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Fluid Air (India) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)63ITD182(Mum.)

..... as under. the assessee had disbursed the salary and wages to its employees for every month on 7th of succeeding month by virtue of the provisions of section 5 of the wages act and the details of amounts and dates of payment are as under :---------------------------------------------------------------- month efpf epf admn. insurance charges fund 1. 2. 3. 4. 5 ..... ground that they maintained accounts on mercantile or accrual basis. at the same time, the liabilities were disputed and they did not discharge the liabilities. section 43b of the act was inserted to provide that deduction for any sum payable by the assessee by way of tax or duty under any law or any sum payable by ..... taxes, duties, etc, even if they were paid after the end of the previous year but before the due date for furnishing of return under section 139(1) of the act. the second proviso also introduced along with the first proviso with effect from 1-4-1988 is to the effect that unless the payment in respect .....

Linde A.G. Vs. Income Tax Officer (Also Ito V.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)62ITD330(Mum.)

..... delhi high court in the case of j.k. (bombay) ltd. vs. cbdt & anr.(1979) 118 itr 312 (del). this was a case under section 80-o of the act, wherein also the deduction is available on rendering of technical services. the court held that technical services under s. 80-o would not include commercial services or ..... and fees for technical services as provided in agreement for avoidance of double taxation between india and federal republic of germany will prevail over the definition provided in the act and the income derived from ammonia service agreement dt. 10th may, 1977, methanol agreement dt. 30th september, 1977 and methanol service agreement dt. 24th november, 1983 ..... high court (1991) 190 itr 626 (cal) (supra) and the board circular (supra), the provisions of the treaty are to prevail over the provisions contained in the it act. the ground is accordingly rejected.16. the second common ground in these three appeals of the revenue is to be decided against the revenue in view of the discussion .....

Bayer (India) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)61ITD380(Mum.)

..... the assessee's own flats and the flats taken by it on lease and used by its employees for residence is to be considered for disallowance under section 40a(5) of the income-tax act, 1961. they followed the decision of the kerala high court in, cit v. forbes, ewart figgis (p.) ltd. [1982] 138 itr 1/[1981] 7 taxman 32 ( ..... at such a conclusion.at page 650, a part of the head-note would give the ratio of the decision as follows :- "the ceiling provided in section 40(a)(v) of the income-tax act, 1961, applies even to expenditure in relation to an employee using the assets of the assessee-employer for his own purpose or benefit (contemplated by the ..... allowed. in order to disallow an expenditure incurred by a company in the provision of any benefit, amenity or perquisite to an employee under the provisions of section 40(c)(iii) of the income-tax act, 1961, it is not necessary that the value of the perquisite or amenity in the hands of the employees computed in accordance with the relevant rules .....

Ramchandra D. Thakur (Huf) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)61ITD279(Mum.)

..... pune, dated 9-10-1995 confirming the concealment penalty of rs. 24,570 for assessment year 1989-90 and rs. 19,895 for assessment year 1990-91 under section 271(1)(c) of the it act. the facts necessary for disposal of these two appeals are briefly stated as follows.2. the assessee is a huf. r.d. thakur (assessee-huf), s. ..... cannot be got rid of by merely filing a revised return. if the omission is deliberate then in respect of the original return the provisions of section 28(1)(c) of the indian income-tax act apply, and the assessee may be subjected to a penalty. the penalty is attracted notwithstanding the fact that the return has been subsequently corrected. ..... in 178 itr 430, whereby the high court rejected the assessee's reference application on the question whether penalty was rightly imposed on the assessee under section 271(1)(c) of the income-tax act, 1961, when the assessee filed a revised return disclosing an income of rs. 2,50,000 after inquiries were made by the officer asking the .....

Pond'S (India) Limited Vs. Dputy Commissioner Of Income-Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)64ITD33(Mum.)

..... deduction claimed under s. 80hhc. the revenue authorities have added the following amounts to the figure of "total turnover" for the purpose of computation of deduction under the said section : (i) excise duty 5,80,11,331 (ii) sales tax 96,79,522 31. assailing the findings of the revenue authorities, the learned counsel for the ..... reads as under : "'total turnover' shall not include freight or insurance attributable to the transport of the goods or merchandise beyond the customs station as defined in the customs act, 1962 (52 of 1962) : provided that in relation to any assessment year commencing on or after the 1st day of april, 1991, the expression 'total turnover' ..... force in what has been contended on behalf of the revenue. the assessment year involved is 1992-93. the expression "total turnover" has been defined in the act. applying the ratio of the decision cited on behalf of the revenue and taking into consideration the definition of the term 'turnover', which is not ambiguous, we have .....

S. Pal and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)61ITD15(Mum.)

..... is absent. he, therefore, submitted that the income earned by the assessee is income in the course of carrying on the business and not taxable under section 115bb of the act.14. on the other hand, the ld. departmental representative submitted that the assessee has purchased the tickets from the directorate of lotteries and from out of ..... 12. aggrieved, the assessee contended before the first appellate authority that the prize money of rs. 10,46,000 from unsold stock cannot be taxed under section 115bb of the act, inasmuch as, the said income is earned in the course of carrying on its business as a sole-selling agent and the tickets were not purchased ..... assessing officer was of the opinion that the income earned by the assessee against the unsold lottery tickets should be treated as lottery income and taxable under section 115bb of the it act, 1961. it was also observed that similar receipts from prize money were claimed by the assessee as lottery income in all the preceding previous years and .....

Homi Mehta and Sons (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... we are unable to agree that there is any mistake apparent from the record, which needs rectification. it is well settled that the power of rectification under section 254(2) of the act can be exercised only when the mistake, which is sought to be rectified, is an obvious and patent mistake, which is apparent from the record, and not ..... one of the possible view which the tribunal has consciously not followed and as such the decision of the tribunal cannot be in reviewed in the proceedings under section 254(2) of the act. thereafter, the assessee had filed another application, which was registered as m.a.no. 226 of 1995, which was dismissed on 2nd april, 1996. in this ..... brief facts giving rise to the present application are that one of the issues raised in the appeal was with regard to the disallowance made under section 40a(8) of the income-tax act. it was the case of the assessee that even if disallowance is required to be made, then the amount of interest which is periodically credited to .....

income-tax Officer Vs. Srichand Hariram

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the following grievance. "on the facts and in the circumstances of the case and in law the learned dy. cit(a) erred in allowing deduction claimed under section 80hhc of the income-tax act on the exporting of agricultural primary commodities." 3. we have heard the rival submissions in the light of the material placed before us and the precedents relied upon ..... arabic countries during assessment year 1983-84. i would like to know whether my clients are justified in claiming deduction under section 80hhc on export of mangoes, apples and grapes. reply - section 80hhc as inserted in the income-tax act by the finance act, 1983 with effect from 1-1-1983 is not applicable to the export of agricultural primary commodities but not the .....

Computility Computer Systems Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)60ITD256(Mum.)

..... element of recklessness to ruse. if neither is present, legal advice honestly sought and actually given, must be treated as sufficient cause when an application under section 5 of the act is being considered." "a company relied on its legal adviser and the manager's expertise is in company management and not in law. there is ..... assessment year 1983-84.2. the first appeal is filed against the orders of the cit, city-iii, mumbai, dated 19-3-1987 passed under section 263 of the income-tax act, under which he had set aside the assessment originally framed by the ito and directed the ito to re-do the assessment with the following directions ..... that the scope of the 263 order is so unequivocal that even a laymen cannot have any misapprehension about it. we have already extracted the ultimate order under section 263 and the directions given thereunder to the assessing officer. it is clearly stated in the said order directing a fresh assessment without giving investment allowance. therefore, .....

Ninth Income-tax Officer Vs. Smt. S. J. Framji

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1982)1ITD390(Mum.)

..... laws against transfer of interest of a member in the property belonging to the society. the only transfer which is void under the act is one made in contravention of sub-section (2) of section 47 [see section 47(3) 0]. we have not been able to find any other provision anywhere to the same effect. in the scheme of ..... liable to tax on capital gains, but we are only concerned with the claim of the assessee that she is entitled to deduction under section 80t (b) (ii) of the income-tax act, 1961 ("the act") at 40 per cent on the basis that what was transferred by the assessee is neither lands and buildings nor any rights therein. ..... conspectus of various provisions mentioned in the above enactments coupled with the relevant provisions of the income-tax act. such as, section 2(14), defining "capital asset", section 2(47), defining "transfer", section 45, dealing with levy of tax on capital gains and finally section 80t, his main argument, as we have understood, is that the assessee, being a member .....