Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Dec-14-1989
Reported in : (1990)32ITD645(Mum.)
..... in cit v. oricon (p.) ltd. [1989] 176 itr 407 in claim of investment allowance upheld in the case of the assessee engaged in construction activity, as the relevant finance act referred to manufacture or production of an article or a thing not excepted in the eleventh schedule in the assessee's own case where the court had held that the ..... claim of investment allowance. this is because the provisions governing the grant of investment allowance as contained in section 32a of the i.t. act cannot be regarded as in pari materia with the definition of industrial company as available in the annual finance act. investment allowance is available to an assessee in regard to the cost of assets used in an industrial ..... 1. this is a departmental appeal against the order of the cit(a) granting investment allowance under section 32a of the i.t. act to the assessee. it is contended on behalf of the department that the findings of the cit(a) are not correct. it is an admitted fact that the assessee is .....
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 : 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 : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Sep-12-1989
Reported in : (1989)31ITD482(Mum.)
..... that the publicity expenditure incurred by the distributors can never be treated as the expenditure incurred by the assessee and that too for the purposes of section 37(3a) of the act. thereafter, he invited our attention to the relevant portion of rule 9a which provides for "deduction in respect of expenditure on production of feature film ..... only the expenditure incurred after the issuance of the certificate by the censor board could at best be considered for the applicability of the provisions of section 37(3a) of the act. he further stated that these arguments will be equally applicable in respect of the expenditure aggregating to rs. 9,07,472 incurred in respect of ..... were justified in considering the publicity expenditure incurred by the distributors in the hands of the assessee for the purposes of working out disallowance under section 37(3a) of the act.however, we are in full agreement with the stand taken up by the assessee that in view of the specific provisions contained in rule 9a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Aug-30-1989
Reported in : (1989)31ITD359(Mum.)
..... force with effect from 17-2-1976 and the reserve bank of india asked the trustees to apply the govt. of maharashtra and obtained exemption under section 20 of the said act.the govt. of maharashtra rejected the application for exemption made by the trustees by an order dated 1-1,1-77. in the meantime, by ..... valuable piece of land belonging to the estate had remained undistributed and therefore the assessments in respect of the land could only be made under section 19a of the wealth-tax act and not under section 21. since the executors of the estate had not completed the distribution of the land, they were liable to be taxed. the wto ..... estate had not been completely distributed. it was not divided between the beneficiaries on the relevant valuation date and, therefore, the provisions of section 19a(5) of the wealth-tax act were clearly applicable. section 19a(5) specifically provided for separate assessment in respect of net wealth on each valuation date as is included in the property from .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Jul-28-1989
Reported in : (1989)31ITD209(Mum.)
..... years. the appellant replied that a barge should be considered as a ship in view of the definition given in the general clauses act, 1897. according to sub-section 55 of section 3 of that act a ship includes every description of vessel used in navigation not exclusively propelled by oars. 7. i am unable to agree with the ..... rate of development rebate would be allowable on "pontoon" and "trawlers" respectively. however in the instant case we are concerned with the deduction contemplated under section 80j of the act.9. we have carefully considered the rival submissions of the parties and various statutory/dictionary meanings of the word "ship" as well as gone through the ..... learned representative for the assessee strongly argued that the cit (a) was not justified in withdrawing the deduction already granted by the i.t.o. under section 80j of the act in respect of the barges owned by the assessee. in this connection, he stated before us the nature of business carried on by the assessee (already .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Feb-10-1989
Reported in : (1989)31ITD142(Mum.)
..... arise on the agent of the non-resident. the salary and remuneration payable to the technicians of the assessee were not taxable as exemption certificates under section 10 of the act had been obtained.5. the cit (appeals) considered these arguments, carefully went through the clauses of the various agreements, particularly the sindri modernisation project ..... a portion of such payment was to be treated as payment for grant of licence or for royalty, the provisions of explanation 2 to section 9(1)(vi) of the act were attracted. all the activities concerning erection as well as rendering of technical services were going on simultaneously and not alternatively and therefore shri ..... assessment year under consideration, he held that the payments received during the previous year would be in the nature of technical assistance fees falling under section 9(1)(vii)of the act.11. since in the course of the hearing it appeared to us that the reasoning given by the cit (appeals) was not quite correct .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Jan-12-1989
Reported in : (1989)31ITD369(Mum.)
..... help to the assessee, as in those cases the attention of the hon'ble courts was not drawn to the scheme and ambit of various sections of the 1961 act like self-assessment (section 140a), assessment for refund (section 141a) as well as the fact that the advance tax and the tax deducted at source, whereunder the authority of law passed by the ..... ramnarayan (supra) would not be of much help to the assessee, as in that case the hon'ble high court was concerned with the provisions of section 240 and not of section 237 of the act.21. before we part with this issue, we would like to give a small illustration which would clearly demonstrate that if we were to accept the ..... being time barred", the income-tax authorities ought to have refunded the entire amount of rs. 1,15,967 as claimed by the assessee. inviting our attention to section 237 of the act, the learned representative for the assessee urged that since the assessee was not given the entire refund of tax paid by it, it was entitled to file an .....
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