Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1987)22ITD374(Hyd.)
..... the assessee-company had been trying hard to find out alternative sources of supply and for this purpose was making various inquiries including going on for a project of manufacturing liquid ammonia.again, it was emphasised that the assessee never wanted to have backward integration in assessee's business. the plant for which the tour was undertaken was ..... 's own case for the two years considered by the 1tat earlier. similar view was also expressed by their lordships of the supreme court in the case of empire jute co. ltd. (supra) when it was stated that each case must necessarily turn on its own facts and no infallible test can be laid down since the tests ..... can appropriately be classified as capital expenditure, is required to be excluded from the character of revenue expenditure for the purpose of deduction under section 37 of the act and therefore what is required to be done is to carve out only that part of the expenditure from the whole of the expenditure incurred for the purpose of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1986)19ITD89(Hyd.)
..... andhra bank, that they have revived their unit to a large extent and they proposed to carry on their business activity in tobacco through supplies to domestic cigarette manufacturers initially and to exports gradually. they expressed confidence that their venture who yield profitable returns.their request for loan was forwarded to the central office by the local ..... silk mills ltd.'s case (supra) was a case where the dyeing plant hitherto used by lakshmi silk mills was leased out to a person engaged in dyeing jute. thus, the supreme court case is an extreme case, where the assets of the assessee-company was put to a different use or fashion; it was used ..... the point in controversy. para no. 4 in the preamble of the lease deed states as follows : whereas the lessee, which is a company registered under the companies act, and carrying on business in tobacco are desirous of taking on lease the said land, water storage tank, furniture, scales, conveyer system, laboratory and office building, etc., .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2004)90ITD344(Hyd.)
..... is pleaded that the ratio of the decision of the apex court in the case of artex manufacturing co. (supra) and electric control gear manufacturing co. (supra) which are given in the context of section 41(2) of the income-tax act, apply with equal force to section 50. in other words, before section 50 is invoked, ..... date of transfer of the undertaking shall belong solely to cffl. any possible or potential liability arising out of orders made under the jute packaging materials (compulsory use in packing commodities) act, 1987 and the rules framed thereunder, upto the date of transfer of the undertaking shall be that of the prospective buyer and shall ..... purchaser under or pursuant to this agreement. (f) any possible or potential liability arising out of or pursuant to orders made under the. jute packaging materials (compulsory use in packing commidities) act, 1987 and/or the rules framed thereunder upto the transfer date shall be the sole liability of the purchaser and the value thereof shall .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1982)2ITD479(Hyd.)
..... as found in para 3 of the commissioner (appeals) for 1973-74 as under : it is explained that the company manufactures wheat products like maida, ravva, atta and bran and sells them. under the andhra pradesh general sales-tax act, sales tax is payable on maida, atta and bran at multiple points while the sales tax is payable on ravva by ..... to show that the assessee was following a cash system of accounting and we are unable to accept the department's contention. the supreme court in the case of kedarnath jute (supra) was dealing with a case where the assessee who followed the mercantile system of accounting had contested the sales tax liability in appeal and it had made no ..... to say that a cash system was followed in respect of the above deposit account. in this connection he referred to the supreme court ruling in the case of kedarnath jute (supra) and pointed out that the existence or absence of entries in its books of account was not decisive of the matter and that the mere fact that the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1984)10ITD333(Hyd.)
..... 1. this appeal is directed against the order of the commissioner (appeals) dated 21-1-1982 passed in appeal no. vsp 209 of 1979-80. the assessee manufactures jute bags, polythene bags, etc. for the assessment year 1979-80, a return of income was filed admitting the total income at rs. 4,07,890. the ito ..... is for the first time that the assessee raised this ground before the commissioner (appeals). before the commissioner (appeals), the assessee contended that under the income-tax act, 1961 ('the act') depreciation is allowable in respect of an asset which is owned by the assessee. the attention of the learned counsel appearing for the assessee was drawn to a ..... the income under the head 'aop'. he chose to assess their respective shares separately in the hands of the assessee and extrusions. the position under the 1922 act was that once an option was exercised to assess a member of association without assessing the association, the association could not be assessed later-the decision of the .....
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