Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1988)24ITR329(Hyd.)
..... heir to the interest inherited by her in the family property gets fixed on the death of a male member under section 6 of the act but she cannot be treated as having ceased to be a member of the family without her volition as otherwise it ..... the interest she has inherited and the share which would have been notionally allotted to her as stated in explanation 1 to section 6 of the act. but it cannot be an authority for the proposition that she ceases to be a member of the family on the ..... as an authority for the position that when a female member who inherits an interest in the joint family property under section 6 of the act files a suit for partition expressing her willingness to go out of the family, she would be entitled to get both ..... must be deemed to have been impliedly overruled. the learned counsel for the assessee submitted that under the proviso to section 6 of the hindu succession act, the share of the deceased in the deceased's property is fixed.once the share is fixed she enjoys the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1988)25ITD1a(Hyd.)
..... in the manufacture or production of an article or a thing and it being a small-scale industrial undertaking is entitled to investment allowance under section 32a of the it act. even assuming that it is an industrial undertaking and not a small-scale industrial undertaking inasmuch as it is engaged in assemblage of loose ..... assembling also as a part of manufacturing activity. if this definition is incorporated and the same meaning is ascribed to the word 'manufacture' used in section 32a of the it act then there is no difficulty in finding that assembling in any form can be called as activity of manufacture. the learned departmental representative, however, objected ..... 1982-83. there are only two points involved in this appeal. the first point is whether the assessee is entitled to investment allowance under section 32a of the it act and the second point is whether the assessee should be treated as an industrial company entitled to concessional tax rate applicable to the industrial companies .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1988)26ITD508(Hyd.)
..... purpose of showing that there was no open market for the sale of gas cylinders, that proper storage and maintenance of cylinders was subject to the provisions of the indian explosives act as well as the gas cylinder rules, 1981 which was published in the gazette of india (extraordinary) dated 24-2-1981. he also relied upon the said decision to ..... on behalf of the assessee. we are inclined to agree with the submission advanced on behalf of the assessee-appellant. our reasons are as follows : sub-sections (1) and (2) of section 7 of the wt act as far as necessary for our purpose read as under : 7(1) subject to any rules made in this behalf, the value of any asset other ..... the valuation date and making such adjustments therein as may be prescribed.we may state that rules 2a to 2g were all framed to cater to the purposes contemplated under section 7(2). under rule 2a the wto is empowered to determine the net value of the assets of the business as a whole having regard to the balance sheet of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1988)26ITD198(Hyd.)
..... that the technical fees is a higher figure than what is apparent. the same result would follow if we were to resort to the statutory provisions found in section 28. under section 28(iv) the value of any benefit or perquisite, whether convertible into money or not, arising from business or the exercise of a profession would also ..... the liability to pay indian income-tax in their books of account. that is because as per the contract the assessee is not liable to indian income-tax act. so, the books of account do not have to record that liability. now merely because a liability is not recorded it does not cease to be an amount ..... personnel. normally, managerial or technical consultancy services would be done by a non-resident company by utilising the services of their managers and technicians, the company has to act only through its employers or directors. thus, the human element in such consultancy services is already implied. but, the legislature in their wisdom had decided to add the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1993)45ITD149(Hyd.)
..... is what is held: it is true that once a final assessment is arrived at, it cannot be reopened except in the circumstances detailed in sections 147 and 154 of the act. while section 154 deals with mistakes apparent from the records and may not cover a case where a reassessment has to be made to charge tax, if it ..... were granted export permits by the collector for exporting boiled rice to kerala. the contributions paid to the ap welfare fund were claimed as business expenditure under section 37(1) of the it act. the ito rejected the plea of the assessee, whereas the aac as well as the tribunal held that since the payments were only voluntary and that ..... above facts confirmed the decision of the tribunal and while confirming the tribunal's decision held as follows as pages 62 and 63 of the reported decision:- section 37 of the said act, inter alia, clearly provides that the expenditure claimed by way of deduction should be laid out or expended wholly and exclusively for the purposes of business .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1989)28ITD92(Hyd.)
..... case in denying to the assessee interest from 22nd of february 1978, the date of the tax deposited by them. as far as income-tax act, 1961 is concerned, sub-section (8) of section 2 simply stops by saying that assessment includes reassessment. obviously it is not at all exhaustive a definition. what is generally understood by an order ..... as is evident, the question for consideration is not of interest. it pertains to the admissibility of the interest from a particular date in terms of section 244(1a) of the act. during the hearing, the revenue also tried to buttress their plea of want of jurisdiction on ground that the interest was not claimed by the appellants ..... the appellants became refundable.4. modification order was passed by the income-tax officer on 14-6-1984. dealing with the question of interest allowable under section 244(1a) of the act, the income-tax officer took the view that the appellants were entitled to get interest only from the date of the assessment orders completed by him .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1989)29ITD408(Hyd.)
..... of an individual. the fact that he steadfastly held the same opinion would be proved by the fact that despite issue of notices under section 148 of the income-tax act and sections. 17 and 18 of the wealth-tax act only nil returns were filed by the assessee and it would amply prove the bona fide of his belief. further, the aac by ..... , assessable as a huf. the tribunal's decision is provided at pp. 61 to 63 of the paper compilation.3. penalties under section 271(1)(a) of the income-tax act and section 18(1)(a) of the wealth-tax act were levied by the ito and wto respectively for not filing the returns of income-tax side and wealth-tax side in the ..... the paper compilation. on income-tax side notices dated 18-1-1981 were served against the assessee under section 148 of the i.t. act. in response to those notices the assessee filed only nil returns. so also on wealth-tax side notices under section 17 dated 4-3-1983 were issued to the assessee. it was submitted that in pursuance of those .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1989)29ITD302(Hyd.)
..... departmental representative contended before us that the appellant filed an appeal before this tribunal ; that while dealing with the plea for condonation of delay under section 5 of the limitation act the law empowers this tribunal only to deal with the issue of condonation. that it was not legally permissible for this tribunal to accord a ..... hukumchand mills ltd.'s case (supra), the supreme court held that the powers of the appellate tribunal in dealing with appeals are expressed in section 33(4) of the income-tax act (1922 act) in the widest possible terms. wordings of the statute restrict the jurisdiction of the tribunal to the subject-matter of the appeal. it ..... by the state of jammu & kashmir, which having been denied, their lordships of the supreme court held that the expression 'sufficient cause' in section 5 of the limitation act is adequately elastic to enable the courts to apply the law in a meaningful manner which subserves the ends of justice. the next court has enunciated .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1995)53ITD25(Hyd.)
..... was stated, was the only discordant one.5. yet another contention put forth on behalf of the revenue was that since a standard deduction is permitted under section 16(1) of the act, that was supposed to cover conveyance expenditure and, therefore, no further allowance under the head "conveyance" is permissible. on behalf of the assessee, this contention ..... prohibition for considering as an exclusion from the total income, conveyance allowance received by an assessee, as long as it fell within the purview of section 10(14) of the income-tax act, 1961.6. we have considered the rival submissions. adverting first to the contentions put forth on behalf of the revenue that when a standard ..... paid by the life insurance corporation as incentive bonus is fully taxable or whether any deduction could be allowed there out under the provisions of section 10(14) of the income-tax act, 1961.2. as far as the aforesaid two points are concerned, the division bench was of the view that there was, to some extent .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1989)31ITD273(Hyd.)
..... (supra). the calcutta high court in that case laid down that in a case where the deduction from business profits are to be claimed under sub-section (2) of section 10 of the i.t. act, the onus of proving that such allowances are permissible is upon the .assessee and the high court in such cases must base its answer on the ..... with or outstrip in the competition with a new theatre which had recently sprung up, and the expenditure did not fall within the scope of section 10(2) (v) of the act. it was not allowable under section 10(2)(xv) as substantial improvements were made to the building and the land appurtenant thereto, with the sole object of getting an enduring ..... on this account were all of capital nature, and the onus was on the assessee to prove the facts necessary to bring him within the allowance under section 10(2) (xv) of the act and the assessee had failed completely to discharge that onus by producing any fact showing the nature and character of these expenses, the sum of rs. 24 .....
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