Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Reported in : (2001)(129)ELT207Tri(Mum.)bai
..... classification of the goods being manufactured. non-disclosure or suppression of full facts either of the product requiring classification under a chapter heading for charging duty will tantamount to positive act rather than mere in acting and hence will make the extended period applicable. filing of rt-12s and classification lists will not come to their rescue ..... the product literature the indications were available that the product merited classification as cosmetic preparations. he disposed of the plea on limitation in the following words :- "the chapter heading as mentioned is 3303.04 and exemption has been claimed under notification no. 167/86, dt. 01-03-1986. in none of these classification lists total ..... in imposition of penalty. as for the demand under rule 9(2) is concerned the judgment of the supreme court in the case of n.b. sanjana -1978 (2) e.l.t. j399 still holds the field. it is held that where the goods are cleared surreptitiously, the demand under this rule could sustain but .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(2)ALLMR314; (2001)165CTR(Bom)518; [2001]248ITR29(Bom)
..... in mind that section 80-i was a dead section during the period 1.4.1973 upto 1.4.1981. section 80-i was brought back into the income tax act by finance act, 1980 with effect from 1.4.1981. under section 80-i, as inserted with effect from 1.4.1981, it was provided that where the gross total income ..... gross total income of the assessee. section 80-b(5) defines 'gross total income' to mean total income computed in accordance with the provisions of the act, before making any deductions under chapter vi-a. section 80-hh falls under heading c which deals with deductions in respect of certain incomes. section 80-hh comes under this category. it lays ..... shall have effect as if for the words 'fourth assessment year', the words, 'sixth assessment year' had been substituted.' 6. section 80-hh falls in chapter vi-a of the income tax act. chapter vi-a deals with deductions in respect of certain payments. section 80a lays down that in computing the total income of an assessee, there shall be allowed .....
Tag this Judgment!Court : Mumbai
Reported in : [2002]253ITR534(Bom)
..... to be completed within a period of one year from the date of the execution of the last of the authorisations of search. by an amendment madeby the finance (no. 2) act, 1998, it has been further clarified that the last date of the execution of the search would be reckoned from the date of the last of the panchanamas ..... and execution is complete. for this proposition, the income-tax appellate tribunal bench, pune, took support of the decision of the bangalore bench in the case of kirloskar investments and finance ltd. v. asst. cit [1998] 67 itd 504. in the present case at hand, the cupboard in which 45 kgs. of silver articles were kept was sealed by ..... period from april 1, 1986, to october 18, 1996. a few facts which are required to be stated are as follows :a search under section 132 of the income-tax act, 1961, was conducted at the residential premises of the assessee at 'thirtharupa', aquem, margao, goa, from october, 1996, onwards. during the search operation, certain valuables were found .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)70TTJ(Mumbai)991
..... counsel referred to para 40.1 of explanatory notes of circular of cbdt no. 636, 31-8-1992 ( (1992) 107 ctr 11, and stated that the finance act had amended section 80hhc in order to provide that where the export or trading house disclaims the tax concession in favour of the support manufacturer, the concession to the ..... relying upon cit v. canara workshops (p) ltd. (1986) 58 ctr (sc) 108 : (1987) 161 itr 320 , the learned departmental representative further stated that chapter vi-a has undergone a thorough change when sections 80hh and 80ab were introduced with effect from 1-4-1968. it was stated that in the assessees case, it is ..... ) is a negative one, no deduction is allowable under section 80hhc(1). the learned departmental representative further referred to section 80ab and contended that no deduction under chapter vi-a is admissible (including deduction under section 80hhc if gross total income results in a loss. in this regard, the learned departmental representative relied upon decision .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2002)81ITD422(Mum.)
..... that case.10.4 the learned counsel referred to para 40.1 of explanatory notes of circular of cbdt no. 636 dated 31 -8 -1992 and stated that the finance act had amended section 80hhc in order to provide that where the export of trading house disclaims the tax concession in favour of the support manufacturer, the concession to the ..... is a negative profit and it cannot be ignored. relying upon cit v. canara workshops (p.) ltd. [1986] 161 itr 320 (sc), the learned dr further stated that chapter via has undergone a thorough change when sections 80hh and 80ab were introduced with effect from 1-4-1968. it was stated that in the assessee's case, it is ..... under section 80hhc(3) is a negative one, no deduction is allowable under section 80hhc(1).the learned dr further referred to section 80ab and contended that no deduction under chapter vi a is admissible (including deduction under section 80hhc) if gross total income results in a loss. in this regard, the learned dr relied upon decision of kerala .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(3)ALLMR108; (2001)166CTR(Bom)7; [2001]249ITR265(Bom)
..... if situated in a village. profits arising from the transfer of a motor car used for personal purposes would result in a revenue income. that, even after the finance act, 1994, consideration arising from the transfer of tenancy in cases where the tenant had no right to sublet, would be chargeable to tax as revenue income. he ..... any concession. in this connection, he placed reliance on the central board of direct taxes circular which clarified that in order to overcome the judicial interpretation the finance act, 1987, had provided in section 55(2)(a) that cost of acquisition in the case of goodwill will be taken as nil. he contended that the ..... agreements, the assessee became tenants/lessees of elphinston dye works private ltd. the leases were for 15 years. they were monthly leases. they expired on october 25, 1978. they were not renewed. the assessee continued to occupy the premises. in the meantime, elphinston dye works private limited sold the property to prabhadevi trading company private .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)166CTR(Bom)96; [2001]249ITR597(Bom)
..... appearing on behalf of the department, contended that section 115j related to certain companies. that, it forms part of chapter 12b. that section 115j begins with non-obstante clause. he contended that the said section was introduced by finance act, 1987. that, by virtue of the said section, it is provided that in the case of a company ..... book profits under section 115j.6. mr. jasani, learned advocate appearing on behalf of the assessee, on the other hand, contended that section 115j was introduced by finance act, 1987 in order to restrict unwarranted deductions claimed by the assessees. he invited our attention to various items enumerated in parts ii and iii of schedule vi of ..... whose total income, as computed under the act, is less than 3o% of the book profits computed under that section then the total .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)168CTR(Bom)24; [2002]256ITR401(Bom)
..... brief legislative history is that the service tax was for the first time imposed by the finance act, 1994, pursuant to the report submitted by the chelliah committee on tax reforms. the finance act, 1994, covered only three services, i.e., service provided by stock brokers, telegraphic authority and general insurer. chapter v thereof contains the scheme and provisions relating to the tax. by the ..... finance act, 1997, section 65 was substituted so as to include a wide variety of services. section 116 of .....
Tag this Judgment!Court : Mumbai
Reported in : [2001]116TAXMAN418(Bom)
..... finance act, 1997, section 65 was substituted so as to include a wide variety of services. section 116 of the finance act, 1998 substituted section 66 of the finance act, 1994. while a few services covered by the 1997 act were excluded from purview of the service ..... .4. brief legislative history is that the service tax was for the first time imposed by the finance act, 1994 pursuant to the report submitted by chelliah committee on tax reforms. the finance act, 1994 covered only three services, i.e., services provided by stock brokers, telegraphic authority and general insurer. chapter v thereof contains the scheme and provisions relating to the tax. by the .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Reported in : (2001)(96)LC52Tri(Mum.)bai
..... . each of the units had its own registration with the registrar of companies/firms, sales tax registration, ssi registration, shop & establishment registration, factory registration, bank account & finance, income tax account, provident fund account, employees state insurance scheme account and worker's union. (a) that there was no question of common storage of raw materials, with ..... that the department was out to deny them the rightful exemptions under the relevant notifications.niton firm, in their reply, submitted that the firm was established in 1978 only and hence could not have floated the inventa co. which had been established as far back as in 1973-74. the niton co. started their manufacturing ..... (upto 1.11.1987).the scn, by invoking the extended period of limitation under the proviso to section 11-a(1) of the central excises and salt act, 1944, proposed to recover rs. 29,15,587.55 as duty of excise on the above excess clearance value as determined by clubbing of clearances of the .....
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