Court : Mumbai
Reported in : (2000)163CTR(Bom)486; [2000]245ITR677(Bom)
..... of the observations of the supreme court in cloth traders (p.) ltd.'s case : [1979]118itr243(sc) , regarding provisions of other sections contained in chapter vi-a, the finance act inserted section 80ab to clarify that while calculating the deductions in sections 80ab to 80tt, the net income as computed in accordance with the provisions of the ..... the provisions of the act (before making any deduction under chapter vi-a) and not with reference to the gross amount of such dividends. however, in order to preserve the sanctity of the ruling of the supreme court in the case of cloth traders (p.) ltd.'s case : [1979]118itr243(sc) , the finance act made a saving provision ..... that in this appeal we are concerned with the accounting year relevant to the assessment year 1974-75. he contended that by the finance (no. 2) act of 1980, parliament introduced two sections in chapter vi-a, viz., section 80aa and section 80ab. he contended that while section 80aa was deemed to have been inserted with effect .....
Tag this Judgment!Court : Mumbai
Reported in : 2000(3)BomCR727; (2000)2BOMLR519; [2000]245ITR498(Bom)
..... and construct houses. the company obtained a lease of land belonging to the government of maharashtra. after securing possession of the land, the company devised a scheme for raising finances by incorporation of article 4a in its articles of association. under the scheme, the shareholders were to enter into a standard form of agreement with the assessee which conferred on ..... long as the karkhana has not fully repaid the share capital contributed by the state government and/or the loans taken on block capital account from ifci and other central financing institutions, the board of directors will pay the price as fixed by the state government.the rate of cane supplied by the non-members at the gate will be ..... of sales tax to the actual owner of the goods. the assessee did not deposit the amount in the state exchequer as the assessee challenged the validity of the bengal finance (sales tax) act, 1941. it was held by the supreme court that sale by an auction is a sale under the sale of goods .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2001)78ITD51(Mum.)
..... under block assessment, we are of the opinion that the assessee will be entitled to the normal deductions, like, standard deduction in respect of salary income and chapter vi-a deductions from the gross total income. the capital gains, if included in the income assessed in the regular assessment, will also be subject to deductions ..... which were lying with him though transaction between us was not materialised. the abovesaid plots have remained undeveloped as on today also, since i could not raise finance from any one." 12.1 the learned counsel also invited our attention to the relevant portions of the assessee's statement (copy of which is available at ..... with the seized documents before drawing the inference from the entries made in such documents. our attention was also invited to section 110 of the indian evidence act under which the source and mode of acquisition of incriminating evidence may give rise to some presumption against the assessee. reliance was placed by the learned .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Reported in : (2000)(121)ELT502Tri(Mum.)bai
..... was referred as the main promoter epsilon, syntho, gujarat indl. chemical, vapi were mentioned as the associated concerns wherein suratkal family was partners/directors. day today finances of all the units were managed from the office of highland bombay as per the common money receipt book and payment book. wherever s.k. suratkal is a ..... management of the units by s.k.suratkal is without any corroborative evidence who was the full time technical director of mazda chem pvt. ltd. since 1978 and it was impossible for him to supervise the activities of several units situated at different places in different states, supposed to be several units of the ..... concealing, selling or in any other manner dealing with the excisable goods which they knew or had reason to believe were liable for confiscation under central excises & salt act, 1944 and rules framed thereunder. epsilon, syntho, highland, gujarat inds. of vapi availed modvat credit on higher rate than they would have legally entitled to, had .....
Tag this Judgment!Court : Mumbai
Reported in : (2000)68TTJ(Mumbai)220
..... last argument raised by the learned counsel is an important contention raised before us and gives a new dimension to the entire gamut of the provisions of chapter xvii of the act. as per section 191 there is a mandate on the taxing authority to recover tax which is not deducted only from the assessee and not from the ..... v. shahzada nand & sons & ors. : [1966]60itr392(sc) and 1977 ctr (sc) 275 : (1978) 108 itr 345 (supra). in the present case, we are dealing with chapter xvii of the act. the chapter is entitled as 'collection and recovery of taxes'. as the title itself suggests the chapter contains machinery provisions and does not deal with substantive law of creating a charge. it ..... not contain express provision as are contained in section 206c(6), section 179 and section 161(l) of the act. in view of the above discussion, it is clear that tax which is not deducted under chapter xvii cannot be recovered from payer of the income and that such tax has to be recovered from the assessee direct .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2000)74ITD369(Mum.)
..... the last argument raised by the learned counsel is an important contention raised before us and gives a new dimension to the entire gamut of the provisions of chapter xvii of the act. as per s. 191 there is a mandate on the taxing authority to recover tax which is not deducted only from the assessee and not from the payer ..... (sc), cit vs. shahzada nand & sons & ors. (1966) 60 itr 392 (sc) and (1978) 108 itr 345 (sc) (supra). in the present case, we are dealing with chapter xvii of the act. the chapter is entitled as "collection and recovery of taxes". as the title itself suggests the chapter contains machinery provisions and does not deal with substantive law of creating a charge. it ..... . 201 does not contain express provision as are contained in s. 206c(6), s. 179 and s. 161(1) of the act. in view of the above discussion, it is clear that tax which is not deducted under chapter xvii cannot be recovered from payer of the income and that such tax has to be recovered from the assessee direct.15 .....
Tag this Judgment!Court : Mumbai
Reported in : 2000(4)ALLMR510; 2001(1)BomCR261; [2001]247ITR609(Bom)
..... , the appropriate authority could not have taken action under section 276ab of chapter xxii of the income-tax act. it is pointed out by the fifth respondent that, even while this writ petition was pending before this court, the petitioners had moved the finance minister, government of india, requesting him to look into the matter of ..... applied to the state government for a no objection to the transfer of the concerned plot, which was exempted land under the urban land ceiling act exemption order dated july 25, 1978, to the ninth respondent (enjay hotels private limited) on the ground that the sixth respondent was proposed to be amalgamated into the ninth respon-. ..... restrictions and conditions which were indicated in the order.9. the order of exemption under the urban land (ceiling and regulation) act was challenged by the petitioners by misc. petition no. 1406 of 1978, inter alia, on the ground that it was contrary to the state government's directives to fully reserve the suit plot for .....
Tag this Judgment!Court : Mumbai
Reported in : [2001]79ITD14(Mum)
..... made. therefore, the assessee was an industrial company and entitled to concessional rate of tax in accordance with the provisions of the act.(c) addl. cit v. a. mukherjee & co. (p.) ltd. : [1978]113itr718(cal) the assessee in this case was a publisher of books. the assessees job was to get the manuscript for publication, ..... the same has not been defined in the section, and, therefore, guidance has to be taken from the meaning given in the different sections of the income tax act and the meaning of 'industrial undertaking' as understood in common parlance has to be considered. as per explanation to section 33b, 'industrial undertaking' means any undertaking ..... profit motive in such adventure. that means he is carrying on a business activity which attracts the investment allowance under section 32a of the income tax act. any venture or enterprise which a person individually or collectively undertakes to do and which has some industrial consequences would be an industrial undertaking. it must .....
Tag this Judgment!Court : Mumbai
Reported in : (2000)163CTR(Bom)432
..... income which is disclosed in the income-tax returns has only to be considered as per provisions of section 158bb(1) of the act.'chapter xiv-b of the income tax act, essentially proceeds on the basis that where an investment is made by an assessee which is unexplained, then the department is entitled to invoke the block assessment procedure. ..... income of the assessee as undisclosed income. the above basis clearly shows that the department has not understood the scope of chapter xiv-b of the income tax act, by no stretch of imagination, the impugned addition fell within chapter xiv-b. there would be no finality if the department is permitted to add back to the income of the ..... in this appeal is whether the tribunal was right in limiting the scope of determination of undisclosed income under chapter xiv-b of the income tax act, 1961, to the material found during the course of search under section 132 of the act.2. the brief facts giving raise to this appeal are as follows:on 28-9-1995, the .....
Tag this Judgment!Court : Mumbai
Reported in : [2000]246ITR429(Bom)
..... domestic company, 'gross total income' has been defined under section 80b(5) to mean the income computed in accordance with the provisions of the act, before making any deduction under chapter via. hence, the supreme court held that income by way of dividends from a domestic company included in the gross total income, would be income ..... computed with reference to sections 28 to 44d. in the circumstances, the judgment of the supreme court in the case of cambay electric supply industrial co. ltd. v. cit : [1978]113itr84(sc) , has no application to the facts of the present case. in the case of distributors (baroda) p. ltd. v. union of india : [1985]155itr120(sc ..... 1997]225itr29(ker) . mr. desai has placed reliance on the judgment of the supreme court in the case of cambay electric supply industrial co. ltd. v. cit : [1978]113itr84(sc) . in that matter, the apex court was required to construe the expression 'profits and gains of business' as computed in accordance with the other provisions of the .....
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