors' report that it was only the building ..... moneys received were not received during the previous year but were received only in instalments in the future years and, therefore, nothing was liable to be taxed under section 41 (2) or under section 45 of the income-tax act in relation to the previous year ending on 31-12-1983, relevant to the assessment year 1984-85. ..... authority deleted the disallowance for the reason that such expenditure did not fall within the purview of section 37 of the it act as they have been specifically provided for in sections 30 and 31 of the act.the revenue is on appeal.11. ..... the assessing officer included the expenditure on motor cars and jeep in respect of repairs, taxes and insurance for purpose of restriction ..... such expenditure cannot be construed as running and maintenance expenditure of motor cars described under section 37(3a) of the act.respectfully following our own decision, for the reasons stated therein, we uphold the order of the ..... ) of 1987 dated 30-10-1992].at page 6 of its order, the tribunal held as follows: section 37 excludes expenditure mentioned in sections .....

Chamundi Granites (P) Ltd. Vs. Deputy Commissioner of Income Tax and a ...

Court : Karnataka

Reported in : (2000)162CTR(Kar)129

..... such persons in support of their explanation.with a view to circumventing this device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits, the bill seeks to make a new provisions in the income tax act debarring persons from taking or accepting, after 30th june, 1984, from any other person any loan or deposit otherwise than by an account payee cheque or account payee bank draft if the amount of such ..... tax officer supreme court considered the constitutional validity of section 40a(3) of the act which provided that expenditure ..... only empowers the assessing officer to disallow the deduction claimed as expenditure in respect of which payment is not made by crossed cheque ..... if the mode of taking or extracting loans or deposits is checked in this manner, it would certainly, to some extent, achieve the object of evasion of tax because the transactions of loans and deposits which are not genuine and which formerly could be passed off as genuine would now be less as a result of the prohibition contained ..... counsel for the appellant argued that under entry 82 of the union list which reads : 'taxes on income other than agricultural income' the parliament can pass the laws relating to taxing of income only and as the sums borrowed were not the income of the borrowed, the parliament did not have the jurisdiction to provide for levying of penalty on a sum which ..... 10,000 after the 1987 amendment) would be allowed to be deducted only if made by a crossed cheque or crossed .....

Goodyear India Ltd. Vs. Commissioner of Income-tax Delhi-i

Court : Delhi

Reported in : (2000)162CTR(Del)286; [2000]246ITR116(Delhi)

..... support of the appeal it has been contended that when no adverse comments were given by the auditors in the tax audit (as the audit under section 44ab of the act is commonly described), the authorities should not have resorted to disallowance of a portion of the claim. ..... several amounts were claimed on the following heads as expenditure:- (a) canteen expenses rs.33,37,000/- (b) sports activity expenses rs.66,15,000/- (c) sales and ..... the other question which was highlighted is that once there was a tax audit under section 44ab, the income-tax officer should not insist upon for production of the records or vouchers or ..... the factual position noted in brief is as follows: for the assessment year 1987-88 appellant, for the sake of convenience appellant is hereinafter referred to as 'assessee', filed its return of ..... is an appeal under section 260a of the income-tax act 1961 (in short the 'act').2. ..... because an audit report is available there is no fetter on the power of the income-tax officer to require the assessed to justify its claim with reference to records, materials and evidence ..... the matter was carried in appeal by the assessed before the income-tax appellate tribunal, delhi bench 'a' delhi (in short the 'tribu-nal ..... officer found that the details were not complete and in any event relevant vouchers were not produced to substantiate the claim of expenditure. ..... the matter was carried in appeal before the commissioner of income-tax (appeals)ix new delhi (hereinafter referred to as the 'cit .....

Commissioner of Income-tax Vs. Travancore Titanium Products

Court : Kerala

Reported in : [1991(62)FLR185]

..... to what extent the bonus paid to the employees is deductible as revenue expenditure in the light of the provisions of the income-tax act, particularly section 36(1)(ii) of the act, has been exhaustively dealt with by a bench of this court in cit v. ..... be claimed as a deduction and amounts paid over and above the amount payable under the payment of bonus act can be claimed as deduction under section 36(1)(ii) of the income-tax act provided the following conditions are fulfilled : the amount should be reasonable with reference to (a) the pay of the employee and the conditions of his service ; (b) the profits of the business or profession for the previous year ..... paid in excess of the statutory limit of 20% bonus payable under the payment of bonus act can be allowed taking into account all the facts and circumstances of the case, in the light of the provisions of section 36(1)(ii) of the income-tax act, as explained by this court in the above bench decisions. ..... , the income-tax officer held that it was a payment in the nature of bonus and the assessee was paying the maximum amount of bonus payable under the payment of bonus act and so the amount in excess of the amount payable under the bonus act was not allowable under section 36(1)(ii) of the income-tax act. ..... 17,13,893, the income-tax officer held that it was an expenditure relating to the prior period and so it was not allowable for the relevant assessment ..... , cashew industries : [1987]166itr611(ker) . ..... 13 of 1987--since reported in cit .....

Commissioner of Income Tax Vs. Kumararani Smt. Meenakshi Achi

Court : Chennai

Reported in : (2003)185CTR(Mad)199

..... on the question of disallowance of interest with reference to the material fact of withdrawal of deposit amount and utilisation of the same for the discharge of estate duty liability of her husband and her tax liability and the information was brought to the attention of the ito only by the audit party and it cannot be held that the audit party has interpreted the law by furnishing the information to ..... head 'business' but interest of the income was assessed only under the head 'income from other sources' and it is not the case of deduction under section 36(3)(i) (sic) of the act, the assumption that the further use of moneys has no relevance for disallowance is also not correct as the use of the moneys would have relevance in determining the question whether the interest on ..... per cent to 11.5 per cent and not with regard to the reopening of assessment, learned counsel submitted that the tribunal proceeded on a wrong basis that it was a case of allowance of business expenditure against the business income and the decisions relied upon by the assessee before the tribunal have no application. ..... the interest on money borrowed for payment of income-tax was not an expenditure laid out wholly and exclusively for the purpose of business as contemplated in sub-section (1) of section 37 of the it act. ..... 1987]166itr176(sc) wherein the supreme court held that interest on amounts borrowed to pay taxes and annuity deposit would not be an admissible deduction under section 57(iii) of the it act .....

Commissioner of Income-tax Vs. Travancore Titanium Products Ltd.

Court : Kerala

Reported in : [1990]186ITR112(Ker)

..... to what extent the bonus paid to the employees is deductible as revenue expenditure in the light of the provisions of the income-tax act, particularly section 36(1)(ii) of the act, has been exhaustively dealt with in the decision in cit v. p. ..... we answer the question referred to us in the negative, but at the same time, direct the income-tax appellate tribunal to restore the appeal to file and re-evaluate the entire matter in the light of the bench decision in cit v. p. ..... amounts paid over and above the amount payable under the payment of bonus act can be claimed as a deduction under section 36(1)(ii) provided the following conditions are fulfilled. ..... in the appeal filed by the assessee, the commissioner of income-tax (appeals) held that the payment in the instant case was made as per agreement dated september 11, 1978, between the management and the representatives of the workmen and in so far as the genuineness of the payment was ..... the income-tax officer took the view that the provisions of the payment of bonus act applied and so the assessee could not pay more than 20 per cent. ..... at the instance of the revenue, the income-tax appellate tribunal referred the following question of law for the decision of this court :'whether, on the facts and in the circumstances of the case, the tribunal was justified in deleting the addition of an amount of rs. ..... nazir, cashew industries : [1987]166itr611(ker) and the subsequent decisions in cit v. ..... nazir, cashew industries : [1987]166itr611(ker) . .....

State of Punjab Vs. Nestle India Ltd. and anr.

Court : Supreme Court of India

Reported in : (2004)189CTR(SC)501; [2004]269ITR97(SC); 2004(5)SCALE529; (2004)6SCC465; [2004]136STC35(SC)

..... court, the state government took the pleas :(1) in the absence of notification under section 4a, the state government could not be prevented from enforcing the liability to sales tax imposed on the petitioners under the provisions of the sales tax act; (2) that the petitioners had waived its right to claim exemption and; (3) that there could be no promissory estoppel against the state government so as to inhibit ..... of the nature of power wielded the government is bound to wield that power provided it possessed such power and has promised to do so knowing and intending that the promise would act on such promise and the promise has done so: 'we think that the central government had power under rule 8 sub-rule (1) of the rules to issue a notification excluding the ..... of the court:'the law may, therefore, now be taken to be settled as a result of this decision, that where the government makes a promise knowing or intending that it would be acted on by the promise and, in fact, the promise, acting in reliance on it, alters his position, the government would be held bound by the promise and the promise would be enforceable against the government at the instance of the promise, notwithstanding that ..... government now to resile from its decision to exempt milk and demand the purchase tax with retrospective effect from 1st april 1996 so that the respondents cannot in any event re-adjust the expenditure already made. ..... of the estoppel would come to an end with the 1987 decision of the cabinet.48. .....