Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)4ITD409(Mum.)
..... on the facts of the case does not help the assessee.48. having held that the assessee is not entitled to exemption either under section 10(22) or section 11 of the act, the question arises as to the computation of the total income of the assessee. an important point contested in this connection in the assessee ..... above claim of the assessee in the final assessment made.7. on appeal, the commissioner (appeals) rejected the assessee's claim for exemption under section 10(22) and section 11 of the act. during the year of account, the dominant object of the trust could not be said to be running an educational institution solely for educational purposes ..... conceived, involved the making of profit by a business--like activity in the publication and sale of books, magazines, tapes, etc., it was excluded by section 2(75) of the act, from being a trust for charitable purposes. the commissioner (appeals) also held, considering the several clauses of the trust deed, that during the assessment years .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)4ITD453(Mum.)
..... any impact on the incidence of taxation, so far as his individual assessment was concerned. on the above basis the tribunal negatived the application of section 64(2) of the income-tax act, 1961 ('the act'), as claimed by the assessee with regard to the income of the individual properties stated to be thrown into the common hotchpotch. for the ..... of the property by the individual to the trust for the benefit of the named beneficiaries.even this would not attract the provisions, in our opinion, of section 64. the provisions of the trust deed as to distribution have been quoted above. the only purpose for which during the currency of the trust amounts could be ..... even a little. the fact, therefore, has to be accepted that after the trust was created, these assets stood transferred to the trust.10. the question is whether section 64 would be applicable to the case and if so to what extent. in view of the foregoing, perhaps it cannot be contested that there was an indirect transfer .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)4ITD320(Mum.)
..... asset. apart from this allowance of depreciation, it is also open for an assessee to have the balancing charges allowed to him under section 32(1)(iii) of the act. whereas to be allowed depreciation under section 32(1), the assessee has to bring his case within the income-tax rules and the schedules, in respect of the terminal allowance ..... under section 32(1)(iii), it is not necessary.this section allows the assessee a deduction of the difference in value between the cost or the ..... 2 year period, as far as the assessee is concerned, it had written it off as of no [further value.this would amount to discarding within the meaning of section 32(1)(iii). so, the assessee will be entitled to claim the deduction in the second year.13. for these reasons, we will uphold the order of the commissioner .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)5ITD612(Mum.)
..... to disallowance of surtax liabilities claimed as the revenue expenditure for the purpose of the assessee's business and the non-grant of relief under section 35b of the income-tax act, 1961 ('the act').2. the point relating to the allowance of surtax liability is covered by the decision of the tribunal in the case of amar dye-chem ..... . ltd. v.ito [1983] 3 sot 384 (bom.) (sb) against the assessee.3. the assessee claimed weighted deduction under section 35b of rs. 29,09,639 ..... foreign buyers and also guaranteeing payment in respect of goods sold and services rendered to foreign buyers on credit. the expenses, in respect of which the relief under section 35b was claimed, were incurred by the assessee wholly, necessarily and exclusively for the promotion of the export of goods and services outside india. reference was made in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)4ITD654(Mum.)
..... is, undoubtedly, in america. sale also is effected there. so, it is difficult to say that any income accrues or arises under section 5 of the act. so, we necessarily have to turn to section 9 of the act. under section 9, the first point we should consider is whether there is any business connection in india. it has been urged that there is ..... usa.17. the prima facie impression created by the agreement of 1931 is that it resembles a selling agency, which is not normally considered as an agency under section 182 of the contract act. in h. prudhomme & co. v.hamel8c hardly ltd. air 1925 cal. 161, the privy council observed: in many trades--particularly the motor trade--the so-called ..... 1. these two appeals are by the assessee, a non-resident company, against the order under section 263 of the income-tax act, 1961 ('the act'), by the commissioner in respect of the assessment years 1975-76 and 1976-77. in these orders, the commissioner had directed the ito to ascertain whether any income arises .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD343(Mum.)
..... ended on 31-3-1975.2. the only ground taken in this appeal states that the commissioner (appeals) erred in allowing the deduction under section 80g of the income-tax act, 1961 ('the act'), on a donation made in kind.3. the assessee is a limited company. during the previous year under consideration, it made a donation of ..... the premises situated at no. 53, sir hariram goenka street, calcutta. the value of the premises was admittedly rs. 44,124. the ito refused to allow the deduction under section ..... that the donation need not have come out of income assessed during the relevant assessment year. under the circumstances, he directed the ito to allow the relief under section 80g after proper verification.5. shri d.r. chawla, the learned representative for the department, urged that the learned commissioner (appeals) erred in his decision. he .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD677(Mum.)
..... in clause (a) 'for the purposes of business of construction, manufacture or production'. a similar expression is also found in connection with the investment allowance under section 32a of the act. sub-section (2), clause (b), sub-clause (iii) uses identical expressions. the words 'construction' and 'manufacture' find a place there. in the definition of ..... findings of the commissioner (appeals) that the assessee, a registered firm, engaged in construction of buildings is eligible for deduction under section 80j of the income-tax act, 1961 ('the act').2. the assessee is a firm constituted under a deed of partnership dated 24-4-1974. the partnership business is constructing ..... incorrect conclusion. (pp. 379-80) 16. the bombay high court had before them a case of interpretation of an 'industrial company' under section 2(7)(d) of the finance act, 1966.there were expressions 'construction' and 'manufacture' in the provision to be construed. the high court has pointed out that the legislature .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)2ITD618(Mum.)
..... the net balance. another claim of the assessee before the ito was that weighted deduction under section 35b of the income-tax act, 1961 ('the act') should be allowed on expenses incurred abroad and which fell within various clauses of section 35b.the ito rejected the claim of the assessee on the ground that the assessee was ..... engaged in a profession and not in a business and so the assessee was not entitled to the relief under section 35b ..... merely because intangible services could not be physically transferred. if the arguments of the department were accepted as correct, then the reference to services and facilities in section 35b would become redundant. 'export' means to carry or sent goods beyond the national boundary, i.e., to a foreign country-chambers twentieth century dictionary. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)2ITD631(Mum.)
..... which was responsible for the illegal recovery was when the supreme court pronounced its judgment and that such a plea would have been competent under section 22b of the sales tax act. section 22b gave power to the prescribed authority to extend the period of limitation if it is satisfied that the party applying for such extension had ..... record showed that year after year the assessee has been returning agricultural income and claiming exemption on the same. the records also indicated that the provisions of section 54b of the act were applied for that very year, the ito's order referring to the investment in a portion of the land. the learned counsel has referred to ..... sufficient cause for not preferring the appeal or making the application within such period. section 23 a of the sales tax act provided for rectification of the mistake. the facts of the case indicate that this was a clear case of a mistaken payment, the supreme .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD244(Mum.)
..... the rule merely directs that tax should be deducted at source. it nowhere declares that it represents income. in this, the provisions of the 1961 act are different from the 1922 act where section 58s provided for such a deeming charge, as shri khare pointed out.20. so, we come to a finding that these payments do not represent ..... under the 1922 act.according to him, under that act section 58s had itself created a charge on such payments. under the 1961 act, there is no charge created by the statute. it is true that as per rule 6, tax ought to ..... have the characteristic of income. he submitted that this is not treated as income under the definition clause in section 2(24) of the act. he agreed, however, that the payment is not covered by section 10(13) of the act which gives exemption in respect of certain payments made out of superannuation fund. he further distinguished the case law .....
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