Court : Mumbai
Decided on : Sep-13-1989
Reported in : (1990)81CTR(Bom)29; [1990]186ITR693(Bom)
..... v. kallor illath raman nambudhri air 1917 mad 358. it concluded that a right to obtain conveyance of immovable property was property as contemplated by section 2(14) of the income-tax act. it held that the amount of rs. 5,00,000 had been received by the assessee as consideration for assigning its rights under the agreement, ..... discussion leads, we think, to the conclusion that the right to obtain a conveyance of immovable property falls within the expression 'property of any kind' used in section 2(14) of the income-tax act and is, consequently, a capital asset.10. the very issue arose before this court in cit v. tata services ltd. : [1980]122itr594(bom) . the ..... his decision before the income-tax appellate tribunal. the tribunal upheld the decision.5. the question posed to us arises out of the tribunal's judgment.section 45 of the income-tax act, 1961, makes any profits or gains arising from the transfer of a capital asset chargeable to income-tax under the head 'capital gains'. a capital .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-14-1989
Reported in : 1989(3)BomCR674; (1989)91BOMLR355
..... this common judgment which is acceptable to both the sides.2. all the petitions raise a common question about the construction of the provisions of section 407 of the bombay municipal corporation act (the act) in the context of the factual structure as to whether the commissioner of the corporation or for that matter even the standing committee is ..... 1969 or 1970, still those cannot be increased on any premise and for any reason whatsoever because of the restrictions as contained in this provision of section 407 of the act and especially by reason of the fact that these stalls are taken in public auction but are not allotted by the corporation through any other mode. ..... shri singhvi, the learned counsel for the respondents, on two counts. the main plank of the argument however is based on the provisions contained in section 401 of the said act along with the terms of the licence that had been issued in favour of the petitioners for running the said stalls and therefore the contention is to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Sep-14-1989
Reported in : (1989)31ITD97(Mum.)
..... that shri parmanand patel joined the partnership with smt. ujjambai on 21-6-1961. there was no clause about the sharing of the assets including goodwill and, therefore, section 48 of the partnership act would apply for the division or share of the assets in the event of dissolution or retirement. shri parmanand patel was sharing the profit at 50%.further, it ..... as a deduction for the assessment year 1970-71 and the claim was allowed by the assessing officer. the commissioner of income-tax, subsequently, took action under section 263 of the income-tax act, 1961 and after issuing a show-cause notice to the assessee and hearing it set aside the assessment and directed the assessing officer to disallow the amount and .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-19-1989
Reported in : (1989)80CTR(Bom)191; [1990]186ITR714(Bom)
..... , he could not be said to be a competent authority to provide information as to law. whatever may be the position under the wealth-tax act, section 250 of the income-tax act makes provision for notice to the income-tax officer and given him the right of being heard in the appeal before the appellate assistant commissioner. the ..... the assessment. the supreme court noted that in a raman and co.'s case : [1968]67itr11(sc) , the court defined the expression 'information' in section 147(b) of the income-tax act as 'instruction or knowledge derived from an external source concerning facts or particulars, or as to law, relating to a matter bearing on the assessment'. having ..... in international law, for in the law of nations the distinction between formal and material sources is difficult to maintain. in that view, therefore, when section 147(b) of the income-tax act is read as referring to 'information' as to law, what is contemplated is information as to the law created by a formal source. it is .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-20-1989
Reported in : 1990(47)ELT352(Bom)
..... knew that the goods were liable for confiscation under rule 173-g of the central excise rules. action was therefore sought under the aforesaid sections of the central excise and salt act, 1944 and the indian penal code.3. the learned magistrate passed an order in the following term on 10-8-1977 :'the complainant ..... were no allegations against him and that the offence was committed by the company as the licensee, since the company by itself could not act. while dealing with the question regarding discharge under section 227, criminal procedure code, it was observed in union of india v. prafulla kumar samal & anr. : 1979crilj154 that where the materials placed before ..... there are several provisions which bear upon the duties of the central excise officers and the central excise officer has been defined under section 2(b) of the central excises and salt act meaning any officers of the central excise department, or any person (including an officer of the state govt.) invested by the central .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-26-1989
Reported in : [1991]70CompCas459(Bom)
..... ledger account' and (c) 'rsa account' (advance against sale of room rights). apparently, these accounts were not yet closed at the time the statutory notice under section 434 of the companies act was issued, and hence, it has been established that, ultimately, there existed a balance due and payable to the petitioners by the company. 22. these facts assume ..... the company has failed to pay to the petitioners their dues which were in excess of rs. 65 lakhs and that a winding-up notice under section 434 of the companies act had been already issued and further legal proceedings would be initiated against the company for other dues. 10. on merits, learned counsel urged that, ..... not only filed the petition on the basis of a disputed debt, but defective, inasmuch as the same was filed even before the statutory notice under section 434 of the companies act was served on the company in its registered office. that apart, the alleged debt was in a running account which was not closed and which .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-29-1989
Reported in : 1990(1)BomCR606
..... any under-taking or institution; and the expressions 'licence', 'licensor', and 'premises given on licence' shall be construed accordingly.'7. the aforesaid provisions of section 5(4a) of the said act of 1947 make it abundantly clear that the permission given for conducting the said pan beedi business in the suit premises does not fall within the definition of ..... the same are beyond the scope of the pleadings and evidence led by the plaintiff respondent. at this juncture i shall refer to the provisions of section 5(4a) of the said act of 1947:'5(4a) 'licensee' in respect of any premises or any part thereof means the person who is in occupation of the premises or ..... that the respondent-plaintiff was introduced in the suit premises by an agreement of conducting, his case does not fall within the definition of 'licensee' under section 5(4a) of the said act of 1947. however, surprisingly enough, the trial judge did not bother to frame any issue in this respect and this error apparent on the face .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-29-1989
Reported in : [1990]181ITR109(Bom)
..... the income-tax appellate tribunal. in a carefully considered judgment, the tribunal upheld the appellate assistant commissioner's order.7. on a plain construction of the proviso to section 2(8), it is not possible to accept the revenue's submission that the capital base has to be increased or decreased depending upon whether the assessee's previous ..... of ten per cent. or, as the case may be, of two hundred thousand rupees shall be increased or decreased proportionately.'4. under the third schedule to the act, surtax is charged at the rate of 25% on so much of the chargeable amount as does not exceed 5% of the amount of capital as computed in ..... the rate specified in its third schedule. 'chargeable profits', for the purpose of the act, mean the total income of an assessee as computed for the purpose of income-tax with certain stated adjustments. 'statutory deduction' is defined by section 2(8) thus :'section 2(8) 'statutory deduction' means an amount equal to ten per cent. of the capital .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Oct-03-1989
Reported in : (1990)32ITD471(Mum.)
..... of anubhai chamanlal javeri and the direct assessment on the trustees made by the ito was not warranted in view of the provisions of the proviso to sub-section (1a)of section 161 of the act. ms. vissanji also argued that for the assessment year 1982-83 assessment of the two beneficiaries, viz. priti d. parekh and ms.urvashi a. javeri ..... not disputed that this is the only trust of its kind. the impugned income is the type of income contemplated in clause (ii) of sub-section (1) of section 164 of the i.t. act being income receivable under the trust bequeathed by a person by a will. therefore, the assessment of such income cannot be made at the maximum ..... the beneficiaries as per their shares. it is argued that the aac failed to appreciate the fact that the assessee-trust is a discretionary trust assessable under section 164 of the i.t. act.5. the learned departmental representative relied on the order of the ito for this and the earlier years whereas ms. aarti vissanji, learned counsel for .....
Tag this Judgment!Court : Mumbai
Decided on : Oct-06-1989
Reported in : 1990(3)BomCR199
..... construction would thus unmistakably shows that it is the zilla parishad party and not the apex party, which is referred to in sub-section (b) of section 3(1) of the disqualification act. we would, therefore, agree with the learned advocate general that the party contemplated in rule 3(1)(b) is the zilla parishad ..... the maharashtra pradesh congress-(i) committee was a valid direction and the contravention thereof exposed the petitioners to the penalty of disqualification envisaged under section 3 of the disqualification act. the collector also found that all the petitioners except the petitioner no. 2, have admitted that they belong to the congress-(i) party ..... issued by the maharashtra pradesh congress committee (1) without obtaining any prior permission and therefore, they made themselves liable to the disqualification under section 3(i) of the disqualification act. it was their case that all the petitioners and others were elected to the zilla parishad on the congress (i) ticket and they .....
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