Court : Mumbai
Decided on : Dec-22-1994
Reported in : [1996]217ITR622(Bom); 1995(2)MhLj413
..... fire doors and fire proofing and other decorative items. in their assessments to corporation tax, they claimed that this expenditure qualified for capital allowance under section 41 of the finance act, 1971, as plant used in the carrying on of their respective trades. the special commissioners disallowed the claims in respect of shop fronts, floors and ..... [1982] 55 tc 188 , the controversy was whether lighting and other apparatus installed in shop premises qualified as 'plant' within the meaning of sections 40 and 41 of the finance act, 1971. the revenue held it not to be plant. on the above decision being affirmed by the chancery division, the company appealed to the ..... as also of counsel for the revenue who supports the order of the tribunal. the expression 'plant' has been defined in clause (3) of section 43 of the act to include 'ships, vehicles, books, scientific apparatus and surgical equipment used for the purposes of the business or profession'. obviously, it is an inclusive .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-21-1994
Reported in : 1996(5)BomCR191
..... the payment thereof, may deduct the amount so payable from any money owing to the person from whom such sums may be recoverable or are due. then section 6 of the act provides that no person shall engage in the production or manufacture of any dutiable goods or any specific component parts or ingredients thereof or of specified container of ..... took place on the floor of the legislative assembly of goa.7. at the outset, it is required to be noted that in their statutory appeals through the secretary (finance), the respondents have also challenged that part of the order of the excise commissioner holding that the issue of classification of goods needs to be referred to the central government ..... the meaning of rule 11, for a period of six months prior to the issue of the notice.5. against the said order dated november 7, 1991, the secretary (finance) has filed appeals under rule 127 of the rules to the government of goa, being appeal nos. 1 of 1991 and 2 of 1991. the said appeals are pending .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-20-1994
Reported in : 1996(3)BomCR140
..... to the interview held for that purpose by the selection committee on 26th october, 1993.2. the case of the petitioner is that the post of finance officer is provided in the goa university act, 1984 and section 46.3 of the goa university statutes prescribes the manner of its appointment. according to that statute 46.3 the ..... accountant general at nagpur as auditor in december, 1959. he was on deputation to goa in the directorate of accounts from 1963 to 1968. on passing s.a.s. examination he was promoted as section officer in 1970 and then as audit officer in the scale of rs. 2375-3500 in november, 1993 and further as senior audit ..... bad, still it is difficult to accept that a writ of mandamus would lie against respondent no. 1 to select and appoint the petitioner to the post of finance officer of the university after securing the competent relaxation from the visitor of the university regarding his educational qualifications which admittedly were not according to the eligibility rules.12 .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-19-1994
Reported in : [1995]216ITR199(Bom)
..... is placed before the specified date and that it is immaterial as to who placed the order-the assesses or its predecessor-in-interest. section 16(c) of the finance act clearly requires that the benefit of continuance of development rebate would be available only if the assesses furnishes evidence to the satisfaction of the ..... of the above contract, the machinery was purchased by it and installed in its business. according to the assesses, the expression 'assesses' appearing in section 16(c) of the finance act, 1974, includes the predecessor-in-business of the assesses. on the other hand, the contention of the revenue before the tribunal was that the assesses ..... of the assesses and, being of the opinion that the assesses-company was not entitled to development rebate in view of section 16(c) of the finance act, 1974, initiated proceedings under section 263 of the act and after hearing the assesses, passed an order directing the income-tax officer to withdraw the development rebate of rs. 1 .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-16-1994
Reported in : 1996(4)BomCR39
..... 47/81 and the order passed in misc. application dated 17-11-1982 filed by respondent no. 3 under section 32 of the goa, daman and diu buildings (lease, rent and eviction), control act, 1968 (hereinafter referred to as the act) and also the order passed by the rent controller dated 27-4-1981.2. the respondent no. 3 are ..... it is better to closely examine the relevant provisions of the act, namely, the goa, daman and diu buildings (lease, rent and eviction) control act, 1968. though many provisions of this act are almost common in nature as we find in other rent control acts in other states, section 32 has been enacted probably because of the historical background of ..... the administrative tribunal which dismissed the appeal. during the pendency of the matter before the administrative tribunal the respondent no. 3 has again filed applications invoking section 32(4) of the act. he filed five such applications on 31-10-1981, 16-1-1982, 4-9-1982, 17-11-1982 and 25-7-1986. though these applications .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-13-1994
Reported in : 1996(3)BomCR105; (1995)97BOMLR474
..... they should at least have been granted an opportunity of being heard against the said arbitrary increase.11. the petitioners have also challenged vires of section 13-a of the act, as according to them, it arbitrarily and irrationally discriminates against the petitioners insofar as it restricts the games of electronic amusement/ slot machines to ..... 200 machines could be installled and operated, the petitioners worked out their economics and projections and only then applied for a licence. they had already committed substantial finances toward the project, including the licence fee to the government. the licence granted by the government to the petitioners is for a term of five years. ..... they have received the importer-exporter code, which is a pre-requisite for import of the appropriate machines and they have also made arrangements for the finances for the import of the said machines. the petitioners have stated that there are six five star hotels in the entire state of goa and that they .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-12-1994
Reported in : [1995]215ITR454(Bom)
..... was fulfilled, the right to annuity was excluded from the definition of asset. this exclusion was subjected to a further condition with effect from april 1, 1975, by the finance act, 1974, that it is not an annuity purchased by the assessee or purchased by any other person in pursuance of a contract with the assessee. thus, for the assessment ..... years 1975-76 to 1992-93, any annuity whether commutable into lump sum or not, formed part of the 'assets' of an assessee within the meaning of section 2(e) of the act, if such annuity 'was purchased by the assessee or purchased by any other person in pursuance of a contract with the assessee'. in the instant case, there ..... is that predetermined amounts were payable to the assessee periodically in the stipulated years which, therefore, amounts to annuity. in that view of the matter, it is clear that section 2(e) is attracted and the value of the right of the assessee to receive the annuities in future in such a case is includible in his net wealth. .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-08-1994
Reported in : [1995]215ITR229(Bom)
..... clear that the amount of profits and gains derived from exports with reference to which deduction of tax is admissible under clause (i) of sub-section (5) of section 2 of the finance act, 1963 (referred to as the 'qualifying income'), has to be computed in accordance with the provisions contains contained therein. in that view of the ..... on the computation of profits and gains derived by the assessee from the exports for the purpose of allowability of deduction of tax admissible under section 2(5)(i) of the finance act, 1963. the income-tax officer was, therefore, bound to compute the amount of profits and gains derived from such exports strictly in accordance ..... commissioner and dismissed the appeal of the revenue. while doing so, the tribunal observed that the assessee was entitled to export profit rebate as provided in section 2(5)(i) of the finance act, 1963, on export profits determined in the manner laid down in rule 2(3) of the income-tax (determination of export profits) rules, .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-07-1994
Reported in : (1995)125CTR(Bom)461; [1995]213ITR1(Bom)
..... e. h. nizam's family (remainder wealth) trust : [1977]108itr555(sc) . this position has undergone some change with the insertion of sub-section (4a) in section 21 of the act by the finance act of 1981 with effect from april 1, 1981. but we are not concerned with the same as the controversy in this reference pertains to the pre ..... respect of the net wealth of companies was, however, discontinued for and from the assessment year 1960-61 (vide section 13 of the finance act, 1960). 8. section 21 of the act provides for assessment of the trustees of a trust. this section, as it stood at the material time, reads as follows : '21. assessment when assets are held by ..... the matter came up for consideration before this court in abhay l. khatau v. cwt : [1965]57itr202(bom) and trustees of gordhandas govindram family charity trust v. cit : [1968]70itr600(bom) , and the calcutta high court in suhashini karuri v. wto : [1962]46itr953(cal) , where it was held that 'joint trustees' could be regarded as .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-07-1994
Reported in : (1995)126CTR(Bom)62; [1996]217ITR537(Bom)
..... ). (ii) levy of wealth-tax was discontinued in respect of the net wealth of companies for and from the assessment year 1960-61, (see section 13 of the finance act, 1960). consequently, wealth-tax is now leviable only in respect of the net wealth of individuals and hindu undivided families. (iii) net wealth, for the purpose of ..... value) specified in the proviso to clause (iv) of section 5(1) of the act. 10. this is the summary of the relevant provisions of the act having a bearing on the determination of the controversy in this case. this provision has undergone a radical change with the amendments made by the finance act, 1992, which came into effect from april 1, 1993 ..... net wealth of the firm or association. sub-rule (3) prescribes the manner of determination of the interest of the assessee in assets referred to in section 5(2) of the act, if the wealth of the firm or association includes any such asset. these provisions are clear indications that the value of interest of a partner or a .....
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